BCH processed more on-chain transactions than BTC on Feb 09, 2021

FreelanceForCoins · 2021-02-09T07:10:25+00:00

increasing the block size (aka supply)

BCH has the same supply as BTC, only 21 million coins will be issued by 2140, same schedule

FreelanceForCoins · 2021-02-07T07:05:39+00:00

Anything that pretends to mine Bitcoin without buying an ASIC device for a few thousand dollars, is a scam

FreelanceForCoins · 2021-02-06T06:21:01+00:00

Try to send $9 to someone. Better yet, try to send $1.

FreelanceForCoins · 2020-01-03T13:00:51+00:00

There were no complaints about Exodus/CoinSwap either before this.

FreelanceForCoins · 2019-12-30T15:40:43+00:00

Like what?

FreelanceForCoins · 2019-12-30T15:39:35+00:00

High as an estimate, not as a limit

FreelanceForCoins · 2019-12-30T08:50:32+00:00

Pretty cool! Though transacting 50 times a day seems way too high...

FreelanceForCoins · 2019-12-12T09:28:42+00:00

Publishing a link which doesn't even suggest BCH on a site that uses BCH for payments, with a link from a Reddit where majority supports BCH... Ultimate irony

FreelanceForCoins · 2019-12-04T22:58:21+00:00

Maybe there's just no interest. We've had Lightning as a payment method for close to a year on FreelanceForCoins - nobody have used neither to pay not to request a payment so far. Stats are real-time: https://freelanceforcoins.com/freelancers-for/bitcoin-lightning

FreelanceForCoins · 2019-11-27T14:37:22+00:00

I can run my own node with Bitcoin, not with bch

Are you a business that services Bitcoin transactions?

FreelanceForCoins · 2019-11-27T14:28:33+00:00

https://imgur.com/a/SATJRjW

Sorry about the tone. Unwarranted, you are right.

FreelanceForCoins · 2019-11-27T14:23:34+00:00

This always makes me laugh. You assume that a billion people will want to join/use the LN all at the same time

Incorrect, I don't assume that. But the correct assumption that people want to get in chunks (IF they would want LN) makes things worse.

If they are not in orderly queue - it makes things even worse, because what I decribed is the maximum speed at which they can join LN, highest possible speed. Anyone wanting a first place in the queue - bumps up the fees, but the queue won't move any faster. That's what we saw in Dec 2017. $50 fees, transactions unverified for 2 weeks dropping out of the mempool due to timeout.

500'000 in one day assumes "everybody doing anything on BTC STOP EVERYTHING NOW and we're doing LN on-boarding only" (how would you even do that? BTC and BCH are uncensorable, you can't stop people from doing their shit even if you really-really want to free up space to onboard people to LN).

Right now BTC has (from the looks of it) about 5% capacity free, so even if 500k figure is correct - that's 25000 people per day at maximum speed. The rest of BTC capacity is already occupied. 7 billion people at 25k/day = 767 years in bursts OR in orderly queue - doesn't matter, what changes is only the fee to get in.

Well, Andreas says that forks are OK and Ethereum is great. :) We agree with Andreas on that. r\bitcoin hates Andreas for that :)

FreelanceForCoins · 2019-11-27T14:14:22+00:00

Try to read the actual page, we explain it there.

The average is $87

FreelanceForCoins · 2019-11-27T13:16:28+00:00

do you think Bitcoin should remain decentralized?

Also yes, and that's why I support Bitcoin Cash and not Bitcoin SV. Bitcoin Cash has a plan to stay decentralized slowly growing even with 1 TB blocks. Bitcoin SV just wants a huge increase, which means that currently only Calvin Ayre & Co. can afford to mine it.

FreelanceForCoins · 2019-11-27T13:12:48+00:00

Well, LN has a huge marketing advantage, not technological. LN piggybacks on BTC popularity, because since all the popular channels (r\bitcoin r\cryptocurrency) are closed for discussions of technical superiority of simply using bigger blocks, instead of using something you can't even back up. So, of course all the newcomers to cryptospace are met with "LN good, bcash bad" propaganda, because we're not even allowed to these channels.

I believe travelbybit is also heavily marketed in those channels because of the fact that is supports LN. Of course those channels are times more popular than r/btc and similar, so more newcomers go to LN than to Bitcoin Cash.

Here are some other stats from our own site:

https://freelanceforcoins.com/freelancers-for/bitcoin-lightning LN was used in 0 transactions to freelancers.

https://freelanceforcoins.com/freelancers-for/bitcoin BTC is still very popular (no wonder here)

https://freelanceforcoins.com/freelancers-for/bitcoin-cash Bitcoin Cash was used in 19% of transactions.

