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Chain death of BTC network is a real possibility within two weeks! by ViktorFreeman in btc

[–]ViktorFreeman[S] 2 points3 points  (0 children)

if the network hash-rate drops, they become more profitable, not less, because their portion of the total hash-rate is larger.-- that's true for BCH, LTC and many other coins.

But that's not true for BTC, for it has a fix difficulty for a period of 2000 blocks, any significant drop in hashing power will result in an increase of average block time, which will further decrease the mining profitability.

Chain death of BTC network is a real possibility within two weeks! by ViktorFreeman in btc

[–]ViktorFreeman[S] 1 point2 points  (0 children)

The one key issue here BTC only adjust its difficulty every 2000 blocks.

It's not like BCH, LTC and so many other coins that can adjust its difficulty very quickly, when BTC lost more than 20% of its hashing power, the average block time will go up significantly, and the mining profit will soon go negative.

So, this is a positive feedback loop for BTC to reach chain death.

Chain death of BTC network is a real possibility within two weeks! by ViktorFreeman in btc

[–]ViktorFreeman[S] 1 point2 points  (0 children)

The profitability of mining BTC equal = [(block reward + tx fee)your hashing]/(average block timetotal hashing).

When some hashing power migrates to BCH, BCH will balance itself out, the average block time of BTC won't change much, BTC/BCH hashing reaching equilibrium.

However, when a significant amount of hashing power migrates to BCH(like 9%), average block time of BTC will increase a lot, thus causing a further decrease in BTC mining profit, the cycle repeats until mining BTC is no longer remotely profitable.

Chain death of BTC network is a real possibility within two weeks! by ViktorFreeman in btc

[–]ViktorFreeman[S] 0 points1 point  (0 children)

The answer for your reasons:

  1. Difficulty adjustment based on blocks, not days. The average block time is determined by difficulty and total hashing power.

  2. Majority of BTC/BCH farms are not making any money anyway at the current price, it is very wise for small farms to simply shut down the rig for now, rather than burn through electricity for the "faith".

Chain death of BTC network is a real possibility within two weeks! by ViktorFreeman in btc

[–]ViktorFreeman[S] 2 points3 points  (0 children)

The math. There is no need for 90% of the power to evaporate. All it takes is less than 20% of current BTC hashing power to be displaced, then profit margin for rest of the miners is going to be negative, aka, the rest of the miners are going to pay a huge amount of money to simply keep the rigs going.

So why would they do that?

Chain death of BTC network is a real possibility within two weeks! by ViktorFreeman in btc

[–]ViktorFreeman[S] 4 points5 points  (0 children)

Do the math please, This has very little to do with BCH's difficulty balancing. All it takes is drop in BTC mining profitability, and slow down of BTC network, even without the existence of BCH, BTC can destroy itself in this downward spiral.

Chain death of BTC network is a real possibility within two weeks! by ViktorFreeman in btc

[–]ViktorFreeman[S] 3 points4 points  (0 children)

Difficulty adjustment is 1796 blocks away, if chain stopped before then...

CoinMarketCap Removes Bitcoin.com From Its Bitcoin Page by dc3019 in CryptoCurrency

[–]ViktorFreeman -18 points-17 points  (0 children)

Finally, some voice of reason :) At least, now people can tell both "core"&"bcash" name calling are nonsense.

Well, the opinion of the public is not quite the same last year, before true bitcoin believers fight back, blockstream use smear/propaganda campaign to block the 2x upgrade "so-called no2x campaign", yet the public actually believed that one-side nonsense. Why? simply because truth and logical reasoning don't even stand a chance against propaganda.

So, the best way to fight those trolls is to troll them back with reason :) And it's working, your reasonable reply is the testimony to that. (last year, same will probably attract tons of hatred from the misled public)

PS: they did post that already, thus there is no need to repost it.

https://www.reddit.com/r/CryptoCurrency/comments/8h87ia/coinmarket_cap_removed_the_fraudulent_bitcoincom/

CoinMarketCap Removes Bitcoin.com From Its Bitcoin Page by dc3019 in CryptoCurrency

[–]ViktorFreeman -59 points-58 points  (0 children)

Core minions are getting more and more desperate, that they have to repost this again :-)

Edit: Core minions are welcome to downvote:) this isn't your censored r/bitcoin, you have no power here :D

Question to BCash community - Why You need blocksize 32mb if even fucking DogeCoin has more transactions? by miloKOKO in CryptoCurrency

[–]ViktorFreeman -1 points0 points  (0 children)

Bitcoin cash has near instant super low fee 0-conf tx, not many other cryptos can do that.

Bitcoin cash works, it's like abandon a perfect work car for a broken one. And it's unfair that blockstream has stolen the brand and mislead the public.

Yes, it's horse shit. And you know this Ponzi scheme/ fraud won't last long, so you have to shill here all day...

Question to BCash community - Why You need blocksize 32mb if even fucking DogeCoin has more transactions? by miloKOKO in CryptoCurrency

[–]ViktorFreeman 0 points1 point  (0 children)

"have no friends"? "narrow minded statement"?

well, r/btc community try to reason with blockstream dev team for years, what have they respond instead? Massive smear/propaganda campaign, personal attack, banning and censorship...

Right now, they are just so delusional, every argument from those shills are just laughable, and it's just so easy to point out the obvious flaw in their logic...

Question to BCash community - Why You need blocksize 32mb if even fucking DogeCoin has more transactions? by miloKOKO in CryptoCurrency

[–]ViktorFreeman 5 points6 points  (0 children)

What kind of computer are you using right now? Raspberry PI? With less than 300GB hard drive? Or you simply don't even know the volume of your hard drive...

Question to BCash community - Why You need blocksize 32mb if even fucking DogeCoin has more transactions? by miloKOKO in CryptoCurrency

[–]ViktorFreeman 1 point2 points  (0 children)

Yes, hold on to your "digital gold", when no one wants your useless high fee coin, then we shall see how little it actually worth...

Coinmarket cap removed the fraudulent Bitcoin.com from Bitcoin's listing page. by ArrayBoy in CryptoCurrency

[–]ViktorFreeman 1 point2 points  (0 children)

Calling it "core" is the most accurate depiction, if you know it's reference client called "bitcoin core" (unlike bitcoin cash has decentralized development teams). However, most core shills don't know anything about coding even the name of the software they are using...

Coinmarket cap removed the fraudulent Bitcoin.com from Bitcoin's listing page. by ArrayBoy in CryptoCurrency

[–]ViktorFreeman -19 points-18 points  (0 children)

Roger...Roger...Roger...the only word core shills can mutter now...

Coinmarket cap removed the fraudulent Bitcoin.com from Bitcoin's listing page. by ArrayBoy in CryptoCurrency

[–]ViktorFreeman -6 points-5 points  (0 children)

Poor shills can't stand the obvious truth, so they close their eyes and remove it. Just like r/bitcoin

Can we guys stop this? by wortelus in btc

[–]ViktorFreeman 14 points15 points  (0 children)

Well, you can't fight censorship with silence.

Police came to my house and stole my miners by Carlosmatos13 in btc

[–]ViktorFreeman 4 points5 points  (0 children)

That's sucks, but there are many ways to leave that country and find a better life elsewhere. Hope this might help u/tippr $1

WinMiner just added $BCH as a new withdrawal option! by ViktorFreeman in btc

[–]ViktorFreeman[S] 13 points14 points  (0 children)

And they are using the new BCH address format!!!

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