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Bitcoin was never supposed to be capped at 7 transactions per second, there are no technical reasons for that limit to exist anymore (it was added in 2010 as a

Bitcoin was never supposed to be capped at 7 transactions per second, there are no technical reasons for that limit to exist anymore (it was added in 2010 as a temporary measure). Until (if) Bitcoin BTC decides to scale people can use the Bitcoin Cash [0] fork, which today has ~32 times more capacity, with a roadmap to continue scaling to universal usage while keeping fees low [1]. [0] https://bitcoincash.org/ https://bitcoincash.org/ [1] https://whybitcoincash.com/ https://whybitcoincash.com/

deleted 5y ago
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zapdrive 5y ago
I don't know who is down voting you.. But you are right. That temporary limit has been abused by a faction of people (funded by banks) trying to control Bitcoin. That's why there's a surge of other coins that have removed the limitation. And one of the reasons why Bitcoin's dominance stands below 54% today.
- fidelramos 5y ago
  There are a lot of BTC maximalists that see any alternative cryptocurrency as a scam, something which is definitely not true for many of them that have thousands of daily active users. I also feel that many BTC maximalists don't appreciate how Bitcoin Cash makes apparent the limitations of BTC, as it processes more transactions than BTC while keeping fees under 1 cent. txstreet [0] makes for a great visualization, check the statistics at the bottom. Personally I wish Bitcoin Cash didn't even need to exist, if BTC had scaled as it was originally planned by Satoshi Nakamoto (increasing the maximum block size before it got full). It was sad watching the adoption rate halt and then regress. Remember when BTC was becoming accepted by Steam, Microsoft, Dell, NewEgg and others back in 2015-2016? There is no doubt in my mind that if BTC had scaled properly almost every online shop and a lot of real-world shops would be accepting BTC by now (and incidentally BTC price would be even higher than it is today). [0] https://txstreet.com/v/bch-btc https://txstreet.com/v/bch-btc
Graffur 5y ago
HN always seems to have bitcoin cash fans. I don't get it. Bitcoin cash has 'leaders' in the space who are very quesitonable. Bitcoin cash also has no place if we take into account other cryptos (Monero or Algorand). Bitcoin cash exists only to dilute the bitcoin 'brand' imo.
- fidelramos 5y ago
  Bitcoin Cash exists to continue the original scaling plan for Bitcoin: increasing the maximum block size. I watched the Bitcoin scaling debate back in 2014, 2015 and 2016, and every attempt was made to increase BTC's maximum block size without a hard fork, but every move was blocked by Bitcoin Core's developers. "Diluting the Bitcoin brand" was never a goal, but at some point the fork was the only way to scale. About "Bitcoin cash also has no place if we take into account other cryptos (Monero or Algorand)", I completely disagree. Bitcoin Cash brings a lot to the table: - Shared history with BTC up to the fork day (August 1, 2017). - SHA-256d mining, like BTC. - Much increased capacity, about 20 times higher, with plans to continue scaling to order of magnitudes more. - Very low fees (less than $0.01), with a roadmap to keep them low as usage grows. - Reliable almost instant 0-conf for smaller-to-medium transactions, with plans to improve its security. - Privacy improvements such as CashFusion [1]. I wish Bitcoin Cash didn't need to exist because BTC scaled, but until then I will keep using it and advising others to do so. [1] https://cashfusion.org/ https://cashfusion.org/
  - Graffur 5y ago
    Like it or not, nobody wants POW. IMO it's worth it for bitcoin but a new crypto is not going to get traction with POW. Other coins have low fees and privacy. Neither are unique selling points. Why not use Algo instead of bitcoin cash? https://algorand.foundation/the-algo/algo-basics https://algorand.foundation/the-algo/algo-basics
    - fidelramos 5y ago
      I'm not a BCH maximalist, I just want the world to benefit from sound Electronic Peer-to-Peer cash, and BCH works for that today, and is a good candidate for the future. I would use Algorand if it worked, was decentralized (haven't checked the project yet) and was accepted at shops. I disagree with your comment about PoW because hashrate moves between coins. It's not impossible for hashrate to move from BTC to BCH in the future, especially if BCH adoption continues to rise.

deleted 5y ago

[deleted]

zapdrive 5y ago

I don't know who is down voting you.. But you are right. That temporary limit has been abused by a faction of people (funded by banks) trying to control Bitcoin. That's why there's a surge of other coins that have removed the limitation. And one of the reasons why Bitcoin's dominance stands below 54% today.

fidelramos 5y ago
There are a lot of BTC maximalists that see any alternative cryptocurrency as a scam, something which is definitely not true for many of them that have thousands of daily active users. I also feel that many BTC maximalists don't appreciate how Bitcoin Cash makes apparent the limitations of BTC, as it processes more transactions than BTC while keeping fees under 1 cent. txstreet [0] makes for a great visualization, check the statistics at the bottom. Personally I wish Bitcoin Cash didn't even need to exist, if BTC had scaled as it was originally planned by Satoshi Nakamoto (increasing the maximum block size before it got full). It was sad watching the adoption rate halt and then regress. Remember when BTC was becoming accepted by Steam, Microsoft, Dell, NewEgg and others back in 2015-2016? There is no doubt in my mind that if BTC had scaled properly almost every online shop and a lot of real-world shops would be accepting BTC by now (and incidentally BTC price would be even higher than it is today). [0] https://txstreet.com/v/bch-btc https://txstreet.com/v/bch-btc

Graffur 5y ago

HN always seems to have bitcoin cash fans. I don't get it. Bitcoin cash has 'leaders' in the space who are very quesitonable. Bitcoin cash also has no place if we take into account other cryptos (Monero or Algorand). Bitcoin cash exists only to dilute the bitcoin 'brand' imo.

fidelramos 5y ago
Bitcoin Cash exists to continue the original scaling plan for Bitcoin: increasing the maximum block size. I watched the Bitcoin scaling debate back in 2014, 2015 and 2016, and every attempt was made to increase BTC's maximum block size without a hard fork, but every move was blocked by Bitcoin Core's developers. "Diluting the Bitcoin brand" was never a goal, but at some point the fork was the only way to scale. About "Bitcoin cash also has no place if we take into account other cryptos (Monero or Algorand)", I completely disagree. Bitcoin Cash brings a lot to the table: - Shared history with BTC up to the fork day (August 1, 2017). - SHA-256d mining, like BTC. - Much increased capacity, about 20 times higher, with plans to continue scaling to order of magnitudes more. - Very low fees (less than $0.01), with a roadmap to keep them low as usage grows. - Reliable almost instant 0-conf for smaller-to-medium transactions, with plans to improve its security. - Privacy improvements such as CashFusion [1]. I wish Bitcoin Cash didn't need to exist because BTC scaled, but until then I will keep using it and advising others to do so. [1] https://cashfusion.org/ https://cashfusion.org/
- Graffur 5y ago
  Like it or not, nobody wants POW. IMO it's worth it for bitcoin but a new crypto is not going to get traction with POW. Other coins have low fees and privacy. Neither are unique selling points. Why not use Algo instead of bitcoin cash? https://algorand.foundation/the-algo/algo-basics https://algorand.foundation/the-algo/algo-basics
  - fidelramos 5y ago
    I'm not a BCH maximalist, I just want the world to benefit from sound Electronic Peer-to-Peer cash, and BCH works for that today, and is a good candidate for the future. I would use Algorand if it worked, was decentralized (haven't checked the project yet) and was accepted at shops. I disagree with your comment about PoW because hashrate moves between coins. It's not impossible for hashrate to move from BTC to BCH in the future, especially if BCH adoption continues to rise.