What is Bitcoin Cash? Simply put, it’s a difference of opinion on how bitcoin should scale. Some people say there’s a war going, on but there’s no war. One side has used censorship, mass-banning, and corrupt behavior to misinform most new people in this space. Those of us who were here back in 2012 remember watching this play out. We were the ones screaming at the devs to increase Bitcoins capacity and make it more functional and innovative. They literally didn’t give a shit. And that’s what spawned Bitcoin Cash, Bitcoin Unlimited, BitcoinXT, and all the other attempts to bypass the Core development team. Here you can see the CEO of Coinbase meeting with them and walking away absolutely infuriated at their arrogance and unwillingness to work with anyone in the industry. Here you can see Satoshi Nakamoto‘s right-hand man stating that Bitcoin Cash fits the description of the bitcoin he was working on with the founder Satoshi himself. Here you can see the creator of Ethereum, Vitalik Buterin, stating that Bitcoin Cash is what bitcoin was supposed to be, and that it was Core who “forked” away from the original vision. Not BCH. For people who were passionate about Bitcoins intended social change to “bank the unbanked”, help the poorest escape government seizure of their money and take power away from those who control the money supply and start wars that kill innocent children (Core proponents actually mock that statement by the way), it was a nightmare living through those years. Watching Bitcoin become less and less relevant, because a handful of developers had a stranglehold on the repository. But there was a reason. And everyone eventually found out what it was. They had started a company. A Corporation. With investors. Investors in the hundreds of millions. And they had a plan: To funnel all of bitcoins transactions off chain and charge for them. So they could get filthy rich. Then we understood why they wouldn’t increase bitcoins capacity on-chain. The Core devs had been bought off by a Corporation. In fact they had become a Corporation themselves. And that’s when all hell broke loose. And that’s when the banning started. Literally thousands of members of the community we’re getting booted from the Reddit sub for raising concerns. Simply because they disagreed with a Corporation coming in and strangling on-chain scaling to force usership of their new off-chain solution (Lightning), for profit. Some prominent founding figures gave up on Bitcoin altogether, and the rest migrated to btc. Vitalik Buterin (creator of Ethereum) himself spoke out against it many times. There’s no war. There’s corruption. And then there’s a group of people who want Bitcoin to keep its transactions on the block chain where they belong. If you had told me in 2012 that Bitcoin would be a block chain with no fucking transactions on it because a corporation had come in and found a way to get filthy rich by rerouting them? I wouldn’t have believed you. But that’s what happened, and that’s why I support Bitcoin Cash now. Just like Satoshi Nakamoto‘s right-hand man, Vitalik Buterin, the CEO of Coinbase, the CEO of BitPay, Lamassu, Gemini, and every other major player in this industry right now.
Gregory Maxwell overstepped his bounds as lead bitcoin developer when he quite blatantly stated his personal agenda at the conclusion of the HK scaling
Since Bitcoin is an electronic cash, it isn't a generic database; the demand for cheap highly-replicated perpetual storage is unbounded, and Bitcoin cannot and will not satisfy that demand for non-ecash (non-Bitcoin) usage, and there is no shame in that. Fortunately, Bitcoin can interoperate with other systems that address other applications, and--with luck and hard work--the Bitcoin system can and will satisfy the world's demand for electronic cash. Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users through decentralization. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work--
Gregory Maxwell sees bitcoin as a money only system. To him, 0 confirm transactions should never be used. It is therefore a "settlement" system. Anything not related to cash he wants done with side chains. That is pretty convenient for him because his company is focused on those solutions. The problem is that bitcoin won't get large blocks, it won't have as many users if you continue down a development path that essentially mandates blockstream solutions. Finally, his solution is to make temporary patches to bitcoin "when the need arises" so the block size limit doesn't push too many users off. That is an interesting design paradigm that could lead to many problems. The final solution of a "flex cap" proposal is worthy of it's own discussion. Security is directly related to miners revenue. A flex cap guarantees that a miner cannot make maximum revenue. A large block size... a larger block size than what is necessary is a tool that miners can use to find the optimum revenue because of price elasticity. The demand for transactions can go up and down if the price changes enough, and the price changes depending on the supply of available blockspace and the current demand. finding the maximum revenue is difficult and the only possible way is for the market to find it. Flex cap solutions decrease the security potential of the network because they do not allow maximum revenue to miners. It's also possible that they guarantee fees go upwards the more users that use the system which guarantees that the userbase of bitcoin cannot see it's potential.
Lead developer quits bitcoin saying it 'has failed' By Jemima Kelly. 4 Min Read . LONDON (Reuters) - Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a ... Lead developer quits Bitcoin saying it ‘has failed’ Reuters January 16, 2016 9:50 AM Commerce. Image Credit: Reuters / David Gray. Automation and Jobs Read our latest special issue. Open Now ... Lead developer quits bitcoin saying it 'has failed' Read full article Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. Bitcoin slid by 10 per cent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was selling all his units of the cryptocurrency. Lead developer quits bitcoin saying ... Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed". Along with Gavin Andresen, who was chosen by bitcoin's elusive
Sia Lead Developer Talks About Cryptocurrency Mining
Decred Lead Developer Dave Collins talks about some of the problems in Bitcoin and how Decred solves them. This is just a snippet from EP.15 of Decred in Depth - a Decred Community podcast. Meet Andrei Terentiev - Lead Developer of Bitcoin.com as part of the Meet The Management series. Remember to subscribe to our Youtube channel and hit the bell "🔔" icon to get notifications: Bitcoin SV lead developer, Daniel Connolly, joins Bitstocks’ CTO, David Arakelian in the studio to discuss the February 2020 Genesis upgrade and unleashing Bitcoin for mass adoption. Sia lead developer David Vorick wrote a fantastic summary of how experiences over the last year developing an ASIC mining machine for Sia coin. Referenced in Video: The State of Cryptocurrency ... Cryptocurrency as a Reserve Currency! - with Lead Developer Michael Toutonghi - Pt 1 of 3 With the main net close to launching, Veruscoin.io Lead Developer, ...