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    BTC Celebrating Permissionless Development (Two CHIPs, One Tech)

    February 24, 2022

    BTC Celebrating Permissionless Development (Two CHIPs, One Tech)

    Celebrating Permissionless Development (Two CHIPs, One Tech)

    Posted: 24 Feb 2022 03:11 AM PST

    It's now been about a year since I decided to get involved in BCH development. When I started this journey, I didn't have the knowledge required to arrive where we are today, but I was confident in my capacity to attain it as I go, and in my capacity to make noise required to get things moving! I never asked for permission, I just did what I believed needed to be done, because I wanted P2PKH tokens, which I wanted because I believed they're important for BCH future. I know I ruffled some feathers here and there and went over the top at times, but now looking back it was a fun ride!

    This was my introduction that I wrote on BCH Discord on 2021-02-14:

    Hi all, I want to help move group tokens forward, I saw the interview with Andrew and George and got excited about them, then I read up more, about both group tokens and cash tokens, and figured that while both seem like good solutions, group tokens would enable competitive advantage whereas cash tokens would be playing catch up with other blockchains. I intend to keep the group tokens idea afloat and help bring it before more eyes until either: 1. I give up or have my mind changed about them 2. They get adopted :slight_smile: I'm halfway through that document Andrew prepared and I want to use it as basis to prepare something easier to read, something higher level, that can be passed around other stakeholders and will actually get read. Focus should be on identifying stakeholders (users, businesses, miners, node operators, etc.) and what group tokens would cost them and what benefits they would provide. My intuition here is that they could provide a lot of value to our ecosystem at a small cost (slightly changing the slope of linear scaling). I have work to do to confirm or invalidate this assumption but you have to start somewhere...

    Thanks to everyone who's interacted with me since then I learned A LOT, and had my mind changed many times, in a good way, about what Group needs to be, not whether it's a good idea or not. I like to believe I did my part in opening people's eyes that it IS a great idea, one that will bring a lot of value to BCH, and through this process we've gotten really close to the idea's final shape! That's how the Group CHIP got to v6.0 and is now titled "Unforgeable Groups", because it's all about enabling something more abstract, generic blockchain "primitives" that can let builders create amazing things, at no additional cost to our network, and allow users easy access to those products through easy "P2PKH" tokens, those that can interact with contracts and be moved around as easy and cheap as BCH!

    Talking with imaginary_username over the last few months, we were trying to find a minimal set of primitives that can later enable features/products that we can't even imagine right now. We had no idea that at the same time Jason was doing a sort of "clean room design", and now that he revealed it, all I can say is - it's brilliant! It's a validation of everything we've been through! Quoting Jason:

    I claim that these primitives are emergent from the design of the Bitcoin Cash virtual machine: I did not design them to accomplish a set of "features", I just discovered they are missing.

    We were on the same track all along, on the path of discovering the same jewel in "idea space". So, now we have not one, but two CHIPs, trying to capture almost the same idea! It's like we dug 2 tunnels to arrive to the same treasure! The digging paid off! And we didn't start digging from 0, I only continued where Andrew Stone had left it. Jason did good to list all of these "tunnels", now 5 of them in total :)

    When Jason's CHIP landed, at first I was like, oh damn, 2 CHIPs now, this will spread us thin, it'll double the amount of effort required to move things forward, but on a second thought it's awesome because Jason's CHIP is really good!! It'll help more people grasp the idea, find their way through the tunnels, and make a stronger case for activating the tech, I don't really care what we call it, CashTokens sounds good to me! :) Jason's writing is much more eloquent than mine. Mine is rather messy, but the ideas got through and that's what really matters, that's what this CHIP process is all about, path of discovery!

    Thinking about how to avoid spreading ourselves thin I think I see a way: if we can converge on the same spec, we'll have 2 CHIPs making a bullet-proof case for the same thing! 2 CHIPs, one tech!

    For first step in that direction, I have edited mine to take out groupType
    (equivalent to Jason's <has\_nonfungible>
    ) into its own field to match the format. I was convinced by his rationale here. As discussion progresses, I hope to make some more edits, with the final goal of 2 CHIPs converging to a same specification!

