BitCash - The World's Most Usable Cryptocurrency

This sub seems to be abandoned. No wonder the hash rate is flowing away from bitcoin to bitcash....I switched to mining peercoin. Once the miners all leave, HODL wont mean squat.... /r/Bitcoin

This sub seems to be abandoned. No wonder the hash rate is flowing away from bitcoin to bitcash....I switched to mining peercoin. Once the miners all leave, HODL wont mean squat.... /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

11-13 05:22 - 'This sub seems to be abandoned. No wonder the hash rate is flowing away from bitcoin to bitcash....I switched to mining peercoin. Once the miners all leave, HODL wont mean squat....' (i.redd.it) by /u/0t15_f1r3fly_1000 removed from /r/Bitcoin within 7-17min

This sub seems to be abandoned. No wonder the hash rate is flowing away from bitcoin to bitcash....I switched to mining peercoin. Once the miners all leave, HODL wont mean squat....
Go1dfish undelete link
unreddit undelete link
Author: 0t15_f1r3fly_1000
submitted by removalbot to removalbot [link] [comments]

Bitcoin Cash is not a scamcoin. Clearing up the FUD. (crosspost /r/cryptocurrency)

Definition of a scam :
a dishonest scheme; a fraud.
First of all, let me start with off with this. No one wanted Bitcoin Cash to exist, no one wanted another Bitcoin subreddit to exist (/BTC).
This is how Bitcoin Cash was forked off & the reasons.
In 2015, the plan was made by the Bitcoin Core developers and the community supported it. This plan was to increase the blocksize. He said in 2015, 2MB now, 4MB in 2 years, 8MB in 4 years then re-assess.
The plan was very simple. Increase the blocksize, lower fees for everyone, more transactions possible. But this changed in 2015.
The Moderators of /Bitcoin, particularly theymos who not only controls /Bitcoin but also Bitcoin.org and BitcoinTalk.org, decided to censor pro-bigblocks supporters (which was technically everyone because no one knew of any other solution that would work right now). The effects were there. Bitcoin users left in 2017 as the fees rose too high, while the others remained hoping that a solution would be found or they shifted to BCH or other coins.
This led to BTC losing their market cap percentage and led to other altcoins to rise.
Core developers have said that Segwit and Lightning is going to solve the problem. Lightning was said in 2015 December to be released in 2016 1, 2.
Segwit is not a long term solution and will weaken Bitcoin's security. It allows more transactions but it is irreversible. You can't go back to non-Segwit after using SegWit.
Lightning is very centralized and complicated. It requires you to be online 24/7, have your private keys connected to the Internet and requires you to first do an on-chain transaction to open a channel.
To even get the community to believe that lightning and segwit is a solution, they had to censor the main channels (/Bitcoin, Bitcoin.org and BitcoinTalk.org)
OpenBazaar dev explains why they aren't adding Lightning
Bitcoin Cash is not BCash, B Cash, Bcash, Bitchcash, Bitcash, BTrash. It is Bitcoin Cash (BCH). This and this is Bcash, this is BTrash
BCH is not controlled by the 'Chinese' or 'Jihan'. A substantial amount of mining is done outside of China. The same can go for BTC, where BTC has got about 70% of their mining done in China.
BCH was not forked off by Roger Ver or Jihan Wu, they are only promoters, investors and people that create products for Bitcoin Cash. BCH was forked off by a group of miners including Amaury Sechet.
BCH is entitled to using the name bitcoin because it has the genesis block in it and because it is loyal to the original Satoshi whitepaper where bitcoin was first mentioned/coined.
BCH can definitely scale on-chain at least for sometime. Right now at 24 TPS. It can scale with bigger blocks. Centralization will not occur. Satoshi already mentioned that big servers with hashpower would be the ones mining while users will remain users. SPV is a solution for users, while miners will run a full node (copy of the blockchain and hashpower), while business, hobbyists, researchers and others can choose to run SPV or relay nodes (nodes that have the copy of the blockchain but do not have hashpower at all)
Roger Ver raging publicly or being a felony isn't an argument to say that BCH is controlled by him.
If you don't like BCH, it does not make it a scam. Just don't use it.
If you find Roger Ver or Calvin Ayre a controversial figure, that also does not make BCH a scam.
If you find Coinbase expressing their support towards BCH, that does not make it a scam.
If you know that there's a better coin in your opinion, that does not make it a scam.
Some resources/links :
https://np.reddit.com/Bitcoin/comments/31vi0t/theymos_friends_as_mods_here
https://np.reddit.com/Bitcoin/comments/41102k/if_theymos_truly_cares_about_bitcoins_success_he
https://np.reddit.com/Bitcoin/comments/3l36ck/guess_this_will_be_censored_but_theymos_opens_up
https://np.reddit.com/Bitcoin/comments/3h5f90/these_mods_need_to_be_changed_upvote_if_you_agree/
The story of /Bitcoin, /BTC, Bitcoin & Bitcoin Cash
A collection of evidence
Why some people call Bitcoin Cash Bcash
Lukejr mentioning slavery is moral
TL:DR : Bitcoin Cash is not a scam because no one is being robbed. It was forked off because Bitcoin's development was hijacked by Bitcoin Core. Fees were getting high and solutions that aren't out yet were being proposed, while a solution that's ready isn't proposed. If you don't like it, simply choose not to use it.
edit : edited a paragraph to clarify it more in depth.
submitted by thepaip to btc [link] [comments]

