Bitcoin : il est devenu millionnaire en investissant 27 ...

DD: Predicting a Stock Leap

I wanted to share my thoughts on why I think we've been seeing these recent huge gains and a possible way to capitalize on them.
The Motivation
I too am trying to become a rich fellow autist, just like you. Usually, I'm late to the meme stock party and miss out on profits. So, I thought to myself "If I can think of the similarities between these companies, maybe I can beat the crowd and make some real wsb front page worthy shit."hopefully as gains
The Baseline Stock
As my first stock of analysis, of course, I took the latest meme stock $SPCE, Virgin Galactic. Founder Richard Branson is a multi-billionaire with the proper financial backings to make a company huge. But, I figured that is not enough drive for even the newest of new investors to buy calls/shares in the masses and the stock price to soar. With a quick background check, you could find that Branson tried sending tourists to space back in 2008. [ref] He even said he had over 250 people prepaid for $200,000 each. If that happened today, the stock would have probably rocketed to another dimension.
Even better, the market $SPCE is entering isn't controlled by a single company, leaving room for huge growth and a market with gigantic potential. Fox already reported this hype that the space market is projected to reach upwards of $1 trillion. This was even before Virgin Galactic took off in December, albeit this market cap projection included weather, Wi-Fi, shipping and logistics, television and radio rely on satellite-based services. [ref] This could be a factor.
Past Trends Analysis
It seems, especially nowadays, hype drives certain stocks through the roof. Even the slight thought of a company having a massive market cap leads to a huge response from investors. No news becomes good news for the company and good news creates huge share volumes. Most recently, $SPCE and $TSLA bulled their way to daily gains at unimaginable rates without much concrete news. Some meme stocks mentioned here do well ($AMD, $MSFT), those <10% daily gains have some premise, having solid financials to back it up. But, they do not demonstrate extreme leaps like $SPCE who hasn't even made a penny (since I'm Canadian, I should say a Nickel instead). To strengthen my original reasoning, I needed to think of other stocks that had this situation. Then, it all started to come together...
This is a list of stocks I can think of, irrelevant of their revenue, that showed the best of best short term gains and all had that similarity.
Ahead of the Party
If I want to get ahead of these parties I need to pick the $BYND or the $SPCE @ $8 before it runs up a 89.9° incline. Finding a company that has the potential to completely enter and control a market, without any actual revenue history. That's where this prediction comes in: $DEAC.
The market: Major sports betting on the US market is not yet available and this acquisition corporation plans to change that by merging with DraftKings. [ref] Before this merger was made public, CNBC wrote a huge article on the sports betting, including a market projection of $150 billion (the estimated current illegal gambling market size). DraftKings and FanDuel own 83% of the legal gambling market in New Jersey. [ref] This leads to a massive potential upside in having an IPO in the sports betting industry, projected to be $5 billion dollars.
The opportunity: $DEAC is an acquisition corporation meant exactly for this purpose. They plan to merge with DraftKings and change to a publicly-traded DraftKings. Not only is the market projected to be large, but this deal is also said to be priced in at a market cap of $3.3 billion. By the way, $DEAC is currently at an $840 million market cap. Now... I'm no mathematician, but those numbers are definitely far apart.
The challenge: While a supreme court ruling allowed any state their own legalization ability for sports betting, I believe NYC just turned down daily sports fantasy betting again. It most likely will be appealed but state legalization it is something to keep in mind. Currently, it shows 21 states have DFS regulations. [ref] Tax incentives could be a push for the other states to follow and legalize DFS regulations.
Conclusion/TLDR
There's one thing in common with these huge gaining stonks, They are breaking through to a market that's yet to be controlled. I'm not a millionaire yet, nor I may never be, but the potential upside of a $DEAC investment seems like a great way to make people millionaires, cough cough calls.
May the gains be with you all!
submitted by Dynamik_ to wallstreetbets [link] [comments]

Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today

In this post I will go in-depth on:
  1. How Tether got to be what it is today
  2. Why Tether's market cap is a lot more than 0.5% of the total market cap for crypto you see on CoinMarketCap
  3. Tether printing timing
  4. Tether reserves
  5. What could happen to the market if Tether is found to not be backed by reserves
Tether is incredibly important to the cryptocurrency market ecosystem and I've noticed far too few people understand what is going on.
Very little actual discussion of the 2nd biggest crypto by volume happens here and whenever someone starts a discussion they most often got slapped for "FUD". Tether themselves recently hired the major New York based PR firm 5W to spread positive information online and take down critics, I'm sure some of their operatives are probably on Reddit.
But its absolutely critical you understand the risks behind Tether and especially now with the explosion in reserve liability, breakdown in relationship with banks and their auditor and recently announced subpoena.

What exactly is Tether and what happened so far?

Tether is a cryptocurrency asset issued by Tether Limited (incorporated in the British Virgin Islands and a sister company of Bitfinex), on top of the Bitcoin blockchain through the Omni Protocol Layer. It is meant to give people a "stablecoin", for example a merchant who accepts bitcoin but fears its volatility could shift bitcoin into tether, which can be easier to do than exchanging bitcoin for dollars. Recently they've also added an Ethereum-based ERC20 token. Tether Ltd claims that each one of the tokens issued is backed by actual US dollar (and more recently Euro) reserves. The idea is that when a business partner deposits US dollars in Tether’s bank account, Tether creates a matching amount of tokens and transfers them to that partner, it is NOT a fractional reserve system.
Tether makes the two following key promises in its whitepaper on which the entire premise is build:
Each tether issued will be backed by the equivalent amount of currency unit (one USDTether equals one dollar).
Professional auditors will regularly verify, sign, and publish our underlying bank balance and financial transfer statement.
Tether is centralized and dependent on your trust of Bitfinex/Tether Limited, and that the people behind it are honest people. For the new entrants to this market it will be greatly beneficial understand the timeline of Tether and their connection to Bitfinex.
A brief timeline:

Most common misconception: Tether is only a small part of the total market cap

One of the most common misconception people have about cryptocurrencies is that the "market cap" amount they see on CoinMarketCap.com is actually the amount of money that is invested in each coin.
I often hear people online dismiss any issue with tether by simply claiming its not big enough to cause any effect, saying "Well Tether is only $2.2 billion on CoinMarketCap and the market is 400 billion, its only 0.5% of the market".
But this misunderstands what market capitalization for cryptocurrency is, and just how different the market cap for Tether is to every other token. The market cap is simply the last trade price times the circulating supply. It doesn't take into account the order book depth at all. The majority of Bitcoin (and most coins) are held by those who either mined or purchased for a very low price early on and simply held on as very small portions of the total supply was rapidly bid up to their current price.
An increase in market cap of X does NOT represent an inflow of X dollars invested, not even close. A 400 billion dollar market cap for crypto does NOT mean that there is 400 billion dollars underwriting the assets. Meanwhile a 2 billion dollar Tether market cap means there should be exactly $2 billion backing up the asset.
Nobody can tell for sure exactly how much money has been invested in cryptocurrency market, but analysts from JPMorgan found that there was only net inflow of $6 billion fiat that resulted in $300 billion market cap at the time. This gives us a roughly 50:1 ratio of market cap to fiat inflow. Prominent crypto evangelist Julian Hosp gives the following estimate: "For a cryptocurrency to have a market cap of $1 billion, maybe only $50 million actually moved into the cryptocurrency."
For Tether however the market cap is simply the outstanding supply, 2.2 billion USDT is actually equal to 2.2 billion USD. In order to get $50 USDT you have to deposit $50 real U.S. dollars and then 50 completely new tokens will be issued, which never existed before on the market.
What is also often ignored is that Bitfinex allows margin trading, at a 3.3x leverage. Bitfinexed did an excellent analysis on how tether is entering Bitfinex to fund margin positions
There are $2.2 billion in Tether outstanding and the current market cap of the entire market is $400 billion according to CoinMarketCap. You can actually calculate Tether as a % of total fiat invested in the market according to the JP Morgan estimate, the following table outlines for a scenario of no margin lending and 15/25% of tether being on a 3.3x leverage margin account:
Fiat Inflow/Market Cap Ratio Tether as % of total market (no margin) Tether as % of total market (15% on margin) Tether as % of total market (25% on margin)
JP Morgan estimate (50:1) 27.5 % 36.9 % 43.3 %
Even without any margin lending Tether is underwriting the worth of about 27.5% of the cryptocurrency market, and if we assume only 25% was leveraged out at 3.3x on margin we have a whole 43% of the market cap being driven by Tether inflow.
A much better indicator on CoinMarketCap of just how influential Tether is actually the volume, its currently the 2nd biggest cryptocurrency by volume and there are even days where its volume exceeds its market cap.
What this all means is that not only is the market cap for cryptocurrencies drastically overestimating the amount of actual fiat capital that is underwriting those assets, but a substantial portion of the entire market cap is being derived from the value of Tether's market cap rather than real money.
Its incredibly important that more new investors realize that Tether isn't a side issue or a minor cog in the machine, but one of the core underlying mechanisms on which the entire market worth is built. Ensuring that whoever controls this stablecoin is honest and transparent is absolutely critical to the health of the market.

Two main concerns with Tether

The primary concerns with Tether can be split into two categories:
  1. Tether issuance timing - Does Tether Ltd issue USDT organically or is it timed to stop downward selling pressure?
  2. Reserves - Does Tether Ltd actually have the fiat reserves at a 1:1 ratio, and why is there still no audit or third party guarantee of this?

Does Tether print USDT to prop up Bitcoin and other cryptocurrencies?

In the last 3 months the amount of USDT has nearly quadrupled, with nearly a billion being printed in January alone. Some people have found the timing of the most recent batch of Tether as highly suspect because it seemed to coincide with Bitcoin's price being propped up.
https://www.nytimes.com/2018/01/31/technology/bitfinex-bitcoin-price.html
This was recently analyzed statistically:
Author’s opinion - it is highly unlikely that Tether is growing through any organic business process, rather that they are printing in response to market conditions.
Tether printing moves the market appreciably; 48.8% of BTC’s price rise in the period studied occurred in the two-hour periods following the arrival of 91 different Tether grants to the Bitfinex wallet.
Bitfinex withdrawal/deposit statistics are unusual and would give rise to further scrutiny in a typical accounting environment.
https://www.tetherreport.com
I'm still undecided on this and I would love to see more statistical analysis done, because the price of Bitcoin is so volatile while Tether printing only happens in large batches. Simply looking at the Bitcoin price graph over the last 3 months and then the Tether printing its pretty clear there is a relationship but it doesn't seem to hold over longer periods.
Ultimately to me this timing isn't that much of an issue, as long Tether is backed by US dollars. If Bitfinex was timing the prints then it accounts to not much more than an organized pumping scheme, which isn't a fundamental problem. The much more serious concern is whether those buy order are being conducted on the faith of fictitious dollars that don't exist, regardless of when those buy orders occur.

Didn't Tether release an audit in September?

Some online posters have recently tried to spread the notion that Tether has actually been audited by Friedman LLP and that a report was released in September 2017. That was actually just a consulting engagement, which you can read here:
https://tether.to/wp-content/uploads/2017/09/Final-Tether-Consulting-Report-9-15-17_Redacted.pdf
They clearly state that:
This engagement does not contemplate tests of accounting records or the performance of other procedures performed in an audit or attest engagement. Our procedures performed are not for the purpose of providing assurance...In addition, our services do not include determination of compliance with laws and regulations in any jurisdiction.
They state right from the beginning that this is a consultancy job (not an audit), and that its not meant to be assurance to third parties. Doing a consultancy job is just doing a task asked by your customer. In a consultancy job you take information as true from the client, and you have no mandate to verify whether your customer's claims are true or not. The way they checked is simply asking Tether to provide them the information:
All inquiries made through the consulting process have been directed towards, and the data obtained from, the Client and personnel responsible for maintaining such information.
Tether provided a screenshots of twp bank balances. One of these is in the name of Tether Limited, and while the other is a personal account of an individual who Tether Limited claims has a trust agreement with them:
As of September 15, 2017, the bank held $60,919,810 in an account in the name of an in individual for the benefit of Tether Limited. FLPP obtained an engagement letter for an interim settlement plan between that individual and Tether Limited and that according to Tether Limited, is the relevant agreement with the trustee. FLLP did not evaluate the substance of the letter and makes no representation about its legality.
Even worse is that later on in Note 1, they clearly claim that there is no actual evidence that this engagement letter or trust has any legal merit:
Note 1: FLLP makes no representations about sufficiency or enforceability of any trust agreement between the trustee and the Client
Essentially what this is saying is that the trust agreement may not even be worth the paper it’s printed on.
And most importantly… Note 2:
FLLP did not evaluate the terms of the above bank accounts and makes no representations about the clients ability to access funds from the accounts or whether the funds are committed for purposes other than Tether token redemptions
Basically Tether gave them a name of an individual with $60 million in their account according to a screenshot, Tether then gave them a letter saying that there is a trust agreement between this individual and Tether Limited. They also have account with $382 million but no guarantee that this account holds to any lien or other commitments, or that it can be accessed.
Currently Tether has 2.2 billion USDT outstanding and we have absolutely no idea whether this is actually backed by anything, and the long promised audit is still outstanding.

