Did anyone (besides me) follow the development of the pre-DAA-fork Chain (by some called BitcoinClashic). While the chain was rather dormant for more than 5 weeks (just a few blocks every few days, to keep the EDA going - but way slower than possible - may be to make sure that at the next ordinary retargeting at block height 506016 difficulty will still plunge once more - far more than two weeks for 2016 blocks). But since today, this chain is turbo-mined (ca 920 blocks since 5 AM today).
Practically all transactions exist both on the BCH and the Classic chain - is this may be a problem for BCH?
And at the given mining speed and with the very low difficulty, this chain might actually achieve a larger blockheight than BCH.
Anyone know if this might be a problem...
Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 361. (Read 704578 times)
Bitcoin cash breaks resistance and rises above $2000. How much further will it reach? Come comment on your daily chart segment.
Bitcoin Cash is today's big gainer as prices are spiking above new all time highs for the cryptocurrency. BCH/USD markets are experiencing an explosion on trading volumes while the upward spike affecting the price is contributing to gains beyond 10% through the last 24 hours, with the bullish trend continuing even as prices rise further above $2000. It'd be safe to say that Bitcoin Cash hasn't gotten traders used to such price spikes, so a pause to the rally wouldn't be unlikely.
Chart Source:
https://cryptocoincharts.info/pair/bch/usd/kraken/today
Chart Source:
https://cryptocoincharts.info/pair/bch/usd/kraken/today
Do you still think Bitcoin Cash is supposed to replace Bitcoin ? This seems a bit too late now 
BTC = storage money
BCC = payment system
If a 1MB block takes 30 seconds to verify and validate, with the current code, wouldn't a 1GB block take 50 minutes to verify? Or is it not linear like that? I don't know, 1 block with transactions in it followed by 5 empty blocks seems inefficient. However, it appears the BCH team is working on this bottleneck, so why are we debating about my original concerns? The concern is no longer valid.
With Current Cable Bandwidth of 100 Mbits , 1 MB block can be transmitted in less than 1 second
100Mbits/8 = 12.5 megabytes per second
Even 8 MB blocks are nothing at modern internet speeds.
Correction: Original Node Verification was squared after every time interval ,
The Correct Verification is a Doubling with every increase in time interval
1 second= 2 Nodes Verified
2 second= 4 Nodes Verified
3 second= 8 Nodes Verified
4 second= 16 Nodes Verified
5 second= 32 Nodes Verified
6 second= 64 Nodes Verified
7 second=128 Nodes Verified
8 second=256 Nodes Verified
9 second=512 Nodes Verified
10 second=1024 Nodes Verified
11 second=2048 Nodes Verified
12 second=4096 Nodes Verified
13 second=8192 Nodes Verified
14 second=16384 Nodes Verified
15 second=32728 Nodes Verified
16 second=65456 Nodes Verified
17 second=130912 Nodes Verified
*Neither Bitcoin has over 20000 Full Nodes at the present time*
Once the normal is 1 Gbps
1 Gbps/8 = 125 megabytes per second
Once the normal is 10 Gbps
10 Gbps/8 = 1.25 gigabytes per second
(This can easily support 1 Gigabyte Blocks and some providers are running at this speed today.)
(Within 17 seconds the 1 Gigabyte block could propagate through ~130912 Nodes.)
Once the normal is 100 Gbs
100 Gbs/8 =12.5 Gigabytes per second
╥Aztek
The current bottleneck has nothing to do with the bandwidth of the internet connection. The current bottleneck has to do with the way the present BCH software, (and all other coins that derive from the BTC codebase) handles the mempool. In order for a miner to start including new transactions, they have to verify and validate the transactions in the most recently mined block. During this process, the miner's software must verify which transactions in the current mempool have already been included in a block, and those transactions are removed from the mempool. That way they don't include them in the current block they are mining, and end up mining an invalid block with duplicated transactions. However, it appears the BCH coding team, specifically nChain, is working on removing this bottleneck.
ElTaco coin chooing ===> #threadbomber #litecoincash #bitdevs
============================================
https://poloniex.com/exchange#btc_flo
====>
https://dnbshare.com/download/LOGAN_D_MC_DET_WESTFEST_2017.mp3.html
If a 1MB block takes 30 seconds to verify and validate, with the current code, wouldn't a 1GB block take 50 minutes to verify? Or is it not linear like that? I don't know, 1 block with transactions in it followed by 5 empty blocks seems inefficient. However, it appears the BCH team is working on this bottleneck, so why are we debating about my original concerns? The concern is no longer valid.
