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Non upgraded clients will follow any miners who mine a 1 MB chain.
Several exchanges will list Core's legacy 1MB coin as "Bitcoin" I suspect, creating a market to mine it.
It will get hashpower, from who? Who knows, perhaps a "mystery miner" will mine it like mystery hashpower has been mining for BCH.
They have good control of important media channels. So they can curate the message. They've been successful here.
And what happens if there's an important Segwit security update from Core on, say, Nov. 18? Not that they would do that of course.
However I agree everyone can calm down: we already rescued Bitcoin.
Bitcoin Cash is the name of the coin that will be formed by the Bitcoin hard fork that will most likely happen on August 1 2017 12:20 GMT , according to the UAHF (User Assisted Hard Fork - a contingency plan to counter BIP148 which risks reorganizing the chain).
In simpler terms: Bitcoin will split, and a 'Bitcoin Cash' will spin off. Everyone who owns bitcoins before then will also own the same amount of 'cash' bitcoins on the fork chain.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
New SigHash Type - As part of the replay protection technology, Bitcoin Cash introduces a new way of signing transactions. This also brings additional benefits such as input value signing for improved hardware wallet security, and elimination of the quadratic hashing problem.
Please see our community roadmap here (bottom of page):
https://www.bitcoincash.org/roadmap.html
The current 32MB limit is temporary. There is a lot of work needing to be done to make the network as efficient as it can be, to provide a foundation to massive on-chain scaling. A lot has already been accomplished, including work started on our eventual "adaptive" size limit mechanism. By the time BCH fills up 32MB (or 64MB or 128MB blocks, something we may include in an upcoming hard fork) hopefully we'll be a lot further down the road with technical progress and have an adaptive unlimited size ready to go.
>im trying to prove to someone that this is the plan
That's actually NOT the plan. Only increasing the block size limit when "necessary" is the dominant plan in the Bitcoin Core (BTC) camp. The problem with their plan is twofold. First, "necessary" is subjective. The BTC chain experienced a record $50 fees for transactions in 2017. The block size wasn't increased. So what would constitute necessary, $1M fees? The second problem is waiting until the community grows 1,000X in size makes it far harder if not impossible to proceed with plans made when the community was small. That has been proven (since we couldn't even raise BTC block size to 2MB).
In contrast, the Bitcoin Cash community is doing all we can to keep the network in line with the original Bitcoin white paper, which has no limit. The approach we're taking is increasing block size as high as we can safely go at any time, whether blocks are full or not, and reach the point where we institute an "adaptive" block size (controlled by miners) with no maximum limit. We've already increased from 1MB to 8MB to 32MB which shows we're quite serious. The community roadmap is here:
Based on your browser language setting, it will automatically adapt. Enjoy!
-
A warm thank you to /u/zquestz and to the language contributors :)... If you would like to contribute with other languages, please follow the instructions of the tutorial.
https://docs.google.com/document/d/1IlXRafx5tOBKYQHeSFmK_4Pb3faxNrQi0Rrfa4MGLjw/edit
There has been some hostile corporate takeover from Blockstream Inc. to centralize Bitcoin. For that they got an immense amount of money from AXA and other big financial players. They own Core (centralized development team), r\/bitcoin and bitcointalk. So what you did is considered blasphemy.
There are some disillusioned people that hope that that second hostile corporate takeover that is right now in the happening could fix that situation.
Everyone that really cares about Bitcoin has switched to Bitcoin cash https://www.bitcoincash.org/ https://cashvscore.com/
With Bitcoin cash everyone is still sort of early adopter, but that will definitely change in the next few months as basically all Bitcoin infrastructure either adds or switches completely to Bitcoin cash.
It's called Bitcoin Cash or BCC abbreviated. Why is this important? BCC is the recommended ticker symbol on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
Most people are going to consider you a troll if you call it bcash, you can call it bitcoin cash or just bch for short to be taken more seriously.
btc and ltc have the same problems, ltc just lacks the same volume. Until the block size is raised in them, they just cease to function past a certain volume which bch far exceeds.
One of (multiple implementations) the roadmaps is here: https://www.bitcoincash.org/roadmap.html
Not in there is the recently added Cash Shuffle for enhanced privacy which can be found in the electron cash wallet. Not specified in the roadmap is Avalanche. Feel free to search the sub for anything you have further to ask. Most questions you can come up with (including this one) have been asked and answered many times.
