4 ms·

Bitcoin Cash seems to be doing just fine with on-chain scaling. There are concerns about centralization on miners with it, but in my understanding the incentive

by haolez 9y ago

Bitcoin Cash seems to be doing just fine with on-chain scaling. There are concerns about centralization on miners with it, but in my understanding the incentives planned in the original Bitcoin paper account for that.

gruez 9y ago
>Bitcoin Cash seems to be doing just fine with on-chain scaling Has it though? AFAIK it still has lower transaction volume than bitcoin.
- haolez 9y ago
  There were some episodes in the latest months of very intense traffic (either an “attack” or someone stress testing) and Bitcoin Cash has endured it just fine. Let’s see how it works out when adoption grows. If it doesn’t scale, then the timing for off-chain scaling will be more appropriate.
  - gruez 9y ago
    I don't think anyone seriously thought that 8MB blocks would crash the network. The actual concern was in the increased cost of running a full node.
freejulian 9y ago
Bitcoin Cash can’t even scrape together enough transactions to form 100kb blocks. It’s rather disengenuous to say it’s scaling better when it has a fraction of the users. Furthermore, larger block size is directly related to centralization. The bcash crowd hopes people forget decentralization is important.
- r3demon 9y ago
  It's a common misconception that block size is somehow related to decentralization. In fact you don't need a whole blockchain to verify transactions securely, you only need a few last blocks at max. Also full nodes add nothing to the network, they have no vote, only miners and actual users do.
  - notsrg 9y ago
    If only Coinbase and large exchanges can afford to run full nodes, how many programmers will be able to afford to program your programmable money?
  - lrns_ 9y ago
    Did you forget http://www.uasf.co/ http://www.uasf.co/ ?
ty_a 9y ago
Bitcoin transactions are confirming for less than 5 Sat/b since the spamming stopped. http://core.jochen-hoenicke.de/queue/#24h http://core.jochen-hoenicke.de/queue/#24h
- lawn 9y ago
  Spam? You mean "spam" generated by Steam and Stripe since they stopped accepting Bitcoin? People have stopped using Bitcoin because the fees were too high. That's not "spam".
berberous 9y ago
Bitcoin may have made a PR mistake by not allowing for interim scaling solutions like BCH did with doubling the block size, but block size increases are a dead end. They cannot possibly scale the network enough if demand really takes off. I think lightening is a very interesting solution. You may disagree, but you can’t just plan to increase the block size forever.
koonsolo 9y ago
The moment I used Bitcoin Cash myself, I was completely stunned why people keep supporting it. To give something to back me up, just look at the charts of BCH and it's main competitors: Litecoin and Dogecoin. total # transactions: https://bitinfocharts.com/comparison/transactions-bch-ltc-doge.html https://bitinfocharts.com/comparison/transactions-bch-ltc-do... -> Litecoin does more than 2x the traffic of Bitcoin Cash and Dogecoin. Remark that Dogecoin sometimes handles more traffic than Bitcoin Cash. Transaction fee: https://bitinfocharts.com/comparison/transactionfees-bch-ltc-doge.html https://bitinfocharts.com/comparison/transactionfees-bch-ltc... -> Dogecoin clear winner, Bitcoin Cash about the same as Litecoin (but remark that Litecoin handles double the amount of transactions) So to be honest, I think Bitcoin Cash is just trying to ride the "Bitcoin" name, because for applicability, it doesn't seem to have any advantage over its direct competitors.
- deleted 9y ago
  [deleted]

by haolez 9y ago

gruez 9y ago

>Bitcoin Cash seems to be doing just fine with on-chain scaling Has it though? AFAIK it still has lower transaction volume than bitcoin.

haolez 9y ago
There were some episodes in the latest months of very intense traffic (either an “attack” or someone stress testing) and Bitcoin Cash has endured it just fine. Let’s see how it works out when adoption grows. If it doesn’t scale, then the timing for off-chain scaling will be more appropriate.
- gruez 9y ago
  I don't think anyone seriously thought that 8MB blocks would crash the network. The actual concern was in the increased cost of running a full node.

freejulian 9y ago

Bitcoin Cash can’t even scrape together enough transactions to form 100kb blocks. It’s rather disengenuous to say it’s scaling better when it has a fraction of the users. Furthermore, larger block size is directly related to centralization. The bcash crowd hopes people forget decentralization is important.

r3demon 9y ago
It's a common misconception that block size is somehow related to decentralization. In fact you don't need a whole blockchain to verify transactions securely, you only need a few last blocks at max. Also full nodes add nothing to the network, they have no vote, only miners and actual users do.
- notsrg 9y ago
  If only Coinbase and large exchanges can afford to run full nodes, how many programmers will be able to afford to program your programmable money?
- lrns_ 9y ago
  Did you forget http://www.uasf.co/ http://www.uasf.co/ ?

ty_a 9y ago

Bitcoin transactions are confirming for less than 5 Sat/b since the spamming stopped. http://core.jochen-hoenicke.de/queue/#24h http://core.jochen-hoenicke.de/queue/#24h

lawn 9y ago
Spam? You mean "spam" generated by Steam and Stripe since they stopped accepting Bitcoin? People have stopped using Bitcoin because the fees were too high. That's not "spam".

berberous 9y ago

Bitcoin may have made a PR mistake by not allowing for interim scaling solutions like BCH did with doubling the block size, but block size increases are a dead end. They cannot possibly scale the network enough if demand really takes off. I think lightening is a very interesting solution. You may disagree, but you can’t just plan to increase the block size forever.

koonsolo 9y ago

The moment I used Bitcoin Cash myself, I was completely stunned why people keep supporting it. To give something to back me up, just look at the charts of BCH and it's main competitors: Litecoin and Dogecoin. total # transactions: https://bitinfocharts.com/comparison/transactions-bch-ltc-doge.html https://bitinfocharts.com/comparison/transactions-bch-ltc-do... -> Litecoin does more than 2x the traffic of Bitcoin Cash and Dogecoin. Remark that Dogecoin sometimes handles more traffic than Bitcoin Cash. Transaction fee: https://bitinfocharts.com/comparison/transactionfees-bch-ltc-doge.html https://bitinfocharts.com/comparison/transactionfees-bch-ltc... -> Dogecoin clear winner, Bitcoin Cash about the same as Litecoin (but remark that Litecoin handles double the amount of transactions) So to be honest, I think Bitcoin Cash is just trying to ride the "Bitcoin" name, because for applicability, it doesn't seem to have any advantage over its direct competitors.

deleted 9y ago
[deleted]