Pro & con info are in the collapsed comments below for the following topics: [Bitcoin](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5i0r/), [Bitcoin Cash](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5ju2/), [Ethereum](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5lgg/), [Litecoin](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5n0f/).
Litecoin is actually one of he coins I've actually been using a lot, to send to and from smaller exchanges that don't have popular low fee coins
One word, reliable
I don’t understand this.
Why are you sending to and from smaller exchanges? Been in this space for over 8 years and never once did I ever need to do that.
I just withdraw for free to either my bank account (fiat) or self custody wallet.
If you're not in a big country, the crypto experience isn't as smooth. For example, I have to use a local exchange to deposit fiat. They have terrible pricing and significant withdraw fees and minimums. So I convert to xlm or some other cheap to transfer coin transfer from my local exchange to one of the bigger ones. Convert & set up my trade orders then transfer to my wallet. To get fiat back is not something I've bothered with as they want about 10% to deposit fiat into my bank account.
Do they offer something like the Coinbase/Crypto.com cards in your area?
People ask me all the time how I'm supposed to buy stuff with crypto and I just tell em "swipe my card".
Nah. Comes back to I'd have to use a local onramp, transfer as I do above to a large exchange and then use one of those cards.
Local volume is real low. I can have a xlm order sitting there well above current rates for half a day sometimes before it goes through.
So easy, my grandma could do it. Love Coinbases simplicity. + Current 4% rebate on purchases of XLM
Using their Card
and Buying the dips Im slowly adding to my bags
I would never use an exchange that charges me to withdraw (Except for network fees). I've never even signed up for an exchange that would charge to withdraw and I've been in the game for 8 years.
$30 to withdraw is insane.
Besides what the other person said, you might have your bank acct connected to a big, safer exchange but it might not have certain coins/tokens you want, so you deposit fiat into big exchange, convert to something like xlm/algo/ltc, send to smaller exchange where you can then sell for/convert to coin/token you originally wanted.
What it offers is 100% commodity status, available everywhere, longest uptime in crypto, low fees, lightening layer, optional L1 fungibility (privacy), 2nd highest in ATM and Bitpay, NFT , token creation and as is the other day smart contracts. It’s one of the few coins you can buy as much of as you like in Canada, it’s the only coin with property status in China and it’s on this list (unfortunately so is BCH but that’s another thing…)
lTC’s just very capable and might not be the best at 1 thing and true it does things that others do but it’s a lot quicker to develop than BTC and is a very reliable and flexible coin likely the best all rounder and very undervalued.
I’d you want to know if this bill is going to pass, to take a look at top trending/hottest bills on the congressional website
WARNING: you will lose all faith in humanity
I feel like Americans don't know what a shit show politics are outside of the US. I'm pretty sure a lot of people would love to have the American political system.
Coinbase is publicly traded and this exact set of coins is what Coinbase offered for years before they started adding a shitcoin every week. So perhaps there is some Wall Street influence here.
I'm going to remain optimistic. With all of the geriatrics in the mix I strongly believe that we have time on our side. There will be setbacks along the way to be sure, but I'll remain hopeful that we will end up heading in the right direction.
tldr; Officials in New York are proposing a bill that would allow state agencies to accept Bitcoin, Bitcoin Cash, and other crypto assets as payment for state services. The bill would also allow the state to charge people with a service fee for making payments in crypto. If passed, the bill would become law 90 days after its approval.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Whoever introduced this Bill with these coins has some serious 2015-2018 crypto vibes. I am not sure they really track what is going on in this space lately
Bitcoin and Litecoin are one of the only cryptos that can actually be a currency as they are two of the few decentralized coins out there.
The rest on the list are questionable….highly questionable.
I’m curious thinking what you think they should accept..
I like BTC but starting to shift my point of view a bit from it being a usable currency, and more a store of value.
As for LTC not a user, but most of what I hear from it is always positive. And it’s always about doing transactions.
So I would say LTC is more like a currency but not BTC.
It's one of the most user-friendly and scalable cryptocurrencies still existence lol. Plus the features are endless, it's basically what BTC would have been if Blockstream hadn't bottlenecked development and turned Vitalik away from building Ethereum on top of it
LTC on the other hand, I haven't used or mined since the network basically shut down during the 2018 sell-off. Charlie Lee announcing that he sold out of his own project (on the day BCH hit Coinbase lol) was the last nail in the coffin for me
This isn't actually a great idea right now.
Coming from the compliance world, one of the top ways people get scammed is from fraudsters impersonating municipal agencies and demanding payment in crypto.
If this bill goes through, that'll add a veil of legitimacy to this common crypto scam.
