Blockchain Data Reveals Someone Is Trying to Slow Down Bitcoin Cash

It’s been five days since the fork, and the Bitcoin Cash (BCH/BCC) blockchain is still on the move as 85 blocks have been processed by miners so far. The 85th block was mined by the mining pool Bitclub, a newcomer to the BCH network. The BCH chain is moving a bit more consistently now, but mining profitability and the gaming of the currency’s mining difficulty continues to be a struggle for the newly born network.

Also read: Segwit2x and the Tale of Three Bitcoins

Bitcoin Cash Mining Difficulty Needs to Drop More, but Something Might Be Stopping It

At the time of writing the BCH network hashrate is roughly around 300PH/s with blocks occurring roughly every 1-2 hours and some with longer intervals. Currently, there seems to be four pools working on the BCH chain and the largest of them is unknown. Another pool which has joined in on mining BCH blocks is a pool known as Suprnova.cc, and the group is known for publishing pretty interesting coinbase messages. Suprnova also mines many other digital currencies like Zcash and is only pointing very little hashrate towards the BCH network. At press time Suprnova has only 0.25 PH/s and eighteen workers dedicated to BCH.

Blockchain Data Says Someone Is Trying to Slow Down Bitcoin Cash
The Suprnova pool on Twitter.

The first BCH block took approximately five hours to complete and was followed by a block with a 12-hour interval in between it as well. On August 1 the BCH chain started with the same difficulty as BTC’s and the associated token was only worth $600-700 at that time. That means – unless resources like electricity are completely free – mining the BCH chain at that time was not profitable. At BTC’s difficulty, BCH would have needed to be around $2100 to be profitable.

Bitcoin Cash: The Conflict and Cooperation of Optimizing Agents

This is why there was an initial 12-hour wait to find the next block. Miners who support the new chain want the difficulty to drop. The difficulty did eventually fall several times, but the price also dived into the low $200s as well, making it 311% more profitable to mine on the BTC chain. The next difficulty drop should lock in soon and the Bitclub pool entry may indicate more miners are becoming attracted to this chain. 

Bitcoin Cash: The Conflict and Cooperation of Optimizing Agents
24-hour BCH/USD charts according to Crypto Compare on August 5, 2017.

Game Theory: The Malicious and Honest Miner

Some people think a ‘malicious’ miner might be gaming the network, to hinder further difficulty adjustments. A few people on forums noticed this happening as one person writes, “There’s a pattern I’m seeing, someone with quite a lot of hash power is ramping up and producing two blocks minutes apart every time the adjustment nearly triggers.” Another individual observes the same situation taking place,

I have been noticing the same pattern in real time. We almost reached twelve hours, Viabtc has no more than 25PH mining, last block took 339 minutes and BAM we get a thirteen minutes block. This is the third time it happens when we reach over 11.5 hours.

‘Honest’ miners have been slowing down or ‘pausing’ for twelve hour periods so they can lower the difficulty even more. Presently the BCH chain’s difficulty is 26 percent of the BTC legacy chain’s mining difficulty. The Bitcoin Cash protocol’s rules detail that in order for the difficulty to adjust down it utilizes Median Time Past (MTP) of the last block and the MTP of the 6 previous blocks has to surpass twelve hours for it to drop another percentage.

The gray region, “other,” has mined 69% of the BCH blocks and was mined by an unknown mining source. The new entry Bitclub now captures 1.18% of the BCH network. 

 The Unknown Miner Hashrate Commands Two-Thirds of the Entire Network

The malicious miner theory is entirely possible as these miners can use their hash power to produce a block between the paused intervals. This has caused people to speculate specifically on the unknown miner that has mined a majority of the blocks so far. It doesn’t seem to be the Hong Kong miner who was advertising his new cryptocurrency center at the start of the BCH chain.

Further, we know the Suprnova pool’s coinbase data said ‘fuckbitcoincash’ and the pool could also be ‘attack mining’, but it has very little strength compared to the unknown mining majority. If anything is disrupting these longer block intervals that are intended to drop the difficulty, it’s most likely this anonymous miner.

What do you think about the Bitcoin Cash chain getting attacked by malicious miners? Do you think this theory is plausible? Let us know what you think in the comments below.


Images via Shutterstock, Twitter, Crypto Compare, and Coin Dance. 


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  • Aero 9000

    Wouldn’t surprise me a bit(coin)

  • MC Kuky

    Core play dirty, that much is very clear already.
    If they play dirty so should you.
    Action = Reaction

    • Frutiv Academy

      Bitcoin cash team are a bunch of confused group of people, they had never gotten anything right, this shows a huge lack of preparedness, i cant trust this people with my money, hence i dumped the f**king bch at around a 1000dollars which i knew was only a pump scheme rally, im waiting till it drops to around 8dollars b4 i buy again, 8dollars is a fair start for bch and let them prove their worth overtime, it will be silly to give too mudh value yet to this guys, trust me

      • MC Kuky

        Nothing confusing here. They knew difficulty will be too high at first, its just that Core fucks always play dirty. I would not be so nice with them. What pisses me off is, what the fuck are all the miners that wanted and voted for bigger blocks waiting for? If they all started moving to BCH, BTC would be out in no time… but human greed is not allowing it yet as they see mining BTC is still more profitable, but this will change, and then game will be changed.

        Also, it might be they are just waiting for November, see if the SegWit2x will fail (as Core fucks will continue to block the 2x part), so we’ll see… but I am very confident Bitcoin Cash is here to stay… it just started and there is much more to happen here that will change things around a bit. I am not buying or holding any BTC any more, I am all in on Bitcoin Cash… I see this as blessing in disguise, as what would you say if you had a chance to get the real Bitcoin at such cheap price? I would say… buy it while you can, this price won’t last for very long.

        • Prateek Kamboj

          just one finger and two words for you…. (hope you understand)

          • MC Kuky

            You fuckhead, looks like political correctness is your dad?
            Do you understand that?

        • Allan Harris

          Yes, we want them to move to BCH and find that after several months that the coffee they buy and wait for is still going to be cold by the time the confirmations roll in, so good luck with that past 8 year technology and shove lots more into the block if you like, it is still slow with no new technology.

