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    Home Unlabelled Bitcoin Cash Economist Jeffrey Tucker: “Bitcoin Cash I expect to do very well”

    Bitcoin Cash Economist Jeffrey Tucker: “Bitcoin Cash I expect to do very well”

    January 29, 2018

    Bitcoin Cash Economist Jeffrey Tucker: “Bitcoin Cash I expect to do very well”

    Economist Jeffrey Tucker: “Bitcoin Cash I expect to do very well”

    Posted: 29 Jan 2018 09:31 AM PST

    Bitstarz, the first online casino that allowed wagers in Bitcoin and international currencies, added Bitcoin Cash today!

    Posted: 29 Jan 2018 10:20 AM PST

    Lightning Network is being built for *banks* and not for regular users. It is being pushed and falsely marketed as a solution for users. Just like they did with Segwit as being a solution to the block size issue. LN is for banks. Only.

    Posted: 29 Jan 2018 09:43 AM PST

    The "solution" of LN does not solve issues that regular people encounter. In fact it makes things more difficult. It's for banks to settle on. There is not another practical use.

    It is my belief that LN's actual intent has nothing at all to do with helping regular users.

    Look what Chris Pacia from Open Bazaar has to say:

    To be more specific:

    1) Vendors need to remain online 24/7 to receive orders.

    One of primary pieces of feedback from OpenBazaar 1.0 was that vendors did not like having to run a server on their home computer 24/7 to make sales. That requirement was a remant of the original Dark Market design and it was one of the primary things we wanted to change for OpenBazaar 2.0. For 2.0 we spent an enormous amount of time re-architecting OpenBazaar (and moved to IPFS) specifically to allow vendors to receive orders while they are offline. With the LN vendors need to remain online to provide a hash to all would-be purchasers to kick off the lightning payment. If the vendor is not online, the payment cannot be made. This would represent a significant regression in the user experience and would bring back the primary user complaint from OpenBazaar 1.0.

    2) Vendors cannot receive LN payments without a third party liquidity provider.

    If a vendor opens OpenBazaar, opens a payment channel, lists some items, then receives an order, the buyer cannot pay for the order over LN since the vendor's counterparty does not have any funds in his side of the channel to send to the vendor. The only way for the vendor to receive an incoming payment is to have buyers open a direct channel (innefficient and unacceptably expensive) or open a channel with an intitutional liquidity provider who agrees (probably for a fee) to deposit money in the vendor's channel to facilitate incoming payments. This is not a great UX and introduces some significant friction into the app (not to mention no such insitutional liquidity providers currently exist). Moreover it's difficult to calculate exactly how much money the liquidity provider should deposit in the channel. Is $1,000 enough? Hard to say. If buyers try to pay more than $1,000 worth of orders before the vendor can spend the coins out of the channel (presumably to an exchange) then the those additional payments cannot be made. This creates a weird UX where the vendor has to continually try to juggle the amount of funds available in the incoming side of the channel to ensure that there is enough liquidity to facilitate payments.

    3) Vendors will need third party "watchers".

    Since OpenBazaar users have expressed distain for a requirement to a full node to use the software, they would be left with the rather ugly solution to having to hire a third party "watcher" (which currently do not exist) to protect them from fraud.

    4) Lightning currently does not do multisig.

    Escrowed payments are a necessary prerequisit for any decentralized marketplace to function. In theory lightning payments could use 2 out of 3 hashes in the HTLC, but no software currently supports this functionality and doing so introduces dramatically more complexity on top of an already dramatically complex protocol. And it would require the moderators to remain online at all times else escrowed payments could not be made.

    5) It's not clear that LN payments will be 100% reliable.

    Whether a payment can find a route depends on how many people use LN and how they use it. If the routing paths simply do not exist or if they exist but lack the needed capacity than payments can not be made. For an app like OpenBazaar to gain any kind of sizable user base, the app (including the payment layer) needs to be 100% reliable. If this is not the case it will make the app feel broken and discourage many people from using it. At this point in time we do not know if 100% reliability in payment routing is likely or not.

    In my opinion at present time using just about any coin other than Bitcoin removes all of the above frictions and provides a much better user experience. Unless the benefits of lightning (relative to the alternatives) outweigh these costs outlined above, or they find a way to remedy the issues defined above, it doesn't make much sense to implement LN in OpenBazaar. Source

    ———————————————

    Now, look what Ryan X. Charles (CEO of Yours.org) says about LN:

    https://www.youtube.com/watch?v=Ew2MWVtNAt0

    ————————————————

    Both the above people are heavily involved with actually using bitcoin from a business point of view. They are not just casual onlookers. And they say LN doesn't work for them.

