They reversed stance so quickly, it seems plausible this was a calculated move to increase news coverage of Coinbase.
Update on Bitcoin Cash
41–50 of 239 posts
Re: Update on Bitcoin Cash
#42Is 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.
I've had a similar experience with coinbase - likely the worst customer experience of my lifetime.
Re: Update on Bitcoin Cash
#43Earlier 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 ?
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.
Segregated witness is nothing to do with off chain transactions. SegWit just moves some signatures around in the block so more transactions can be fitted in each block.
This does have some benefits for off chain transaction networks because it changes what parts of the block are signed and need to be verified. Off chain transaction networks can still work fine with or without segwit though.
Re: Update on Bitcoin Cash
#44Earlier 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 ?
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.
It's a quite a bit more complicated than just increasing the block size to 8mb, actually, and in reality Bitcoin Cash ended up using one of SegWit's key changes in modified form.
The default Bitcoin signature algorithm has quadratic performance due to repeated hashing and if the block size is increased above 1MB an attacker can use this in a fairly nasty DoS attack that, worst case, might be able to fork the blockchain. The BTC/SegWit side fixes this by creating a new transaction type that moves the signatures outside the main block into a separate "witness" and uses more efficient signature hashing. The new transactions appear to older nodes as though they simply didn't require signatures, so existing software keeps working. This also fixes an annoying issue called "transaction malleability" which allows attackers to change the transaction IDs of other people's transactions; all of the data hashed to compute the transaction ID is now signed. It's apparently this malleability fix that makes off-chain payments easier.
BCH essentially replaces the original signature hashing algorithm with the SegWit one but keeps the signatures in the block. Bitcoin also has a hard cap on the number of expensive CHECKSIG operations that can be carried out to prevent DoS attacks and both sides take different approaches to raising that, neither of which is straightforward.
Re: Update on Bitcoin Cash
#45Is 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.
VP Ops at Coinbase We are trying to scale our support team as quickly as possible. Wish I had a better answer for you. https://blog.coinbase.com/improving-customer-support-139d99e... If you still need help with your issue, send me an email (in my profile).
I saw your 3 month remote support contract position, I'm a lawyer in Miami working on my own tech projects, and would be interested in this type of temporary remote work with Coinbase while I hopefully get ramen profitable.
if appropriate forward my LinkedIn to the right person: https://www.linkedin.com/in/willbrownesq/
Re: Update on Bitcoin Cash
#46They reversed stance so quickly, it seems plausible this was a calculated move to increase news coverage of Coinbase.
If you are going to be cynical, why not go full cynic and say they were waiting to see whether the public outrage would be higher than the value of Bitcoin Cash they pilfered of their customer base.
Re: Update on Bitcoin Cash
#47Question: if Coinbase never claimed the Bitcoin Cash, would there be any grounds for a lawsuit?
Re: Update on Bitcoin Cash
#48Dumb question:
Supposing BCC eventually becomes of comparable value to BTC, does this mean everyone's fortune was just doubled?
Re: Update on Bitcoin Cash
#49Say what you will about Coinbase, but I really appreciate their willingness to adapt and respond to customer feedback.
I personally didn't want to take on the risk of creating a paper wallet and having to move my small amount of BTC from my Coinbase vault, so this is great news for me.
Re: Update on Bitcoin Cash
#50Dumb question: Supposing BCC eventually becomes of comparable value to BTC, does this mean everyone's fortune was just doubled?
That's correct. If you had one btc before the fork, you now have one btc and one bch.
I wonder what implications this has to the global economy. If we continue to fork will there be a global hyperinflation?