          • MC Kuky

            You don’t need to wait for confirmation, as soon as you can see in wallet that there has been a transfer, which happens very quickly, you are good to go. When you pay with Visa, the merchant doesn’t get the money in that instant, the real transaction is processed days later.

            Bottom line is, Bitcoin Core is now a Dictatorship, and anyone that doesn’t see it is a fucking fool, and they will pay a high price because of it, as such system when corporation buys out developers and they dictate everyone else, not NOT what people want… when will you people learn?

            Bitcoin Cash is the real deal now, if you were any smart you’d be buying it while its very cheap. Once people see what shit Lightning Network is and how they have been duped (free transactions my ass, there is no such thing in capitalist business) and how inconvenient it is for general user to create payment channels in advance, and how Blockstream and Axa control the whole thing, they will be jumping off that sinking Titanic in no time.

            Bitcoin Core is now a Titanic that has hit the ice berg already, and now its cruising in ignorance, the people enjoying the high price thinking they get it all figured out… and then… reality kicks in.

            Bitcoin Core is simply not sustainable as it steals from the very people that are needed to support it, which is what is guaranteed to create it into 100% corporate controlled blockchain… and I would not be keeping my savings in that shit of a centralised system.

            Fools.

          • Allan Harris

            You’re only good to go if the merchant wants bugger all confirmations, BCH’s solution is the same as pre-segwit Bitcoin, still minutes as stated on Bitcoin Cash’s website, thats useless. They used the word “minutes”

          • MC Kuky

            I have no problem with someone creating an alternative system, even if its owned by some corporation or government, but I do have a big problem, and so should you too, if you really want to have an option to have a DECENTRALISED one, when some Corporation (and actually more of them) are well on their way to take away the only decentralised option you had so far, which was Bitcoin, because making an artificial limit, which NO MINER AGREED TO AS THEY ALL WANT BIGGER BLOCKS, and the user can CHOSE what system they want to use.

            Lets get very serious here… are you people for real? I mean are you truly thinking you will get a FREE transactions from a very large corporation, using their payment channels… that will run on top of system that will be mined by people who are not part of their system… and support their system at a loss?

            Are you people fucking mental?
            Yes… I can see you are fucking mental!

          • Prof X

            You don’t mind one government or corporation having control? How is that decentralized potty mouth?

            Bitcoin is far more decentralized than Bcash, which is all located in one country. All you jokers did was increase the block size.

            You are sitting their with a script the government handed you and are spewing nonsense propaganda. You make no sense.

            I just hope you aren’t prison labor who really agrees with us and is being forced to use your linguistic skills to push their totalitarian trash.

          • MC Kuky

            Another parrot dumb cunt. What one government was behind Bitcoin? Do you even know what the fuck you are saying? You are saying that all those miners in USA, Europe and rest of the world, the majority of which are actually in USA… what… controlled by China? Is that your argument? Say it… is that your fucking argument?

            You and others talk shit garbage and baseless accusations without any actual genuine thought put into it, and expect me to be nice and polite to you? You expect fuckers like Tone and Jewmeister and many others cal names, make up fake names for the Bitcoin Cash… and expect the honest guys to take it and put up with you lot?

            All of you fucks need to get on some rocket and bloc yourself out if this planet, out of the orbit and get as far as possible… lying fucks and ignorant dumb cunts is what allowed this world to become such a shit in the first place. So take your non-potty mouth and fuck off.

          • Prof X

            You are like a child. There were 3 big industrial miners who are pushing Bcash and caused the split in the first place. All in the same centralized country.

            And leave your mother’s vagina out of the conversation. It has done enough damage to the world when it pooped you out.

          • MC Kuky

            And I am grateful for them mining of Bitcoin Cash… you are calling me childish, yet you are the one that doesn’t want to call Bitcoin Cash with its real name… BITCOIN CASH… and call it names… and I am the childish one? You dumb fuck… I don’t think you are that dumb, you are just part of the Core propaganda machine. I have nothing more to say to you… you are either a dumb cunt that even with your self proclaimed math knowledge, you can’t use basic logic… OR… you are just another shill for the Core… I wonder how much they are paying you?

            Even fuckers like Tone have Bitcoin Cash now… these people who are self proclaimed die hard fanatics about decentralisation, claminig that Blcokstream corporation is the answer to scaling, while the free people mining Bitcoin Cash have proven in minimal time that all the shit they put out about Chinese, Roger and Jihan, and all other GARBAGE… is just that… GARBAGE.

            YOU ARE A DUMB MORON – OR – A CORE PROPAGANDA SHILL

            Either way I look at it, you are full of shit.

          • Prof X

            You are a child who throws a temper tantrum every time you post. You cry like a govt baby every post with no facts.

            Investors know that most people who are so angry are so because they have lost a lot of money. Successful people are happy.

          • MC Kuky

            There you go again with your childish crap. I told you already people like you are the ones that can’t even accept that their corporate backed Bitcoin, which will soon become ExBitcoin, and have to resort to name calling and propaganda. You don’t have the decency to call it Bitcoin Cash. So if anyone is being a child, it is people like you.

            And Success is not all about money, the rich fucks that have rigged everything are the ones that want you to believe that. And FYI, I have not lost any money… and yet I am pissed off because I see a world full of morons and idiots, liars and human scum… and you are being one of them.

          • Prof X

            The evil central banks are not fooled by the cryptocoup of another national bank. When they declare BTC an official currency, Bcash will only be accepted in one place and become the de facto national currency there.

            Again, I don’t care about the markets or banks, I want to be in that sweet spot just ahead of the market heard. I don’t have to run faster than the wolf, just faster than the herd.

            And I don’t want to be the wolf, cause he will go home on the hunter’s belt.

            So you will be happy once there are no more morons? Good luck with that.

          • MC Kuky

            I would be VERY HAPPY if there were no morons, indeed. That would make the world I live in much nicer. Reason we have all this shit in the world with fake everything, illegal proxy wars, corrupt scam of a monetary system, political system, economic system.. the whole deal… is because there are too many morons. You cannot trick a smart person, but you can trick a moron very easily… and they have.

