Live data from Hacker News

Update on Bitcoin Cash

blog.coinbase.com

31–40 of 239 posts

Re: Update on Bitcoin Cash

#31
post #24

Earlier quoted context omitted.

Can someone who understands pros and cons of bcc vs btc explain to me ( us ) which one of the two is more likely to scale / win ?

Personally I think Bitcoin is quickly becoming the MySpace of CryptoCurrencies for example Monero offers a much better product funcionality-wise.

How so? Can you elaborate ?

Re: Update on Bitcoin Cash

#32
post #16

Is there a viable alternative to Coinbase? Their support is absurdly awful. Two months and they sent two auto-replies to a simple ticket that couldn't be answered by the knowledge base. They don't care about your money - so long as it's already in their vault.

yes their support is really terrible. No longer a customer

Re: Update on Bitcoin Cash

#33

Earlier quoted context omitted.

Do you mean inflation ? Crypto currency space is new still, forks are innovation and competition. That is good.

Can someone who understands pros and cons of bcc vs btc explain to me ( us ) which one of the two is more likely to scale / win ?

BCC = Block space isn't a big deal BTC = Block space is a big deal

The number of auditors is inversely proportional to the size of blocks.

If you don't think automated auditing of the mint by as many disparate entities as possible is a prerequisite of sound money, then you probably think BCC makes the right decisions. If you do, then BTC makes the right decisions.

Re: Update on Bitcoin Cash

#34
post #16

Is there a viable alternative to Coinbase? Their support is absurdly awful. Two months and they sent two auto-replies to a simple ticket that couldn't be answered by the knowledge base. They don't care about your money - so long as it's already in their vault.

"move fast and break things"

Re: Update on Bitcoin Cash

#36
post #24

Earlier quoted context omitted.

Personally I think Bitcoin is quickly becoming the MySpace of CryptoCurrencies for example Monero offers a much better product funcionality-wise.

How so? Can you elaborate ?

first: there is no block scalability problem, the size of the block adapts to the number of current transactions.

second: privacy even for regular law obeying citizens do you really want anyone to have access to how much CryptoCurrency you have and the record of all your transactions?

third: at the moment is ASIC resistant and anyone even using a desktop or laptop can mine, personally I think this is very important for effective distribution in less developed countries.

Re: Update on Bitcoin Cash

#37
post #4

Does this mean that customers in a short position owe Bitcoin Cash?

Matt Levine at Bloomberg wrote a fascinating piece on this yesterday:

https://www.bloomberg.com/view/articles/2017-08-02/bitcoin-e...

It's an interesting read even if you don't care about shorts or bitcoin at all.

Re: Update on Bitcoin Cash

#38
post #11
post #9

Earlier quoted context omitted.

Then I'm really confused as to the relationship between the two. Here's Coinbase support posting a "how do I use GADX?" article: https://community.coinbase.com/t/what-is-gdax-how-do-i-use-i...

GADX is their trading platform. They don't plan on supporting trading with BCC. That being said, no, you don't own a short position. I don't see why that would even be related to this.

Because shorting means you're borrowing BTC so you can sell it off. Since you borrowed BTC, you're the one who would have received the BCC for that BTC, so are you on the hook to give that back as well?

If I borrow your hen and it lays an egg and that hatches a chick, shouldn't I give you the chick back with the hen?

Re: Update on Bitcoin Cash

#40
post #17

Earlier quoted context omitted.

they are two diferent ways to solve the same scalability problem, Btc doubles the current number of transactions by increasing the block from 1mb to 2mb and adds a new service the segregated witnesses that allows off-the-chain private transactions, Bcc simply increases the block to 8mb for roughly 8x times more transactions.

Off the chain transactions ? Then what's the point of a blockchain ? Hmmm

Blockchain remains, but it's will only contain hash of transaction script. Actual transaction script body which is heavy and take most of space in blockchain will go into separate extended block. This reduces size of transactions in main chain.

You might want to check this 5 minute segregated witness explained video:

https://youtu.be/OFfBRzh9HmU

Or this 50 minute presentation from actual Bitcoin developer and initiator of segwit:

https://youtu.be/NOYNZB5BCHM

Post reply on HN