About BCC (Bitcoin's Cancer Cell)

[RamBahadur.Gurung]

Trying to synch Bitcoin ABC for three days now.

First I had tried to use the same blockchain until the date of July. Didnt work, the program crashed.

Then started to synch since the beggining. It's on 50% yet, computer turned on all the time. Using another OS because the program uses the same registry as Core.

For me is showing 0 BCC for now, but the transactions until July appear on history as BCC.

I dont know if I will ever get these "free coins".

But I dont see a slow synch like that since I tried to download Ethereum blockchain some months ago (and dropped it after two weeks trying).

Sooner or later, an easier way to claim BCC coins will come online. You needs to be patient, and wait until such a service is launched. No one is going to run away with your BCC. It will be there in your wallet as long as you keep your private keys securely.

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[HeRetiK]

84% reduction on BCH difficulty. We're seeing block less infrequently. More dumps to come as the chain becomes somewhat closer to normal blocktime spacing.

Its a natural reaction by the holders. But which one has more upside, BTC or BCC? If everything goes as planned with BCC we might see more price growth in it because of heavy speculation.

We're going to see some heavy speculation for sure. BCH does not even need to be fully viable to get pumped once the current wave of dumpers has run out of coins. Especially the upcoming Segwit vs Segwitx2 drama is going to be BCH pumper's paradise, regardless of whether the coin shows any merit or not.

[alyssa85]

84% reduction on BCH difficulty. We're seeing block less infrequently. More dumps to come as the chain becomes somewhat closer to normal blocktime spacing.

Its a natural reaction by the holders. But which one has more upside, BTC or BCC? If everything goes as planned with BCC we might see more price growth in it because of heavy speculation.

We're going to see some heavy speculation for sure. BCH does not even need to be fully viable to get pumped once the current wave of dumpers has run out of coins. Especially the upcoming Segwit vs Segwitx2 drama is going to be BCH pumper's paradise, regardless of whether the coin shows any merit or not.

I think the pump has started - it's up from about 0.06 yesterday to about 0.11 today. Part of the reason is that the difficulty has fallen and blocks are being generated smoothly at last.

[mrfreezeh]

84% reduction on BCH difficulty. We're seeing block less infrequently. More dumps to come as the chain becomes somewhat closer to normal blocktime spacing.

Its a natural reaction by the holders. But which one has more upside, BTC or BCC? If everything goes as planned with BCC we might see more price growth in it because of heavy speculation.

We're going to see some heavy speculation for sure. BCH does not even need to be fully viable to get pumped once the current wave of dumpers has run out of coins. Especially the upcoming Segwit vs Segwitx2 drama is going to be BCH pumper's paradise, regardless of whether the coin shows any merit or not.

I remember the risk about SegWit and SegWit2x is gone after August 1st, maybe I'm mistaken? Because after BIP141 active in August 1st, the schedule SegWit Bitcoin going to soft fork and not need split chain as SegWit2x.

[European Central Bank]

I remember the risk about SegWit and SegWit2x is gone after August 1st, maybe I'm mistaken? Because after BIP141 active in August 1st, the schedule SegWit Bitcoin going to soft fork and not need split chain as SegWit2x.

the proposed 2 mb hard fork in november is the real reason why this coin was created. it'll be used by jihan wu to apply pressure for it.

[e-coinomist]

if hashrate leaves difficulty will adjust and show will keep going .. what's the issue here?

in a normal world there are 1 block every 10 minutes on average which makes 144 block each day. 144 * 12.5BTC = 1,800BTC
imagine you have 10% of the hashrate and lets say each day you get 10% of 1800BTC = 180BTC = $486,000

