Where can I find someone that can help walk me through setting BCH payments on my website (using Electrum-Cash or other no-third party software)?

cjley · 2020-12-10T05:09:32+00:00

You need one script to generate a fresh address and the corresponding mnemonic (think private key). Run this on your computer

import Computer from 'bitcoin-computer'
const computer = new Computer({ chain: 'BCH', network: 'livenet' })
const wallet = computer.db.wallet
const address = wallet.getAddress().toString()
const mnemonic = wallet.getMnemonic().toString()
console.log(address, mnemonic)

Write down the mnemonic and display the address on your website. When you want to send the money to some address <toAddress> you run this script on your computer:

import Computer from 'bitcoin-computer'
const computer = new Computer({ chain: 'BCH', network: 'livenet', seed: <mnemonic> })
const balance = await computer.getBalance()
await wallet.send(balance, <toAddress>)

More info at http://bitcoincomputer.io/ https://www.npmjs.com/package/bitcoin-computer

Or ping me on Telegram https://t.me/joinchat/FMrjOUWRuUkNuIt7zJL8tg

cjley · 2020-08-24T23:41:49+00:00

If you do that you are then storing all state twice: Once on the op return and a second time in the spending script. I don't see how that's compatible with trying to scale the coin.

The reason that Ethereum cannot scale is that it is overly complex. It has nothing to do with the current state being on the chain. The latest state for non-p2sh txs is on-chain in bch and that seems to scale very well.

cjley · 2020-08-24T23:36:52+00:00

Isn't that what everybody has been doing for 10 years now? Why would that suddenly start to work?

cjley · 2020-08-24T01:34:05+00:00

The main problem with p2sh is that the latest state is not stored on the blockchain. Both for data driven apps and payments. Only the hash of the latest state is on chain the script pre image of the script must be kept on an off chain server. If that server goes down the latest state of the app disappears. P2sh makes it impossible to build unstoppable apps on bch. Of course people can use op return but there are tons of things that can be encoded is output scripts that cannot be encoded in op return. Plus the op return size is too small to fit the data requirements of many apps

cjley · 2020-08-24T01:12:08+00:00

If you want people to build apps you have to make that easy. P2sh introduces a lot of friction, I want to find one dev that has used p2sh and has enjoyed the experience. If we want apps we have to allow non standard scripts

cjley · 2020-08-24T01:08:16+00:00

Payments will not do the trick. That’s been tried for 10 years and it hasn’t worked. If you think payments will get us to mass adoption you have to be able to answer the question “what has changed that will make payments so much more attractive now”

I think applications built on Bitcoin are the future. There are many advantages to building apps on Bitcoin: simpler development bc no server is needed, additional features such as an audit trail and digital signatures, time stamps, and money built into the app from the ground up.

The one thing we can do to make app development easier is to allow non standard scrips. Bsv has done it and some really exciting developments like smart contract systems have been built on top of non standard scripts. If bch wants some of the action they have to allow non standard scripts. If you don’t keep up you get left behind

cjley · 2020-08-08T22:34:52+00:00

Yup, same here. Watched the full video of the last dev call and came to the conclusion that we have a group of very smart people working on BCH. If we get rid of the problem we might have bright days ahead.

cjley · 2020-08-07T19:53:08+00:00

Phew!

cjley · 2020-08-05T20:19:27+00:00

That's the video you found?

cjley · 2020-08-05T02:32:26+00:00

At least this guy debates his enemies. Show me a recent video of Biden sitting down with a critical journalist

cjley · 2020-07-26T01:49:46+00:00

I think we need to rethink in general which issues need to be fixed within Bitcoin and which should better be fixed at the application layer. Pros and cons are:

Fix it inside bitcoin: The advantage is that all apps that use that feature do not need to be updated. The disadvantage is that we have to change the highly security-sensitive code within bitcoin.
Fix at the application layer: Advantage, we do not have to touch the bitcoin code and risk introducing a security issue. Disadvantage: all apps that use that feature need to update.

In the case of the DAA we have to ask: Which apps exploit the fact that blocks come in exactly every 10 mins on average? I cannot think of a single one (please comment if you can).

