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    Friday, March 30, 2018

    Home Unlabelled BTC Most, if not all, of the people who understand economics have left the BTC community for BCH leaving knuckle dragging economic views like this to drive the direction of Bitcoin.

    BTC Most, if not all, of the people who understand economics have left the BTC community for BCH leaving knuckle dragging economic views like this to drive the direction of Bitcoin.

    March 30, 2018

    BTC Most, if not all, of the people who understand economics have left the BTC community for BCH leaving knuckle dragging economic views like this to drive the direction of Bitcoin.

    Most, if not all, of the people who understand economics have left the BTC community for BCH leaving knuckle dragging economic views like this to drive the direction of Bitcoin.

    Posted: 29 Mar 2018 04:42 PM PDT

    This crusade against ASICs and Bitmain is getting out of hand

    Posted: 29 Mar 2018 06:19 PM PDT

    I've lost a little faith in /r/CryptoCurrency after seeing this post on the frontpage along with many of the comments. This post is clearly shilling for Vertcoin and the "You're either with us, or you support them!" mentality doesn't invite meaningful discussion. Giving ultimatums is only going to do harm to the community and turn this into another unproductive argument just like it did with the block size debate. This is not what we need!

    I wanted to address a few of the concerns in the aforementioned post.

    • ASICs centralize the network and puts power in the hands of a few.

    There's one thing many people don't seem to understand - it is in the miners best interest to keep things decentralized. This is why Bitmain not only uses its miners but also sells them to the general public. Creating an overly centralized network and thus reducing its security would result in a huge decline in its value. Why would Bitmain want to do this considering they have vast amounts of crypto?

    • Let's change the PoW algorithm to make all the ASIC miners obsolete.

    We've reached a point were everyone takes the security of the network for granted and doesn't realize that the reason for this security is largely due to ASICs. Changing the PoW algorithm would dramatically reduce the hashing power and security of the network in the short term and leave it vulnerable to attack.

    There is also nothing stopping from Bitmain or anyone else from creating an ASIC for the new algorithm. Hard forking every few months to change it would be the only way around this.

    • Coins that are ASIC resistant are the way to go!

    There's no such thing as ASIC resistance. There's nothing stopping someone from amassing 1000s of graphics cards and creating mining farms with those. Would everyone be as upset if Nvidia started their own mining farm?

    • We should switch to PoS

    Suggesting moving to PoS for decentralization sake makes no sense. You are simply transferring power from those who invested thousands in R&D and took a massive risk to start developing ASICs to Joe Schmo who forgot about the Bitcoin he bought in 2010. I'd rather trust the rich people who had to work hard than those who got lucky.

    I posted this on /r/CryptoCurrency but I don't meet their karma requirement :( Feel free to repost!

    submitted by /u/AroundChicago
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    Binance is now accepting BCH deposits with only 2 confirmations.

    Posted: 29 Mar 2018 07:55 PM PDT

    Not sure how long it is like this, but I just deposited some BCH and it takes only 2 confirmations.

    The withdrawal fees are still absurdly high though, also in Bittrex.

    BTW bittrex is now using standard 1 sat/B.

    submitted by /u/rdar1999
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    We were around $18,000 away from Segwitcoin... now it's only around $6000. They've got bigger problems - they're a store of value, we never promised that. We just promised to be the best electronic cash this side of the known universe. Programmable cash. We're achieving. They're losing hard.

    Posted: 29 Mar 2018 09:29 PM PDT

    Fun fact: did you know that Greg Maxwell was a LITECOIN miner and even coded for it from the day of launch??

    Posted: 29 Mar 2018 11:22 PM PDT

    You can find that he had GPU farms in bitcointalk forum much prior to litecon launch, while it was being marketed as "CPU" mining. He had powerful rigs.

    At that time, in one week some people mined thousands of coins because it started out with big hashing and the difficulty didn't increase for 2016 blocks. Blocks were being mined much faster than 2.5 minutes. Guys with rigs from day 1 certainly mined tens of thousands of coins, even hundreds of thousands. So, it was a good trade-off stopping mining BTC for that period, which was getting saturated by these GPU farms already, and mine LTC as a bet.

    He is mentioned performing stress tests and talking about LTC, but apparently the posts were deleted. He is mentioned but the posts are not to be found. You can find those citations and the facts of last paragraph in bitcointalk's litecon thread.

    Here is he mentioning it en passant. Also here.

    These are just some things strongly hinting at it.

    Now, what do you think about Gmaxwell coding for litecon? Here His code to increase mining income for litecoin was a couple of days after the launch, hmmm.

