Post: #26

I was the only one on the forum that accurately predicted the price of BCH way back when it came out. Everyone laughed at the prospect of BCH becoming a thing calling it a scam and "bcash". Well, here we are, its over 3k and challenging bitcoin for the mantle.

How did I know BCH would become a real thing and not fade into obscurity? Mostly listening in on the rumour mill. The word on the street was that the big stake holders for bitcoin like Roger ver, McAfee, Jihan Wu and various others that own 100's of millions in mining equipment and infrastructure, the big blockers, were not happy with the way the core developers stifling innovation for bitcoin and not changing the block size. They were vocal about it and they can be seen voicing their disapproval in documentaries and in articles. Miners traditionally have had the last word on bitcoin so I figured they would get their way, and it looks like they have.

Now we have institutional investors (smart money) interested in BCH. They think it has room of moving up to parity with bitcoin and even surpassing its market capitalisation. They had stated this in videos on YouTube with Roger ver. Their plan is to put their profits from bitcoin into BCH and this is what has been happening.

Because BCH has an difficulty adjustment algorithm that will always make it easier and more profitable to mine it will always exist in some form. It will simply never go away. First they ignored it, then they made fun of it, now they are clashing and it looks like BCH is winning.

My concern is about what happens to the cryptomarket when BCH hits parity with BTC or surpasses it. Will normies be disillusioned and stop throwing money in? Will people sue and bankrupt exchanges for withholding their precious bitcoin cash now worth tens of thousands? Another crypto winter can be triggered by this and it gives me some worry.

Post: #27

Easier and more profitable to mine?
How does that make sense?
Its just a free market of hardware / electricity.

Post: #28

(12-21-2017 01:04 AM)pants Wrote:  Easier and more profitable to mine?
How does that make sense?
Its just a free market of hardware / electricity.

Look into the emergency difficulty adjustment BCH has. It can automatically adjust the difficulty of mining to make it more profitable to mine. Profitability is a function of price and difficulty of mining. BCH is able to change the latter.

Post: #29

Ignore burneremail82, guy shills for everything just so he can point in a few months and say l told you so, his advice is worth nothing.

Post: #30

(12-21-2017 03:48 AM)Steve McQueen Wrote:  Ignore burneremail82, guy shills for everything just so he can point in a few months and say l told you so, his advice is worth nothing.

Well he was right about a lot of things. He gets his information from sources in the know. When burner says something, I listen. I might not agree with or act on it, but I still listen.

Post: #31

(12-21-2017 03:48 AM)Steve McQueen Wrote:  Ignore burneremail82, guy shills for everything just so he can point in a few months and say l told you so, his advice is worth nothing.

Disagree.

Feel free to offer actual criticism of the points being made, this adds absolutely nothing to the discussion.

Additionally for the record, I think burner's also gonna be spot on about his predictions for LINK in 2018.

Post: #32

Full disclosure, I don't own any BCH anymore. I'm not saying I want bitcoin to get rekt as that could be a bad thing for all of us still trying to make it in this market in the short term. I'm just acknowledging BCH is a real thing that isn't going away.

If LINK is still under $1 by December 2018 I'll know I was wrong big time. There were 3 three cryptocurrencies that I have believed in (BCH, OMG, LINK) of which only LINK has not mooned yet. BCH mooned from $200 to $3300, OMG from $0.24 to over $18. I imagine if the crypto market still isn't in ashes by end of 2018 this will do well.

The reason BCH isn't a scam isn't so much just the better tech and fees but big baller money backing it. Both the big miners and institutional investors will use their millions to market and promote BCH. When BCH becomes an established fiat gateway on many exchanges it will be difficult for the average person to tell the difference between it and BTC.

Post: #33

Offtopic perhaps, but if link is only pushing $1 by dec 2018 that would be disappointing.

Post: #34

(12-21-2017 01:04 AM)pants Wrote:  Easier and more profitable to mine?
How does that make sense?
Its just a free market of hardware / electricity.