Bitcoin Cash is not a scamcoin. Clearing up the FUD.

Definition of a scam :
a dishonest scheme; a fraud.
First of all, let me start with off with this. No one wanted Bitcoin Cash to exist, no one wanted another Bitcoin subreddit to exist (/BTC).
This is how Bitcoin Cash was forked off & the reasons.
In 2015, the plan was made by the Bitcoin Core developers and the community supported it. This plan was to increase the blocksize. He said in 2015, 2MB now, 4MB in 2 years, 8MB in 4 years then re-assess.
The plan was very simple. Increase the blocksize, lower fees for everyone, more transactions possible. But this changed in 2015.
The Moderators of /Bitcoin, particularly theymos who not only controls /Bitcoin but also Bitcoin.org and BitcoinTalk.org, decided to censor pro-bigblocks supporters (which was technically everyone because no one knew of any other solution that would work right now). The effects were there. Bitcoin users left in 2017 as the fees rose too high, while the others remained hoping that a solution would be found or they shifted to BCH or other coins.
This led to BTC losing their market cap percentage and led to other altcoins to rise.
Core developers have said that Segwit and Lightning is going to solve the problem. Lightning was said in 2015 December to be released in 2016 1, 2.
Segwit is not a long term solution and will weaken Bitcoin's security. It allows more transactions but it is irreversible. You can't go back to non-Segwit after using SegWit.
Lightning is very centralized and complicated. It requires you to be online 24/7, have your private keys connected to the Internet and requires you to first do an on-chain transaction to open a channel.
To even get the community to believe that lightning and segwit is a solution, they had to censor the main channels (/Bitcoin, Bitcoin.org and BitcoinTalk.org)
OpenBazaar dev explains why they aren't adding Lightning
Bitcoin Cash is not BCash, B Cash, Bcash, Bitchcash, Bitcash, BTrash. It is Bitcoin Cash (BCH). This and this is Bcash, this is BTrash
BCH is not controlled by the 'Chinese' or 'Jihan'. A substantial amount of mining is done outside of China. The same can go for BTC, where BTC has got about 70% of their mining done in China.
BCH was not forked off by Roger Ver or Jihan Wu, they are only promoters, investors and people that create products for Bitcoin Cash. BCH was forked off by a group of miners including Amaury Sechet.
BCH is entitled to using the name bitcoin because it has the genesis block in it and because it is loyal to the original Satoshi whitepaper where bitcoin was first mentioned/coined.
BCH can definitely scale on-chain at least for sometime. Right now at 24 TPS. It can scale with bigger blocks. Centralization will not occur. Satoshi already mentioned that big servers with hashpower would be the ones mining while users will remain users. SPV is a solution for users, while miners will run a full node (copy of the blockchain and hashpower), while business, hobbyists, researchers and others can choose to run SPV or relay nodes (nodes that have the copy of the blockchain but do not have hashpower at all)
Roger Ver raging publicly or being a felony isn't an argument to say that BCH is controlled by him.
If you don't like BCH, it does not make it a scam. Just don't use it.
If you find Roger Ver or Calvin Ayre a controversial figure, that also does not make BCH a scam.
If you find Coinbase expressing their support towards BCH, that does not make it a scam.
If you know that there's a better coin in your opinion, that does not make it a scam.
Some resources/links :
https://np.reddit.com/Bitcoin/comments/31vi0t/theymos_friends_as_mods_here
https://np.reddit.com/Bitcoin/comments/41102k/if_theymos_truly_cares_about_bitcoins_success_he
https://np.reddit.com/Bitcoin/comments/3l36ck/guess_this_will_be_censored_but_theymos_opens_up
https://np.reddit.com/Bitcoin/comments/3h5f90/these_mods_need_to_be_changed_upvote_if_you_agree/
The story of /Bitcoin, /BTC, Bitcoin & Bitcoin Cash
A collection of evidence
Why some people call Bitcoin Cash Bcash
Lukejr mentioning slavery is moral
TL:DR : Bitcoin Cash is not a scam because no one is being robbed. It was forked off because Bitcoin's development was hijacked by Bitcoin Core. Fees were getting high and solutions that aren't out yet were being proposed, while a solution that's ready isn't proposed. If you don't like it, simply choose not to use it.
edit : clarified a paragraph more in depth
Edit 2 : i mentioned that mentioning about luke jr mentioning slavery is moral is irrelevant, but i'm just trying to also show how insane he is as an example.
submitted by thepaip to CryptoCurrency [link] [comments]

