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Author Topic: 21 BTC block ( With fees! )  (Read 339 times)
nikauforest
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November 14, 2017, 12:24:49 AM
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ViaBTC grabbed a 21 btc block with fees. I think the BTC only investors are underestimating Bitcoin Cash.

I have learned a couple of important things about investing.
1) Be agnostic and let the market tell you what is going to happen. Let the market decide. ( Don't impose your beliefs on the market)
2) The herd is almost always wrong. (ask yourself are you the herd)

Personally I am agnostic and hold an equal amount of each right now.
Also I think there is a strong possibility Bitcoin Cash will at a minimum, gain steady hashing power over the next several months. Lets see how the new difficulty adjustment goes from today's fork.

I know all the arguments for lightning etc.. but a 21btc block! are people going to wait for lightning?  Perhaps BTC should be called Bitcoin Gold because it is only economical to move over 100 dollars in BTC due to the high fees. ( The mempool is going crazy.) BTC with high fees is ok with me, but it's only utility is large transactions and a store of wealth. This is ok too.

Ok you can bash me now.

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backonEarth
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November 14, 2017, 03:00:52 PM
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Do guys like you think that the Bitcoin Core team is blind for these problems? Stating the obvious and being dramatic isn't helping, rather find out what Bitcoin Core is doing so far and if they stopped developing for Bitcoin. If they say: "We think Bitcoin right now is great and it doesn't need updates anymore" I would be the first one sending everything to Bitcoin Cash.

Like you I would have much more trust with a clear road map ahead for Bitcoin. But since there is so many parties with interests involved in how Bitcoin should progress, Bitcoin Core seems to reach out for stability first. Technology should always be changing and improving, but I have respect for their attempt of getting consensus before pushing new things. Compared to Bitcoin Cash they seem to me to be more professional and at least have way more experience. If they can keep these two things going at the same time, stability and change, this is the best that can happen to Bitcoin. Investors like stability, believers of Bitcoin as a currency like constant change and improvement to be technically superior to the old systems.
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November 14, 2017, 03:04:59 PM
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No one is agnostic here. This is a Bitcoin forum. People here buy and own Bitcoin.

BCH is an altcoin.

It's an altcoin. It's a fucking altcoin. It's not Bitcoin. BCH is an ALTCOIN.

We don't talk altcoins here, since this is a Bitcoin speculation forum. Here's where you need to be:

https://bitcointalk.org/index.php?board=67.0
backonEarth
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November 14, 2017, 03:14:22 PM
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No problem with speculating Bitcoin by looking if it will be processing technically enough to keep everyone happy and buying.
KAKACH
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November 14, 2017, 03:19:58 PM
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 Bitcoin cash has some qualities :
  - Bigger block (it will come to bitcoin, sooner or later)
  - Solving technical issues quickly (new rule for difficulty adjustment has been release very fast)
  - Wish to implement segwit to be able to support lightning.

 In my mind, Bitcoin is better thanks to a better de-centralization.
alyssa85
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November 14, 2017, 03:57:00 PM
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ViaBTC grabbed a 21 btc block with fees. I think the BTC only investors are underestimating Bitcoin Cash.

I have learned a couple of important things about investing.
1) Be agnostic and let the market tell you what is going to happen. Let the market decide. ( Don't impose your beliefs on the market)
2) The herd is almost always wrong. (ask yourself are you the herd)

Personally I am agnostic and hold an equal amount of each right now.
Also I think there is a strong possibility Bitcoin Cash will at a minimum, gain steady hashing power over the next several months. Lets see how the new difficulty adjustment goes from today's fork.

I know all the arguments for lightning etc.. but a 21btc block! are people going to wait for lightning?  Perhaps BTC should be called Bitcoin Gold because it is only economical to move over 100 dollars in BTC due to the high fees. ( The mempool is going crazy.) BTC with high fees is ok with me, but it's only utility is large transactions and a store of wealth. This is ok too.

Ok you can bash me now.



Wow! Right there is why the miners have an incentive to keep a big mempool, because it forces up the fees and they make so much more money than if the transactions were being smoothly included in the blocks.

However on the other side are the users. Only people with hardware wallets are forced to pay these fees. If you have your coins on an exchange, it's pretty easy to convert to litecoin or doge, send that, and then convert back at the other end.

nikauforest
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November 14, 2017, 07:09:02 PM
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No one is agnostic here. This is a Bitcoin forum. People here buy and own Bitcoin.

BCH is an altcoin.

It's an altcoin. It's a fucking altcoin. It's not Bitcoin. BCH is an ALTCOIN.

We don't talk altcoins here, since this is a Bitcoin speculation forum. Here's where you need to be:

https://bitcointalk.org/index.php?board=67.0

Ha Ha ! I was talking about Bitcoin in the correct forum. Its fees my friend. The truth hurts, I guess I pushed your red button. Hey BTW I am ok with the high fees. I am a miner as well.
hahahafr
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November 14, 2017, 08:23:51 PM
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What do you mean wigh agnostic? i think that you are talking about other things i guess. Because it doesnt have any correlation at all.
We can not just follow the market, if we all were supposed to do that, then probably most of us should be investing on bitcoin cash and moving all our funds to there, and it is not happening.
You just dont have to pay attention to your feelings, and this is the only way to make profit from it. Just be greedy when the others are scared, this is the only way to make profit from any situation.

nikauforest
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November 14, 2017, 09:33:24 PM
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What do you mean wigh agnostic? i think that you are talking about other things i guess. Because it doesnt have any correlation at all.
We can not just follow the market, if we all were supposed to do that, then probably most of us should be investing on bitcoin cash and moving all our funds to there, and it is not happening.
You just dont have to pay attention to your feelings, and this is the only way to make profit from it. Just be greedy when the others are scared, this is the only way to make profit from any situation.


What I mean by agnostic is: that it does not matter to me whether BTC or BCH is crowned king of the heap. I am here to make money. ( I also share the libertarian ideals of the community)

What I see in the "Bitcoin Core" community is similar to the mid to late 90's opinions of Netscape. Where is Netscape now. I also remember when Everyone thought AOL was the one and only must have Internet service provider. My personal opinion is that competition is good. Am I a Bitcoin believer ? Absolutely yes! Does it bother me there is BTC and BCH? Absolutely not, I think it is a good thing and competition brings innovation at a faster pace.

Maybe Segwit and the Lighting Network is "the scaling answer" . Bitcoin legacy with its high fees is like a burning house, I guess the hope is, the Core team is acting fast enough to put out the fire of high fees.

I am open minded and I don't care which coin wins. They can both win and possibly serve different purposes. The market will decide.
exstasie
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November 14, 2017, 10:11:46 PM
 #10

No one is agnostic here. This is a Bitcoin forum. People here buy and own Bitcoin.

BCH is an altcoin.

It's an altcoin. It's a fucking altcoin. It's not Bitcoin. BCH is an ALTCOIN.

We don't talk altcoins here, since this is a Bitcoin speculation forum. Here's where you need to be:
https://bitcointalk.org/index.php?board=67.0

I agree that BCH is an altcoin. But to be fair, discussion of how the BCH situation affects BTC price action is appropriate here. If you line one chart up over the other, both assets go through periods of very clear positive correlation and very clear negative correlation. There are fundamental reasons for this. Hell, Roger Ver was found to be literally sending tens of thousands of BTC to Bitfinex during the BCH pump a few days ago. It's no surprise that BTC price was being suppressed, not unlike the bearwhale of 2014.

I think anyone that's ignoring BCH with regard to BTC price is ignoring vital market information that every BTC trader should be leveraging.

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