    Two CHIPs, one tech! <3

    And then, you'll be reading whatever is more readable to you, it won't matter - it will be describing the same jewel from "idea space", and either CHIP will just be your guide to find the jewel!

    submitted by /u/bitcoincashautist
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    While governments are seizing bank accounts and assets, and inflation is at record levels, BCH which counters inflation and cannot be seized is down, while FIAT is up. So weird.

    Posted: 24 Feb 2022 05:47 AM PST

    We need more direct usage. This will provide alternative means to trade without FIAT being used at all.

    submitted by /u/Oscuridad_mi_amigo
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    Opinion: cryptocurrency cannot survive if it is to be constantly associated against the dollar.

    Posted: 24 Feb 2022 12:08 AM PST

    I myself for one am guilty for this in the past, I kept relating cryptocurrency as an investment even months back, price plummets, I grew sick and tired of the worth against the dollar. I care more now about how my crypto is my crypto, unable to be seized by authorities, unable to be taxed, unable to be having fees taken from large corporations. I now hold only BCH. I stopped caring about the $/BCH as much as I did.

    The original intention of cryptocurrency was not meant to be traded back and forth from fiat, but crypto to goods.

    Why care about price, valued against the dollar? Why can't we see crypto valued against a kilo of wheat, a pound of gold, a car? Isn't cryptocurrency a currency, as its name suggests?

    Crypto's main purpose is not to make more fiat, it's to be financially autonomous.

    Its valuation against fiat is just a measure of how strong it is to just fiat. And say, if a kilo of wheat is also worth less against fiat, it shouldn't make a difference. What matters is the people who would take the crypto off their hands for what their good is worth. And that's how a currency should be.

    submitted by /u/DrankTooMuchTequila
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    Tony and Gabriel are active in La Guaira - Venezuela, attracting new merchants who want to accept BCH as a payment method

    Posted: 24 Feb 2022 06:36 AM PST

    Watch the next BCH Network Discussion LIVE on Youtube ��

    Posted: 23 Feb 2022 11:13 PM PST

    Subtipper has just tipped the top posts for this community! [07:54 GMT February 24, 2022]

    Posted: 23 Feb 2022 11:54 PM PST

    Thanks to all posters for providing great content!

    The top posts since the last payout (~1 week) have been tipped 1 US cent per vote, or 3760 sats per vote.

    For an explanation of Subtipper and how it works, please see this article.

     

    Winning posts:

    Life of a crypto trader by u/CoinExcom

    [tip] - 1846160 sats = 0.01846160 BCH = ~4.91 USD

    . by u/SnakeDoc25

    [tip] - 323360 sats = 0.00323360 BCH = ~0.86 USD

     

    Tips not claimed within 7 days will be returned to the Subtipper fund and tipped out to future posts.

     

    To support this bot, help spread Bitcoin Cash, and encourage great content in the r/btc community, tip this post using Chaintip by including u/chaintip in your comment!

    Thanks!

    Note: this payout event was triggered by block 728703, which was mined more than 3 days since the last event and has the last three hex digits of its hash (joined as a number) strictly smaller than 7. The BCH price at the time of activation was $265.98

    submitted by /u/rbtc-tipper
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    CNBC: The Case For Bitcoin as ‘Digital Gold’ is Falling Apart

    Posted: 24 Feb 2022 06:53 AM PST

    Campaign to finance automatic tool to upload SLP tokens

    Posted: 24 Feb 2022 02:20 AM PST

    ![https://raw.githubusercontent.com/slpkode/slpkode/main/photo_2022-02-24_12-04-22.jpg](Campaign to finance automatic tool to upload SLP tokens)

    I'm creating a simple and easy way to upload SLP tokens to the token explorer. It allows for submitting tokens by providing an image and a token id Please support

    flipstarter.salemkode.com/en

    http://flipstarter.salemkode.com/en

    submitted by /u/Salemkode
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    Crypto Market Slumps in Reaction to Putin's Invasion of Ukraine

    Posted: 24 Feb 2022 06:34 AM PST

    'Gas' is a widely used term in crypto world which might be confusing for many people. Learn the crypto lingo and start transacting using Zapit wallet today!

    Posted: 24 Feb 2022 04:18 AM PST

    JPMorgan sees expensive software, recent IPOs, SPACs, and Crypto as the most at-risk sectors today.

    Posted: 24 Feb 2022 03:57 AM PST
    Read more
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