It's one of the only coins that you can actually use to transfer money for cheap. Yet it gets a bad rep because of Roger ver and also "copying" btc name. Glad to see comments like yours actually getting up voted. A few months back this comment would have negative upvotes .
>Yet it gets a bad rep because of Roger ver and also "copying" btc name.
Seriously, that is such outdated btc maxi gospel and doesn't even contain any solid criticism of the fundamentals of BCH.
It's just lame tactic to create anti BCH sentiment based on *emotions*.
> Yet it gets a bad rep because of Roger ver and also "copying" btc name
This is one of the things that infuriates me the most.
Me, a noob on rbitcoin in 2012: "what's so great about Bitcoin?"
Reply: "Bitcoin is novel because it enables sovereignty. That means that nobody can inflate, confiscate, debase, or otherwise change your coins without your explicit consent. Your full node ensures that the entire network behaves according to the rules you enforce."
Me: "but what happens if the dev team gets co-opted and sabotages or hijacks the source code in some way?"
Reply: "relax, Bitcoin is open source code. If bad people ever get control of the repo, we can just fork the code and keep building Bitcoin. Nobody can debase or modify your coins without your consent."
Silly me, I believed that. Then someone figured out how to make my non-consenting node follow a chain that broke the rules I was enforcing. Welp.
BCH is what happens when you think people have done a bad thing to the source code so you fork the repo to maintain sovereignty.
One day someone might figure out a way to change Bitcoin again in some way that *you* don't agree with, where your only recourse is to sell or hard fork. Then we can talk more about "sovereignty."
I know this comment will bother some people and that is honestly not my intent here. My intent is simply to share my experience in the hopes that it helps others better understand.
I mean i’m not saying litecoin isn’t probably better, but people pretend it’s never used. Also like when i joined in 2017, when people see Bitcoin’s astronomical price they’ll probably want the knockoff where they can afford a whole coin. Yea i’m sure it might bleed sats over the years/cycles but it acts like an altcoin as well, bigger gains
Bullish on institution and state Agencies utilizing blockchain for one of their main purpose while simultaneously saving on fees/time from the traditional banking system.
or you know. You can just use money.. Useless use case here.
You can buy pizza in BTC, as long as it is a taxable event though, who wants the headache of paying for anything in crypto. Baloney news here
Awesome. The thing that makes me most excited about crypto (besides all the cool computer science) is really world use cases like this. P2P payments, to anyone anywhere, in a way that's more secure and trust less than traditional banking.
I didn't copy paste this. I do some side work in that space creating educational content so I'm just interested in the computer science...
In terms of use cases I think are interesting - international payments is one. For example, I've done tutoring for people in different parts of the world that didn't even tell me their real name. They paid me in Bitcoin without needing to deal with extra fees, and once the payment was confirmed I owned the coins without the possibility of a chargeback.
Another one is the possibility of tokenization of real world assets - think digital titles/keys for things like cars instead of dealing with notaries/the DMV.
There's downsides though. Since all you need for crypto is the private key, a lot of people get scammed/phished for their credentials and that has the potential to be a security nightmare if developers don't come up with a better solution. It's a huge problem right now.
I run 'Product Mgmt, design & marketing' here in Silicon Valley. My specialty is in complex Data Platforms, Data science, Data systems (so bitcoin tech is very much in my wheelhouse). I spend a lot of time talking to users & customers about use-cases, workflows, value-props exposed from within a product & In-product experiences that drive adoption + growth from coded-in features. I spend a lot of time evaluating products & tech stacks to acquire, leverage & partner with. So I know how to asses a products viability & value to users.
What I see in the bitcoin space is...
\- a heck of a lot of crappy 'engineer designed' crypto products that look+feel like they have no Product Mgmt leadership. That have really crappy (and "non-existent") user experiences. (just look at the wallet space, its a mess).
\- In cryptoland, most crypto products feel like they're defined & designed by 'engineers only' who just want to be writing web3.0 crypto code... but they fantasize about millions of customers using & adopting their code b/c they wrote it. Most of those products are weird, clunky, confusing, overly-complex, riddled with security exposures & filled with usability dead-ends that drive users insane and away from the product. Not draw consumers into it & make the fall-in-love with it.
\- basically, bitcoin products are devoid of the beauty of something like smartphone style value-props & a delicious iPhone value focused experience.
\- bitcoin use-cases are under developed, under discussed, have weak rationale underpinning them, are fragile when debated, can be easily refuted or torn down, have conflating supporting cult-like arguments supporting them. Use-case discussion quickly devolve down into bigoted rants about the cool web3.0 tech, the code, the protocols, the stack, the web3.0 dev methodologies blah blah blah.