          • Prof X

            Bcash is mined in one country, BTC is mined across the world.

            Would you rather have your money controlled by miners who are all in one country? A place so restricted you cannot even check your facebook?

            No thank you, I prefer my freedom which leads to open, unmanipulated markets that create greater prosperity!

            A market needs trust. The risk of a government intervention breaks that trust and kills the market.

          • MC Kuky

            There is no such thing, there is only BITCOIN CASH.

            Propaganda won’t get you anywhere, so you could just drop it and stop being a dick, will ya?

            If you want to talk how miners are centralised, well then why the fuck did you get into Bitcoin in the first place? Oh I know… because you nothing but a dumb fuck that can’t see (or pretends to be one) that there is absolutely nothing decentralised in a Blockstream corporate owned payment system… I mean talking about idiocy of the highest level with you people !?

            Now I see what they mean when they say 1/2 of the population has IQ lower than average… Bitcoin Core owners must be heavily low on IQ!?

          • Prof X

            There are 3 kinds of people in this world: those who are good at math, and those who are not.

            I am just a truth seeking analyst who doesn’t want to invest in something just because you want me to and are very angry.

            Bullies don’t get to change the facts, only the opinion of the weak minded and fearful.

            I could care less which way the political wind blows, I just want to have my sails pointed in the right direction. And it is not towards Bcash fantasy island.

          • MC Kuky

            You are free to chose, indeed. and so should be everyone else. Now apply that same principle into Bitcoin and think and stop just repeating what those people calling Bitcoin Cash as Bcash, tell you. They do not allow miners to get larger blocks… let me repeat… THEY (The Core developers) want to limit miners to get what the miners want. If you can’s see the obvious, you can take your maths and shove it out the window… you don’t know jack shit,.

          • Prof X

            Leave my good friend Jack Shit out of this, he has enough trouble what with children making fun of his name.

            I told him not to become a primary school teacher but he wouldn’t listen.

    • Frutiv Academy

      What hashrate does bch has to play dirty with bitcoin core, please save me some laugh

  • Frutiv Academy

    My only source of humour in cryto space of late is bitcoin cash, i keep hearing some funny talks from them every waking day, now i wouldnt even have a sunday free of a big joke from them, the biggest of their joke is that they think they are the main chain, ofcource you cannot be the main chain if everyone decide to upgrade the bitcoin codebase, in order words bitcoin cash is an altcoin, another one is they steal almost anything including ticker (bcc), an average blockchain developer should have a good laugh on this one

    • MC Kuky

      Says a moron that can’t tell what the real Bitcoin is.

      • Phil Maher

        Yup bcash is the answer, love how they put together such a solid plan and have a truly innovative coin, and how they raised tons of money, so they can hire the best with 16m free coin giveaway…oh wait, oops.

        • MC Kuky

          I don’t know what you uneducated keep referring to as this “Bcash” there is no such thing. The new real Bitcoin with Satoshi’s vision is called BITCOIN CASH… I guess some people don’t have high enough intellect to memorise one name? Oh well, not everyone can be smart.

          • Prof X

            Potty mouth government troll.

            Do you kiss your mother with that dirty mouth? Good thing she has a beard to protect her from your disease.

            You would rather act like a child than analyze the market? Bring it. You will end up in my belly. And I will be farting all week with your totalitarian stink.

      • sjs

        Man, you’re on fire ;-))

        • MC Kuky

          Thank you, I have a small fire extinguisher handy, just in case 🙂

          • sjs

            Let em have it, both barrels ;-)))

  • Frutiv Academy

    Im really really pissed right now, what exactly is bitcoin cash except for some bunch changing a single line of code to 8mb, where is their whitepaper to show us exactly what they are up to, these guys are toiling with our investments, please if anyone knows these guys i want to read their whitepaper

    • MC Kuky

      Their white paper is the original Bitcoin white paper. Core are about to change Bitcoin into something else, and dumb masses are like sheep just following the liars advocating for core. When Bitcoin Cash gets out of this initial struggle and starts catching up, anyone that loses money in BTC, I will not feel sorry for them because they are all nothing but greedy and ignorant fools that don’t want to do the right thing… so fuck’em.

      • sjs

        Hope you’ve taken your Viagra, there are lots of them. 😉

    • Whitepaper? Nobody needs a whitepaper to piggyback a blockchain. The New York Agreement is where you need to start: Bitcoin Scaling Agreement at Consensus 2017
      May 23, 2017 on the Medium site is a first read. Then, go through all of the videos for that meet up. More than 50 companies consisting of mining pools and end user applications and news sites, including this one, thought it would be a great idea, because they wanted to scale and make more profits than they already had. More than 80% of the mining hashpower decided for you. And, they are not done yet; Segwit2 is coming. Here is the agreement, “We agree to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the original Segwit2Mb proposal: – Activate Segregated Witness at an 80% threshold, signaling at bit 4 – Activate a 2 MB hard fork within six months. We are also committed to the research and development of technical mechanisms to improve signaling in the bitcoin community, as well as to put in place communication tools, in order to more closely coordinate with ecosystem participants in the design, integration, and deployment of safe solutions that increase bitcoin capacity.” Nobody is testing the affect and nobody can predict the affect. Nobody has the power to stop them, either. Should they do it? Well, they don’t feel you have a say. So, yes they think they should. Because you are the capacity they are talking about, you who want fast transactions to buy a cup of coffee in seconds and you who want cheap transaction fees like 20sat per Byte instead of 300sat per Byte as before the Fork. Wanting these things spurred them on and got them to thinking they could make future gains selling you new applications instead of giving them away. You might think how come they do not make profit like you do. I wonder the same. My answer is they do, they just want more. Human Nature. I on the other hand have been wanting better mining hardware and a more sophisticated verification protocol, not a sophisticated transaction protocol. But, I am just a single lowly miner resolving blocks for fees. I don’t count except when I participate in a pool and vote as part of a collective. There was another side, the ABC Developers, who took a different route and birthed BCH at this time just in case anyone changed their minds; search “uahf-contingency-plan-uasf-bip148”. Was it disruptive? Sure. Did they have a equal consensus? Sure. Should they have done it? I am not sure, but they did. Now, no one can really tell what discontented discontinuity and wielded power will do to Bitcoin. I have looked through their proposals and nothing stops the end user from voting with their use. Use BTC and it will continue to win. Use BCH and it will survive. BCH needs the same conglomerate of the NYA to really take off. So, I see BCH dying a slow death. But, for now we are in the UASF vs UAHF battle. I think this why anyone promising to pay you for the BCH is either skimming or restricting.

