MISC Crypto Crew (MCC) Vol.3 Fork it ...im all in!

[Witrebel]

Yes, but there would be a new currency that isn't BTC right? And I guess that would just take the value and BTC would fall. That's what BCH advocates are saying is/will happen.

Nope, just a fork in the chain. If something like 5% of nodes run the old BTC chain and don't update to the newest revision, you wouldn't call that revision BTC just because it was older, you would call the 95% BTC. So its all about what the nodes do, with extreme emphasis on what the nodes ran by exchanges do and what the nodes ran by miners do. If you have a raspberry pi running a node, you get a vote, but its a VERY small vote because you don't contribute much to the overall economy, especially if you don't mine.

These contentious forks just get different names because they are different development groups with vastly different ideas about key features. If the Bitcoin Core devs decided to support 8mb blocks and all relevant parties agreed, they would just release a new revision of the bitcoin client and everyone would signal support and pick an adoption block, bang, she forks, and no one knows the difference

[WinningBrah]

i would only get into bch if i got in early or the fork coins. its going to take a lot to unseat btc

not to mention if its even close you know btc pundits are gonna come in and fuk with it

BCH is currently about 1/7th the market cap of BTC, including all the madness that's happened today. It could make a lot more gains and still not overtake BTC

[TruKnight]

yep saw this comming. glad I reduced my alt holdings during that pump, 5k here we come, my buy orders are set, lets go!

and bcash can go fist itself, that chitcoin needs to die, its threatening everything.

[XPmpnII]

I would be eyeing up some good and popular alts that have taken the biggest hit from all this FUD and BCH drama, boyos... be patient and just sit and wait for gains

certainly not a bad route to take

[propreffered7]

BCH is currently about 1/7th the market cap of BTC, including all the madness that's happened today. It could make a lot more gains and still not overtake BTC

definitely, and its shift in volume is a red flag with all of the uncertainity regarding what happens to btc

id definitely cash out at some point now

[XPmpnII]

I think people FOMOing into BCH right now are gonna get burned if they're not careful I'm afraid

[Mythenthefang]

https://github.com/elastos

Will use Bitcoin as the parent chain, strategic partnership with NEO (i'm speculating that they need NEO's infrastructure to register assets and IDs etc - i'm not a compsci brah though so if you have better insight please share it with us).

The whitepaper states they will generate new blocks of the platform's currency annually (literally inflation) which has me slightly nervous. The dev team seems to be under the misapprehension that currencies need to inflate.

But still, decentralized internet and smart economy is on the way

If you're not writing notes to tell your grandkids about the coming years I feel bad for them

[Luc1fer]

I think people FOMOing into BCH right now are gonna get burned if they're not careful I'm afraid

There is so much FUD articles right now about BTC dying.

[ineed$]

Time to get into good alts will be soon I think

which ones? Everything has fallen, even smartcash by 4%

[ineed$]

I would be eyeing up some good and popular alts that have taken the biggest hit from all this FUD and BCH drama, boyos... be patient and just sit and wait for gains

certainly not a bad route to take

sounds good brah, where u been?

I think people FOMOing into BCH right now are gonna get burned if they're not careful I'm afraid

THIS, now Im tryin to figure out which top price I want to get out of BCH. I dont want to miss the top like last time.

There is so much FUD articles right now about BTC dying.

cliffs on anything new?

[WinningBrah]

https://www.coindesk.com/bitcoin-cla...2x-suspension/

[ineed$]

lol read both articles

https://cointelegraph.com/news/bitco...le-in-6-months


also arab said BTC was scam and got cucked hard....

[Aesthetical]

I fomo'd into BCC

Currently above my buy in, might just dip out while I'm ahead.

My heads all ****ed up, I won't have internet access for 8-10 hours a day and anything can happen.

Guess I'll ride or die with BTC

If it dies it dies

[Luc1fer]

These contentious forks just get different names because they are different development groups with vastly different ideas about key features. If the Bitcoin Core devs decided to support 8mb blocks and all relevant parties agreed, they would just release a new revision of the bitcoin client and everyone would signal support and pick an adoption block, bang, she forks, and no one knows the difference

"The reason bitcoin core has not changed is because it cannot get 95% consensus to change. I like that. Unless virtually everyone agrees it will stay the same."

So it's 95% or is that just a rough number?

Now I understand this a bit better, I'm more convinced BCH will crash.

[SleeveStretchin]

I fomo'd into BCC

Currently above my buy in, might just dip out while I'm ahead.

My heads all ****ed up, I won't have internet access for 8-10 hours a day and anything can happen.

Guess I'll ride or die with BTC

If it dies it dies

this

[Witrebel]

"The reason bitcoin core has not changed is because it cannot get 95% consensus to change. I like that. Unless virtually everyone agrees it will stay the same."

So it's 95% or is that just a rough number?

Now I understand this a bit better, I'm more convinced BCH will crash.

I don't know if 95% is hardcoded, stated, or just a good rule of thumb due to game theory. Just know thats the benchmark for consensus I've heard.