    What do you people think about these things? Share your thoughts.

    submitted by /u/rdar1999
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    Guide to Being An Unoriginal Core Troll

    Posted: 29 Mar 2018 03:39 PM PDT

    1. Make a concerned post expressing worry for BCH proponents during this bear market. Observe how far BCH has fallen in price while conveniently ignoring how far BTC has fallen in price.
    2. Make post #1000000 asking why this sub is called r/btc when so many posts are about BCH.
    3. Make a post about how you're a big fan of BCH but you dislike how much control Roger Ver has over BCH.
    4. Make a post pretending you or someone you know accidentally bought BCH instead of BTC (crypto beanie babies) and that we as a community should feel bad about this.
    5. Make a post about how low BTC fees are after months of the fees being egregiously high. Imply that the current relatively low fees mean there is no point for BCH anymore. For bonus points imply without evidence that Segwit + batching is what lowered BTC fees and not the BTC hype-cycle dying and people no longer caring to transact with BTC. Bury your head in the sand if anyone tries to refute anything you say in this thread.
    6. Make a post about how Lightning's "Beta" release demonstrates that all concerns about lightning that anyone ever had on this sub were just FUD and there's no reason for BCH to exist anymore because LN + Segwit + Batching will fix all of BTC's scalability issues for the foreseeable future. Since you probably lack the technical ability to understand LN or anyone's grievances with LN combat anyone's replies to you in this thread with outlandish claims like "Using a gossip protocol to do routing is scalable to millions of users" or really any other lie that takes way more effort to refute than it does to pull out of your ass.
    7. Make a thread about how BTC will raise the blocksize in the near future to degrade BCH's competitive advantage. Ignore the problems presented by the fact that Core has leveraged an enormous amount of propaganda and rhetoric to convince their community that no blocksize increase will be necessary until at minimum the far future, and that a blocksize increase should be avoided at all costs due to the evils of hardforks and the necessity of a fee market for security and layer 2 incentivization. Ignore that everyone in the BTC community who would have supported a blocksize increase has been driven away by years of abuse.
    8. Get banned from rBTC after relentlessly trolling the sub with multiple usernames like FuckRogerVer, BitcoinXioIsAJerk, BcashFuckingSucksAndYouGuysAreCucks and then make a bunch of whiny posts on rBitcoin, rCryptocurrency, or even rBTC itself about how unfair it is that you were banned and how heavily rBTC censors.
    9. Make an apples to oranges post about how LN node count exceeds BCH node count. Pretend this matters even a little bit.
    10. Something something Fake Satoshi BCash lol
    11. Bcash bcash bcash!
    12. Why buy BCH when you can buy LTC?
    13. Dogecoin does more transactions than BCH. You guys should just buy Dogecoin lol!

    Can you guys just save everyone some fucking time and cite numbers on this fucking list rather than a whole bullshit spiel? I am sick and tired of how unreadable the new queue is because of the same lazy trolling efforts over and over again. I want to live in a world where RogerVerIsYourDarkLord just makes a post titled "2" with no text and we all know to just ignore his post because he's just trolling about why this sub is called rBTC.

    submitted by /u/Zectro
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    David Hay explains his idea for cryptocurrency donations to fleeing refugees to convert a border town to a cryptotown

    Posted: 29 Mar 2018 10:02 AM PDT

    So I went to NYCs first ADA meetup tonight... (BCH related)

    Posted: 29 Mar 2018 08:51 PM PDT

    I bought some Cardano/ADA after watching a few vids and thinking might as well, #5 market cap and it was only a dollar at the time. Saw this meetup group apparently started by the creators of the coin so I thought it would be a good opportunity to learn about it and actually understand how it worked. (I'm still completely clueless as of writing this) I have a good grasp of bitcoin so I thought I'd attempt to understand ADA. The first people I met there turned out to be the developers that gave the presentation. I asked them about their thoughts on bitcoin/bitcoin cash and one guy said there's no reason to pay attention to bitcoin cash. Clearly hasn't done his due diligence looking at it, which surprised me a bit. Also seemed triggered by my mention of the history of BCH and my questions about the validity of block size increases. The presentation sounded like pure fluff/techno babble that no one understood. They didn't even mention how ADA actually worked with the stake leaders or whatever I watched in explainer videos. There was discussion on scaling in the q&a and their solution was basically have a bunch of small blockchains for niche use cases..... I asked what was wrong with bitcoins original scaling road map which is being applied with bitcoin cash. Aka just raising block size. Their answer was something like it's not a solution it's just a delay.. and mining gets centralized.. I pushed back asking about the 51% attack and they conceded saying that wouldn't actually happen because it's against miners self interest.. so I asked then why is mining centralization bad.. they said it's not.... stumped with long pauses.. welll governments can take over mining and censor people's transactions.. then someone from the audience says transactions would just get delayed but they would get through eventually by random chance with bigger fees etc. something along those lines.. then topic changed back to their projects. So to me it seems like there's a lot of heads in the sand about Bitcoin cash. I had a feeling anything that isn't BCH is just hyped up fluff and this meetup confirmed it for me.

    submitted by /u/ElectronBoner
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    The Cash Version of Bitcoin

    Posted: 29 Mar 2018 06:39 PM PDT

    I got tired of saying bitcoin cash so I started calling it the cash version of bitcoin.

    One is the collectible version. One is the cash version.

