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airoasis · 6 years ago

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Why I Choose Bitcoin Cash

New Post has been published on https://hititem.kr/why-i-choose-bitcoin-cash/

Why I Choose Bitcoin Cash

I prefer a Peer to see digital money over the whole lot. Correct now the first-class form of this comes in the form of Bitcoin cash, which holds the ticker BCH on virtually all exchanges. My title is Collin Enstad, i’ve lived in the USA my entire lifestyles. I am a freelance director / cinematographer / steadicam operator. I first heard about Bitcoin in 2013 in the course of its bubble, the place it peaked at $1200. I consider my first purchase was once around $one hundred fifty however I only bought a bit bit, as much as I might find the money for being a broke school pupil. I made some cash and purchased matters with it, like this bizarre digicam rig. Of course part of the adoption of bitcoin is brought about via men and women speculating trying to generate income off of it. But i noticed I had actual utility, I could use it as money. An investment that’s liquid as hell. Excellent. I requested an harmless query in late 2015 on the uncensored bitcoin subreddit, /r/btc: ELI5: Why achieve this many individuals insist on a small block size?. I got first-rate answers, similar to Blockstreams function in taking up the progress, how Peter Todd remains to be seeking to these days to kill 0-affirmation transactions, and how the Core devs have been proscribing the bottom layer to push a 2nd one that they claimed would be even higher than the actual blockchain.All of these aspects nonetheless maintain proper to nowadays. I even respect a number of the names within the thread from again then with persons I still speak to in these days. I even had some put up calling out theymos, the king of censorship, round this time. How things have no longer transformed. The extra I dig up the more obvious the manipulation of public opinion. Once more, this was once in 2015 this was all being called out, 4 years ago. Thats close to 1/2 of bitcoins lifetime. Crypto is really just politics, but on a time scale which appears hundreds and hundreds of times faster.I was once continuously a huge blocker. 1MB is tiny. Its less knowledge than a 2d of this video. It gave the impression a majority of the community back in 2015 was once for bigger blocks too. How a small crew of Core developers took over and sabotaged the bitcoin experiment with never-ending small blocks will be rather the exciting case be taught in historical past class. Im nonetheless seeking to utterly wrap my head around how Gavin, the character Satoshi entrusted with the keys to the bitcoin code, used to be pushed out and ostracized for looking the logical answer, higher blocks.Its a narrative that takes a long time to tell, and entails a false Satoshi. Im currently engaged on a feature size documentary about the shitshow that’s bitcoins history. The real down and dirty bitcoin politics, no longer some loud mouth troll showing up on tv spouting nonsense. So the fork happened in August 2017 and the large block version, Bitcoin cash, didn’t win over the hearts and minds of traders. Instantaneous ridicule from the Core persons ensued, as used to be par for the path. Bcash is trash was once their mantra, in an try to rip the word bitcoin out of its name. Now take into account, theymos fairly ramped up his censorship on /r/bitcoin in 2015. Reddit used to be THE spot to talk bitcoin, and theymos actions make him, individually, the only greatest affect on this whole Scaling warfare. Go to any publish from again then about theymos increasing moderation and appear at how many individuals vehemently adverse it.One of bitcoins most important residences is censorship-resistance, however apparently whenever you go away the protocol layer you additionally abandon all of its ethos. When your methods hotel to silencing the opposition you understand your arguments aren’t on stable floor. If they were, they might let all of the dissent come their approach and evaporate before them in the face of truth. However no. The block and ban buttons are used as a type of religious piety. This itself was once a tremendous red flag that some thing used to be wrong with Bitcoin. As a latest concrete instance of manipulation, My ultra-modern video criticizing the lightning community was once the top put up on /r/btc, except every week historic news story broke in regards to the Twitter CEO, Jack, purchasing a hardware pockets all of a sudden unseated it. This Jack story was once in a antagonistic sub and it won the highest spot in an hour. Mods deleted the submit shortly after. The account had a history of vote botting. Proof Of Social Media. Par for the course for those against peer to peer money. And this this is the place I just get angry.BTC does no longer work as a trustworthy form of money, but its still pushed on unsuspecting noobs, many who now go to the bcash sunday service. These social media influencers have 10s of hundreds of thousands of followers that they preach the nice word to absolutely this many folks wouldnt listen to any person who was just basically unsuitable! This market is immature and albeit, just dumb. I really awoke to all of this when instantly I was paying $1 for a transaction rate in early 2017. This isn’t what I signed up for. My money will have to not disappear every time I need to move it. When Bitcoin cash forked, I was all in, actually with my nonetheless tiny stash and