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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

#161

Post by pmorici »

Frogolocalypse wrote: post #126
CryptoPunk wrote: post #118

Earlier quoted context omitted.

Bitcoin Cash was a hard fork of Bitcoin to implement Bitcoin's original scaling plan, and original vision to be a "peer-to-peer electronic cash", and includes all account balances from before the hard fork. You may disagree that it's the real Bitcoin, but it's undoubtedly open to interpretation, and some of its advocates calling it that doesn't justify mislabeling it as bcash.

> and original vision Where in the original white-paper is the emergency difficulty adjustment? https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjust... > peer-to-peer If you don't run a node, or you can't run a node because of resource requirements, you're not a peer.

It currently costs less to run a node per month than it does to do three transactions on the blockchain in the same period. Why would anyone care to run a node if the transactions aren't affordable.

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

#162

Post by Frogolocalypse »

michaelmrose wrote: post #156
Frogolocalypse wrote: post #112

Earlier quoted context omitted.

> the userbase that bcash has The number of transactions on the bcash blockchain gives a different impression of the 'user base'. If you want a faster blockchain with a larger user base, use litecoin. It isn't as secure as bitcoin, because it isn't as decentralized as bitcoin, but at least you don't have all of your purchases recorded (who you are, what you buy, who you buy it from, when you buy it, etc.) by the chin…

Can you please explicate the means by which the chinese government could effectively trap your cash in your wallet. Couldn't you give money to any number of intermediaries?

It can be trivially done by the existing miners not committing transactions to the blockchain that they control. Because a single company, bitmain, controls more than 50% of the hashing power of bcash, they would only build on blocks that don't contain transactions from their blacklist.

That is what bcash is right now. A captured blockchain. You transact on it at the sufferance of the chinese government. If you think they won't exert that power, if they think it suits their interests, I'm not sure understanding this will convince you.

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

#163

Post by nicky0 »

Frogolocalypse wrote: post #131
CryptoPunk wrote: post #129

Earlier quoted context omitted.

The specifics of the difficulty adjustment algorithm are not critical to the original vision, but way to deflect (from the original scaling plan) to a different point. >>If you don't run a node, or you can't run a node because of resource requirements, you're not a peer. We had this discussion before: https://news.ycombinator.com/item?id=15883911

> not critical to the original vision riiiiiiiiight.

Actually the white paper does not specify the details of the algorithm anyway.

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

#164

Post by Frogolocalypse »

MichaelGG wrote: post #147
Frogolocalypse wrote: post #92

Earlier quoted context omitted.

That's why it was such a compromise. In order to get the massive decentralization and privacy boost of the malleability fix that segwit provided, the blocksize increase was included to give the increase that the classic hard-fork suggested. And it was done as a soft-fork too, which means none of the 160,000+ bitcoin nodes needed to upgrade their software. And what happened? After they got exactly what they wanted wit…

Privacy boost for a malleability improvement? Do tell. All full nodes had to upgrade or risk mining invalid blocks.

Nodes don't mine. There are still many nodes using old client node software. Look.

http://luke.dashjr.org/programs/bitcoin/files/charts/softwar...

I don't think you really understand the relationship between nodes and consensus.

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

#165

Post by pmorici »

paul7986 wrote: post #146

Newbie ... what apps turn BitCoin into cash .... I assume Coinbase can when you sell a BitCoin or a portion of BitCoin to a third party? What other ways and or apps are people using to turn BitCoin into cash/USD?

If you are in the USA you have numerous options including; Coinbase, GDAX, Gemini, itbit, and Kraken among others.

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

#166

Post by Frogolocalypse »

pmorici wrote: post #157
Frogolocalypse wrote: post #153

Earlier quoted context omitted.

I agree. They should be immediately closed. The problem with them is that crypto is a collision between tech and money. It, unfortunately, brings out the worst part of people wanting to get rich. I like yc because it isn't like that, but it just gets brigaded these days. I would completely respect a complete ban of all crypto discussion on yc. I like the fact that it isn't that.

The op is talking about accounts like yours Frogolocalypse. You only comment on crypto related articles on HN and it's always the same talking points over and over. Edit: I see further down the page someone even called you out for spamming this thread and others with identical comments over and over.

I try to talk about the technical implementation of bitcoin and the game theory that supports it. There are lots of kids whose understanding of bitcoin extends to reading reddit. That is what we see here. Unfortunately. I would prefer if reddit discussions, vote brigading, and sockpuppets, remained on reddit.

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

#167

Post by Frogolocalypse »

pmorici wrote: post #159
asciimo wrote: post #79

Earlier quoted context omitted.

Why do some people call Bitcoin Cash "Bcash?" It seems to accompany critical statements. I'll assume you're not doing it to save 6 letters, because later you refer to Bitcoin as BTC. You could have saved more letters by referring to Bitcion Cash at BCH. Is this a campaign to rebrand Bitcoin Cash as something other than a Bitcoin fork?

Yes, it was a campaign propagated by a self titled group of Crypto Currency trolls called "The Dragon's Den" They coordinate propaganda campaigns and cyber attacks on crypto currencies they don't like. There is a lot of overlap between the Dragon's Den and Bitcoin Core as well as Litecoin and they hold moderation positions in /r/bitcoin. The idea is that by calling Bitcoin Cash "bcash" they take the word "Bitcoin" ou…

Why are you discussing reddit?

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

#168

Post by pmorici »

gtrubetskoy wrote: post #69

Fascinating how all the comments explaining that for fast and cheap transactions there is Litecoin (which has SegWit and Lightning) and pointing out BCash (still vulnerable to transaction malleability because it does not have SegWit) technical and governance problems immediately got downvoted into oblivion. Edit: including this comment.

The lead Litecoin dev, Charlie Lee, made an unholy alliance with Bitcoin Core. He is part of their Dragon's Den troll coordination chat room and in return for his support on issues like blocksize and segwit they throw him a bone by recommending litecoin as Bitcoin becomes unusable for smaller transactions.

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

#169

Post by speedplane »

gtrubetskoy wrote: post #69

Fascinating how all the comments explaining that for fast and cheap transactions there is Litecoin (which has SegWit and Lightning) and pointing out BCash (still vulnerable to transaction malleability because it does not have SegWit) technical and governance problems immediately got downvoted into oblivion. Edit: including this comment.

I know the marketing jargon that "LiteCoin is silver to Bitcoin's gold", but can anyone explain how they differ materially, or is just another line of speculation?

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

#170

Post by awemany »

Frogolocalypse wrote: post #166
pmorici wrote: post #157

Earlier quoted context omitted.

The op is talking about accounts like yours Frogolocalypse. You only comment on crypto related articles on HN and it's always the same talking points over and over. Edit: I see further down the page someone even called you out for spamming this thread and others with identical comments over and over.

I try to talk about the technical implementation of bitcoin and the game theory that supports it. There are lots of kids whose understanding of bitcoin extends to reading reddit. That is what we see here. Unfortunately. I would prefer if reddit discussions, vote brigading, and sockpuppets, remained on reddit.

You mean, making comments like this one?

> Bullshit. Whingeing shitheads that never contribute where it counts. Coinbase has done fuck all to contribute to bitcoin development except be cheerleaders for every asshole fail train driver who has tried to destroy it. If they gave a shit they would have contributed to lightning development.

http://archive.is/qUkIr

The emperor has no clothes.

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