Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 883. (Read 704562 times)

To experience traders and investors, any logical speculation for alt price when Bitcoin forks, August 1st??? Many Thanks

Frankly,

It’s a “Triple-S Maneuver”, violating a “Triple-S Principle”. “Stupidly Short-Sighted” for the necessary principle reasons of “space”, “security”, and “sobriety”.

Right now Bitcoin wisely benefits from a 1 MB block restriction (planned for 2MB in a few weeks). With Segregated Witness — which is apart from a block size increase—almost 3/4 more space is available in each block for transactions. Another way of putting it, SegWit immediately quadruples the On-Chain transaction capacity, even “before” a block size increase.

After 7 years of history, the entire user-auditable Bitcoin blockchain fits inside 136.5 GB. Absolutely BRILLIANT. With the (current) 1MB limit, the blockchain only increases in size 1MB every 8 minutes or so. Again, BRILLIANT.

With SegWit, we obtain 2 very valuable benefits before increasing the physical block size.

The first benefit is: Quadrupling the effective capacity of each 1 MB block. The following is what this looks like:

1st Block(now): 1MB (8 present mins) worth of transactions.
1st Block(SegWit): 1MB (4MB compressed) (32 present mins) worth of transactions.

2nd Block(now): 2MB (16 present mins) worth of transactions.
2nd Block(SegWit): 2MB (8MB compressed) (64 present mins) worth of transactions.

3rd Block(now): 3MB (24 mins, present) worth of transactions.
3rd Block(SegWit): 3MB (12MB compressed) (96 present mins) worth of transactions.
and so on…

With an uncompressed 8MB block, every 8 mins, the brilliantly-executed, user-accessible blockchain just became “user-unmanageable”, “user-inaccessible”, and “user-unauditable”.

“Stupid.”

("Prune" is not an acceptable solution for real full nodes and real user auditing).

The second valuable benefit provided by SegWit:

“SegWit also solves the problem where a receiver could intercept and modify the sender’s transaction ID in a bid to get more coins from the sender. Since the digital signature would be detached from the input, the unscrupulous party would have no way of changing the transaction ID without also nullifying the digital signature.”
 —  http://www.investopedia.com...

Removing SegWit without a sufficient, tested substitute:

“Stupid.”

Regarding the third reason, “sobriety”:

a) The miners can now process 8 times the uncompressed transactions per block, asking for a compensating fee rate which, for the vast, most part, has been “the standard”, and not the exception. It has only been in recent times of market congestion — which for my experience has usually only been during the Western Hemisphere’s daytime — that the demand sometimes exceeded reasonable transaction fees. Many well know that at night the transaction rate almost always dropped to a regular, Memory Pool-clearing level. Did we have a scaling problem? What endeavor comparable to Bitcoin never did??? We have largely, hitherto managed to address it at a market-acceptable pace.

As if BCC and supporters are making this decision in the Far-sighted best interest of Bitcoin…

“Stu-

b) This maneuver immediately i) artificially inflates the Bitcoin value ( "AIRDROPPED MONEY" ARE YOU KUFFING SERIOUS???), and ii) continues to contribute to the damaging, somewhat-undeserved reputation of Bitcoin being a shady, grey-black market, law-less and controlled by “Power” as opposed to “Pensament”.

-Pid”

I'm cross-posting this question here because I haven't found any answer to this yet:


How so? I have checked the UAHF technical specs but it seems that it only addresses the replay protection issue.

Depends on the exchange. Some already have a coin listed as BCC, so they use BCH, like Kraken. Yobit using BCC.

So what kind of abbreviation are you guys using for your Bitcoin Cash now? Have you decided on that?
BCC is bitconnect. I heard somewere it might be BCH, is that correct?

Can anyone tell me if I will be able to mine from the console in a fully synced BCC wallet on August 1st?

Thanks.

I'll buy their coin at the price of $1 or lesser.

Looks like chinese exchanges are dead. No volume.

you are awesome! Thanks

Livecoin also support BCC, you can trade your BBC once you are credited. But they just closed bitcoin transaction yesterday

BITCOIN CASH FORK NEWS
Created 29.07.2017 09:42
Dear clients, we'll do our best to credit your accounts with Bitcoin Cash fork. We'll use ticker BCH, since BCC is already used by another asset. As soon as we credit your accounts with BCH, trading will be available. We're planning to run the next trading pairs: BCH/BTC, BCH/ETH, BCH/USD, BCH/RUR.
Today is the last day when you can deposit BTC to our Exchange, at the end of the day deposit/withdrawal will be closed.

@alani123
I've asked them about the sha256 hashes on the slack channel.

EDIT:
Yes, they will also show the sha256 hashes.

Anyone know which wallets will be supporting private key importing for BCC?

Will electrumcash.org only be updated after the fork? I hope it won't go down under heavy load then because this doesn't sound like a good idea. At the very least there should be alternative, fail safe hosts. Can devs release a sha256 hash of the windows binaries in advance in case an overload happens, so we can verify alternative downloads?

Me too, I will dump the second it can be traded and laugh so hard at the panic that will follow.

At least it's a good opportunity to buy up more bitcoin right after.

I still haven't claimed my BitcoinCore balance (Claimable until November), maybe save it for a rainy day just like this one

I'm about to dump this so hard 

You are wrong.
You should go back and look again at the bitcoin.pdf: https://bitcoin.org/bitcoin.pdf
Nowhere you will find 1 CPU = 1 VOTE.
You will find instead 7 times: "CPU power"

This is the consensus I haven't seen a poll where members are voting to dump or keep Bitcoin cash in my opinion Bitcoin cash is just another altcoin so it deserves to be dump but of course at the best possible price.

A bulk of the posts here are inquiries on how to claim BCC, and they appear to have a somewhat urgent tone. The only reason that I see someone wanting to claim this urgently, is to dump at the best price possible.

Interesting everyone is predicting the same BCC/BCH  
We will know it soon..

speculation.