/biz/ - Business & Finance

ok i'm going to give you guys a tip, so listen up. some of you guys here are pretty smart. but most of you aren't. there's nothing wrong with not being smart. most people aren't. but maybe if you listen to me you'll make some money.

bitcoin cash is going to be the Amazon.com of crypto.
>what does this mean?
it means that they want to provide all the functionality that every competing crypto provides. it means that if they execute that no other cryptos will have value. vitalik buterin initially wanted to build Ethereum on top of bitcoin. it was only after that the bitcoin team told him to piss off that he decided to build ethereum. but smart contracts are totally possible on top of bitcoin cash, not bitcoin segwit. similarly, with extension blocks, privacy guarantees as strong if not stronger than what coins like monero provides is totally possible. you'll still retail blockchain auditability--the privacy will be optional. further, because its not a "privacy coin" per se, a government less easily can decide to outright outlaw it.
>but anon why won't bitcoin just do this?
bitcoin segwit literally can't due to its blocksize limitations. segwit itself also carries major problems. lightning network, which bitcoin segwit is staking its future on, is vulnerable to bank runs and is equivalent to fractional reserve banking. bitcoin segwit is also vulnerable to "altruistic selfish mining", which could lead to segwit transactions being stolen. the economics of this are downright scary.

ok i'm going to give you guys a tip, so listen up. some of you guys here are pretty smart. but most of you aren't. there's nothing wrong with not being smart. most people aren't. but maybe if you listen to me you'll make some money.

bitcoin cash is going to be the Amazon.com of crypto.
>what does this mean?
it means that they want to provide all the functionality that every competing crypto provides. it means that if they execute that no other cryptos will have value. vitalik buterin initially wanted to build Ethereum on top of bitcoin. it was only after that the bitcoin team told him to piss off that he decided to build ethereum. but smart contracts are totally possible on top of bitcoin cash, not bitcoin segwit. similarly, with extension blocks, privacy guarantees as strong if not stronger than what coins like monero provides is totally possible. you'll still retail blockchain auditability--the privacy will be optional. further, because its not a "privacy coin" per se, a government less easily can decide to outright outlaw it.
>but anon why won't bitcoin just do this?
bitcoin segwit literally can't due to its blocksize limitations. segwit itself also carries major problems. lightning network, which bitcoin segwit is staking its future on, is vulnerable to bank runs and is equivalent to fractional reserve banking. bitcoin segwit is also vulnerable to "altruistic selfish mining", which could lead to segwit transactions being stolen. the economics of this are downright scary.