[ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 691.

winding-coils

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Quote from: tekmobile on August 27, 2017, 09:05:26 AM

Quote from: gnurta on August 27, 2017, 08:53:21 AM

http://fork.lol/pow/hashrate
I think bitcoin miners are exploiting bitcoin cash mining difficulty algorithm. There is a clear pattern in the hashrate graph.

It's known fact and was seen from day one that's the way it was programmed but the very exploit it also what will cause it's death

It's funny how those who didn't write the pseudo or code for the coin make these claims... funny how it lived for $200+ after the epic crash after the airdrop

and here it's been growing, taking the hash from segwit, but it's causing its death?

Interesting observations.

Asyifiah

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Enterapp Pre-Sale Live

The reason why I posted so much about BCH is because it is basically an attack on Bitcoin. Needed to call out the absurdity as I see it.
In 4 hours, BCH diff will go up 4x and blocks will take hours. If you want to move your BCH coins, move them now.

tekmobile

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Quote from: gromit11 on August 27, 2017, 11:16:09 AM

re: wild swings in hashrate-- I assume everyone has seen this article?

https://medium.com/@Mengerian/bringing-stability-to-bitcoin-cash-difficulty-adjustments-eae8def0efa4

I think it's a thoughtful and balanced perspective.

He links to Amaury's most recent post:
https://lists.linuxfoundation.org/pipermail/bitcoin-ml/2017-August/000136.html

Amaury's point, in a nutshell, is that the difficulty swings we are seeing in Bitcoin Cash are nothing (relatively) compared to the general level of uncertainty we will see in the bitcoin network over the next 3 months. The difficulty swings are an inconvenience but don't threaten the fundamental underlying stability of Bitcoin Cash. If you want to remember how crazy things can get with Bitcoin, recall what happened in 2013... https://bitcoinmagazine.com/articles/bitcoin-network-shaken-by-blockchain-fork-1363144448/

Anyways, the set of articles convinces me that (a) the difficulty swings were predicted by the Bitcoin Cash devs; (b) there are very smart people on Bitcoin Cash thinking about the difficulty problems and (c) it's nonfatal in the near term and (d) several potential ways to solve over the longer term.

From reading the first post the bitcoin cash devs are working to fix the hashrate manipulation problem but would require another hard fork

gromit11

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re: wild swings in hashrate-- I assume everyone has seen this article?

https://medium.com/@Mengerian/bringing-stability-to-bitcoin-cash-difficulty-adjustments-eae8def0efa4

I think it's a thoughtful and balanced perspective.

He links to Amaury's most recent post:
https://lists.linuxfoundation.org/pipermail/bitcoin-ml/2017-August/000136.html

Amaury's point, in a nutshell, is that the difficulty swings we are seeing in Bitcoin Cash are nothing (relatively) compared to the general level of uncertainty we will see in the bitcoin network over the next 3 months. The difficulty swings are an inconvenience but don't threaten the fundamental underlying stability of Bitcoin Cash. If you want to remember how crazy things can get with Bitcoin, recall what happened in 2013... https://bitcoinmagazine.com/articles/bitcoin-network-shaken-by-blockchain-fork-1363144448/

Anyways, the set of articles convinces me that (a) the difficulty swings were predicted by the Bitcoin Cash devs; (b) there are very smart people on Bitcoin Cash thinking about the difficulty problems and (c) it's nonfatal in the near term and (d) several potential ways to solve over the longer term.

tekmobile

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Quote from: serby10101010001100010 on August 27, 2017, 10:54:08 AM

Quote from: Toden1379 on August 27, 2017, 10:45:52 AM

I know I did Grin

... but I'm still holding some which I bought waaaay up there... Embarrassed

Hold it till your last fucking breath, lol

I'm sure that advise was also gold when the value was over $800 too week on week it's been on a slow decline with the odd little breakout but slowly making its way back to $300

serby10101010001100010

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Quote from: Toden1379 on August 27, 2017, 10:45:52 AM

I know I did Grin

... but I'm still holding some which I bought waaaay up there... Embarrassed

Hold it till your last fucking breath, lol

serby10101010001100010

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Quote from: ?? on ??