What happens if its revealed that Tether doesn't have its US dollar reserves?

According to Thomas Glucksmann, head of business development at Gatecoin: "If a tether debacle unfolds, it will likely cause quite a devastating ripple effect across many of the exchanges that see most of their volumes traded against the supposedly USD-backed cryptocurrency."
According to Nicholas Weaver, a senior researcher at the International Computer Science Institute at Berkeley: "You could see a spike in prices in tether-only bitcoin exchanges. So, on those exchanges only you will see a run up in price compared to the bitcoin exchanges that actually work with actually money. So you would see a huge price diverge as people see that only way they can turn tether into real money is to buy other cryptocurrency then move to another exchange. That is a bank run."
I definitely see the crypto equivalent of a bank run, as people actually try to secure their gains an realize that this money doesn't actually exist within the system:
If traders lose confidence in it and its value starts to drop, “people will run for the door,” says Carlson, the former Wall Street trader. If Tether can’t meet all its customers’ demand for dollars (and its Terms of Service suggest that in many cases it won’t even try), tether holders will try to snap up other cryptocurrencies instead, temporarily causing prices for those currencies to soar. With tether’s role as an inter-exchange facilitator compromised, investors might lose faith in cryptocurrencies more generally. “At the end of the day, people would be losing substantial sums, and in the long term this would be very bad for cryptocurrencies,” says Emin Gun Sirer, a Cornell professor and co-director of its Initiative for Cryptocurrencies and Smart Contracts.
Another concern is that Bitfinex might simply shut down, pocketing the bitcoins it has allegedly been stockpiling. Because people who trade on Bitfinex allow the exchange to hold their money while they speculate, these traders could face substantial losses. “The exchanges are like unregulated banks and could run off with everyone’s money,” says Tony Arcieri, a former Square employee turned entrepreneur trying to build a legally regulated exchange.
https://www.wired.com/story/why-tethers-collapse-would-be-bad-for-cryptocurrencies/
The way I see it, this would be how it plays out if Tether collapses:
  1. Tether-enabled exchanges will see a massive spike in Bitcoin and cryptocurrency prices as everyone leaves Tether. Noobs in these exchanges will think they are now millionaires until they realize they are rich in tethers but poor in dollars.
  2. Exchanges that have not integrated Tether will experienced large drops in Bitcoin and alts as experienced investors flee crypto into USD.
  3. There will be a flight of Bitcoin from Tether-integrated exchanges to non-Tether exchanges with fiat off-ramps. Exchanges running small fractional reserves will be exposed, further increasing calls for greater reserves requirements.
  4. The exchanges might slam the doors shut on withdrawals.
  5. Many exchanges that own large balances of Tether, especially Bitfinex, will likely become insolvent.
  6. There will be lawsuits flying everywhere and with Tether Limited being incorporated on a Carribean Island whose solvency and bankruptcy laws will likely ensure they don't ever get much back. This could take years and potentially push away new investors from entering the space.

Conclusion

We can't be 100% completely sure that Tether is a scam, but its so laiden with red flags that at this point I would call it the biggest systematic risk in the crypto space. Its bigger than any nation's potential regulatory steps because it cuts right into the issue of trust across the entire ecosystem.
Ultimately Tether is centralizing one of the very core mechanics of the cryptocurrency markets and asking you to trust one party to be the safekeeper, and I really see very little reason to trust Bitfinex given their history of lying and screwing over their own customers. I think that Tether initially started as a legit business to facilitate the ease of moving money and avoiding regulations, but somewhere along the lines greed and/or incompetence took over (something that seems common with Bitfinex's previous actions). Right now we're playing proverbial hot potato, and as long as people believe that Tether is worth a dollar everything is fine, but as some point the Emperor will have to step out from hiding and somebody will point out they have no clothes.
In the long term I really hope once Tether collapses we can move on and get the following two implemented which would greatly improve the market for all investors:
  1. Actual USD fiat pairings on the major exchanges for the major currencies
  2. Regulatory rules on exchange reserve requirements
I had watched the Bitconnect people insist for the last 2 years that everything about Bitconnect made perfect sense because they were getting paid daily. The scam works until one day it suddenly doesn't.
Tether could still come clean and avoid all of this "FUD" by simply getting a simple review of their banking, they don't even need a full audit. If everything was legit with Tether, it would be incredibly easy to have a segregated bank account with the funds used solely to back up Tether, then have an third party accounting firm simply review the account and a bank reconciliation statement then spend a few hours in contact with the bank to ensure no outstanding liabilities are held on that balance. This is extremely basic stuff, it would take a few hours to set up and wouldn't take a lot of man-hours for a qualified account to do, and yet they don’t do it. Why? Why hire a major PR firm and spend god knows how much money to pay professional PR representatives to attack "FUD" online instead?
I think I know why.
submitted by arsonbunny to CryptoCurrency [link] [comments]

For all the newbies here: Relax, you are an early adopter, never 'panic-sell', corrections like this one are a good entry point of for 'Dollar Cost Averaging'. And no, Korea didn't just "ban" Bitcoin.

It is always a good time to buy (the real Bitcoin, not Bcash), we are NOT in a "bubble" (fiat is the real bubble), the answer is: Buy now, always Hodl in FUD times (Bitcoin has "died" many times, but Moneybadger don't care, buy the dips and never panic-sell, stuff like: "China/Korea ban Bitcoin...again!" will keep happening again and again.
Stick to the real Bitcoin through all the 'forks' and 'splits' that accomplish nothing but new mediocre, unsafe and centralized altcoins, strengthen/immunize Bitcoin and give you free altcoins to buy more Bitcoin.
All Central Powers look silly trying to control or ban it. Learn from history and listen to this absolute Boss. There will never be enough Bitcoin for every existing millionaire to own just ONE SINGLE BITCOIN, Total number of millionaires (in USD value) worldwide is around 33 million. BTC is the best money.
Also relax, you are actually an early adopter, BTC is still relatively small, mentally prepare yourself for healthy and expected market volatility/dips/corrections/"crashes" (check out this amazing 'Corrections Trends Perspective') and remember all this:
Follow this basic rules of Bitcoin:
It is always a good time to buy Bitcoin if you are hodling long term and not just for day trading, so this is a great strategy. Remember that Bitcoin has practically been up most of the time, and the road to the moon is paved with minor corrections (Bitcoin is never really "down" when you zoom-out).
Everybody parroting: "The bitcoin bubble is about to pop, not linear.
When they bring up the "2000 Dotcom Bubble collapse", tell them: I hope so! Look at these past decentralized/disruptive tech adoption "bubbles". Hyperbitcoinization is coming.
So is not farfetched to say that it will be at 100,000 by 2020, since it came from less than $1 to $5,000 in less than 10 years, and it hasn't even hit the bottom part of the exponential 'S-Curve' of adoption. Check out this great 2017 MIT study: "The Cryptocurrency Market Is Growing Exponentially". Patience pays, don't listen to most "Expert Analysts" or MSM".
Bitcoin is a Moneybadger that get's stronger and immunized with every new attack and this broad picture of its price since infancy (1 year candles on a logarithmic scale) shows Bitcoin growth is not a "bubble" but it's exponential (bigger "bubbles" every time), this old logarithmic scale has been accurate so far, as well as analysts like Wall Street strategist Tom Lee by using Metcalfe's Law: "The value of a telecommunications network is proportional to the square of the number of connected users of the system (n2)" wiki-link. He explains it clearer here.
Learn the difference between Inflation (dollar) and Deflation (Bitcoin) and just take a look at the fiat >20 trillion (and growing fast) debt clock to get a visual shock of unlimited fiat supply (vs limited Bitcoin/Gold supply). BTC is secured by the laws of the Universe.
Bitcoin has outperformed every other currency, commodity, stock and asset since its inception in 2009. Bitcoin, the Moneybadger, is the first unseizable store of value in human history, unlike gold, equities, or fiat, it can't be confiscated if stored correctly. How banks think blockchain will disrupt their industry. Check out these Bitcoin Economy and Bitcoin Transaction infographics.
Also, remember its fixed, limited supply of 21 million coins ever, there are just ~4.5 million (~20%) bitcoins left to be mined till 2140 and the production will keep decreasing ("halving") every 4 years till then. So, remember this and don't wait for the Bitcoin "bubble" to burst or for the price to drop significantly again, because you could be waiting forever:
“The best time to buy bitcoin was in 2009...”.
Don't be -- this guy
Edit: Stay away from fake "Bitcoin" stuff like "btc", "Bitcoin".com (Bitcoin.org is the legit site), Bcash ("Bitcoin" Cash/BCH), "Bitcoin" Gold, etc.
submitted by domelane to Bitcoin [link] [comments]

Subreddit Stats: cryptocurrencymemes top posts from 2018-12-31 to 2019-12-30 21:54 PDT

Period: 364.37 days
Submissions Comments
Total 1000 3412
Rate (per day) 2.74 9.34
Unique Redditors 354 1081
Combined Score 35766 8616

Top Submitters' Top Submissions

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    5. Time travel ⌛ (122 points, 14 comments)
    6. i read the whitepaper 📰 (118 points, 5 comments)
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    8. next alt season 🦖💥 (108 points, 7 comments)
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    10. Now that's what I'm talking about 😇 (103 points, 4 comments)
  2. 2877 points, 104 submissions: definitelynotdeleted
    1. I bought bitcoin for 20,000 and sold for $ 3000 (114 points, 5 comments)
    2. 18+ (89 points, 7 comments)
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    7. BTC Dominance: 69.2% (60 points, 3 comments)
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    9. Bitcoin 11000$ (59 points, 2 comments)
    10. My deposit... (55 points, 4 comments)
  3. 983 points, 16 submissions: Frix13
    1. How DARE you :D (128 points, 12 comments)
    2. Nothing can scare us anymore! 💪 😎 (121 points, 8 comments)
    3. How I imagine most of us 😅 👊 (110 points, 9 comments)
    4. Do you have the same problem? 😅 💸 🚀 (107 points, 8 comments)
    5. Just HODL guys!!! 😆 (96 points, 14 comments)
    6. Every Crypto Facebook group right now :D (85 points, 2 comments)
    7. When Moon??? 🚀 (75 points, 6 comments)
    8. Im certainly not in it for the profits, that's for sure :'D (58 points, 10 comments)
    9. What is this "profits" you speak of?! 📈 (54 points, 4 comments)
    10. Don't miss the train, Bull-market here we come!!! 😂 (45 points, 3 comments)
  4. 922 points, 23 submissions: hodlorcrypt
    1. Disgusting (95 points, 65 comments)
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    8. Lookin' for some lovin' (50 points, 3 comments)
    9. Marilyn Cryptoe (50 points, 4 comments)
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  5. 746 points, 31 submissions: cryptoparody
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    5. Crypto pump and dumps 🤑😵 (45 points, 3 comments)
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  6. 726 points, 21 submissions: cooriah
    1. Get out of fiat. (72 points, 2 comments)
    2. Told ya so. (72 points, 24 comments)
    3. Current financial situation (62 points, 8 comments)
    4. When someone asks for financial advice and you tell them about Bitcoin. (60 points, 4 comments)
    5. There will always be new people coming in with questions. (50 points, 16 comments)
    6. Feeling every dip after buying at the last peak. (47 points, 2 comments)
    7. Oh, it's such sweet trolling to say it back at the same smug, fiat statists. (43 points, 4 comments)
    8. If I had $267,000,000, I'd keep it on the blockchain. I would not trust any fiat bank to hold it for me. (40 points, 16 comments)
    9. Saying crypto is too slow and difficult for mass adoption is just like when they said nobody will carry a "cinder block" mobile phone around everywhere, and with that low battery capacity. (38 points, 6 comments)
    10. ♪Thats the way, a-huh a-huh, I like it, a-huh a-huh. ♫ (38 points, 3 comments)
  7. 701 points, 11 submissions: resonantseed
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    7. Asking shills legitimate questions (44 points, 1 comment)
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    9. Clutch your coins tight (34 points, 5 comments)
    10. Holding heavy alt bags (24 points, 1 comment)
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    1. Dollar Cost Averaging into Crypto Right Now (190 points, 20 comments)
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    5. How the US Copyright Office Filed the #Faketoshi Application (52 points, 4 comments)
    6. Countdown to Altcoin Season Like... (42 points, 11 comments)
    7. Every time Craig Wright claims to be Satoshi Nakamoto (21 points, 2 comments)
    8. TFW buying $BCHABC $BCHSV $BTG (14 points, 0 comments)
    9. When Google Knows You're Drunk And Want Bitcoin (12 points, 0 comments)
    10. ...Then You Win (11 points, 1 comment)
  9. 593 points, 15 submissions: nathanielx9
    1. Found this yesterday and thought this was funny (102 points, 5 comments)
    2. Happy Valentines Day Everyone (84 points, 4 comments)
    3. Here we go again... (73 points, 5 comments)
    4. When you decide to start day trading in a bear market (70 points, 3 comments)
    5. All I want is Ramen :/ (46 points, 2 comments)
    6. Time to reuse our 2017 memes? (40 points, 2 comments)
    7. Oof (39 points, 2 comments)
    8. Shitcoin communities be like (36 points, 3 comments)
    9. Too soon? (25 points, 5 comments)
    10. Take money from banks. Deploy the fud. Take all back (21 points, 0 comments)
  10. 472 points, 17 submissions: RideYourChart
    1. Whales (68 points, 4 comments)
    2. “Fear Of Missing Out” (67 points, 6 comments)
    3. You here also because of "technology"? (65 points, 3 comments)
    4. Paid Groups (55 points, 2 comments)
    5. "it's just correction, bro" (50 points, 2 comments)
    6. Bottom again (44 points, 3 comments)
    7. This time will be x100 for sure (18 points, 0 comments)
    8. Bitcoin in last hours: (16 points, 1 comment)
    9. Initial Exchange Offering (IEO) (16 points, 0 comments)
    10. Stop Loss (13 points, 4 comments)

