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Author Topic: [ANN][BCHC]-[Bitcoin Clashic] - Bitcoin Cash Classic forked at block 504032  (Read 1399 times)
adaseb
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November 18, 2017, 09:48:18 PM
 #1

*I AM NOT THE DEVELOPER. JUST POSTING THIS SINCE THERE IS NO RELEVANT ANN.

WARNING: BECAREFUL OF REPLAY ATTACKS!




WARNING: BECAREFUL OF REPLAY ATTACKS!

FORKING BLOCK WAS 504032 FROM BITCOIN CASH CHAIN!

Website
http://bitcoinclashic.org/

Exchange
https://wallet.crypto-bridge.org/market/BRIDGE.BCL_BRIDGE.BTC

Twitter
https://twitter.com/BitcoinClashic

Pool
http://www.notbcash.org/

Block Explorer
http://satoshistruevision.com/
http://explorer.bitcoinclashic.io/

Fork Monitor
https://bch.btcforkmonitor.info/




WARNING: BECAREFUL OF REPLAY ATTACKS!





What is Bitcoin Clashic?

Bitcoin Clashic is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.

Is Bitcoin Clashic different from 'Bitcoin'?

Yes. Bitcoin Clashic is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.

If I own Bitcoin, do I automatically own Bitcoin Clashic too?

Anyone who held Bitcoin at the time Bitcoin Clashic was created became owners of Bitcoin Clashic. This means that Bitcoin holders as of block 478558 have the same amount of Bitcoin Clashic as they had Bitcoin at that time. If your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your Bitcoin Clashic.

How is transaction replay being handled between the new and the old blockchain?

Bitcoin Clashic transactions use a new signature hashing algorithm indicated by the flag SIGHASH_FORKID. These signatures are not valid on the Bitcoin Legacy network. This prevents Bitcoin Clashic transactions from being replayed on the Bitcoin blockchain and vice versa. Anyone else using Bitcoin Clashic's method and deployed later is a direct attack to Satoshi's True Vision

Why was a fork necessary to create Bitcoin Clashic?

The legacy Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second. Although technically simple to raise this limit, the community could not reach a consensus, even after years of debate.

Was the 1 MB block size limit causing problems for Bitcoin?

Yes, In 2017, capacity hit the 'invisible wall'. Fees skyrocketed, and Bitcoin became unreliable, with some users unable to get their transactions confirmed, even after days of waiting.

Bitcoin stopped growing. Many users, merchants, businesses and investors abandoned Bitcoin. Its marketshare among other cryptocurrencies quickly plummeted from 95% to 40%.

Does Bitcoin Clashic fix these problems?

Yes. Bitcoin Clashic immediately raised the block size limit to 8MB as part of a massive on-chain scaling approach. There is ample capacity for everyone's transactions.

Low fees and fast confirmations have returned with Bitcoin Clashic. The network is growing again. Users, merchants, businesses, and investors are building the future with real peer to peer cash.

Why didn't Bitcoin raise the block size if it was easy?

Some of the developers did not understand and agree with the original vision of peer-to-peer electronic cash that Satoshi Nakamoto had created. Instead, they preferred Bitcoin become a settlement layer.

Many miners and users trusted these developers, while others recognized that they were leading the community down a different road than expected.

These two very different visions for Bitcoin are largely incompatible, which led to the community divide.

Didn't SegWit increase the block capacity? Will Bitcoin Clashic ever have SegWit?

Segregated Witness or "SegWit" is an unacceptable substitute for increasing the blocksize for several reasons.

First, even if used in 100% of transactions, the increase would equate to 1.7MB blocks. Thus, it is a small capacity increase at best. It will not handle exponential growth or worldwide usage. Second, the soft fork implementation results in discardable signatures, which weakens Bitcoin's security model. Third, it makes future capacity increases more difficult due to bandwidth inefficiency and quadratic hashing attacks which SegWit doesn't solve since an attacker isn't forced to use it.

For those (and other) reasons, Bitcoin Clashic was necessary as a pre-SegWit fork. Segwit will not be adopted.

Which Development Team is In Charge of Bitcoin Clashic?

Unlike the previous situation in Bitcoin, there is no one single development team for Bitcoin Clashic. There are now multiple independent teams of developers.

This decentralization of development (and decentralization of software implementations) is a much needed and important step forward.

What is the ticker symbol for Bitcoin Clashic?

Bitcoin Clashic is represented by a number of different ticker symbols depending on the service or wallet. BCHC is the most popular ticker so far.



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Reply with quote  #2

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adaseb
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November 21, 2017, 12:11:38 AM
 #2

This might be a Dead on Arrival coin since looking at the hashrate it looks like its only being mined by a single Antminer S3.

However it doesn't stop from making transactions. So far every block is full of them. The block size alone was 2.5MB.


Seems somebody is buying up these coins somehow.

http://satoshistruevision.com/#block:last

Block 504041: 3065 Transactions
Block 504040: 5298 Transactions
Block 504039: 96 Transactions


--------------------------------

Maybe they are being replayed from the Bitcoin Cash network.