    • sjs

      Is that ‘toiling’ or ‘toying’ ? 😉

      Of course it might indeed be both.

    • This post shows so much ignorance!

      • Prof X

        How insightful of you to simply name call.

        Change of shift at the ministry of trolls. McKuk must need his beauty sleep.

        • I didn’t call you any names. I said the post showed ignorance, which is true. Then, of course, you who supposedly hates name calling applied it. Good going, hypocrite!

          • Prof X

            False equivalency, bad logic, I call bullshit on your passive aggressive name calling.

          • “Passive aggressive” is used by people who either

            1) have no concept of what the term means
            2) want to push their view and/or laws and rules on others
            3) both

            I did not use name calling, but you sure did.

          • Prof X

            Passive aggressive is saying or doing something in a passive voice instead of saying it directly like “Your post is ignorant” implying I am, instead of saying directly “I am ignorant” but it is actually a better teaching/communication method if followed up with facts why and suggested improvements.

            So I think you are right, you attacked my actions and not me. My apologies.

          • First you misquoted me, then you incorrectly analyzed the meaning, but that’s okay.

          • Prof X

            You are like my girlfriend who likes to argue about the arguing instead of the issue. Hey … wait a minute … Honey, is that you?

            Sorry, I wasn’t sure for a minute. She also likes the V mask cause she is into cosplay.

          • You are like, blocked.

          • Prof X

            Hmm, maybe you are my girlfriend! 😀

        • …and what is it you’re up to if not trolling?

          • Prof X

            I am trying to elicit factual information and perspective from other analysts and am honestly stunned by the apparent presence of a lot folks from the ministry of trolls spewing emotional political rhetoric and then complimenting each other, hilarious and fascinating.

            I had no idea this was such a war zone but I will keep trying to push an intellectual act based conversation, while also having a few laughs at your chubby thighs.

            But you will not make me angry, nor am I intimidated. My emotions are out of your reach, but I’m gonna call you out.

            If everyone had just a little honor and honesty this world would be a great place and grow so fast. But primates of all cultures and countries are such despicable liars so here we are.

          • There are a lot of drive-by trollings going on. I have no idea where “chubby thighs” fit in with the discussion, but they probably fit in with trolling.

            Who said I’m trying to intimidate? You’re going to call me out for what exactly?

          • Prof X

            Chubby thighs is innocuous, it just means I will respond to anger and bullies with silly humor.

            I did not mean you personally overall when I was talking about trolls. The minute you posted above that you weren’t ready to pick either I realized you were very real and just trying to figure it out like the rest of us and then I wanted to see what you see. There are some angry bullies here who are either pushing a political agenda with pure emotional triggers who are either paid trolls or guys who are mad at everybody cause they lost their shirt. They were on exchange and could have sold at $700 and didn’t so now they rage. It is hard to control the old avatar sometimes, but we must try. I had GBTC at $410 sold at $457 and was ecstatic until it went to $550 earlier. Now I might have to go beat the dog (kidding)

            I was calling you out for denying your “ignorant” post wasn’t passive aggressive name calling.

          • tl;dr

          • Prof X

            I love voice recognition software cause I can type quickly.

            I love long posts because I am an analyst who wants to talk about numbers and trends and the market with other analysts.

            The long posts filter out the twitterheads, politicians, and satirists. And people with an agenda outside of profit who don’t like the core or something else.

  • David

    Thats not fair. Even I have investment in BTC I don’t like this behaviour.

    • mmortal03

      Welcome to cryptocurrency. Blockchains are war.

    • “Fair” hardly plays into it (and I want to see BCH survive.)

    • meltorgamblor

      They’re barely affecting it. Mining in support and mining in attack are both still mining. They maybe strategically delayed a 20% drop, but they helped toward the normal adjustment. The drop came eventually and we’re now out-pacing BTC blocks.

      Selling BCC hurts the price now but helps supporters who want to buy as much as possible, attack mining hurts in the short term but helps the overall adjust… Everything is a double edged sword and in the end whichever coin works better will be bitcoin. BCC is not doing badly at all!

  • BCH seems to be working as designed. How miners would react to the difficulty is a paradigm not tested; MTP favoring the conglomerate with the most time in. Simulation was required in testing MTP positive and negative response, if the engineer expected a dynamic response. I’ll save you the time; one plane of access only one throughput response at a time. BCH is as warned before the split, an altcoin designed for Huge Centralized mining. Lower hashpower is collecting scraps and losing on ROI. No matter the technical detail of how BCH is operating it has to be used by a wider spread of end users and miners, mass adoption. And, unless there are massive buys, sell off will continue. Exchanges will continue to limit access and Trading will continue to bleed value to protect their time of involvement. Market response is more of the cause than design and roll out. People find it unfavorable in value, people are already engineered to spot survival. I don’t believe the design features of BCH and possible advantage plays were not engineered. I do believe expectation of the use of the BCH features so soon is unexpected. BCH proponents are getting what they promised an altcoin and more capacity in BTC. I have been watching the ball in the scrum, BTC transaction delay and fees. We had 20sat then we lost it and rose to 200sat, now we are 120sat average and fluctuating, but 20sat has yet to arrive again. Difficulty; I feel it will cause the rise in delay and fees, again. Changes in software can only give you a small change, while better hardware will change the time-frame. A paradigm, I have yet seen change. When someone explains off-chain, ask them, on what hardware. Most likely it is the same hardware only sequestered.

  • Prof X

    Oh Oh! Looks like a lot of people went all in on BCH or BCC or Bcash or whatever it is called now. Sorry about your luck, I understand your frustration, but I would get out now.

    There is currently a “run” on selling because transfers take 36 hours so those cold storage wallets are lined up and ready to trade for BTC all week. The more hash power, the more sales, the lower it goes.