With Current Cable Bandwidth of 100 Mbits , 1 MB block can be transmitted in less than 1 second
100Mbits/8 = 12.5 megabytes per second
Even 8 MB blocks are nothing at modern internet speeds.
Correction: Original Node Verification was squared after every time interval ,
The Correct Verification is a Doubling with every increase in time interval
1 second= 2 Nodes Verified
2 second= 4 Nodes Verified
3 second= 8 Nodes Verified
4 second= 16 Nodes Verified
5 second= 32 Nodes Verified
6 second= 64 Nodes Verified
7 second=128 Nodes Verified
8 second=256 Nodes Verified
9 second=512 Nodes Verified
10 second=1024 Nodes Verified
11 second=2048 Nodes Verified
12 second=4096 Nodes Verified
13 second=8192 Nodes Verified
14 second=16384 Nodes Verified
15 second=32728 Nodes Verified
16 second=65456 Nodes Verified
17 second=130912 Nodes Verified
*Neither Bitcoin has over 20000 Full Nodes at the present time*
Once the normal is 1 Gbps
1 Gbps/8 = 125 megabytes per second
Once the normal is 10 Gbps
10 Gbps/8 = 1.25 gigabytes per second
(This can easily support 1 Gigabyte Blocks and some providers are running at this speed today.)
(Within 17 seconds the 1 Gigabyte block could propagate through ~130912 Nodes.)
Once the normal is 100 Gbs
100 Gbs/8 =12.5 Gigabytes per second
╥Aztek
The current bottleneck has nothing to do with the bandwidth of the internet connection. The current bottleneck has to do with the way the present BCH software, (and all other coins that derive from the BTC codebase) handles the mempool. In order for a miner to start including new transactions, they have to verify and validate the transactions in the most recently mined block. During this process, the miner's software must verify which transactions in the current mempool have already been included in a block, and those transactions are removed from the mempool. That way they don't include them in the current block they are mining, and end up mining an invalid block with duplicated transactions. However, it appears the BCH coding team, specifically nChain, is working on removing this bottleneck.
http://www.livebitcoinnews.com/bitcoin-network-faces-another-steep-mining-difficulty-adjustment/
One more reason for the price to shoot up!
One more reason for the price to shoot up!
Quote
Something needs to change to successfully address these problems. While we all love Bitcoin, this current version isn’t usable by the average person. Paying $10 in fees or more is simply ridiculous. We need a scaling solution yesterday instead of tomorrow. Unfortunately, that isn’t in the cards right now. Even the Lightning Network may come too late to save Bitcoin at this rate.
Wait, Segwit was the scaling solution and block size increase, wasn't it?
http://www.livebitcoinnews.com/bitcoin-network-faces-another-steep-mining-difficulty-adjustment/
One more reason for the price to shoot up!
One more reason for the price to shoot up!
I promised a few definitions of SDR and here is one by a USA former president! Notice how FDR made sure to explain why he did not refer to the controversial topic by name yet describes the process in detail, LOL.
https://imgur.com/a/fA70f
https://imgur.com/a/fA70f
https://www.cryptoninjas.net/2017/12/18/bitpay-process-payments-multiple-chains-starting-bitcoin-cash/
This should bump the price up even more.. I see BCH heading to somewhere $2500 - $2700 in the next day or two. Many people from BTC should move to BCH now. Fingers crossed.
This should bump the price up even more.. I see BCH heading to somewhere $2500 - $2700 in the next day or two. Many people from BTC should move to BCH now. Fingers crossed.
Do you still think Bitcoin Cash is supposed to replace Bitcoin ? This seems a bit too late now
BTC = storage money
BCC = payment system
useless to have both.
you want to store in the one with the increasing demand at the increasing rate.
And the one in demand will be the one with the highest utility.
Reading for the "Only-Hodlers" - you might stay nichy:
http://www.businessinsider.com/ing-bitcoin-will-be-a-niche-asset-2017-12?op=1
http://www.businessinsider.com/ing-bitcoin-will-be-a-niche-asset-2017-12?op=1
Interesting these articles comes out after the CME (chicago merchantile exchange?) has opened for business.
Do you still think Bitcoin Cash is supposed to replace Bitcoin ? This seems a bit too late now
BTC = storage money
BCC = payment system
as much as i hate Ver and this coin, it's prob gonna moon LOL
OK IN
i hope this and ETC make some ATH's come 2018 and onwards chooochooo!
my bet is btc will see a big dump, as will that SHIT ETH.
welcome bro...you have chosen wisely OK IN
i hope this and ETC make some ATH's come 2018 and onwards chooochooo!
my bet is btc will see a big dump, as will that SHIT ETH.
