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What I think makes Bitcoin Bitcoin, and why I think Bitcoin Cash is Bitcoin by rogerkver

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· @rogerkver ·
$118.45
What I think makes Bitcoin Bitcoin, and why I think Bitcoin Cash is Bitcoin
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<p>https://www.youtube.com/watch?v=vufeM92bfJw&amp;t=</p>
<p><br></p>
<p>Be sure to subscribe to my <a href="https://www.youtube.com/channel/UCZyrn1awtEVne0bdryfuI6A">youtube channel</a> and follow on <a href="https://twitter.com/rogerkver">Twitter</a>.</p>
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vote details (67)
@agcrypto · (edited)
In one of my recent post, I wrote about a recent report that talked about how two whales did a transaction for 99 million dollars in LTC in a single transaction costing the sender about 40 cents and with the transaction only taking about 2 minutes and 30 seconds to complete. So if anyone didn't want to use BTC, I don't understand why they would not simply just use LTC which has proven itself to be a solid currency for years.
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@the-ego-is-you · (edited)
LTC is great for many reasons, but it will have higher and higher fees as well if developers don't do something about it. This combined with RBF policy could give the same bidding war that happened in Bitcoin SL "Core" (BTC) and would prohibit using zero-conf transactions. It also has SegWit, which is not always considered good by those investing for the long term. 

Starting off as a memecoin similar to Doge, it doesn't share the same transaction history and interest as the two large Bitcoin forks. Nor does it have a highly developed ecosystem and hashrate.
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vote details (1)
@cryptoiceman ·
$0.43
What's the story with the $BCH shuffle project? is it going o have 'mixer' attributes?
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vote details (2)
@the-ego-is-you ·
$0.16
It does. Or rather there are independent servers running it. I suggest you search r/BTC on Reddit for the sites.
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@cryptoiceman ·
$0.15
Hell yeah! ..I love to hear this. Thx
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vote details (1)
@dhouse ·
$0.11
hey @rogerkver, isn't it a problem that in order to scale to, say, Visa level number of tps, you'd see block sizes and the size of the blockchain become so huge it would be require huge servers??
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@the-ego-is-you · (edited)
$0.64
No, that's not actually a problem, or more precisely it's not a complete roadblock but a 'problem' already considered in the original design that should be mitigated over time if  scaling on chain is just seriously considered and tried. I can recommend a few resources. 

First read Satoshis own writing and the design paper in particular.  Satoshi was actually very clear on how to scale and even in the paper he released there is briefly a plan laid out on how to facilitate it.

Gavin Andresen tried re-explaining this many times before becoming isolated and eventually pushed out from the upper echelon of the developer community around the official client. At the very end he made several moves trying to decentralize development by launching competing clients, realizing that likely Satoshi had been wrong in expecting only one client to be enough for the network. You can see what he had to say [here](https://archive.is/urzdV). He has since made casual contributions in the Bitcoin Cash community.

In order to scale the blocks to very large size, technologies displayed at several of the past Bitcoin and now Bitcoin Cash conferences can be used. Even without technologies such as advanced pruning etc, this can likely be done without endangering anyone who wants to run an advanced SPV or so called "full node" - which does not actually count as a node per the design - on their computer as a hobbyist or for extra security in transactions.

[This article](https://www.yours.org/content/bitcoin-cash--memo--and-the-public-goods-fallacy-7861b7dee557) explains some of the potential hurdles to different sorts of onchain use cases and how to mitigate them even if we can implement almost inconceivably large blocks (past several terrabytes just to begin with).

I could go into much greater detail of how Bitcoin was designed to function, but please ask this question in the r/btc subreddit or to developers on r/bitcoinabc if you want a more thorough answer.
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@dhouse ·
$0.68
thanks for the long answer!
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@jomeszaros ·
$0.07
![BigBlock.jpg](https://steemitimages.com/DQmcghdGyH46CzNB4Jkx6L3x16QmQNXzCQiTPp1YBz45GMt/BigBlock.jpg)
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vote details (3)
@dhouse ·
$0.11
i totally understand the appeal of fast and cheap transactions. but i dont get this whole "we are bitcoin" thing. It's clearly been decided by consensus that bch is not "called" bitcoin. cant you just be your own thing and be ok with that? bch can stand or fall on it's own merits, who cares if it is called bitcoin or not. it's a silly detail you are harping on
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vote details (2)
@the-ego-is-you · (edited)
$0.03
You can call it Bitcoin Cash or Bitcoin BCH. It's not a big deal. People will know what you are talking about. 

But there's a point to be made here, that if the old Bitcoin recourses such as the Bitcoin.org, the old Wiki, BitcoinTalk and r/Bitcoin had not been manipulated and if the pre-scheduled scaling roadmap as per the Bitcoin design had been continued without introducing SegWit, the fork would never have taken place.

Then there was the swamping of Twitter and Youtube with automated "bcash" spam etc, but that's a different chapter.
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vote details (2)
@gtrplayer ·
Bitcoin Cash has moved up sharply in recent weeks.  Dr. Craig Wright has said that major announcements will be made in May.  We'll see if BCH continues its move up.
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@the-ego-is-you ·
As a user and community member, I personally don't want to see Craig Wright anywhere near it. His "contributions" so far are incredibly limited and his past and the promises made in private to publicize proof that he was Satoshi that he then didn't deliver on has negatively affected the careers of several community members.
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vote details (1)
@gtrplayer ·
$0.14
I was making a general comment, not endorsing what CSW has done.  If all for BCH improving regardless of who's involved.  Why did you downvote me for making a general comment?
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vote details (2)
@jackemon01 ·
I appreciate your commitment.
best of luck sir.
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@lloydrough ·
$0.23
From an investment point of view I dont think it is a good idea to confuse the 2 securities. May the best technology win!
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vote details (3)
@munawir123 ·
Nice posti nya,saya suka cara berkarya anda,@rogerkver
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@netulia ·
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👎  
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@rajuyadav ·
$0.05
Never got a reply from you on twitter.
👍  ,
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vote details (2)
@the-ego-is-you ·
While a take a less pragmatic approach to the question Roger, I end up agreeing with you. Bitcoin Cash/Bitcoin BCH is a Bitcoin. 

In my opinion it is also "the Bitcoin". Just not the Bitcoin most people know as Bitcoin/Bitcoin SL/"Core" etc.
👍  
👎  
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@transisto · (edited)
$24.77
# #1 What actually makes Bitcoin Bitcoin? 
Limited supply. **BCH FAIL!** (One more ALT pretending to be money)
Decentralized mining,  **BCH FAIL!**
Decentralized development,  **BCH FAIL!**

# #2
![](https://steemitimages.com/DQmYJZe8cYzu4Tv4Sxox9FAfzmQhgWpnXmnjRBQAaYVVRp9/image.png)
So the whitepaper talk about bitcoin being made of metal coins or paper notes?  Cash is a product of the fiat based reserve system. It's origin and fundamental have little to be proud of.
This argument is a total distraction and if anything an appeal to authority fallacy. Why would you give a bad semantic point a weight of 5?


# #3
 Transaction fees are used to protect the network from spam attacks and "Low" is subjective.  If your chain is not worth attacking transaction fees are most likely to forever stay low.

# #4
 Block-time are the exact same on both chains. 
# #5
 BCH is by no mean more reliable than BTC, It has less proof of work and is thus less secure, It will also be more exposed to volatility as a result of being an alt-coin with much lower liquidity.
# #6
 BCH sacrificed decentralization for being able to scale from an extremely low tx/s count by 2-8x fold.  Segwit IS a more efficient blocksize increase for those willing to use it.
# #7  
 Replace-by-fee flag has always been an opt-in and has the result of delegitimizing any miner Bitcoin miner from favoring a newer high fee transaction over another. Zero confirmation transactions are thus safer and more reliable than on BTC than BCH.
# #8
  You may be right on that one, but nobody cares about the inner technical semantic when the outcome is the same.
Weight = 0.001
# #9
 Bitcoin has scripting ability, Op-code were disabled for security reasons, See ETH mutiple fuckups for the reasons.

# #10 
One Bitmain one vote, Covert ASIC BOOST + Patents 

BCH Has not gained any value let alone faster than BTC, It's still worth less than 1 BTC each.
👍  , , , , , , , , , , , ,
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vote details (15)
@aasha ·
please sir see my introducing post.
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@talltim ·
$7.45
Very Wrong Ver continues to be wrong.

Best writeup on the subject -- https://hackernoon.com/thats-not-bitcoin-that-s-bcash-f730f0d0a837

Very Wrong Ver would like you to believe that his ego-project is something else. He neglects to mention that there's currently a large class-action lawsuit being aimed at him over his underhanded and deceptive practices.

Lightning Network has reduced fee payments to one satoshi -- 0.00000001 and a corresponding satoshi fee as well. 

BCash hasn't had any traction, as shown by the graphs here -- http://fork.lol/tx/txs

Very Wrong Ver has gotten desperate, so now they're claiming to "burn" coins they earn in fees. Problem is, even at 12%, this number will be vanishingly small -- almost a rounding error off the remaining coins left to be mined.

There's also no proof that the coins they are sending to this "burn" address is unrecoverable, which renders the whole exercise moot to begin with.

Very Wrong Ver is going down with the ship, but you have a choice -- getting into the lifeboats instead of waiting for the "CEO" to turn this around.
👍  ,
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@the-ego-is-you ·
Name calling is how grown ups communicate nowadays?
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@transisto ·
$17.41
Roger Very wrong.
👍  ,
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vote details (2)
@the-ego-is-you ·
I honestly think you should reconsider @transisto. Bitcoin Cash is being sorely underestimated when it comes to the fundamentals.

You can find good counterpoints to every single of your contentions on r/btc and other resources. Don't mind the trolls there. Just communicate with people and be cordial and you'll get your answers.
👍  
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@jomeszaros ·
$0.06
![bcash.jpg](https://steemitimages.com/DQmX5PQ1j89pqarg7ihUf3AqKBwMnrFRcn2EN55oZwA77vx/bcash.jpg)
👍  ,
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@therealwolf ·
$0.15
I've recently used BCH for a transaction - it took about 50 minutes until the block confirmation came in and I was able to use BCH.

I know - the block time normally swings between a few minutes and half an hour - but having a waiting time of nearly 1 hour - is miles away from being a better Bitcoin.
👍  , , ,
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vote details (4)
@the-ego-is-you · (edited)
$0.76
In Bitcoin Cash no one really waits for confirmations for small amounts outside of exchanges. This becomes a reliable method of transacting because of the same reasons Satoshi outlined in the historical snack machine thread. 

The reason it stopped being used entirely on Bitcoin SL "Core" was due to the radically inconsistent fees, which were caused by artificially restricting blocksize. This was considered good because it would instead lead to much higher fees, make the original chain into a "settlement layer" and push ordinary users off the chain and onto "2nd layers" such as the Lighting Network.
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vote details (2)
@transisto · (edited)
The only time it can possibly be faster is when there is more variance.

BTC transaction fees makes BTC hashrate more stable. Like when there is 10 BTC worth of extra transaction fees, you can be sure anyone will drop any other SHA-2 coin to mine a more profitable BTC block.

This concept will become exponentially more relevant in a few halvings.
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@triptybarsha ·
I appreciate your commitment.
best of luck my dear friend.
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@traveliando ·
$0.83
@rogerkver what I can't completely understand is why with all the obvious flaws of the LN, there is still a big hope it will fix all BTC problems.
The more I look at the LN the less it make sense to me, and moreover is the obvious infiltration of big corporations that are not even hidden. 
Keep you good work man and thanks for all you do to promote economical freedom.
👍  , ,
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