Blockstream employee delivers the bad news for BitcoinCore coin. - page 2.

25hashcoin

hero member

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Quote from: ?? on ??

Quote from: 9000 on August 08, 2017, 12:22:28 PM

Quote from: 25hashcoin on August 08, 2017, 09:48:09 AM

Meanwhile Bitcoin Cash like: https://zander.github.io/posts/bcc-fees/

Cool

Hold your Bitcoin Cash. Selling could be the worst mistake of your life.

The guy is right, Bitcoin Cash fees will stay the same, because nobody will use Bitcoin Cash, no demand -> no fees.

Would like to see some stress tests on that network to see how it behaves.

Or ask BitcoinCash developer or supporters how BitcoinCash prepare to handle lots of transaction without use SegWit, LN or similar solution. Even New SigHash Type and 8MB is only temporary solution and as far as i know they don't have long-term plan.

Segwit does just about nothing for scaling and BitcoinCash already has 8mb blocks with plans to keep scaling on chain. Bitcoin Cash will also receive L2 before BitcoinSegwit. Sounds like you didn't think your post through.

9000

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Quote from: 25hashcoin on August 08, 2017, 09:48:09 AM

Meanwhile Bitcoin Cash like: https://zander.github.io/posts/bcc-fees/

Cool

Hold your Bitcoin Cash. Selling could be the worst mistake of your life.

The guy is right, Bitcoin Cash fees will stay the same, because nobody will use Bitcoin Cash, no demand -> no fees.

Would like to see some stress tests on that network to see how it behaves.

25hashcoin

hero member

Activity: 574

Merit: 500

Quote from: hatshepsut93 on August 08, 2017, 10:45:45 AM

Quote from: 25hashcoin on August 07, 2017, 10:12:19 PM

https://medium.com/@rusty_lightning/dear-bitcoin-im-sorry-fees-will-rise-b002b1449054

Looks like Blockstream, leaders of BitcoinCore coin (BTC) are warning of an impending fee disaster that could cripple their chain.

Whatever you do, hold onto your BitcoinCash. Things are about to get a little crazy.

Edit: Bitcoin Cash promises cheaper and cheaper fees: https://zander.github.io/posts/bcc-fees/

You are just spreading FUD and shilling for your shitcoin, instead of trying to present some technical argument. I can only feel sorry for newbies who get influenced to buy shitcoins by posts like this.

Now, in reality what that article was saying is that there are hardware limitations that don't let Bitcoin's network to process as much transactions as PayPal or Visa. Big blocks increase capacity at expense of decentralization and security, and this is why no one really wants them. There are countless shitcoins that have bigger and/or faster blocks, time has proven that this does not work, and no one really wants it.

The article is written by a liar. Bitcoin Cash will scale on chain to greater than Visa as stated by Satoshi.

hatshepsut93

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Activity: 3038

Merit: 2162

Quote from: 25hashcoin on August 07, 2017, 10:12:19 PM

https://medium.com/@rusty_lightning/dear-bitcoin-im-sorry-fees-will-rise-b002b1449054

Looks like Blockstream, leaders of BitcoinCore coin (BTC) are warning of an impending fee disaster that could cripple their chain.

Whatever you do, hold onto your BitcoinCash. Things are about to get a little crazy.

Edit: Bitcoin Cash promises cheaper and cheaper fees: https://zander.github.io/posts/bcc-fees/

You are just spreading FUD and shilling for your shitcoin, instead of trying to present some technical argument. I can only feel sorry for newbies who get influenced to buy shitcoins by posts like this.

Now, in reality what that article was saying is that there are hardware limitations that don't let Bitcoin's network to process as much transactions as PayPal or Visa. Big blocks increase capacity at expense of decentralization and security, and this is why no one really wants them. There are countless shitcoins that have bigger and/or faster blocks, time has proven that this does not work, and no one really wants it.

Thatstinks

sr. member

Activity: 249

Merit: 250

Quote from: manselr on August 08, 2017, 09:51:11 AM

Quote from: 25hashcoin on August 08, 2017, 09:48:09 AM

Meanwhile Bitcoin Cash like: https://zander.github.io/posts/bcc-fees/

Cool

Hold your Bitcoin Cash. Selling could be the worst mistake of your life.

Nobody is using Bitcoin Cash other than people making transactions to dump it for BCC. Nobody but some idiots would want to have Bitcoin nodes centralized inside china. Nobody wants a coin that is mined by "ViaBTC + "other"" (BitmainCoin).

Accept defeat already. Bitcoin Crash was DOA. It may have artificial pumps here and there like ETC: doesn't matter.

Ya no one uses it after one week, wow its dead LOL

You sound like someone who dumped your BCH early and now realize you goofed up like tons of others.