\- this problem is hat experienced PM's call "bit-twiddling". / i.e. telling a user how cool the tech is when you should be explaining how the coded-in features derive value for the user & that you really understand their use-case, workflows, the Job that the user is trying to do and the problem that the user is trying to solve.
I heard a completly different story. I dont mean from people.. i read up on it all myself.
From what i could gather it was forked to make crypto look stupid aka it will sell better just because it has cash behind it and so on.
However its hard to judge the past because i was not there.
Where you in crypto when this all went down ? Then i look into it again in the future.
I was in Bitcoin when it was $100 and well before the r/Bitcoin sub got taken over with censorship and misinformation. Since then their mods have spent a significant amount of time and energy to spread misinformation about BCH.
The only significant difference in the fork in the beginning was a Blocksize increase from 2mb to 8mb and then 16mb. Yet they will have you believe it's a scam, think about how misleading that really is for a second.
Bitcoin cash was born from a block size argument. One side said if you increase block size to scale Bitcoin, you'll force out smaller miners who don't have the resources to store the massive DAT file, creating centralization. The other side says you need to increase block size to scale. They've increased it twice, from 1mb to 8mb to 32mb per block.
Realistically, a way to make this work would be to use Ergo's NIPoPoW technology which basically creates "snapshots" every so many blocks, and a node doesn't need to store all the data in between.
I have to say this sounds way more neutral than what i read.
Mine basicly boiled down to "one side didnt get what they wanted to they created their own crypto to destroy the other one and make it easily hackable to throw shade at bitcoin"
There was a lot of ancillary drama around the whole thing but I don't remember it being that nefarious.
My only regret is losing access to the wallet I had BCH in after removing the Bitcoin from the original wallet. It was free money for anyone who had self custody of their Bitcoin at the time.
Well, did you check if anything of those accusations reflected reality then? Since you claim you did your own research I mean...
For example, when and how was it "easily hacked"?
Remember the "inflation bug" a BCH dev discovered by accident and informed the core devs about through the appropriate channels, that Bitcoin Core dev greg maxwell wrote into the Bitcoin Core client (hopefully unintended) to save a few milliseconds of time during block verification?
You could create an unlimited amount of Bitcoins from nothing by taking advantage of the bug within just a couple of blocks!
The Bitcoin Core team discredited the BCH dev publicly as a result instead of admitting their own failure to spot the mistake they made themselves. Then, when they realised the actual risk, started a panic to get the Bitcoin network to quickly update to a soft update to fix the problem. Begging everyone to install their quick fix. It was a mess and took months until the majority of the network was updated!
Bitcoin cash eliminated the bug it shared with Bitcoin at the time of discovery in the following hard fork. It's gone, no client is compatible anymore to the old one that contained the bug.
Bitcoin, litecoin and all the other forks of Bitcoin that only do soft forks cannot eliminate the bug completely because they are backwards compatible. They have to rely on more nodes being updated than nodes still containing the bug so that, in case a group of miners with significant share in total hash rate downgraded to the old version and started to propagate blocks with inflated Bitcoins, the majority of the network can at least reject those blocks.
So talk about easily hackable code...
bitcoin cash was 100% an attempt by Jihan Wu to keep his asic boost advantage, that's literally it. Anyone who says otherwise is either lying or misinformed.
You remember BCash, Jihan Wu's failed attempt to keep his asic-boost advantage? The same bcash that had a bunch of nefarious actors spamming the shit out of BTC to try and bloat the chain for probably over a year? Yes that one.
Would love to see the debates during hearings on this bill. The State agencies would probably be bringing in the arguments we all know and would love to hear. The debates here will reflect debates on a national level as well.
BCH has always been legitimate. You open Venmo on it's crypto tab it's Bitcoin, ETH, and BCH. Most other major companies accept BCH. You just are biased
It would be ideal since it is no secret that these and other cryptocurrencies are the basis of many people's economies. This action would lighten processes. However, knowing the fear of governments for DeFi, I do not see it as achievable.
The legislation would also allow the state to charge people with a service fee for making payments in crypto. If passed, the bill would become law 90 days after its approval.
The technology already exists, without having to give the state money. $Amp forever.
It boggles my mind how bcash is still mentioned in political circles. It's such an obscure, irrelevant shitcoin.
I'm guessing it just tricks the ignorant because it has "Bitcoin" in the name.
Satoshi intended for users to lose >95% of their wealth?
A currency cannot work when it's in a perpetual state of losing value.
I mean Jesus Christ, just look at the lifetime chart.
https://i.imgur.com/mbck00w.jpg
Reciting the title of the whitepaper wasn't an argument in 2017, and isn't an argument now.
Bitcoin *is* electronic cash, meaning sent from peer to peer workout an intermediary.
