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Thursday, August 24, 2017

BITCOIN THEFT BY MINERS

*****Open Source THEFT of BITCOIN*****

*****CRYPTO TERRORISTS*****

BITCOIN HAS BEEN HIJACKED


The MINERS are hoarding BITCOIN

25% TRANSACTION FEES for BTC

Miners (many from China and Korea) are stealing BITCOIN through 25% TRANSACTION FEES and are hoarding Bitcoin to corner the market.  They don't want you to have your BITCOIN. If you have any BTC you will now pay dearly to move it and the miners now can steal as much BTC as they want in this OPEN SOURCE OPEN THEFT blockchain:

You'll notice there's NO LINK here to any official news story on this.  I learned this through those telling me what it costs all of the sudden to move their BTC.  So if you move 1.0 BTC YOU LOSE 25 % CHI CHI.  Maybe the miners will just decide to steal 50% soon or just all of them?

There is no LEGAL SYSTEM in this SYSTEM OF TRUST.  DEVELOPING TRUST?

...developing...

2 comments:

  1. Sounds like you've bad information there man. Let me help you out :)

    The old' Bitcoin is expensive to transact because there is a limit on how many transactions that can occur on the network per 'block'.

    - This works out to be around 3 transactions per second on Bitcoin.

    Because of this limit, users have to compete to get their transaction on the blockchain... Users who pay more can get it done faster.

    Bitcoin Developers don't make any revenue directly from Bitcoin, so they are fighting to set up a system where they can profit from Bitcoin Transactions.

    They want to achieve this by restricting the number of 'on chain' transactions, so they can create and force users onto 'sidechains' which will have you lock funds, setup a payment channel with a central hub (ie Bitcoin BANK) and give you 'instant' 'off chain' transactions, collecting fees...

    The miners are not the bad guys because they have no control over this.. The people who write the code for Bitcoin do ! The miners job is to run the code that the Bitcoin Developers make and verify transactions.

    How this is being solved ???

    Bitcoin Cash solves this problem by increasing the limit of transactions to 30 per second ! It did this by hard-forking to upgrade to 8MB blocks (vs. 1MB blocks on the old' Bitcoin).

    Over time Bitcoin Cash will upgrade to 16MB, 64MB and beyond when it is needed.

    Keep an eye on Bitcoin Cash because if this Segwit2x Hardfork in November has issues, then a lot of the Bitcoin Community will move over to Bitcoin Cash... Businesses that rely on fast and cheap payment methods won't stay on the old Bitcoin chain long term due to high fees and slow conformation times.

    Here is a comparison Website between the two blockchains.
    Cash Vs Core:
    https://cashvscore.com/

    ReplyDelete
    Replies
    1. Average Fees as of Current (24/08/17):

      Bitcoin
      $17.62 per Kb

      Bitcoin Cash
      $0.001 per Kb

      Referenced From:
      https://cashvscore.com/

      I hope you find this information useful, god bless

      Delete

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