Some people said that Bitcoin Cash (#BCH) is real Bitcoin - it is better than BTC... While others said Bitcoin Cash is just a folk.
I read a lot but still cannot be clear.
The biggest problem of Bitcoin today is scaling (affect to the transaction fee & speed). BTC chooses apply Lightning Network (just like LTC and BTG) while BCH chooses increasing the block size. What is better? I am not sure
On the topic of lightning I liked this craight wright piece that hv_ posted. https://medium.com/@craig_10243/lightning-is-malleable-steel-is-not-4e68bfdef31While I’m very against lightning, let’s not forget Bitcoin Cash can easily implement lightning and has already increased the block size whereas BTC is sticking to 1mb blocks. Let’s also not forget BCH is less then a year old.If you are truly a diehard BCH fan, you just committed sacrilege. BCH is supposed to be the one true fork. Therefore, BCH is almost 10 years old. Since BCH has been around for 10 years, they should have their shit together. Especially since you have "Satoshi" aka Craig Wright on the team. Fair enough argument except for the fact the fork decision was not until much more recent and not at the birth of Bitcoin 10 years ago. I would say they do have their shit together but i’m always arguing with Bitcoin maximalists on the subject. |
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Some people said that Bitcoin Cash (#BCH) is real Bitcoin - it is better than BTC... While others said Bitcoin Cash is just a folk.
I read a lot but still cannot be clear.
The biggest problem of Bitcoin today is scaling (affect to the transaction fee & speed). BTC chooses apply Lightning Network (just like LTC and BTG) while BCH chooses increasing the block size. What is better? I am not sure
On the topic of lightning I liked this craight wright piece that hv_ posted. https://medium.com/@craig_10243/lightning-is-malleable-steel-is-not-4e68bfdef31While I’m very against lightning, let’s not forget Bitcoin Cash can easily implement lightning and has already increased the block size whereas BTC is sticking to 1mb blocks. Let’s also not forget BCH is less then a year old. |
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I believe Satoshis ‘true vision’ would include active development. |
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This coin is still relevant?
Not relevant, Bitcoin Cash is going for the ‘we don’t lock up 33% of the supply’ approach that you went for on June 11th when you bought ‘a ton of xrp.’ Are you the sockpuppet Ver said he never payed? vol·un·teer noun 1. a person who freely offers to take part in an enterprise or undertake a task |
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Says you and your butt buddies who wasted a URL and a whole lot of time on this. |
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This needs more recognition. |
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The technical strength of the Bitcoin Cash project team is good. Buying BCH at bargain prices is a good choice, and expect the subsequent performance of this coin.
Nice try to shill bro  Bcash lacks exactly that, this coin has no vision nor solid tech team. Roger Ver is brainwashing you. It’s not the 7 BCH development teams brainwashing anyone, it’s the one guy who is not a developer! |
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This coin is still relevant?
Not relevant, Bitcoin Cash is going for the ‘we don’t lock up 33% of the supply’ approach that you went for on June 11th when you bought ‘a ton of xrp.’ |
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memo.cash and block press are also growing much more daily. It's good to see unsensored social media on the blockchain.
I'm hoping more vendors appear on localbitcoincash. Its annoying that since January the bolivar has devalued from almost ~200,000 to ~1,000,000 bs to 1 USD. There seems to be the 'Bitcoin is saving Venezuela' fad that outsiders use, but in reality not many vendors at good rates will make make a trade less then 50$ USD from BTC to Bolivar. Of course the fee to deposit in localbitcoins is large as well in relevance to the monthly average ~4$ salary. The solution is to use Bitcoin Cash for everyday exchange for goods and services, but what is good about one bank in Venezuela is that Banco Banesco will can make bank transfers between Banesco accounts within seconds/minutes 7 days a week, this is even the case with tiny little ~$0.10 equivalent transfers.
However, the bolivar is likely to devalue by the time you spend it and its obvious Banco Banesco probably does not have the physical cash to even back these ridiculous devaluing figures as the max withdrawal in cash is usually 10,000 bs a day.
Electricity is also basically free in Venezuela if you are looking at profitability but mining hardware is out price range for most. I think more BCH faucets are relevant here, perhaps some with more monetary incentive then clicking adds.
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Proof of Stake is no better then our central banking system with the top selling of their inflated interest.
The Answer to the above issue is easy, you design a Proof of Stake System with an Ultra Low Inflation/Interest rate.  By making the rate ultra low , you assure that the system stays fair for all , and that anyone selling any amount of real value is selling from their principle and not interest alone.This ends the so called Rich only get richer myth in Proof of Stake. The Energy Efficiency of Proof of Stake verses Proof of Work can not be denied.
