If ABC developers want to avoid being curb stomped by nChain/Coingeek & Co. on Nov. 15th they better use WeChat to ask their boy Jihan for their 30% employee discount at Bitmain on Antminers
Could you clarify/point to data on ABC's socialist changes?
Sure - i replied to the thread on my original comment asking the same question. let me know if you would like me to elaborate further
What is it about ABCs proposed changes you find socialist? And why?
If you read Toomim's post, its essentially an attempt to make mining more 'fair' by making block propagation part of the base code - this is essentially wealth redistribution
What is it about ABCs proposed changes you find socialist? And why?
Only negative is that ABC's socialist changes get activated....but these could be removed in the future and may be the price to pay to compete with BTC on a more even level. I prefer SV win
Bitmain would have to move hash from BTC to BCH, and the BCH network would stregthen significantly as a result. the security increases, mining becomes more competitive, and BTC weakens
Many are confused about Ryan Charles video where he says Bitmain summoning hash to mine BCH is a good thing - please think through why he said this some more. what are the implications?
Also, miners tolerance for losing money is low from supporting a minority chain that dies off. mining pools that initially support the loser cannot afford this as many would lose $$$
If they do support a minority chain, they will quickly change to the majority to recoup funds, therefore ensuring that we do not have a persistent chain split, and retain one BCH chain
I dont think so. No one in the space wants a split as it would be devastating for encouraging adoption. we dont want to explain to merchants/new ppl what BSV or BABC is
Also, miners tolerance for losing money is low from supporting a minority chain that dies off. mining pools that initially support the loser cannot afford this as many would lose $$$
Is there going to be a chain split? If yes, could you explain why you think so or point towards a reference? Thanks 🤙🏼
I dont think so. No one in the space wants a split as it would be devastating for encouraging adoption. we dont want to explain to merchants/new ppl what BSV or BABC is
I think it is pretty bad. We dont know how much dollars of BTC fiat worth is USD vs Tether. Once their insolvency is proven we will find out - i dont believe it affects BCH as much
From here, we keep pushing adoption, building and working towards the transaction count. Of course we can take advantage after the price drop and buy more
How bad is Tether and that risk? How exposed is Bitcoin Cash? Where do we go from here?
I think it is pretty bad. We dont know how much dollars of BTC fiat worth is USD vs Tether. Once their insolvency is proven we will find out - i dont believe it affects BCH as much
I think they were taking advantage of the other miners trying to include as many tx in a block to use their hash to quickly find a block. This happens occasionally day-to-day
But naturally this should not have been happening during the stress test for a major miner as many transactions were in their mempools - they should have put in as many tx as possible
As far as computing time, it doesn't cost much more to mine a full block than an empty block. So what was Bitmain trying to prove?
I think they were taking advantage of the other miners trying to include as many tx in a block to use their hash to quickly find a block. This happens occasionally day-to-day
Hello, what does the 'Verify user' button actually do? I see it puts a checkmark next to the user's profile but is there any functionality? I tried a search with no luck
If Maduro announced that Venezuela would only sell its oil in Bitcoin, their hyperinflation is almost instantly solved - however things may not end so well for him....(see Libya)
Ohhhhhh ok that makes sense.
So why wouldn’t the satoshi amount adjust with the rise in fiat prices though?
The transaction sizes are independent of the fiat price. The minimum fee you'd pay is ~226 sats - this would be the same if BCH rose to 10,000 tomorrow.
Really?? Is this actually true?
I thought BCH fees would always stay low as long as BCH continues to scale ahead of the adoption???
The satoshi amount will remain unchanged, 1 sat per byte. If we evaluate the fee amount in fiat (dollars) then yes 10x price implies 10x cost in fees in fiat. In BCH fee amount is same
In hopes of influencing the price in an attempt to disagree with the miners. Only in a case where the miners do something absurd like increase supply of coins would this be effective
A good example of this is Coingeek exclusively mining BCH - if they followed the market, they would mine BTC for more profit, but they have too much resolve despite 'market forces'
Miners run the show. People are claiming economic nodes like Coinbase or other exchanges determine the longest chain - they do not, nor do users. All they can do is sell coins
In hopes of influencing the price in an attempt to disagree with the miners. Only in a case where the miners do something absurd like increase supply of coins would this be effective
Why? I can't see how they don't matter at all.
Miners run the show. People are claiming economic nodes like Coinbase or other exchanges determine the longest chain - they do not, nor do users. All they can do is sell coins
'Economics nodes matter' is UASF disinformation Pt. 2