[How to] Legally buy music from mora.jp outside of Japan with little fees

Hello jpop !
Are you tired of getting cucked by mora.jp's IP and billing address checks? Look no further! All you gotta do is follow some workarounds and you'll be downloading your beloved mora in no time.
Please use Chrome as your browser as it has a built in translate button when you right click a foreign page. Other browsers may or may not have this, and it helps A LOT to those who don't understand Japanese
Step 1: Buy a Bitcash code online
I personally suggest offgamers as they're the cheapest and they accept any debit/credit cards, PayPal, Bitcoin, and a lot more options. If you find a retailer that provides it for cheaper, let me know in the comments.
For a 1000Y card, you are paying $10.71 USD + processing fees. PayPal and debit/credit have around a 50 cent free, but Bitcoin is around 10 cents (this is not the mining fee).
Don't know how to get Bitcoin? For those in the United States, I personally use Cash app for the convenience and I don't mind the ~$50-$100/BTC markup rate. They allow me to buy Bitcoin with my bank account and debit card instantly after verifying with their support (took me less than a day). To those with access to exchanges, just use that. Mining fees are about 5-10 cents depending on how fast you want the transaction to confirm.
Why use Bitcoin when there's Paypal and debit/credit card?
BTC is anonymous and Offgamers requires 6 confirmations for BTC transactions to send out your code instantly which can be quick depending on the fee used for the transaction. Offgamers may need to verify your information if you used debit/credit/PayPal before they send your code out. Their support team is also questionable at some times as they outsource.
This code is in Hiragana: if you don't understand hiragana, ask a friend or try using google translate handwrite tool (this works 90% of the time because some characters can be similar but are wrong). e.g. After I used the translate tool and site said wrong code; my friend corrected me. His quote below.
The 2nd character after the first dash was the small form in yours ... Cause that character means different stuff if its big or small
Step 2: Getting a VPN
You will need to get a Japanese IP that can bypass mora.jp's IP check. A free and easy VPN I use is ZenVPN. It says free trial, but once your trial is up you can keep getting free trials by using different emails. Other paid, non-logging options include NordVPN or ExpressVPN. Do not turn off your VPN until you are completely done downloading your music
Step 3: Buying your mora and downloading it
After setting up your VPN and checking if your new VPN IP is genuinely from Japan, you are now ready to purchase music.
Add your desired music to cart and create an account to check out. There is a "change payment option" which you change to Bitcash and you then put in your 16 character hiragana code without the dashes. Payment should be deducted from the balance on the code (they give you a link at checkout to check the balance too).
It should then redirect you to their mora downloader page. Simply install and run, you shouldn't need a translator to do this imo. Your newly purchased music should pop up and all you have to do is press the download arrow. Downloaded music is defaulted to C:\Users\x\Music\mora
All in all, I paid ~$11 for a 1000Y Bitcash code and this method worked flawlessly for me. I hope it does for you too. Happy listening!
submitted by xrzn to jpop [link] [comments]

Bitcoin Cash is not a scam. Clearing up the FUD.