    Think it will be bad this week? Wait until GBTC sells to pay out the promised dividend. Then when Coinbase unloads in January, if there is anything left, it will be gone, miners will go back to BTC, pbly long before.

    I might go short on $8 actually. If you want an altcoin, speculate on something that actually improves the technology, and not just an increased block size money grab. Well played by the miners who kept it on supportive exchanges.

    • MC Kuky

      lol, please do get out… follow the dumb money.
      1st rule of trading is: when everyone is selling, you should be buying and when everyone is buying you should be selling. Sheep mentality. Fucking moron.

      • sjs

        Dude, stop it, you’re killing me. LOL ;-)))

      • Prof X

        That’s the same thing your mother said to me this morning but it was so hard to understand her with all my bitcoin in her mouth.

        • JAFO

          dude I think he was referring to fucking mormons not fucking his mum.

    • meltorgamblor

      The dumping is making future me very rich. I felt guilty yesterday. But if I hadn’t bought the undervalued BCC with overvalued post-fork BTC, someone else would have, right?

      MC Kuky is a little rude, but it IS a very basic point. Buy low. Don’t sell low. Everyone who thinks BCC will succeed is in a feeding frenzy right now. We dump one post-fork BTC and get 15 BCC. I am not sure how you call that bad luck for BCC supporters.

      Once the difficulty adjusts in a couple weeks, miners will switch. Utility will go up as wallets come out and blocks are fast, dumpers will be out of BCC, price will go up, more miners will switch. If there is any contention about the 2x part in three months, miners will abandon that chain and it will collapse. BCC is being ruled out and sold for almost nothing, when BTC collapsing is written on the wall!

      Anyway, that is why I felt guilty yesterday. But y’all had the same internet that I have, not sure how so many came to the “sell BCC for almost nothing” conclusion.

      • Prof X

        BCH might go up, BTC will go up. The tech is important, the market is more important. When I could buy chipies at 7/11 with my phone was my big short moment. Trusts and IRAs are just starting to get approved, it is just beginning. If the buy low is always true then shouldn’t we all be buying potcoin and putincoin?

        • Richard Wiig

          Very true. I don’t know how my tv works, but I’ll purchase one and use it. Same with Bitcoin or Bitcoin Cash. If they’re useful as a currency, then I’ll use them.

          “The tech is important, the market is more important.”

        • meltorgamblor

          Low is relative. If you think potcoin and putincoin are undervalued or super promising, then yes.

          BCH/BTC value are intrinsically tied. As one goes up, the other comes down. The overall value (BCH+BTC) is the full bitcoin value and can be used to see how much bitcoin has risen overall since the fork. Unfortunately they cannot peacefully co-exist because they compete for the same hash rate. I doubt they will both long-term go up (this would be a balancing act); we will see one go up and the other go down as value shifts around.

          • Prof X

            I understand and appreciate your point. It really feels like a cryptocoup to me, and may be the undoing of both.

            It is why the value of ether is taking off. So obvious now, I should have moved to ether, at least short term.

            Could bitcoin be the MySpace of crypto and ether (or something else) be the Facebook?

            I can tell you what is not the future, Bcash. It may yet torpedo the entire sha256 ship.

    • Your tragic timing is hilarious!

      • Prof X

        Time will tell my friend.

        • That’s what I said all last week, as they said it was going to drop to $5.

          • Prof X

            Until deep government pockets propped it up at exactly $200 w no variance for a long time.

            And per this article they slowed down transfers to prevent a run on the bank.

            Lots of cold storage out there and big trusts and exchanges still to unload.

            I never underestimate greed, but lets see where you are in February. Bcash might go up. BTC will go up.

          • There is no evidence of “deep government pockets” but there seem to be banker pockets paying the core team.

          • Prof X

            You are correct, the govt part is my speculation cause they have deep pockets. Could be any deep pockets. And in my case I have very short arms.

            So you have a political issue with core folks and I applaud your good heart to take on a cause but from a market based perspective BTH, BCH, BCC, Bcash or whatever you call it pales in comparison.

            There is also a time and opportunity cost to money, I am not at your pay grade but I lucky got with my pitiful kitty out at $260 and put it in BTC which has gone up 14% in the last couple days, wheeeee! But calm down Prof X, no causation, does analysis portend BCwhatchacallit increasing more than BTC in the near future? Magic 8 Ball says “Don’t count on it”.

            I hope they both go up and we laugh together, but I am doubtful at this point. Sorry about your friends at the Core but they sound like real jerks. Who likes bankers anyway, they’re all villains. 🙂

          • tl;dr, but caught that last bit. They’re not MY friends.

          • Prof X

            Yea right, you skipped right to the end. 🙂 See what I mean about human primates being despicable liars?

            There was a study done that found that on average people lie 10x a day and learn deceit by the age of 4.

            Actually I just made that all up. 9 to go. Or maybe not? 😀

            Thank you, I’ll be here all week. Try the veal.

          • Prof X

            Correlation does not imply causation. What anyone said before is irrelavant.

            Nothing is 100%, you may be right but right now my best analysis would give it a low probability. Just my view.

            I am concerned about a push from deep corporate or government pockets that might increase that probability and keep trying to play that scenario out in my mind. Could it lead the US govt to react by coming down hard on all cryptos?

            The uncertainty pushes me away from Bcash, but BTC has such international market penetration I have a hard time thinking it won’t go up. Are BTC and Bcash really a zero sum game?

            But I mean you no harm and hope that we are all very prosperous and happy.

          • I never claimed correlation implied causation. I called them full of it. If you’re concerned about corporate or government pockets, I’d look into who’s paying the bitcoin core team. That bugs me a bit.

            No, I do not believe BTC and BTH are a zero sum game.

          • It is not BCash. BCash is actually a joke coin just introduced. Let us stick with BCH or Bitcoin Cash. 🙂

    • Ken King

      I am a cynic and have to wonder if CoinBase is waiting until January because they are cashing in on profits now and hoping to buy it back in december (or some other date pre january where it is sufficiently dropped) to distribute it at a much lower rate and pocket the difference

      • Prof X

        OMG you’re right! Of course they did. And probably GBTC too unless there is a legal restrict there.