Bitcoin Cash IS the real Bitcoin now and will only get bigger and stronger as the weeks go by.

manselr

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Activity: 868

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Quote from: 25hashcoin on August 08, 2017, 09:48:09 AM

Meanwhile Bitcoin Cash like: https://zander.github.io/posts/bcc-fees/

Cool

Hold your Bitcoin Cash. Selling could be the worst mistake of your life.

Nobody is using Bitcoin Cash other than people making transactions to dump it for BCC. Nobody but some idiots would want to have Bitcoin nodes centralized inside china. Nobody wants a coin that is mined by "ViaBTC + "other"" (BitmainCoin).

Accept defeat already. Bitcoin Crash was DOA. It may have artificial pumps here and there like ETC: doesn't matter.

25hashcoin

hero member

Activity: 574

Merit: 500

Meanwhile Bitcoin Cash like: https://zander.github.io/posts/bcc-fees/

Cool

Hold your Bitcoin Cash. Selling could be the worst mistake of your life.

manselr

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Activity: 868

Merit: 1006

Quote from: Red-Apple on August 08, 2017, 07:55:55 AM

well it is sad to admit but if that happens, bitcoin dies. simple.
people won't continue using bitcoin if the fees continuously go up. and you know fees go up because there are more transaction than there is block size which means some tx won't confirm.
people will simply switch to an altcoin or build a bitcoin from zero block and with 0 MB blockchain size.

and don't get excited the 8 MB block is even worse. the centralization that brings is 100 times worse.

Bitcoin will never die. People that cannot afford on-chain fees will get kicked out of the network, because decentralization is expensive, but you got sold the lie of it being cheap.

If you cannot afford onchain transaction, wait for LN, which is better than any other shitcoin or the banking system of course.

The fees will go up a lot because of Roger Ver spam, because we are still far from real mainstream usage.

User365

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Activity: 434

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physics, mathematics and engineering

Quote from: Script on August 08, 2017, 08:08:15 AM

That's why building second layer is so important, onchain cannot scale, people are deluded if they think just increasing blocksize helps scaling, it only helps digging a bigger hole and making bitcoin centralized, centralized as in requiring $20k computers to run full nodes and rewarding big miners.

I agree, we need a seconed layer solution, wich must be open source!

I think the lightning network has code parts which are closed source, so that´s no option. We need a seconed layer open source solution. Or something else (a yet undiscovered technology), but increasing blocksize is redicoulous, don´t use BCC it will crash!

audaciousbeing

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Quote from: 25hashcoin on August 07, 2017, 10:12:19 PM

https://medium.com/@rusty_lightning/dear-bitcoin-im-sorry-fees-will-rise-b002b1449054

Looks like Blockstream, leaders of BitcoinCore coin (BTC) are warning of an impending fee disaster that could cripple their chain.

Whatever you do, hold onto your BitcoinCash. Things are about to get a little crazy.

Having read the news, I must say I am saddened by if it eventually comes to play because it would all the controvery about August 1 that was expected to solve among other issues concerning fee reduction will be a total waste of time and we will be back to where we started from. I am sure the discussion will still get heated in the coming days but hopefully we get something to rely upon because the way they are going, they might be nobody left in bitcoin.

Script

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That's why building second layer is so important, onchain cannot scale, people are deluded if they think just increasing blocksize helps scaling, it only helps digging a bigger hole and making bitcoin centralized, centralized as in requiring $20k computers to run full nodes and rewarding big miners.

coolcoinz

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Activity: 2814

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Hold on to what? People have already dumped their BCC.

Is this your attempt to pump it, so you can sell your stash, OP? The only reason BCC stopped at 0.05BTC was that people felt it's going to get pumped again to at least 0.1 and it was. I believe it's going to get even higher, maybe 0.15, but that's it. It's not worth more.

Red-Apple

hero member

Activity: 1470

Merit: 655

well it is sad to admit but if that happens, bitcoin dies. simple.
people won't continue using bitcoin if the fees continuously go up. and you know fees go up because there are more transaction than there is block size which means some tx won't confirm.
people will simply switch to an altcoin or build a bitcoin from zero block and with 0 MB blockchain size.

and don't get excited the 8 MB block is even worse. the centralization that brings is 100 times worse.

CryptosapienZA

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Activity: 378

Merit: 101

Unfortunately they dont care. So I guess this is not news. I read a paper written by one of their developers, it clearly states that high fees are here to stay. Will look for that paper and post here.

25hashcoin

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Activity: 574

Merit: 500

https://medium.com/@rusty_lightning/dear-bitcoin-im-sorry-fees-will-rise-b002b1449054

Looks like Blockstream, leaders of BitcoinCore coin (BTC) are warning of an impending fee disaster that could cripple their chain.

Whatever you do, hold onto your BitcoinCash. Things are about to get a little crazy.

Edit: Bitcoin Cash promises cheaper and cheaper fees: https://zander.github.io/posts/bcc-fees/

Topic: Blockstream employee delivers the bad news for BitcoinCore coin. - page 2. (Read 1427 times)