figuratively from an ideological standpoint. Does this provide me investment bias? Almost always, however again, Im now not talking tremendous cash right here.Irregardless, I do my research and its the one coin i can confidently put my cash in. I do know what it is trying to do is the reason bitcoin was created in the first place, which is what once more? Oh yeah, to offer each person in the world an possibility to be their own bank. To give humans the potential to transact with anyone in the world with out the necessity of a 3rd celebration, even if they make not up to $2 a day. That is bitcoin. I kept diving deeper into the rabbit hole. Undoubtedly each person couldnt be this deluded however they were. Advocating for the shrewd factor of raising the blocksize and how BCH is a reliable variation of Bitcoin on social media has been tiring. I dont know the way a few of these trolls are so lively and simply hostile.I grew up with the web, part of the primary iteration that had social media for his or her whole middle and excessive institution experience. However these bitcoin guys man, the most poisonous i have ever seen. You have to have thick epidermis when you even believe about having impartial idea in crypto. Its sad. I haven’t any doubt there are individuals whose full-time job it is to sow up disagreement and strife within people who want to see Bitcoin be the arena money. Theres even proof of In November of 2017 I made a industrial for BCH with the support of the Bitcoin money association. It used to be a excessive high-quality industrial in a barber store which showed bitcoin getting used as cash. Response from the group was once nice, and i located myself in Tokyo a pair months later shooting the Satoshis vision convention, where a few of the Bitcoin cash group attended.I interviewed lots of the prime leaders in BCH for the period of that point interval for my documentary together with Craig Wright. This man appeared to come out of nowhere and was once a large suggest of Bitcoin cash. He had charisma, unquestionably, even when his Satoshi claims have been iffy. I consider the BCH neighborhood sided with him on account that he was once so anti-core. An enemy of an enemy is your buddy. And on the grounds that this buddy was very aggressive and outspoken in the direction of the purpose, many were inclined to let his shadiness slide.However very quickly after this convention actual bitcoin devs, who in reality work on and comprehend the bitcoin protocol, began calling him out on his lies. It was once rough to confess youd been duped, but right here we all are. Then, of direction he forked off into his possess coin months later, and his fraud lives on. Then comes the altcoin arguments. For those who dont like BTC so much simply use nano? Dash is the real peer to see cash! Lol noob do you even cardano? Well, considering BCH has the identical transaction historical past relationship again to the genesis block in 2009, one could argue the distribution of the coin is more decentralized than any of the altcoins, due to the fact that it has been around the longest.Im a strong believer in Proof of work as well. Even though BCH has a lot less hashpower than BTC, it has been shown how a gigantic portion of hash would transfer to BCH in safeguard of a malicious actor, like we noticed within the hashwar. The miners like Bitcoin money, however they generally follow gains, and this means mining BTC and BCH on the same price as the fee ratio between them. Now that BCH is free from its former crippled blocksize, most things the altcoins can do, BCH would enforce itself. Even things just like the lightning community would work muchhhh higher on Bitcoin cash as a result of the small charges to open and shut channels. Bitcoin was once intended to be the one crypto that ruled all of them, absorbing the quality altcoin facets. Vitalik Buterin found out this was no longer the case to any extent further, and he ran off to make Ethereum in 2015 after a lot combating with the Core devs. So right here I to find myself, in March 2019, nonetheless a supporter of Bitcoin cash. That you may believe the creative and grassroots power of individuals who just wish to construct. I hear the Bitcoin OGs say its the same spirit that bitcoin had it in its early days.Persons that CARE about making bitcoin exceptional again. And of path, the small blocks made building apps problematic for devs, because the excessive charges and sluggish confirmations might disable some functions who relied on inexpensive and speedy transactions. Full blocks rationale unreliability. And if youre a dev and need to construct an app, why within the hell would you use a base protocol that can instantly price $50 for a single use. If BCH stops being the excellent type of P2P money, make no mistake, i’d drop aid. Im no longer a blind follower and am at all times watching to mission my beliefs. Tokens, Decentralized handles, Badger wallet, suggestions.Cash, CashShuffle, Satoshidice the record goes on. So many of those projects are simply now hitting the Bitcoin cash market, and wallets are looking to catch up and implement these elements as speedy as they may be able to.Its nonetheless early in Bitcoin Cashs development existence, and the power within the community is the equal one I felt once I first received into it, vibrant, filled with hope for a greater future, and now with an added tenacity to make certain that no dangerous actors can once once more spoil the imaginative and prescient of Peer to look cash for the complete world. .