        Maybe that was the downward pressure from $800 down to $200?

        Which means when they buy it back … gulp … it will spike up! 😮

        Makes sense then they could try and crush it fast at the beginning. But low hash rate per this article was the counter punch to give cold storage wallets a chance to catch up, and then deep pockets stabilized it at $200 so people would relax and see a trough.

        Thank you Sir! How can we find out if thst happened? Volume history? Was there enough on day 1 to account for that? Well at least my new friend V will make some money. Hey I could buy back in and still ride that up after a 14% 2 day BTC ride? But still not confident. :-/

        Where can we learn more? My fragile eggshell mind is like a flower floating in the breeze.

        • Ken King

          Don’t know if you are being facetious or not, but I found a great site that lists every crypto, trade volume, current value, volume in circulation and total market value, but the mods here don’t seem to like URL links, so try using google to find coinmarketcap currencies

  • Allan Harris

    “gaming” the network ? as in playing games on it ? or do you mean jamming the network

  • SapientIdiot

    Well has it been 2016 blocks yet? If the split happened on the 1st then the difficulty adjustment should be around the 14th, till then it’ll be slow going. Did they change that rule too?

  • Taiwoo

    I find it sad that there are so many entrenched opinions about this whole subject. Everybody can agree that the Aug 1. fork happened because the bitcoin community have different views on how to make bitcoin better and scale. The common goal is clear until people who believe that their idea of making bitcoin better is the only way and begins see any attempt to argue a different solution as an attack. Now the bitcoin community feels more divided than before and a potential new fork coming up. I hope the majority of the community is not so emotionally attached to their own idea that they can’t see the positives in the other idea or at least the positives of testing other ideas. Stop fighting! If big banking and old politics were ever to triumph over a free and decentralized system it would probably be done with divide and conquer tactics and it kinda feels like it.

    Trying to slow down BCH who would gain doing that? BTC? My guess is not anyone with a long term position in the crypto ecosystems. Could it be influenced by old (FIAT) money trying some kind of power grab to control direction in development of the bitcoin ecosystem?

    • Richard Wiig

      One of the best paragraphs in this whole thread.

      “Trying to slow down BCH who would gain doing that? BTC? My guess is not anyone with a long term position in the crypto ecosystems. Could it be influenced by old (FIAT) money trying some kind of power grab to control direction in development of the bitcoin ecosystem?”

      • Prof X

        Divide and conquer. If you can get different factions within your enemies tribe isolated or fighting each other, they become vulnerable. Every king knows that.

        I knew a decentralized worker owned business, and it was great that everyone shared in profit but the meetings were always big fights with whoever lost the vote getting their feelings hurt and calling in sick on busy days.

        We are all primates who deep down long for a king, and when we say we don’t want one, what we really mean is that we want to be one. What good is being rich if you can’t control the other primates by deciding which of their behaviors have value?

        Now if you’ll excuse me I’m going to head down to the red light district and put some value on behavior I prefer to a person for whom society has not provided much opportunity. And she’ll probably accept bitcoin. 🙂 And not BCH. 😛

  • kris_davison

    This was always going to happen to the smaller coin. It’s nothing new we used to have it at Feathercoin which is why we switched the hashing algorithm from scrypt to neoscrypt. Miners are in this for the money there are even mining pools that will switch your miner to the most profitable coin for you. My guess is once bch eventually gets to a reasonable difficulty miners will jump in and mine the crap out of it raising the difficulty way up and then head back to bitcoin. Leaving the “true believers” to mine at a loss to bring it back down. Rinse and repeat. They will need to start looking at better difficulty adjustment algorithms or maybe even hashing algos. Welcome the the land of the ALTs.

  • Prof X

    It sure seems like someone with deep pockets had a $200 buy order to keep it at that floor for a long time. Who would have pockets that deep and motivation?

    A large pool of miners who have all invested in it, maybe even started the whole thing? A central bank that holds power over them? A one party government that might want 51% of miners and investment under their roof?

    What if they announced news or a regulation that caused a sudden shift from BTC to bitcoin cash? Who would win? Who would get hurt?

    Maybe there are people from the ministry of trolls posting on this very site! 😮 I don’t really care who does what, I just want to anticipate it so that my investors can profit if there is a cryptocoup.

    Maybe all us decentralized hippies are about to get a lesson about messin with the king’s coin. This has been your paranoid post of the day.

    • George Bardosh

      I have a Chinese wife and she is telling me about highest level Chinese pronouncements wishing to develop a Chinese bitcoin..BCC fits the description

      • Prof X

        That is my fear, governments are all going to fight this in their own unique way. Indian govt got a ban recommend, US govt declared it property for taxes and is stingy approving funds, and the Chinese govt could very be planning a cryptocoup, declaring BCH official and setting up infrastructure after taking a large position in it. I would think the Russian govt would like it as a poke in the eye of the USD banking system, but how much better would they like to elevate something new while crushing western portfolios? This is your 2nd paranoid thought of the day. Now this is the post I hope someone tells me is way off. Feel free to use your native dialect.

        • JdL

          Everything you say sounds completely plausible to me. The other plausible scenario: what you describe has not yet happened, but governments around the world are scheming to make it happen. On the other hand, the supposition that such things have not happened and won’t ever happen is NOT plausible. Governments play these manipulation games all the time in arenas where the stakes are much smaller; they won’t neglect to play them here.

          • Prof X

            I think you are spot on. Governments might move slow or be behind the curve but rest assured they will move to protect their interests.

            There is a joke in business that you can easily get away with fraud for a year until the independent auditors show up and then you are screwed.

            No independent auditors means no investor confidence and no investment. Unless you are restricted from moving your capital anyplace else.

            The government has to tie a pork chop around the neck of a fraudulent company to even get the dog to play it. Then says look at how good they are with pets!

      • meltorgamblor

        The BoC has been talking about that for a while, and Putin is developing one too. BCC in no way fits the description though… It’s just BTC with no segwit and with a larger block size. Both immune to manipulation through inflation, and both with the same coin distribution at the fork. That’s like saying Bitcoin fits the description.