There's really no good reason not to buy and hold some Bitcoin Cash.
But it's even better to buy and spend some.
It's alright - Litecoin has Segwit and (soon) Lightning network.
Let this compete against Bitcoin (Cash)
p.s. bcash is not yet released, don't confuse it with Bitcoin Cash!
In response to Bitcoin Cash, the 1MB4EVA / "evil Chinese miners" crowd is going to throw up a LOT of forks in order to confuse people and strengthen the "there is only one true Bitcoin and that's Core" narrative. Opportunists will jump on and assist them.
The first angle they will push is that these are all just "free money", or "dividends" for Bitcoin holders.
They want to encourage people not to look at the fundamentals of what makes Bitcoin tick, but rally behind the name and the "BTC" ticker.
This is a classic political tactic of deflection - please don't examine our policies and actions in detail, otherwise you might vote for someone else.
Unfortunately, it is highly dangerous and effective because most people just follow blindly and don't question much.
If you're in this subreddit, I hope you already question more.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
Bitcoin Cash scaling with huge blocks is completely feasible.
30GB blocks require a 3GB/minute download speed
My internet speed (base tier Comcast): 90megabits/second = .6 GB/minute = 6 GB Blocks = 42,000 transactions per second!
That's more than 20 million transactions per block!
Current fiber internet speeds in USA: 1Gigabit/second = 7.5 GB/minute (fast enough for world adoption x2)
BCH has already been tested at massive scale to tens of thousands of transactions per second on the testnet.
The only thing needed is to solve bottlenecks in software as the transactions increase. Improvements like allowing for multicore processing have already been successful on BCH.
If the Bitcoin Cash (BCH) network processed the same number of transactions as BTC today, Bitcoin Cash fees would still be extremely low (less than a cent for a typical transaction).
The Bitcoin Cash network can process significantly more transactions than the BTC network.
High fees on the BTC network are caused by its limited transaction capacity. BTC's limited capacity causes a fee war between people attempting to use the system.
The Bitcoin Cash network already has an order of magnitude greater transaction capacity than the BTC network. In addition, the Bitcoin Cash roadmap includes an adaptive block size limit. The idea is to keep network transaction capacity above actual usage so that fees remain low.
Bitcoin Cash miners will be rewarded for securing the network through a large number of low fee transactions. The roadmap aims for 50 transactions per day for 10 billion people.
For more details on comparing fees, see this article:
https://honest.cash/HenryCashlitt/comparing-fees-lost-purchasing-power-matters-4673/
Don't wait for consensus. Just create files in various formats and put them out there. If people like it it will get used.
Maybe you can do a variant with the square box around the logo like seen on bitcoincash.org.
This is a hard fork that'll create a new coin called Bitcoin Cash on August 1st created by Via BTC.
It's not a contentious fork as there's no attempt to pretend it's Bitcoin. It'll have 8mb blocks - https://www.bitcoincash.org/
As it's a fork of BTC the people who have private keys on the existing Bitcoin blockchain at the time of the fork will also have their coins mirrored on this coin's blockchain.
Coinbase is saying they're not going to supply people who have BTC on their service with this coin.
If you want it you need to control your own private keys.
One interesting fact is that in the early days of Bitcoin, faucets used to exist where people could get a small amount of coin to experiment with.
This is no longer possible on BTC, but is again possible on Bitcoin Cash.
This is great because one of the best ways show people what it's about is for them to obtain Bitcoin Cash themselves and use it.
"Try before you buy" - we do it in real life, we also need to do it with crypto.
Since it costs nearly nothing to transfer peer-to-peer (like Bitcoin should), it is very simple to pass a few cents or a buck to someone to show them how it works.
For a list of freely available wallets, they can have a look at https://www.bitcoincash.org/wallets.html . Most good wallets also support Bitcoin Cash already.
u/chaintip here is some for you to try it out yourself in case you haven't yet.
Bigger blocks is the primary reason. Bitcoin Cash's 32 MB blocks can hold approximately 32 times as many transactions as BTC's 1 MB blocks. It's only approximate because BTC has segregated witness, which could squeeze about 1.7 times as many transactions into a block, if it was to become widely used. It was added almost two years ago, but has seen limited adoption. Bitcoin Cash recently added Schnorr signatures, which make the transactions slightly smaller, but those have not yet become widely used, either.