Quote from: serby10101010001100010 on August 27, 2017, 10:05:32 AM

Nice little BCH breakout BTW, hope you guys saw this trading opportunity.

Yes, I paniced and sold 5 minutes too soon. Lost $30 instead of profit lot more... LOL... I'm an idiot.

You're not an idiot, just need to be more patient, I admit it's easier said than done when it comes to make money, frustration lurks in....

Toden1379

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I know I did Grin

... but I'm still holding some which I bought waaaay up there... Embarrassed

serby10101010001100010

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Nice little BCH breakout BTW, hope you guys saw this trading opportunity.

serby10101010001100010

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Quote from: ?? on ??

Quote from: xmofuffo on August 27, 2017, 09:06:57 AM

Hopefully Bitcoin Cash will be used more as the tx fees are way way lower.

BTC fees now are a joke, its like blackmailing. Transfers being denied, or taken hostage many many hours on the blockchain, punnishing users for paying too little fees. Ya right, very decentralized, where is the competition taking my lower fees? Oh yaeh, its a cartel of pools, very decentralized yeah sure. We went from fees was nothing, a few satoshi to now, 50K+ satoshi and fee still too low? Dang one can get many alt coins for these amounts. This is blackmailing in my opinion. BTC is not cheap transfers nor is it fast. Banks are cheaper and faster now lol. Might be cheaper to buy altcoins for transfers even with exchange fees. BTC biting the hand that feeds them in my opinion.

Edit: Meanwhile BTC price went up millions of % but fees went up in satoshi too lol.

Exactly! The fee and waiting time when I moved my BTC was ridiculous, seems that BTC is only for the rich and the miners trying to use people's ignorance as much as they can and grab all the free money they can get!

I you refer to individual miners, I highly doubt they're rich people.

serby10101010001100010

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Quote from: ?? on ??

Quote from: tekmobile on August 27, 2017, 09:03:23 AM

Quote from: theleaf on August 27, 2017, 08:23:38 AM

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

Bitcoin cash has not been around a couple of months it was born 1st august and the only reason it gets so much hate is because it was made to try and destroy bitcoin

Litecoin was a clone of bitcoin but gets no hate plus some other coins that use the name bitcoin that get no hate.

Bitcoin cash was created to cause confusion and to try and replace the dominant chain by bitmain this is what people take issue with not the fact it was cloned

I disagree, well, I don't know their true motives but so far, BCH is more "original bitcoin" than BTC because BTC is/will rely on third party and is/has moved towards centralization whereas BCH is still decentralized and also with MUCH lower fees. The only problem is that people are not yet aware of this fact.

In my humble opinion, they should have even named BCH "~~Bitcoin~~" just for the hell of it! *lol* (joking)

EDIT: Bitchcoin (jk)

serby10101010001100010

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Quote from: tekmobile on August 27, 2017, 09:03:23 AM

Quote from: theleaf on August 27, 2017, 08:23:38 AM

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

Bitcoin cash has not been around a couple of months it was born 1st august and the only reason it gets so much hate is because it was made to try and destroy bitcoin

Litecoin was a clone of bitcoin but gets no hate plus some other coins that use the name bitcoin that get no hate.

Bitcoin cash was created to cause confusion and to try and replace the dominant chain by bitmain this is what people take issue with not the fact it was cloned

Wasn't it created to keep the blockchain decentralized?

xmofuffo

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Hopefully Bitcoin Cash will be used more as the tx fees are way way lower.