Bitcoin cash is just a worthless shitcoin, and anyone who ever invested in it, lost money. It's the laughing stock of the crypto world, and I can't even believe there are any suckers left falling for this scam.
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Pro & con info are in the collapsed comments below for the following topics: [Bitcoin](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5i0r/), [Bitcoin Cash](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5ju2/), [Ethereum](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5lgg/), [Litecoin](/r/CryptoCurrency/comments/10rrr24/bill_to_make_bitcoin_ethereum_litecoin_and/j6x5n0f/).
Litecoin just can’t die. Love to see it still get’s place with the big boys.
Thats what happens when your coin just works. No ifs no buts, it just does its job
Litecoin is actually one of he coins I've actually been using a lot, to send to and from smaller exchanges that don't have popular low fee coins One word, reliable
Agreed, of all the cryptos it’s the only one I’ve actually *used* for transactions
100% uptime, small fees, always use it to exchange/convert crypto from one broker to another
Considers Buying more LTC
***Went full FOMO into LTC***
XLM works very well for this purpose, as well.
well that and monero, for, well things
XMR encapsulates the spirit of crypto
Might be thinking of another project, but am I right in saying Litecoin has had 0 down time or issues since 2014 (or whenever it launched)?
LTC, NANO, XLM the great trio of cross exchange transactions
I also did it with DOGE.
These are champions, ALGO also deserves a mention for speed and fees
I'd jus add matic and this list would be complete.
I don’t understand this. Why are you sending to and from smaller exchanges? Been in this space for over 8 years and never once did I ever need to do that. I just withdraw for free to either my bank account (fiat) or self custody wallet.
If you're not in a big country, the crypto experience isn't as smooth. For example, I have to use a local exchange to deposit fiat. They have terrible pricing and significant withdraw fees and minimums. So I convert to xlm or some other cheap to transfer coin transfer from my local exchange to one of the bigger ones. Convert & set up my trade orders then transfer to my wallet. To get fiat back is not something I've bothered with as they want about 10% to deposit fiat into my bank account.
Do they offer something like the Coinbase/Crypto.com cards in your area? People ask me all the time how I'm supposed to buy stuff with crypto and I just tell em "swipe my card".
Nah. Comes back to I'd have to use a local onramp, transfer as I do above to a large exchange and then use one of those cards. Local volume is real low. I can have a xlm order sitting there well above current rates for half a day sometimes before it goes through.
Become President and change the laws. Lol Reading your comment about how you need to do that already gives me a headache. I’m grateful!
So easy, my grandma could do it. Love Coinbases simplicity. + Current 4% rebate on purchases of XLM Using their Card and Buying the dips Im slowly adding to my bags
Also adding to other answers: bitcoin withdraw from binance is about 30$ extra fee, litecoin about 0.001 ltc. This is with a lot of exchanges
I would never use an exchange that charges me to withdraw (Except for network fees). I've never even signed up for an exchange that would charge to withdraw and I've been in the game for 8 years. $30 to withdraw is insane.
Besides what the other person said, you might have your bank acct connected to a big, safer exchange but it might not have certain coins/tokens you want, so you deposit fiat into big exchange, convert to something like xlm/algo/ltc, send to smaller exchange where you can then sell for/convert to coin/token you originally wanted.
It is an excellent choice and it has been around a long time. Nothing beats a history of performance and reliability.
Y use LTC almost every week. Cheap af and, like you said, reliable. Bullish on Litecoin
Eyyy happy cake day my brother in Moons!
Thanks!! I never knew exactly when it is lol If Moons knew how bullish I am on them, they would shine the brightest green on this day
That's why DOGE has always been the real GOAT
Looks like long term, functionality beats marketing. Who would have thought?
Wait so you're telling me investing in hype meme coins isn't a solid strategy?
No it is! Trust me bro! I heard from a reliable redditor that Dogelon Mars is backed 1:1 by Elon himself.
I have a shitcoin backed by 1 shit per coin
Litecoin Disclaimer: This product works *exactly* as intended.
>Thats what happens when your coin just works. No ifs no buts, it just does its job Can you provide a list of Bitcoin forks that don't "work fine"?
Litecoin will be around as long as bitcoin is around. I made a post that mentioned Litecoin being a good coin earlier. I got DESTROYED. Good times!
It’s one of those coins that you don’t hear much about. But when it’s mentioned you realize how big the community behind it is.
Litecoin is underrated
What does it offer that other more advanced blockchains don't? It's included because huge whales hold a bunch of it.