(assuming BCH reached equilibrium and is mining 1 block every 10 min on average) now in our fucked up world you can one day decide to switch your 10% hashrate on bitcoin to bitcoin cash. with it you can mine a lot more because first of all 10% on BCH is a lot more (nearly 80% of total there maybe more but lets take 80%) and also because of this big hashrate rise more blocks will be generate in 1 day. lets say 200 blocks
200 * 12.5 BCH * 80% * $500 = $1,000,000

right now ViaBTC that has 5% of bitcoin hashrate has mined 25% of bitcoin cash's blocks.

of course things aren't as simple as this and i am making big assumptions about numbers. for example a miner can not just sell the coins as he gets them. coinbase transaction (that 12.5) need to stay about 100 blocks IIRC or so before becomes spendable.

https://cash.coin.dance/blocks states "It is currently 108% more profitable to mine on the original chain" this has been 160% recent days. Difficulty stated as beein 17% of the main network.
There should be some equilibrium reached where miners get equal revenue from running their asics on any chain.
Because price adapts as in 10% of the hashrate resulting in 10% of the Bitcoin notation. Difficulty adjusts, too.

[xDan]

So, the thing we've been trying to avoid for years has actually happened: a contentious hard fork.

What are the ramifications?

Bitcoin Cancer Cell is the single crypto sharing SHA-256 with Bitcoin. Thus, miners are free to transition between the two as is more profitable. If Bitcoin Cancer increases in price, the market will subtract hashrate from Bitcoin and add it to the Cancer.

The Cancer is not only a direct threat to Bitcoin, but ultimately to itself since it is built on faulty fundamentals: The big block vision is one where blocks become so huge that only a few datacenters will be able to operate nodes, leading to a centralization level akin to PayPal and credit cards.

The Cancer comes from within us. It uses the same forums, chats and subreddits.

It is here to destroy.

The only solution? Excision before it metastazises and it's too late: Miners of the majority fork must band together and kill off the minority fork.

BS. It wasn't a contentious fork at all. It was the exact opposite; a peaceful break away. And it could happen at any time in the future again if even only one person decides to support it, we could have 100s or 1000s of these. Shit, every altcoin could have been implemented as a spin-off.

Despite being a BCC supporter and big blocker, I think original Bitcoin will easily win simply due to the existing network effect.

Stop being a pathetic whiner and let the market sort it out.

[afbitcoins]

The big block vision is one where blocks become so huge that only a few datacenters will be able to operate nodes, leading to a centralization level akin to PayPal and credit cards.

Yes a scary vision. But its that or offchain solutions enabled by segwit and Lightning Networks, also cancer. What to do?

[European Central Bank]

Yes a scary vision. But its that or offchain solutions enabled by segwit and Lightning Networks, also cancer. What to do?

a datacentrecoin means the whole game is over. off chain hell still means there's a chain out there to escape to.

[afbitcoins]

Yes a scary vision. But its that or offchain solutions enabled by segwit and Lightning Networks, also cancer. What to do?

a datacentrecoin means the whole game is over. off chain hell still means there's a chain out there to escape to.

Or physical gold and silver 

A couple of years ago I was much more in the spirit of bitcoin as the way to defeat Central Banks, the European Central Bank (why you have that name?). Now I'm just in it for the profit which is working out well but doesn't taste so sweet anymore. Money men taking over.

[afbitcoins]

Yes a scary vision. But its that or offchain solutions enabled by segwit and Lightning Networks, also cancer. What to do?

a datacentrecoin means the whole game is over. off chain hell still means there's a chain out there to escape to.

Maybe I'm naive but why can't we have big blocks and some kind of way of storing the blockchain in a distributed way across the network. Would that not allow us to have big blocks and avoid big data centres?

[European Central Bank]

A couple of years ago I was much more in the spirit of bitcoin as the way to defeat Central Banks, the European Central Bank (why you have that name?). Now I'm just in it for the profit which is working out well but doesn't taste so sweet anymore. Money men taking over.

yeah. i'm kind of leaning that way myself too. there aren't enough people who'll resist the lure of serious money. i'm starting to wonder whether there'll be a surface layer of decentralisation to keep people on board, but everyone'll collectively choose not to look a little deeper to keep those plates spinning.

i can't answer any questions about my name. it's institutional policy.

