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Pineapple Fund looking to convert some funds to Bitcoin Cash
- ghughes 9y agoMoney quote: > It has been clear to us that the current bitcoin network is completely incapable of functioning as a payment processing network, not just for "cups of coffees" but even for multi-million dollar transactions, and we are using SegWit.
- jeremyt 9y agoThis is laughable. I transferred btc today in about 30 mins.
- econner 9y agoFor what fee?
- jeremyt 9y agoFor a fee that’s barely a rounding error for a ‘multimillion dollar payment’
- notyourwork 9y agoDon’t be so specific
- econner 9y agoI tried to transfer $20 out of coinbase and it was going to cost $32 to do so. Seems like if you're not doing multimillion dollar payments it's not worth it. Then again, even if you are it's not worth it.
- flashm 9y agoAnd 30 minutes is acceptable...?
- etr-strike 9y agoYes? Confirmations in bitcoin were never instant...
- xzel 9y agoDon't ACH and wire transfers take at least a day? And as a disclaimer I'm not for or against either coin.
- kuschku 9y agoIn the EU, since November 2017, wire transfers take 15 seconds (Disclaimer: some banks are still rolling it out). Welcome to the world of the Single European Payments Area Instant Credit Transfer Scheme.
- MR4D 9y agoFedwire is AT MOST a day...usually immediate. https://www.federalreserve.gov/paymentsystems/fedfunds_about.htm https://www.federalreserve.gov/paymentsystems/fedfunds_about...
- lostmsu 9y agoWait, did not Bitcoin enable SegWit already?
- slindz 9y agoThey did, but adoption has been very limited. If you look at fees from the activation date (a few months ago now) it has not moved the needle at all.
- HatchedLake721 9y agoHe just donated $1 million USD to the Internet Archive! :O https://blockchain.info/tx/efe552239f4cfcd167a49865c52ad318520166f45f4e43988237068c34b026d0 https://blockchain.info/tx/efe552239f4cfcd167a49865c52ad3185... https://www.reddit.com/r/btc/comments/7lnu9w/pineapple_fund_update_homes_in_haiti_education/drnncs5/ https://www.reddit.com/r/btc/comments/7lnu9w/pineapple_fund_...
- medlazik 9y ago> we're looking to convert some of our funds to Bitcoin Cash He's not "switching" to bcash
- tlrobinson 9y agoThis is somewhat off-topic but I might as well ask this here: who are respected technical people who support Bitcoin Cash?
- xiphias 9y agoNobody, as they now make sure that they have nothing to do with altcoins. They put an enormous amount of effort to keep Bitcoin decentralized, at the same time trying to improve fungibility.
- slindz 9y agoIn related news, Adam Back (CEO of Blockstream, current stewards of BTC) inadvertently admitted to hiring people to shape the narrative in social media.
- mhluongo 9y agoRyan X. Charles at Yours comes to mind. Many technical founders of Bitcoin co's were behind SegWit2x, which flamed out spectacularly, and some are switching to Bitcoin Cash- eg Stephen Pair of BitPay.
- tlrobinson 9y agoI’m sort of surprised the centralized Bitcoin businesses like BitPay, Coinbase, and exchanges aren’t collaborating to transparently push transactions between them off-chain. Lightning Network isn’t even required, just simple unidirectional payment channels would allow them to amortize the transaction fees over many transactions, and be instantly confirmed. The only tricky bit is the sender knowing when it can go off-chain. With BitPay soon requiring Payment Protocol that becomes easier [1] 1. https://blog.bitpay.com/payment-protocol/ https://blog.bitpay.com/payment-protocol/
- mhluongo 9y agoSome exchanges use Blockstream's Liquid federated sidechain to do inter-exchange settlement. Agreed though, payment channels have been around a long time.
- xiphias 9y agoFor a SegWit transaction they should have looked at fee/weight unit. Paying $8 for a transaction worth $60k is just being too cheap.
- vongesell 9y agoTitle is very inaccurate.