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    BTC This is how they will kill crypto

    June 16, 2019

    BTC This is how they will kill crypto

    This is how they will kill crypto

    Posted: 15 Jun 2019 11:18 PM PDT

    Reposting this comment as its own post to hopefully generate some discussion about how Bitcoin Cash can best respond to the threat of Facebook's new cryptocurrency.

    ——————————————————————————

    If we don't think Facebook's imminent crypto currency is an existential threat to decentralised public blockchains then we're being incredibly naïve. They already have Visa, MC, PayPal and eBay on board, amongst many others. This is how fiat stands up to decentralised public blockchains and strikes back.

    They will be cheaper, faster (centralised), and more reliable (instant confirmations). They will be everywhere, inside all social media, chat apps, online stores, probably soon also in most point of sale terminals at brick and mortar stores. They are reported to have 1 billion in reserve at or soon after launch.

    We need to take this seriously. This is how they will (try to) kill crypto.

    ​

    What can we do? Here are a few ideas, but please suggest more.

    1. We need to use Zuck bucks against them. If it's easy to onboard to Zuck bucks, then we need to make it as easy as possible to get from Zuck bucks to real crypto (Bitcoin Cash). This means leveraging services like sideshift.ai for in-wallet conversion to Bitcoin Cash with Zuck buck deposits. We need the conversion to be seamless and instant if we want to turn Facebook's cryptocurrency into the best gateway drug for Bitcoin Cash.
    2. Those with the most to lose by the possible failure of crypto need to double down on investment in development by (a) funding infrastructure, (b) investing in innovative startups that are trying to build out the ecosystem.
    3. The rest of us need to work smarter. This is the moment that we realise we've missed the forest for the trees. The enemy was never blockstream, or LN, it was always fiat. Now fiat is striking back. No more wasting time, effort and money on mindless debates with Bitcoin maximalists. No more whining about how the small blockers used underhanded tactics to kick our asses. We can't afford to play games anymore. We need to focus on building the best peer-to-peer cash network.
    4. We also need to work together. Will Facebook have 12 mediocre, glitchy, amateur looking wallet apps? No. If anything they will have one slick as fuck wallet app with Apple and google pay integration. They will also have seamless integration into all Facebook-based social media apps. We have tonnes of talented devs working on different wallet projects, but this diversity also means our efforts are divided. We need to roll out fast, stable, secure, SIMPLE, wallets with full functionality, brilliant UI. We need a UX that is better than fb. That's going to take cooperation. We need to get rid of addresses, and seed phrases, whilst retaining full security and ownership of private keys if we're going to win over the normies. There's lots to be done and I'm not sure we can achieve it without dividing the labour.

    This is the real deal. It's the battle that's been coming for 10 years, and the truth is we're far from ready for it. We need to get our shit together and that starts with taking it seriously.

    submitted by /u/CatatonicAdenosine
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    I call out u/todu for false propaganda

    Posted: 15 Jun 2019 05:17 PM PDT

    Please read this text: https://www.reddit.com/r/btc/comments/c0ydhy/deadalnix_join_me_as_i_do_everything_in_my_power/er9692o/

    If you leave u/todu's reality distortion field, you will realize the BU leadership has made the earliest and most significant criticisms of BSV and nChain.

    It started with Peter_r's independent assessment of the Emin's selfish mining paper and Wright's "rebuttal" of it (https://bitco.in/forum/threads/wright-or-wrong-lets-read-craig-wrights-selfish-miner-fallacy-paper-together-and-find-out.2426/). Peter continued with the first discovery of plagarism in Wright's papers (https://twitter.com/PeterRizun/status/983752297363660800?s=19).

    On a technical level, I have rebutted nChain/Wright's hashchains tokenization proposal https://medium.com/@g.andrew.stone/hash-chain-tokenization-criticism-382c2f4fe0fb, and his and and Ley's claims of turing decidability or completeness: https://medium.com/@g.andrew.stone/why-bitcoin-cash-script-is-nearly-useless-and-what-to-do-about-it-b47adbfeceec. I have also debunked smaller claims, such as Wright's claim that we were running out of opcode space (but will not take the time to find that link now).

    Simultaneously to some of our most critical work, we have a photo of ABC dev Amaury Sechet schmoozing on a yacht with Craig Wright (https://imgur.com/a/rL3ozam). BU was not invited.

    I challenge u/todu to rebut my claims with a similar body of work written by ABC leadership criticizing BSV/nChain work.

    While BU's work is comprehensive, professional, and constitutes the foundation of much of the community's concerns with BSV/nChain, what I believe you will primarily find by ABC representatives is immature trash talking on social media.

    If u/todu cannot provide a similar body of work by ABC, then let him be exposed as a lying ABC propaganda mouthpiece.

    It has probably taken me 100x the time to gather our work here for your review than it takes u/todu to write his destructive, poisonous fallacies. Why did I bother? Unfortunately, this is not the first time he has done this. So if he is unable to provide this evidence, please respect my time by regarding his past and future "contributions" to this community with skepticism, and the appropriate RES tag.

    submitted by /u/gandrewstone
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    Australia's travelByBit policy of prioritizing BTC settlement systems over Bitcoin BCH electronic cash systems for merchant Point-of-Sales backfires with merchants switching exclusively to Bitcoin BCH

    Posted: 15 Jun 2019 05:35 PM PDT

    Help push merchant adoption!

    Posted: 15 Jun 2019 05:06 PM PDT

    Deadalnix: Join me as I do everything in my power to make Bitcoin Cash the Peer to Peer electronic cash we all say we believe in.

    Posted: 15 Jun 2019 08:18 AM PDT

    How Lightning Network actually works.

    Posted: 15 Jun 2019 04:30 AM PDT

    Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

    Posted: 15 Jun 2019 04:28 PM PDT

    Tokenfaucet.org is back up !

    Posted: 15 Jun 2019 11:29 PM PDT

    For everyone who is being fed the lie that BCH was recently 51% attacked, read this Coinbase blog to understand that the reality was that 51% of the miners came to defend BCH from a hostile attacker.

    Posted: 16 Jun 2019 12:08 AM PDT

    We went to Slovenia, and were amazed by it's beauty and how crypto friendly it was.

    Posted: 15 Jun 2019 09:22 AM PDT

    Soph blowing up with over 50 Bitcoin Cash donations!

    Posted: 15 Jun 2019 11:29 AM PDT

    Trade BCH Tokens on Memo.cash the social network built on BCH

    Posted: 15 Jun 2019 06:13 PM PDT

    why Facebook coin wont work ,,, my take

    Posted: 15 Jun 2019 10:22 PM PDT

    1, bitcoin was born out of the chaos of 2007 recession , the idea was that of a permission-less p2p sound money with limited supply and NO single point authority control

    ​

    1. bitcoin was nurtured by people with no incentive. it grew on forums, meetups ,boards, email lists ... the devs and coders had no financial incentive as such . it was the passion for the idea that made them work for it . people went to jail for it

    ​

    1. bitcoin is open source. the idea is open source. people can agree to disagree and move on, fork and make a better bitcoin ( for eg, bitcoin cash , ethereum etc ) . this is the beauty of crypto currencies. the market is open and free, its chaotic yet dynamic and that breeds competition and a better product

    ​

    1. bitcoin had use cases , first the dark net, then mainstream, people use it to hedge, now institutional ... the idea of decentralized currency with no control is too attractive

    ​

    it took a decade for bitcoin to get from nil to today prices of 9000 USD .. it stood the test of time

    -----------------

    ​

    facebook coin

    ​

    1. made by a corporation that is known to work with govt . stealing users data / profiting off it
    2. fb is too late in the game... what are they even trying to achieve ? what problem they are solving
    3. it s being developed in a 'sanitized lab' under guidelines vs bitcoin which was raised in a 'jungle' ....
    4. ultimately, fb coin will be centralized ( like ripple )

    ​

    ​

    ​

    you choose!

    submitted by /u/mohtasham22
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    Thank You, BitPay, for making honest disclosure. It matters. I know shady manipulators don't like this. But as a consumer I appreciate your transparency every time we meet.

    Posted: 15 Jun 2019 08:48 AM PDT

    Is Lloyds Bank UK crypto-friendly?

    Posted: 16 Jun 2019 12:44 AM PDT

    Does it block Coinbase for example?

    submitted by /u/segovius
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    For those of you suggesting that Bitcoin was meant to be regulated

    Posted: 15 Jun 2019 11:10 AM PDT

    I can't believe how someone can go against the very core principles of Bitcoin and still call himself a bitcoiner.

    Please, stop. When you want your freedom back, come here again.

    submitted by /u/LeoBeltran
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    Hours After Report of Hong Kong Whales Moving Wealth, Chief Executive Caves

    Posted: 15 Jun 2019 12:54 PM PDT

    Comment the most tragic experience you've had this year, and then post your SLP address below.

    Posted: 15 Jun 2019 08:53 PM PDT

    Just for fun. Participate if bored

    submitted by /u/FalltheBanks3301
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    Bitcoin and Friends | Episode 2

    Posted: 15 Jun 2019 03:14 PM PDT

    My Worry About BCH

    Posted: 15 Jun 2019 09:55 PM PDT

    I love bitcoin cash, and I love that it's money and "digital gold".

    Bitcoin made the (false) choice of being "digital gold" only and not money.

    Stablecoins like USDT/USDC/Facebook Coin are money only.

    But what if stablecoins win for money and bitcoin wins for "digital gold", and BCH being both... doesn't win either. Are there any (important) synergies in being both, really?

    submitted by /u/zhoujianfu
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    Bitcoin is Gold; it is meant to be spent exactly like gold would in an ideal world: hand to hand, infinitely divisible, directly between us. People say it has no intrinsic value, I disagree. Essentially, Bitcoin extracts the value of gold used in the processors built to mine it. It digitizes gold.

    Posted: 15 Jun 2019 04:32 PM PDT

    Only Bitcoin Cash allows you to use this spendable-gold property, natively. No need for any form of centralization nor a trusted third-party such as with Lightning Network.

    Facebook, Bitcoin Core, and every other currency out there is never Bitcoin: on-chain, spendable gold, with 0 trusted third parties and fully unstoppable.

    Welcome to Bitcoin, motherfuckers.

    submitted by /u/wisequote
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    Sell all your Bitcoin and other cryptocurrencies for Facebook bounties representing funny fiat money (disguised as SDR)- NOT.

    Posted: 15 Jun 2019 01:45 PM PDT

    We're entering the last stages of an epic fight. The old money aristocracy by now know that the writing is on the wall; their days in position of power are numbered.

    Everything will be tried to defraud the owners of real cryptocurrencies in order to keep the illusion of power. They know from decades of expereince, that deceiving is better then pressing. They figured out, that they more they (op)press, the more they lose grip.

    If anything use the news, to educate people about the properties of real cryptocurrencies.

    Counting on Facebook (a dying network) shows some desperation already. Make those billionaires and dynasties happy by selling your worthless p2p sound money for Facebook SDR - NOT!

    submitted by /u/gr8ful4
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    This week in Bitcoin Cash June 9th - June 15th, 2019 ����

    Posted: 15 Jun 2019 06:01 AM PDT

    Token sold on Memo today.The proceeds (1 BCH) will be forwarded to a Bitcoin Cash Development Fund project of his choice!

    Posted: 15 Jun 2019 07:12 AM PDT

    what is this error. topology was destroyed

    Posted: 15 Jun 2019 08:29 AM PDT
    Read more
    at

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