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BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

blog.bitpay.com

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Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#101

Post by anonymous5133 »

Frogolocalypse wrote: post #96
anonymous5133 wrote: post #94

Finally. I think the bigger companies are starting to realize that bitcoin cash is taking over the smaller payments. Payments on bitcoin cash right now are under 1 penny and confirm in less than 10 minutes. Try it out for yourself, it is pretty amazing really.

bcash handles a fraction of the transactions of either bitcoin or litecoin. If you want a cheap option, litecoin is great. It's been around for years, and isn't controlled by the chinese government. In bcash, the nodes, the developers, the miners, and now the payment processor, are all owned by the same chinese company. Currently litecoin is processing about four times the transaction count of bcash. They also have a…

bcash still has lower fees. I am using exodus and I am getting quoted 2 cents for bcash. Litecoin I am getting quote of 22 cents while bitocin is like 5 bucks.

Though I would agree that litecoin is better than the original bitcoin. However, litecoin does not beat bcash, IMO.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#102

Post by Frogolocalypse »

anonymous5133 wrote: post #98
ryebit wrote: post #86

Earlier quoted context omitted.

It's more a reaction to Bitcoin Cash officially insisting that it's the "real" bitcoin, and trying to actively misleading users by referring to BTC as "Bitcoin Core", creating a false parity to make it seem like they're both equal "forks" that bitcoin split into. I've tried to refer to them using the less loaded "BTC" and "BCH" symbols instead; but it's kindof getting tiring, hearing people insist "Bitcoin Cash is Sa…

The difference is that you have to look at the attributes of each coin and see which one most likely reflects the white paper that satoshi himself wrote. He is talking about a P2P cash system, not a P2P gold system. Just because the first generation of bitcoin was the beginning doesn't mean it still reflects the original vision.

A peer, in bitcoin, is a node. If you don't run a node, or indeed if you can't run a node because of its resource requirements, you aren't a peer.

Bitcoin : Peer-to-peer cash.

You went right over the first part, and only talk about the second part, even though in the first part, the word 'peer' is used twice.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#103

Post by Frogolocalypse »

anonymous5133 wrote: post #101
Frogolocalypse wrote: post #96

Earlier quoted context omitted.

bcash handles a fraction of the transactions of either bitcoin or litecoin. If you want a cheap option, litecoin is great. It's been around for years, and isn't controlled by the chinese government. In bcash, the nodes, the developers, the miners, and now the payment processor, are all owned by the same chinese company. Currently litecoin is processing about four times the transaction count of bcash. They also have a…

bcash still has lower fees. I am using exodus and I am getting quoted 2 cents for bcash. Litecoin I am getting quote of 22 cents while bitocin is like 5 bucks. Though I would agree that litecoin is better than the original bitcoin. However, litecoin does not beat bcash, IMO.

There are lots of altcoins that have low fees. When you are getting a single company to process your payments, it is always likely to be at a lower cost. The only question is why they're even bothering to store the information in a blockchain. It would just be easier if they used an SQL database. Without the decentralization, it is the same risk profile. They know who you are, what you're spending your money on, and they can black-list your spending addresses with trivial ease. Like paypal. Just less efficient.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#104

Post by anonymous5133 »

arkona wrote: post #33
gressquel wrote: post #2

The article sounds like a propaganda for BCash. For common peoples information, BCash is supported by chinese miners, Satoshi Nakamoto impersonator, a convict named Roger and other types of dubious characters.

> Bcash It’s Bitcoin Cash. You’re just making the community look like a cult.

That's why I left /r/bitcoin. Too much people just shilling like crazy and the mods are openly banning anyone who talks anything bad about bitcoin. No joke.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#105

Post by empath75 »

LyndsySimon wrote: post #3

It seems clear to me at this point that the cryptocurrency revolution is now bigger than Bitcoin itself. Years ago, I saw three long-term outcomes: Bitcoin being king and altcoins dying on the vine, Bitcoin being one of innumerable blockchains in use, and cryptocurrencies in general failing to gain adoption. I'm scratching the first outcome off the list, and my pen is hovering over the last outcome.