Definition of a scam :
a dishonest scheme; a fraud.
First of all, let me start with off with this. No one wanted Bitcoin Cash to exist, no one wanted another Bitcoin subreddit to exist (/BTC).
This is how Bitcoin Cash was forked off & the reasons.
In 2015, the plan was made by the Bitcoin Core developers and the community supported it. This plan was to increase the blocksize. He said in 2015, 2MB now, 4MB in 2 years, 8MB in 4 years then re-assess.
The plan was very simple. Increase the blocksize, lower fees for everyone, more transactions possible. But this changed in 2015.
The Moderators of /Bitcoin, particularly theymos who not only controls /Bitcoin but also Bitcoin.org and BitcoinTalk.org, decided to censor pro-bigblocks supporters (which was technically everyone because no one knew of any other solution that would work right now). The effects were there. Bitcoin users left in 2017 as the fees rose too high, while the others remained hoping that a solution would be found or they shifted to BCH or other coins.
This led to BTC losing their market cap percentage and led to other altcoins to rise.
Core developers have said that Segwit and Lightning is going to solve the problem. Lightning was said in 2015 December to be released in 2016 1, 2.
Segwit is not a long term solution and will weaken Bitcoin's security. It allows more transactions but it is irreversible. You can't go back to non-Segwit after using SegWit.
Lightning is very centralized and complicated. It requires you to be online 24/7, have your private keys connected to the Internet and requires you to first do an on-chain transaction to open a channel.
To even get the community to believe that lightning and segwit is a solution, they had to censor the main channels (/Bitcoin, Bitcoin.org and BitcoinTalk.org)
OpenBazaar dev explains why they aren't adding Lightning
Bitcoin Cash is not BCash, B Cash, Bcash, Bitchcash, Bitcash, BTrash. It is Bitcoin Cash (BCH). This and this is Bcash, this is BTrash
BCH is not controlled by the 'Chinese' or 'Jihan'. A substantial amount of mining is done outside of China. The same can go for BTC, where BTC has got about 70% of their mining done in China.
BCH was not forked off by Roger Ver or Jihan Wu, they are only promoters, investors and people that create products for Bitcoin Cash. BCH was forked off by a group of miners including Amaury Sechet.
BCH is entitled to using the name bitcoin because it has the genesis block in it and because it is loyal to the original Satoshi whitepaper where bitcoin was first mentioned/coined.
BCH can definitely scale on-chain at least for sometime. Right now at 24 TPS. It can scale with bigger blocks. Centralization will not occur. Satoshi already mentioned that big servers with hashpower would be the ones mining while users will remain users. SPV is a solution for users, while miners will run a full node (copy of the blockchain and hashpower), while business, hobbyists, researchers and others can choose to run SPV or relay nodes (nodes that have the copy of the blockchain but do not have hashpower at all)
Roger Ver raging publicly or being a felony isn't an argument to say that BCH is controlled by him.
If you don't like BCH, it does not make it a scam. Just don't use it.
If you find Roger Ver or Calvin Ayre a controversial figure, that also does not make BCH a scam.
If you find Coinbase expressing their support towards BCH, that does not make it a scam.
If you know that there's a better coin in your opinion, that does not make it a scam.
Some resources/links :
https://np.reddit.com/Bitcoin/comments/31vi0t/theymos_friends_as_mods_here
https://np.reddit.com/Bitcoin/comments/41102k/if_theymos_truly_cares_about_bitcoins_success_he
https://np.reddit.com/Bitcoin/comments/3l36ck/guess_this_will_be_censored_but_theymos_opens_up
https://np.reddit.com/Bitcoin/comments/3h5f90/these_mods_need_to_be_changed_upvote_if_you_agree/
The story of /Bitcoin, /BTC, Bitcoin & Bitcoin Cash
A collection of evidence
Why some people call Bitcoin Cash Bcash
Lukejr mentioning slavery is moral - may sound irrelevant, but it's an example to show how crazy a developer is..
TL:DR : Bitcoin Cash is not a scam because no one is being robbed. It was forked off because Bitcoin's development was hijacked by Bitcoin Core. Fees were getting high and solutions that aren't out yet were being proposed, while a solution that's ready isn't proposed. If you don't like it, simply choose not to use it.
submitted by thepaip to talkcrypto [link] [comments]

Changing address (and other information)

I recently got an email about the case and it lists a previous address of mine. I'm hoping this is an unimportant detail; if everything continues to be done online and I have the same email. But is there an easy way to change information (like my address change?) I didn't have a substantial amount in Mt. Gox and have until now, emotion-wise anyways, dismissed it as a total loss. But as the price of Bitcoin skyrockets (again) and I opted to be compensated in crypto (I guess we'll be getting some Bitcash fork value as well! whoopee!) I'm beginning to think having the details right may be important after all. Trying to contact noandt.com and Japanese courts has been a headache (Is it easier to communicate with them in Japanese?)
submitted by cristobaldelicia to mtgoxinsolvency [link] [comments]

Noob here, have al lots of question about BIT CASH, please help.

Hi Everyone, I am completely new to this world, can you help me to understand BitCash
  1. Shall I stop mining the BITCOINS?
  2. How to mine BITCASH ? There are no article/help available on internet related to this.
Also where can I get legit news related to BITCOINS.
submitted by KrishnaPSY to BitcoinBeginners [link] [comments]

Bitcoin Cash: Day 4 SITREP

Half of these items are undeniable facts that can't really be argued, but the other half are subjective opinions of mine that will probably ruffle a few almost everyone's feathers.
You guys know me by now, though -- I don't pull my punches, and I'm not afraid of the inevitable hostile responses I receive in this wonderful sub every day. (I love you guys, really... Ok ok, it's more of a love-hate thing, I know... but still, you're my homies!)
So...without further delay, let's do this!
PROS:
CONS:
I'll see if I can come up with more later...
Regardless of all of the above, I do sincerely hope that the Bitcash teams eventually address most of these issues and this chain becomes moderately successful.
Why? Well, because why not? I now magically hodl a non-trivial amount that I've decided to keep...for now. Free money is undeniably cool, so it would be great to see this coin pumped up again someday.
The whole AXABlockstreamCore-is-Voldemort thing could also happen...so it's nice to have a backup plan?
Have at me! ;)
submitted by paleh0rse to btc [link] [comments]

The team needs your help!