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GoodHabit
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November 22, 2017, 05:14:09 PM
 #3

Unfortunately, no blocks since nearly 60 hours now - why would anyone start to mine the most expensive blocks if there is no intention to continue?

There are already 3 working explorers, but only 10 blocks since the fork. There are already 16 EDA reductions locked in, but only 4 have happened. Did someone wrongly interpret the EDA rules - it doesn't reduce every 12 hours - it reduces by 20 % 12 blocks after each block that moved out of the 12 hour window without having 6 blocks following it. So without mining, no further reduction
adaseb
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November 22, 2017, 05:57:43 PM
 #4

Unfortunately, no blocks since nearly 60 hours now - why would anyone start to mine the most expensive blocks if there is no intention to continue?

There are already 3 working explorers, but only 10 blocks since the fork. There are already 16 EDA reductions locked in, but only 4 have happened. Did someone wrongly interpret the EDA rules - it doesn't reduce every 12 hours - it reduces by 20 % 12 blocks after each block that moved out of the 12 hour window without having 6 blocks following it. So without mining, no further reduction

From what I understand it only reduces after a block is mined. So the difficulty now is like 1% of Bitcoin Cash and since the coins have no value at the moment, its a waste of hashpower mining.

Basically someone needs to rent some Nicehash power and mine at a huge loss to get this coin to survive.

Which looks like someone is doing right now exactly

Quote
{"runtime": 497972, "lastupdate": 1511373598, "Users": 15, "Workers": 25, "Idle": 11, "Disconnected": 11}
{"hashrate1m": "420T", "hashrate5m": "419T", "hashrate15m": "482T", "hashrate1hr": "534T", "hashrate6hr": "1.05P", "hashrate1d": "685T", "hashrate7d": "144T"}
{"SPS1m": 0.632, "SPS5m": 0.634, "SPS15m": 0.718, "SPS1h": 0.801}
{"diff": "12.0", "accepted": 22155606504, "rejected": 42667627, "lns": 22155606504.1, "herp": 22098562114.16956, "reward": 14.95619103}

Looks like 500-1000Thash/s of power is mining on that pool.


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November 23, 2017, 08:10:17 AM
 #5



From what I understand it only reduces after a block is mined. So the difficulty now is like 1% of Bitcoin Cash and since the coins have no value at the moment, its a waste of hashpower mining.


Actually, difficulty for block 504042 will still be around that of the DAA Fork BCH chain. It only goes down 20% each block that is actually mined. As I understand, the EDA works as follows: whenever a block gets 12 hours old, it checks if it's followed by at least 6 more blocks. If the answer is Yes - > exit. If the answer is No - EDA is triggered.. and this means: block with height triggerblock +12 will have 20% less difficulty than triggerblock +11. No blocks at all - > no reduction! Fastest reduction is achieved if you just mine 11 very evenly spaced blocks a day...

May be the initial miners just got this and quit, figuring they would have to mine to many blocks at high price.. Should have done their homework earlier ;l
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November 23, 2017, 08:16:20 AM
 #6

An attempt to discredit the legitimacy of Bitcoin Cash. sad.

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November 23, 2017, 05:54:45 PM
 #7



From what I understand it only reduces after a block is mined. So the difficulty now is like 1% of Bitcoin Cash and since the coins have no value at the moment, its a waste of hashpower mining.


Actually, difficulty for block 504042 will still be around that of the DAA Fork BCH chain. It only goes down 20% each block that is actually mined. As I understand, the EDA works as follows: whenever a block gets 12 hours old, it checks if it's followed by at least 6 more blocks. If the answer is Yes - > exit. If the answer is No - EDA is triggered.. and this means: block with height triggerblock +12 will have 20% less difficulty than triggerblock +11. No blocks at all - > no reduction! Fastest reduction is achieved if you just mine 11 very evenly spaced blocks a day...

May be the initial miners just got this and quit, figuring they would have to mine to many blocks at high price.. Should have done their homework earlier ;l

Yes I understand. But someone is pushing massive hashpower at this thing currently at 2.5PH/s. Which is priced in at $4000 per day to mine.

Someone wants this coin to survive.


{"runtime": 583897, "lastupdate": 1511459523, "Users": 17, "Workers": 28, "Idle": 10, "Disconnected": 15}
{"hashrate1m": "2.58P", "hashrate5m": "2.75P", "hashrate15m": "2.63P", "hashrate1hr": "2.57P", "hashrate6hr": "2.08P", "hashrate1d": "1.23P", "hashrate7d": "303T"}
{"SPS1m": 2.09, "SPS5m": 1.7, "SPS15m": 1.54, "SPS1h": 1.36}
{"diff": "28.0", "accepted": 48490819260, "rejected": 48557902, "lns": 48490819260.1, "herp": 48779350980.52305, "reward": 20.57087729}


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Ano
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November 23, 2017, 06:02:55 PM
 #8

Is there any available exchange for this coin and how claim if anyone have BCH. Now situation is getting confused about the future of BCH why people are silent about this fork and nobody talking about this?