Maybe I'm naive but why can't we have big blocks and some kind of way of storing the blockchain in a distributed way across the network. Would that not allow us to have big blocks and avoid big data centres?

check the node count. it's been slowly falling away. it's blockchain size, bandwidth, downloading. hassle. there ain't many committed enough. huge blocks will take out many of the people who want to keep going but it won't be practical for them.

maybe there'll be some holdouts but not enough to really count any more. but who knows?

[e-coinomist]

check the node count. it's been slowly falling away. it's blockchain size, bandwidth, downloading. hassle. there ain't many committed enough. huge blocks will take out many of the people who want to keep going but it won't be practical for them.

Block Size (kB) 1 hour ago like 11.20 (kB) that's not the issue. Seemingly there aren't so many eager beavers lining up to get their dumps through to the exchanges, the blocks aint overcrowded.
The real handicap is about having to maintain two chains, and keeping them up to sync. Maintaining wallets.
That's the real reason for centralized exchanges, people storing their altcoins over there as a service.

[Paashaas]

The only thing i like about this BCash is that i can increase my Bitcoin holdings just for free

For the rest what is worth it, just a cheap disgusting hostile take over.

[fabiorem]

I'm inclined to think BCC is a legit scam.

I created another Core wallet August 2nd, after the fork, and sent my funds there. Followed Theymos instructions the best I could.

Then using another Windows (already installed) I got ABC and installed it in this other system. Started synch, very, very slow. Tried copying the original blockchain to the ABC folder (which was in another external hd) but it didn't work, the program just overwrite every block as it synched. Let it synch on day and night, got to sleep with computer on.

Now, six days after I installed this ABC wallet in this other Windows system (which I'm using most of the time now), I'm now up to 10 weeks till synch, and it only shows 0.44 BCC. Where is the rest of the stash? Its simply not showing. Now this can be a matter of synching, since it wont complete (it says there's still two days till it synchs, as slow as ether would go when I tried to synch its blockchain here), but who knows, maybe this network is really a scam and the coins are not there anymore? There was a user which reported somewhere his BCC disappeared after he tried to claim it in Electrum... I'm trying the slow, more secure way, but I dont trust it is a legitimate network, or that it can succeed bitcoin in any way.

[pooya87]

I remember the risk about SegWit and SegWit2x is gone after August 1st, maybe I'm mistaken? Because after BIP141 active in August 1st, the schedule SegWit Bitcoin going to soft fork and not need split chain as SegWit2x.

the proposed 2 mb hard fork in november is the real reason why this coin was created. it'll be used by jihan wu to apply pressure for it.

this is what i am genuinely afraid of.
when the 2 MB hard fork comes, there is a good chance that core devs will start denying it (i still don't completely know why) and that gives that 80% of the hashrate a good reason to switch to BCC.
and it all comes down to price in the end. by that time the major dumping is over and price is at the bottom, a simple pump (specially if they deny 2 MB and drama peaks) will give miners enough incentive to switch.

[pinkflower]

84% reduction on BCH difficulty. We're seeing block less infrequently. More dumps to come as the chain becomes somewhat closer to normal blocktime spacing.

Its a natural reaction by the holders. But which one has more upside, BTC or BCC? If everything goes as planned with BCC we might see more price growth in it because of heavy speculation.

We're going to see some heavy speculation for sure. BCH does not even need to be fully viable to get pumped once the current wave of dumpers has run out of coins. Especially the upcoming Segwit vs Segwitx2 drama is going to be BCH pumper's paradise, regardless of whether the coin shows any merit or not.

Thats true. But its not about the merit of the coin especially now in the early stages. Its about the profitability mining it, and right now BTC is 83% more profitable in the original chain. It was 200% 2 days ago. At that rate, maybe we could see it go lower to 15% or less.

