..

Bitcoin BCH Will Upgrade to 32 Meg Blocks May 15th

Written by:
Guest
Published on:
Apr/17/2018

One of the original bitcoin millionaires, Roger Ver, has won a bet demonstrating how Lightning Network (LN), supposedly designed to increase cryptocurrency payment systems speed, would fail at performing a simple task.  SCROLL DOWN FOR MORE

The Lightning Network is supposed to allow smaller transactions to be conducted on sidechains, and not on the main SegWit-Coin BTC blockchain and therefore slow down congestion.

From CoinGeek.com:

The demonstration started with a bet. Felix Weis, a known BTC enthusiast, ran into Bitcoin Cash (BCH) proponent and Bitcoin.com owner Roger Ver at the recently held Bloomberg conference in Hong Kong. The story goes that the two met at Hong Kong’s Genesis Block, an over-the-counter trading floor in the city, when Ver offered Weis a small wager. The task was simple, and should have been a sure-thing win for Weis. All he had to do was prove that the LN was able to perform the task for which it was designed.

For the bet, Weis would have to purchase a few items from the Blockstream eCommerce site. Blockstream is commonly used by SegWit Core supporters to test developments of the blockchain. The purchase would tally up to no more than $9, and Weis would use SegWit-Coin BTC and the LN to complete the transaction. If Weis won, Ver would be stuck wearing a BTC shirt; if Ver won, Weis would be the one sporting a BCH shirt.

Weis accepted, and the challenge began. Weis selected his items, made sure the purchase followed the guidelines of the bet and completed the transaction. At no time was Ver involved with the transaction, to ensure that he couldn’t manipulate the results. The pair waited for the transaction to come back as approved, and waited, and continued to wait. The transaction only got as far as ‘Pending,’ without ever registering as being approved.

Weis would later tweet out: “Paying my gambling debt to @rogerkver. A bet is a bet. Congratulations.”

GoinGeek.com founder Calvin Ayre, after learning of the results, tweeted:

Bitcoin BCH will upgrade to 32 meg blocks May 15th...days before my merchant adoption conference May 18th in Hong Kong. bitcoin works....segwit and its lighting side chains does not.

- Aaron Goldstein, Gambling911.com

Business/Financial News

The Online Casino Bookie

If you are ready to join the sports betting business, then make sure to do it right, with the right help and tools, so that you can make sure to get the best results out of it. With Price per Head, you get a golden chance to have full backup and support from a fully operative sportsbook company, with all the best tools and services, and for the lowest price and risk possible. 

Hungary: Statue Honoring Mysterious Bitcoin Founder Unveiled

Hungary: Statue Honoring Mysterious Bitcoin Founder Unveiled

An imposing bronze statue was unveiled in Hungary’s capital on Thursday which its creators say is the first in the world to pay homage to the anonymous creator of the Bitcoin digital currency.

Fake News: Litecoin Foundation Says No Deal With Walmart

Walmart had earlier disputed the claims after a number of outlets reported on the fake story.

Bitcoin is Barter, Not Money, Mexico Central Bank Chief Says

Bitcoin is Barter, Not Money, Mexico Central Bank Chief Says

Bitcoin is more like a means of barter than "evolved" fiat money, Mexico's central back chief said on Thursday, calling it a high-risk investment and a poor store of value.

El Salvador's World-First Adoption of Bitcoin Endures Bumpy First Day

El Salvador's World-First Adoption of Bitcoin Endures Bumpy First Day

El Salvador's historic adoption of bitcoin as legal tender on Tuesday was beset by teething problems, as an angry protest by mistrustful citizens, technological glitches and a dip in the cryptocurrency clouded the rollout.

Syndicate