/biz/ - Business & Finance

>>16952918
They're laughing, but it's the problem with all PoW networks. PoW is very centralized.

>>16952984

>>16952984
BCH is a shitcoin

>>16953004
https://cointelegraph.com/news/study-chinas-btc-miners-control-66-of-global-hash-rate

>>16952918
eth will win

>>16952918
https://medium.com/@jiangzhuoer/infrastructure-funding-plan-for-bitcoin-cash-131fdcd2412e

>Supported by:
>Jiang Zhuoer — BTC.Top
>Jihan Wu — Antpool, BTC.com
>Haipo Yang — ViaBTC
>Roger Ver — Bitcoin.com

"taxation is theft" roger ver is supporting this? oh boooy

>>16953004
>Bitcoin
>1h Attack Cost
>$823,964
You can use 50k per hour for buying bch or bsv and miners will abandon btc. Even one multimillionaire can kill btc and profit from shorting it. It can happen any time, say, in a month. Btc will implode and go to triple digits in a day. In this scenario, even most reputable exchanges will go bankrupt.
"Hodling and forgetting about it for x years" is gambling. Btc is very unsafe today, so is market as a whole.
Should I add that it is absolutely legal to kill btc this way, or bch, or bsv. You don't need to actually inject money on the market, you can invest in advertising and here you go: pow safety is a myth.
I am only warming up there is a lot of stuff being wrong with asic coins. It was implied that Nakamoto consensus works. It seems, it does not. Network effect will keep a new fork alive. If nakamoto consensus does not work, then there is no point in so much pow. pow is compromised

>>16953082
take your medicine faggot

>>16952918
getting info about BCH from twitter personalities is like getting info about Trump from twitter personalities, they seethe and lie about both nonstop

>*tries socialism*

>>16952918
talk about dictatorship, oh god...
i feel sorry for Ver..

>>16953059
>implying china is a single mining entity

I understand it now - it's a trial run for post-halving mining tax on btc.
It's going to be interesting.

>>16953082
holy shit you're actually retarded aren't you

>>16953170
>I understand it now
> it's a trial run for post-halving mining tax on btc.
It's going to be interesting.
>I understand it now

>>16952984
>>16953004
>>16953036
>>16953059
>>16953062
>>16953075
>>16953075
>>16953082
>>16953100
>>16953115
>>16953120
>>16953133
>>16953162
>>16953170
>>16953173
>>16953185

Well they have to innovate on the protocol level and needed a solution.
BSV has unlmited calvin funding and BTC doesn't innovate and has mastercardblockstream funding

This might give them an edge if it doesn't enrage their lolbertarian community too much

>>16953185
Considering bch is just a controlled opposition shitcoin, maybe.

>>16953082
Is this.... Cryptomedicated the midget? Sure sounds like it.

>>16953209
this will bring bch to zero. If this is not the easiest short in history right now i dont know what is.

>>16953209
>surely socialism will work this time

Even if this doesn't trigger a massive sell off it'll fail anyway. bch is fucking dead!

>>16953162
You know they all meet regularly, and that bch tax is enforced by dual btc/bch miners? The pow is the same.

>>16953209
>BTC doesn't innovate
>has mastercardblockstream funding
>This might give them an edge

>>16953276
ah yes, of course how could I forget

>>16953303
Is that sarcasm?
In simple terms: the same entities that control majority of hash power on bch control it on btc. They just split their miners according to profitability.
This makes it trivial to copy the solution to btc.

If it has bitcoin in its name and btc is not its ticker then stay away.

>>16953343
yeah bro okay thanks, just sold 100k
I think I'll use it to buy Ethereum - To the Moon!! :D

Yeah, but BSV will be different this time right guys? hahaha

>>16952918
cant believe 5% of my portfolio is this shit

>>16953364
>the exchanges tell me what to think

>>16953082
Jesus, people should pass an insanity test before posting on this board.

>>16953401
if miners did this on bsv I'd sell

>>16952918
hahahahahahahahahahhahahahhahahahahahhahahahahahahhahhhhhhhhhhahahhaahhaahahahahha

you can't make this shit up.

>>16953120
LOL

yeah i'm thinking i'm just going to go into PNK. Done with this p2p cash shit.

>>16953406
id suggest selling before it goes to zero, or has a contentious soft fork with miners not wanting to pay the tax.

