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"Use a different cryptocurrency." I started using Bitcoin Cash instead and I'm loving it. All the good parts about Bitcoin Core w/o the brain dead approach to
by pmorici 9y ago
"Use a different cryptocurrency."
I started using Bitcoin Cash instead and I'm loving it. All the good parts about Bitcoin Core w/o the brain dead approach to scaling.
- moduspol 9y agoYep. I expect the fee market alone will drive normal people toward Bitcoin Cash.
- grubles 9y agoDogecoin has much cheaper fees than Bcash and its block confirmation target is around 1 minute -- roughly an order of magnitude cheaper and faster than Bcash.
- pmorici 9y agoDoge has unlimited inflation it is nothing like Bitcoin Cash.
- grubles 9y agoBcash is already over-inflated relative to Bitcoin due to its mining algorithm. When the block reward diminishes enough, and fees don't supplant it, Bcash will hard fork to infinite inflation.
- Beejeepa 9y agoIt's 0.001% over-inflated? So it reaches the 2020 halving earlier, and wins then too.
- grubles 9y agoIn the ~4 months since its creation, 115,975 Bcash tokens were mined ahead of schedule.
- dane-pgp 9y agoFor those interested in this "inflation", there is a good chart here: https://fork.lol/blocks/height https://fork.lol/blocks/height As it says, "Block height. BCH is currently ahead by 9272 blocks." with the block height of both being about 500k. In fact, with the rate that BTC gains hashing power, and its comparatively less responsive difficulty adjustment algorithm, it is expected to overtake BCH's block height in the next couple of years.
- pmorici 9y agoIt is about 60 days ahead at most and it doesn't matter because the hard cap of 21 million coins is till the same. This has gotta be the dumbest argument I've ever heard.
- grubles 9y agoThe hard cap is the same until it isn't -- when Bcash has to hard fork to infinite inflation in order to incentivize mining because fees won't supplant the mining reward.
- xorcist 9y agoThat doesn't matter if you only use it for transactions. Step in, transact, step out.
- TheCoelacanth 9y agoWho is going to pay you for your Dogecoin if no one wants to hold them?
- ethftw 9y agoWho's going to work for USD if no one wants to hold them?
- TheCoelacanth 9y agoNo one, but that's an irrelevant hypothetical because people do want to hold them and that's unlikely to change. Even if people in the US did want to get paid in a different currency, they would still need some USD to pay their tax bill.
- t3soro 9y agoUnited States persons with tax or debt obligations, obviously.
- ethftw 9y agoTouche!
- xorcist 9y agoThis is indeed the folly of only valuating a coin for its transactional properties.
- lawn 9y agoA note to readers: "Bcash" is a derogary term used by Core supporters to undermine and discredit Bitcoin Cash. Always be mindful when someone uses it.
- etr-strike 9y ago“Bitcoin cash” is a name chosen to confuse newcomers and attempt to steal the bitcoin brand. The CEO of bcash refers to Bitcoin as “SegwitCoin” and their official /r/btc subreddit regularly claims to be the real bitcoin. Bcash is an appropriate name for the altcoin to eliminate confusion.
- lawn 9y agoThis is the kind of propaganda Core is pushing. Note that there is no CEO and the very same people who refer to Bitcoin Cash as Bcash refer to Ethereum Classic, Bitcoin Gold and others by their proper name...
- etr-strike 9y agoOf course there’s a CEO. Here’s an official statement from him: https://falkvinge.net/wp-content/uploads/2017/11/letter-from-the-ceo.pdf https://falkvinge.net/wp-content/uploads/2017/11/letter-from...
- grubles 9y agoHow strange it is that your comment coincides with a mass-downvoting of my comments.
- mitchellberry 9y agoIf i gave you a search algorithm with a big db then asked if it could done quicker would you prefer to spin up more cpu's or try to improve the algorithm?
- pmorici 9y agoI would spin up more CPUs. Because changing code in the near term is expensive and hard. Spinning up more CPUs is cheap and easy and ensures my company remains successful while I optimize the algorithm. Using your analogy Bitcoin Core is saying they are going to shut down Bitcoin service to all new users until they implement a new algorithm that hasn't been proven yet and is still years away from being ready.
- mattxxx 9y ago^ Exactly. The answer should almost always be spin up more cpu's.
- andoriyu 9y agoHold on, this is a bad analogy. First, the issue right here is writing to disk, not seek and read. Second, bitcoin network has enormous processing power right now. It's just whole one block every ten minutes with a size of 1 megabyte isn't going to scale. Just think about it you have all this power, but you only allowed to write 1mb in 10 minutes. So yeah, if it was my database I'd reduce commit time and increase commit size. Remember blockchain is nothing more than a distributed append-only database. Personally, I think bitcoin is good in place of wire transfer/SWIFT, but right now it can't do that because it's too volatile. I think banks having their own blockchains (i.e. quorum from Chase) is what is going to happen.
- QML 9y agoDepends on the search algorithm; if it can be parallelized, then modify the algorithm to take advantages of multiple CPUs. If not, then start throwing more threads at it. In Bitcoin’s case, I don’t think we have a lack of CPUs though.