Top Commenters

  1. jaggedsoft (569 points, 194 comments)
  2. Thefriendlyfaceplant (161 points, 37 comments)
  3. MD5HashBrowns (118 points, 36 comments)
  4. cryptoparody (108 points, 38 comments)
  5. parakite (83 points, 37 comments)
  6. snoop_Odin (83 points, 25 comments)
  7. nathanielx9 (81 points, 29 comments)
  8. NOWPayments (74 points, 34 comments)
  9. coinminingrig (71 points, 24 comments)
  10. ChangeNow_io (70 points, 32 comments)

Top Submissions

  1. relatable by jaggedsoft (207 points, 11 comments)
  2. Dollar Cost Averaging into Crypto Right Now by minecoins247365 (190 points, 20 comments)
  3. When you buy Bitcoin at 19K by rewardstoken (181 points, 23 comments)
  4. How It Feels To Hold Altcoins Right Now by minecoins247365 (159 points, 18 comments)
  5. You gotta believe me! by gabi9900 (155 points, 8 comments)
  6. I’ve seen some shit by ZipZapBeepBoop (154 points, 10 comments)
  7. Yup. by diegojoke88 (151 points, 15 comments)
  8. I think this meme deserved a repost by NinjaDK (145 points, 7 comments)
  9. USD vs Bitcoin by coinvvolf (139 points, 9 comments)
  10. I like guys who take big risks 😨 by jaggedsoft (137 points, 7 comments)

Top Comments

  1. 31 points: T1Pimp's comment in Time travel ⌛
  2. 28 points: Iron0ne's comment in Stock trader vs crypto HODLer
  3. 24 points: yeahnoworriesmate's comment in You have been visited by the nice duck
  4. 23 points: Pr1max91's comment in Shoulda took the money
  5. 21 points: Gforcetuga's comment in Member when ____ happened in crypto? (fill in the gap)
  6. 19 points: I_Like_Tech_Drawings's comment in Dollar Cost Averaging into Crypto Right Now
  7. 18 points: Skoopitup's comment in Dollar Cost Averaging into Crypto Right Now
  8. 18 points: Thefriendlyfaceplant's comment in Yup.
  9. 18 points: kokomeows's comment in Me rollin' up to alt season
  10. 17 points: Citizen52's comment in relatable
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Is BTC living up to the hype?

Had you invested $27 on Bitcoin when it was produced by Satoshi Nakamoto in 2009 your financial investment would now deserve over $37,000,000.
Commonly considered as the best financial investment automobile of perpetuity, Bitcoin has actually seen a meteoric increase throughout 2017 going from $777 all the method to $17,000.
Producing millionaires out of opportunistic financiers and leaving banks open-mouthed, Bitcoin has actually addressed its critics at every turning point this year and some think this is simply the start.
The launch of Bitcoin futures on December 10th, which for the very first time will permit financiers to go into the Bitcoin market through a significant regulated United States exchange, suggests that we are simply beginning.
What makes Bitcoin so important is that there is a limited quantity out there. There will just ever be an optimum of 21 million Bitcoins and unlike typical fiat currencies you can't simply print more of them whenever you seem like. This is since Bitcoin operates on an evidence of work procedure: in order to develop it, you need to mine it utilizing computer system processing power to resolve intricate algorithms on the Bitcoin blockchain. When this is accomplished, you are rewarded with Bitcoin as payment for the "work" you have actually done. Sadly the benefit you get for mining has actually reduced dramatically practically every year considering that Bitcoin's beginning, which indicates that for many people the only feasible method to get Bitcoin is purchasing it on an exchange. At the present rate levels is that a danger worth taking?
Lots of think Bitcoin is merely a bubble. I talked to cryptocurrency professional and long term financier Duke Randal who believes the possession is miscalculated, "I would compare this to numerous supply and need bubbles over history such as Dutch Tulip Mania and the dot com bubble of the late 90s. Costs are simply speculation based, and when you take a look at Bitcoin's performance as a real currency it is practically awkward." For those who do not understand, the dot com bubble was a duration in between 1997-2001 where lots of web business were established and offered insanely positive assessments based simply on speculation that later plunged 80-90% as the bubble started to collapse in the early 2000s. Some business such as eBay and Amazon, recuperated and now sit far above those evaluations however for others it was completion of the line.
Bitcoin was initially produced in order to take power far from our monetary systems and put individuals in control of their own cash, eliminating the middle guy and allowing peer to peer deals. Nevertheless, it is now among the slowest cryptocurrencies on the marketplace, its deal speed is 4 times slower than the 5th most significant cryptocurrency and its closest rival for payment options Litecoin. Untraceable personal privacy coin Monero makes deals even quicker, boasting a typical block time of simply 2 minutes, a fifth of the time Bitcoin can do it in, which lacks privacy. The world's 2nd most significant cryptocurrency, Ethereum, currently has a greater deal volume than Bitcoin in spite of being valued at just $676 dollars per Ether compared to Bitcoin's $16,726 per Bitcoin.
So why is Bitcoin's worth so high? I asked John McAfee the exact same concern. "Everything returns to the very same supply and need economics, fairly there is not quite Bitcoin offered and its current rise in cost has actually drawn in a great deal of limelights, this integrated with the launch of Bitcoin futures which numerous view as the very first indication Bitcoin is being accepted by the mass market, has actually led to a great deal of individuals following suit for monetary gain. Like any possession, when there is a greater need to purchase than to offer, the cost increases. This is bad since these brand-new financiers are getting in the marketplace without comprehending blockchain and the underlying concepts of these currencies indicating they are most likely to get charred".
Another factor is that Bitcoin is incredibly unstable, it has actually been understood to swing up or down countless dollars in less than a minute which if you are not utilized to nor anticipating it, triggers less knowledgeable financiers to worry sell, leading to a loss. This is yet another factor Bitcoin will have a hard time to be embraced as a kind of payment. The Bitcoin rate can move significantly in between the time suppliers accept Bitcoin from clients and offer it on to exchanges for their regional currency. This unpredictable motion can erase their whole success. Will this instability disappear whenever quickly? Not most likely: Bitcoin is a fairly brand-new property class and although awareness is increasing, just a really little portion of the world's population hold Bitcoin. Till it ends up being more extensively dispersed and its liquidity enhances substantially, the volatility will continue.
So if Bitcoin is quite ineffective as a real currency, what are its applications? Numerous think Bitcoin has actually carried on from being a feasible type of payment to ending up being a shop of worth. Bitcoin resembles "digital gold" and will merely be utilized as a standard for other cryptocurrencies and blockchain tasks to be determined versus and traded for. Just recently there have actually been stories of individuals in high inflation nations such as Zimbabwe purchasing Bitcoin in order to hang on to what wealth they have instead of see its worth decrease under the recklessness of its main banking system.
Is it far too late to get associated with Bitcoin? If you think in what these cryptocurrencies will provide for the world then it is never ever far too late to get included, however we recommend you look into crypto market scanners as they will provide you the best insight.. You may be much better off taking a look at Litecoin, up 6706% for the year or Ethereum which is up an amazing 7421% for the year. These more recent, quicker currencies wish to accomplish what Bitcoin initially set out to do back in its creation in 2009 and change federal government run fiat currencies.
Who understands what the rate of these currencies will be 10, fifteen or perhaps twenty years from now? Something is specific though, we much better strap ourselves in as it is going to be a wild flight.
submitted by Eleanor8762 to Bitcoinshow [link] [comments]

Just for fun, I've been going through /u/bitcointip's comments, which archives people unknowingly giving away tens of thousands of dollars in btc as tips

bitcointip
I guess it's more interesting then anything. Amusingly, a large number of the higher dollar giveaways happened on "since bitcoin skyrocketed, I'm now a millionaire" posts, which are interesting in their own right.
viper_h doesn't know "what the hell a bitcoin is or why it has value." to enlighten him, px403 gives him $1,500
gspotassassin unknowingly gives a teenager $11,500 after sympathizing with their investing dream being smashed by parents Hopefully it wasn't immediately withdrawn.
shakethatbass gives away $11,500 for giving insight into a scene from one of his favorite movies
shakethatbass gives away $172,000
LEGENDARY MartinGale888 gives a user enough BTC to pay off their mortgage. Accounting for inflation, Martin tipped SeansOutpost over $620,000.
Note: SeansOutpost appears to be a homeless charity of some kind.
submitted by Notcow to Bitcoin [link] [comments]

r/Bitcoin recap - December 2017

Hi Bitcoiners!
I’m back with the twelfth monthly Bitcoin news recap. (Yes I'll keep doing these in 2018)
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best), memeless overview of what happened in bitcoin over the past month.
You can find recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in December 2017
Thanks all for being part of the ride, it's been a great year for Bitcoin. Happy new year to you and I hope we can make 2018 even better!
submitted by SamWouters to Bitcoin [link] [comments]

Your Daily Moon Math - 2017-12-29

Go to http://MoonMath.Win for the full update and rainbow charts
Thanks for waiting so long between updates. I Haven't got automatic updating completed, just yet. The server I want to deploy from is running python 3.5 and I'm building with python 3.6. There seem to be some ordering issues that that will probably be resolved if I move one of the data structures to an ordered dict. Haven't even started to debug it, so that will happen on its own time.
Local Bitcoin global daily volume is continuing to set records. That's significant because it represents a market that's distinct from the speculation we see on exchanges. I've long considered local bitcoins a primary indicator for bitcoin adoption. Those users are truly using the protocol as it was intended, instead of a purely speculative short-term investment.
Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money is well worth the read, especially if you've only been in this space for a year or two, or if you're not sure who the major players in the industry are. The stories of the actors in this field are well told, just brief enough, and compelling. OG Bitcoiners will feel nostalgic throughout. Brought back a lot of memories for me. Read it. Just do it. Do it. Do it now.
Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 - Present Performance 2016 - Present Performance 2015 - Present Performance 2014 - Present Performance 2013 - Present Performance 2012 - Present Performance 2011 - Present Performance July 2010 - Present Performance
Starting Price USD $17,601.94 $8,230.69 $5,895.30 $3,777.29 $997.69 $434.46 $313.92 $770.44 $13.30 $5.27 $0.30 $0.09
Compounding Daily Periodic Rate -3.18% 1.80% 1.46% 1.47% 0.75% 0.48% 0.35% 0.20% 0.38% 0.36% 0.42% 0.44%
Over $20,000.00 on Never!!! 2018-01-10 2018-01-14 2018-01-14 2018-02-06 2018-03-03 2018-03-31 2018-06-15 2018-03-20 2018-03-25 2018-03-10 2018-03-05
Over $31,622.78 on Never!!! 2018-02-04 2018-02-15 2018-02-14 2018-04-08 2018-06-06 2018-08-08 2019-01-30 2018-07-17 2018-07-30 2018-06-26 2018-06-17
Over $100,000.00 on Never!!! 2018-04-10 2018-05-05 2018-05-03 2018-09-09 2019-01-30 2019-07-03 2020-08-26 2019-05-13 2019-06-13 2019-03-25 2019-03-03
Over $1,000,000.00 on Never!!! 2018-08-16 2018-10-10 2018-10-07 2019-07-14 2020-05-21 2021-04-19 2023-10-20 2021-01-02 2021-03-09 2020-09-19 2020-08-04
nannal 's A+ on NEVER!!! 2018-05-01 2018-06-05 2018-06-03 2019-01-03 2019-12-20 NEVER!!! NEVER!!! NEVER!!! NEVER!!! 2020-07-03 2020-04-17
http://MoonMath.Win
submitted by jarederaj to BitcoinMarkets [link] [comments]

Hopium Time and My Bitcoin Bet

 
Take me directly to the official BITCOIN BET FOR THE VETS pledge page
 
Hello! Some of you may know me from the Daily Discussion thread here. I am an enthusiastic supporter of Bitcoin and also the author of Hopium Time (formerly Daily Hopium). Hopium Time is my effort to improve morale of the Bitcoin community during the dark times of current bear market we've been enduring. In my posts I make an effort to post good news and show parallels to previous Bitcoin bear markets to provide perspective when things look bleak.
 