        • Prof X

          Don’t the miners vote for changes? If all the miners are in one place, are they not subject to manipulation, intimidation, and regulation from that countries government?

          ALL the governments are coming after bitcoin. Our only hope is decentralization across many countries, then they fight too much amongst themselves to coordinate an effort to get rid of it.

          But if one country could control it all … kiss it goodbye.

          I’m sure they would ALL like to kill BTC and setup their own national cryptos. Especially the US govt, who uses the USD and their banking system like a club. It will be the undoing of the USD.

          But for other places it is a dilemna: take sanction power away from the US but also take away their own control of currency.

          How much better for them to gain control of Bcash and then try to trash BTC. Even if both survive, it is a lot of control in a centralized place.

          • meltorgamblor

            They are both mostly mined in China, so if it is a weakness of one it is a weakness of both. You paint a dreary picture! I think the massive holdings of very libertarian people outweigh anything the governments can acquire, and with those holdings they are heavily incentivized to protect bitcoin. The libertarian/austrian economics people are the ones buying up BCC so they’ll have even larger holdings and be even more incentivized to protect it from ruin.

            You seem libertarian. I hope you keep enough BCC to be happy if it prevails.

          • Prof X

            There are actually a significant amount of industrial miners around the world tho you are right, most are in China. But certaily not more than 50%., is that incorrect?

            I have no issue with any place, good and bad people everywhere, but I am hoping for decentralization which is the selling point of any crypto. If that is true for neither then I have a long term issue with both.

  • Spencer Rhodes

    LMAO @ ‘fuck Bitcoin cash’!

  • meltorgamblor

    I think a large chunk of the “unknown” slice is AntPool. They are down to 18.75% of BTC blocks today, and 21.2% of the last 1000 BTC blocks. They used to be around 24% before the split.

  • sjs

    Shapeshift working great, all Alt coins converted to BCH and making money already. All sell/buy orders processed within 15 minutes by SShift. Retained all BTC as well and both doing well. Happy as a Sandboy. 😉 I strongly suspect this cantankerous fruit loop name calling will prevail for some further time yet. Hopeless conduct for a supposedly ‘intelligent’ community.

    • Prof X

      It takes 36 hrs to move bch to an exchange. There is a backlog of cold storage, and GBTC and Coinbase waiting to dump for a dividend promised.

      But yes, the exchanges work fine if you can get it there. How many of the existing 16M coins have been able to be transferred yet? That’s a lot of water behind that dam. And the minute the mystery buyer takes his finger out of the dike, you don’t want to be downstream.

      Run for your lives, if they don’t pull off the cryptocoup, it is worthless.

      • Sure thing, “Prof.” 😂😂😂😂😂

        • Prof X

          I can tell by your avatar that you represent free markets and are not just some shill for the man. 😀

          • Indeed I do. It’s why I support and continue to hold both bitcoins. I have my reservations about both big blocks and segwit. I plan to sit back and see what happens. So far, I’ve made about 10000% on my investment.

          • Prof X

            Then try to show me what you see. But again with causation. Your success in the past shows experience, I applaud it, but each scenario is unique. Why is it the same now? Why will it go up? Just because it is bitcoins sister? What if she is uglier? 🙂

          • It’s not a game to me. I HODL. It’s not the same now. There are two separate bitcoins now. One has segwit. The other doesn’t. One has an artificial 1mb limitation. The other doesn’t. There are also political issues, but I’ll steer clear of those.

            I do not currently wish to pick a winner.

      • sjs

        BCH up 64%, this is turning out to be a terrible investment. I am content with such a small return. 😉

        • Prof X

          Just my guess but I now think:
          1) Smart folks like miners and Coinbase et al were on a supported exchange and sold right away driving it down from $800 to $200.
          2) Deep pockets bought and held it at exactly $200 with low variance for a day to show a trough.
          3) Coinbase (and others) bought it up to pay their dividend after seeing that trough so it jumped to $350 and has started the natural trickle down pattern again.

          This is way too risky for most investors without inside information.

          I worry now about all bitcoin. How many forks will we have? Is that a threat to my long term BTC position?

          • sjs

            A guess is just a guess. Post fork I am considerably less nervous, the opposing camps will not use the nuclear option. They are angry, greedy and jostling for dominance but they are not insane. The next time an escape to Alts will not be an option, that strategy has now been proven a failure by empirical reference. No pain, no gain. PS What is your criterion for ‘smart folks’?

          • Prof X

            Ethereum took off and has the greatest return across the fork of anything, and is fairly predictable. But didn’t it fork once too? Fork that.

            I want a coin that can’t fork. Is that even possible while still maintaining decentralization?

          • sjs

            ETH experienced a short term, overdue increase which has now abated. BCH/BTC is a different dynamic and is likely to remain fluid for some time. Alts should have picked up again by now but have not. The interest will now remain predominantly with BTC/BCH, more volatile, unresolved and more suitable for risky trades – my preference.

          • Prof X

            You would be better off going to a casino and not hurting real BTC with the fear of future forks.

          • sjs

            You would be better off not offering gratuitous advice as you know precisely zero about my motivation and financial position.

          • Prof X

            You told me your motivation when you said “risky trades was your preference”. The same odds as blackjack unless you are an insider. Not for me. Slow and steady wins the race.

          • sjs

            I told you about my preference not my motivation.
            You are too good for me, genius.

          • Prof X

            Thank you, I don’t know for sure, but I do have a good bullshit detector.

            So I ask questions and when I smell that smell, I push back with more questions or humor if it is obvious politics.

            Do you smell that smell?

          • sjs

            Wanker

          • Prof X

            You just want me to buy that Bcash crap that scares the BTC herd with forks cause you own it. No thank you. Insiders will profit at my expense. It is not a level playing field. I have to run uphill against a small controlling group and probably a central bank.

          • I ended up blocking the asshole.

          • Prof X

            Ooh that sounds painful and bad for the colon!

            You both insulted me first so don’t mess with me ladies or I will make you cry like a little girl and then block me.

            I did stand up for a decade and miss the hecklers. You guys are fun to tease cause you wet yourself every time.