God this will be a shitshow. Also no details on who controls the hong kong entity that will collect all the tax, and what they will do with it, who theyll finance, etc...
i knew bcash was pretty bad but this is the icing on the cake...

>>16953133

Hilarious

They are literally modeling their roadmap after the Chinese Communist Party

This cant go wrong at all, nope

>>16953062
Ironically. Vitalik, Sergey, Hal Finney were all part of the original Satoshi group.

>>16953560
what did they mean by this though?

>River philosophy:To cross the river by touching the stones.

fuck your mom if you want fuck

Everyone knew this was coming as soon as centralized checkpoints were implemented.
Sold all of my BCH for BSV over a year ago.

>>16952918

>>16953133
>feel sorry for Ver
>>16953075
>supported by ver

Will we have yet another fork of BCH?
They are literally suiciding their own coin with 3 shots in the back of the head.

>>16953715
they would have to change PoW

>>16953845
A fork without sha256 would never catch on, see bitcoin gold, diamond, etc..

>>16953926
maybe but this is enforced by sha256 miners 51% attacking, so there's no other way.

>>16952984
>>16953036
>>16953075
>>16953226
>>16953516
Miners giveth, and miners taketh away. It is not possible for this to work if the majority of miners don't agree. That is how Bitcoin decision making is supposed to work. Not sneaky blockstream forcing through decisions while everyone is confused. This is a shining light of real Bitcoin decision making, the first real unified one. The miners decision to support BCH over BSV in the hashwar is one other which has been taken, but it wasn't at this level of creativity.
This is fantastic for real Bitcoin BCH, I think we will see some incredible development soon as the most useful money.
And if the right development isn't happening to pump the bags, then, miners will wield their power again, and endow a different entity to make winning changes happen.

>>16954349
Small blocker cope

>>16953075
Roger Ver is amoral. Fuck him

>>16953082
>I will buy 5,000 asic miners all at once and their price won't go up a cent

Retards literally think this

>>16953075
>"taxation is theft" roger ver is supporting this? oh boooy

Segwit patched something called asicboost that was pattented by china miners to mine blocks with an advantage.

This is why all the shills attack segwit , segwit may have saved bitcoin & ltc from being taken by miners.

They are on craig's side, bsv will rise

>>16952918
Holy shit so many red pills on this thread. Makes me wanna buy a bag seriously

HAHHAHAHAHAHHAAHAHAHAHAHAHHAHAHAHAH

I’ll kill myself in a livestream for all of biz. BCH is all I have..

Im just sad you guys told me link was a scam and treated me like a Reddit bro after being here when CSW was crashing into slumber and ya dun goofed... those were fine times.

>>16955037
>>16955046
I legit thought BCH was the future too. Great dev teams, consistent progress on tech and huge adoption. This looks like a disaster for BCH.

>>16955069
Buying the Nembutal and enough CBD to keep from panicking or anything after the injection.

See you, space cowboy..

>>16955081
How the fuck did you get nembutal? Goddamnit I wanna check out too

>>16952984
retard, if the miners form a cartel then yes it's centralized if not and hashrate is distributed enough it's decentralized. that simple.

>>16952918
>Be Jihan
>Take back the company from beta bro
>Hold off on latest asic miners until post halvening
>Miners get rekt
>Prioritize new chad asics to the cartel
>Cartel blows out cuck-Calvin and the BTC Maxi's assholes
>Flippening begins
>ABC gets bags. BCH Gang bags pump.
>Life is good
>I for one, welcome our new big-dicked chinese overlords!

ITT: BSVtards don't understand taxation.
This shit is voluntary, goes with the hard fork in May. If you don't like it - don't mine it.

>>16955935
can someone explain to me how will a tax on miners help bch stay alive especially after halving when it's profitability inevitably trends to zero as with every pow? a tax just turns miner profitability to negative.

>>16955969
lol except miners make more money on btc than on bch from transactions by a few thousand times. that's kind of a bummer for the sv narrative.

>>16955972
wanted to write bsv but both works. small blocks = more money for miners.

>>16955972
>>16955976

«In a few decades when the reward gets too small, the transaction fee will become the main compensation for [mining] nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume.»
—Satoshi Nakamoto

>>16955972

>>16955976
small blocks = ponzi

>>16955969
This and only this.