BTC's long-term plan is to move most transactions off-chain using the Lightning Network (LN). Unfortunately, Lightning Network isn't working yet, and many critics say that it can never scale to handle the volumes of transactions required for a global currency. There are also some legal issues, since the U.S. government is now saying that all nodes in the Lightning Network will need to have a "money transmitter's" license, and would have to adhere to KYC and AML regulations. This will probably lead to massive centralization, something most crypto advocates wish to avoid.
Bitcoin Cash's long-term roadmap ( https://www.bitcoincash.org/roadmap.html) is to eventually scale to be able to handle 50 transactions per day for each of 10 billion human beings. The software has an upgrade every 6 months, and it is steadily making progress to be able to handle that kind of scale.
The BTC developers say that high fees are good, because they will force users to use segregated witness and the Lightning Network. They openly celebrate high fees.
The Bitcoin Cash developers are hoping to stay far enough ahead of the usage curve that Bitcoin Cash will always be faster, cheaper, and more reliable than credit cards and other traditional methods of money transfer.
> Truth is, 99% of people dont give a FUCK about what some line in a 2009 whitepaper said.
Don't be mad at me... That's how things are. Meanwhile, check out our growing community on https://www.bitcoincash.org ✌️
Have a good day 🙂
Fair warning: ABC is not a drop-in replacement client for Core. If you run Bitcoin ABC, you'll end up on a different blockchain, with lower fees and more capacity. Are you sure this is what you want? /s
Inform yourself thoroughly first - if you are already running a node, you should definitely back up your wallet (and blockchain data, if you might consider switching back) before installing ABC. Your node will also need to download the Bitcoin Cash blockchain data. Ask in /r/bitcoinabc or /r/bitcoincash if you're unsure.
From the roadmap: https://www.bitcoincash.org/roadmap.html
Adaptive Block Size (market driven growth to 1TB blocks)
MANKIND SCALE 50 transactions / day for 10 billion humans
Fee Improvements (cheaper transactions)
Fractional Satoshis (fees low forever)
No Bitcoin Cash had many implementations. at least 5 https://www.bitcoincash.org/
The bitcoin Core network is Bitcoin Core. Literally, they are the only implementation of bitcoin to insist on keeping the 1MB limit regardless of what 83% of the industry says.
Woosh, you totally missed the joke. Read the paper, anyone can call themselves CEO of Bitcoin cash. He's making the point that we all have the same say:
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
banks don't asks their users if they want to call it US Dollar or Fancy Beanies, they call it US Dollar because that's the right name !
what name do you read here ? https://www.bitcoincash.org/
are you dense or what !??!
It's called Bitcoin Cash or BCC abbreviated. Why is this important?. BCC is the recommended ticker symbol on the official website and used by all 4 current client implementations.
Fun interview! Roger really did a poor job of 'trashtalking BTC less' tho lol
Also roger droped the ball on the BCH vs LTC question, the most important difference is that Bitcoin Cash has a large and active devcommunity and a unique roadmap https://www.bitcoincash.org/roadmap.html The BCH community is really focused on adoption and usecases. There are quite a lot of interesting projects only happening on Bitcoin Cash like SLP tokens, cashshuffle etc.
LTC follows the BTC ofchain scaling with LN roadmap and has nearly no (protocol) development but is one of the 'party approved alts' from the BTC community.
If you look at the full statistics page you see this:
> Nodes with active channels: 4274
That means that half of all LN node count is in no way able to make or transact on the network.
I'd also like to add that I have 2 SPV wallets which are not counted in the overall node count. I also have a full node that I only run part of the time so it may or may not be counted at any given moment.
Here's the key take-away:
You need to run a full node + LN with channels to transact on LN (at least in a non-custodial way.)
You don't need to run a full node to transact on the base layer or BCH.
Now let's talk about actual "usage" because node count and usage are, at best, loosely correlated.
The 4274 LN nodes with channels are more or less a ceiling on possible LN economic activity. The reason I say more or less is because custodial solutions could increase that number.
The 1501 BCH nodes are more or less a floor to the economic activity. SPV wallets are closer to the norm from what I've seen.
Because of that, the node count is a poor analog for usage.
I could go into transactions and USD sent, but LN makes it difficult to follow any similar statistic.
