Why was this flagged?
The Bitcoin Cash Flippening
21–29 of 29 posts
Re: The Bitcoin Cash Flippening
#22Here's the super-summarized story for those who are out of the loop: the Bitcoin community has been fighting for years over what they call the "block size increase." From its original design, Bitcoin has capped each block to 1MB, which effectively caps the transactions per second to 4 or so. Raising this limit would allow more transactions per second onto the network, but with the downside of making nodes in the Bitc…
What's happening with the price of BCH is really interesting, but if you think about the liquidity of BCH vs BTC, there are far fewer BCH able to be sold on the market, so all it takes is a concerted effort by relatively few traders to increase the price of BCH until it looks like the market cap is comparable.
BCH liquidity is a fraction of BTC. If you are the owner of BCH because you held BTC at the time of the fork, there 's little chance you have gone to the trouble to copy wallets to a separate computer, move your original coins (to prevent a double spend) and install a BCH wallet.
Re: The Bitcoin Cash Flippening
#23Why was this flagged?
Probably because of ideology. A lot of bitcoiners don't want to see the flip happen.
Re: The Bitcoin Cash Flippening
#24Why was this flagged?
Probably because of ideology. A lot of bitcoiners don't want to see the flip happen.
Funny thing is if you have been holding Bitcoin since at least Aug. None of this affects you because you got an equal amount of Bitcoin Cash and the combined value of Bitcoin Core + Bitcoin Cash has hardly budged from all time highs.
Some people said their Bitcoin Cash was "free money" and sold it instead of seeing it for what it was, a hedge against developer hubris. Those folks that sold aren't in a good place right now.
Re: The Bitcoin Cash Flippening
#2557 days ago, I said that it would be a good time to buy Bitcoin. If you'd listened to me, you could have made some serious cash since then. https://news.ycombinator.com/item?id=15259134 Back then, the price dropped to around $3k. One of the questions was "What makes now a good time to buy?" And the answer was simply "Bitcoin has been crashing." The counterintuitive thing is, if you want to get into bitcoin, you need…
It's only down 1k. You want to buy now? It's like catching a falling knife.
Re: The Bitcoin Cash Flippening
#26Earlier quoted context omitted.
Each node in Bitcoin's P2P network has to store a copy of every transaction since the beginning of time. This currently takes 140GB of disk space and is growing by 5GB per month. If more transactions are allowed to go through, it'll grow even faster. If it grows to extremely large numbers, only those who can afford the huge disk arrays will be able to run a node. The fear is that eventually, only major companies and…
Trying to work around the problem of all part transactions having to be present on a node by limiting the number of transactions that can happen honestly sounds like a silly joke. The entire point of any currency is easy, cheap and fast transactions.
> The entire point of any currency is easy, cheap and fast transactions.
All of those are relative, and part of tradeoffs with other values. If you think those are the only important properties of a currency, you're missing the entire motivation behind crypto currencies.
Re: The Bitcoin Cash Flippening
#27Earlier quoted context omitted.
Trying to work around the problem of all part transactions having to be present on a node by limiting the number of transactions that can happen honestly sounds like a silly joke. The entire point of any currency is easy, cheap and fast transactions.
> The entire point of any currency is easy, cheap and fast transactions. All of those are relative, and part of tradeoffs with other values. If you think those are the only important properties of a currency, you're missing the entire motivation behind crypto currencies.
For a long time one of the big promises of Bitcoin was that you can easily, cheaply and quickly transfer them even to people in other countries.
I assume the benefits you are referring to are political? Like lack of central per controlling it? If so, I don't think that will run over every day Joe.
Re: The Bitcoin Cash Flippening
#2857 days ago, I said that it would be a good time to buy Bitcoin. If you'd listened to me, you could have made some serious cash since then. https://news.ycombinator.com/item?id=15259134 Back then, the price dropped to around $3k. One of the questions was "What makes now a good time to buy?" And the answer was simply "Bitcoin has been crashing." The counterintuitive thing is, if you want to get into bitcoin, you need…
It's only down 1k. You want to buy now? It's like catching a falling knife.
22 hours later it went from $5800 to $6580.