          • sjs

            Tell me about it, there’s one born every minute. This one is an anus maximus.

          • Prof X

            Everytime you PBoC cryptocoup trolls talk about Bcash and start complimenting each other my asshole puckers cause I know I’m about to get forked! 🙂

          • Prof X

            You insiders down at the ministry of disinformation are fooling nobody with your Bcash scam. Your emotional name calling is propaganda 101.

            A successful investor would laugh with me, or at me, because he is happy and prosperous. Those are the mentors I seek.

        • Prof X

          I can show 300% return on all my investments if I measure the right time period.

          Did you lock in your gains with a sale? That is the day we will celebrate your success. 😉

          • sjs

            I conflated all my Alt coins into BCH when BCH was just over $200. The result presently is considerably over 64%, that was last night’s increase on Crypt Currency Market Capitalization. Prices are fluid and could go either way, no need to ‘celebrate’ anything and hubris comes just before the fall.
            I don’t need approval for a simple logical decision that did no more than unravel a previous hedging move that did not provide the expected outcome ie escape to Alts to avoid serious collateral damage due to the unknown consequences of the fork. So far those losses have been recovered and I will make my own assessment on BCT/BCH which may be to do nothing at all – for now.

          • Prof X

            Did you cash in or are you just talking smack? Ethereum did the best.

            Anyone who goes all in on one thing either has inside information, or should just go to the casino and dance with the one-armed bandit.

          • sjs

            What do you mean by ‘cash in’, conversion to fiat? I do not convert to fiat as it would trigger a capital gains tax event. I am not in need of fiat funds. In any case, that’s enough detail. Create your own coin that ‘doesn’t fork’ and live happily ever after.

          • Prof X

            Convert to any other asset to lock in gains. I can calculate taxes, I have a computer. Use your IRA to invest if that is your concern. 😉

          • sjs

            What are you talking about? I have had about enough of your pseudo intellectual arrogance. You assume far you much and know far to little. Now do us both a favor and sign off. Your silly retorts and superfluous advice is unwanted. Good by.

          • Prof X

            I ask a lot of questions and I guess you don’t like me questioning your proclamations? I always say “I think” so that experienced analysts will show me the facts and trends they see. Nobody knows for sure. Just the facts ma’am, I don’t need the marketing.

            Please feel free to stop replying to me. You’re allowed.

          • sjs

            Thanks, pompous ass.

          • Prof X

            You’re welcome my friend. I understand, you like risk. The herd does not, and I want to be just in front of the herd.

  • TroyH

    Mining is already so power inefficient. Now some cunt is wasting a huge amount of energy for no reward to make sure that the system is inefficient and wastes more power. Fuck you whoever is doing this.

  • Prof X

    One way to spot trolls is that they work in groups where one will “cheer” the other, but not really say anything. “Way to go comrade”, ” You said it friend! “. Probably double boxing down at the ministry of trolls. They will make provacative statements designed to evoke an emotional response and pull you away from any intellectual thought process.

    • Prof X

      Another way to spot them is when one users dialect suddenly changes. It usually means he was doing poorly and the supervisor had to step in and start using that account to fix the mess. 🙂

  • Use your imagination, folks. Who’s the arrogant minor with something to say about bitcoin cash?

  • The difficulty rating has fallen, and bitcoin cash is currently more profitable to mine than bitcoin:

    “The Bitcoin Cash blockchain is currently operating at 17% of the original chain’s difficulty.”

    “It is currently 108% more profitable to mine on the original chain.”

    cash(dot)coin(dot)dance/blocks

  • It is healthy to slow down, in fact keep the difficulty up!
    Low difficulty = Low Security!
    61% of hashrate in the hands of an unknown pool/miner means they “own” the network.
    Segwit includes the fix to the maleability weakness, the 2 devs working on BCrash stripped it away and BCrash already was under maleability attack…
    How can I trust this altcoin?
    At least Charlie Lee renamed his own Bitcoin fork to Litecoin and did not pretend to the notoriety of the King of Kryptos’ name!

  • Min Kim

    If handling BCC/BCH on the right way, it can provide so many advantages for the coin market.
    (1) doubling the capacity of BITCOIN
    (2) absorb the difficulty shock (only miner knew it)
    (3) increase the profitability and absorb the halving shock.
    I do not understand some very stupid behavior.

    • Prof X

      It hurts decentralization because it is all currently mined in one place and appears subject to manipulation,.

      Money grab by the 3 big miners “who knew it.”. Since I do not have the same insider information they do, the risk for me is way too much. Those ” who knew it” will win at my expense.

      Why would I not invest in other high return, more predictable, less manipulated, less centrally controlled options?

  • Prof X

    How many other forks in the future? Do we keep doubling the number of bitcoin every time a group of miners wants a quick profit? Is this a weakness of bitcoin? Will this hurt the long term value of my bitcoin investment?

    Kill this snake quickly and send a message to those who would do it again in the future, hurting the value of all of our current real decentralized bitcoin.

    I may go buy ether and litecoin instead because I see a problem now with all bitcoin.

  • Prof X

    It does and if you played it yesterday kudos to your insight. But Mr. King below elightened me when he asked if the owners of Coinbase & others sold early high to buy back low then pay the dividend later.

    Bcash should be a slow trickle down as people gain access, at least a portion.

    Just my guess but I now think:
    1) Smart folks like miners and Coinbase et al were on a supported exchange and sold right away driving it down from $800 to $200.
    2) Deep pockets bought and held it at exactly $200 with low variance for a day to show a trough.
    3) Coinbase (and others) bought it up to pay their dividend after seeing that trough so it jumped to $350 and has started the natural trickle down pattern again.

    This is way too risky for most investors without inside information.

    I worry now about all bitcoin. How many forks will we have? Is that a threat to my long term BTC position?

    Could bitcoin be MySpace with the Facebook of crypto still to reveal itself?

    I am impressed with your insight and success. I just want to know which direction the herd will move, without moral impunity.

  • Prof X

    Thanks! Not facetious, but I am also wondering what analytical technique or research of those numbers might reveal those big moves.

    Cause when the whales are humpin the dolphins better get out of the way.