/biz/ - Business & Finance

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>>7932334
Bitcoin CASH

>>7932771
>>7933008
What kind of meth do you smoke to have so few IQ points. Also OP its not just Cobra. The Core developers want the switch as well. (https://twitter.com/LukeDashjr/status/967504195715850247)) Bitcoin Segwit is dead. It will take the market years to complete understand, but in about 3-5 years expect BCH to be number 1.

>>7932334

This is insane, it means that the bitcoin people don't even have faith in their own champion anymore.

They want to drop ASICs, which means now they will have to be competing on the same level with every other GPU / CPU mineable coin!

>>7933328
I don't understand the difference between ASIC and SHA 256... How is ASIC not minable on GPU/CPU? what is it mined on?

>hurr

>>7932334
Proof of Stake is Satoshi's real vision

>>7933328
which means botnets and hackers can be profitable again

it's crypto dark age and a devout catholic is leading the way

humans are the worst part of this whole system
ai overlords when?

>>7933890
PoS leads to oligarchy
the wealthy have excess wealth they can stake and influence the system, the poor do not have the luxury of staking as they scrape by on income

PoW is unsustainable

>>7933762
>How is ASIC not minable on GPU/CPU? what is it mined on?
SHA-256 is the algorithm used for mining. You can mine SHA-256 on GPU/CPU, but your costs will outweigh your profits. ASIC's mine this algorithm much faster making them the only profitable way to mine. The reason ASIC's are good is that it makes it impossible for a hacker with control of a large botnet to gain 51% control over the network hashrate. So when Jihan made ASIC's and sold them to the world he completely decentralized Bitcoin by making it impossible for a state actor to control the coin. By switching away from ASIC's Bitcoin Segwit is taking control and profits away from honest hard-working miners and putting it in the hands of degenerate hackers. What's worse is that after Wikileaks and the ransomware thing it was revealed the U.S. government has backdoors into all Windows computers. That means if the U.S. government wants to it can siphon a small percentage of the GPU power from all windows computers and effectively control Bitcoin Segwit.

>>7934025
>PoS leads to oligarchy
>the wealthy have excess wealth they can stake and influence the system, the poor do not have the luxury of staking as they scrape by on income
Not to mention that in POS each staker has an incentive to orphan blocks and try and create multiple blockchains as it will increase their profit to do so, but this is terrible for users as no one knows which chain is legitimate. Because POS has no resource use dedicated to it, there is no incentive for nodes to try and keep the system running smoothly. Its called the Nothing at Stake problem.

>>7934492
But we do not want poor people to have a voice.
This leads to niggers and pajeets gaining the ability to fuck shit up.

>>7934473
thx buddy

>Bitcoin Cash

>>7934473
>few people with ASICs can mine profitably
versus
>everybody with a GPU can mine profitably
Now which one is more decentralized?

>>7935142
>javascript browser miners activating millions of computers around the globe to mine for a single hacker

>3 letter agencies with backdoors into normies computers doing the same thing

hmmmm

>>7935211
ridiculous conspiracy theories notwithstanding

>>7935247
>www.hownu.ru

If you don't comprehend the ease of access to millions of computer systems around the world is by NSA and hackers who exploit intentional backdoors, I can't help you.

Go watch Eben Moglen

>>7935247
even utorrent once included a miner into their software but removed it after people uninstalled

the user's computer was mining and sending crypto back to a utorrent controlled wallet

>>7935142
>Now which one is more decentralized?
The one in which it is hardest to gain a majority control. With ASIC's you can't gain majority control because there is no way to purchase enough ASIC's. With GPU's all you need is a botnet and you win. ASIC coins by definition of only having one use make them more decentralized. If you kill GPU based crypto's the value of the GPU's hardly drops so you don't lose money doing it. If you kill ASIC based cryptos your ASIC miners have zero value so you lose all of your investment. This is basic level bitch shit bud. Please get out newfag.

>>7932334

thinly veiled bitmain cash shill thread
fuck off faggot
cobra doesn't own bitcoin just like your boy roger doesn't own shit

sage

Have you even read the article?

> The solution is to adopt a new hybrid PoW system, possibly with a PoS combination, and choosing algorithms that are very easy and simple to build ASICs for.

This’s exactly what Decred is.

>>7935247
pls go CIA and CIA accessories