With the majority of future BTC transactions moving to the Lightning Network this cuts miners out from potential profits, thus they are incentivised to move to BCH to stop this from happening.

Post: #35

(12-21-2017 09:07 AM)Valentine Wrote:  

(12-21-2017 01:04 AM)pants Wrote:  Easier and more profitable to mine?
How does that make sense?
Its just a free market of hardware / electricity.

With the majority of future BTC transactions moving to the Lightning Network this cuts miners out from potential profits, thus they are incentivised to move to BCH to stop this from happening.

But what exactly is the timeline for the transition to Lightning Network (LN)? It may be too late for btc by the time LN is implemented

Post: #36

Probably yes. I've seen estimates from 18 months to 5 years for LN to get deployed, and in the meantime it's unusable as currency which is why lots of capital is moving to other cryptocurrencies.

Post: #37

Thing is they're all just as unusable.
Any coin reaching the same market cap that bitcoin has right now will also become just as unusable and need lightning.
Unless tech improves (moore's law, other scaling solutions)... but THAT would also benefit BTC and BCH so...

Post: #38

Not at all. Why BCH scales better than BTC has already been discussed on the forum in multiple threads, Proof of Stake is being used in many coins and Directed Acyclic Graph-based cryptocurrencies look very promising also.

Lightning Network is not the only scaling solution.

Post: #39

(12-21-2017 09:07 AM)Valentine Wrote:  

(12-21-2017 01:04 AM)pants Wrote:  Easier and more profitable to mine?
How does that make sense?
Its just a free market of hardware / electricity.

With the majority of future BTC transactions moving to the Lightning Network this cuts miners out from potential profits, thus they are incentivised to move to BCH to stop this from happening.

This is more in line with an answer i was expecting.
But why would the market want to pay for it ?

I see electricity / hardware costs / transaction cost as friction in a payment system. Whatever system has the least amount of friction will win long term.


Difficulty adjustment has nothing to do with it.
If it BCH is easier to mine, more miner will move over, and the difficulty will readjust. thats just market fundamentals..

Post: #40

(12-21-2017 05:16 AM)[email protected] Wrote:  The reason BCH isn't a scam isn't so much just the better tech and fees but big baller money backing it. Both the big miners and institutional investors will use their millions to market and promote BCH. When BCH becomes an established fiat gateway on many exchanges it will be difficult for the average person to tell the difference between it and BTC.

My research a while back showed the same thing. It's not about the name as much as it is about the best transactor, and the lightning network (as far as I understand) is inferior to BCH's

I'll wait for this drop (it'll continue) and then consider getting in, especially now that bitpay has allowed bcash

Post: #41

(12-21-2017 02:21 PM)Kid Twist Wrote:  

(12-21-2017 05:16 AM)[email protected] Wrote:  The reason BCH isn't a scam isn't so much just the better tech and fees but big baller money backing it. Both the big miners and institutional investors will use their millions to market and promote BCH. When BCH becomes an established fiat gateway on many exchanges it will be difficult for the average person to tell the difference between it and BTC.

My research a while back showed the same thing. It's not about the name as much as it is about the best transactor, and the lightning network (as far as I understand) is inferior to BCH's

I'll wait for this drop (it'll continue) and then consider getting in, especially now that bitpay has allowed bcash

Better tech... Do you even understand Lightning Network? Bcash simply changed the blocksize from 1MB to 8MB to scale. That's it.

I mean, sure, go for Bcash if you want, but, jesus...

Post: #42

I doubt btc moves to lightning network as soon as it needs to. Bitcoin can't handle anywhere near the volume of current transactions. Fees are utterly insane. It is only "useful" for investors as it stands, using it as currency right now is foolish. And it is supposed to be a currency, that's kind of the basis for it's existence.

Post: #43

   

Post: #44

^^ Get him on the Kingmaker podcast!

Post: #45

Is anyone here getting dirty BCH, or are all y'all going to exhanges to get in. The IRS declaration with these sites is what bothers me, sorta defeats the purpose of having the cryptos.