When that happens, another pump would make BCC more profitable to mine making some miners transfer from BTC to BCC, and then propelling the price further.

[Herbert2020]

if hashrate leaves difficulty will adjust and show will keep going .. what's the issue here?

in a normal world there are 1 block every 10 minutes on average which makes 144 block each day. 144 * 12.5BTC = 1,800BTC
imagine you have 10% of the hashrate and lets say each day you get 10% of 1800BTC = 180BTC = $486,000

(assuming BCH reached equilibrium and is mining 1 block every 10 min on average) now in our fucked up world you can one day decide to switch your 10% hashrate on bitcoin to bitcoin cash. with it you can mine a lot more because first of all 10% on BCH is a lot more (nearly 80% of total there maybe more but lets take 80%) and also because of this big hashrate rise more blocks will be generate in 1 day. lets say 200 blocks
200 * 12.5 BCH * 80% * $500 = $1,000,000

right now ViaBTC that has 5% of bitcoin hashrate has mined 25% of bitcoin cash's blocks.

of course things aren't as simple as this and i am making big assumptions about numbers. for example a miner can not just sell the coins as he gets them. coinbase transaction (that 12.5) need to stay about 100 blocks IIRC or so before becomes spendable.

https://cash.coin.dance/blocks states "It is currently 108% more profitable to mine on the original chain" this has been 160% recent days. Difficulty stated as beein 17% of the main network.
There should be some equilibrium reached where miners get equal revenue from running their asics on any chain.
Because price adapts as in 10% of the hashrate resulting in 10% of the Bitcoin notation. Difficulty adjusts, too.

read the assumption that i've made bold. right now BCC blocks are still being found every hour or half hour. there were 23 BCC blocks in the past 10 hours and that is about 60 BTC blocks, that is obvious that mining bitcoin is still more profitable specially with the rising price which is probably going to break $3500 too.

with that said my previous comment was a theory, i am very interested to see what happens in reality in the near future.

[fanbeila]

So, the thing we've been trying to avoid for years has actually happened: a contentious hard fork.

What are the ramifications?

Bitcoin Cancer Cell is the single crypto sharing SHA-256 with Bitcoin. Thus, miners are free to transition between the two as is more profitable. If Bitcoin Cancer increases in price, the market will subtract hashrate from Bitcoin and add it to the Cancer.

The Cancer is not only a direct threat to Bitcoin, but ultimately to itself since it is built on faulty fundamentals: The big block vision is one where blocks become so huge that only a few datacenters will be able to operate nodes, leading to a centralization level akin to PayPal and credit cards.

The Cancer comes from within us. It uses the same forums, chats and subreddits.

It is here to destroy.

The only solution? Excision before it metastazises and it's too late: Miners of the majority fork must band together and kill off the minority fork.

If BCC is the cancer cell which could even destroy BCC,then immediate measures should be taken and all investors and leading exchanges should not support trading of BCC.If we now allow such BCC coins,it would lead to even more forks in future leading to more shit clones of BTC which would destroy totally the trust which BTC has gained all over the world in the past years.

[oblivi]

Trying to synch Bitcoin ABC for three days now.

First I had tried to use the same blockchain until the date of July. Didnt work, the program crashed.

Then started to synch since the beggining. It's on 50% yet, computer turned on all the time. Using another OS because the program uses the same registry as Core.

For me is showing 0 BCC for now, but the transactions until July appear on history as BCC.

I dont know if I will ever get these "free coins".

But I dont see a slow synch like that since I tried to download Ethereum blockchain some months ago (and dropped it after two weeks trying).

So importing the blockchain files from the Bitcoin Core wallet into the BitcoinABC wallet doesn't work? oh well, in that case i may not even bother. I can't spend that much time syncing the network from scratch. And I suspect it would be even slower with BitcoinABC because it has less nodes to connect form and download the data.

Can someone confirm if they were able to re-use the blockchain of Core into BitcoinABC? because I was told that it would work.