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Bitcoin Cash

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    #32
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    Yeah, I don't know what to make of it. I would be happy to use BCH for transactions, but would be extremely cautious of holding any.


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    #33
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    For any crypto to get to world wide scale it must be capable of handling 50 transactions per human per day! Thats roughly 50 billion transactions. Bitcoin cash while ahead managed just over 2 million, but what the stress test did prove is that it can scale.
    I think most Bitcoin hodlers are happy to use their Bitcoin cash for transactions. I don't see the issue with holding Bitcoin cash as it has over eight years of stress testing. The network is robust. Decentralization is really the only issue at the moment but as the competition from the DragonMint 16T miner is currently disrupting Bitmains position.

    I'd be more worried about hodling Bitcoin core as the Lightning network has yet to rear its ugly head. I'm not a fan, it's side chain second layer b.s. that's not on the open public blockchain ledger.


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    #34
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Shauny2010 wrote: »
    For any crypto to get to world wide scale it must be capable of handling 50 transactions per human per day! Thats roughly 50 billion transactions. Bitcoin cash while ahead managed just over 2 million, but what the stress test did prove is that it can scale.
    If BloXroute lives up to it's claims, then it can 1000x that (although that applies to all PoW chains).
    Shauny2010 wrote: »
    I'd be more worried about hodling Bitcoin core as the Lightning network has yet to rear its ugly head. I'm not a fan, it's side chain second layer b.s. that's not on the open public blockchain ledger.

    I'd have to qualify this by saying that at this point, I don't give a fiddlers which comes out on top. Every crypto seems to bring something to the party (albeit that they all seem to have trade offs and flaws also...at least as things stand). However, it seems that LN is making some progress. Also, is it so bad to use Layer 2 for micro-transactions? Even the centralisation side of things is being worked on...and in any event, no chain seems to be completely decentralised. What does it matter if the sandwich that you bought is not on the blockchain?


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    #35
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Just like the sensational claims of 99% of the sh1t3coins claim to do 1000X more!

    I give a fiddlers as I am invested.


    Bitcoin has been hijacked by Blockstream. Lightning network is nothing more than a Visa like system run by Blockstream on a so called second level chain. Might as well stick with Visa or Mastercard as they have a proven system in place already.
    Bitcoin should be a public open blockchain ledger so all transactions matter!
    I'm not a fan boy of Rodger, but I have no dislike for him and he is a great for Bitcoin Cash. It's seams to be a theme amounst a lot of newbies that it must be hip to dislike or hate Rodger, but in reality he has done a massive amount for Bitcoin (and cryptos in general). He has been involved since the early days and has a lot of respect.


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    #36
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Shauny2010 wrote: »
    Just like the sensational claims of 99% of the sh1t3coins claim to do 1000X more!
    Ok, well what they propose would stand to benefit BCH. You've looked at it and you don't believe it will work?
    Shauny2010 wrote: »
    I give a fiddlers as I am invested.
    Sure - well, you have no choice then but to try and figure out who takes the lead with this..
    Shauny2010 wrote: »
    Lightning network is nothing more than a Visa like system run by Blockstream on a so called second level chain.
    Do blockstream have a monopoly on LN? I thought they had one service called Liquid that they're developing? Are fees going to be the same as visa? It is a layer 2 solution so why 'so called' second level chain?
    Shauny2010 wrote: »
    Bitcoin should be a public open blockchain ledger so all transactions matter! I'm not a fan boy of Rodger, but I have no dislike for him and he is a great for Bitcoin Cash. It's seams to be a theme amounst a lot of newbies that it must be hip to dislike or hate Rodger, but in reality he has done a massive amount for Bitcoin (and cryptos in general). He has been involved since the early days and has a lot of respect.

    I don't have any issue per se with Roger Ver. I would have started out thinking that BCH would fail - and I thought that there was logic in not making block sizes bigger - although my objection to bigger block sizes has been swapped out with the concern that the bigger they get, the more likelihood of there being orphaned blocks/chains.