The best I have then is this:
The closest listed place to me that accepts BCH is miles away.
The closest listed place to me that accepts LN is just over 100 miles away.
If you want a more accurate analog for present-day usage between the 2, the location map density is much better.
And that doesn't include the new flexa locations as I consider gift card buying to be cheating / anterior to the point of crypto.
I'm not going to sit here and say that BCH has already made it... It has a long ways to go.
At the same time, every indication I've seen is that it's far more widely accepted than LN.
I can't see the basis for failure of BCH. The wallets, services, projects and exchanges listed here are a solid foundation in the first 10 months. Its the most successful Bitcoin spin-off by far. Its the one with the greatest potential for growth.
Looking at his history:
[–]codestaxx 1 point 6 days ago I have 3 domains up for auction that all BCH and BTC fanboi's may want to pay attention to. You may recognize 2 of them as identical to 2 of the nodes for BCH at https://www.bitcoincash.org/#nodes that point to... https://www.bitcoinunlimited.info/ https://www.bitcoinabc.org/ Up for auction before things troll along or get nefarious... 1. www.bitcoincashabc.com 2. www.bitcoincashunlimited.com 3. www.bitcoincashnetworks.com Contact me at if you want to protect or troll BCH. permalinksavecontextfull comments (561)give gold
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
I realize your third paragraph contains the real attack/story you are supposed to tell. Perhaps re-read the white paper (especially the TITLE, abstract, introduction, and conclusion) and ask yourself: which of BTC or BCH better fits the description for how Bitcoin was designed to function?
edit: For anyone interested you can find the Bitcoin white paper at https://www.bitcoincash.org/bitcoin.pdf
There's a lot of FUD here about Bitcoin Cash. Bitcoin Cash is a fork of Bitcoin that does not include SegWit, upped the maximum blocksize cap to 8MB, implemented a new difficulty adjustment algorithm, and removed Replace-By-Fee. It forked from Bitcoin on 8/1/2017, so everyone who had Bitcoin on that date have the same amount of Bitcoin Cash (unless they have moved/sold it).
Bitcoin Cash was created in order to resolve the scaling problems that Bitcoin is suffering from now, as evidenced by the escalating transaction fees. In general, Bitcoin Cash favors on-chain scaling with optional off-chain scaling solutions whereas Bitcoin favors off-chain solutions and no on-chain scaling. You can read more about Bitcoin Cash here: https://www.bitcoincash.org/
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC abbreviated. Why is this important? BCC is the recommended ticker symbol on the official website and used by all 4 current client implementations.
I have no idea on the exchanges, but according to the bcash site they say -
>This means that the last common block will be approximately the 6th block with a timestamp after 12:20pm. The block after that will be different on either chain.
Which is 5:20AM PST or 8:20AM EST, but ti will be "approx" the 6th block after 12:20. So once it hits 12:20 UTC then the next block is #1, and we have to wait 6 blocks. Then the 7th block should technically be the first split block, assuming its over 1mb so that legacy nodes ignore it.
And we must also consider the fact that maybe 5% of the hashrate will be mining this chain, so its likely that it could take them 20x longer to find that block. So that would be 200 min. Thats if they dont have any luck and find it early our sour luck and find it late.
So, since we do frequently find blocks within 1 minute, it could be as quickly as 20 minutes or if they are unlucky 400min, which is 6 hours ...or even possibly longer.
So 5:20AM PST + 6 blocks should be approx 6:20AM assuming 10 min blocks, which means the 7th block could hit approx around 6:40am or as late as 12:40PM in the afternoon if the 5% of hashrate has shit luck.
From the bitcointalk thread they also said they would adjust the difficulty down by 20% if more than 12H has passed since the 6th block MTP (so I guess around 6:20PM PST if there hasnt been a BCH block the difficulty will drop 20%?)
And if they dont construct that 7th block right by stuffing it with txs over 1mb then we might have to wait even longer.
But, to try to answer your question.....Uhm....sometime after all that :P So if exchanges are super on top of it, maybe within the hour? If not, then a few hours? Totally guessing of course.
I could be wrong on my assumptions here but I think thats how it could play out? Please correct me if im wrong =)
There is going to be a fork of bitcoin called bitcoin cash that will raise the blocksize to 8MB and will not activate segwit.
If you own bitcoin (in your own wallet, not an exchange), you will own both BTC and BCC.
More info here.
