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Bitcoin split in two, say hi to the new Bitcoin Cash
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The following comments relate to this news article:
article published on 2 August, 2017
We are seeing some major changes in the world of cryptocurrency as the most popular currency amongst them was divided into two entities. The split has been in the works for a while but it is still considered highly controversial action.
Current Bitcoin will remain as it is and the new cryptocurrency Bitcoin Cash will be created alongside. They use the same transaction history but currently ... [ read the full article ]
Please read the original article before posting your comments.
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ivymike
Member
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2. August 2017 @ 15:23 |
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This shouldn't be an issue. Bitcoin Cash will simply join the ranks of the 100 or so other cryptocurrencies that no one uses....
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hearme0
Senior Member
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3. August 2017 @ 12:31 |
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Bitcoin should and will die.
This is nothing more than an attempt to circumvent the US dollar (among other nation's currencies) and operate without impedance on the black market. Bitcoin is such a scam and it still has yet to demonstrate a viable and provable, ableit practical application of "blockchaining"
Bitcoin has no place in this world. It's artificially inflating its value all the time.
I'm sure the anti-social and socially awkward nerds will ring in and defend this but with what ammo? Bitcoin is a farce.......plain and simple. It only benefits the extortionists.
This message has been edited since posting. Last time this message was edited on 3. August 2017 @ 12:32
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Prof321
Newbie
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4. August 2017 @ 18:13 |
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If you have bitcoin, and your account disappears, you then have nothing.
Prof321
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Mellowpurplegiant
Newbie
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4. August 2017 @ 22:36 |
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Originally posted by hearme0:
Bitcoin should and will die.
This is nothing more than an attempt to circumvent the US dollar (among other nation's currencies)
I can trade with whatever currency I desire. You have no say in the matter do you?
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Bozobub
Senior Member
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5. August 2017 @ 02:22 |
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Originally posted by Mellowpurplegiant:
Originally posted by hearme0:
Bitcoin should and will die.
This is nothing more than an attempt to circumvent the US dollar (among other nation's currencies)
I can trade with whatever currency I desire. You have no say in the matter do you?
Exactly so, whether you're trading chickens or interpretations of a large infohash =) . BitCoin may or may not persist, but cryptocurrencies won't be going away any time soon.
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doowop72
Junior Member
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5. August 2017 @ 10:50 |
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Amazing how there is a lot of mixed feelings about a form of currency that's "digital" or "physical". Just my opinion, I do prefer a physical form of tender that I can hold. Precious metals. I'm not advertising. Hoarding Silver and Gold is a good investment. Yes, it also has its risks like any other stock market.
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AfterDawn Addict
1 product review
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6. August 2017 @ 13:56 |
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Originally posted by hearme0:
Bitcoin should and will die.
This is nothing more than an attempt to circumvent the US dollar (among other nation's currencies) and operate without impedance on the black market. Bitcoin is such a scam and it still has yet to demonstrate a viable and provable, ableit practical application of "blockchaining"
Bitcoin has no place in this world. It's artificially inflating its value all the time.
I'm sure the anti-social and socially awkward nerds will ring in and defend this but with what ammo? Bitcoin is a farce.......plain and simple. It only benefits the extortionists.
I honestly don't know if this comment was satire, but it still gave me a good laugh.
If you don't trust digital currency that can be used for crimes, then have fun trying to buy your groceries with gold coins. The only differences that crypto currencies have from governmental ones is that inflation is limited and corrupt government or pseudo-government agencies have no control. That, and they are newer and still suffer from growing pains such as slow transactions and convoluted buying and selling procedures.
Personally, I have big hopes for bitcoin cash. Going from 1MB to 8MB might seem like it would only increase speeds by 8x, but by reducing the backlog the actual transaction speeds will be far faster than that. I forget the term for it, but there is a whole science to backlogs and lines...and there is a tipping point where adding or removing just one or two percent capacity can decrease or increase waiting times several fold. 8x the capacity should make bitcoin cash fast enough for day-to-day use. This would be very bad for the world's biggest extortionists (the credit card companies).
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hearme0
Senior Member
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9. August 2017 @ 12:36 |
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Originally posted by KillerBug:
Originally posted by hearme0:
Bitcoin should and will die.