    I'm not necessarily coming down one way or the other...hell, if I can figure it out, who knows, I might join you in speculating.

    There is a danger though that people generally don't give a fiddlers about the nature of layer 2 solutions (they wont care what happens at the back end). Every separate crypto 'community' tends to get very partisan and one thing with BCH people is the speed at which they dismiss layer 2. Perhaps they're right...but I cant buy in to that just yet based on the info I've come across...


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    #37
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Blockstream have taken over and are controlling Bitcoin development.
    It is a mistake to call LN a 2nd layer, in reality its layer 0, it runs on the same layer as Bitcoin and is parasitic, sucking fees out of the system.


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    #38
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Shauny2010 wrote: »
    Blockstream have taken over and are controlling Bitcoin development.
    Agreed...and I agree that their motives may be far from wholesome.
    Shauny2010 wrote: »
    It is a mistake to call LN a 2nd layer, in reality its layer 0, it runs on the same layer as Bitcoin and is parasitic, sucking fees out of the system.
    Ok, but Blockstream don't have a monopoly on LN, right? Will fees be more than visa?


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    #39
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Hmmm idk to be honest, if they get patents then they can charge what they like. Can't really see the comparison to Visa fees as they are just a payment system. Blockstream want to use these side chains for every use case that they can think of. And every use case will mean more fees, but instead of fees going to the miners they will go to Blockstream.
    It's in their interest to stunt Bitcoin development.
    Bitcoin cash is still open to the community, its moving forward, look at how many significant upgrades to the system have been made.


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    #40
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    bitmain files for IPO

    Bitmain looking very healthy with over $700 million in profit during 2017.


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    #41
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Shauny2010 wrote: »
    Bitmain looking very healthy with over $700 million in profit during 2017.

    Worth reading into it a bit further...


    - $1 Billion of inventory that they can't sell
    - They've presented figures for H1 2018 rather than Q1 and Q2 ....which many people find a bit cynical as it would show the drop off in earnings.
    - New chip out but concerns that they're not as red hot in the chip design business as they were ie. the competition is catching up.


    Cracking profits for 2017 but it's just a question of whether they can sustain that business model as they go along.

    As regards how that pans out with regard to Bitcoin Cash, I don't think there was any confirmation of precisely how much BCH they're holding?

    I'm also confused as to how this IPO application (and the info in it) should lead to a jump in the BCH price???:confused:


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    #42
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    $1 billion inventory it can't sell? I don't know what that's about, they have Bitcoin cash and Bitcoin along with a heap of dollars.
    Profits are mainly from it Hardware sales, and while it has slipped into second position for the best bitcoin mining hardware it holds the patent for asicboost which the rivals use and must pay for.
    New hardware due at the year end. With significant performance and efficiency boost.

    Bitcoin cash jumped in price as when they revealed there books to the public it showed that they are far far from a distressed seller of assets. Bitmain is shown to be healthy it shows that it can continue to support Bitcoin cash network, which includes the use of the bitcoin cash blockchain for derivatives.


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    #43
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Shauny2010 wrote: »
    $1 billion inventory it can't sell? I don't know what that's about

    It's acknowledged in their IPO Prospectus. They misjudged the market and they have $1 Billion worth of hardware in stock. With that, margins are squeezed and not what they once were in an effort to shift that stock and also due to increased competition. Also, they may have to write down that $1 billion according to a report that came out last month.

    Shauny2010 wrote: »
    Bitcoin cash jumped in price as when they revealed there books to the public it showed that they are far far from a distressed seller of assets.

    I'd say it's neutral - no more than that ...and we still didn't get official confirmation of just how much BCH they're holding.