    I love using the cash version.

    submitted by /u/standard_RG
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    The red haired guy who lives in Osaka who went to the Satoshi's Vision conference in Tokyo

    Posted: 29 Mar 2018 11:38 PM PDT

    I remember your name but don't want to dox you. I never got your contact info. We are having a sort of impromptu bch meetup here in Osaka tomorrow while some of the attendees are in town. If anyone knows his reddit name or is also in Osaka and would like to come for dinner tomorrow PM me please.

    Thanks.

    submitted by /u/cheaplightning
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    Coinex has 0 withdrawal fee for BCH from the beginning, if you want to trade your favorite coins against BCH, ask them to list it!

    Posted: 29 Mar 2018 08:53 PM PDT

    Newegg Enables Cryptocurrency Payments for Canadian Customers

    Posted: 29 Mar 2018 06:27 PM PDT

    "It's pretty crude, but each channel takes about 500 bytes, and each node about 150 bytes. For the first few thousand channels, that will work fine." - Lightning Network Dev (official Github spec repo)

    Posted: 29 Mar 2018 11:44 PM PDT

    Apart from Lopp where are the techies at Consensus 2018? Satoshi's Vision was full of techies giving speeches. This looks like banksters and blockchain-is-the-tech-not-bitcoin idiots who don't know a distributed database is a far cheaper solution. Oh there's Starky the LN woman too. Shite.

    Posted: 29 Mar 2018 08:47 PM PDT

    Bitcoin (BTC) is a ghost ship, large and formidable....

    Posted: 29 Mar 2018 07:16 PM PDT

    I guess you could call this "inno"..vation by Halong Mining?

    Posted: 29 Mar 2018 05:38 PM PDT

    I've found their Achilles heel

    Posted: 29 Mar 2018 04:32 PM PDT

    I think everyone who supports BCH needs to really drill down into why they believe in this technology. If you don't understand the white paper or why proof of work secures the network by punishing attackers and rewarding honesty - you need to do some digging.

    To break people out of the matrix we need to be able to convince noobs and those who are still open minded that the concept of "every user running a full node" is not only a lie, but anti-bitcoin. This is not a difficult argument to win. Usually all you have to say is "if my home node disagrees with a mined block, my home node is powerless to change the contents that block".

    I know we're allergic to talking points around here but we should get in the habit of saying the words "a non mining node does absolutely nothing to help decentralize or secure the bitcoin network".

    submitted by /u/Sk8eM
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    Operation NextGen, the project to encourage future use of Bitcoin Cash

    Posted: 29 Mar 2018 05:38 PM PDT

    It occurred to me recently that people involved in cryptocurrency are firmly entrenched in their religious beliefs, and can't be changed. For example, brainwashed, "blockstreamed" BTC fanatics will not consider any discussion about Bitcoin Cash, invoking "bcash", "scam", "lightning", etc. They are a lost cause. But there is the next generation of new, technologically literate youngsters that will become interested in crypto in the future. That is, the early teenagers, who mostly all have phones and are gamers and computer users, but have not yet been exposed to the "bcashers". Those people are the potential future Bitcoin Cash users. I propose using a service such as CoinText to send $1.00 worth of BCH to any teenager you know, maybe your kids or nephews, to get them interested, and be able to educate them about Bitcoin Cash, before the "bcashers" get to them. For example, after the CoinText beta launch, i showed my son how to receive $0.50 to his phone, after which i explained how i used BCH to send money to @eatBCH to help feed poor Venezuelan people, for a fraction of a cent, in a matter of minutes. Operation NextGen.

    submitted by /u/5cabbages
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    Bitit.io adds BitcoinCash support "You can now buy these coins by credit card, cash or wire transfer using more than 14 fiat currencies"

    Posted: 29 Mar 2018 08:32 AM PDT

    At what price Bitcoin Core will be unprofitable to mine? What price would certainly lead to hash rate dropping? BCH's DAA will adjust quickly but what about BTC? Going to halt?

    Posted: 29 Mar 2018 04:25 PM PDT

    What are your thoughts?

    submitted by /u/tralxz
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    PSA: GDAX is Increasing BTC/Fiat Trading Fees For Most Users from 0.25% to 0.30% - Pretends to Improve Fees in Blog

    Posted: 29 Mar 2018 08:59 PM PDT

    Bitcoin Cash to be Listed on Cobinhood, Zero Trading Fees Exchange, Today.

    Posted: 29 Mar 2018 06:59 AM PDT

    MailChimp deleting accounts related to crypto.

    Posted: 29 Mar 2018 01:36 PM PDT

    I send a small crypto newsletter to a group of friends to keep them informed of major changes in the cryptocurrency world. I don't sell anything or offer investment advice. Today MailChimp sent me an email advising this was now against their policy and my account would be closed. https://imgur.com/s26Mtrx

    submitted by /u/anothertimewaster
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    Seems I have an imposter

    Posted: 29 Mar 2018 06:01 AM PDT

    Capital I instead of lowercase L

    submitted by /u/ErdoganTalk
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