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    Friday, December 22, 2017

    Home Unlabelled BTC Gavin Andresen: "Right now, there are over 1MB of BTC transactions paying a fee of more than 1,000 satoshis/byte waiting for confirmation. So next-block-or-two confirmation for a median-size transaction will cost you about $38."

    BTC Gavin Andresen: "Right now, there are over 1MB of BTC transactions paying a fee of more than 1,000 satoshis/byte waiting for confirmation. So next-block-or-two confirmation for a median-size transaction will cost you about $38."

    December 22, 2017

    BTC Gavin Andresen: "Right now, there are over 1MB of BTC transactions paying a fee of more than 1,000 satoshis/byte waiting for confirmation. So next-block-or-two confirmation for a median-size transaction will cost you about $38."

    Gavin Andresen: "Right now, there are over 1MB of BTC transactions paying a fee of more than 1,000 satoshis/byte waiting for confirmation. So next-block-or-two confirmation for a median-size transaction will cost you about $38."

    Posted: 21 Dec 2017 03:40 PM PST

    PSA: It's faster and cheaper to get the private key delivered by FEDEX than making transactions on the Bitcoin network

    Posted: 21 Dec 2017 11:34 PM PST

    TABGATE==> the astroturfing/hired shills scandal. Adam Back let it slip he hires full-time teams of social media shills/trolls. Just read!

    Posted: 21 Dec 2017 08:45 PM PST

    Reminder: Blockstream CEO admitted Bitcoin's absurdly high fee was part of the plan so Blockstream could profit, "side chains won't really solve scaling".

    Posted: 21 Dec 2017 05:04 PM PST

    Admitted by Blockstream CEO, Adam Back.

    https://www.forbes.com/sites/laurashin/2017/10/23/will-this-battle-for-the-soul-of-bitcoin-destroy-it/

    Blockstream plans to sell side chains to enterprises, charging a fixed monthly fee, taking transactions fees and even selling hardware - a fact that has caused the big blockers to protest that Blockstream and the engineers it employs who are also Bitcoin core developers want to keep the block size small so Blockstream can profit.

    Here is the good part:

    Back says this isn't true because, beyond a certain point, side chains won't really solve scaling.

    These Blockstream fucks don't even believe LN will scale, they're just hiring PR sweatshops to shove bullshit down people's throat to buy time for their "Liquid" side chain service.

    From the author:

    https://twitter.com/laurashin/status/923302335731843072

    Laura Shin‏Verified account @laurashin Replying to @CarpeNoctom

    I got that info from Adam Back himself. He's quoted throughout the story. @adam3us

    submitted by /u/Gregory_Maxwell
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    Shapeshift: "Sub-$100 fees unadvisable on BTC." Core supporters: "Implement Segwit already!" Shapeshift: "We did. We're the biggest user of Segwit."

    Posted: 21 Dec 2017 04:20 PM PST

    Greg Maxwell uncorks the champagne to celebrate full blocks and high fees!

    Posted: 21 Dec 2017 03:01 PM PST

    /r/bitcoin for years: No altcoin discussion, have a ban! /r/bitcoin now: use Litecoin if you actually need to transact!

    Posted: 21 Dec 2017 12:43 PM PST

    The Bitcoin subreddit reaches new levels of hypocrisy every day. The hypocrisy is going to the moon.

     

    The mod team bans users massively for discussing Bitcoin XT, Bitcoin Cash, or any type of hard fork on-chain scaling solution because they are "altcoins".

     

    Now they are recommending people use Litecoin and other literal altcoins because Core has destroyed the functionality of Bitcoin, just as predicted for the last several years by everyone sane. They are liars who hate Bitcoin, and it's all so completely obvious.

     

    Let's continue to make it obvious to everyone in the world. Truth and objective facts are on the side of Bitcoin Cash like never before! Keep fighting the good fight! Educate people and grow adoption and comprehension of Bitcoin Cash in your sphere of friends, family, and acquaintances. Everyone can do their part!

    submitted by /u/dlaregbtc
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    Bitcoin.com (promoting BCH) is now a top 1,000 website in the USA!

    Posted: 21 Dec 2017 01:27 PM PST

    Shapeshift advises not to do sub $250 transactions, $70.92 TX fee.