BTC fees now are a joke, its like blackmailing. Transfers being denied, or taken hostage many many hours on the blockchain, punnishing users for paying too little fees. Ya right, very decentralized, where is the competition taking my lower fees? Oh yaeh, its a cartel of pools, very decentralized yeah sure. We went from fees was nothing, a few satoshi to now, 50K+ satoshi and fee still too low? Dang one can get many alt coins for these amounts. This is blackmailing in my opinion. BTC is not cheap transfers nor is it fast. Banks are cheaper and faster now lol. Might be cheaper to buy altcoins for transfers even with exchange fees. BTC biting the hand that feeds them in my opinion.

Edit: Meanwhile BTC price went up millions of % but fees went up in satoshi too lol.

tekmobile

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Merit: 154

Quote from: gnurta on August 27, 2017, 08:53:21 AM

http://fork.lol/pow/hashrate
I think bitcoin miners are exploiting bitcoin cash mining difficulty algorithm. There is a clear pattern in the hashrate graph.

It's known fact and was seen from day one that's the way it was programmed but the very exploit it also what will cause it's death

tekmobile

full member

Activity: 392

Merit: 154

Quote from: theleaf on August 27, 2017, 08:23:38 AM

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

Bitcoin cash has not been around a couple of months it was born 1st august and the only reason it gets so much hate is because it was made to try and destroy bitcoin

Litecoin was a clone of bitcoin but gets no hate plus some other coins that use the name bitcoin that get no hate.

Bitcoin cash was created to cause confusion and to try and replace the dominant chain by bitmain this is what people take issue with not the fact it was cloned

gnurta

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Activity: 76

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http://fork.lol/pow/hashrate
I think bitcoin miners are exploiting bitcoin cash mining difficulty algorithm. There is a clear pattern in the hashrate graph.

serby10101010001100010

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Quote from: theleaf on August 27, 2017, 08:23:38 AM

Quote from: 1Click Medical on August 27, 2017, 04:34:46 AM

Quote from: tekmobile on August 26, 2017, 05:34:53 PM

Quote from: imab on August 26, 2017, 05:27:17 PM

https://twitter.com/SatoshiLite/status/901537790243909632
¬¬

I sold BCH and moved(temporary) into USDT... i hope i did the right thing.. thoughts? weak hand or smart move?

Yea in a couple of hours BCH should become around 240% less profitable (I have seen it estimated at one point to be over 300%) essentially BTC miners will earn almost 3x as much as a BCH miner and all miners will most likely abandon the network again probably just for a day though until the EDA kicks in and drops it until blocks are mined at 2m intervals for a couple of days rince and repeat as long as possible until one day people have enough

I am not a btc maximalist but btc will always be king.

Never forget our roots!

Ken

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

Users may even have a bigger say, agreed.

x2666

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Quote from: theleaf on August 27, 2017, 08:23:38 AM

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

For like the billionth time, Bitcoin is now a general term that is nonspecific between BCH and BTC.

The main chain forked into two tokens. Bitcoin and Bitcoin Cash which are both the original BTC with additional code.

Might be better to call it BTCS and BTCC, that's the truer representation of what has occurred.

Welds1977

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whats with the hashrate ? it goes like a roller coaster.

theleaf

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Quote from: 1Click Medical on August 27, 2017, 04:34:46 AM

Quote from: tekmobile on August 26, 2017, 05:34:53 PM

Quote from: imab on August 26, 2017, 05:27:17 PM

https://twitter.com/SatoshiLite/status/901537790243909632
¬¬

I sold BCH and moved(temporary) into USDT... i hope i did the right thing.. thoughts? weak hand or smart move?

Yea in a couple of hours BCH should become around 240% less profitable (I have seen it estimated at one point to be over 300%) essentially BTC miners will earn almost 3x as much as a BCH miner and all miners will most likely abandon the network again probably just for a day though until the EDA kicks in and drops it until blocks are mined at 2m intervals for a couple of days rince and repeat as long as possible until one day people have enough

I am not a btc maximalist but btc will always be king.

Never forget our roots!

Ken

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 691. (Read 704812 times)