Post: #46

Roger Ver was just on CNBC selling BCH hard with a large "BITCOIN JESUS" title underneath on the screen. This kind of media marketing should not be dismissed given the market is being driven by retail level investors/buyers.

Post: #47

Truth is no one knows what's going to happen, and that's partly what's driving the mania. It would be a big ask for BCH to supplant or truly rival BTC for market dominance, but again, nobody knows. Perhaps even in, say, 3 years, when this whole Crypto thing has unfolded further, we still might at best have opinions but no definitive answers. New coins might even spring up and go higher than some of the more well established altcoins.

I like the simple idea of increasing block size to massively reduce fees, because the BTC core fees I'm hearing about like $20 are absolutely ridiculous. If it stays like that BTC would be regarded as a kind of commodity/asset rather than money apart from when sending large amounts. In its current $20 fee state it couldn't be used as a currency. On the BCH side I don't like the apparent lack of much else behind it other than what strike me as somewhat shady characters like Jihan Wu and Ver, even going so far as to take over the bitcoin.com domain name and potentially mislead a lot of newbies to what is not the official Bitcoin, but an altcoin, whether it eventually competes with BTC well in the future or not. There are downsides to both, which does make it hard to choose. So easiest is just to hedge. Percentage allocations are for each individual to decide.

Post: #48

(12-22-2017 04:46 PM)Jestx Wrote:  Roger Ver was just on CNBC selling BCH hard with a large "BITCOIN JESUS" title underneath on the screen. This kind of media marketing should not be dismissed given the market is being driven by retail level investors/buyers.

I'm not against Bitcoin Cash but I really can't stand Ver who seems to be a quasi spokesman for it. Ever since I saw this thread with him posting someone's personal info over a $50 ecommerce dispute I've never really cared much for the dude.

http://archive.is/jDdSY#selection-4925.34-4925.141


I probably lean more core, however scaling is a huge issue and it's frustrating to hear everyone throw out vague comments like "it will get better" without any real plans or timelines

Post: #49

(12-21-2017 02:58 PM)Maciano Wrote:  

(12-21-2017 02:21 PM)Kid Twist Wrote:  

(12-21-2017 05:16 AM)[email protected] Wrote:  The reason BCH isn't a scam isn't so much just the better tech and fees but big baller money backing it. Both the big miners and institutional investors will use their millions to market and promote BCH. When BCH becomes an established fiat gateway on many exchanges it will be difficult for the average person to tell the difference between it and BTC.

My research a while back showed the same thing. It's not about the name as much as it is about the best transactor, and the lightning network (as far as I understand) is inferior to BCH's

I'll wait for this drop (it'll continue) and then consider getting in, especially now that bitpay has allowed bcash

Better tech... Do you even understand Lightning Network? Bcash simply changed the blocksize from 1MB to 8MB to scale. That's it.

I mean, sure, go for Bcash if you want, but, jesus...

So this means BCash could hit 8x the marketcap of BTC.

Post: #50

I’m surprised to see people here advocating Bitcoin Cash. RVF is a fringe forum (in the best possible way), where the threat of censorship is a real possibility.

The argument for Bitcoin Cash is that Bitcoin’s network is too congested, fees are too high, confirmation times too slow, etc.

Bitcoin Cash’s answer is to increase the block size. Larger blocks make full nodes more expensive to operate. Therefore, larger blocks lead to fewer full nodes, which leads to centralized entities having more power, which makes Bitcoin require more trust.

Continue down this path, and miners have the power to censor the network by refusing to mine certain transactions. Anyone from a certain country, on a political watchlist, etc.

Linear scaling through block size increases can't match exponential growth in use cases or transactions. Pain now is better than poor engineering decisions that don't actually solve problems. The solution is to continue innovating, as well as scale modularly and grow the protocol into a stack.

In the mid 90’s streaming and HD movie would seem hard to fathom, but today we have Netflix.

Bitcoin Cash = censorship