The probability is approximately 13.21112%. I calculated it on my own calculator device using Section 11 of the whitepaper (p=0.70, q=0.30, z=6).
But before you panic, in practice it does imply that the two largest mining pools in the world are colluding to both destroy their own businesses and the economic value of the double-spend transactions. While they could hide their attack by withholding the blocks until they are successful, each failed attempt additionally foregoes a large opportunity cost, namely the mining income if they instead spent their electricity and equipment on normal mining.
It's what a lot of people have been saying for the last couple of years, points to MasterCard for being honest.
obvious if you think about it.
and for everything else there is Bitcoin Cash
disappointing that MasterCard funded DCG who tricked miners into activating Segwit
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
Because Bitcoin Cash is as decentralized as any other crypto out there (maybe the most one).
Anyway, "Decentralization" is the subjective word. You have to be specific. There are many criteria of decentralization. To become a peer-to-peer cash system, there will be some trade off along the way. The BCH roadmap is clear that BCH can get there and still be decentralized
> Sure, [bigger block sizes] means faster transactions and cheaper fees
Not faster transactions, but yes cheaper fees.
>but it also means that full nodes will be harder to run
No it doesn't. Optimizations to equalize initial sync time with a growing blockchain are being made now. i.e. BCHD with fast sync. Moore's law so far is consistent, thus bandwidth and storage is becoming faster and cheaper.
Also, every blockchain will grow forever, although some faster than others, and pruning is always an option to eliminate unneeded blockchain bloat you don't wish to carry around.
>Does bcash have any other solutions like segwit or mimblewimble going for it
Solutions to what problem? What problem does SegWit and Mimblewimble solve that you mention them here?
>What is Bcash s roadmap?
Working on? They're already out in the wild. Ripple (XRP) is a bank-controlled, non-fixed-supply, corporate controlled scamcoin. Don't purchase it unless you want to actively fund a project that's trying to wrestle control from Bitcoin.
It's a bit of a shame really, cryptocurrencies are such an amazing invention, they're flexible enough to be an entirely new non-fiat, non-government controlled form of money, or a me-too PayPal 2.0. Slather on a website full of buzzwords (or just some blatant lying) and even people that have been following the space for years have a tough time parsing the innovative projects from the scams, hype and cash-grabs.
>I want to know one thing.
>
>If BCH ever made it as a global currency but did not increase in price, would you still be posting things like this? I’m just curious
u/JarAC77 I can't speak for OP but my company Satoshiware NQ are spearheading the Bitcoin Cash NQ movement. So we're putting our money where our mouth is.
Your question has an easy answer: yes. If the price of Bitcoin Cash stays at 800USD forevermore that makes no difference to what we are trying to achieve. That just means I have a reliable exchange rate at which to covert my AUD to BCH. SNQ doesn't see Bitcoin Cash as a form of investment or as a novel payment system. We see it as the first global currency that can provide economic freedom and bank the worlds unbanked. Surely that’s something you want to be a part of irrespective of price? We’re doing our part by expanding the network through driving community adoption and merchant acceptance in NQ.
This technology is too important, too crucial to the world for it only to be propagated on the premise of making a buck. Uncensorable money has far more philosophical and ethical upside to it than just a monetary return. If Bitcoin Cash (or your preferred crypto) never increased in price would you still use it? If the answer is no then IMO you've missed the point of peer-to-peer electronic cash. If the answer is yes, jump on our socials and give us some support!
They can't be too late because the name was still available. The Bitcoin Cash project was officially called Bitcoin Cash https://www.bitcoincash.org/ and Bcash was still available to use and now it has been taken by someone else.
Thanks me later for clearing your confusion :)
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
TL;DR the roadmap of Bitcoin Core has diverged from original plan described by Bitcoin's creator, Satoshi Nakamoto. It seems to be moving in very different direction, in terms of decentralization and security model.
Many people strongly like the original vision, which Bitcoin Cash wants to deliver on.
https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
I have 2 optional thoughts depending on the audience: For people who care about the future... The original Bitcoin (BTC) was infiltrated and corrupted by powerful forces that put a limit on it to stop it from becoming peer-to-peer electronic cash for the world's people.