I also like to make predictions. My core prediction is as follows:
 
The price of ONE BITCOIN will surpass $100,000 USD before May 1, 2021.
 
To illustrate my conviction on this prediction and to help my favorite charity, The Independence Fund, I have made it into a Bet. I’m calling it my Bitcoin Bet for the Vets (BBV). Please take a look at my post on this. I would really like this to grow into a nice donation to the charity which is very helpful to Veterans and their families. Hopefully some of you guys will pledge to match my Bet.
 
7/21/18 Revision to bet matching:
 
I will allow someone who pledges to match my bet to decide what percentage of my donation they will match (minimum of 5%). Please reply directly to the bet thread to make your honor bound irrevocable commitment to donate with me on May 1, 2021. I will include you on my public list of donors. Also, while I have pledged to donate enough to buy one track chair for the Vets even if I win the bet, you as a bet matcher, will be encouraged to do the same, but it is not required.
 
I will attempt to contact some of the leading Bitcoin bulls in the media (John McAfee, Tom Lee, Tim Draper etc.) and let you know in this thread if they plan to participate in my Bet or not. So you may want to check back on this thread from time to time for a status update.
 
Imagine the good we could do together if more people got involved. We can show the world how generous the crypto community can be. Good for the Vets and good for bitcoin. Everybody wins!
 
Follow me on my new Twitter @ThePhysicistBTC
 
I will maintain an archive of all my Hopium Time posts here, in case you are feeling a little down and need a quick reality check or pick-me-up. See below.
 
Hopium Time (Archive):
 
Bonus Feature #4: Learn Bitcoin/Blockchain for beginners series
Part 1 - Explain Bitcoin Like I’m Five
https://www.reddit.com/Bitcoin/comments/a0sghdaily_discussion_november_27_2018/eakmmpw
Part 2 - 4 TED Talks you should watch immediately if you want to understand bitcoin
https://www.reddit.com/Bitcoin/comments/a13uru/daily_discussion_november_28_2018/ean3m8j
Part 3 - Blockchain expert, Bettina Warburg, explains blockchain in five levels of difficulty
https://www.reddit.com/Bitcoin/comments/a1f2om/daily_discussion_november_29_2018/eapxc53
Part 4 - Bitcoin: What It Is And How It Works & Understand Bitcoin in 30 Minutes
https://www.reddit.com/Bitcoin/comments/a1q5qb/daily_discussion_november_30_2018/easfqbj
S02E26: Bitcoin in Venezuela
https://www.reddit.com/Bitcoin/comments/aa803q/daily_discussion_december_28_2018/ecrmdv1
Bonus Feature #5 - Wall Street Could Change The Game For Bitcoin Again
https://www.reddit.com/Bitcoin/comments/a8iryx/daily_discussion_december_22_2018/eccj73s
S02E25: The Road To Recovery - Part 2
https://www.reddit.com/Bitcoin/comments/a1f2om/daily_discussion_november_29_2018/ear7pc5
S02E24: The Untrue Hodler
https://www.reddit.com/Bitcoin/comments/9wxrh9/daily_discussion_november_14_2018/e9ongao
S02E23: VanEck-SolidX ETF (backed by physical bitcoin) has a good chance of SEC approval by March 2019
https://www.reddit.com/Bitcoin/comments/9ts5lx/daily_discussion_november_03_2018/e90bj3d
S02E22: Bakkt is really coming this December
https://www.reddit.com/Bitcoin/comments/9qbco3/daily_discussion_october_22_2018/e89qfo4
S02E21: The Flattening
https://www.reddit.com/Bitcoin/comments/9lkm1s/daily_discussion_october_05_2018/e77wzl3
Bonus Feature #3: Tim Draper Still Bullish!
https://www.reddit.com/Bitcoin/comments/9fqez2/daily_discussion_september_14_2018/e603fou
Bonus Feature #2: Overstock.com Will Sell Bitcoin in Q1 2019.
https://www.reddit.com/Bitcoin/comments/9fqez2/daily_discussion_september_14_2018/e5zujva
S02E20: The One, the Only, The Legend: u/americanpegasus
https://www.reddit.com/Bitcoin/comments/9f61w6/daily_discussion_september_12_2018/e5vvcxi
S02E19: The Foundation for Institutional Investment is Being Built Right Now
https://www.reddit.com/Bitcoin/comments/9evuxt/daily_discussion_september_11_2018/e5spu3t
S02E18: Universities are offering classes in crypto
https://www.reddit.com/Bitcoin/comments/9b7l22/daily_discussion_august_29_2018/e52jzn7
S02E17: Brexit Nightmare - Could be Bullish for Bitcoin
https://www.reddit.com/Bitcoin/comments/99vtlo/daily_discussion_august_24_2018/e4rlfwe
S02E16: Road to Recovery - Part 1
https://www.reddit.com/Bitcoin/comments/98ad0e/daily_discussion_august_18_2018/e4f8qim
S02E15: Conflicted Feelings and “The Bitcoin Face”
https://www.reddit.com/Bitcoin/comments/96wqvd/daily_discussion_august_13_2018/e458tdm
S02E14: The Perils of Human Emotions
https://www.reddit.com/Bitcoin/comments/965anc/daily_discussion_august_10_2018/e3z0z9e
S02E13: The Bitcoin Whisperer Has Spoken - Just Believe
https://www.reddit.com/Bitcoin/comments/95us72/daily_discussion_august_09_2018/e3x7i6o
S02E12: Don’t be scurred ;-)
https://www.reddit.com/Bitcoin/comments/959zjn/daily_discussion_august_07_2018/e3sn83a
S02E11: The Pain Will Come to an End
https://www.reddit.com/Bitcoin/comments/94qljj/daily_discussion_august_05_2018/e3nxab2
S02E10: Bakkt aims to allow you pay for your coffee at Starbucks with bitcoin (and more)
https://www.reddit.com/Bitcoin/comments/947zr6/daily_discussion_august_03_2018/e3jzxmb
S02E09: JUST HODL
https://www.reddit.com/Bitcoin/comments/93nbn7/daily_discussion_august_01_2018/e3g1b47
S02E08: Glenn Beck and Teeka Tiwari discuss whether the Bitcoin Bear Market is finally over
https://www.reddit.com/Bitcoin/comments/932hei/daily_discussion_july_30_2018/e3a9umr
S02E07: Mati Greenspan, Senior Analyst at eTore speaks
https://www.reddit.com/Bitcoin/comments/92tj24/daily_discussion_july_29_2018/e3g4jui
Bonus Feature #1: Possibility of CBOE ETF being approved by March 2019 or sooner
https://www.reddit.com/Bitcoin/comments/92awvq/daily_discussion_july_27_2018/e366316 - See this article also
S02E06: Bitcoin Comeback Could be for Real https://www.reddit.com/Bitcoin/comments/91fqkdaily_discussion_july_24_2018/e2y2xqn
S02E05: Different Take on Bitcoin Bubbles
https://www.reddit.com/Bitcoin/comments/90eemn/daily_discussion_july_20_2018/e2qzxcu
S02E04: Has Bitcoin bottomed?
https://www.reddit.com/Bitcoin/comments/9047lk/comment/e2ozyqc
S02E03: The Bet
https://www.reddit.com/Bitcoin/comments/8z9cx2/daily_discussion_july_16_2018/e2iiems
S02E02: ETFs
https://www.reddit.com/Bitcoin/comments/8ys014/daily_discussion_july_14_2018/e2ekotq
S02E01: Bitcoin Regret
https://www.reddit.com/Bitcoin/comments/8yie5daily_discussion_july_13_2018/e2cqeej
S01E34: I Accidentally Bought 11 BTC
https://www.reddit.com/Bitcoin/comments/8xn6s0/daily_discussion_july_10_2018/e24ee6h
S01E33: Crystal Balls
https://www.reddit.com/Bitcoin/comments/8x9um1/daily_discussion_july_09_2018/e22thya
S01E32: The Unthinkable
https://www.reddit.com/Bitcoin/comments/8x097x/daily_discussion_july_08_2018/e20h64v
S01E31: The Winklevoss Twins are Keepin Calm and HODLing On
https://www.reddit.com/Bitcoin/comments/8wrwpx/daily_discussion_july_07_2018/e1yjstw
S01E30: The Power of the Lightning Network
https://www.reddit.com/Bitcoin/comments/8wiku7/daily_discussion_july_06_2018/e1wi9am
S01E29: Will you make the right decision?
https://www.reddit.com/Bitcoin/comments/8w8zni/daily_discussion_july_05_2018/e1udryq
S01E28: Lets get it over 7k for some fireworks.
https://www.reddit.com/Bitcoin/comments/8w07u9/daily_discussion_july_04_2018/e1sggs5
S01E27: Major Bitcoin Crashes
https://www.reddit.com/Bitcoin/comments/8vqpjy/daily_discussion_july_03_2018/e1qumdi
S01E26: Bitcoin Bubbles
https://www.reddit.com/Bitcoin/comments/8vh6vf/daily_discussion_july_02_2018/e1ngux2
S01E25: What? Bitcoin died?
https://www.reddit.com/Bitcoin/comments/8v8qf8/daily_discussion_july_01_2018/e1m238s
S01E24: Parallels in time
https://www.reddit.com/Bitcoin/comments/8v0n1c/daily_discussion_june_30_2018/e1k33ur
S01E23: I have no choice but to sell off 8000 BTC
https://www.reddit.com/Bitcoin/comments/8urof2/daily_discussion_june_29_2018/e1hrk55
S01E22: CNBC Africa - Crypto Trader
https://www.reddit.com/Bitcoin/comments/8uhkxw/daily_discussion_june_28_2018/e1fm41w
S01E21: The Tide is Turning?
https://www.reddit.com/Bitcoin/comments/8u82mv/daily_discussion_june_27_2018/e1dfqqx
S01E20: The Panic Sellers Edition
https://www.reddit.com/Bitcoin/comments/8tyijb/daily_discussion_june_26_2018/e1bni1k
S01E19: Crash Troll
https://www.reddit.com/Bitcoin/comments/8tp0mc/daily_discussion_june_25_2018/e198ujy
S01E18: No hope for bitcoin?
https://www.reddit.com/Bitcoin/comments/8tgn5v/daily_discussion_june_24_2018/e17n6dt
S01E17: Optimism for 2nd half 2018
https://www.reddit.com/Bitcoin/comments/8t8qlq/daily_discussion_june_23_2018/e16g1lg
S01E16: People who bought at the ath of 266 then sold at 50
https://www.reddit.com/Bitcoin/comments/8szuvc/daily_discussion_june_22_2018/e155pr3
S01E15: The Truth
https://www.reddit.com/Bitcoin/comments/8sqc99/daily_discussion_june_21_2018/e12y46x
S01E14: Millionaire interest
https://www.reddit.com/Bitcoin/comments/8sgt75/daily_discussion_june_20_2018/e10q4d0
S01E13: Pep Talk time
https://www.reddit.com/Bitcoin/comments/8s7dvd/daily_discussion_june_19_2018/e0ypdrd
S01E12: HODLERS are people too
https://www.reddit.com/Bitcoin/comments/8s7dvd/daily_discussion_june_19_2018/e0ykk2v
S01E11: Square Cash App
https://www.reddit.com/Bitcoin/comments/8ry1gb/daily_discussion_june_18_2018/e0wdlxi
S01E10: Predictions, predictions
https://www.reddit.com/Bitcoin/comments/8rpvtt/daily_discussion_june_17_2018/e0tte6t
S01E09: Too expensive?
https://www.reddit.com/Bitcoin/comments/8ri7zp/daily_discussion_june_16_2018/e0rvb0z
S01E08: Aarrrrrrnoooooooold
https://www.reddit.com/Bitcoin/comments/8r9if9/daily_discussion_june_15_2018/e0qqezr
S01E07: Sinking Ship
https://www.reddit.com/Bitcoin/comments/8r9if9/daily_discussion_june_15_2018/e0pn5mc
S01E06: Delusional
https://www.reddit.com/Bitcoin/comments/8r0clm/daily_discussion_june_14_2018/e0otg3x
S01E05: Bitcoin Immortality and Log Chart
https://www.reddit.com/Bitcoin/comments/8qqy0i/daily_discussion_june_13_2018/e0mofn0
S01E04: Hal Finney
https://www.reddit.com/Bitcoin/comments/8qhgbl/daily_discussion_june_12_2018/e0kn24t
S01E03: You can make a difference.
https://www.reddit.com/Bitcoin/comments/8q822daily_discussion_june_11_2018/e0igv6m
S01E02: Being a Fudster - an Ageless Past-time
https://www.reddit.com/Bitcoin/comments/8pznhe/daily_discussion_june_10_2018/e0gngdz
S01E01: Are you ready for the drops?
https://www.reddit.com/Bitcoin/comments/8pznhe/daily_discussion_june_10_2018/e0fp7m6
The Pilot: 770 bitcoins
https://www.reddit.com/Bitcoin/comments/8k2sl0/daily_discussion_may_17_2018/dz4iawv
submitted by The-Physicist to Bitcoin [link] [comments]

