Agreed it is an old video, but the problems it highlights are still current. The push for everyone to run a full Bitcoin-core (this is what the bitcoin software is called) node to "secure" the network is conflating the issues of network security and "decentralisation" with the disingenuous purpose of getting people used to the idea of operating nodes - a requirement of running a LN node. This is *not* and has *never been* a requirement for on-chain scaling or instant (0-conf) transactions on bitcoin. Also from a technical POV, non-mining nodes don't secure anything, they can't accept or reject a transaction, their only possible benefit to their operator is to observe that a specific transaction took place by displaying confirmations. A real world use case for running a non-mining node is a POS network validating transactions on behalf of merchants so they know the customer has paid for goods or services. LN also introduces custodial risk, not present with on-chain transactions.
Old video but still accurate. Even LTC fees are 20x higher than BCH fees. This means BTC core can never be a world currency because people earning 2$ per day will not be able to even open a LN channel.
ShareTheDark in order to be a currency you need to have a stable value. Is that really what you want to see Bitcoin cash turn into? As for higher fees you might want to mention actual numbers. The last time I looked at a Litecoin transaction the fee was $0.02. Yet another angle is what exactly does Bitcoin cash do that Litecoin does not?
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BCH fees are 20x lower than LTC fees: here you can take a look at the fees: www.reddit.com/r/btc/comments/8drs7e/psa_so_called_lowfee_cryptocurrency_litecoin_has/ the primary source: bitinfocharts.com/comparison/median_transaction_fee-bch-ltc.html and this is before the blocksize upgrade to 32MB - so we have a clear winner in terms of usability and scalability.
ShareTheDark are you a bot or is this paid marketing? Like that reply doesn't even sound real. There is no engagement to anything I said. just cut and paste marketing?
BCH > BTC; The majority of the people are fooled by the current prices. They are fooled because the technology of Bitcoin Cash at current state is faster, cheaper, and developers can do much more on top of Bitcoin Cash then on Bitcoin Core. Sentiment comes first, and after that the price of Bitcoin Cash will soar past Bitcoin Core.
if you are interested in mining 0.5btc in one week its possible with john romney mining system contact him using his email address johnromneymininghelp@hotmail.com super miner.
This video is pretty dated, man. Small BTC transaction fees and timed have greatly reduced thanks to the adoption of SegWit wallets. Most people in the cryptospace already know this. This video being posted now is meant to mislead noobs.
I am trying to see the benefit of using LN, you need 2 wallets and have to a open channel. Rather than the way we do it now, one BTC wallet then shift to say LTC, and make a payment fast and cheap. Can you show me the advantages?
its not true that segwit is widely implemented. also the fees are low because nobody using btc at the moment (look at how few transactions are processed). wait until the next giant price move comes like in dec or jan, then fees will explode again and people will finally realize, that bch is the better bitcoin
I agree with @Frederik. The only reason fees are low now is because no one is using BTC anymore. I think the history of the bitcoin network is incredibly important so we do not make the same mistakes again.
what happens when 7 billion people start to use Segwit do you still think it will hold up? because last time I checked we did not have 7 billion people using segwit and the fees are starting to creep back up. Segwit and Lighting is just a patch not a solution
the fees of btc are low at the moment because nobody using btc at the moment (look at how few transactions are processed). wait until the next giant price move comes like in dec or jan, then fees will explode again and people will finally realize, that bch is the better bitcoin
Tesla cars are bad, their batteries cause fires in the streets when they crash after they are massively adopted. See what I did there? LN is only one of many options being pursued, its not like we would be transferring all out BTC off chain, it is for small amounts. Can we all stop this infighting please? literally every bcash thing I see is just on the attack, way to thank the developers whose code you copy pasted. All these guys should be respected, including the bcash team. You are doing well, but the constant attack stance is getting old. It just feels like a centrally held shitcoin promoted by people who always bend the truth and that is why I will never touch it. If you guys want bcash to become big then you need to work on your PR. An interesting article : bitcoinist.com/currency-10-bitcoin-cash-used-transactions-says-research/
It's still better than Peer to Corporation running node to Peer at layer 0, it's fucked at it's core. With second layer solutions, if they aren't delivering people can simply stop using them and they'll go bankrupt. Once you fuck up the protocol it's already over, and second layer solutions don't touch the protocol. Also you don't understand how LN works.
SPVs aren't safe. Satoshi didn't predict mining pools and other things. I don't care if Bitcoin "scales" or not, what I care about is not fucking up Bitcoin in the process of attempting to do so, so if someone wants to do it without fucking around at the protocol level it's none of my business.
No, satoshi did not predict mining pools as they are conceived in 2018's reality. He was wrong in many things. His code was pretty bad and used Windows. Also "he" was probably a team that put together already existing technology into that badly writen code. Now we have to hear complete idiots making a cult of out it. In any case, it's funny hearing cashies when the whitepaper itself defines Bcash an altcoin, to quote it: "The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it." You already know what that is.
Agreed it is an old video, but the problems it highlights are still current. The push for everyone to run a full Bitcoin-core (this is what the bitcoin software is called) node to "secure" the network is conflating the issues of network security and "decentralisation" with the disingenuous purpose of getting people used to the idea of operating nodes - a requirement of running a LN node.
This is *not* and has *never been* a requirement for on-chain scaling or instant (0-conf) transactions on bitcoin.
Also from a technical POV, non-mining nodes don't secure anything, they can't accept or reject a transaction, their only possible benefit to their operator is to observe that a specific transaction took place by displaying confirmations. A real world use case for running a non-mining node is a POS network validating transactions on behalf of merchants so they know the customer has paid for goods or services.