So, in chatting with the devteam on twitter it seems like our next big obstacle is getting added to some more exchanges, so, I wrote a quick how-to guide on exactly that. I've managed to find an article that actually gives some good info on instructions/suggestions on how to do this. The best way, would likely just be by emailing the exchange, and I'll type up a quick suggestion as to what to say. However, feel free to change the message so it's not just looking like a bunch of copy-paste spam from bots or something. I've also added a chart of major exchanges along with their contact emails for easy copy-pasting into your emails.
 
 
Exchange Contact Email Twitter Facebook
Coinbase [email protected] @coinbase https://www.facebook.com/Coinbase
Kraken [email protected] @krakenfx https://www.facebook.com/KrakenFX
ShapeShift [email protected] @Shapeshift_io https://www.facebook.com/shapeshiftexchange
Binance N/A @Binance_2017 https://www.facebook.com/binanceexchange
Poloniex** N/A @Poloniex https://www.facebook.com/poloniex
Bithumb* [email protected] @BithumbOfficial https://www.facebook.com/bithumb/
Bitfenix* [email protected] @Bitfinex https://www.facebook.com/bitfinex1/
 
* = unable to find a proper email, so the one listed may be a media contact or something until we find the correct one.
** = Community cannot help here, listing requires the devteam to contact the exchange officially.
Below I'll include a brief demo of what we are trying to get across in the email, feel free to just copy and paste this but tweaking or writing your own is encouraged as we want the teams to actually read our messages, not just delete them as spam.
Hello,
I just thought I would write to you concerning a coin that you currently do not have listed on your exchange, TheHempCoin (THC). THC has been around for years, originally starting back in November of 2014, however, it only really started to take off this November thanks to the legalisation in California and the upcoming news from Canada and Mexico alike. In addition, over the past few months, the development team have been releasing quite a few updates and are currently looking at doing a rebrand along with a hardfork.
Unlike the rest of these so-called "Potcoins" the team here intend to target the agricultural market as a whole, not just limiting themselves to Marijuana and the associated industry meaning a far larger market. Currently the only place to trade this coin is on Bittrex but seeing that they are not accepting new members currently, there has been plenty of growth, however, there are also lots of people seeing this growth and wanting to buy in but being unable to, thanks to the exchange. Adding this coin to your exchange would likely boost your visitor count seeing that it would mean you would currently be the one-and-only place available to purchase THC.
In the past 2-3 months alone we have gone up about 1600% even with the decline in bitcoin, and we don't look to be stopping anytime soon. The devteam has confirmed that there will be a new website and whitepaper published very soon and all the links can be found on their twitter, which is where they are most active in the community. I will leave links to where you can contact the team below.
Lastly, I would like to thank you for taking the time to consider this proposal and I look forward to trading with you soon.
Official Website - http://www.hempcoin.org/ Twitter - https://twitter.com/thehempcoin/ Reddit - https://reddit.com/thehempcoin/ Facebook* - https://www.facebook.com/HempCoin/ Bitcointalk - https://bitcointalk.org/index.php?topic=506320.0/ Discord - https://discord.gg/5qJGbv9/ Coinlib page - https://coinlib.io/coin/THC/the+hempcoin/
* - a non-official social platform created by the community
Sincerly,
Sign your own name/handle here
This should hopefully help us get listed on a few more exchanges and hopefully allow some of those who want to purchase some THC and get into it, actually do so!
One big thing we want to keep in mind: In doing this, we don't want to come off as entitled or that we are owed something. We also want to keep any price targets or anything completely out of this as that is regarded as a huge negative. As I said above, feel free to type up your own message, mine is just here as inspiration per-say, but try to keep it professional, we don't want to annoy them, we just want it to be evident that we have a serious demand here.
Also, just a reminder, I'm not part of the devteam, I just believe in their product and I'm trying to get their message out there. We see about 1000-2000 visitors daily so I figured even if 10% of us send out these emails, we can easily see 150 people trying to contact the exchanges and hopefully soon we can see another get added!
Lastly, if you have any suggestions or would like to add to the list here, just leave a comment and I'll do my best to get back to you ASAP. Thanks!
Oh, one more thing. I know I gave u/no1CryptoWhale a hard time concerning posts about "shilling" I still believe that we need to be careful in this endeavour but I'm also willing to admit when I'm wrong, we evidently do need to pitch in and help the devs. However, we need to be wary of the language and terms we use as this is a delicate matter and even industry, as we can see with BTC this week...
-Zach
submitted by zacharyd3 to thehempcoin [link] [comments]

Theoretically, how much would it cost to reclaim the network and restore transaction services?