The real Bitcoin community split off a coin called Bitcoin Cash (BCH). It is working on scaling in a complicated multi-faceted way. It can already do orders of magnitude more Transactions than BTC per second. The roadmap is here: https://www.bitcoincash.org/roadmap.html
The powerful forces behind the BTC corruption continue to prop it up and attack their only real competitor (BCH). BTC has lost it's fundamentals and will become a corporate/banker tool that will retain some value. BCH will become cash for the world and change everything.
For investor friends: The Bitcoin-(BTC) version. It is the most expensive and has serious code problems. The Bitcoin Cash (BCH) version of Bitcoin is working to be able to scale to achieve the original purpose of Bitcoin (peer-to-peer electronic cash for the world's people). BTC is not trying to do that and relies on an army of dishonest mostly fake accounts on social media to trick new people into thinking it is still a good investment. BCH is the best Bitcoin at this time. It is also a great deal today.
From the BitcoinCash.org FAQ:
> Didn't SegWit increase the block capacity? Will Bitcoin Cash ever have SegWit? > > Segregated Witness or "SegWit" is an unacceptable substitute for increasing the blocksize for several reasons. > > First, even if used in 100% of transactions, the increase would equate to 1.7MB blocks. Thus, it is a small capacity increase at best. It will not handle exponential growth or worldwide usage. Second, the soft fork implementation results in discardable signatures, which weakens Bitcoin's security model. Third, it makes future capacity increases more difficult due to bandwidth inefficiency and quadratic hashing attacks which SegWit doesn't solve since an attacker isn't forced to use it. > > For those (and other) reasons, Bitcoin Cash was necessary as a pre-SegWit fork. Segwit will not be adopted.
SegWit, and particularly how it is implemented on BTC, make no sense if you plan a big block future. Conceptually, it makes no sense to enable a 40% block size reduction by omitting signatures (fraction of an order of magnitude) if you simultaneously want to increase block size by many orders of magnitudes. Implementation-wise, it makes no sense to formulate it as a very complex soft fork if you're going to do hard forks anyway. As referred to in the third point, it makes no sense to do a one-time capacity increase that deteriorates the ability of all future capacity increases after that.
Bunch of good wallets at https://www.bitcoincash.org/#wallets , if you don't already have a wallet that supports BCH. You're spoiled for choice there.
You might want to get one that supports BIP70 or is at least planning to add support for it, since the major payment service Bitpay is requiring it at this point. If you're just looking to hold you can probably ignore that aspect for now.
As others have said, we're not expecting a "dividend" from the upcoming May network upgrade. Just more services popping up, making use of the network and some new features (re-enabled opcodes, bigger OP_RETURN space for data on the chain).
> How can a simulation prove something when we are dealing with an economic incentive system. That is asinine.
Simulations and mathematical models cannot prove certain characteristics of an economic system? For the first mathematical model of the bitcoin system, please see Section 11 of the whitepaper.
Sweetheart ... again, Bcash hasn't launched yet. But I think the guys behind Bcash have to change their name. There is a company out there that is called Bcash a well http://bcash.com.br
But coming back to your question Bitcoin Cash has the BCH. If you need more details check out the website https://www.bitcoincash.org
Source post (Lagarde's speech at BOE) on IMF site:
> For now, virtual currencies such as Bitcoin pose little or no challenge to the existing order of fiat currencies and central banks. Why? Because they are too volatile, too risky, too energy intensive, and because the underlying technologies are not yet scalable. Many are too opaque for regulators; and some have been hacked.
Bitcoin Cash is here to address the 'not yet scalable' issue :-D
BU, classic, XT and ABC are Bitcoin Cash. Bitcoin Cash is not a specific software implementation. Its general idea, that BU, Classic and XT implemented. Just have a look at https://www.bitcoincash.org/. There is no distiction between BU, classic, XT or ABC. All of them are treated as equals.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
Your app is probably confused about what you actually got because there's like 3 different things called BCC
- There are BitCoin Core tokens on Bitfinex and maybe some other exhanges? They were made some time ago for a chain split that never happened (unlimited). Those are worth about 1 BTC
- There's also BitConnect Coin, an altcoin worth about 0.2 BTC
- And now there's also BitCoin Cash, which is worth about 0.1 BTC now, probably less soon
>2. Bitcoin Cash (UAHF) https: //www.bitcoincash.org, otherwise known as ‘bitcoinabc', has received the clear support of certain miners and exchanges. Further, with its dynamically adjusted mining difficulty, it is very likely to exist. However, as it appears only a minority of miners will be backing this fork, it is likely to be a new digital asset that coexists with Bitcoin.