LN also introduces custodial risk, not present with on-chain transactions.
+1
Bitcoin Cash is Bitcoin 😎🚀
Old video but still accurate. Even LTC fees are 20x higher than BCH fees. This means BTC core can never be a world currency because people earning 2$ per day will not be able to even open a LN channel.
ShareTheDark in order to be a currency you need to have a stable value. Is that really what you want to see Bitcoin cash turn into? As for higher fees you might want to mention actual numbers. The last time I looked at a Litecoin transaction the fee was $0.02. Yet another angle is what exactly does Bitcoin cash do that Litecoin does not?
Are you interested in BTC mining? mining gives you access to three times your investment. Do you know you can earn 0.05btc every 9 hours with the help of Mr John Romney? you can easily contact him on WhatsApp +19519996500
You are going to thank me later.
BCH fees are 20x lower than LTC fees: here you can take a look at the fees: www.reddit.com/r/btc/comments/8drs7e/psa_so_called_lowfee_cryptocurrency_litecoin_has/
the primary source: bitinfocharts.com/comparison/median_transaction_fee-bch-ltc.html
and this is before the blocksize upgrade to 32MB - so we have a clear winner in terms of usability and scalability.
ShareTheDark are you a bot or is this paid marketing? Like that reply doesn't even sound real. There is no engagement to anything I said. just cut and paste marketing?
You asked me about numbers of the fees. Sorry for not writing a full essay about it - it's because i don't get paid for it :P
How in the hell does this only have 1627 views!!!!!! WTFH! Outrageous. Should be 30 million!
Probably because most people have caught on the the Bcash scam and know better.
I know this breaks it all down
Ok so I'm pretty much only using BCH. Sounds good.
LOL
Coins in Lightning network are not IOUs. It's full equity, no debt!
BCH > BTC; The majority of the people are fooled by the current prices. They are fooled because the technology of Bitcoin Cash at current state is faster, cheaper, and developers can do much more on top of Bitcoin Cash then on Bitcoin Core. Sentiment comes first, and after that the price of Bitcoin Cash will soar past Bitcoin Core.
Is this the official bcash channel?
We fuel the pirates with our patronage and labor 👹👹👹
nice and informative clip
if you are interested in mining 0.5btc in one week its possible with john romney mining system contact him using his email address johnromneymininghelp@hotmail.com super miner.
Till date i have not come across a mining system as profitable and reliable as Mr John Romney's system.
This video is pretty dated, man. Small BTC transaction fees and timed have greatly reduced thanks to the adoption of SegWit wallets. Most people in the cryptospace already know this. This video being posted now is meant to mislead noobs.
I am trying to see the benefit of using LN, you need 2 wallets and have to a open channel.
Rather than the way we do it now, one BTC wallet then shift to say LTC, and make a payment fast and cheap.
Can you show me the advantages?
its not true that segwit is widely implemented. also the fees are low because nobody using btc at the moment (look at how few transactions are processed). wait until the next giant price move comes like in dec or jan, then fees will explode again and people will finally realize, that bch is the better bitcoin
I agree with @Frederik. The only reason fees are low now is because no one is using BTC anymore.
I think the history of the bitcoin network is incredibly important so we do not make the same mistakes again.
right on!
what happens when 7 billion people start to use Segwit do you still think it will hold up? because last time I checked we did not have 7 billion people using segwit and the fees are starting to creep back up. Segwit and Lighting is just a patch not a solution
the fees of btc are low at the moment because nobody using btc at the moment (look at how few transactions are processed). wait until the next giant price move comes like in dec or jan, then fees will explode again and people will finally realize, that bch is the better bitcoin
Roger is our top scammer :)
imgur.com/a/4kpeL5j
Awsome video
✌👍👍👍
Tesla cars are bad, their batteries cause fires in the streets when they crash after they are massively adopted.
See what I did there?
LN is only one of many options being pursued, its not like we would be transferring all out BTC off chain, it is for small amounts.
Can we all stop this infighting please? literally every bcash thing I see is just on the attack, way to thank the developers whose code you copy pasted.
All these guys should be respected, including the bcash team. You are doing well, but the constant attack stance is getting old. It just feels like a centrally held shitcoin promoted by people who always bend the truth and that is why I will never touch it.
If you guys want bcash to become big then you need to work on your PR.
An interesting article : bitcoinist.com/currency-10-bitcoin-cash-used-transactions-says-research/
Bcash lol
Peer to Corporate Node to Peer isn't electronic cash, and that is the end game for BCash.
It's still better than Peer to Corporation running node to Peer at layer 0, it's fucked at it's core. With second layer solutions, if they aren't delivering people can simply stop using them and they'll go bankrupt. Once you fuck up the protocol it's already over, and second layer solutions don't touch the protocol. Also you don't understand how LN works.
SPVs aren't safe. Satoshi didn't predict mining pools and other things. I don't care if Bitcoin "scales" or not, what I care about is not fucking up Bitcoin in the process of attempting to do so, so if someone wants to do it without fucking around at the protocol level it's none of my business.
No, satoshi did not predict mining pools as they are conceived in 2018's reality. He was wrong in many things. His code was pretty bad and used Windows. Also "he" was probably a team that put together already existing technology into that badly writen code. Now we have to hear complete idiots making a cult of out it. In any case, it's funny hearing cashies when the whitepaper itself defines Bcash an altcoin, to quote it: "The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it." You already know what that is.
If there is no consensus you fork into an altcoin (bcash, bgold..etc)
The best video