#bitcoin #bitcoin cash #bitcoincash #crypto #cryptocurrency

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batterymonster2021 · 6 years ago

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Why I Choose Bitcoin Cash

New Post has been published on https://hititem.kr/why-i-choose-bitcoin-cash/

Why I Choose Bitcoin Cash

#bitcoin #bitcoin cash #bitcoincash #crypto #cryptocurrency

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mavwrekmarketing · 8 years ago

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Alon Bonder Crunch Network Contributor

Alon Bonder is a vice president at Venrock, investing in early-stage tech startups.

More posts by this contributor:

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How to join the network

If youve ever played Candy Crush on your smartphone during a morning commute, youll understand why some have compared it to an addictive drug. In fact, its an analogy that might be more true than most people realize. Beneath the surface of cheerful characters and colorful graphics is a booming empire worth billions in annual revenue built to sell you your next fix of progress for the low price of an in-game purchase.

Taken in aggregate, mobile games now collectively represent a staggering 85 percentof all app revenues in any form largely from the sale of such virtual goods. However, even this multi-billion-dollar market is just the tip of the iceberg when it comes to the possibilities for virtual goods sales in the coming waves of online media.

Virtual goods in virtual reality

One of the most striking elements of Ernest Clines recent hit novel Ready Player Onewas the vision of a fully immersive world built in virtual reality. Characterized by a limitless set of new products and experiences, this world inevitably became the focal point for both the personal and professional lives of millions of users. The result was a massive virtual economy catering to a growing population of digital denizens.

In fact, this futuristic scenario is not without precedent. Launched back in the early 2000s, the game Second Life was one of the first to approach this vision reaching more than1 millionactive monthly users and $3 billionin virtual goods transactions over the course of its lifetime.

The real question is, if users were willing to spend this much to experience virtual goods in a two-dimensional world, how much more might they spend to experience them in true VR? This would mean the difference between seeing fashionable clothes on your desktop avatar and feeling like youre wearing them firsthand.

Virtual goods will both enable new experiences and redefine traditional ones.

Because virtual goods feel more real in virtual reality, they benefit from a higher perceived value. This is not only great news for consumers, who get to experience a more valuable set of new digital products and services, but also for developers, who benefit from nearly nonexistent marginal costs of production.

Augmented reality also presents its own set of opportunities. As display technologies advance to the point where virtual goods start to feel more tangible, well not only see an increase in their value, but also their utility. Why buy a real 120 plasma screen when you can have a virtual one generated by your upgraded eyewear for much less? Especially when that virtual screen eliminates the need for installation and even follows you around the house so you dont miss a minute of your favorite shows.

This persistent use case represents an important tipping point, where virtual goods could start cannibalizing the market for physical ones.

Online gambling and e-sports

Since the acquisition of Twitch by Amazon for nearly $1 billionin late 2014, the broader public has been paying far more attention to the growing popularity of e-sports. Between advertising, sponsorships, media rights, merchandise and ticket sales, this market is expected to generate $463 millionin revenue in 2016 alone.

Beyond the obvious implications for virtual goods in gaming (i.e. players buying gear to improve their performance) is a secondary gray market that may be far larger online gambling.

Thus far, the most advanced of these markets has sprung up around the game Counter-Strike: Global Offensive (CS:GO for short). The reason is that the games developer, Valve, introduced decorative virtual weapons known as skins, which players can acquire in the game and sell for real money on third-party platforms (outside of the gaming environment). By 2015, this dynamic had given rise to an active gambling market comprising more than 3 million people wagering $2.3 billion worth of skins.

Following the trend of traditional sports, it was never really a question of whether e-sports gambling would emerge, but rather how it would emerge. Amazingly, by allowing virtual goods to migrate beyond the confines of its game, Valve created a currency that powered a tangential but distinct market. While Valve was eventually forced to curtail the practicebecause of regulatory pressure, latent consumer demand will almost certainly find a way to drive it back into the mainstream. After all, a $2 billion market doesnt just disappear overnight.

Turning upgrades into investments

At first blush, Valves decision to allow virtual goods to leave their gaming platform may have seemed like a risky one. Rather than just pouring money into a single isolated game, players now had the ability to cash out and migrate their interests elsewhere. In theory, this could have made it much easier for players to quit the game. In practice, it significantly drove up the value of players investments.

The term investments is used very literally in this case, because the existence of an external market transmuted in-game purchases from simple upgrades into assets.

In fact, Valve is perfectly positioned to reap the benefits of a more open market for virtual goods. As the developer of Steam, one of the most popular PC gaming platforms, Valves performance isnt just tied to a single game, but a broader connected ecosystem. Allowing players to migrate from one game to another represents a significant long-term value.

While virtual goods may never reach the status of more traditional asset classes like stocks or bonds, their growing value, appeal and transferability will unlock new opportunities for investors and developers alike. One thing is for certain the days when a sword was just a sword may soon be behind us.

Building the guide rails

In a world where virtual goods play a more critical role in defining digital experiences, entrepreneurs will find a mix of new challenges and opportunities. For example, were already starting to see the emergence of rampant fraud in virtual goods transactions. In the first half of 2015, the global in-app purchase fraud rate the number of virtual goods downloads that take place without revenue changing hands was 7.49. When broken down by country, the U.S. came in at a moderate 1.5, while China reported an astronomical 273.2!

On the one hand, these fraud statistics reinforce the excitement and demand surrounding virtual goods, but on the other, they threaten to undermine the incentive for their creation. To address this risk, we will need to develop a new set of resources and tools to support the growing industry. Among the most pressing needs are: (1) creation tools for generating and distributing 3D content; (2) management tools for tracking and monetizing 3D content across platforms; (3) transactional tools for facilitating sales and exchanges between consumers; and (4) educational tools for the syndication of stats and important industry news.

A look ahead

As we look ahead at the next evolution of our digital ecosystem, it seems certain that virtual goods will have a much larger role to play. From allowing us to vanquish a new breed of digital monsters to defining a modern asset class, virtual goods will both enable new experiences and redefine traditional ones. Along the way, this new gold rush will create plenty of opportunities for the enterprising prospector and shovel-seller alike.