The thing you need to remember is that miners aren't just concerned with the price of the coin, they are concerned about price vs difficulty. Just because BCH cost less, doesn't mean its not massively easier to mine. So its more profitable. Nodes with no miners are not a secure network, so what the nodes say is not nearly as important as what the miners say. Miners are the ones burning massive $$$ daily into the electrical grid, they keep this wheel spinning. Bitmain is one of the major if not THE major ASIC provider, and they are backing BCH, they are only accepting BCH for purchase of new miners if I understand correctly. So its really not that hard to envision a scenario where BCH wins over BTC. I won't go so far as saying this is likely. But I wouldn't dismiss it entirely. Miners get a bigger vote than your raspberry pi node, and if miners see BCH as more profitable, they just need to figure out how to get the money to that side of the fence without crashing the market.

[Chargr]

FUK BTC BCC BBC BTC SEGWIT 2X blah blah blah.

FUKKKKK all them FAT Fuks/ end rant

I want my Alts to rise dammit

[ineed$]

looks like its reversing, sold my BCH back into BTC. gn brahs

[MrLurk]

Say BCH/BCC does dethrone BTC. Surely all alts would then just be traded against BCH, so if you're in alts and you believe in them, this doesn't really change much.

[Sh1f7]

FUK BTC BCC BBC BTC SEGWIT 2X blah blah blah.

FUKKKKK all them FAT Fuks/ end rant

I want my Alts to rise dammit

Bro if you are not excited about this flash sale then I have some bad news...

I for one welcome our FUD overlords and bathe myself in alts

[GabrielNovar]

btc not forking= done. Finally we might witness the bubble collapse. Get ready for sub 1k.


if it survives that, it will survive anything

[Contribution05]

I fomo'd into BCC

Currently above my buy in, might just dip out while I'm ahead.

My heads all ****ed up, I won't have internet access for 8-10 hours a day and anything can happen.

Guess I'll ride or die with BTC

If it dies it dies

I went into Crypto with this mind set. I'm riding BTC to the grave or to Pluto. A few alts and ETH as well, but mostly in hopes to increase my BTC stack. Not touching BCH.

[Chargr]

Bro if you are not excited about this flash sale then I have some bad news...

I for one welcome our FUD overlords and bathe myself in alts

Currently looking at REQ, that's the good thing about these big dips, the great Alt sales.

[RespectYourself]

looks like its reversing, sold my BCH back into BTC. gn brahs

Me too. Hope it was the right decision.

Undid my terrible alt coin trades by going into BCH a month ago. Made a lot back.

[WinningBrah]

btc not forking= done. Finally we might witness the bubble collapse. Get ready for sub 1k.


if it survives that, it will survive anything

Sub $1k? U wot m8

[Omnivium]

So much FUD right now. Of course it's gonna come down after that huge bull run, this is what we all expected. It's not the end of bitcoin lol. It always comes back better than ever

[Rambo66]

Bitconnect might be shutting down? https://pbs.twimg.com/media/DOSa60xW4AEXuUB.jpg

If this were to happen that would either screw the ppl holding ethconnect into making it even more obvious it's a scam or have a whole bunch of people jumping over to ethconnect. Either way I still don't mind the gamble with ethconnect.

[Witrebel]

Okay 2 questions for you brahs

1) Does anyone trade from their iPhone, specifically on bittrex. And if so, what app?

2) For anyone who is actively doing TA on BTC, have we already seen the bottom? Are we going to see something closer to 6100?

[Luc1fer]

I don't know if 95% is hardcoded, stated, or just a good rule of thumb due to game theory. Just know thats the benchmark for consensus I've heard.

The thing you need to remember is that miners aren't just concerned with the price of the coin, they are concerned about price vs difficulty. Just because BCH cost less, doesn't mean its not massively easier to mine. So its more profitable. Nodes with no miners are not a secure network, so what the nodes say is not nearly as important as what the miners say. Miners are the ones burning massive $$$ daily into the electrical grid, they keep this wheel spinning. Bitmain is one of the major if not THE major ASIC provider, and they are backing BCH, they are only accepting BCH for purchase of new miners if I understand correctly. So its really not that hard to envision a scenario where BCH wins over BTC. I won't go so far as saying this is likely. But I wouldn't dismiss it entirely. Miners get a bigger vote than your raspberry pi node, and if miners see BCH as more profitable, they just need to figure out how to get the money to that side of the fence without crashing the market.

Seems like a perverse incentive - the coin that's most profitable to miners wins, not necessarily the best one.

[Witrebel]

Seems like a perverse incentive - the coin that's most profitable to miners wins, not necessarily the best one.

Realize that the whitepaper for BTC came out in like 2009. There was no "other coin". The idea was novel, and the guy (if it was one guy) was a savant, but can we really expect him to have made EVERY choice for us from day one, and correctly? 1Mb blocks... kludge to keep the network bandwidth requirements in check. POW algorithm, probably the most secure, but maybe not most efficient. He probably viewed this all as an experiment. The entire point of consensus is to allow democratic change. Unfortunately some elements are baked into the brand identity, and thus will be hard to change.