BITCOIN DIVORCE – BITCOIN CORE VS BITCOIN CASH EXPLAINED

Bitcoin and Bitcoin Cash are confusing, especially to newbies. They are likely unaware of the history and reasoning for the existence of these two coins. This ignorance is likely persisted by the censorship practised at bitcoin and Bitcointalk.org for several years. (rbitcoinbanned includes examples of the censoring.)
Most of the following is an explanation of the history of Bitcoin, when there was only one Bitcoin. Then it explains the in-fighting and why it forked into two Bitcoins: 1) Bitcoin Legacy and 2) Bitcoin Cash, which happens in the last section (THE DIVORCE). Feel free to suggest edits or corrections. Later, I will publish this on Medium as well.
BITCOIN WAS AN INSTRUMENT OF WAR
For Satoshi Nakamoto, the creator, and the initial supporters, Bitcoin was more than just a new currency. It was an instrument of war.
Who are they fighting against?
The government and central banks.
There is an abundance of evidence of this, starting with Satoshi Nakamoto’s original software.
BATTLE FOR ONLINE GAMBLING
Governments around the world ban online gambling by banning their currency from being used as payment. The original Bitcoin software included code for Poker. Yes, Poker.
Here is the original code: https://github.com/trottieoriginal-bitcoin/blob/mastesrc/uibase.cpp
Search for “Poker”, “Deal Me Out”, “Deal Hand”, “Fold”, “Call”, “Raise”, “Leave Table”, “DitchPlayer”.
Bitcoin gave the middle finger to the government and found a way to get around their ban. In the initial years, it was mainly gambling operators that used Bitcoin, such as SatoshiDice. Was this a coincidence? Gambling is one of the best, if not, the best application for Bitcoin. It was no wonder that gambling operators embraced Bitcoin, including gambling mogul Calvin Ayre.
Bitcoin enabled people to rebel against the government in other ways as well, such as Silk Road, which enabled people to buy and sell drugs.
ANTI-GOVERNMENT LIBERTARIANS AND CYPHERPUNKS
Libertarians seek to maximize political freedom and autonomy. They are against authority and state power. Cypherpunks are activists advocating widespread use of cryptography as a route to social and political change. Their common thread is their dislike for the government.
Bitcoin was created by libertarians and cypherpunks.
Satoshi Nakamoto used cryptography mailing lists to communicate with other cypherpunks such as Wei Dai. Satoshi Nakamoto wrote:
“It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though.”
Satoshi Nakamoto was rebellious to government control. Someone argued with Satoshi by stating: “You will not find a solution to political problems in cryptography.” Satoshi replied:
"Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.
Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.”
Nakamoto was critical of the central bank. He wrote:
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.”
It is no wonder that the first supporters of Bitcoin were libertarians as well, who agreed with Satoshi’s ideology and saw the potential of Bitcoin to fulfill their ideology.
One of the biggest benefits that Bitcoin supporters want, is “censorship resistance”. What does this mean? It means: to be able to spend your money any way you want. It means: how to get around government regulations and bans. It means: how to do something despite the government.
Roger Ver, an early Bitcoin supporter, heavily criticizes the government for engaging in wars around the world that kills civilians and children. When he ran as a Libertarian candidate in an election against the Republicans and Democrats, he criticized the ATF and FBI for murdering children in their raid in Waco, Texas. At the time, Ver and many other merchants were selling fireworks on eBay without a license. The ATF charged Ver and sent him to prison, but did not charge any of the other merchants. (https://youtu.be/N6NscwzbMvI?t=47m50s) This must have angered Ver a lot.
Since then, Ver has been on a mission to weaken and shrink the government. When he learned about Bitcoin in February 2011, he saw it as his weapon to accomplish his goal…his instrument of war.
Ver was already a multi-millionaire entrepreneur. He sold his company, bought Bitcoins and was the first to invest in Bitcoin startups, such as Bitpay, Blockchain.info, Kraken, Bitcoin.com, Bitcoinstore.com and others. Then he worked full-time to promote Bitcoin. Bitpay became the largest Bitcoin payment processor. Blockchain.info became the largest provider of Bitcoin wallets. Much of the growth of Bitcoin since 2011 can be attributed to Ver's companies.
More evidence of Ver’s anti-government sentiment emerged when he recently announced that he is working to create a society with no government at all (FreeSociety.com).
HOW TO WIN THE WAR
To win the war, Bitcoin must be adopted and widely used by the masses. When people use Bitcoin instead of their national fiat currency, the government becomes weaker. The government can no longer do the following:
It is not only important to get the masses to adopt Bitcoin, but it is also important to get them to adopt it quickly. If it takes a long time, governments will have more time to think twice about allowing Bitcoin to exist and will have more justifications to ban it. They can claim that Bitcoin is used for ransomware, terrorism, etc. If Bitcoin is adopted by the masses to buy everyday goods, such as food and clothing, then it will be harder for them to stop it.
IS BITCOIN WINNING?
Yes and no.
Bitcoin has definitely become more popular over the years. But, it is not achieving Satoshi Nakamoto’s goals.
Satoshi defined Bitcoin and his goal. The title of his white paper is:
“Bitcoin: A Peer-to-Peer Electronic Cash System”
Is Bitcoin being used as cash? Unfortunately, it is not. It is being used as a store of value. However, the title of Satoshi’s white paper was not:
“Bitcoin: A Store of Value”
There is utility in having a store of value, of course. People need it and Bitcoin has superior features to gold. Therefore, it is likely that Bitcoin can continue gaining in popularity and price as it continues to compete and take market share away from gold.
However, both gold and Bitcoin are not being used as currency.
If Bitcoin does not replace fiat currencies, will it weaken governments? No, because no matter how many people buy gold or Bitcoin (as a store of value), they do not weaken governments. To do so, Bitcoin must replace fiat currencies.
BITCOIN LOSING TO FIAT
In the initial years, Bitcoin was taking market share from fiat currencies. But, in the past year, it is losing market share. Dell, Wikipedia and airlines have stopped accepting bitcoin. SatoshiDice and Yours switched to Bitcoin Cash. According to Businessinsider:
"Out of the leading 500 internet sellers, just three accept bitcoin, down from five last year.”
Why is Bitcoin losing market share to fiat? According to Businessinsider:
“when they do try to spend it, it often comes with high fees, which eliminates the utility for small purchases, or it takes a long time to complete the transaction, which could be a turn-off.”
Why are there high fees and long completion times?
Because of small blocks.
SCALING DEBATE – THE BIG MARITAL FIGHT
Why isn't the block size increased?
Because Core/Blockstream believes that big blocks lead to centralization to fewer people who can run the nodes. They also believe that off-chain solutions will provide faster and cheaper transactions. There are advocates for bigger blocks, but because Core/Blockstream control the software, Bitcoin still has the original, one megabyte block since 8 years ago. (Core developers control Bitcoin’s software and several of the key Core developers are employed by Blockstream, a private, for-profit company.)
Businesses, users and miners have asked for four years for the block size to be increased. They point out that Satoshi has always planned to scale Bitcoin by increasing the block size. For four years, Core/Blockstream has refused.
The Bitcoin community split into two factions:
This scaling debate and in-fighting went on for several years. You can read more about it at: https://np.reddit.com/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/dl8v4lp/?st=jaotbt8m&sh=222ce783
SMALL BLOCKERS VS BIG BLOCKERS
Why has Blockstream refused to increase block size? There are a few possible reasons:
  1. They truly believe that big blocks means that fewer people would be able to run full nodes, which would lead to centralization and that the best roadmap is with off-chain solutions. (However, since 2009, hard disk space has exploded. A 4TB disk costs $100 and can store 10 years of blocks. This price is the equivalent to a handful of Bitcoin transaction fees. Also, Satoshi never planned on having every user run full nodes. He envisioned server farms. Decentralization is needed to achieve censorship-resistance and to make the blockchain immutable. This is already accomplished with the thousands of nodes. Having millions or billions of nodes does not increase the censorship-resistance and does not make the blockchain more immutable.)
  2. Blockstream wants small blocks, high fees and slow confirmations to justify the need for their off-chain products, such as Liquid. Blockstream sells Liquid to exchanges to move Bitcoin quickly on a side-chain. Lightning Network will create liquidity hubs, such as exchanges, which will generate traffic and fees for exchanges. With this, exchanges will have a higher need for Liquid. This is the only way that Blockstream will be able to repay the $76 million to their investors.
  3. They propose moving the transactions off the blockchain onto the Lightning Network, an off-chain solution. By doing so, there is a possibility of being regulated by the government (see https://np.reddit.com/btc/comments/7gxkvj/lightning_hubs_will_need_to_report_to_irs/). One of Blockstream’s investors/owners is AXA. AXA’s CEO and Chairman until 2016 was also the Chairman of Bilderberg Group. The Bilderberg Group is run by politicians and bankers. According to GlobalResearch, Bilderberg Group wants “a One World Government (World Company) with a single, global marketplace…and financially regulated by one ‘World (Central) Bank’ using one global currency.” Does Bilderberg see Bitcoin as one component of their master plan?
  4. They do not like the fact that most of the miners are in China. In this power-struggle, they would like to take away control and future revenues from China, by scaling off-chain.
Richard Heart gives his reasons why block size should not be increased, in this video: https://www.youtube.com/watch?time_continue=2941&v=iFJ2MZ3KciQ
He cites latency as a limitation and the reason for doing off-chain scaling. However, latency has been dramatically reduced since 2009 when Bitcoin started with 1MB blocks. Back then, most residential users had 5-10 Mbps internet speed. Now, they have up to 400 Mbps up to 1 Gbps. That’s a 40 to 200X increase. Back in 2009, nobody would’ve thought that you can stream 4k videos.
He implies that 10 minute intervals between block creations are needed in order for the blocks to sync. If internet speed has increased by 40-200X, why can’t the block size be increased?
He claims that bigger blocks make it more difficult for miners to mine the blocks, which increases the chances of orphaned blocks. However, both speeds and the number of mining machines have increased dramatically, causing hashing power on the network to exponentially increase since 2009. This will likely continue increasing in the future.
Richard says that blocks will never be big enough to do 2,000 transactions per second (tps). He says that all of the forks in the world is only going to get 9 tps. Since his statement, Peter Rizun and Andrew Stone have shown that a 1 core CPU machine with 3 Mbps internet speed can do 100 tps. (https://youtu.be/5SJm2ep3X_M) Rizun thinks that visa level (2,000 tps) can be achieved with nodes running on 4-core/16GB machines, bigger blocks and parallel processing to take advantage of the multiple CPU cores.
Even though Rizun and Stone are showing signifiant increases in tps with bigger blocks, the big blockers have never been against a 2nd layer. They’ve always said that you can add a 2nd layer later.
CORE/BLOCKSTREAM VS MINERS
According to Satoshi, Bitcoin should be governed by those with the most hashing power. One hash, one vote. However, Core/Blockstream does not agree with this. Due to refusals for four years to increase block size, it would seem that Core/Blockstream has been able to wrestle control away from miners. Is this because they want control? Is this because they don’t want the Chinese to have so much, or any, control of Bitcoin? Is this because they prefer to eventually move the revenue to the West, by moving most of the transactions off chain?
DIFFERENT AGENDAS
It would seem that Businesses/Users and Core/Blockstream have very different agendas.
Businesses/Users want cheap and fast transactions and see this as an immediate need. Core/Blockstream do not. Here are some quotes from Core/Blockstream:
Greg Maxwell: "I don't think that transaction fees mattering is a failing-- it's success!”
Greg Maxwell: "fee pressure is an intentional part of the system design and to the best of the current understanding essential for the system's long term survial. So, uh, yes. It's good."
Greg Maxwell: "There is a consistent fee backlog, which is the required criteria for stability.”
Peter Wuille: "we - as a community - should indeed let a fee market develop, and rather sooner than later”
Luke-jr: "It is no longer possible to keep fees low.”
Luke-jr: "Just pay a $5 fee and it'll go through every time unless you're doing something stupid.”
Jorge Timón: "higher fees may be just what is needed”
Jorge Timón: "Confirmation times are fine for those who pay high fees.”
Jorge Timón: “I think Adam and I agree that hitting the limit wouldn't be bad, but actually good for an young and immature market like bitcoin fees.”
Mark Friedenbach: "Slow confirmation, high fees will be the norm in any safe outcome."
Wladimir J. van der Laan: “A mounting fee pressure, resulting in a true fee market where transactions compete to get into blocks, results in urgency to develop decentralized off-chain solutions.”
Greg Maxwell: “There is nothing wrong with full blocks, and blocks have been “full” relative to what miners would produce for years. Full blocks is the natural state of the system”
Wladimir J. van der Laan: “A mounting fee pressure, resulting in a true fee market where transactions compete to get into blocks, results in urgency to develop decentralized off-chain solutions. I'm afraid increasing the block size will kick this can down the road and let people (and the large Bitcoin companies) relax”
Why don’t Core/Blockstream care about cheap and fast transactions? One possible reason is that they do not use Bitcoin. They might own some, but they do not spend it to buy coffee and they do not use it to pay employees. They aren’t making hundreds of transactions per day. They do not feel the pain. As engineers, they want a technical utopia.
Businesses/Users on the other hand, feel the pain and want business solutions.
An analogy of this scaling debate is this:
You have a car that is going 50 kph. The passengers (Bitcoin users) want to go 100 kph today, but eventually in the future, they want to go 200 kph. The car is capable of going 100 kph but not 200 kph. Big blockers are saying: Step on the accelerator and go 100 kph. Small blockers are saying: Wait until we build a new car, which will go 200 kph. Meanwhile, the passengers are stuck at 50 kph.
Not only do Big blockers think that the car can simply go faster by stepping on the accelerator, they have already shown that the car can go even faster by adding a turbocharger (even bigger blocks) and making sure that every cylinder is firing (parallel process on multiple CPU cores). In addition, they are willing to use the new car if and when it gets built.
CORE/BLOCKSTREAM VS USERS
If you watch this debate from 2017-02-27 (https://youtu.be/JarEszFY1WY), an analogy can be made. Core/Blockstream is like the IT department and Bitcoin.com (Roger Ver and Jake Smith) is like the Sales/Marketing department (users). Core/Blockstream developers hold, but do not use Bitcoin. Blockstream does not own nor use Bitcoin.
Roger Ver's companies used to use or still use Bitcoin every day. Ver’s MemoryDealers was the first company to accept Bitcoin. Johnny seems to think that he knows what users want, but he rarely uses Bitcoin and he is debating one of the biggest users sitting across the table.
In all companies, Marketing (and all other departments) are IT’s customer. IT must do what Marketing wants, not the other way around. If Core/Blockstream and Roger Ver worked in the same company, the CEO would tell Core/Blockstream to give Roger what he wants or the CEO would fire Core/Blockstream.
But they don’t work for the same company. Roger and other businesses/users cannot fire Core/Blockstream.
Core/Blockstream wants to shoot for the best technology possible. They are not interested in solving short term problems, because they do not see high fees and long confirmation times as problems.
BLOCKSTREAM VS LIBERTARIANS
There are leaders in each camp. One can argue that Blockstream is the leader of the Small Blockers and Roger Ver (supported by Gavin Andresen, Calvin Ayre, businesses and some miners) is the leader of the Big Blockers.
Blockstream has openly called for full blocks and higher fees and they are preparing to scale with Lightning Network. As mentioned before, there is a possibility that Lightning hubs will be regulated by the government. Luke-jr tweeted “But State has authority from God” (https://twitter.com/LukeDashjstatus/934611236695789568?s=08)
Roger Ver wants Bitcoin to regulate the government, not the other way around. He wants to weaken and shrink the government. In addition to separation of church and state, he wants to see separation of money and state. He felt that Bitcoin can no longer do this. He pushed for solutions such as Bitcoin Unlimited.
THE DIVORCE
To prepare for off-chain scaling, Core/Blockstream forked Bitcoin by adding Segwit, which I will refer to as Bitcoin Legacy. This is still referred to by the mainstream as Bitcoin, and it has the symbol BTC.
After four years of refusal by Blockstream, the big blockers, out of frustration, restored Bitcoin through a fork, by removing Segwit from Bitcoin Legacy and increased the block size. This is currently called Bitcoin Cash and has the symbol BCH.
Bitcoin Legacy has transformed from cash to store-of-value. It had a 8 year head start in building brand awareness and infrastructure. It’s likely that it will continue growing in popularity and price for a while.
Bitcoin Cash most resembles Satoshi’s “peer-to-peer cash”. It will be interesting to see if it will pick up from where Bitcoin Legacy left off and take market share in the fiat currency space. Libertarians and cypherpunks will be able to resume their mission of weakening and shrinking the government by promoting Bitcoin Cash.
Currently, Bitcoin Cash can fulfill the role of money, which includes medium of exchange (cash) and store-of-value functions. It will be interesting to see if off-chain scaling (with lower fees and faster confirmations) will enable Bitcoin Legacy to be used as a currency as well and fulfill the role of money.
This is an example of the free market and open competition. New companies divest or get created all the time, to satisfy different needs. Bitcoin is no different.
Small blockers and big blockers no longer need to fight and bicker in the same house. They have gone their separate ways.
Both parties have want they want. Blockstream can store value and generate revenue from their off-chain products to repay their investors. Libertarians (and gambling operators) can rejoice and re-arm with Bitcoin Cash to take on the government. They can continue with their mission to get freedom and autonomy.
submitted by curt00 to btc [link] [comments]

