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Shows the power of crypto. Except don't use unsupported crappy forks. Gotta use the original.

• jbirer 6y ago
  But they are using the original Bitcoin, not the Lightning Network altcoin.
  • Tenoke 6y ago
    They are using Bitcoin Cash which is a fork of Bitcoin.
    • jbirer 6y ago
      I would bet 100$ with you on this but unfortunately I have to use it for fees to pay for my 10$ Bitcoin coffee invoice.
  • asdev 6y ago
    they are using a Bitcoin Cash, a failed fork of the original Bitcoin blockchain
• superbcarrot 6y ago
  You can't do the same low-cost transfer with the original though.
  • asdev 6y ago
    https://mashable.com/article/bitcoin-1-1-billion-transaction/ https://mashable.com/article/bitcoin-1-1-billion-transaction... 1B moved for $80 fee. Do your research.
    • superbcarrot 6y ago
      I don't see how this proves anything, on a linear scale it's still much more expensive than BCH fees.
      • asdev 6y ago
        It proves you can do a low cost transfer of a large quantity of money on the original network.
• littlestymaar 6y ago
  At the moment BTC fees are 100 times higher than those of bitcoin cash though. (Of course for $38M it doesn't matter, but at least with “half a penny” transactions, you can actually use it as a mean of payment (but even BCH wouldn't scale for mainstream payment)
  • asdev 6y ago
    BTC won't be the transaction layer for crypto. It'll be the base settlement layer and a store of value. There's a reason the internet OSI model has layers. Bitcoin Cash is trying to optimize Bitcoin for something it isn't.
  • hggh 6y ago
    > but even BCH wouldn't scale for mainstream payment Yes it will: https://bitcoincashresearch.org/t/testnet4-and-scalenet/148 https://bitcoincashresearch.org/t/testnet4-and-scalenet/148
    • littlestymaar 6y ago
      That's still 2 orders of magnitude off: to reach something akin to Visa/Mastercard (tens of thousand tx/s) with a single-chain and a 10-min block target spacing, you'd need a block-size of tens of GB! Good luck finding people willing to run a full-node for zero compensation in such case. There are alternative designs being studied right now[1][2], but BCH is not a real contender here. [1] Elastico: https://arxiv.org/pdf/1805.03870.pdf https://arxiv.org/pdf/1805.03870.pdf [2] Masa: https://arxiv.org/pdf/1803.09029.pdf https://arxiv.org/pdf/1803.09029.pdf
      • hggh 6y ago
        Visa processes an average of 150 million transactions per day [1] (less than 2000 tx per second), so a 256MB block would do it. Of course that blocksize should be incremented with more demand. [1] https://usa.visa.com/run-your-business/small-business-tools/retail.html https://usa.visa.com/run-your-business/small-business-tools/...
• asdev 6y ago
  downvoters are B cash shills that need to do their research