>>16955998
i guess he was better at coding than predicting the future. just like me or 99.9999% of the devs around the globe.

>>16956015
your little double top scam pump is not gonna last your profitability and hash will be gone very soon.
what will remain is a few thousand usd reward in fees for miners on btc. that's pretty constant.

>>16956017
you are retarded sorry. small blocks give an economic incentive to mind the burden you impose on everyone and also helps to keep dirt off chain and also helps miners stay alive and be predictably profitable as subsidy declines.

>>16956027
>BTC still bearish
>cap on throughout
>halvening
>more pressure to earn more from network utility instead of subsidy
>coretards think this is sustainable

Satoshi was a shit coder btw. He had just the right amount of knowledge of law, economics and code to create Bitcoin. No code monkey created Bitcoin.

>>16956041
i'm just pointing out the evidence does not support big blocks being more profitable for miners or supporting them better than small blocks. it's right there out in the open. just look at the fucking data!
for some reason blockspace in practically unbound blocks has little to no value.

>>16956041
>Satoshi was a shit coder btw.
are you retarded? i have seen the work of shit coders not even pajeets just shit. satoshi was evidently an accomplished and prolific c++ coder.

>>16954794
These Chinese miners are on Craig’s side?

>>16955962
Crickets...lmao. There is no explanation anon,

>>16953133
>the upcoming bull market in 2020-2021/22
What do they know?

>>16956296
the halving is a fundamental event and quiet predictable
>>16956282
yeah...

>>16952918
YES!!!! BCH HOLDERS NOWS YOUR CHANCE join BSV and together we can flip BTC, we also support larger blocks just as satoshi intended! The Blockstream Kike worshipping CORE cucks are laughing at you, join us and they will be seething!!! As BSV moons another 200% in a single day!!

>>16952918
>>16952984
>>16953209
>>16954349
>>16955915
Blockchain by design will exponentially increase in size and cost. This leads to centralization or massive costs, while slowing performance. BSV is the only one with an actual plan, but the sacrifice for centralization isn't true to my understanding of cryptographically secure money. The only cryptocurrencies that fit the definition as I understand it, are Bitcoin core, which can not scale without a third party centralizing the protocol somewhat via additional channels/layers, or unironically, Nano.

>>16952918
>how is this shitcoin not at zero yet
The price is artificial, there's no liquidity so chinese are able to set the price via wash trading vast amounts on chink exchanges. They overwhelmingly control the majority of BCH supply so they know no one can dump on them. Their plan seems to be to try and hold it in the top 5 until the next bull market where they hope to exit scam at over $1000.

>>16955069
>>16955929
>>16955962
They are making the world's best peer to peer electronic cash. Once the whole world commerce is running on BCH (not fake weather data and video files like BSV but real commercial product on BCH) then miners will make mega-bucks from the micro transaction fees.
But only if the digital cash functionality is the best in the world, which means funding development.
BCH is the only coin with a realistic plan to conquer this monster usecase of global money. The original usecase of Bitcoin, as written in white paper.
32 mb blocks gets us beyond PayPal transaction levels, and then, to sainthood

>>16956063
He really wasn't the best. He got a lot of help on the code. Big blocks are the only way the Bitcoin system works. Massively profitable for miners. Just need the transaction volume which is building higher everyday.

>>16956463
>fake weather data

Maybe BSV isn't that bad after all. What the fuck are they even thinking? BCH devs just want to get rich, they don't care about the project. Throw them out for fucks sake.
>complain about blockstream
>create something worse
This shitcoin just lost all its credibility.

Not possible in the case of 0xbtc btw, but most of you prefer marketing trash talk than real trustless option

>>16957012
They are just doing what BSV is doing: Miners paying for development
Only difference is that in BSV miners = Calvin

imagine unironically holding BCH lmao

>>16953209
BSV doesn't have any funding
the only thing they are developing is a hard fork to steal the old P2SH coins and do a massive dump

>>16955969
BSV mines at a loss, loser

>>16954731
>Segwit patched something called asicboost that was pattented by china miners to mine blocks with an advantage.
Wrong.gif

ASICBoost was patent-applied-for by a couple of Yurapeons back in 2013. They sold the application to Terrasoft, which was a company that was going to make mining rigs, Then MtGox happened, the crypto market dropped dead for three years, and Terrasoft went out of business.