*Interesting enough the Miners that are rich that get richer , no one worries about in Proof of Work.*
Due to the financial costs of running warehouses full of ASICS, has Centralized Bitcoin mining to the Already Rich.For the first bolded point, this is the flaw, there is no 'assuring' that. Look at the disaster our 'trusted third party' banks have done. As for the second point in bold, the miners also SUPPORT the network and therefore deserve the fees, this is why it is called 'Proof of Work.' As for the energy efficiency argument, I've said this many times. Alternative energy is possible and if we were to take Bitcoin Cash as seriously as far a making it a globally adopted currency, billions would be invested into these alternative energy sources if the desire was there. China runs on coal and thats the problem, not Bitcoin Cash. Lets also remember how many bank related services would not be running 24/hours a day. The energy efficiency articles are often overstatements without any real factual backing. Those statistics are often kept quiet. Its important to care about the environment for future generations, but there are alternatives here. Their is no flaw, Bankers use a Loan System to Create Unlimited Sums out of thin air, of which they have completely Centralized Control. A Well Designed Proof of Stake System using ULI is Decentralized , as no one can confiscate or deny transactions like in the banking system. As far as your alternative energy , that is beyond nonsense. The alternative energy is growing at 2.6% per year max and that is projected until 2040. It is a joke, at the insane rate bitcoin is pulling power, you need a New Nuclear Power Plant running at full capacity almost on a bi-weekly basis starting in late 2019 . Due to regulatory restrictions , that is never going to happen. The more likely scenario is that World Governments begin blocking Bitcoin Mining and only allow their chosen few to receive the electricity for bitcoin mining. This gives the world governments the power to choose only those that will comply with their requests on which transactions to include in the blockchain and which address to blacklist. They may not be able to steal the funds, but they will force the miners to freeze in place anyone's bitcoin they so deem enemies of the state.  The Insane Energy waste is a security vulnerability because it further increases Centralization of bitcoin , not a security benefit as some in here so foolishly believe. In the end result , a Centralized bitcoin will be no better than a Centralized Banking System. Decentralization is the key to avoiding Government Control and Censorship from Totalitarian Regimes. Power, regulations, centralisation. At the end of the day the power is in the hands of the wealth and they will regulate the control. And it ain't gonna be zeitcoin. |
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Bitcoin Cash will soon become useless to anyone with the introduction of lightning network in the network bitcoin
Come back in 18 months. |
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Proof of Stake is no better then our central banking system with the top selling of their inflated interest.
The Answer to the above issue is easy, you design a Proof of Stake System with an Ultra Low Inflation/Interest rate. By making the rate ultra low , you assure that the system stays fair for all , and that anyone selling any amount of real value is selling from their principle and not interest alone.This ends the so called Rich only get richer myth in Proof of Stake. The Energy Efficiency of Proof of Stake verses Proof of Work can not be denied.
*Interesting enough the Miners that are rich that get richer , no one worries about in Proof of Work.*
Due to the financial costs of running warehouses full of ASICS, has Centralized Bitcoin mining to the Already Rich.For the first bolded point, this is the flaw, there is no 'assuring' that. Look at the disaster our 'trusted third party' banks have done. As for the second point in bold, the miners also SUPPORT the network and therefore deserve the fees, this is why it is called 'Proof of Work.' As for the energy efficiency argument, I've said this many times. Alternative energy is possible and if we were to take Bitcoin Cash as seriously as far a making it a globally adopted currency, billions would be invested into these alternative energy sources if the desire was there. China runs on coal and thats the problem, not Bitcoin Cash. Lets also remember how many bank related services would not be running 24/hours a day. The energy efficiency articles are often overstatements without any real factual backing. Those statistics are often kept quiet. Its important to care about the environment for future generations, but there are alternatives here. |
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BCH apparently now passes the stage of accumulation, the manipulator is gaining volumes BCH purchasing it at current price, I think the pump will be very soon
A pump in BCH is much different then any other cryptocurrency market. Given the panic debate of BTC and BCH and that the majority of cryptocurrencies are paired with Bitcoin in trading, the whole cryptocurrency market tends to crash, aside from BCH of course. What BCH needs is more trading pairs with other cryptocurrencies. |
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It's a shame to watch this type of content. You'll probably agree with me on this. Bitcoin for use of a 'store of value' or 'digital gold' or for ETF adoption is perhaps the most irresponsible use for any cryptocurrency for 2 reasons. 1. UsefulnessOther commodities and precious metals have purpose. In production create job demand and encourages international trade to strengthen the world economy. Bitcoin is mined without human use. 2. ScarcitySome argue that Bitcoin is scarce given theres 21 million that exist. But among the Bitcoin supply of 21 million Bitcoins there are thousands of Cryptocurrencies, some much better suited for the 'store of value purpose.' These cryptocurrencies can be created essentially out of thin air and cannot be compared to commodites with sentiment. Nothing will stop a powerful nation or group of individuals from creating another cryptocurrency for a store of value or 'digital gold.' For this reason, the alternative is a peer to peer decentralised cash system built to sustain a global network of transactions for individual and merchant use. This is why Bitcoin Cash exists. This 'digital gold' face of Bitcoin is hardly worth a conference and Proof of Stake is no better then our central banking system with the top selling of their inflated interest. |
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You are aware of ‘alternative energy’ ? |
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Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE. There is only one solution with enough experiance: POS So then I guess that’s the end for poor people. |
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https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.htmlBitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report “Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate). I said a few month back around $2k to mine 1 og btc... Probably going to go lower than that ( $800-$1400 possible ) The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic. To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty. The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh). S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc. True for the average consumer(miner)your prices are probably accurate. However for industrial scale miners, its not, its alot cheaper. They buy asics in bulk and get cheaper elec, leading to huge savings. Also the producers of asics are always ahead. While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest. Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general. Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo. We probably both right depending on the miner. I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting. Lets say $2700 is an average price ...that price will 100% happen for og btc and then more panic dumping can take its price lower than $2k, imo I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.  Yes, your average is plausible, and... No, I doubt big miners will ever disclose their costs  BTI vs. BCH flippening occuring ~ more miners switching to Instantcoin weeee ====> http://abe.getbitcoininstant.org:2750/chain/Instanthttps://freiexchange.com/market/BTI/BTCI think the 0.08 BTC daily volume says otherwise. Ive seen more volume at a lemonade stand. |
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Perhaps Bitcoin and other proof-of-work algorithms were created not only for global monetary decentralisation but also to encourage the use of alternative energy in financial production  |
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No, when you send zpiv the receiving address gets non-stealth piv. Spectrecoin was planning to develop default stealth addresses for all transactions (including staking rewards). This is now something the WISP project is working towards. |
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