[ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 651.

serby10101010001100010

full member

Activity: 168

Merit: 100

Quote from: ?? on ??

Anyone got new news on China ban thing?

There you go "The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked not to be named because the information is private." "OKCoin, BTC China and Huobi, the country’s three biggest bitcoin exchanges, said on Monday that they hadn’t received any regulatory notices concerning bans on cryptocurrency trading. All three venues reported transactions on Monday, with bitcoin rising 6.3 percent on OKCoin as of 11:56 a.m. local time."

MartinGandhiKennedy

member

Activity: 70

Merit: 10

This is fun: every post Satoshi Nakamoto made in Bitcointalk you can just look at his profile

https://bitcointalksearch.org/user/satoshi-3

winding-coils

member

Activity: 168

Merit: 10

Will we see a pump, decline, or no change once the difficulty adjustment kicks in?

winding-coils

member

Activity: 168

Merit: 10

So now you're making a case for Jihan being a philanthropist? I'm really confused now Grin

BCC still hovering around $550 on cmc (for those of you who prefer mkt average and don't care for actual exchange market value)

johnsmithx

hero member

Activity: 589

Merit: 507

I don't buy nor sell anything here and never will.

Quote from: winding-coils on September 10, 2017, 02:23:44 PM

Let's humor this "profits bad" premise that is being suggested as though Jihan is some bad guy because his business exists to make profits... (isn't that the sole purpose of a company to exist in the free market?)

Not the sole purpose. It's not really a purpose at all, rather a requirement (and that's only because the state wants taxes). Various companies have various purposes for their existence, one of which might be making profit.

estenity

hero member

Activity: 1928

Merit: 538

Quote from: MartinGandhiKennedy on September 10, 2017, 07:53:27 PM

Fear.

not allowed if you engaged only an amount that you can afford to lose (permanently recommended).

MartinGandhiKennedy

member

Activity: 70

Merit: 10

Fear.

HostFat

staff

Activity: 4270

Merit: 1209

I support freedom of choice

Webmoney has added support to Bitcoin Cash: https://wmh.wmtransfer.com/

winding-coils

member

Activity: 168

Merit: 10

BCC fails to "crash" and the SegWitters come in hard core ^^ lol it's like clockwork

winding-coils

member

Activity: 168

Merit: 10

Let's humor this "profits bad" premise that is being suggested as though Jihan is some bad guy because his business exists to make profits... (isn't that the sole purpose of a company to exist in the free market?)

Now, ask yourself who funds Core? Where is that money come from and why do these entities pass the litmus test of not being ridiculed by you same individuals?

Now ask yourself of those who seek profits which ones are doing so at the expense of those who use this system vs those who make the case to improve the system in efforts to ease costs to users?

johnnarmst

newbie

Activity: 90

Merit: 0

Vulable profits are gained.Thanks to Bitcoin.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: bones261 on September 10, 2017, 12:38:30 PM

Quote from: tekmobile on September 10, 2017, 12:16:20 PM

Quote from: winding-coils on September 10, 2017, 11:46:15 AM

Bitcoin tops out at $5k and dips under $3k and crickets from the SegWitters

BCC hanging out around $450-550 Roll Eyes

The theory that miners don't want low fees is really interesting considering we have Jihan, Unnamed, Roger etc etc all begging (have been) for low fees and transaction times all of which are miners and all of which support the chain which supports low fees.... care to elaborate on that claim?

You will find it's more likely Jihan and co are against segwit and lightning taking fees away from the miners by keeping it all onchain they collect everything where with lighting the nodes get a very small cut of the off chain fee that could have been onchain and in the miners pockets

Bitmain etc are a for profit company their only goal is to maximise profits

How many companies do you know that think of ways they can reduce profits ?

I think it's a hoot that he is now financing testing to see if 1 GB blocks are feasible. https://twitter.com/JihanWu/status/904184380083519488
Forget the raspberry pi to run a node, you couldn't even run a node on a very high end gaming rig with those kinds of blocks. I think Wu even had an interview recently about this. He claims that IBM offers a server about the size of a brief case that runs the node, or something like that. I wonder how much that would set someone back if they wanted to run a node?

He is completely insane. (Jihan ofc, who else)

Now, if he makes an altcoin with 1gb blocks that's for sure not going to be named as bitcoin. It will more likely to be "paypal-coin cash"

If only a handful of nodes will be processing our transactions, why bother? Just use your credit card instead.

I hope every bitcoin user now understands why big blocks are stupid.

tekmobile

full member

Activity: 392

Merit: 154

Quote from: bones261 on September 10, 2017, 12:38:30 PM

Quote from: tekmobile on September 10, 2017, 12:16:20 PM

Quote from: winding-coils on September 10, 2017, 11:46:15 AM

Bitcoin tops out at $5k and dips under $3k and crickets from the SegWitters

BCC hanging out around $450-550 Roll Eyes

The theory that miners don't want low fees is really interesting considering we have Jihan, Unnamed, Roger etc etc all begging (have been) for low fees and transaction times all of which are miners and all of which support the chain which supports low fees.... care to elaborate on that claim?

You will find it's more likely Jihan and co are against segwit and lightning taking fees away from the miners by keeping it all onchain they collect everything where with lighting the nodes get a very small cut of the off chain fee that could have been onchain and in the miners pockets

Bitmain etc are a for profit company their only goal is to maximise profits

How many companies do you know that think of ways they can reduce profits ?