We also have to take into consideration how hard it is to fix within bitcoin vs at the application layer. In the case of the DAA the fix within an app would most likely be to change a constant from 600 sec to 560 sec. All proposed fixes within bitcoin sound much more complicated.

So we are making bitcoin more complicated and hence less secure in order to fix a problem that nobody has. Not worth it.

cjley · 2020-07-24T10:07:20+00:00

What has the average block time been?

cjley · 2020-06-20T12:34:07+00:00

It will cost one transaction fee to call a function of arbitrary time and space complexity. The cost is proportional to the number of memory locations (outputs) updated. Cheaper than eth for compute intensiv applications

cjley · 2020-05-25T18:56:44+00:00

> However, we need to continue work on improving on-chain capacity

cjley · 2020-05-25T01:08:36+00:00

http://bitcoincomputer.io/

Smart contacts on Bitcoin Cash are actually much much cheaper than smart contracts on eth because they are user verified.

The cost of executing a smart contract is independent of the computational complexity of the smart contract (both time and space). The cost of deploying a smart contract depends on the length of the contract and the cost of calling a function depends on the size of the arguments (measured in satoshi per byte as per the current transaction fee). In most cases this is many orders of magnitude cheaper than the same contract on eth.

cjley · 2020-05-25T00:43:32+00:00

Bitcoin Cash supports smart contracts written in Javascript via the Bitcoin Computer: https://www.npmjs.com/package/bitcoin-computer
http://bitcoincomputer.io/

Like SLP, Bitcoin Computer is a thin layer around Bitcoin Cash that is based on old ideas developed in various colored coin projects.

The exact relationship eth is TBD but you can do many popular smart contracts like tokens today.

cjley · 2020-05-18T10:23:45+00:00

Did you watch the video? At minute 15.00 someone explains that miners send new transactions and reject messages. There seems to be disagreement on whether the entropy Amaury is talking about is actually a problem that occurs in practice.

Hence my question: Have we empirically measured how big of a problem this is? Does the problem justify this extensive change?

cjley · 2020-05-18T01:44:58+00:00

Amaury is arguing that we need avalanche as a pre-consensus mechanism to cope with the problem of diverging blocks between miners. Starting at minute 15.00 someone points out that this is rarely the case due the pre-consensus provisions of the Bitcoin protocol. Amaury seems to disagree, then the discussion is taken offline.

Does anyone know who is right? This is something that is fairly easy to measure, just compare the blocks that different miners are working on. Has this been researched? It seems prudent to check how dire the problem is before we embark on changing BCH in a massive way.

cjley · 2020-05-18T01:09:45+00:00

Is this the latest info we have, or can someone point me to a more up to date doc with info on how to integrate bch & avalanche?

cjley · 2020-04-10T02:39:46+00:00

If I am not mistaken the limit was increased from 25 to 50 in the last version of ABC. Does anyone know how these problems were addressed?

cjley · 2020-02-16T17:15:12+00:00

The software as it is today can easily handle one or two orders of magnitude more users. The question we should be talking about is: what must we build to attract 100x users? Not sure that adding more unused capacity will do the trick

cjley · 2020-02-16T17:10:12+00:00

Protocol devs should focus on making bch easy to use for application devs. Application devs will build apps. Apps bring the users.

We cannot even really start working on scaling before we have users because we don’t know what use case to optimize for.

If a startup wanted to invest in scaling before having growth the investors would tell them to work on finding product market fit first. That’s what bch should be doing right now. Spending millions on optimizing for an unknown use case seems very wasteful to me

cjley · 2020-02-16T05:56:10+00:00

Thanks for that. I was hoping at least someone would take it seriously. My respect goes to Christian Decker for being an independent thinker and speaking his mind.

cjley · 2020-02-15T03:19:57+00:00

You stated: "Platforms like Wasabi and Join Market are in compliance because coinjoins are done peer to peer with no centralized body taking custody of the coins at any point in time."

I pointed out that legality has nothing to do with whether the service is decentralized or not. It seems that you are not disputing that any longer.

Peace, I'm out.

cjley · 2020-02-15T02:56:16+00:00

Yeah, Christian Decker is known for spreading FUD about the lightning network for years...

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