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RE: I ran a test of Bitcoin vs Bitcoin Cash on FEES & TRANSACTION TIME
This is not an accurate way to test.
You don't know when the exchange actually initiated the transfer. Just because you hit the withdrawl button on an exchange, that doesn't mean the withdrawl transaction is immediately initiated.
An exchange will wait until it has a build up of funds to transfer and then perform the actual transaction with all of them at once (to save on fees).
If you really want to compare the two then you need to send coins between two wallets that you control. That'll give you an accurate picture.
I'd recommend you try it again between your own two wallets and then post your results. I bet they're much different.
Thanks very good post @sydesjoke !!!!
Awesome Work!
Keep it up!!!
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I am shocked—shocked—to find that gambling is going on in here!
You're being nicer than I will be. This article was a pile of turd; done with no real research, by a total amateur in the field. The median BCH transaction fee in December was 2 minutes long and was 2 pennies. I've done hundreds of tx and the money is usually there almost instantly, with some confirmations finishing 5 minutes later. For him not to realize that wallet to wallet is the only way to really test speeds, and to have done this from an exchange, it's absolutely a joke.
I don't feel like he's intentionally misleading people, he just doesn't have the full understanding of the space yet. When he posts stuff like this on Steemit, where the community knowledge level of the crypto space is higher than most other places, he's going to very quickly have inacurracies pointed out and as a result will learn.
The more folks we have learning about crypto and the space, the better.
He has made over $200 for his post compared marc five cents worth. I am new to steem and I recently bought some steem power. I think a lot more coinbase customers like myself would buy more steem power if they allowed you the option to buy it with the bitcoin cash that was given to bitcoin holders recently. Thats my two cents in. Happy Christmas and looking to get more involved in 2018.
True, but this is a reflection of the large amount of followers that he has built, which in turn generates a large amount of reward for content. He has spent a long time building up a user base and now, at this point, anything that he posts will be rewarded at a high level because of it, even when the content isn't that great. Networking is a big part of Steem, you'll actually find that it often plays a much bigger role than the actual content when it comes to rewards.
You're definitely right about that.
Welcome to the platform, I hope you enjoy it here.
As Eddie Murphy said in Trading Places. I believe I can hang out with you fellas. Looking forward to learning and sharing in 2018.
LoL
Screw people who are trying to learn and post the question publicly, right? I mean, it's not like someone else might learn from their mistake.
I would cosign that suggestion... but wouldn't want you to pay those fees again... maybe just test out a BCH transaction... Likely 5 minutes or less.
The real problem is that Pakman is a novice who want to pretend that he is knowledgable. Pretence is something that you want to aware of when it come to agenda setting personalities.
Well worth the $200+ in upvotes for posting this incredible analysis ;-)
I think that it is an accurate way to test. In general we are only interested in the user end experience. So the user end experience is the only part that needs to be tested. But you are correct that there are more accurate methods to test the inner working of the transfer.
What is the end user experience? Someone buying and selling coins on a specific exchange? Internal trades happen almost instantly. Someone paying something online with their Android wallet? They come in many flavors. Crypto is not yet at a stage where someone can use it without actually having to learn at least something first.
Appreciate your thoughts, but the reason that statement is wrong is because (as his title states) he is testing BTC and BCC transaction times. This test is not accurate because he is using a control group as a consistent (the exchange) that he has no control over.
It's the same as saying "I'm going to test which airplane is better by seeing which one makes it to my city first. Ready, Go!" Obviously whichever company gets the plane off the ground and into the air first is going to have a headstart on getting their model of plane to you first.
So really he's testing the company not the product. If his title were "How do Bitcoin and Bitcoin Cash transactions compare when sent from ABC Exchange?" Then it would be a more accurate test. And even that test would be worth about nothing because you'd have to collect a ton of different data points before a true average set in.
If that's the case, with this test, your subject is the Exchange not the coins and as such no opinion at all should be drawn about said coins. That's not what's being tested here.
Really? Which other ways do you think its the best?
Estou pensando em realizar um teste desse modo, obrigado pela dica!!