I’m out guys: https://www.reddit.com/r/Bitcoin/comments/7g2c1l/guys_im_out/
There are a few people selling their positions now that Bitcoin has had this major rally. It leads to some memes like:
It could be the smart move, or it might not be. It’s hard to time this market.
https://www.reddit.com/r/Bitcoin/comments/7g1obm/bitfinex_refers_to_bch_as_bcash/ Apparently the tether scam was a social media campaign by Roger and Jihan as revenge for this?
https://imgflip.com/i/203ebd I feel bad. He’s being painted in an unflattering way. Out of context his remarks are pretty shocking, in context they’re not so bad.
I don’t know what is going to happen to Bitcoin cash in future, but what I am excited about is Bitcoins future. I’m going to name drop a ton of upgrades which are currently being worked on. Which theoretically put Bitcoin ahead of most alt coins in terms of tech. Most of which required a transaction malleability fix to implement, aka SegWit, which the miners successfully prevented being implemented for years now due to lack of consensus, but possibly to protect their asic boost advantage, which is theorized to be as much as $100 million a year increased revenue which SegWit would kill. How incentivized would you be, to cut your own arm off? They had to be threatened this year with the UASF movement for us to finally get SegWit. We could have possibly had some of the following upgrades if it wasn’t for people like Jihan, CEO of Bitmain and owner of the largest mining operation in the world, Roger being a close second, who is a staunch opponent of SegWit. Because of Satoshi’s vision, please.
The best and brightest in the world are currently working on the following: Schnorr signatures, signature aggregation, MAST, confidential transactions, mimble wimble, I am not making that up, drive chains, side chains, lightning network, atomic swaps, bulletproofs and rootstocks. It takes time though, SegWit was only recently introduced and 100% adoption will take a year or more. Segwit transactions are pretty cheap at times when Bitcoin Cash hasn’t taken away a lot of the hash power.
Last point I’m gonna make for a minute because this drama is so fresh. If there was only Bitcoin that existed, I may have supported Bitcoin Cash, increased centralization fears aside. However, there are hundreds if not thousands of alt coins which are cheaper and faster to use.
I feel like the more Roger raises awareness of Bitcoins failures, especially to new people getting into crypto currency who weren’t given the coins automatically, the more he shows how neither coin is deserving of #1 spot. Ethereum has better tech, and litecoin good security, and both are cheaper and faster to use. So, it’s a risky play for both chains, however he and Jihan stand to gain considerably so the risk is lessened, for them.
I would like to see a new figure head for Bitcoin Cash. One who didn’t say Mt. Gox is solvent before it went down, genuine mistake or not, and one who isn’t so obviously incentivized to shill, in his own words, his own project. Bitcoin Cash supporters should be very disappointed in him saying that in yesterdays stream, Freudian slip or no. We’re not going to replace “the man” for yet another man.
Or better yet, no figure head. Let the tech and the market do the talking. This figure head is as effective to me personally as Jamie Dimon saying to me, don’t invest in Bitcoin for your safety, use my banks instead. Roger says to me don’t use expensive SegWit coin, use my project instead. I cannot trust either of you to be neutral. You’re both to deep in the game. Whether you’ve got a point or not.
From what I’ve seen, public sentiment has been rising as the price of Bitcoin cash rises. Money is the most important thing for many people, and that’s fair enough. The centralization fears and blocking progress of Bitcoin claims are just, useless FUD at this point?
If it wasn’t for the 30% ASIC boost advantage then, and we take Rogers argument at face value that Bitcoin lost half of its market share to alt coins simply because of the fees and speed, and not because people were looking to cash in on the next Bitcoin at all, then aren’t the miners to blame for the lack of progress? Shouldn’t we be angry at them that Bitcoin only just crossed 10k today and not much earlier? Should we show the biggest mining pools the finger? Or should we now support them with their version of Bitcoin? Bitmain tried to obfuscate that they were the ones single handedly keeping the Bitcoin Cash chain alive right after the fork, taking massive profit hits in the process. I don’t feel they did that for the betterment of the world.
Let me stress this. If you buy bitcoin cash to use as an alternative to Bitcoin, to get gains or transact cheaper and faster, then that’s fantastic, congrats on the gains, and all the power in the world to you. The user. That’s where I want the power going. And hopefully it is.
At the end of the day I’d like to stress this point. YouTube is a platform for people to say what is on their minds. Simple. I am not elected as an authority on crypto. Whether you judge me to be or not. My subscriber count is based on people who liked what I was saying and would like to hear more, or I made them laugh and they’d like another laugh in future, nothing more and nothing less. I’m one of you guys, except I am standing in our spare bedroom talking into a camera right now, as some of you may do too occasionally. I’m a crypto enthusiast that learned of Bitcoin for the first time this summer. I love how cryptocurrency is giving the power from the powerful, back to the many, and I want it to succeed. I want that more then me getting rich, believe it or not. Although I wouldn’t say no to having both.
Links to some stuff I’ve talked about below.
More info on ASIC Mining: http://www.nasdaq.com/article/is-a-mining-manufacturer-blocking-segwit-to-benefit-from-asicboost-cm770504
Props ICO is getting listed on Republic Crypto: https://blog.propsproject.com/announcing-partnerships-with-coinlist-and-republic-crypto-cb64455c1dbd The actual public ICO is Q1 2018 and so is their working product. The company behind props already has millions of users and growing, so I’m hoping this project does well.
What ICOs are you looking forward to? https://www.reddit.com/r/ethtrader/comments/7g3rok/what_are_your_top_icos_for_december/ That was funny. We need more ICOs to start punching harder, to have real world use cases from day 1. Or more and more people are going to feel like this.
With Bitcoin at 10k, too late to buy? https://www.reddit.com/r/Bitcoin/comments/7fzrxk/when_people_ask_if_its_too_late_to_buy/
Shall we have a prediction. 1 ½ trillion-dollar market cap before the end of 2018? Realistic? Let me know.
Ethereum classic pump, the Koreans are behind it. Honestly, I feel that intro was so on point lately. I feel a lot are actually. Anyway, the mining reward is getting lessened soon for Ether Classic.