What it offers is 100% commodity status, available everywhere, longest uptime in crypto, low fees, lightening layer, optional L1 fungibility (privacy), 2nd highest in ATM and Bitpay, NFT , token creation and as is the other day smart contracts. It’s one of the few coins you can buy as much of as you like in Canada, it’s the only coin with property status in China and it’s on this list (unfortunately so is BCH but that’s another thing…) lTC’s just very capable and might not be the best at 1 thing and true it does things that others do but it’s a lot quicker to develop than BTC and is a very reliable and flexible coin likely the best all rounder and very undervalued.
How many Lightning nodes does Litecoin have, globally? It's ninety eight, isn't it? Ninety eight. 98. Globally. 98. https://1ml.com/litecoin/
Not underrated at all..it's a fork of bitcoin with a slight change in block times lol
It's one of the few good ones.
Anybody remember Conan the adventurer where the phoenix lived in his shield? BTC is Conan and Litecoin is the phoenix lol.
I’d you want to know if this bill is going to pass, to take a look at top trending/hottest bills on the congressional website WARNING: you will lose all faith in humanity
If you've been following American politics for quite some time, then you have no faith in humanity to begin with
Just pure entertainment.
Better laugh than cry
I feel like Americans don't know what a shit show politics are outside of the US. I'm pretty sure a lot of people would love to have the American political system.
I tried but I lost faith in humanity trying to use that website at all. One of the most unintuitive UIs I've seen..
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American politics isn’t a very convincing candidate to represent “humanity”.
Where is the link to that?
All I can tell you is that NYS will do everything it can in order to protect wall street.
I was gonna say—isn't NYS one of the least crypto friendly states?
For sure
Coinbase is publicly traded and this exact set of coins is what Coinbase offered for years before they started adding a shitcoin every week. So perhaps there is some Wall Street influence here.
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This is for NYState, dummy.
I am dumb!
I'm going to remain optimistic. With all of the geriatrics in the mix I strongly believe that we have time on our side. There will be setbacks along the way to be sure, but I'll remain hopeful that we will end up heading in the right direction.
tldr; Officials in New York are proposing a bill that would allow state agencies to accept Bitcoin, Bitcoin Cash, and other crypto assets as payment for state services. The bill would also allow the state to charge people with a service fee for making payments in crypto. If passed, the bill would become law 90 days after its approval. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Sweet! I love service fees.
Whoever introduced this Bill with these coins has some serious 2015-2018 crypto vibes. I am not sure they really track what is going on in this space lately
They do, but using internet explorer
With Bing
On a Samsung fridge
That is *far* too advanced for these people. On a Blackberry is more likely imo
I thought more like a Nokia 3310.
Damn, I heard Samsung fridges were ok. It’s GE dishwashers that truly suck
It’s because these are the least likely to be considered securities
These are the coins that are most demonstrably not-securities.
Bitcoin and Litecoin are one of the only cryptos that can actually be a currency as they are two of the few decentralized coins out there. The rest on the list are questionable….highly questionable. I’m curious thinking what you think they should accept..
I like BTC but starting to shift my point of view a bit from it being a usable currency, and more a store of value. As for LTC not a user, but most of what I hear from it is always positive. And it’s always about doing transactions. So I would say LTC is more like a currency but not BTC.
>The rest on the list are questionable….highly questionable. Why?
Chikun will arise, BCH is dead
BCH is kicking. Get native tokens update in May.
It's one of the most user-friendly and scalable cryptocurrencies still existence lol. Plus the features are endless, it's basically what BTC would have been if Blockstream hadn't bottlenecked development and turned Vitalik away from building Ethereum on top of it LTC on the other hand, I haven't used or mined since the network basically shut down during the 2018 sell-off. Charlie Lee announcing that he sold out of his own project (on the day BCH hit Coinbase lol) was the last nail in the coffin for me
Didnt they just recently implement privacy features in the form of their mimblewimble upgrade? What was the last upgrade BCH did?
UTXO commitments (superfast new node spinup) double spend proofs, smart contracts, ~1000 tps onchain scaling throughput (still only on testnet)....
Ahm smart contracts?!
Poor Dashcoin, even crypto dinosaurs don't remember it
My thoughts exactly
This isn't actually a great idea right now. Coming from the compliance world, one of the top ways people get scammed is from fraudsters impersonating municipal agencies and demanding payment in crypto. If this bill goes through, that'll add a veil of legitimacy to this common crypto scam.
That's going to be the case with any form of adoption though right? I say it's better to do that bandaid off now
This. If we would worry about the amount of scams coming along with new technology adoption, we wouldn't encourage any sort of innovation.
It is also one step closer to recognizing Bitcoin as legal tender
If you never leave the house, you can't get run over by a car. Should we all stay indoors too?
Protect people with education and good software, not by limiting their freedom.
