BTC RIP Tim May

The current value of daily block rewards is $138,947.8 USD and the hash rate is 0.95Ehash/s (source).
What the attacker needs is ~1.5-2Ehash/s for a few hours, which should be possible to rent for <$1M.

Preparation: connect to as many nodes as possible, in the same manner that reizu used to double spend on BSV.

The attack: starting from block X, mine 11 blocks in parallel to the 'true' chain and keep them secret. Then, mine on the public chain until we know a (second) valid parallel chain with 11 blocks after X before the public network (it can include blocks mined by others).

Now, release one chain to half of the nodes and another to the other half. The network will permanently split because block X+1 is going to be buried under 10 blocks on both chains.

Ideally, the attack would split the hash rate in half, so subsequent attack on one of the split networks would be much easier.

This is much more dangerous than a simple 51% attack, because the defense against a 51% attack is to increase the number of confirmations. This attack would require manual intervention to fix on at least half of the nodes.

submitted by /u/nootropicat
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[experimentation] It would be fairly cheap and easy to fill up a 32MB BCH (or BSV) block

Posted: 15 Dec 2018 10:17 PM PST

Running my "spam" software I was able to fill block 561026 with over 3,200 transactions (~0.6MB) in <10m

So assuming a 10m block time, to fill a 32MB block, we would require:

~64 nodes running this software
Each of the nodes possessing 160 spendable (i.e. confirmed in a block) inputs of 0.00025 BCH apiece

(0.00025 BCH per input * 160 inputs per node = 0.04 BCH per node) * 64 nodes = ~2.56 BCH to fill a 32MB block

Current BCH price of ~$81 * ~2.56 total units required = ~$207 to fill a 32MB block

Current BSV price of ~77 * ~2.56 total units required = ~$197 to fill a 32MB block

Split between 64 people that's less than $4 per node to contribute to a full block for either chain :)

Of course, in practice we would require more BCH as variance could cause a block to be mined before the block is completely filled. Variance alone would be enough to throw off the test for 1-2 blocks minimum. Each of the 160 inputs wouldn't be depleted after the 1 block, so it might be enough to last for 2-3 blocks.. perhaps somebody could help with this math since I'm too tired to do it right now lol :)

Why would we want to do this?

Well, it's been a while since we've made the network shit itself, and a lot of improvements have been implemented in the time that has passed since. It is worthwhile to test these improvements on the mainnet to see if previous bottlenecks have been resolved. Plus, with the BCH price so cheap, the financial impact on users is heavily reduced than the previous September 2018 stress test.

Also, this would simulate real cash velocity, with each transaction being broadcasted to each node on the network as though humans were sending the transactions themselves. Compared to BSV's ~~shadow-mined~~ 32MB blocks of non-broadcasted transactions from around the time of the 11/15 fork, this would be a more realistic test of the network's capability to handle the transaction load, as well as a full 32MB block.

Interested to hear your thoughts

submitted by /u/maff1989
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BCH-Based Openswap Client Will Feature Trustless Atomic Swaps

Posted: 15 Dec 2018 07:38 PM PST

submitted by /u/Bitcoinmathers
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One more piece of evidence that Honest Cash is serious about transparency and censorship resistance

Posted: 15 Dec 2018 07:29 PM PST

submitted by /u/distributed_nomad
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2013 vs 2018 crash = someone who faced the 2013 crash

Posted: 15 Dec 2018 12:14 PM PST

copying from r/ethtrader , ( not relating to bch , but still )

https://www.reddit.com/r/ethtrader/comments/a65s7h/who_was_here_and_survived_the_last_big_crash_in/

-----------------------------------------

I was there.

Last time was way way worse, there were actual reasons to worry. Trading was severely centralized in Mt. Gox and it being run as a fractional reserve put the entire market into question.

Was also there during the DAO hack, the first few days were very concerning. I thought seriously of selling my Ether. After reading a lot and understanding the problem from a technical perspective I ended up buying more Ether. The way it was handled made me understand that the Ethereum community was something else and that the Ethereum Foundation had the right leadership and principled approach to make the project succeed.

This time I see not much reasons to be concerned. Tech keeps progressing and in the right direction, the fundamentals are much better than they have ever been.

Here is what I see, a few disordered thoughts written from my phone:

Crypto enthusiasts are rather young and with that comes impatience. How wouldn't they?! 4 years is almost 25% of their existence. So seeing how the tech progresses slower than expected can discourage many.

Most people have not worked in large-scale and difficult research projects, estimating deadlines is pretty much impossible. It will always be finished later than your worst estimations. And that can discourage the not so young ones. I think the Ethereum researchers made a rookie communication mistake promising deadlines.