Many block chains being in use is going to wreck the value of bitcoin long term.

People have this bizarre idea that cryptocurrency tokens are ‘rare’. They’re not. It’s trivial to make a new currency or fork an existing one.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#106

Post by Frogolocalypse »

anonymous5133 wrote: post #99
Frogolocalypse wrote: post #54

Earlier quoted context omitted.

There is nothing stopping you creating your own super duper side chain if you think you have a better solution. It is open source after all.

Yeah we already did, it is called bitcoin cash lol and it works. The hell with bitcoin's high fees, never again.

paypal works too. I prefer to not record my payments with the chinese government though.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#107

Post by anonymous5133 »

ohhhlol wrote: post #80
Cyberdog wrote: post #18

Earlier quoted context omitted.

How are Chinese miners dubious characters? Also, Roger Ver got convicted of selling varmint-grade firecrackers on eBay. Who cares.

https://en.wikipedia.org/wiki/Talk:Roger_Ver#Explosives_vs_f... 'As for fireworks vs explosives, the current limit on firecracker size in the US is 50mg of flash powder. The "Pest Control Report 2000" was 1000mg'

This is what everyone resorts to when you know they can't win the argument. They have to attack the messenger. It never works in the end.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#108

Post by anonymous5133 »

Frogolocalypse wrote: post #103
anonymous5133 wrote: post #101

Earlier quoted context omitted.

bcash still has lower fees. I am using exodus and I am getting quoted 2 cents for bcash. Litecoin I am getting quote of 22 cents while bitocin is like 5 bucks. Though I would agree that litecoin is better than the original bitcoin. However, litecoin does not beat bcash, IMO.

There are lots of altcoins that have low fees. When you are getting a single company to process your payments, it is always likely to be at a lower cost. The only question is why they're even bothering to store the information in a blockchain. It would just be easier if they used an SQL database. Without the decentralization, it is the same risk profile. They know who you are, what you're spending your money on, and…

Those altcoins don't have the userbase that bcash has. Bcash actually has an active community that is pushing to integrate bcash into mainstream commerce and that's what I like. Store of value is nice but medium of exchange is what really appeals to me personally.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#109

Post by Frogolocalypse »

elif wrote: post #100
davej wrote: post #22

Earlier quoted context omitted.

While I agree that Segwit2x would have been good for BTC, it ultimately only kicks the can down the road a little bit. If BTC (or BCH) is going to be used at Visa/Mastercard scale then the transactions need to happen off-chain. The Lightning Network is the answer here, a lot of work still needs to be done though, particularly on the software side.

It only kicks the can until you scale the remaining components to where it can scale: - the whitepaper itself solved the storage problem with old transaction pruning. - The block propagation and validation bandwidth requirements can be brought down 90%+ by canonically ordering transactions, memoizing transaction validation, and propagating only the block header and metadata. - the inefficiencies in the actual code ar…

Ah BU. Affectionately known as fail-train #3. It was rejected for reasons that are clearly not evident to you, but rejected it remains.

If you would only go and implement your gigablock altcoin and leave bitcoin development alone, that would be great.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#110

Post by Frogolocalypse »

anonymous5133 wrote: post #97
hrrsn wrote: post #28

Earlier quoted context omitted.

This is the major (technical - plenty of political issues) problem I have with Bcash. It’s cheap and fast because transaction volumes, and price, are 10% of BTC, yet blocks are 1.5x the size (roughly, looking at a block explorer). As soon as they fill up, they’ll have the exact same problems down the line. Increasing the block size doesn’t scale long term and is a bandaid solution at best. BTC was fast and cheap when…

Everything is relative. The significant part is that increasing the block size steadily can scale to huge transaction volumes. Visa level transaction levels of around 2,000 TPS can be achieved with block size increases and higher end computer hardware. If we are talking visa level transaction volumes then the user base has to be at least 500 million users. If the userbase is that large then think of how many people w…

> The significant part is that increasing the block size steadily

160,000+ bitcoin nodes are not interested in your centralization scheme, whether it is done 'steadily' or immediately.

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