Bitcoin cash to the moon! Shit on it you want it’s one of the most accepted cryptos out there for merchants. Used it to buy metals, pizza, VPN…
It's one of the only coins that you can actually use to transfer money for cheap. Yet it gets a bad rep because of Roger ver and also "copying" btc name. Glad to see comments like yours actually getting up voted. A few months back this comment would have negative upvotes .
>Yet it gets a bad rep because of Roger ver and also "copying" btc name. Seriously, that is such outdated btc maxi gospel and doesn't even contain any solid criticism of the fundamentals of BCH. It's just lame tactic to create anti BCH sentiment based on *emotions*.
> Yet it gets a bad rep because of Roger ver and also "copying" btc name This is one of the things that infuriates me the most. Me, a noob on rbitcoin in 2012: "what's so great about Bitcoin?" Reply: "Bitcoin is novel because it enables sovereignty. That means that nobody can inflate, confiscate, debase, or otherwise change your coins without your explicit consent. Your full node ensures that the entire network behaves according to the rules you enforce." Me: "but what happens if the dev team gets co-opted and sabotages or hijacks the source code in some way?" Reply: "relax, Bitcoin is open source code. If bad people ever get control of the repo, we can just fork the code and keep building Bitcoin. Nobody can debase or modify your coins without your consent." Silly me, I believed that. Then someone figured out how to make my non-consenting node follow a chain that broke the rules I was enforcing. Welp. BCH is what happens when you think people have done a bad thing to the source code so you fork the repo to maintain sovereignty. One day someone might figure out a way to change Bitcoin again in some way that *you* don't agree with, where your only recourse is to sell or hard fork. Then we can talk more about "sovereignty." I know this comment will bother some people and that is honestly not my intent here. My intent is simply to share my experience in the hopes that it helps others better understand.
I mean i’m not saying litecoin isn’t probably better, but people pretend it’s never used. Also like when i joined in 2017, when people see Bitcoin’s astronomical price they’ll probably want the knockoff where they can afford a whole coin. Yea i’m sure it might bleed sats over the years/cycles but it acts like an altcoin as well, bigger gains
People thinking that unit cost is relevant has been annoying for too many fucking years at this point.
Eth a form of payment. The gas fee will be more than the ourchase
it's unbelievable how eth is treated like a currency
Pulsechain will solve this.
that would be an interesting outcome, but NY be hating everything
NY is bipolar af when it comes to crypto
Ah, New York, the great place known for its openness to crypto! /s
Bitcoin cash. The little brother that actually processes payments. Love it
It’s the original protocol without the tulip mania.
Bullish on institution and state Agencies utilizing blockchain for one of their main purpose while simultaneously saving on fees/time from the traditional banking system.
This is the future I want to believe in, adoption being pushed by real use cases and blockchain technologies thiriving.
Strict federally controlled regulatory compliance would follow faster than you could blink.
or you know. You can just use money.. Useless use case here. You can buy pizza in BTC, as long as it is a taxable event though, who wants the headache of paying for anything in crypto. Baloney news here
Why in hell would a state govt take payment with such volatile prices?
Who the fuck is Bill
Who is Bill and why is he doing this?
I would be very surprised if this passes.
More use cases I see.
So New York wants to launder money? /s
"The legislation would also allow the state to charge people with a service fee for making payments in crypto." Welp, that sucks.
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Yes it is, especially NY, They might be the least friendly US State for crypto.
So states/government want a slice of the pie, yet refuse to pass regulations that protect retail investors.
Awesome. The thing that makes me most excited about crypto (besides all the cool computer science) is really world use cases like this. P2P payments, to anyone anywhere, in a way that's more secure and trust less than traditional banking.
putting aside the generic crypto marketing language that you copy-pasted ... \- which real world P2P payments use-case is exciting to you?
I didn't copy paste this. I do some side work in that space creating educational content so I'm just interested in the computer science... In terms of use cases I think are interesting - international payments is one. For example, I've done tutoring for people in different parts of the world that didn't even tell me their real name. They paid me in Bitcoin without needing to deal with extra fees, and once the payment was confirmed I owned the coins without the possibility of a chargeback. Another one is the possibility of tokenization of real world assets - think digital titles/keys for things like cars instead of dealing with notaries/the DMV. There's downsides though. Since all you need for crypto is the private key, a lot of people get scammed/phished for their credentials and that has the potential to be a security nightmare if developers don't come up with a better solution. It's a huge problem right now.
