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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

#171

Post by Frogolocalypse »

pmorici wrote: post #161
Frogolocalypse wrote: post #126

Earlier quoted context omitted.

> 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.

If the blocksize was increased to double its current resource requirements, where i live in Australia, it would be impossible to run a node at any price.

And because the people who run nodes know this, they reject your proposals that reduce bitcoin network security.

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

#172

Post by Frogolocalypse »

awemany wrote: post #170
Frogolocalypse wrote: post #166

Earlier quoted context omitted.

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.

Are you actually quoting reddit on yc? Thus demonstrating that reddit vote brigading is occurring on yc?

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

#173

Post by awemany »

Frogolocalypse wrote: post #172
awemany wrote: post #170

Earlier quoted context omitted.

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.

Are you actually quoting reddit on yc? Thus demonstrating that reddit vote brigading is occurring on yc?

> Are you actually quoting reddit on yc?

No, I am quoting you, not reddit. Reddit didn't write that comment.

> Thus demonstrating that reddit vote brigading is occurring on yc?

That doesn't follow, at all.

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

#174

Post by pmorici »

Frogolocalypse wrote: post #171
pmorici wrote: post #161

Earlier quoted context omitted.

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.

If the blocksize was increased to double its current resource requirements, where i live in Australia, it would be impossible to run a node at any price. And because the people who run nodes know this, they reject your proposals that reduce bitcoin network security.

You don't need to run a node unless you are a miner you should be using an SPV wallet. Chances are you already do.

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

#175

Post by trophycase »

asciimo wrote: post #79
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…

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?

bcash is fewer syllables to read in your head than BCH

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

#176

Post by topmonk »

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…

The name "Bitcoin Cash" is confusing, and the authors meant it that way, so they can piggyback on the branding.

There is no reason that the name of an unauthorized fork of a cryptocurrency should use the name of the original within it.

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

#177

Post by topmonk »

abrkn wrote: post #158
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?

Like people used to write "Micro$oft" back in the day, the phrase "Bcash" used to imply it's no longer "Bitcoin"

> the phrase "Bcash" used to imply it's no longer "Bitcoin"

Which is true, so what's the problem?

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

#178

Post by bigpeopleareold »

xorcist wrote: post #40
lawn wrote: post #6

Earlier quoted context omitted.

The first version of new and revolutionary technology rarely (if ever?) becomes the dominant one. Obvious examples are search (Altavista -> Google) and social networks (MySpace -> Facebook).

Any next system is likely to be bootstrapped from Bitcoin. That's the crucial difference.

This is crucial in the midst of loose and fast comparisons between technologies in the past and what we have now. Can a piece of complicated software like Bitcoin be re-engineered from the ground up? Yes, certainly, but that is a tough road to take, I would think, if you want to do what Bitcoin does at its core.

Bitcoin, the software, solves basic problems very well and is thus the basis of many altcoins.

I'll invest in the next big coin if it is significantly better than Bitcoin while continuing to maintain Bitcoin's core value argument.

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

#179

Post by phoyd »

Frogolocalypse wrote: post #138
ericb wrote: post #137

Earlier quoted context omitted.

Since the work was undertaken in China, can you flesh out how the fact that nodes verify consensus resolves the China-coin problem? A 51% attack dictated by the chinese government would verify just fine.

You fundamentally do not understand how bitcoin works. So let's talk about nodes and consensus as defined in the whitepaper and implemented in nodes. Let's start with the bitcoin white paper ( https://bitcoin.org/bitcoin.pdf ) : > Satoshi from the Bitcoin white-paper chapter 12 'Conclusion' : The network is robust in its unstructured simplicity. _Nodes_ work all at once with little coordination. They do not need to b…

There are only gold miners in the original whitepaper. At the time of writing, nodes were supposed to be miners that used their CPU[sic!] power. Presently, the hard part has been outsourced to dedicated facilities (ASIC farms). But, and that's the point, these facilities are still controlled by a node (the pool operator), which decides on the blocks to work on and subsequently has petahashes of voting power.

Changing the PoW algorithm (your example) would require these powernodes to vote for their own abolishment, if their $100M worth of ASICs can't support the change. So it's very unlikely.

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

#180

Post by MichaelGG »

Frogolocalypse wrote: post #164
MichaelGG wrote: post #147

Earlier quoted context omitted.

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.

>nodes don't mine

Hmm that's not how it used to be. You must be talking about something other than Bitcoin.

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