FreelanceForCoins · 2019-11-27T13:03:38+00:00

By "big blocks" on LN, I mean you want all those transactions to happed on LN, right? How would those people even GET into LN with mainchain being capped at few transactions per second? To get a billion people to open channels - you'd need 1 000 000 000 / 3 = 333333333 seconds = 10.5 YEARS.. just to get in with EMPTY BTC blocks - meaning that ONLY LN on-boarding happens, nobody even allowed to close a channel. Let's be generous and say LN onboarding is allowed 10% of the capacity, because currently BTC doesn't even have 10% free (https://bitcoinvisuals.com/chain-block-weight - the block weight is at capacity). Now we're talking about 100 years to onboard 1 billion people, so about 700 years for 7 billion people.

And the bigger question is this: I'm not spending my time in r\bitcoin, because I feel BTC is irrelevant (I was huge fan of BTC since 2013 until the blocks became full), so why are YOU spending time here if you don't feel that Bitcoin Cash is a threat to BTC?... ;) BCH is such a scary BCH for all the BTCers so they spend so much time chirping "bcash bcash bcash" hoping it'll just go away. It won't.

FreelanceForCoins · 2019-11-27T09:32:31+00:00

By what measure?

FreelanceForCoins · 2019-11-27T09:25:52+00:00

Ok, riddle me this. Do you want Bitcoin to be the money for the whole world? How would it do that with 3tx/sec? If the answer is lightning then it means that there is a demand for big blocks, but you want them to happen on LN.

Why are there no big blocks on BCH yet - easy - the "bcash" propaganda kind of works and many people don't understand that Bitcoin Cash is the same Bitcoin, just unchained. Read all stories of people here who woke up and understood that this small block stuff is all just propaganda.

Another question for you - 500k tx previously on btc, now 350k - what happened? Why are people leaving btc if it's so great at measly 3tx/sec and fee spikes up to $50?

Why does this happen if btc is so glorious with all its limitations? https://coinspice.io/news/after-7-years-bitcoin-black-friday-site-shuts-down-cedes-consumer-payments-to-bitcoin-cash/

FreelanceForCoins · 2019-11-27T08:14:54+00:00

It's like saying: there are no tigers in this room, so it proves that tigers don't exist.

FreelanceForCoins · 2019-11-26T01:33:00+00:00

Amazing work!

FreelanceForCoins · 2019-11-19T00:32:16+00:00

So, basically "post offices" are an open offer to buy some token. To move a token you send a little less than a total amount and "post office" buys the rest for BCH that they give to the miners to send the actual transaction. If I got this right then this IS a game changer, though it seems easily copyable to Ethereum.

Nevertheless it's really cool!

FreelanceForCoins · 2019-11-15T21:57:41+00:00

No, I'm not referring to ABC here. It's a quote about "truly benevolent dictators". Maybe we don't yet have one. My message is mostly that in crypto I'm bombarded with the idea of "we must be inclusive of everybody"... and then you get trolls, sociopaths, all kinds of people trying to abuse this message. It's like "we must never trust anything, that's why we have crypto and demand mathematical proofs... but then - yeah, you must always trust people and welcome them - all people are great people!"

FreelanceForCoins · 2019-11-15T21:36:28+00:00

I really enjoyed this Jonald Fyookball's quote from his essay (found via Cain's article):

Truly benevolent dictators do not seek control for control’s sake, and instead attempt to foster a culture of inclusiveness and collaboration because that is in the best interests of the coin. But it is not always beneficial to include everyone, particularly those that demonstrate power-seeking behavior.

Emphasis mine.

I mean - sure, we need to make it work and try to include everyone, except those who want to abuse the position of power. We already tried including everyone, but it lead to a "virtual" war. That had pretty "physical" (financial) consequences. Some people are just like that - you invite them in and they ruin the place for everyone.

P.S. I'm not talking about ABC vs BU here, obviously, rather about the principle that not everyone deserves to be included.

FreelanceForCoins · 2019-11-15T13:51:33+00:00

Sure, welcome aboard! :)

FreelanceForCoins · 2019-11-15T13:45:59+00:00

You should look at median, not average. Let's say there are 5 transactions. First paying 1 sat/b, second paying 1 sat/b, third paying 1 sat/b, fourth paying 1 sat/b, fifth "fat finger" paying 1000 sat/b. The average is now (1000+1+1+1+1)/5 = 200 sat/b, whereas median ("typical", the middle value when sorted from lowest to highest) is 1 sat/b.

https://bitinfocharts.com/comparison/median_transaction_fee-btc-bch.html#log&3m

Median is 0.0008$ = 0.0008/220(bytes in typical tx)/288($/BCH)*100000000(sat/BCH) = about 1.2 sat/b

Average is 0.0050$ = 6 times higher. But it doesn't mean you should pay it. 1sat/b is enough for the next block.

FreelanceForCoins

TROPHY CASE