Subreddit Stats: GoldandBlack top posts from 2016-08-01 to 2019-06-12 11:22 PDT

Period: 1044.74 days
Submissions Comments
Total 1000 55684
Rate (per day) 0.96 53.28
Unique Redditors 295 6531
Combined Score 220956 394481

Top Submitters' Top Submissions

  1. 29422 points, 125 submissions: MasterTeacher123
    1. Pentagon Spent $4.6 Million on Lobster Tail and Crab in One Month (594 points, 95 comments)
    2. The Battle Isn't Right vs. Left. It’s Statism vs. Individualism (511 points, 66 comments)
    3. Kamala Harris Hopes You'll Forget Her Record as a Drug Warrior and Draconian Prosecutor (484 points, 50 comments)
    4. After the Supreme Court Said Unions Can’t Force Non-Members to Pay Dues, Almost All of Them Stopped (445 points, 123 comments)
    5. Why the Hammer and Sickle Should Be Treated Like the Swastika (423 points, 56 comments)
    6. No One Is Coming to Rescue You—Especially Not a Presidential Candidate (416 points, 28 comments)
    7. AOC's Green New Deal Is a U.S. Version of Mao’s Disastrous Great Leap Forward (412 points, 82 comments)
    8. The Green New Deal Is a Trojan Horse for Socialism (410 points, 81 comments)
    9. Minimum Wage Hikes Are Killing Jobs in California's Poorest Communities, Study Says (408 points, 125 comments)
    10. Victims of Communism Day 2019 (402 points, 96 comments)
  2. 26598 points, 114 submissions: Anen-o-me
    1. Laws for thee but not for me! Cop destroys civilian property and flips off citizen, citizen flips him back and gets mobbed by cops (936 points, 308 comments)
    2. Capitalism's Evil Quest... (827 points, 77 comments)
    3. Free Assange (714 points, 77 comments)
    4. Another brutally honest comment on the US army post (630 points, 79 comments)
    5. Amazon will donate 2% of purchases to the charity of your choice at no cost to you. I chose the Ludwig Von Mises Institute, they received $3,500 in donations this quarter! Please use Smile.Amazon.com and choose a charity! (615 points, 150 comments)
    6. Assange has reportedly been arrested by British Police after a sudden and illegal termination of his asylum. Sad proof of the dark times for all supporters of freedom in the internet age :( (571 points, 198 comments)
    7. The perfect woman doesn't exis... (504 points, 52 comments)
    8. What most Americans have been indoctrinated to think. (493 points, 23 comments)
    9. TIL that farmers in USA are hacking their John Deere tractors with Ukrainian firmware, which seems to be the only way to actually own the machines and their software, rather than rent them for lifetime from John Deere. (478 points, 114 comments)
    10. Anarchapulco: Ron Paul takes the stage... (468 points, 37 comments)
  3. 17675 points, 81 submissions: Anenome5
    1. The Most Perfect Libertarian Meme I Ever Did See... "Unchecked People" (843 points, 45 comments)
    2. Spread this far and wide! (654 points, 146 comments)
    3. Colorado sheriff is willing to go to jail rather than enforce a proposed gun-seizing law... (644 points, 52 comments)
    4. Ocasio-Cortez falls for the Sweden Socialism meme: "I’m Going to Turn America into Another Sweden, Not Venezuela" --- the Swedish are constantly bemused by this, they're more capitalistic than the US is (613 points, 143 comments)
    5. Jury awards Sen. Rand Paul $580,000 in civil suit against neighbor who attacked him (577 points, 78 comments)
    6. Supreme Court poised to limit police power to seize property --- fucking finally (456 points, 44 comments)
    7. Ancap Flag Painting (439 points, 30 comments)
    8. Former Reddit CEO Pao: "Regulation will give them an excuse to take on people and their bad behavior." --- Regulation against hate speech would give companies cover to censor political opponents in a way that they wouldn't have to take personal responsibility for. The Gov forced them, they can say. (411 points, 80 comments)
    9. Chinese driver gets ticket for scratching his face because AI software thought he was using a cellphone :| (374 points, 27 comments)
    10. With Government Shut Down, Citizens Forced To Interfere In Their Own Lives (361 points, 16 comments)
  4. 12663 points, 67 submissions: JobDestroyer
    1. After Winning a $15 Minimum Wage, Fast Food Workers Now Battle Unfair Firings (590 points, 296 comments)
    2. TIL a Japanese sushi chain CEO majorly contributed to a drop in piracy off the Somalian coast by providing the pirates with training as tuna fishermen (546 points, 27 comments)
    3. Sign from protest against proposed "Red Flag" law in New Hampshire. (442 points, 71 comments)
    4. In 3 Years, Cops Have Killed 450% More Citizens Than 4 Decades of Mass Shootings COMBINED (348 points, 107 comments)
    5. Some Uganda libertarians just started a liberty library! (336 points, 30 comments)
    6. 3D-printed guns are back, and this time they are unstoppable (330 points, 73 comments)
    7. Venezuela Raises Minimum Wage 3,000% and Lots of Workers Get Fired (322 points, 38 comments)
    8. The effects of hyperinflation in Zimbabwe. (287 points, 21 comments)
    9. End the war in Afghanistan :: Rand Paul's AFGHAN Service Act would put an end to Afghanistan. (276 points, 40 comments)
    10. My husband, Rand Paul, and our family have suffered intimidation and threats (273 points, 74 comments)
  5. 4507 points, 26 submissions: properal
    1. Record Number of Americans Call Government Our Biggest Problem (486 points, 35 comments)
    2. Venezuela Isn’t Just a Failed State. It’s a Failure of Socialism. (350 points, 84 comments)
    3. 19 in 20 Americans Don't Know World Poverty is Falling | Chelsea Follett (339 points, 64 comments)
    4. /Economics/ discovers Property Rights as a solution to Climate change. (256 points, 63 comments)
    5. Why the Left Isn't Convinced by Your Economics Arguments | Ryan McMaken (197 points, 251 comments)
    6. FBI's "Suicide Letter" to Dr. Martin Luther King, Jr., and the Dangers of Unchecked Surveillance (185 points, 4 comments)
    7. Truth in Itemization (180 points, 21 comments)
    8. If Imports Were Truly Bad for an Economy, Military Blockades Would Not Exist (173 points, 60 comments)
    9. Ron Paul Receives Faithless Electoral Vote (168 points, 23 comments)
    10. First they came for... (164 points, 29 comments)
  6. 4310 points, 16 submissions: MrZer
    1. Guy gets jumped for disrespecting Stalin statue (570 points, 109 comments)
    2. Cop slaps phone out of teens hand and flips off teen. (519 points, 87 comments)
    3. Milton Friedman on Tariffs (363 points, 69 comments)
    4. Trump quietly signs largest wilderness preservation bill (354 points, 88 comments)
    5. Muslim youth group cleans up national parks amid government shutdown (Private individuals taking care of things, I thought only the State could handle this task) (307 points, 24 comments)
    6. I was optimistic about the French Protests... Until I read their demands (304 points, 175 comments)
    7. "imagine checks without taxes" Almost 100k likes on Twitter (292 points, 56 comments)
    8. PepsiCo sues 4 Indian farmers for $150,000 each for ‘infringing its rights’ by growing the potato variety used in its Lays chips (285 points, 72 comments)
    9. Yellow vests: Protesters in Paris set fire to dozens of cars in anger at millionaire Notre Dame donations - Demonstrators voice frustration at equivalent of £770m raised for cathedral while workers' demands remain unmet (277 points, 77 comments)
    10. Next Venezuela: Bolivia rolls out Universal Healthcare (240 points, 46 comments)
  7. 3703 points, 21 submissions: LibertyAboveALL
    1. Illinois may tax private retirement funds to pay public worker pensions (396 points, 103 comments)
    2. Voters in Switzerland approve stronger gun control laws by nearly two-thirds despite resistance (304 points, 155 comments)
    3. Mom Arrested For Leaving 8- and 9-Year-Olds Home Alone for Less Than an Hour (264 points, 69 comments)
    4. Bartender charged for serving man who allegedly went on to kill 8 people (259 points, 148 comments)
    5. The Insane Battle To Sabotage a New Apartment Building Explains San Francisco's Housing Crisis (193 points, 78 comments)
    6. U.S. Student Loan Debt Sets Record, Doubling Since Recession (175 points, 72 comments)
    7. Chinese teens are rejecting Communist Party propaganda and the government is freaking out (167 points, 29 comments)
    8. Julian Assange offers job to fired Google employee who wrote "anti-diversity" memo - "Censorship is for losers." (161 points, 50 comments)
    9. Ben Shapiro's view on Assange arrest is getting him roasted by many of his fans in the YT comment section. Hilarious! (159 points, 124 comments)
    10. Africans are being sold as slaves in Libya. Thanks, Hillary Clinton. (156 points, 22 comments)
  8. 2862 points, 10 submissions: vfhuuuuu
    1. "The welfare state is the oldest con game in the world. First you take people's money away quietly and then you give some of it back to them flamboyantly" - Thomas Sowell (613 points, 51 comments)
    2. Only about 21% of American millionaires have received any inheritance at all, with only 3% receiving over $1,000,000, study shows. (558 points, 99 comments)
    3. I basically just sat through 6 hours of statist propaganda (304 points, 113 comments)
    4. TIL that you're not required to wear a seat belt in New Hampshire if you're over 18 (304 points, 81 comments)
    5. Latinos are twice as likely to vote Libertarian than the general population (303 points, 130 comments)
    6. A Christmas Carol: A play about a greedy man becoming generous through social interaction, not state-sanctioned violence. (238 points, 30 comments)
    7. Last month, Washington DC raised taxes on Uber and Lyft to pay for it's shitty Metro system. To give you an idea of what this money will be used for; the city plans on spending $320 Million dollars to build ONE station. (162 points, 50 comments)
    8. In Bermuda, where Black and White people make roughly equal amounts of money, the IQ gap between races does not exist. (151 points, 193 comments)
    9. Just a quick reminder that the Republican party is just as anti-liberty as the Democrats, and "Libertarians" that support it should be ignored and downvoted. (117 points, 106 comments)
    10. Being a Gay Communist is as ironic as being a Jewish Neo-Nazi. (112 points, 65 comments)
  9. 2768 points, 7 submissions: LosFajitas
    1. When a capitalist tries to sell his product or service for the highest price they can get, they are seen as greedy. When a worker tries to sell their labor for the highest price they can get, they are seen as noble and deserving. (488 points, 138 comments)
    2. Liberals: We need to end the two party system! *Howard Schultz announces possible presidential run as an independent * Liberals: WOAAAHH THERE BUDDY SLOW DOWN! (444 points, 54 comments)
    3. I'm looking forward to the Democratic Primary because it's going to be one giant competition on who can give people the most free things. (408 points, 132 comments)
    4. It's no longer about revenue, taxes are now punitive measures. (400 points, 134 comments)
    5. "Judges Plead Guilty in Scheme to Jail Youths for Profit" oh but that can never happen in gov courts (358 points, 67 comments)
    6. Andrew Yang is one of the most arrogant people I have ever seen speak (355 points, 243 comments)
    7. Anyone else hate when people refer to a presidential candidate as "the person who will save this country" (315 points, 34 comments)
  10. 2264 points, 12 submissions: ayanamirs
    1. People Are Hiring Private Police Squads in Detroit (HBO) (375 points, 64 comments)
    2. Paul Krugman (Nobel 2008) (321 points, 52 comments)
    3. If you want #bitcoin to rise, teach Austrian Economics to people. (212 points, 167 comments)
    4. "A lot of people disagree with me, but I think people should be happy to pay taxes" < Obama to brazilians (210 points, 62 comments)
    5. Dutch national newspaper urges people to sell all their Bitcoins as it undermines the government, could destabilise the economy and reduces the power of central banks. Sounds like a reason to buy to me (192 points, 32 comments)
    6. US socialists can't deal against brazilians (167 points, 39 comments)
    7. Could someone please explain this? (161 points, 23 comments)
    8. Guns Law in Brazil is very restricted. 63880 deaths by year. (154 points, 27 comments)
    9. Look this answer (123 points, 134 comments)
    10. Congratulations To Bolivarian Socialism - Venezuela Now Has To Import Oil From The US (120 points, 18 comments)

Top Commenters

  1. JobDestroyer (7914 points, 897 comments)
  2. natermer (4011 points, 342 comments)
  3. Anen-o-me (3256 points, 535 comments)
  4. MasterTeacher123 (3201 points, 176 comments)
  5. Lemmiwinks99 (3185 points, 439 comments)
  6. E7ernal (2549 points, 472 comments)
  7. Anenome5 (2463 points, 430 comments)
  8. nosmokingbandit (2320 points, 174 comments)
  9. Perleflamme (2226 points, 634 comments)
  10. phaethon0 (2216 points, 144 comments)

Top Submissions

  1. Does that sound like a work of a journalist? by deleted (1064 points, 115 comments)
  2. Laws for thee but not for me! Cop destroys civilian property and flips off citizen, citizen flips him back and gets mobbed by cops by Anen-o-me (936 points, 308 comments)
  3. The Most Perfect Libertarian Meme I Ever Did See... "Unchecked People" by Anenome5 (843 points, 45 comments)
  4. Capitalism's Evil Quest... by Anen-o-me (827 points, 77 comments)
  5. Amazing way to not pay Taxes by ArbitraryOrder (794 points, 71 comments)
  6. Free Assange by Anen-o-me (714 points, 77 comments)
  7. Man who lives in massive palace surrounded by priceless art and catered to by staff of thousands asks if people really need so many material objects by TheJucheisLoose (690 points, 75 comments)
  8. His name was Gary Webb. by TrainingWeekend (675 points, 66 comments)
  9. Presented without comment by newimprovement (658 points, 152 comments)
  10. Spread this far and wide! by Anenome5 (654 points, 146 comments)

Top Comments

  1. 284 points: BakeshopNewb's comment in Officers Had No Duty to Protect Students in Parkland Massacre, Judge Rules
  2. 272 points: locolarue's comment in I was optimistic about the French Protests... Until I read their demands
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Bitcoin Divorce - Bitcoin [Legacy] vs Bitcoin Cash Explained

Bitcoin and Bitcoin Cash are confusing, especially to newbies. They are likely unaware of the history and reasoning for the existence of these two coins. This ignorance is likely persisted by the censorship practised at bitcoin and Bitcointalk.org for several years. (rbitcoinbanned includes examples of the censoring.)
Most of the following is an explanation of the history of Bitcoin, when there was only one Bitcoin. Then it explains the in-fighting and why it forked into two Bitcoins: 1) Bitcoin Legacy and 2) Bitcoin Cash, which happens in the last section (THE DIVORCE). Feel free to suggest edits or corrections. Later, I will publish this on Medium as well.
BITCOIN WAS AN INSTRUMENT OF WAR
For Satoshi Nakamoto, the creator, and the initial supporters, Bitcoin was more than just a new currency. It was an instrument of war.
Who are they fighting against?
The government and central banks.
There is an abundance of evidence of this, starting with Satoshi Nakamoto’s original software.
BATTLE FOR ONLINE GAMBLING
Governments around the world ban online gambling by banning their currency from being used as payment. The original Bitcoin software included code for Poker. Yes, Poker.
Here is the original code: https://github.com/trottieoriginal-bitcoin/blob/mastesrc/uibase.cpp
Search for “Poker”, “Deal Me Out”, “Deal Hand”, “Fold”, “Call”, “Raise”, “Leave Table”, “DitchPlayer”.
Bitcoin gave the middle finger to the government and found a way to get around their ban. In the initial years, it was mainly gambling operators that used Bitcoin, such as SatoshiDice. Was this a coincidence? Gambling is one of the best, if not, the best application for Bitcoin. It was no wonder that gambling operators embraced Bitcoin, including gambling mogul Calvin Ayre.
Bitcoin enabled people to rebel against the government in other ways as well, such as Silk Road, which enabled people to buy and sell drugs.
ANTI-GOVERNMENT LIBERTARIANS AND CYPHERPUNKS
Libertarians seek to maximize political freedom and autonomy. They are against authority and state power. Cypherpunks are activists advocating widespread use of cryptography as a route to social and political change. Their common thread is their dislike for the government.
Bitcoin was created by libertarians and cypherpunks.
Satoshi Nakamoto used cryptography mailing lists to communicate with other cypherpunks such as Wei Dai. Satoshi Nakamoto disappeared after 2010, but we can refer to his writings. He wrote:
“It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though.”
Satoshi Nakamoto was rebellious to government control. Someone argued with Satoshi by stating: “You will not find a solution to political problems in cryptography.” Satoshi replied:
"Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.
Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.”
Nakamoto was critical of the central bank. He wrote:
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.”
It is no wonder that the first supporters of Bitcoin were libertarians as well, who agreed with Satoshi’s ideology and saw the potential of Bitcoin to fulfill their ideology.
One of the biggest benefits that Bitcoin supporters want, is “censorship resistance”. What does this mean? It means: to be able to spend your money any way you want. It means: how to get around government regulations and bans. It means: how to do something despite the government.
Roger Ver, an early Bitcoin supporter, heavily criticizes the government for engaging in wars around the world that kills civilians and children. When he ran as a Libertarian candidate in an election against the Republicans and Democrats, he criticized the ATF and FBI for murdering children in their raid in Waco, Texas. At the time, Ver and many other merchants were selling fireworks on eBay without a license. The ATF charged Ver and sent him to prison, but did not charge any of the other merchants. (https://youtu.be/N6NscwzbMvI?t=47m50s) This must have angered Ver a lot.
Since then, Ver has been on a mission to weaken and shrink the government. When he learned about Bitcoin in February 2011, he saw it as his weapon to accomplish his goal…his instrument of war.
Ver was already a multi-millionaire entrepreneur. He sold his company, bought Bitcoins and was the first to invest in Bitcoin startups, such as Bitpay, Blockchain.info, Kraken, Bitcoin.com, Bitcoinstore.com and others. Then he worked full-time to promote Bitcoin. Bitpay became the largest Bitcoin payment processor. Blockchain.info became the largest provider of Bitcoin wallets. Much of the growth of Bitcoin since 2011 can be attributed to Ver's companies.
More evidence of Ver’s anti-government sentiment emerged when he recently announced that he is working to create a society with no government at all (FreeSociety.com).
HOW TO WIN THE WAR
To win the war, Bitcoin must be adopted and widely used by the masses. When people use Bitcoin instead of their national fiat currency, the government becomes weaker. The government can no longer do the following:
It is not only important to get the masses to adopt Bitcoin, but it is also important to get them to adopt it quickly. If it takes a long time, governments will have more time to think twice about allowing Bitcoin to exist and will have more justifications to ban it. They can claim that Bitcoin is used for ransomware, terrorism, etc. If Bitcoin is adopted by the masses to buy everyday goods, such as food and clothing, then it will be harder for them to stop it.
IS BITCOIN WINNING?
Yes and no.
Bitcoin has definitely become more popular over the years. But, it is not achieving Satoshi Nakamoto’s goals.
Satoshi defined Bitcoin and his goal. The title of his white paper is:
“Bitcoin: A Peer-to-Peer Electronic Cash System”
Is Bitcoin being used as cash? Unfortunately, it is not. It is being used as a store of value. However, the title of Satoshi’s white paper was not:
“Bitcoin: A Store of Value”
There is utility in having a store of value, of course. People need it and Bitcoin has superior features to gold. Therefore, it is likely that Bitcoin can continue gaining in popularity and price as it continues to compete and take market share away from gold.
However, both gold and Bitcoin are not being used as currency.
If Bitcoin does not replace fiat currencies, will it weaken governments? No, because no matter how many people buy gold or Bitcoin (as a store of value), they do not weaken governments. To do so, Bitcoin must replace fiat currencies.
BITCOIN LOSING TO FIAT
In the initial years, Bitcoin was taking market share from fiat currencies. But, in the past year, it is losing market share. SatoshiDice, Yours.org and Bitmain switched to Bitcoin Cash. According to Businessinsider:
"Out of the leading 500 internet sellers, just three accept bitcoin, down from five last year.”
Why is Bitcoin losing market share to fiat? According to Businessinsider:
“when they do try to spend it, it often comes with high fees, which eliminates the utility for small purchases, or it takes a long time to complete the transaction, which could be a turn-off.”
Why are there high fees and long completion times?
Because of small blocks.
SCALING DEBATE – THE BIG MARITAL FIGHT
Why isn't the block size increased?
Because Core/Blockstream believes that big blocks lead to centralization to fewer people who can run the nodes. They also believe that off-chain solutions will provide faster and cheaper transactions. There are advocates for bigger blocks, but because Core/Blockstream control the software, Bitcoin still has the original, one megabyte block since 8 years ago. (Core developers control Bitcoin’s software and several of the key Core developers are employed by Blockstream, a private, for-profit company.)
Businesses, users and miners have asked for four years for the block size to be increased. They point out that Satoshi has always planned to scale Bitcoin by increasing the block size. For four years, Core/Blockstream has refused.
The Bitcoin community split into two factions:
This scaling debate and in-fighting went on for several years. During this time, the controllers of bitcoin and Bitcointalk censored big blockers. Comments that criticized small blocks or supported big blocks, were deleted. You can read more about it at: https://np.reddit.com/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/dl8v4lp/?st=jaotbt8m&sh=222ce783
SMALL BLOCKERS VS BIG BLOCKERS
Why has Blockstream refused to increase block size? There are a few possible reasons:
  1. They truly believe that big blocks means that fewer people would be able to run full nodes, which would lead to centralization and that the best roadmap is with off-chain solutions. (However, since 2009, hard disk space has exploded. A 4TB disk costs $100 and can store 10 years of blocks. This price is the equivalent to a handful of Bitcoin transaction fees. Also, Satoshi never planned on having every user run full nodes. He envisioned server farms. Decentralization is needed to achieve censorship-resistance and to make the blockchain immutable. This is already accomplished with the thousands of nodes. Having millions or billions of nodes does not increase the censorship-resistance and does not make the blockchain more immutable.)
  2. Blockstream wants small blocks, high fees and slow confirmations to justify the need for their off-chain products, such as Liquid. Blockstream sells Liquid to exchanges to move Bitcoin quickly on a side-chain. Lightning Network will create liquidity hubs, such as exchanges, which will generate traffic and fees for exchanges. With this, exchanges will have a higher need for Liquid. This is the only way that Blockstream will be able to repay the $76 million to their investors.
  3. They propose moving the transactions off the blockchain onto the Lightning Network, an off-chain solution. By doing so, there is a possibility of being regulated by the government (see https://np.reddit.com/btc/comments/7gxkvj/lightning_hubs_will_need_to_report_to_irs/). One of Blockstream’s investors/owners is AXA. AXA’s CEO and Chairman until 2016 was also the Chairman of Bilderberg Group. The Bilderberg Group is run by politicians and bankers. According to GlobalResearch, Bilderberg Group wants “a One World Government (World Company) with a single, global marketplace…and financially regulated by one ‘World (Central) Bank’ using one global currency.” Does Bilderberg see Bitcoin as one component of their master plan?
  4. They do not like the fact that most of the miners are in China. In this power-struggle, they would like to take away control and future revenues from China, by scaling off-chain.
Richard Heart gives his reasons why block size should not be increased, in this video: https://www.youtube.com/watch?time_continue=2941&v=iFJ2MZ3KciQ
He cites latency as a limitation and the reason for doing off-chain scaling. However, latency has been dramatically reduced since 2009 when Bitcoin started with 1MB blocks. Back then, most residential users had 5-10 Mbps internet speed. Now, they have up to 400 Mbps up to 1 Gbps. That’s a 40 to 200X increase. Back in 2009, nobody would’ve thought that you can stream 4k videos.
He implies that 10 minute intervals between block creations are needed in order for the blocks to sync. If internet speed has increased by 40-200X, why can’t the block size be increased?
He claims that bigger blocks make it more difficult for miners to mine the blocks, which increases the chances of orphaned blocks. However, both speeds and the number of mining machines have increased dramatically, causing hashing power on the network to exponentially increase since 2009. This will likely continue increasing in the future.
Richard says that blocks will never be big enough to do 2,000 transactions per second (tps). He says that all of the forks in the world is only going to get 9 tps. Since his statement, Peter Rizun and Andrew Stone have shown that a 1 core CPU machine with 3 Mbps internet speed can do 100 tps. (https://youtu.be/5SJm2ep3X_M) Rizun thinks that visa level (2,000 tps) can be achieved with nodes running on 4-core/16GB machines, bigger blocks and parallel processing to take advantage of the multiple CPU cores.
Even though Rizun and Stone are showing signifiant increases in tps with bigger blocks, the big blockers have never been against a 2nd layer. They’ve always said that you can add a 2nd layer later.
CORE/BLOCKSTREAM VS MINERS
According to Satoshi, Bitcoin should be governed by those with the most hashing power. One hash, one vote. However, Core/Blockstream does not agree with this. Due to refusals for four years to increase block size, it would seem that Core/Blockstream has been able to wrestle control away from miners. Is this because they want control? Is this because they don’t want the Chinese to have so much, or any, control of Bitcoin? Is this because they prefer to eventually move the revenue to the West, by moving most of the transactions off chain?
DIFFERENT AGENDAS
It would seem that Businesses/Users and Core/Blockstream have very different agendas.
Businesses/Users want cheap and fast transactions and see this as an immediate need. Core/Blockstream do not. Here are some quotes from Core/Blockstream:
Greg Maxwell: "I don't think that transaction fees mattering is a failing-- it's success!”
Greg Maxwell: "fee pressure is an intentional part of the system design and to the best of the current understanding essential for the system's long term survial. So, uh, yes. It's good."
Greg Maxwell: "There is a consistent fee backlog, which is the required criteria for stability.”
Peter Wuille: "we - as a community - should indeed let a fee market develop, and rather sooner than later”
Luke-jr: "It is no longer possible to keep fees low.”
Luke-jr: "Just pay a $5 fee and it'll go through every time unless you're doing something stupid.”
Jorge Timón: "higher fees may be just what is needed”
Jorge Timón: "Confirmation times are fine for those who pay high fees.”
Jorge Timón: “I think Adam and I agree that hitting the limit wouldn't be bad, but actually good for an young and immature market like bitcoin fees.”
Mark Friedenbach: "Slow confirmation, high fees will be the norm in any safe outcome."
Wladimir J. van der Laan: “A mounting fee pressure, resulting in a true fee market where transactions compete to get into blocks, results in urgency to develop decentralized off-chain solutions.”
Greg Maxwell: “There is nothing wrong with full blocks, and blocks have been “full” relative to what miners would produce for years. Full blocks is the natural state of the system”
Wladimir J. van der Laan: “A mounting fee pressure, resulting in a true fee market where transactions compete to get into blocks, results in urgency to develop decentralized off-chain solutions. I'm afraid increasing the block size will kick this can down the road and let people (and the large Bitcoin companies) relax”
Why don’t Core/Blockstream care about cheap and fast transactions? One possible reason is that they do not use Bitcoin. They might own some, but they do not spend it to buy coffee and they do not use it to pay employees. They aren’t making hundreds of transactions per day. They do not feel the pain. As engineers, they want a technical utopia.
Businesses/Users on the other hand, feel the pain and want business solutions.
An analogy of this scaling debate is this:
You have a car that is going 50 kph. The passengers (Bitcoin users) want to go 100 kph today, but eventually in the future, they want to go 200 kph. The car is capable of going 100 kph but not 200 kph. Big blockers are saying: Step on the accelerator and go 100 kph. Small blockers are saying: Wait until we build a new car, which will go 200 kph. Meanwhile, the passengers are stuck at 50 kph.
Not only do Big blockers think that the car can simply go faster by stepping on the accelerator, they have already shown that the car can go even faster by adding a turbocharger (even bigger blocks) and making sure that every cylinder is firing (parallel process on multiple CPU cores). In addition, they are willing to use the new car if and when it gets built.
CORE/BLOCKSTREAM VS USERS
If you watch this debate from 2017-02-27 (https://youtu.be/JarEszFY1WY), an analogy can be made. Core/Blockstream is like the IT department and Bitcoin.com (Roger Ver and Jake Smith) is like the Sales/Marketing department (users).
Core/Blockstream developers hold, but do not use Bitcoin. Blockstream does not own nor use Bitcoin. Roger Ver's companies use use Bitcoin every day. Ver’s MemoryDealers was the first company to accept Bitcoin. Johnny seems to think that he knows what users want, but he rarely uses Bitcoin and he is debating one of the biggest users sitting across the table.
In all companies, Marketing (and all other departments) is IT’s customer. IT must do what Marketing wants, not the other way around. If Core/Blockstream and Roger Ver worked in the same company, the CEO would tell Core/Blockstream to give Roger what he wants or the CEO would fire Core/Blockstream.
But they don’t work for the same company. Roger and other businesses/users cannot fire Core/Blockstream.
Core/Blockstream wants to shoot for the best technology possible. They are not interested in solving short term problems, because they do not see high fees and long confirmation times as problems.
BLOCKSTREAM VS LIBERTARIANS
There are leaders in each camp. One can argue that Blockstream is the leader of the Small Blockers and Roger Ver (supported by Gavin Andresen, Calvin Ayre, businesses and some miners) is the leader of the Big Blockers.
Blockstream has openly called for full blocks and higher fees and they are preparing to scale with Lightning Network. As mentioned before, there is a possibility that Lightning hubs will be regulated by the government. Luke-jr tweeted “But State has authority from God” (https://twitter.com/LukeDashjstatus/934611236695789568?s=08) According to this video, Luke-jr believes that the government should tax you and the government should execute heretics. Luke-jr's values are diametrically opposed to libertarians'.
Roger Ver wants Bitcoin to regulate the government, not the other way around. He wants to weaken and shrink the government. In addition to separation of church and state, he wants to see separation of money and state. He felt that Bitcoin can no longer do this, so he pushed for solutions such as Bitcoin Unlimited.
MIKE HEARN EXPLAINS BLOCKSTREAM
Mike Hearn is one of the first Bitcoin developers. He explained how Core/Blockstream developers (source):
THE DIVORCE
To prepare for off-chain scaling, Core/Blockstream forked Bitcoin by adding Segwit, which I will refer to as Bitcoin Legacy. This is still referred to by the mainstream as Bitcoin, and it has the symbol BTC.
After four years of refusal by Blockstream, the big blockers, out of frustration, restored Bitcoin through a fork, by removing Segwit from Bitcoin Legacy and increased the block size. This is currently called Bitcoin Cash and has the symbol BCH.
Bitcoin Legacy has transformed from cash to store-of-value. It had a 8 year head start in building brand awareness and infrastructure. It’s likely that it will continue growing in popularity and price for a while.
Bitcoin Cash most resembles Satoshi’s “peer-to-peer cash”. It will be interesting to see if it will pick up from where Bitcoin Legacy left off and take market share in the fiat currency space. Libertarians and cypherpunks will be able to resume their mission of weakening and shrinking the government by promoting Bitcoin Cash.
Currently, Bitcoin Cash can fulfill the role of money, which includes medium of exchange (cash) and store-of-value functions. It will be interesting to see if off-chain scaling (with lower fees and faster confirmations) will enable Bitcoin Legacy to be used as a currency as well and fulfill the role of money.
This is an example of the free market and open competition. New companies divest or get created all the time, to satisfy different needs. Bitcoin is no different.
Small blockers and big blockers no longer need to fight and bicker in the same house. They have gone their separate ways.
Both parties have what they want. Blockstream can store value and generate revenue from their off-chain products to repay their investors. Libertarians (and gambling operators) can rejoice and re-arm with Bitcoin Cash to take on the government. They can continue with their mission to get freedom and autonomy.
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Bitcoin $27,000 By Feb 2018 I'm A Teenage Bitcoin Millionaire - YouTube Make Money 10000$ Per Day With Bitcoin  Without ... Bitcoin Millionär mit 17 Jahren -100.000$ pro Monat ! How I became a millionaire thanks to bitcoin - YouTube

Bei aktuell ca. 36 Millionen Millionären auf der Welt, hat es Bitcoin laut Zahlen von „Coinmetrics“ geschafft 12.000 Millionäre zu erschaffen. Der Chart dazu sieht natürlich sehr ähnlich zum Verlauf des Bitcoin Kurses aus. Here's the chart for the number of Bitcoin Millionaires over time*, around 12,000 right now. Aktualisiert: 27.02.18 16:41. Irre These. Finanzguru packt aus: Bitcoin ist gefährlichster Betrug aller Zeiten . von Jasmin Pospiech. schließen. Traditionelle Finanzexperten wettern gegen die ... Bitcoin : il est devenu millionnaire en investissant 27 dollars. C’est ce qui s’appelle un investissement parfait ! Le norvégien Kristoffer Kosh a tout simplement multiplié par environ 33 000 sa « mise » de départ. En fait, ce jeune homme a tout simplement acheté l’équivalent de 150 couronnes en bitcoins (environ 18,6 euros ou 25 dollars canadiens) il y a 4 ans, cette monnaie ... In its short lifespan, the price of Bitcoin has gone from less than a cent to hit nearly $20,000, back in 2017. Unsurprisingly, it’s made some people rich Bitcoin Millionaire is an automated software program that helps people invest “surprisingly easily” in the Bitcoin market, which they say is currently valued at more than $12.2 billion. Bitcoin is a type of electronic, alternative currency system that people are beginning to invest in, the same way many people invest in foreign currencies, but which is currently unregulated by any ...

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Bitcoin $27,000 By Feb 2018

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