This is nothing more than an attempt to circumvent the US dollar (among other nation's currencies) and operate without impedance on the black market. Bitcoin is such a scam and it still has yet to demonstrate a viable and provable, ableit practical application of "blockchaining"
Bitcoin has no place in this world. It's artificially inflating its value all the time.
I'm sure the anti-social and socially awkward nerds will ring in and defend this but with what ammo? Bitcoin is a farce.......plain and simple. It only benefits the extortionists.
I honestly don't know if this comment was satire, but it still gave me a good laugh.
If you don't trust digital currency that can be used for crimes, then have fun trying to buy your groceries with gold coins. The only differences that crypto currencies have from governmental ones is that inflation is limited and corrupt government or pseudo-government agencies have no control. That, and they are newer and still suffer from growing pains such as slow transactions and convoluted buying and selling procedures.
Personally, I have big hopes for bitcoin cash. Going from 1MB to 8MB might seem like it would only increase speeds by 8x, but by reducing the backlog the actual transaction speeds will be far faster than that. I forget the term for it, but there is a whole science to backlogs and lines...and there is a tipping point where adding or removing just one or two percent capacity can decrease or increase waiting times several fold. 8x the capacity should make bitcoin cash fast enough for day-to-day use. This would be very bad for the world's biggest extortionists (the credit card companies).
Cryptocurrencies aren't going to be relevant in 20 years just as they aren't relevant now. While some anti-government peeps have faith in this crap that is meant to ONLY circumvent the national currencies, it's not enough to last.
As a network architect and security engineer, I see this as a fad for the most part and driven by losers that are tired of "government intervention". Yeah.........you're all the same peeps that believe the government officials of the United States actually blew up our own WTC buildings in 911. Conspiracy theory-propagating putzes!
Cryptocurrencies have no place in ANY economy unless they have a tangible benefit from the "chaining" and, now there is very little capitalized benefit other than "ledgers" which no one has any clue how to pragmatically implement to obtain some sort of benefit.
Right now social deviants are the only ones with faith in anything cryptocurrency.
And yes..........I'm knocking all ya'll but we'll revisit this in a decade so I can yell "SEE, I TOLD YOU SO"
I know I'm such an asshole but in a world of stupidity, it's called for.
This message has been edited since posting. Last time this message was edited on 9. August 2017 @ 12:39
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AfterDawn Addict
1 product review
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9. August 2017 @ 21:47 |
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Originally posted by hearme0:
Originally posted by KillerBug:
Originally posted by hearme0:
Bitcoin should and will die.
This is nothing more than an attempt to circumvent the US dollar (among other nation's currencies) and operate without impedance on the black market. Bitcoin is such a scam and it still has yet to demonstrate a viable and provable, ableit practical application of "blockchaining"
Bitcoin has no place in this world. It's artificially inflating its value all the time.
I'm sure the anti-social and socially awkward nerds will ring in and defend this but with what ammo? Bitcoin is a farce.......plain and simple. It only benefits the extortionists.
I honestly don't know if this comment was satire, but it still gave me a good laugh.
If you don't trust digital currency that can be used for crimes, then have fun trying to buy your groceries with gold coins. The only differences that crypto currencies have from governmental ones is that inflation is limited and corrupt government or pseudo-government agencies have no control. That, and they are newer and still suffer from growing pains such as slow transactions and convoluted buying and selling procedures.
Personally, I have big hopes for bitcoin cash. Going from 1MB to 8MB might seem like it would only increase speeds by 8x, but by reducing the backlog the actual transaction speeds will be far faster than that. I forget the term for it, but there is a whole science to backlogs and lines...and there is a tipping point where adding or removing just one or two percent capacity can decrease or increase waiting times several fold. 8x the capacity should make bitcoin cash fast enough for day-to-day use. This would be very bad for the world's biggest extortionists (the credit card companies).
Cryptocurrencies aren't going to be relevant in 20 years just as they aren't relevant now. While some anti-government peeps have faith in this crap that is meant to ONLY circumvent the national currencies, it's not enough to last.