So there's a denial of service attack on the network right now, with bcash mining being more profitable thanks to this latest artificial pump.
I remember during the s2x debacle reading about a person with an expensive nvidia card saying they were profitable in mining btc by a combination of rising prices and lower competition (the chinese miners were again mining bitcash in order to make bitcoin's blocks seem small).
So I guess the question is, if the ASIC cats are away and tx numbers being way underserviced either way... Can a pool of 15000 rigs with a couple of expensive cards (vega 64's or 1080ti's) put a dent in the transaction backlog? Can it become marginally profitable to GPU mine bitcoin and help the network out at the same time? It wouldn't be a mining operation as much as an "enhanced node".
Does that make any sense? I'm using 15000 since it's the current active user count on the sub.
submitted by VLXS to Bitcoin [link] [comments]

History of Bitcoin: An analysis of where it's been, where it is, and where it's going.

What is Bitcoin? A brief history.
Okay. So we know that cryptocurrencies are non-state issued currencies that seek to maintain value through scarcity (usually), security (hopefully), and easy transferability regardless of national borders (indubitably).
Bitcoin does all of these things...but so do other cryptocurrencies. Why is Bitcoin special? Let's start with a bit of history.
Beginning in the 1980s, a group of developers and activists formed a list serve and named themselves the Cypherpunks. This group was obsessed with societal privacy and anonymity. They believed that only complete privacy and security could guarantee a free and open society and that the government could not be relied upon to ensure it. Members of the group sought different modes to achieve this goal. Among others:
Bram Cohen: BitTorrent -> Peer to Peer information sharing
Nick Szabo: Bit Gold -> predecessor of Bitcoin, originator of smart contracts
Julian Assange: WikiLeaks -> classified and secret document archive and disclosure
Another person (?) on this list was "Satoshi Nakamoto" who, in his seminal whitepaper in 2009, outlined Bitcoin. Note that "Satoshi Nakamoto" is in quotation marks because his or her or their true identity is thus far unconfirmed. Regardless, Nakamoto's whitepaper conceptualized Bitcoin and in the process created the idea of the blockchain and solved the double spending problem. The double spending problem was something that had plagued digital currencies since they were first proposed. The problem, characterized by a digital currency's lack of physical permanence and resultant ability to be copied, forged, or otherwise falsified, prevent digital currency from progressing past the point of "internet money".
Nakamoto managed to resolve double-spending this via implementation of the blockchain. Let me explain how:
Traditional transactions are pretty straightforward. Party A gives Party B some number of dollars. Party B accepts this money without concern because, the possibility of counterfeiting not withstanding, he is pretty sure that the dollars that he is receiving are legitimate. Since dollars are physical, they can only be spent in one place at a time.
Image 1
This works great when both parties are confident that the money being transacted can only be spent once as is the case with physical money. Digital money is intangible by its nature and therefore, double spending is a concern.
Say that Party A has BitCash A. He wants to purchase goods from Party B and Party C. The goods to be purchased EACH cost BitCash A. If Party A is honest, he will only purchase one of the goods since he can't afford both. Party A is a bad dude, though, and decides to try to pull a fast one on Party B and Party C. Since BitCash is just internet money, it's easily reproducible and requires only a quick copy and paste to dupe the system. Party A sends BitCash A to Party B as well as to Party C. Someone is loses money (likely the whole network since this is a fatal flaw in the currency and indicates underlying unreliability).
Image 2
For those of you wondering how credit cards and other digital systems alleviate this issue, they do it through a centralized ledger. In other words, a third party is needed to mediate transactions and to ensure that money only exists in one place at a time. While this works in the context of traditional banking, this system goes against the ethos of Bitcoin, which is predicated on decentralization, privacy, and anonymity. Additionally, the idea of trusting a third party to verify all transactions introduced a single point of potential failure, something that cryptocurrencies sought to avoid.
The above issue remained unsolved until Nakamoto's invention of Bitcoin. Nakamoto introduced the idea of the blockchain, a constantly updated decentralized universal ledger that existed everywhere and nowhere, that was maintained by multiple parties on the network, and that was permanently reliable. Each transaction had to be verified by multiple parties (known as miners) as being legitimate before becoming irreversibly codified in the universal ledger known as the blockchain. Should a party seek to double spend, one of the transactions put forth would be rejected: either the one that was placed second, or the one that received fewer confirmations from the network. By relying on a second party system, the double spending problem was solved.
Image 3
In the above case, Party A attempts to double spend his Bitcoin A to Party B and Party C. Both proposed transactions are sent to miners to verify. Only one of the two is accepted by the network and added to the blockchain. In this case, the Bitcoin A sent to Party B is confirmed as legitimate while the proposed transaction to Party C is rejected. Bitcoin A is NOT double spent. Party B ends up with Bitcoin A and Party C ends up with nothing.
With the double spending problem and others worked out, Bitcoin became a viable mode for transaction. The first official Bitcoin transaction occurred on January 12, 2009 between Nakamoto and Hal Finney. Bitcoin ceased to be theoretical and entered the real world. Exchanges began carrying Bitcoin and facilitating its transfer between people. Over the next several years Bitcoin's value grew from fractions of a cent to over $11000 (as of 12/3/17).
Image 4
Image 5
Image 6
In addition to its own growth, Bitcoin is also responsible for the rise of cryptocurrencies in general as the majority of cryptocurrencies today have used Bitcoin as their foundational model.
Image 7
Controversies
Bitcoin's ascent has been marred by several controversies both internal and external.
Advantages of Bitcoin over other cryptocurrencies
I've broken down the major advantages of Bitcoin as follows:
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Ubiquity/cachet: Ultimately, much of the advantage that Bitcoin possesses boils down to its place as the cryptocurrency leader. Odds are that when people say "cryptocurrency", they really mean Bitcoin. There's value to being at the top of the market and its position affords it a host of benefits. It has the largest user base of any of the cryptocurrencies which fuels its dollar value. Because it was first to market, and because of its users, it also has a robust development community working both internally and externally. One of the perks of investing in Bitcoin is the exposure that one gets to Bitcoin forks. Bitcoin Cash, a fork that occurred on August 1, 2017, is currently trading over $1600/coin. Every user of Bitcoin received Bitcoin Cash...just for holding Bitcoin. There have been other forks since, and there will continue to be forks in the future, all adding potential value to a Bitcoin investment. Furthermore, Bitcoin is relatively established and more robust to insults than other cryptocurrencies, making it a safer store of value.
In order to be unseated as the clear crypto king, a new product would need to show up that is not only qualitatively better than Bitcoin, but better enough that it makes ditching the Bitcoin environment worth it.
Technology: Bitcoin was the first cryptocurrency to reliably show that digital money could be used for transactions and as stores of value. As mentioned above, most cryptocurrencies today use the Bitcoin white paper as their model. We know that the foundations of Bitcoin are comparatively sound and that it is stable. This stability has allowed a healthy ecosystem of development to take root. Interested in buying a hardware wallet for your Bitcoin? They exist. More interested in creating a free online wallet? Those exist. Interested in mining? It's easy, albeit expensive to get started. The technology being proven has allowed the adjacent technologies to thrive.
Price: While most would consider an $11000 entry tag to be a massive barrier to entry and potentially stifling, it's actually a major boon to Bitcoin. The price tag attracts investors and users, which encourages development, which makes the product more functional, which attracts users, which increases price, etc. Bitcoin is worth something and makes it difficult to dismiss. Furthermore, its high price tempers volatility and manipulation. Unlike other currencies that are worth pennies or dollars, Bitcoin is able to weather large capital inflows and outflows and is less prone to overt market manipulation precisely because its market cap is so high.
Risks
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Internal
Technology: While Bitcoin functions completely adequately today, it will need to scale tremendously to reach its potential. While the technology behind Bitcoin is impressive, it pales in comparison to established modes of exchange. VISA averages 2000 transactions per second and has a peak capacity of 56000 transactions per second. Bitcoin presently averages 7 transactions per second. Certain solutions are being explored, like the Lightning Network, but there are no guarantees that there will be successful implementation.
As can be said with any technology, Bitcoin is fundamentally dependent on its underlying code. Thus far it has had only one major exposed flaw (which resulted in the accidental creation of 184 billion Bitcoin).
Development: Mentioned above was the advantage conveyed by forks. They can provide additional value. This is a good thing. They can also create competitors. This is a bad thing. While it is unlikely that a Bitcoin offshoot will unseat Bitcoin outright, there is the risk of market cannibalization and confusion with each new iteration. Which is the real Bitcoin?
External
Legislative: Because Bitcoin can so ably provide for functions that were once strictly in the government domain, it is likely to become the target of governmental limits at some point. We've already seen China try to crack down on Bitcoin and it's reasonable to assume that other countries will follow suit.
Despite this risk, however, Bitcoin has proven to be incredibly resilient and is still traded by the Chinese. Since the Chinese ban, Bitcoin's price has nearly doubled from $6000 to over $11000 today (12/3/17).
Competitive: I mentioned earlier that one of Bitcoin's main advantages was that it was first to market. While this is a tremendous benefit today, it does not guarantee ongoing success. History is littered with famous "firsts to market" that were overtaken by savvy competitors. The World was the first ISP to market. Magnavox released the first video game console. You'd be hard pressed to find someone that equates ISPs with The World or video game consoles with Magnavox.
Bitcoin is not on the precipice of being overtaken by another cryptocurrency. However, the risk of an existing competitor, or more likely a new competitor that doesn't yet exist, supplanting Bitcoin is always a possibility and investors should mitigate risk appropriately.
Investment opportunities: Bitcoin provides the surest cryptocurrency investment for the reasons mentioned above. Its status as the cryptocurrency leader makes it the most stable investment in the arena. Furthermore, its cachet makes it an attractive investment to lay investors looking for exposure to this particular market which subsequently makes it an even more attractive investment. While many may balk at investing in something whose single unit is priced at more than $11000 and that has experienced explosive growth, I believe that Bitcoin still has opportunity for upward movement.
The number I keep coming back to is $7.8T (trillion). That's the market cap for gold. I use this as a bench mark because I see Bitcoin supplanting gold as a storage of wealth from fiat currencies. As I've discussed, the blockchain provides permanence in a way that is akin to gold's physical permanence.
The present market cap for ALL cryptocurrencies is $340B (billion). Bitcoin presently accounts for 55% of the cryptocurrency market cap with $188B.
Assuming that over the next year growth slows over the next year and that Bitcoin loses some of its dominance, I still think that it's reasonable to project an approximate Bitcoin value of $50000. This assumes that the crypto market continues to grow, albeit at a slower relative pace and still does not approach gold's market cap.
Image 10
This is bullish and I assume that no major stumbling blocks present themselves. I am drawn to the fact that market penetration is still relatively low and that institutional money has barely begun to enter the market. These two factors mean that organic growth can continue for the foreseeable future.
Conclusion
Bitcoin represents the present pinnacle of the cryptocurrency market. As an investment, it provides the best combination of stability and potential growth precisely because it is the market leader. Through its innovation of the blockchain, it has spurred the cryptocurrency explosion that we have witnessed over the last several years.
submitted by TheCryptoDoc to BitcoinBeginners [link] [comments]