I think it's a hoot that he is now financing testing to see if 1 GB blocks are feasible. https://twitter.com/JihanWu/status/904184380083519488
Forget the raspberry pi to run a node, you couldn't even run a node on a very high end gaming rig with those kinds of blocks. I think Wu even had an interview recently about this. He claims that IBM offers a server about the size of a brief case that runs the node, or something like that. I wonder how much that would set someone back if they wanted to run a node?

Maybe try filling a 50-100Kb block first because right now that's proving difficult

bones261

legendary

Activity: 1806

Merit: 1828

Quote from: tekmobile on September 10, 2017, 12:16:20 PM

Quote from: winding-coils on September 10, 2017, 11:46:15 AM

Bitcoin tops out at $5k and dips under $3k and crickets from the SegWitters

BCC hanging out around $450-550 Roll Eyes

The theory that miners don't want low fees is really interesting considering we have Jihan, Unnamed, Roger etc etc all begging (have been) for low fees and transaction times all of which are miners and all of which support the chain which supports low fees.... care to elaborate on that claim?

You will find it's more likely Jihan and co are against segwit and lightning taking fees away from the miners by keeping it all onchain they collect everything where with lighting the nodes get a very small cut of the off chain fee that could have been onchain and in the miners pockets

Bitmain etc are a for profit company their only goal is to maximise profits

How many companies do you know that think of ways they can reduce profits ?

I think it's a hoot that he is now financing testing to see if 1 GB blocks are feasible. https://twitter.com/JihanWu/status/904184380083519488
Forget the raspberry pi to run a node, you couldn't even run a node on a very high end gaming rig with those kinds of blocks. I think Wu even had an interview recently about this. He claims that IBM offers a server about the size of a brief case that runs the node, or something like that. I wonder how much that would set someone back if they wanted to run a node?

tekmobile

full member

Activity: 392

Merit: 154

Quote from: winding-coils on September 10, 2017, 11:46:15 AM

Bitcoin tops out at $5k and dips under $3k and crickets from the SegWitters

BCC hanging out around $450-550 Roll Eyes

The theory that miners don't want low fees is really interesting considering we have Jihan, Unnamed, Roger etc etc all begging (have been) for low fees and transaction times all of which are miners and all of which support the chain which supports low fees.... care to elaborate on that claim?

You will find it's more likely Jihan and co are against segwit and lightning taking fees away from the miners by keeping it all onchain they collect everything where with lighting the nodes get a very small cut of the off chain fee that could have been onchain and in the miners pockets

Bitmain etc are a for profit company their only goal is to maximise profits

How many companies do you know that think of ways they can reduce profits ?

winding-coils

member

Activity: 168

Merit: 10

Bitcoin tops out at $5k and dips under $3k and crickets from the SegWitters

BCC hanging out around $450-550 Roll Eyes

The theory that miners don't want low fees is really interesting considering we have Jihan, Unnamed, Roger etc etc all begging (have been) for low fees and transaction times all of which are miners and all of which support the chain which supports low fees.... care to elaborate on that claim?

ChainSmoker

full member

Activity: 294

Merit: 100

Quote from: MartinGandhiKennedy on September 10, 2017, 02:42:56 AM

Lmao

http://fork.lol/reward/fees

Lol that simply means no one doing transactions in BCH chain.Good for miners to get that much fees in bitcoin chain.The less the block size,better for decentralization.I hope once LN gets activate in bitcoin the block size should be reduced to 500KB Grin

tekmobile

full member

Activity: 392

Merit: 154

Quote from: ?? on ??

Quote from: MartinGandhiKennedy on September 10, 2017, 02:42:56 AM

Lmao

http://fork.lol/reward/fees

lol! I swear I'm just waiting for exchanges to start renaming BTC to "Bitcoin Classic" and "BCH" to "Bitcoin". Grin

This is the most stupid observation ever

1. Bitcoin typically has around 2000 transactions a block compared to BCH that is usually under 50 so yes the reward in USD will be higher as there are many many more transactions in the block

2. Bitcoin is currently around $4000 while BCH is around $500 so yes the reward in USD will be much much higher as the market value in USD is much much higher per sat

Now let's take a vastly higher transaction count and multiply it with a vastly higher valued coin and explain to be why it is so much higher Wink

It's like saying you have 1 BCH transaction with a $1000 fee is twice as good as 8000 BTC transactions each with a $0.25 fee

In the above example the BCH block would have a $1000 reward while the BTC would have a massive $2000 reward so clearly is less superior Undecided

Now when block rewards fall to almost nothing and the miners have to rely on just tx fees which one will be the most attractive

high tx count with high market value = high profit
or
low tx count with low market value = low profit

blackjok3r

newbie

Activity: 35

Merit: 0

What? Low fees are much better, more people will use it. Opens up micro payments, which was one of BTC's biggest use cases early on.

BillCoin

sr. member

Activity: 476

Merit: 259

Quote from: MartinGandhiKennedy on September 10, 2017, 02:42:56 AM

Lmao

http://fork.lol/reward/fees

lol this is so funny.

And some people think that lower fees are better.

Lower fees mean weaker network at the long run.
Miners won't mine for a low cost, and at the moment bitcoins would stop being mined and only fees will be remained, miners would literally won't earn anything.

Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 651. (Read 704812 times)