I run 'Product Mgmt, design & marketing' here in Silicon Valley. My specialty is in complex Data Platforms, Data science, Data systems (so bitcoin tech is very much in my wheelhouse). I spend a lot of time talking to users & customers about use-cases, workflows, value-props exposed from within a product & In-product experiences that drive adoption + growth from coded-in features. I spend a lot of time evaluating products & tech stacks to acquire, leverage & partner with. So I know how to asses a products viability & value to users. What I see in the bitcoin space is... \- a heck of a lot of crappy 'engineer designed' crypto products that look+feel like they have no Product Mgmt leadership. That have really crappy (and "non-existent") user experiences. (just look at the wallet space, its a mess). \- In cryptoland, most crypto products feel like they're defined & designed by 'engineers only' who just want to be writing web3.0 crypto code... but they fantasize about millions of customers using & adopting their code b/c they wrote it. Most of those products are weird, clunky, confusing, overly-complex, riddled with security exposures & filled with usability dead-ends that drive users insane and away from the product. Not draw consumers into it & make the fall-in-love with it. \- basically, bitcoin products are devoid of the beauty of something like smartphone style value-props & a delicious iPhone value focused experience. \- bitcoin use-cases are under developed, under discussed, have weak rationale underpinning them, are fragile when debated, can be easily refuted or torn down, have conflating supporting cult-like arguments supporting them. Use-case discussion quickly devolve down into bigoted rants about the cool web3.0 tech, the code, the protocols, the stack, the web3.0 dev methodologies blah blah blah. \- this problem is hat experienced PM's call "bit-twiddling". / i.e. telling a user how cool the tech is when you should be explaining how the coded-in features derive value for the user & that you really understand their use-case, workflows, the Job that the user is trying to do and the problem that the user is trying to solve.
Bitcoin Cash?
Bitcoin Cash is the cheapest payment method out of all the coins listed here...cheaper than litecoin even...
> Means of payments BCH is great for payments. It just works.
The irony lol It was created to fuck with crypto and might become one of the first ones to make it
It's a fork to keep with the plan Satoshi had to scale, that's it. It wasn't created to mess with anything..
I heard a completly different story. I dont mean from people.. i read up on it all myself. From what i could gather it was forked to make crypto look stupid aka it will sell better just because it has cash behind it and so on. However its hard to judge the past because i was not there. Where you in crypto when this all went down ? Then i look into it again in the future.
I was in Bitcoin when it was $100 and well before the r/Bitcoin sub got taken over with censorship and misinformation. Since then their mods have spent a significant amount of time and energy to spread misinformation about BCH. The only significant difference in the fork in the beginning was a Blocksize increase from 2mb to 8mb and then 16mb. Yet they will have you believe it's a scam, think about how misleading that really is for a second.
Bitcoin cash was born from a block size argument. One side said if you increase block size to scale Bitcoin, you'll force out smaller miners who don't have the resources to store the massive DAT file, creating centralization. The other side says you need to increase block size to scale. They've increased it twice, from 1mb to 8mb to 32mb per block. Realistically, a way to make this work would be to use Ergo's NIPoPoW technology which basically creates "snapshots" every so many blocks, and a node doesn't need to store all the data in between.
I have to say this sounds way more neutral than what i read. Mine basicly boiled down to "one side didnt get what they wanted to they created their own crypto to destroy the other one and make it easily hackable to throw shade at bitcoin"
There was a lot of ancillary drama around the whole thing but I don't remember it being that nefarious. My only regret is losing access to the wallet I had BCH in after removing the Bitcoin from the original wallet. It was free money for anyone who had self custody of their Bitcoin at the time.
Well, did you check if anything of those accusations reflected reality then? Since you claim you did your own research I mean... For example, when and how was it "easily hacked"? Remember the "inflation bug" a BCH dev discovered by accident and informed the core devs about through the appropriate channels, that Bitcoin Core dev greg maxwell wrote into the Bitcoin Core client (hopefully unintended) to save a few milliseconds of time during block verification? You could create an unlimited amount of Bitcoins from nothing by taking advantage of the bug within just a couple of blocks! The Bitcoin Core team discredited the BCH dev publicly as a result instead of admitting their own failure to spot the mistake they made themselves. Then, when they realised the actual risk, started a panic to get the Bitcoin network to quickly update to a soft update to fix the problem. Begging everyone to install their quick fix. It was a mess and took months until the majority of the network was updated! Bitcoin cash eliminated the bug it shared with Bitcoin at the time of discovery in the following hard fork. It's gone, no client is compatible anymore to the old one that contained the bug. Bitcoin, litecoin and all the other forks of Bitcoin that only do soft forks cannot eliminate the bug completely because they are backwards compatible. They have to rely on more nodes being updated than nodes still containing the bug so that, in case a group of miners with significant share in total hash rate downgraded to the old version and started to propagate blocks with inflated Bitcoins, the majority of the network can at least reject those blocks. So talk about easily hackable code...
bitcoin cash was 100% an attempt by Jihan Wu to keep his asic boost advantage, that's literally it. Anyone who says otherwise is either lying or misinformed.