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    #44
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    I think they hold around 1 million Bitcoin cash, but I'm not 100% on that


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    #45
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Bitcoin cash hard fork going ahead on or around the 15th of November.
    Currently price has started to surge, its up over 30% in the last few days.
    Coinbase and Binance will both support the hardfork so if you have BCH on the exchanges you will get the new coins also
    As usual in the crypto world, the sum of the parts will be greater than the whole.


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    #46
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    Dump on 16th?


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    #47
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Kenny Logins wrote: »
    Dump on 16th?
    Hard to tell how to trade this one as the fall in Bitcoin cash was originally down to the split/arguing between the two camps.
    If I was going to trade it I would be looking at selling at just over 0.1 to 0.13btc and at a few days before the fork. Currently its at 0.087btc


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    #48
    VoidMain
    Registered Users Posts: 3 ✭VoidMain


    Outside of the pump for free coins from Craig Wright’s fork. The Interesting part of the fork is CTOR (Canonical Transaction Ordering) and Graphene. This will see a 7X speed increase.
    It's good that its happening now as the cost of doing so in the future would be too high. It's not something that Bitcoin can do now


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    #49
    dozy doctor
    Registered Users Posts: 751 ✭✭✭dozy doctor


    Shauny2010 wrote:
    Hard to tell how to trade this one as the fall in Bitcoin cash was originally down to the split/arguing between the two camps.

    What do you think will happen with regards the hard fork.... Will both new coins be with anything do you think, or will one take all and is it worth holding Bitcoin Cash before the hard fork


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    #50
    torrevieja
    Registered Users Posts: 1,658 ✭✭✭torrevieja


    Is this Digital Bitcoin on facebook were u lodge a miniumn of $250 is this a Pyramid Scam?


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    #51
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    torrevieja wrote: »
    Is this Digital Bitcoin on facebook were u lodge a miniumn of $250 is this a Pyramid Scam?

    Lodge it to where and to what end? Chances are the answers to those questions should let you know it's a scam, in which case - yes it's a scam. Report it to FB, I couldn't find what you're talking about to do it myself.

    There is no well-defined "minimum lodgement" for Bitcoin. Not for now anyway. Once fees rocket back up there'll be an exorbitant transaction fee for interacting with the chain. If that's a fee somebody's willing to pay then so be it, it'll be their choice.


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    #52
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Pushing on again today, now up to 0.094btc.
    Bitcoin cash is now pulling the whole crypto market upwards


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    #53
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    Shauny2010 wrote: »
    Pushing on again today, now up to 0.094btc.
    Bitcoin cash is now pulling the whole crypto market upwards

    Yep that's some gain from the low on Sunday! I wonder will it dump again before the fork or keep going?


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    #54
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    Epic battle going on at the moment. The question is which side will run out of money first? - CSW I'm sure is happy to burn all of Calvin Ayre's millions just to beat Ver and Jihan in a hashwar, but Ver has switched all bitcoin.com pool miners over to BCH and is subsidising the shortfall from mining BTC. Crazy stuff. Do I have this right, is this what's really happening right now??


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    #55
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    Will the price crash more or is it worth sticking a few bob in?


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    #56
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    Truckermal wrote: »
    Will the price crash more or is it worth sticking a few bob in?

    On BAB or BSV? :pac:


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    #57
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    Kenny Logins wrote: »
    On BAB or BSV? :pac:

    Ha ha no BCH Jesus im confused with all this...


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    #58
    Kenny Logins
    Registered Users Posts: 9,061 ✭✭✭Kenny Logins


    Truckermal wrote: »
    Ha ha no BCH Jesus im confused with all this...

    Some exchanges are listing two separate versions of Bitcoin Cash.
    All the mining going on now (at a loss) will have to be paid for, so I can only see the price going lower and probably BTC too.


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    #59
    NaiveMind5
    Registered Users Posts: 4 ✭NaiveMind5


    Anyone buying BCH at these levels? Seems like blood has really been spilt. Bitmain still holding huge amounts of Bitcoin Cash, we will see an exit pump at the very least. Good risk reward for a swing trade IMO


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