Jihan filed an APPLICATION in China for ASICBoost. It wasn't an approved application. He never got a patent. He was just smearing more FUD about it while also trying to steal the IP in case anyone else noticed the Yurapeons' 2013 patent application.

Notably, he came up with a variation called COVERT ASICBoost, which managed to hide its operations. It depended on the transaction malleability that SegWit was going to end. That's why Jihan went on his multi-year FUD crusade to stop SegWit.

Then someone disassembled the firmware on one of Jihan's mining rigs and said "what the fuck does this code do?" and realized Jihan was scamming everyone. That's when the BTC community rose up in justified wrath and told the miners "We UASF now."

>>16955069
>I legit thought BCH was the future too. Great dev teams, consistent progress on tech and huge adoption.
Seriously? WTF were you smoking? BCH has been dying since Jihan first said he was going to take his toys and fork off.

>>16957154
>some miner might be mining in a smarter more profitable way
>lets cap the throughput and cripple our project eternally
HA! that'll show them xD

>>16957154
>Then someone disassembled the firmware on one of Jihan's mining rigs and said "what the fuck does this code do?" and realized Jihan was scamming everyone.
source please

>>16957128

>>16956015

>>16957167
https://www.coindesk.com/bitcoins-new-controversy-asicboost-allegations-explained

Just do a search for "asicboost" from around March 2017 to August 2017. You'll find plenty of information about how Jihan was disabling the "boost" in the rigs he sold to customers, using it only internally at Bitmain to steal as much Bitcoin for himself as possible, and even had a backdoor killswitch in the firmware that he could use to shut down any mining rigs that he didn't control.

>>16953133
>non-debate theory
>just be a dictator lmao

The absolute state of BCH faggotry

>>16957944
It's being discussed and worked out in public.
Bitcoin is cash and must evolve to better serve that role.

"Taxation is Theft" - Wecx / Roger Ver

Roger Vermin cool with this new tax.

Javier González González thinks this is Miner Empowerment and complies with Nakamoto Consensus.

Vin Bozo is cool with it too.

Gotta keep the ball licking going on, free money for technocrat devgenerates income.

Bitcoin ABC (Second Blockstream Takeover) and Emperor Armory must be happy.

>>16953082
lol somebody liked that. thanks
>>16953100
listen here idiot, i have 70 iq alright? if network effect is above nakamoto consensus, transacting large sums of money on any of these three networks will be absolutely unsafe. that is a fact, deal with it.
before, we had noname asic tokens, today we have forks with meaningful network effect that will always keep em alive. and today we are not at discovering the potential, we are at competition. safe ceiling for price of btc, bch, or bsv is now roughly 3 times lower than it could be,
safe ceiling for the value of transaction is also like 3 times lower. it's a fact. why? because this system is TRUSTLESS you idiot.
Nakamoto consensus is horseshit. Miners don't choose, they just mine what is profitable. All 3 chains will keep their network effect even after several reorgs. All 3 chains will survive.
By holding these you are playing with broken fundamentals and crowd psychology, which is so easily shaped by the media. You never know if two weeks later all national tv will scream that it is an exposed scam. Degenerate fucking gambler

>>16957990
one french faggot to cuck them all

>>16953062
eth will die along with bch bsv xrp nano etcera

>>16952918

>>16953603
Step on whoever you have to to get where you want to go?

>>16954519
>I will buy 5000 iphones at once and their price wont go up
>I will buy 5000 desktops at once and their price wont go up
>I will buy 5000 ipads at once and their price wont go up
>I will buy 5000 tv's at once and their price wont go up
>I will buy 5000 asic miners at once and their price wont go up

Theres nothing unreasonable about any of these statements especially when buying in bulk. You should probably learn supply and demand laws sweetie.

>>16956017
You have it the wrong way round.

Who cares, its still profitable to mine.
Also im not a miner.

>>16952918
b-cash cash cash

>>16958770
Once the tax hits, its going to 100usd, where bsv was.

Imagine if paycheck dabek do the same for SAFEX scam

>>16958814
Wait is this a tax on miners or people holding?
If its on people holding ill sell right now.

>>16958939
Its miners only

>>16952918
bch and bsv were a mistake

>>16959014

>BTC and BCH were a mistake

FTFY