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submitted by Leonya9 to freebitcoin [link] [comments]

08-18 10:22 - 'Nice to see ripploff replaced at number 3.' (self.Bitcoin) by /u/flowbrother removed from /r/Bitcoin within 268-278min

'''
Can't say I'm a big fan of bitCash, but the great bankster ripploff has been wedged out of it's long held spot.
At least bitCash has got a blockchain. Centralized mining at this point, but nowhere near the centralized private database ripploff tries to sell as a 'blockchain.'
'''
Nice to see ripploff replaced at number 3.
Go1dfish undelete link
unreddit undelete link
Author: flowbrother
submitted by removalbot to removalbot [link] [comments]

08-19 11:02 - 'Who's mining BTH anyway?' (self.Bitcoin) by /u/StayPositive310 removed from /r/Bitcoin within 305-315min

'''
The price pump appears to be a result of everyone finally figuring out how to get their free BTH onto an exchange or from their exchanges and ergo the price pump and trading activity. Humans will trade just about anything so we're trading Bitcash. Just bc BTH is trading with such high volumes does not been there is anything behind it. And seems like only one unknown (sure) mining co is hashing BTH and that's problematic for all of the reasons why SegWit makes sense. Nonetheless I'm going to hodl both BTC and BTC et al. Don't think we need bigger blocks after August 20 though seems like overkill.
[link]1
'''
Who's mining BTH anyway?
Go1dfish undelete link
unreddit undelete link
Author: StayPositive310
1: th**erkle*c*m/*nknown*b**coin*ca***miners-co*tr*l-almos*-*7-of-th*-net*orks*hash*o**
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Question regarding BLITZ & BLTZ

So i used to mine altcoins in 2013, i found a wallet with Blitzcoin(BLTZ) on it, offcourse the wallet does not update because it seems dead since 2014. My question now is is Blitzcash(BLITZ) a continuation of BLTZ, like bitcash is a continuation of bitcoin? I was wondering since i would like to change them to BLITZ if its 'the same coin', or do i just own dust? Thanks in advance.
submitted by Pixelhouse18 to CryptoCurrency [link] [comments]

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