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    Cryptocurrency Daily Discussion Megathread - December 30, 2018

    December 30, 2018

    Cryptocurrency Daily Discussion Megathread - December 30, 2018

    Daily Discussion Megathread - December 30, 2018

    Posted: 29 Dec 2018 09:52 PM PST

    Welcome to the Daily Discussion Megathread. Please read the disclaimer, guidelines, and rules before participating.

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    submitted by /u/CryptoCurrencyMod
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    OpenNode turns down $1.25 Million from Roger Ver to include BCH on their payment system.

    Posted: 29 Dec 2018 10:31 PM PST

    In spite of the crypto-market losing over 80 percent of its value "Blockchain developer" is the most in-demand skill in 2018

    Posted: 29 Dec 2018 02:49 PM PST

    For the haters that say, “no ones going to see the Litecoin logo during the fight” google trends say otherwise, also the main fight just started at the time of this post, going to be tracking this over night

    Posted: 29 Dec 2018 09:23 PM PST

    Porsche gets blockchain loan through BBVA’s platform. The company received more than $170 million.

    Posted: 30 Dec 2018 02:43 AM PST

    You can pay with Bitcoin on the Lush website!

    Posted: 30 Dec 2018 03:06 AM PST

    A survey conducted by Panews has found that 14% of Chinese citizens have invested in cryptocurrencies.

    Posted: 29 Dec 2018 07:01 PM PST

    Bitcoin Is The Answer: Paypal Bans Cybersecurity News Outlet

    Posted: 29 Dec 2018 02:56 PM PST

    Crypto advertising on the NY metro

    Posted: 29 Dec 2018 10:14 AM PST

    Bitmain: Chinese Media Reporting Jihan Wu and Micree Zhan to Step Down

    Posted: 29 Dec 2018 08:02 PM PST

    Bithumb Wins Hack Case Court Battle; Judge Rules Crypto Exchanges are “Not Financial Institutions”

    Posted: 29 Dec 2018 08:54 PM PST

    Bitfinex and Ethfinex To Go Offline on 7th January for a Complete Data Migration to New Servers

    Posted: 30 Dec 2018 01:36 AM PST

    That Time Bitcoin Had That ICO...

    Posted: 29 Dec 2018 04:50 AM PST

    Top 5 Crypto Scams of 2018

    Posted: 30 Dec 2018 03:05 AM PST

    anonymous buying, vs Mining my own??

    Posted: 29 Dec 2018 07:16 PM PST

    Hi:

    I really am into crypto for the store of value and preparation for the upcoming collapse globally. So, as such, I do not believe in the intrusive nature of KYC (know ur customer) where privacy is trample.

    Is joining a mining pool a decent way to get fresh coins that are not part of KYC (provided that you don't provide info to the mining pool?)

    Please Help.

    ​

    I mean, obviously, the other thing I could do is just get my own mining rig, but there is so much more flexibility (I wold think) to use a web bases pool?

    ​

    thx. Appreciate any knowledge on this front.

    ​

    thx

    submitted by /u/longtang
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    Cryptocurrency Exchange Kraken Adds Bitcoin Cash and Ripple Margin Trading

    Posted: 30 Dec 2018 02:02 AM PST

    Bitcoin Cash Block Sizes Average Less Than 100 KB, Defeating The Point Of Its Creation

    Posted: 30 Dec 2018 01:44 AM PST

    Bitcoin Cash Block Sizes Average Less Than 100 KB, Defeating The Point Of Its Creation

    ​

    https://i.redd.it/uf07qg21zd721.png

    https://cryptoiq.co/bitcoin-cash-block-sizes-average-less-than-100-kb-defeating-the-point-of-its-creation/

    Bitcoin Cash (BCH) forked from the Bitcoin (BTC) blockchain in August 2017, amid a heated block size debate. At the time the Bitcoin network was undergoing congestion due to increased transaction frequency and transaction fees began to exceed $1, going as high as $3 in June 2017.

