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Author Topic: Is the only difference between BTC and BCC the 8 MB block?  (Read 246 times)
Quartermark
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January 05, 2018, 07:35:50 PM
 #21


The only reason Bitcoin Cash works thus far is because nobody uses it. If it were to be working at scale (that is, full blocks) people running nodes would get kicked out of the network, eventually leading only to datacenters running the BCH network.

The point is that Bitcoin Cash network is already centralized but the market doesn't care. The current transaction capacity is at 8MB which is equivalent to 2.5 million transactions per day. As long as the tx volume is below 2 million per day, or 6x the current rate of bitcoin, the fees will very low.

No. They just don't know that they care YET. They will care. A lot.
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January 05, 2018, 07:42:16 PM
 #22

...
Also, just knowing that this thread will be answered by knowledgeable people, why is segwit not being adopted quickly? Was it not agreed as helpful for the comunity?

There are several reasons in my opinion - though I admit that some of them are pure conjecture on my part:

1. Wrong priorities
Some exchanges that are responsible for a large part of daily Bitcoin transaction volume have been
busy adding altcoins instead of deploying SegWit. This is partly understandable, because every additional
trading pair of course increases their revenue. On the other hand they would also save huge amounts
of money due to the 20-40 % that they would save on Bitcoin transaction fees when consolidating deposits
or processing user withdrawals.

2. Political motives
Some exchanges don´t support the scaling roadmap of Bitcoin and instead want to see a Bitcoin fork succeed
that uses a different solution for scaling. Therefore it is obviously in their interest to stall SegWit adoption as much as possible
in order to sabotage the effort. This seems to be partly successful, because many people are wondering why
SegWit hasn´t really had an effect on the mempool and on the transaction fees.

3. Incompatible business model
Some services like BitPay have a business model that won´t really work if Bitcoin becomes a
settlement layer for high-value payments. They need fast and cheap transactions, because otherwise
no one would use their service to pay for goods. This is why they added support for different altcoins
instead of deploying SegWit, because even a 20-40 % decrease in transaction fees due to SegWit
wouldn´t really save their current business model.

There are many other reasons, but this should be enough for now.
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