The markets got veery far ahead of themselves, propelled by some likely manipulation (the whole USDT always smelled like shit to me and still don't trust it) and market mania that attracts the get rich quick types. A correction was more than necessary.

There is an eerie feeling of recession in the air. The financial market as a whole are nervous, capitals flight riskier investments first. Crypto bubble poped, next went the emerging markets... I also expect crypto to recover first and faster, specially if the next crisis is a debt fueled crisis as it seems to be.

The ICO craze is taking a rough one on ETH. People threw money stupidly to unfinished projects for tokens that didn't even grant ownership on the project or its future revenues (few exceptions aside, like that casino that paid dividends). Now those projects are unloading their ETH as their opportunity to cash out on their scams seems to be running thin. This is creating a mispricing as there is more ETH being unloaded on the markets than people ready to buy it. The biggest opportunities to make money are always in situations like these, when the markets are not efficient.

submitted by /u/mohtasham22
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Buying BCH now feels pretty close to buying BTC back in 2014-16

Posted: 16 Dec 2018 01:12 AM PST

If you believe in the tech and the fundamentals practically haven't changed

Ignore the FUD

Buy as much as you can afford to lose

submitted by /u/Mukvest
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Why Bitcoin BCH Matters!

Posted: 15 Dec 2018 06:28 PM PST

submitted by /u/Egon_1
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Travel By Bit (TBB) have pulled Bitcoin BCH from Brisbane Airport while Bitcoin-Cash-Accepted-Here stickers still everywhere - Trade plummets

Posted: 15 Dec 2018 03:56 PM PST

submitted by /u/where-is-satoshi
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BTC backers, what's the most thorough explanation you can give on why BTC > BCH in your eyes?

Posted: 15 Dec 2018 06:53 PM PST

submitted by /u/Azrk749
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Technologies for Democratizing Power by @christroutner | Honest Cash

Posted: 15 Dec 2018 07:23 PM PST

submitted by /u/distributed_nomad
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Roger Ver increases his Bitcoin BCH holdings

Posted: 15 Dec 2018 09:00 AM PST

submitted by /u/Egon_1
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The Story of OP_CHECKDATASIG

Posted: 15 Dec 2018 12:54 PM PST

submitted by /u/Mengerian
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Trolls be trolling hard today.

Posted: 15 Dec 2018 09:17 AM PST

Is it a outlet for their frustration ? I mean, it got to hurt when you get sold a "store of value' on the back of previous massive gains and then it tanks.

Is coming to /r/btc and posting shit a way of distracting themselves from the fact their coins losing value too ? It's like pointing at someone with a broken down car with steam coming out the radiator and saying "ha ha, your car shit" while you crawl past at 5mph because your own car has the wheels falling off.

Go focus on your own shit and if you want to be angry at someone because the get rich quick shit you bought into didn't happen, well look in the fucking mirror.

submitted by /u/Calm_down_stupid
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What's your argument in favor of BCH?

Posted: 15 Dec 2018 08:08 PM PST

submitted by /u/Azrk749
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Monitor Bitcoin Cash Development With the Coin Dance Tracking Page

Posted: 15 Dec 2018 02:05 PM PST

submitted by /u/Bitcoinmathers
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Stop confusing price and value

Posted: 15 Dec 2018 05:10 PM PST

There are two mentalities in investing: Value Investing vs Technical Analysis.

Why is Roger still holding BTC? Technical Analysis

Why is BCH losing price? Technical Analysis

Why is BCH the real bitcoin? Value Investing

Please stop confusing these things.

TA = short term. VI = long term.

Does TA work to make money? Yes. Does TA measure actual value? No

Arguing that value = price is the same as saying 'buy high, sell low'.

Tone Vays makes this mistake every day. If it weren't for "9s", TA would never be able to turn from bear to bull or vice versa. Obviously a "9" doesn't suddenly give an asset real value, it's only market sentiment.

Huawei, the second largest cellphone producer in the world, is a private company. Does it's lack of market volume mean it's worthless? No. Saying that ETH and BCH are "shitcoins" because they don't have trading volume is simply wrong.

BCH will not die because the price is low, the same as Bitcoin didn't die after mtgox bear market.

BTC is not the "real bitcoin" just because it has a higher price.

submitted by /u/braclayrab
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nCrypt/nChain: "The plan was to package it all up and sell it..." All part of the Plan... since at least 2016? And of course the bigger the "package" (including all those that "joined"), the more it can be SOLD for... If the "package" can be sold, to what degree is it decentralized?

Posted: 15 Dec 2018 11:36 AM PST