Do you still think Bitcoin Cash is supposed to replace Bitcoin ? This seems a bit too late now
as much as i hate Ver and this coin, it's prob gonna moon LOL
OK IN
i hope this and ETC make some ATH's come 2018 and onwards chooochooo!
my bet is btc will see a big dump, as will that SHIT ETH.
OK IN
i hope this and ETC make some ATH's come 2018 and onwards chooochooo!
my bet is btc will see a big dump, as will that SHIT ETH.
Sadly Bitcoin is broken.
It's basically unusable as a peer to peer platform which was the whole damn point.
I tried to transfer $600 of BTC and still unconfirmed.
BTC's utility is wrecked.
It's basically unusable as a peer to peer platform which was the whole damn point.
I tried to transfer $600 of BTC and still unconfirmed.
BTC's utility is wrecked.
Same here. I've been waiting confirmation for $200 transaction almost 3 days. BTC is just attracting miners for high fees I think. In terms of real usage it's pretty useless.
Bitcoin is “as good as useless” and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world’s largest bitcoin industry websites.
Oldenburg has sold all his bitcoins and believes others will do the same when they realize how illiquid the market is, the entrepreneur told Swedish tech site Breakit.
Bitcoin's drawbacks are high fees and transaction lead times, and the resistance to change from people running the old bitcoin network.
Oldenburg believes there's a brighter future for Bitcoin Cash.
Sadly Bitcoin is broken.
It's basically unusable as a peer to peer platform which was the whole damn point.
I tried to transfer $600 of BTC and still unconfirmed.
BTC's utility is wrecked.
It's basically unusable as a peer to peer platform which was the whole damn point.
I tried to transfer $600 of BTC and still unconfirmed.
BTC's utility is wrecked.
Same here. I've been waiting confirmation for $200 transaction almost 3 days. BTC is just attracting miners for high fees I think. In terms of real usage it's pretty useless.
If a 1MB block takes 30 seconds to verify and validate, with the current code, wouldn't a 1GB block take 50 minutes to verify? Or is it not linear like that? I don't know, 1 block with transactions in it followed by 5 empty blocks seems inefficient. However, it appears the BCH team is working on this bottleneck, so why are we debating about my original concerns? The concern is no longer valid.
With Current Cable Bandwidth of 100 Mbits , 1 MB block can be transmitted in less than 1 second
100Mbits/8 = 12.5 megabytes per second
Even 8 MB blocks are nothing at modern internet speeds.
Correction: Original Node Verification was squared after every time interval ,
The Correct Verification is a Doubling with every increase in time interval
1 second= 2 Nodes Verified
2 second= 4 Nodes Verified
3 second= 8 Nodes Verified
4 second= 16 Nodes Verified
5 second= 32 Nodes Verified
6 second= 64 Nodes Verified
7 second=128 Nodes Verified
8 second=256 Nodes Verified
9 second=512 Nodes Verified
10 second=1024 Nodes Verified
11 second=2048 Nodes Verified
12 second=4096 Nodes Verified
13 second=8192 Nodes Verified
14 second=16384 Nodes Verified
15 second=32728 Nodes Verified
16 second=65456 Nodes Verified
17 second=130912 Nodes Verified
*Neither Bitcoin has over 20000 Full Nodes at the present time*
Once the normal is 1 Gbps
1 Gbps/8 = 125 megabytes per second
Once the normal is 10 Gbps
10 Gbps/8 = 1.25 gigabytes per second
(This can easily support 1 Gigabyte Blocks and some providers are running at this speed today.)
(Within 17 seconds the 1 Gigabyte block could propagate through ~130912 Nodes.)
Once the normal is 100 Gbs
100 Gbs/8 =12.5 Gigabytes per second
╥Aztek
From a common sense stand point my biggest concern short term is coinbase releasing there coins to there customers in the new year. Smart money who believe in this project will head to the sidelines wait for the smashing of the price and then load up.
not really....coinbase asked customers to remove thier btc before aug1 2017as back then they said they were not supporting it...
so many did withdraw to get free bch back then...
im sure there is still some left on coinbase, but dont be expecting a huge dump...it may not dump at all,
if everyone realises BCH is the real bitcoin, they may sell overpriced btc and actually buy more BCH
Jump to: