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    BTC A clever way to promote Bitcoin Cash....

    December 05, 2020

    BTC A clever way to promote Bitcoin Cash....

    A clever way to promote Bitcoin Cash....

    Posted: 05 Dec 2020 12:06 AM PST

    What Are the Differences Between Bitcoin, Altcoins, and Tokens? - TheTechly

    Posted: 04 Dec 2020 11:15 PM PST

    Memo.cash is reporting HTTP Error 500 after trying to re-register with a used Memo.cash private key, is it normal?

    Posted: 04 Dec 2020 11:38 PM PST

    The future of Bitcoin

    Posted: 04 Dec 2020 11:26 PM PST

    Wanted to share my thoughts with you, my fellow experimenters, as we enter the next parabolic wave of crypto adoption by the species.

    This is a really long game we are playing here. We are literally replacing government issued currency which is over 3,000 years old. It's going to take decades to get crypto into a dominate position and centuries to deprecate fiat. It's the obvious and inevitable next step as we move to a global society and eventually a multi-planetary species.

    Did Satoshi nail it with his first shot? No, but he got pretty close, which is why he's going to be in history books for the rest of human history. He gave us a solid foundation to build upon and then gracefully departed.

    So, what are the requirements for a crypto that is going to thrive over the centuries? The organism with the greatest chance of long term survival is the one which is the most adaptable to changes in its environment. What does this mean for the different coins out there?

    First off, Bitcoin (BTC). It's the first chain and currently the biggest, but is destined to lose its dominate position in the long term if it cannot adapt to changes in its environment, specifically large scale adoption. People may collect it and hoard it like gold, but no one is going to be happily paying $100+ or even $1,000+ fees for on chain transactions. So, it will be a collector coin and a fixed memory of Satoshi's first offering to the world by namesake and ticker symbol.

    How did Satoshi propose adapting to large scale usage? When people were spamming the chain with dust transactions and encoding porn and weird crap into the chain he stuck the block size to 1 MB and commented that we can make it bigger as technology allows.

    I now have a 4 TB SSD that can read and write at 5 GB/second. Internet to my house can upload and download at 100 MB/second. We should be able to safely 10x the block size every ten years forever. That will at least give some scaling instead of nothing.

    I believe the current plan for BTC is to keep the block size at 1 MB forever and use secondary ledgers for scaling. It's the most conservative move which is the safest play early on but if the secondary ledgers do not succeed BTC will lose its position on top. It's not going to happen in the next decade but it will probably happen. A lot can change in a decade. Nokia sold 1 billion phones in 2007.

    So BTC is the most conservative coin, and now we have Bitcoin Cash (BCH) which is still very conservative but will permit some change. BCH is an experiment in a leaderless path forward. It doesn't have Satoshi to guide it or the original repo and name, but it does have the love of many of the early Bitcoin adopters and users seeking low fees. Its value proposition is a good one which basically is "we will slowly incorporate good and proven ideas." Its strength is its weakness: being willing to change. This means there will be inevitable conflict about how to change. I expect more forks over the years, but if the if the community can stay committed to giving users and miners the best experience, BCH is poised to surpass BTC over the next 10-30 years, primarily defeating it based on user fees and transaction volume.

    Then we have ETH and the other programmable coins. These are the most innovative but they are going to be the most buggy by their nature. They will very likely continue to find specific niches to fill and be very valuable, although it is hard to tell if they will become the primary coin based on market cap. Their scarcity value proposition isn't as strong as BTC and BCH.

    Lastly we have Monero (XMR) and the privacy coins which are amazing for privacy but also have the same scaling issues. The good ones aren't fully auditable which means we can't ever really trust that there are not bad actors on them duping or creating coins. If BTC and BCH can implement equivalent privacy these coins will never become the most valuable.

    TLDR: This is a long game. BTC is going to moon over the next few years but lose practical usage as fees become too unfriendly to users. BCH is poised to replace it and may also be able to replace the privacy coin use case if CashFusion and Tor integration work and get integrated into all of the good wallets. ETH will probably have more bug incidents but will create massive value by continuing to explore and open new use cases.

    submitted by /u/viresinnumeris21
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    F1® Delta Time’s “Bahrain Edition 2020” NFT Auctioned for ~US$77,414

    Posted: 05 Dec 2020 01:46 AM PST

    Help me understand Bitcoin Cash's role.

    Posted: 05 Dec 2020 01:41 AM PST

    Hi,

    First up, I own BTC, BCH, and BSV.

    I genuinely want to know in a little more detail how BCH differentiates itself.

    First, let me explain my understanding/perception of the role of BTC and BSV.

    BTC - the role is clearly to be a store of value. This is why people are buying it. Sure, it doesn't adhere to the white paper, but the market does not care and they like the store of value idea and it's working (so far).

    BSV - this is aimed to take Bitcoin back to satoshis original intent for the cryptocurrency - to be a scalable, peer to peer electronic cash system. I also understand the protocol is locked (or will be locked).

    BCH - I kind of got lost with the fork with BSV. To me, It feels so similar to BSV but with the difference that BCH does not scale as greatly as BSV? And has higher fees? I could be wrong but this is my understanding.

    So BTC is clearly differentiated, I get that.

    But I don't quite understand why one would choose BCH over BSV? And please don't bring Craig Wright into any explanation.. I don't care for that. I just want to know, technically and practically, how is BCH different from BSV aside from having smaller block sizes (and why is that anyway?). I believe BCH has more merchants using it currently? But that's just a short term stat and no advantage long term.

    So if BSV scales better and has lower fees, isn't that better as a currency? I feel like BCH is in this "middle" position somewhere, and I don't quite understand it.

    Looking forward to learning.

    submitted by /u/bbsuccess
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    Rubic Weekly Report 12/04

    Posted: 05 Dec 2020 01:29 AM PST

    Bitcoin - Boom of Bust? some of the most famous people talking about Bitcoin, can you spot the difference?

    Posted: 05 Dec 2020 12:37 AM PST

    15 facts about Bitcoin. Remember folks: not your keys, not your funds

    Posted: 04 Dec 2020 11:48 PM PST

    1. Apparently people in the community are using Honey badger as the unofficial mascot of Bitcoins .

    2. Apparently in 2010 due to a bug 184 billion BTC were produced :joy: , don't be so happy guys this error is already erased .

    3. The maximum number of Bitcoins is not actually 21 millions but actually 20.99 something.

    4. A smaller unit than Satoshi is in use now called msat!

    5. Bitcoin's uptime is covered apparently 99.99% which is supposed to be an amazing thing if a centralized body achieve it .

    6. The Disappearance of Bitcoins is actually connected with CIA when a person named Gavin actually went and complained about him. - creepy - (I don't think he would have disappeared if all he did was say good things about him)

    7. The first Faucets actually gave 5 BTC ! 5 to each visitor ( why did I not know of this before :sob:)

    8. It is only used 10% for the crime thing ! ONLY 10% ! (For people asking me to back it up :joy: " Illegal Activity No Longer Dominant Use of Bitcoin: DEA Agent. A special agent with the U.S. Drug Enforcement Administration (DEA) has reportedly revealed that the use of bitcoin in illegal activities has shrunk to about 10 percent from 90 percent previously.", Read about it first !)

    9. There are around 70 forks related to Bitcoins.

    10. Mining consumes much energy as a mid size country :sweat_smile: ( we gotta use some renewable sources soon enough )

    11. The first transaction for Bitcoins was made for PIZZA !(first time when it was used as a Currency)

    12. Lightning network can hold millions of transactions per second! ( Trust me that's good )

    13 . Since 2017 the Bitcoins have achieved higher transactions compared to PayPal related to values .

    1. You can gamble via Bitcoin online on a licenced decentralized casino, EarnBet and require no KYC in the process

    2. Ethereum's active users have recently surpassed those of Bitcoin's

    submitted by /u/TheIceMenAreBack
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