    LN is for banks. Only.

    submitted by /u/BitcoinIsTehFuture
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    Bitcoin Cash = Bitcoin for Business

    Posted: 29 Jan 2018 02:01 PM PST

    Bitcoin for Business / Secure, Cheap and Reliable.

    That should be the BCH proposition.

    submitted by /u/dukewillson
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    BitPay’s E-Commerce Plugins Now Support Bitcoin Cash Payments

    Posted: 28 Jan 2018 06:13 PM PST

    Coinbase

    Posted: 29 Jan 2018 02:47 AM PST

    Hey guys. Anyone know when coinbase will start accepting orders for BCH? I want some

    submitted by /u/Bobcharlieeee
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    Solid Explanation of LN Problems for Business Use, from a Real-World User, Who Chose BCH over LTC & BTC

    Posted: 29 Jan 2018 11:54 AM PST

    Centbee Receives Funding from nChain and “will be rolling out mechanisms for merchants to accept Bitcoin Cash payments more cheaply and securely than current bank payment systems” in South Africa.

    Posted: 29 Jan 2018 09:36 AM PST

    NIST Draft Publication, NISTIR 8202, Blockchain Technology Overview is open for review and comment. Comments can be sent to: nistir8202-comments@nist.gov and are due by 2018-02-23.

    Posted: 29 Jan 2018 04:50 AM PST

    Pump?

    Posted: 29 Jan 2018 02:21 PM PST

    Are we due a pump soon? Double would be nice. Thanks

    submitted by /u/headwrecked87
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    Challenges and Opportunities for a Venezuelan with BCH

    Posted: 29 Jan 2018 02:19 PM PST

    Cobra of Blockstream: "A few weeks ago, I received a disgusting and accusatory email out of nowhere from someone very high up their chain of command. Terrible company." Is ha shifting sides or trying to infiltrate?

    Posted: 29 Jan 2018 01:53 PM PST

    Since People are still confused about the difference between the real Bitcoin and a Segwit Coin here is Peter Rizun explaining the difference

    Posted: 29 Jan 2018 01:14 PM PST

    @iPayYouWallet is in full open beta of our #BitcoinCash implementation! Purchase anything on @Amazon with #BCH. Use BCH at @Starbucks, @eBay and more!

    Posted: 29 Jan 2018 12:44 PM PST

    Centbee, South Africa-based Bitcoin wallet and merchant payment ecosystem, attracts funding from nChain

    Posted: 29 Jan 2018 12:22 PM PST

    "Lightning Network vs. Bitcoin Cash" by Ryan X. Charles (Cofounder & CEO of Yours.org)

    Posted: 28 Jan 2018 06:51 PM PST

    PayPro – How the Banks of the Future Will Look Alike Thanks to Bitcoin

    Posted: 29 Jan 2018 07:19 AM PST

    International Blockchain Summit Moscow 2018

    Posted: 29 Jan 2018 10:28 AM PST

    So now we can use BCH in Starbucs?

    Posted: 28 Jan 2018 08:23 PM PST

    I saw the following tweet. Does it mean we can pay with BCH?? https://twitter.com/ipayyouwallet

    The vision to purchase coffee with #Bitcoin is now fully realized on @iPayYouWallet. Purchase @Starbucks gift cards instantly with #BitcoinCash while paying only ~$0.03 in Blockchain fees. #EscapeTheFees with #iPayYou! https://www.iPayYou.io #BCH in BETA

    submitted by /u/0130Coyote
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    Pyxpub - A simple webapp that displays a Bitcoin Cash address and corresponding QR code derived from an xpub key

    Posted: 29 Jan 2018 06:38 AM PST

    Bitcoin Cash – Euro Trading Pair to Be Re-Enabled on GDAX

    Posted: 29 Jan 2018 06:35 AM PST

    Which website is best to buy Bitcoin Cash

    Posted: 29 Jan 2018 04:56 AM PST

    I've been researching for hours and I've sketchy about all the sites listed. I just want something straight forward. I created an account with Coinbase, only to find that Bitcoin Cash is 'unavailable' and they don't accept transfers from Nationwide anyway (my bank), which is really annoying because it seems to be a crowd favourite and the most used.

    I'm taking my first step into the world of Bitcoin Cash so any advice on pros, cons, things to watch out for, is also appreciated!

    submitted by /u/GoddamnSuperman
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    Aida Service to Solve 90% of All Problems in the E-commerce Market

    Posted: 29 Jan 2018 04:31 AM PST
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