Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 582. (Read 704412 times)

I wonder if bitcoin gold can beat bitcoin cash? Let's see a week again.

https://twitter.com/CremeDeLaCrypto/status/922643765579227136

At any rate, this author did not make a mistake when he posted this comment on twitter. Then the decline in support for BTC is a direct consequence to what the market (i.e investors and traders) view, at best as a non-event, at worst, a failure.

EDIT: in both cases, this does not look good, and I don't have to press hard for evidences, it's all over the news:

https://cointelegraph.com/news/fud-for-bitcoin-praise-for-blockchain-royal-bank-of-canada-ceo-on-crypto

There is little doubting that Blockchain technology is here to stay, and there are many traditionalists that are getting excited about that technology while also shunning its offshoot, Bitcoin.

McKay is in this same boat, backing the underpinning technology.

"Most people in the world aren't talking about Bitcoin. They're talking about Blockchain, the distributed ledger private or public that underpins the Bitcoin application of it," said McKay."

https://www.cryptocoinsnews.com/non-government-digital-currency-junk-says-mastercard-ceo-rejecting-bitcoin/

"If I pay for a bottle of water in Bitcoin, one day it is two bottles for a Bitcoin the other day it is 9,000 bottles. This does not work. Any currency needs stability and transparency, otherwise you will get all the illegal activities in the world. Why was the ransom for the virus (wannacry ransomware) collected in bitcoin? Why has China cracked down on bitcoin?"


https://www.cointelegraph.com/news/why-does-bitcoin-fail-as-a-payment-system

"One of the reasons there is a fee is because the larger the transaction data size, the longer and more energy it will take miners to validate the data,” Analysts at Bank of America Merrill Lynch said."

Last but not least: “Fees are not strictly enforced like transaction fees in normal banking, but if you don’t include appropriate fees, there is a serious risk that a transaction won’t be processed by a miner.”

Author of the linked article made a mistake. BTG fork is indeed scheduled in Nov, but the distribution will be done as per 'snapshot' block, which was mined yesterday.

So, if anything, the dip in price could indicate that a lot of bitcoins have been purchased for the sole purpose of claiming free BTG, and those bitcoins have been dumped (either for fiat or alts) right after the snapshot block.

What is your view of the new btg, will you pull down the price?
I am more worried about this problem

I think your the only person here lol

To further illustrate my point in case you brain dead slow mofos did not get that right, market has decided: https://www.cryptocoinsnews.com/bitcoin-price-dips-below-5800-while-ethereum-recovers-beyond-300/

"Earlier today, on October 24, the bitcoin price dipped below $5,800 for the first time since October 19, due to the market’s decline in support for the upcoming Bitcoin Gold hard fork."

I'm quoting myself lol

You guys whish you knew what you were talking about?

http://www.newsbtc.com/2017/10/24/coinbase-list-bitcoin-btc-segwit2x-hard-fork-november-full-transparency/

"Evidently, it is difficult to justify which forks of bitcoin is the majority chain and hashrate should not be used as a sole indicator. As bitcoin investor and Atlanta Digital Currency Fund partner Alistair Milne stated, miners tend to follow the more profitable chain and hash rate could very easily migrate from one chain to another, as seen in the case of Bitcoin Cash (BCH).

Milne wrote:

“Miners follow the money, they do not lead the money. This has never been illustrated more clearly than by Bitcoin Cash and the joke that is their difficulty adjustment algorithm. A rational miner fears the market negatively valuing the tokens they are trying to mine. They are extremely sensitive to profit and loss (no matter how rich they pretend to be). “

For instance, hypothetically, if companies have implemented the strategy of Xapo and listed Bitcoin Cash (BCH) as BTC and the majority chain upon its hard fork due to its hash rate, it would have caused extreme confusion amongst bitcoin users because the majority of miners and hashrate moved back to bitcoin once Bitcoin Cash became less profitable to mine."


                                                        Coinbase on Bitcoin Gold

Coinbase has shared the same sentiment with Bittrex and Trezor, and stated that Bitcoin Gold is not ready and unsecure.

“The Bitcoin Gold fork is projected to take place on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time,” said the Coinbase team.

It is likely that Coinbase will not add support for Bitcoin Gold until the Bitcoin Gold development team adds necessary replay protection and completes its codebase.