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November 24, 2017, 09:08:57 PM
 #9

Looks like they gave up trying to find the blocks. Hashrate is down again from like 2.5PH

Quote
{"runtime": 682003, "lastupdate": 1511557630, "Users": 11, "Workers": 21, "Idle": 8, "Disconnected": 0}
{"hashrate1m": "211G", "hashrate5m": "191G", "hashrate15m": "189G", "hashrate1hr": "22.3T", "hashrate6hr": "598T", "hashrate1d": "1.14P", "hashrate7d": "453T"}
{"SPS1m": 0.256, "SPS5m": 0.231, "SPS15m": 0.229, "SPS1h": 0.259}
{"diff": "46.0", "accepted": 79148340728, "rejected": 48624431, "lns": 79148340728.10001, "herp": 79255827236.05835, "reward": 21.4843153}

Seems like this chain might definitely be dead.

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November 25, 2017, 10:15:55 AM
 #10

Looks like they gave up trying to find the blocks. Hashrate is down again from like 2.5PH

Seems like this chain might definitely be dead.

Looks like - although the 10 first blocks where all mined from the same Address, so an error seems improbable - so why anyone would mine the 10 most expensive blocks and then stop doesn't make any sense, but maybe they didn't research how the EDA actually works and now the came to the conclusion that its to expensive...
adaseb
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December 05, 2017, 10:15:16 PM
 #11

Looks like this fork is slowly coming out of the dead.

About 1PH/s is being dedicated on the pool and after 6 days another block was found. Probably a couple more weeks until the difficulty goes down to a manageable level with 10 minute block times.

1PH/s doesn't sound like much but it costs someone 0.20 BTC about ~$2000 a day just to keep this coin alive. Someone really wants this coin to survive.

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GoodHabit
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December 12, 2017, 07:21:33 PM
 #12

More and more alive - 6 blocks within the last 36 hours... and difficulty is finally down to ca. 17 % of the DAA Bitcoin Cash Chain, and to 1.4 % of the BTC-Main-Chain.

10 more EDA reductions are locked in (so at least down to 10% of the present diff is already assured) - but more likely to come - and with much more than 2 weeks used for 2016 blocks, another ordinary diff reduction (max reduction to 1/4) should happen at block 506016 - but that's still a long way to go...
adaseb
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December 13, 2017, 05:45:49 AM
 #13

Yes about 7 blocks found in the last 24 hours. Seems like this coin might survive. Its crazy how the blocks are completely filled up. Wonder where people are buying and selling this coin.

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GoodHabit
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December 13, 2017, 07:16:11 AM
 #14

Yes about 7 blocks found in the last 24 hours. Seems like this coin might survive. Its crazy how the blocks are completely filled up. Wonder where people are buying and selling this coin.

No where, transactions are practically all replays from the BCH Chain Sad
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December 13, 2017, 10:22:01 AM
 #15

And now they are mining even to fast.. EDA will be interrupted for at least 6 blocks, no diff reduction from block 504064-504069
aliketrogle
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December 13, 2017, 07:16:56 PM
 #16

Hi, guys, tell me where are you incorporated?
adaseb
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December 13, 2017, 11:12:15 PM
 #17

Yes about 7 blocks found in the last 24 hours. Seems like this coin might survive. Its crazy how the blocks are completely filled up. Wonder where people are buying and selling this coin.

No where, transactions are practically all replays from the BCH Chain Sad

I think its the other way around.

Transactions from B Clashic could be relayed on the BCH chain, hence why I issued the warning.

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GoodHabit
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December 18, 2017, 09:12:50 AM
 #18

since less than 6 hours, turbo mining has started - two miners have found more than 160 blocks within a few hours. Difficulty is now down to 4.77 Mio, that is around 0.000003 of the BTC Mainchain, or - in other words - Clashic Mining should be profitable (compared to Bitcoin) at a price of 0.06 $ per coin.

So when will we see some exchanges?

BTW - Turbo mining will not increase difficulty very fast, because it will drop again steep at block 506016. There are more than 5 weeks since the last ordinary retarget at block 504'000, so the next ordinary retarget will pull diff even very much further down.

So it could be easily possible to mine 6000 - to 8000 blocks within a week and thus get ahead of the BCH chain. Don't no if this would cause anything to happen...
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December 19, 2017, 11:25:27 AM
 #19

This coin is both hilarious and interesting. Interesting since it shows what can happen after a hard fork. Also because somebody used a lot of hashes to get to this point.

At the beginning, the difficulty was very high and a single miner mined several blocks. Since the fork, the network used 20000 Exahashes (if I haven't messed up the math), which if employed on the Bitcoin network, would bring at least 40 BTC. So somebody spent almost a million dollars of opportunity cost to bring this difficulty down and finally able to mine it like crazy (along with others). Who was such a nice sponsor?
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December 19, 2017, 11:35:10 AM
 #20

We have to support this project, and I like a unique way of opening up.

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