" it is likely to be a new digital asset that coexists with Bitcoin." sounds like they mean altcoin?
> The twitter account and the website try to trick noobs into thinking it's actually the real Bitcoin.
Where is the Bitcoin Cash site marketing trying to trick anyone?
You are correct.
"All Bitcoin holders as of block 478558 are also owners of Bitcoin Cash. All are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world." from bitcoincash.org
It makes sense because now people that want people-to-people electronic cash have their own currency and can push it forward without having to fight those who want to keep transactions slow, expensive and unreliable. Each community can follow its own ideals and grow how they want.
1) Bitcoin.com is not tied to a specific development group - it is a separate entity. The development teams are where you would download node software (i.e. BitcoinABC, etc).
2) Roger Ver is just a dude. He's allowed to endorse whatever he wants. You can safely ignore him and continue your life by choosing the BEST digital currency that suits YOUR needs, in addition to what you believe would suit the WORLD's needs the best!
3) Roger Ver has no more conflicts of interest than any of the Segwitcoin devs. Think about it for a second, the segwitcoin devs literally own a company, which has patents that rely on segwit and 1MB blocksize....
4) Bitcoin Cash development is DECENTRALIZED - there are different groups to look at (i.e. BitcoinABC, XT, Unlimited... https://www.bitcoincash.org/#nodes)
5) Yes of course, it wouldn't even put a dent in BCH.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC abbreviated. Why is this important? BCC is the recommended ticker symbol on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC abbreviated. Why is this important?. BCC is the recommended ticker symbol on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC abbreviated. Why is this important?. BCC is the recommended ticker symbol on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC abbreviated. Why is this important?. BCC is the recommended ticker symbol on the official website and used by all 4 current client implementations.
大雑把な解説
ビットコインは10分に１メガの帳簿しか作らないために、取引の遅れ、手数料の高騰（高い手数料払うと優先的に扱われる）が目立つようになった。メインストリームの開発者はSegWitという裏技を帳簿に導入することで、仕様を大きく変えずに帳簿のサイズを拡大する方法を提案して、先日それが決定した。それに対してイマイチ不満な層が「そもそも１メガというのがよくないし、裏技とかそういうことはやるべきじゃない。帳簿のサイズは８メガにすべき」といって独立を宣言したのがBitcoin Cash。
若干記述がBitcoin Cash寄りなのは、自分自身がSegWitのメリットが良く分かってないため。ライトニングネットワークとかするにはSegWitが必要なんだっけ？
Tokens representing bitcoincash (BCC) are currently trading on a single Chinese exchange, ViaBTC, at about 1/6 the price of bitcoin. I don't know whether that price will hold up, but it is trading high enough that if you own bitcoins you should not ignore it.
> this Bitcoin Cash going on which does not segwit. I don't understand what is going on?
https://www.bitcoincash.org/ is the same thing as UAHF. Which is supported by various clients, bitcoin-abc, bitcoin unlimited and bitcoin classic.
There is a strong intent to grow on-chain as much as technically feasible. There are currently some blockers that need to be worked around to safely start the growth process without fear for breaking things. You can find more information about those if you are interested.
From the roadmap:
> Adaptive Block Size > > (market driven growth to 1TB blocks)
Check out the whole roadmap: https://www.bitcoincash.org/roadmap.html
You didn't say where in SA, but there are resources here in Spanish and Portuguese: https://www.bitcoincash.org/es_419/ https://www.bitcoincash.org/pt-BR/
Also, BCH is #4 by market capitalization, and if you exclude XRP (you should) it's number 3. Its really a major portion of Bitcoiners who switched to BCH when it became clear BTC was not going to be fixed.
Globally, and actually more like 4 tps in real use. Bitcoin (BTC) blocks are currently limited to 1 MB of data. Average transaction data is ~400 bytes, so you can fit ~2500 transactions in a block. Blocks are generated every 10 minutes on average, so 4 tps.
The 1 MB limit was initially put in place as an anti-spam measure, back when BTC was new and blocks were small. They have been full for about a year now, with a significant backlog and higher fees as a result. The core developer team has stonewalled expanding blocks for their own financial benefit.