    The Bitcoin Cash community thought that increasing Bitcoin's block size limit was the best method to increase scalability. Initially, when Bitcoin Cash was created, it had a block size limit of 8 MB, and this was later increased to 32 MB. But Bitcoin Cash (BCH) has a very low rate of adoption, and block sizes currently average less than 100 KB, making the block size increase above Bitcoin's (BTC) 1 MB totally pointless, defeating the purpose of Bitcoin Cash (BCH).

    The block explorer shows how Bitcoin Cash (BCH) cannot even reach 1 MB block sizes, let alone 32 MB. Block sizes of less than 10 KB are common, and there is an occasional block less than 1 KB. Blocks in excess of 100 KB are rare, and there are no blocks today anywhere near 1 MB. Therefore, Bitcoin Cash (BCH) could have a block size of 1 MB and function perfectly. The long term block size chart shows that block sizes have averaged well below 100 KB throughout December 2018.

    There are a few instances in 2018 when Bitcoin Cash (BCH) exceeded 1 MB block sizes. In early September average block size briefly hit 1-3 MB, but this was from a "stress test" to prove transaction fees do not increase from increased transactions on the network.

    In November, Bitcoin Cash (BCH) split into Bitcoin Cash ABC (now named Bitcoin Cash) and Bitcoin SV. The war between these Bitcoin Cash forks caused spam attacks that increased block sizes to 1-2 MB on average.

    On Jan. 15 the average Bitcoin Cash (BCH) block size approached 5 mb, coinciding with the price of Bitcoin Cash (BCH) crashing from $2,700 to $1,500. This is perhaps the 1 case where Bitcoin Cash's network legitimately had block sizes over 1 Mb, but it was due to people dumping their Bitcoin Cash (BCH) as fast as possible in a panic selling situation.

    In summary, since Bitcoin Cash (BCH) has relatively low network activity when compared to Bitcoin (BTC), it seems that there was no point in creating Bitcoin Cash (BCH), since its block sizes are almost always below 100 KB.

    Bitcoin (BTC) seems to have resolved its transaction fee problems with Segregated Witness (SegWit), which increases the block size to 1.2 MB on average. This is done by redefining the block size in terms of 1,000 units instead of 1,000 KB, and separating the witness data (signature data) from the Merkle Tree and counting each KB of the witness data as ¼ of a unit.

    Also, the Bitcoin Lightning Network is maturing and can handle as much transaction volume as Bitcoin needs without increasing on-chain transactions or block size. In November 2018, the Lightning Network rapidly grew in capacity due to increasing Bitcoin transaction volume and proved that it is a solution which can completely mitigate rises in Bitcoin transaction fees. The fact that Bitcoin (BTC) has become scalable to increased transaction frequency makes the creation of Bitcoin Cash (BCH) even more pointless.

    submitted by /u/turtlecane
    [link] [comments]

    Roger Ver offers $1.2 million to OpenNode to shift from Bitcoin and accept Bitcoin Cash, OpenNode turns down the offer

    Posted: 30 Dec 2018 03:10 AM PST

    You can now warm your house and mine bitcoin without wasting any energy

    Posted: 29 Dec 2018 05:18 PM PST

    Samsung Files Trademark Application for Cryptocurrency Wallet Software

    Posted: 29 Dec 2018 07:13 AM PST

    Lite.IM Adds Bitcoin (BTC) Support to Facebook Messenger, Telegram and SMS

    Posted: 30 Dec 2018 02:28 AM PST

    People seeming to find confusion in a company having the same name as a protocol, some claiming to think that buying XRP is buying Ripple company stock, some wanting "Ripple" to never be mentioned in the same sentence as XRP.

    Posted: 29 Dec 2018 10:39 PM PST

    Alza, one of the Europe's biggest retailers have now Bitcoin in TV AD and on the main website.

    Posted: 30 Dec 2018 12:37 AM PST

    Why Nonprofits Should Accept Crypto Donations

    Posted: 29 Dec 2018 11:22 AM PST
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