    Posted: 21 Dec 2017 10:22 PM PST

    Bitcoin Core Mempool Roller Coaster Guy

    Posted: 21 Dec 2017 10:10 PM PST

    That's it, I sold it all

    Posted: 21 Dec 2017 08:19 PM PST

    I sold all my BTC. I'm done. The tx times and fees are a problem. I've invested in BCH. At least this seems to have a future. Ignoring the problem won't make it go away. Glad to see someone has vision.

    submitted by /u/xaomein
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    A dedicated Bitcoin Cash node was born today. Proudly serving you from Toronto, ON Canada

    Posted: 21 Dec 2017 03:18 PM PST

    I know we're trying to avoid turning this place into a trashy meme cesspool, but i couldn't help myself.

    Posted: 21 Dec 2017 04:24 PM PST

    So let me get this right. A sea of red..........with an infinite supply altcoin made by the banks being the only green? LOL.

    Posted: 21 Dec 2017 06:11 PM PST

    You can now store a year's worth of continuously full 8MB blocks for the cost of a single BTC transaction

    Posted: 21 Dec 2017 04:20 AM PST

    BTC Block 500439 contains 13.01 BTC worth of tx fees, exceeding the 12.5 BTC Block reward. That is approx $200k USD in fees per block.

    Posted: 21 Dec 2017 01:04 PM PST

    Backpage drops Bitcoin Core. Only options for paid ads are now LTC and ETH.

    Posted: 21 Dec 2017 05:13 PM PST

    That Word, "Bitcoin," I Do Not Think It Means What You Think It Means

    Posted: 21 Dec 2017 10:40 PM PST

    He walked right into that one...

    Posted: 21 Dec 2017 07:23 AM PST

    Erik Voorhees on Twitter: I'm done with scaling discussion. I'm not done calling out bullshit in the industry when I see it.

    Posted: 21 Dec 2017 08:14 PM PST

    Change of narrative guys.. Gemini doesn't use segwit, move on to bitstamp..

    Posted: 21 Dec 2017 03:06 PM PST

    So now that core maximalist have discovered Gemini doesn't have segwit supported, they're asking those who just transitioned from Coinbase to move their btc to bitstamp. $50 - $28 Gemini - 35 bitstamp? Won't that wipe off newcomers confidence in btc?

    http://np.reddit.com/r/Bitcoin/comments/7lbfjm/contrary_to_popular_belief_gemini_does_not/

    submitted by /u/markpsp
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    Reminder: Bitcoin Core never expected fees to go over $0.1, but everything changed after the bankers took over.

    Posted: 21 Dec 2017 04:51 PM PST

    This is from Bitcoin.org.

    Evidence of Core never expected fees to get anywhere as high as what we have today, even $0.15 was considered absurdly high.

    https://bitcoin.org/en/bitcoin-core/capacity-increases-faq

    http://archive.fo/2YDSe

    David Harding provided a table of estimated savings at various fee/transaction levels.

    That is, if the fee for a typical 250-byte transaction is $0.01 USD, using segwit will save about $0.003 when spending a P2PK-in-P2SH transaction output.

    Transaction Bytes saved $0.01/250B $0.05/250B $0.25/250B $1.00/250B
    P2PK-in-P2SH 79/107 $0.003 $0.015 $0.079 $0.316
    1-of-1 P2SH multisig 83/112 $0.003 $0.016 $0.083 $0.332
    2-of-2 P2SH multisig 163/219 $0.006 $0.032 $0.163 $0.652
    2-of-3 P2SH multisig 189/254 $0.007 $0.037 $0.189 $0.756

    (We don't expect fees to get as high as the highest seen in this table; they are just provided for reference.)

    Newbies don't realize the Core team today is not the original Core team, Core has been taken over by bankers.

    After bankers took over Bitcoin's development, the new story is that Bitcoin is "Digital Gold", you're not supposed to actually use it, so it's ok to stick with 1MB blocks to force people to pay $10-$100 and wait hours or days to move $1.

    Bitcoin.org used to belong to Satoshi, now taken over by the bankers, luckily Bitcoin.com still remains true to Satoshi's original Bitcoin vision of fast confirmations and $0.01 fee, Satoshi's vision will live on through Bitcoin Cash.

    submitted by /u/Gregory_Maxwell
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    Bought first BCH on coinbase

    Posted: 21 Dec 2017 10:24 AM PST

    Ive started tipping redditors in other subs, the positive responses have been incredible! I urge other to do the same! Spread the word!

    Posted: 21 Dec 2017 04:05 PM PST

    It’s been almost 4 years since I started, got Gox’d along the way, sure, badge of participation ;) but I’m now 0% BTC and it feels great...

    Posted: 21 Dec 2017 08:43 PM PST

    100% BCH of course, bring on the future! ;)

    submitted by /u/megability
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