On 1 Aug 2017, people who were tired of the stonewalling forked the software to create Bitcoin Cash (BCH). This raised the soft limit to 8 MB per block, with a 32 MB hard limit in the current code. Testing is ongoing for up to 1 GB blocks.
Besides the versions of Bitcoin, other cryptocurrencies have picked up the slack as far as handling transactions. Ethereum has already passed BTC in transaction volume and several others are likely to in the next year. Bitcoin isn't the only game in town any more, though they have the largest mind-share.
From: https://www.bitcoincash.org/#wallets
Which Development Team is In Charge of Bitcoin Cash?
>Unlike the previous situation in Bitcoin, there is no one single development team for Bitcoin Cash. There are now multiple independent teams of developers.
- bitcoin.org lists bitcoin core in the Resources menu.
- https://bitcoin.org/en/download takes you to bitocin core.
- bitcoin.org is scattered with references to 'full node clients like Bitcoin Core'.
- https://bitcoin.org/en/posts/how-to-run-a-full-node refers to Bitcoin Core as the reference client.
- The bitcoin community is full of posts and examples which state the bitcoin core's consensus rules is what make's bitcoin bitcoin.
No. Read up toward the end of the Web page.
Which Development Team is In Charge of Bitcoin Cash?
Unlike the previous situation in Bitcoin, there is no one single development team for Bitcoin Cash. There are now multiple independent teams of developers.
This decentralization of development (and decentralization of software implementations) is a much needed and important step forward.
Their protocol immutability stance is bullshit from the go. Core has been on a mission to mutate the protocol from peer-to-peer Cash into digital banking settlement gold since the new regime came to power in 2013-2014.
Fortunately Bitcoin is actually immutable.
You can read up on why Bitcoin Cash was created here:
I don't really support 2x, but I also don't think Core devs can be "fired" in any meaningful way.
A certain amount of "re-decentralization" would be extremely good for Bitcoin, though.
Read up on why I think Core devs can't be fired, maybe it'll stop you from being so worried and contribute to less FUD around the issue.
https://www.reddit.com/r/btc/comments/74rkjs/bitcoin_core_developers_along_with_blockstream/do0mf5s/
Pay no attention to the /r/bitcoin trolls.
They mean Bitcoin Cash when they say that.
Talking about Bitcoin Cash is perfectly fine in this sub, but there's also /r/bitcoincash which can be used for it.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
It's called Bitcoin Cash or BCC/XBC abbreviated. Why is this important? BCC and XBC are the recommended ticker symbols on the official website and used by all 4 current client implementations.
If you look at the main webpage of Bitcoin Cash; https://www.bitcoincash.org/ it states clearly;
> We are pleased to announce that on August 1st 2017, Bitcoin Cash (BCC) successfully launched.
The usage of "BCC" has started quite some time ago and the people trying to use BCH are the ones causing no end of confusion. It is a typical divide and conquer tactic and we must fight it.
I have been told that there is a little coin that uses the name "BCC" and therefore its impossible for some exchanges to use it too. This is obviously bull as you can clearly see that none of the bigger exchanges actually trade this bitconnect coin, as such there is no confusion.
Lets be clear, the people that rename our coin from BCC to slang like BCH, or BCash or any other such names are doing it for one reason only, because it hurts Bitcoin Cash. It confuses people and it makes it harder for new users to understand what is going on.
Do not tolerate this renaming, it will only cause diversion and confusion.
Se ve que el chino va forkear su propia moneda el 1 de agosto. Le auguro mucho dolor.
Lo que me deja un tanto despistado es la relación existente entre "BitcoinCash" (BCC) y BitcoinABC (extraoficialmente: "AsicBoostCoin")
JihaD comienza a ser una caricatura de sí mismo. Qué ridículo.
Meanwhile, el único e irrepetible Bitcoin que todos queremos, con sus Layer2 llegando:
100% señalización en estas últimas 24 horas
Thanks for sharing your thoughts. That is indeed goal number one and I do not share your feeling about ABC and our intentions.
Pre-consensus is on the Bitcoin Cash roadmap: https://www.bitcoincash.org/roadmap.html
>Would BCH just keep increasing the block size?
Yes, the block size limit will be increased as large as it is technically possible to do so.
>If BCH has as many transactions as Visa/MasterCard would that not require a MASSIVE block?
Yes. On the roadmap is 1 terabyte blocks. You can see the roadmap here: