/biz/ - Business & Finance

The true implementation of Satoshis vision™ :

>>10531503

>>10531495
theres no such thing as chinese knockoff in crypto. its literally open source. theres no brands no rules. who ever has majority support and utility will be most valuable. obviously now btc has the most support but that doesnt mean it wont change later on in the future

>>10531512
>>10531513
Snore

>>10531495

JUST KYS RETARD FAG

If bitcoin fails everything else does. and cryptocurrency is not going to fail. the UN is behind bitcoin

>>10531495
BCH:
+ Approximately 100 transactions / sec
+ Non-reversible transactions allow for instant acceptance by merchants (0 conf)
+ Difficulty is adjusted every block
+ Scales on-chain
+ Always includes all tx input scripts in the blockchain
+ Most of the people that made Bitcoin what it is today now support Bitcoin Cash
+ Big exchanges added support for BCH almost immediately
+ Have larger scripting capabilitiess
+ Works as described in the original Bitcoin whitepaper

BTC:
+ Approximately 5 transactions / sec
+ Transactions can be replaced to return your payment back to yourself
+ Difficulty is adjusted every 2016 blocks, adding risk of complete freeze if miners leave
+ Tries to scale off-chain but nobody knows how routing will work (Lightning Network), will eventually need a backbone of hubs
+ Removes tx input scripts from the blockchain on non-SegWit nodes, relocates them on SegWit nodes
+ Controlled by Blockstream, denies code that don't align with the company vision
+ Got to keep the original ticker symbol
+ Several opcodes are still disabled in scripting
+ Not meant to be used as cash, claims to be a store of value

>>10531610

Bitcoin is digital uranium. Your opinion is invalid

>>10531512
can someone explain this picture to me?
second time i see it and it makes zero ense to me... unless thats the point....

>>10531623
oh yeah? well i happen to like Overlord. though it was most fun in season 1, kinda weird in season 3

>>10531648
there is cash written in the white paper and bch had cash in its name so it's the real bitcoin

>>10531680
i get that part.. but "structure"?? ...

>>10531609
>If bitcoin fails everything else does.
By what mechanism?
A lot of shit relies on ethereum, but only bitcoin relies on bitcoin nowadays. I guess there's the omnilayer, so tether does rely on bitcoin, and a few other things. Nothing crucial though.

Bitcoin maximalists are pretty deluded. Omae wa mou shindeiru to be desu.

>>10531686
maybe they are trying to infer that Q is Satoshi

>>10531704

Didn't you hear? Bitcoin is too big to fail. We need government bailouts to keep the archaic bitcoin network afloat

>>10531495
How is it fud? Their complaints are the same as yours you brainlet lol

>>10531710
*from the way he writes. seems like a stretch to me

>>10531704
i just wish the stupid bots would just go away, every time bitcoin moves, bots sell or buy all other cryptos, its a self fulfilling prophecy

>>10531648
It's gaslighting. Who are you going to believe, your lying eyes, or some shady cunts?

>>10531725
I hate that too. Bitcoin being the most used intercrypto trading currency has to go. Properly audited stablecoins, and reasonably well thought out smart contract based ones (like maker dai) can be a suitable replacement for the time being.

>boomers
boomers in the crypto world missed out on bitcoin, so they own shitcoins, alts, and "forks" of bitcoin, and will defend those to the death, while writing off bitcoin as "ancient", "dinosaur", "outdated tech:, and completely misunderstanding cryptocurrencies.

if they had just gotten in early, or even not so pathetically late, they would be able to look at things neutrally, instead of with massive regret and delusional.

>>10531772
Time to move with the times

>>10531784
in the world of crypto, shitcoins like 0x"BTC" are so monumentally irrelevant that unless you're rich enough to pump and dump it yourself you've done nothing but lose time and money by owning it.

>>10531805

>he doesn't understand the importance of the first minable token, and programmable mining

Research before you get left behind.

>>10531784

The future is now, brother.

>>10531772
only reason why altcoins have so much space now is because BTC have refused to improve. if you just sit there someone else is going to take the crown.

very surprised BTC almost went back to 50% market dominance this week though, i guess people just escape back to what they think is a safe harbor

>>10531805
Sorry I’m not convinced. Why are you telling me to buy into a dead old dinosaur at 150 billion market cap when I can buy this lovely fresh young thing at 2 million market cap?

Do you even know how to invest?

>>10531853
your cynical shilling of a useless shit token that is distributed by proof of literal waste makes me pretty sure that if there was a button that if I clicked it you would instantly die, I'd click it. At least proof of work is involved in validation game theory solving the nothing at stake problem. 0xbitcoin is an affront to humanity.

>>10531934

Mining establishes a soft price floor. Spent value = imbued value. Mining also ensures fair distribution. Minable tokens can't be dumped on simply because the creator decided to gift himself half the supply -- unlike pretty much every ICO'd coin.

>>10531805
You don't have a say since you obviously don't understand what 0xBitcoin is doing and is all about. Lava network with Lava wallet can be used with any erc20 token. ETH does not interact with smartcontracts, but erc20 tokens do. It had no premine or ico. It has the same fundamentals as Bitcoin, but it's built on Ethereum. It's a fun project with passionate devs who constantly communicate on the discord. It allows ETH to go proof of stake without worrying about a token used for store of value.

Bitcoin friggen gold started at over $400 when it was listed on CMC. How in the hell does this not go higher and get more miners migrating? Ethereum is never going to die.

>>10531995
Mining doesn't establish a soft price floor. Think about it. If you make a cardboard car in a very inefficient way and it costs 400k to make, are you guaranteed to have buyers at 400k?
There's such a thing as selling at a loss.

The only thing that's guaranteed to happen when price goes under mining profitability is that people who have higher mining operating costs stop mining and then there's more reward to share among the miners who still mine.

There's nothing inherently more fair about pow distribution. An asic company had a secret monero asic for a long time, as was evident when they forked to a new algorithm and the vast majority of hashrate disappeared. Mining rewards also tend to reward early miners much more than later miners, similar to ICO sales that go in rounds with increasing price.
Mineable tokens can definitely be dumped. People who mined early can always dump at a profit if the price kept rising. Airdrops even can be more "fair" depending on how it's done. Or faucets. It's never really "fair" though. One public ICO round with mass awareness tends to be "fairest" distribution in the end. Maybe unfair gains for the creators of the coin, but they could for example distribute it with an ICO via a smart contract that burns everything they recieve and automatically dispenses the new token in return. Can even accept only a stablecoin to reduce volatility of the token price in ICO to USD levels.

Also if you're aware of all this and you're arguing in bad faith, please do neck yourself.

>>10531495
t. retard that doesn't know why r/btc came to be

>>10532166

It does in the sense that miners will be very reluctant to sell below their electricity costs, which is why I said "soft" floor. You are correct that if there is a zero demand -- I.E. the coin/token doesn't have any utility -- PoW is not going to stop it from plummeting to virtually nothing. A cardboard car is worthless to everyone. I think 0xBTC does have utility, so I'm not worried about this.

PoW is "fair" in that those who put in time and money receive reward, and those who do not receive nothing. Coins/tokens are distributed via transparent code, not the whims of their creators.

>Mineable tokens can definitely be dumped. People who mined early can always dump at a profit if the price kept rising.

Absolutely, but it's usually unlikely that a single person will be able to crash the price. The price of ICO'd tokens is in thrall to the token's creators.

>One public ICO round with mass awareness tends to be "fairest" distribution in the end. Maybe unfair gains for the creators of the coin, but they could for example distribute it with an ICO via a smart contract that burns everything they recieve and automatically dispenses the new token in return. Can even accept only a stablecoin to reduce volatility of the token price in ICO to USD levels.

Out of curiosity and the interests of discussion, do you think if Bitcoin had been distributed solely in this manner it would have caught on? (Putting aside the necessity of PoW to secure its network, which obviously 0xBTC doesn't share.)

>>10532338
>Out of curiosity and the interests of discussion, do you think if Bitcoin had been distributed solely in this manner it would have caught on? (Putting aside the necessity of PoW to secure its network, which obviously 0xBTC doesn't share.)
No, but that has nothing to do with fairness. The appeal of the bitcoin distribution mechanism was fun and not having to have to use an exchange to obtain them. Everyone with a CPU could easily get a bunch and play around with them. It was a smart move for adoption in the early days by the tech interested.

>>10531495
>So one group is literally a Chinese knock off that poses as the original, including inappropriately using the domain bitcoin.com and reddit /r/btc
Don't forget that the faggot Roger Ver also tried to buy off the moderators over at /r/bitcoin and that he has hijacked the bitcoin twitter handle.

both bitcoins disgust me

>>10531495
literally this shit again...
bcash has spent 10s of millions of dollars to damage crypto as a whole
it's most likely a CIA project hiring Gavin CIA Andresen and lessening the punishment on ver and calvin
it's fucking sad they tried to convince everyone another criminal scammer is satoshi and they don't stop

they make these threads every fucking day it's unbelievable their consensus of code is absolute shit, 100k+ free bcash mined outside distribution times with multiple EDAs triggered
fuck you niggers seriously

>>10531495
>>10531495
>>10531512
>>10531513
>>10531610
>>10531623
>>10531663
>>10531680
>>10532674
>Cashies becoming increasingly delusional as they realize the end is drawing near.

>>10533269
we have already won