I second  that: https://blockcollider.org/#startx

"Transactions between blockchains is the most demanded feature for 2018."

https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-pioneer-says-new-coin-to-work-on-multiple-blockchains

"Bitcoin Pioneer Says New Coin to Work on Multiple Blockchains"

I sincerely hope that you guys aren't that stupid to buy into that line: https://www.coinspeaker.com/2017/10/24/bitcoins-new-hard-fork-named-bitcoin-gold-already-active/

"When a group of Bitcoin users and companies split the world’s most popular cryptocurrency into two different versions on August 1st, 2017, it was an unprecedented event in the Bitcoin’s 9-year old history. Now just 84 days after that “hard fork,” as such splits are known, yet another version of Bitcoin has been created named ‘Bitcoin Gold’."

"“the purpose of Bitcoin Gold is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of which have engaged in abusive practices against individual miners and the Bitcoin network as a whole.”


https://news.bitcoin.com/several-bitcoin-service-providers-reveal-segwit2x-splitting-plans/

 The company also notes that Segwit2x doesn’t have replay protection, but Coinbase has initiated its own replay safeguard. David Farmer, the Coinbase director of communications, also wrote a separate blog post for the company, revealing its “timeline and support” for both Segwit2x and the bitcoin gold fork. However, the San Francisco company emphasizes that “there are concerns about its [bitcoin gold] security and stability.”  

"Gatecoin Exchange Refuses to Support Segwit2x, Customers Must Withdraw 12 Hours Before Block 494784"

https://www.reddit.com/r/btc/comments/78dqfy/due_to_segwits_weaker_security_wont_the_segwit1x/

I beg to disagree, of course something can be done about it, but don't worry, someone will address this issue sooner than later....

I think it might generate some postive influence, there is no premine in BCH anyway.

Agree, BCH price keeps dropping since it started. No wonder it will happen again now. I just dont get it why they are still doing this hard fork etc.
But still those coins have value now. Thats the only best thing that happened. I wish bch will recover its original value or will increase in the coming months.

Good question, I think it won't affect BCH much, it has a few supporters and speculators, although BCH has been on a downtrend anyway.

@Tek: see how valuable bc[g]* is from the tweet issued by poloniex (which, on a side note, has been widely acknowledged among traders and investors as one of the few "reluctant" exchange to list scammy coins): https://twitter.com/Poloniex/status/922696754667098113

NOTICE ABOUT BITCOIN GOLD

We have received inquiries about Bitcoin Gold and whether we intend to support it. Until the software is released for review, we cannot commit to distribution nor can we pledge to support it. The reason for this is that we cannot be certain about the security and stability of the software, nor the state or health of the network prior to launch. Further, regardless of what the project team behind the new token may assert to the exchanges prior to launch, we must be confident that a blockchain token does not require dangerous and questionable activities in order to support it.

We've stated in the past that the safety of our users' tokens is our chief concern. As such, we have refused to support a forked token unless it had implemented replay protection. We would like to further urge our users to be immensely cautious of any token that expects to be given private keys that control value on another blockchain. This is dangerous and unnecessary, even for an alt like BTG that seeks to distribute tokens using the state of an existing blockchain.

Some reminders that apply to all balance-duplicating alts:

If you wish to be guaranteed tokens distributed according to existing blockchain address balances, you should keep your tokens in addresses for which you control the private keys.
If we credit accounts with forked tokens, we will do so according to balances at the time of the fork. If you have tokens on loan at the time of any fork related to that token, they are not in your balance, therefore you will not receive any forked tokens for them.
Under no circumstances will we redeem tokens distributed according to the balances of addresses that contain customer funds and keep them for ourselves. Should we redeem them, we would only do so to distribute them to our users.
- The Poloniex Team

I'm not denying that we would be better off with just the one but there is nothing that can be done about it though so you have to take what you get

No matter if you like the core chain or not it's the only one that's been consistent and reliable and the one all forks are coming from

SegWit2x is loosing support fast even coinbase the biggest B2X supporter going has changed their stance and will still list BTC as the core chain and refer to the Segwit2x chain as B2X

Might also explain why: https://www.cryptocoinsnews.com/coinbase-now-lets-you-buy-bitcoin-instantly-with-a-us-bank-account/

"The company says it will continue to expand the availability of this feature during the coming months."

You're missing the point, investors, traders, miners, coders, developers, users: everyone involved in cryptocurrencies is being screwed with every new blockchains released, pure and simple. Take bch for instance, it has dropped 23% since July.

What am I reading on reddit.com? "Is Seg[shit]* Collapsing?"

https://www.reddit.com/r/btc/comments/78dagz/is_segwit_collapsing/

quote Blockstream ran out of money to create fake segwit transactions? unquote.

https://twitter.com/BitcoinPutin/status/922691907788173312

"Seems the segwit spammer is running out of funds"