As a network architect and security engineer, I see this as a fad for the most part and driven by losers that are tired of "government intervention". Yeah.........you're all the same peeps that believe the government officials of the United States actually blew up our own WTC buildings in 911. Conspiracy theory-propagating putzes!
Cryptocurrencies have no place in ANY economy unless they have a tangible benefit from the "chaining" and, now there is very little capitalized benefit other than "ledgers" which no one has any clue how to pragmatically implement to obtain some sort of benefit.
Right now social deviants are the only ones with faith in anything cryptocurrency.
And yes..........I'm knocking all ya'll but we'll revisit this in a decade so I can yell "SEE, I TOLD YOU SO"
I know I'm such an asshole but in a world of stupidity, it's called for.
Inflation isn't a conspiracy theory. Government manipulation isn't a conspiracy theory; China openly admits they are doing it EVERY SINGLE MORNING. The fees charged by companies like Visa, Mastercard, Paypal, etc are not conspiracy theories either. It's not that cypto-currencies are crypto that makes them appealing...it's that they exist and there really are not any good alternatives. You say they are not viable in any economy, but when you can't trust the government to treat money with respect (I'm talking more about China etc than the USA, although the Federal Reserve has done some shady things) or you just don't want to pay as much as 20% in fees to accept a payment these currencies become valuable. Yes, a solid, trustworthy currency without runaway inflation, government manipulation, or insane processing fees would be better...but that isn't always an option...in fact, it rarely is.
As a 'network architect' you may see crypto-currencies as an application of technology with few or no benefits, but if you look at them as currencies (it's even in the name!) instead of network loads, the value becomes apparent.
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sandyl
Newbie
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11. August 2017 @ 12:06 |
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Originally posted by hearme0:
Originally posted by KillerBug:
Originally posted by hearme0:
Bitcoin should and will die.
This is nothing more than an attempt to circumvent the US dollar (among other nation's currencies) and operate without impedance on the black market. Bitcoin is such a scam and it still has yet to demonstrate a viable and provable, ableit practical application of "blockchaining"
Bitcoin has no place in this world. It's artificially inflating its value all the time.
I'm sure the anti-social and socially awkward nerds will ring in and defend this but with what ammo? Bitcoin is a farce.......plain and simple. It only benefits the extortionists.
I honestly don't know if this comment was satire, but it still gave me a good laugh.
If you don't trust digital currency that can be used for crimes, then have fun trying to buy your groceries with gold coins. The only differences that crypto currencies have from governmental ones is that inflation is limited and corrupt government or pseudo-government agencies have no control. That, and they are newer and still suffer from growing pains such as slow transactions and convoluted buying and selling procedures.
Personally, I have big hopes for bitcoin cash. Going from 1MB to 8MB might seem like it would only increase speeds by 8x, but by reducing the backlog the actual transaction speeds will be far faster than that. I forget the term for it, but there is a whole science to backlogs and lines...and there is a tipping point where adding or removing just one or two percent capacity can decrease or increase waiting times several fold. 8x the capacity should make bitcoin cash fast enough for day-to-day use. This would be very bad for the world's biggest extortionists (the credit card companies).
Cryptocurrencies aren't going to be relevant in 20 years just as they aren't relevant now. While some anti-government peeps have faith in this crap that is meant to ONLY circumvent the national currencies, it's not enough to last.
As a network architect and security engineer, I see this as a fad for the most part and driven by losers that are tired of "government intervention". Yeah.........you're all the same peeps that believe the government officials of the United States actually blew up our own WTC buildings in 911. Conspiracy theory-propagating putzes!
Cryptocurrencies have no place in ANY economy unless they have a tangible benefit from the "chaining" and, now there is very little capitalized benefit other than "ledgers" which no one has any clue how to pragmatically implement to obtain some sort of benefit.
Right now social deviants are the only ones with faith in anything cryptocurrency.
And yes..........I'm knocking all ya'll but we'll revisit this in a decade so I can yell "SEE, I TOLD YOU SO"
I know I'm such an asshole but in a world of stupidity, it's called for.
A stupid asshole. Nothing new here.
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Member
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14. August 2017 @ 18:45 |
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This one is gonna go south-side in a hurry...subscribed!!
;)
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