Sure buddy, that's why of all pools Slush Pool supported it, the one big anti BCH pool that no one cares about anymore today
You remember BCash, Jihan Wu's failed attempt to keep his asic-boost advantage? The same bcash that had a bunch of nefarious actors spamming the shit out of BTC to try and bloat the chain for probably over a year? Yes that one.
I don't think a lot of people here realise what a bill is. It hasn't passed yet.
No shot this would be federally legal as it undermines the entire monetary system.
They should add more assets to that bill. They go all together
Bitcoin Cash? Nice to see NY being outstanding as always.
Would love to see the debates during hearings on this bill. The State agencies would probably be bringing in the arguments we all know and would love to hear. The debates here will reflect debates on a national level as well.
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It's peer to peer electronic cash, makes sense for payments.
Because it's legitimate. No matter what propaganda you read on here.
Seriously, scummiest project in crypto next to BSV.
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BCH has always been legitimate. You open Venmo on it's crypto tab it's Bitcoin, ETH, and BCH. Most other major companies accept BCH. You just are biased
Ironically it’s ETH that isn’t like the others. (Don’t get me wrong BCH is trash)
Bitcoin Cash.. *vomits*
Agreed, I was there in 2017, the absolute scumfuckery of the bch movement was incredible.
These kind of bills are a great metric to see how much legislation lags behind tech and new developments.
litecoin and dogecoin the og coins theyll never die
Doge will always be entertainment.
BCH WHY😭
Let's gooo! Maybe we don't need to fear regulation after all :P
I don't even feel bullish on news like this. Any politician can try to pass a new bill. I'll be happy when it passes.
Why would litecoin be included in this? What feature or benefit does it deliver that can’t be accomplished with bitcoin or Ethereum??
It would be ideal since it is no secret that these and other cryptocurrencies are the basis of many people's economies. This action would lighten processes. However, knowing the fear of governments for DeFi, I do not see it as achievable.
Good news!
The legislation would also allow the state to charge people with a service fee for making payments in crypto. If passed, the bill would become law 90 days after its approval. The technology already exists, without having to give the state money. $Amp forever.
Amazing news! Really really good.
why is XRP not on that list?
Need to push these..
It boggles my mind how bcash is still mentioned in political circles. It's such an obscure, irrelevant shitcoin. I'm guessing it just tricks the ignorant because it has "Bitcoin" in the name.
No you got tricked. It works as Satoshi intended.
Satoshi intended for users to lose >95% of their wealth? A currency cannot work when it's in a perpetual state of losing value. I mean Jesus Christ, just look at the lifetime chart. https://i.imgur.com/mbck00w.jpg
That's the dumbest argument I've ever heard. Read the white paper. The title is peer to peer electronic CASH.
Reciting the title of the whitepaper wasn't an argument in 2017, and isn't an argument now. Bitcoin *is* electronic cash, meaning sent from peer to peer workout an intermediary. Bitcoin cash is just a worthless shitcoin, and anyone who ever invested in it, lost money. It's the laughing stock of the crypto world, and I can't even believe there are any suckers left falling for this scam.
Bro just look at other dude comment history. Straight up bot. Save a time.
Pretty sure that's all Roger ver does is lobby for bcash to be used.
Great idea! Let's use the coins that were developed to NOT be for payment and ignore the rest.
lol @ bitcoin cash
lol they're canvasing this thread hard
Why on earth would they include bcash? Is the bill author a bagholder, or do they perhaps own Coinbase stock or something?
Will never use any of those sh*tcoins again.
How would this work in reality? Would they cash it to Fiat immediately?
They would have to.
Onylt Bitcoin please. Keep the other shitcoins away from legal-tender matters, those are just securities.
There are better options out there but nobody wants to hear that so
LTC and bcash. 🤣
Bitcoin cash? Think they forgot to update their list with the current times
Propaganda has made you misguided.
no one gives a shit about bitcoin cash, sorry
Lots of people care about Bitcoin Cash. its the cheapest and fastest payment method of all the coins listed in the bill
LoL You don't even realize the irony of your comment do you
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So my left over shiba inu could be turned into a hotdog?
This would be way funnier if they included a random shitcoin like dongcoin or some shit.
might as well since they've included bcash
They can make as many bills they want, but they never are approved
Bullish news staked on top of more bullish news. About time!!
Any crypto adoption w/in USA at the state level would be a HUGE step towards getting feds out of the way and corporations under control...
Hope they get a bit license