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TiffanyHayden

XRP doesn’t give me an ulcer

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16 minutes ago, TiffanyHayden said:

Because it’s the real Bitcoin. 

An analogy (not a great one, but it’s all I can think of):

Pretend we live in a world that does not know of cake or cookies. A chef comes along and brings the world cake for the first time. He doesn’t want the instant fame that will come with the recipe, so he hands it off to a group that promises to maintain the recipe and make sure the world has free access to it. They keep the recipe posted online. Anybody is free to modify the recipe offline and make different versions of cake, but it’s complicated and there have been rumors of food poisoning when others have tried. 

The only problem with the cake recipe is that it doesn’t scale. Restaurants and bakeries are unable to take advantage of the cake recipe. 

But there is a company called Tollhouse that has been working with the chefs who maintain the cake recipe. They’ve been making adjustments to the recipe here and there. And they’ve figured out how to scale the recipe. 

The new, scaled recipe now contains all of the ingredients to make what we know as cookies. But they’re still calling it cake!  

Some of us know damn well that it’s not cake. 

BitcoinCash would be the original cake recipe (same ingredients), quadrupled.

I'm not a fan of anything that happened in the scaling debate.

IMO, following your analogy, the people who actually are eating cake, instead of using the baked goods to smear it all over their face because 'blockchain', were perfectly happy with the amount of cake being produced and the price of the cake.

But, that all being said, Bitcoin doesn't feel like a product. It's a network of people all agreeing to the same thing. That thing can change.. Whether cookies or cake I think it's more the network agreeing to eat something resulting in what Bitcoin is. A consensus of people agreeing to transact.

Satoshi didn't envision any of the BIPs, but they were still implemented and are still a part of Bitcoin. I think the underlying question here is why do you think segwit was so poisonous as to make it not Bitcoin anymore? Especially given that no one is using it.

Edited by JonHolmquist

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1 hour ago, TiffanyHayden said:

For those smart enough not to bother with Bitcoin and Ethereum, let me just tell you that it’s a mess out there right now. It’s the uncertainty and lack of control that make it terrifying. (I’m actually team #BitcoinCash, so “a bad guy” to most.) 

This is why I’ve always been fine with Ripple owning a large percentage of XRP. It’s a unified group working toward comman goals. 

That is all. 

ICYMI: https://techcrunch.com/2017/11/07/a-major-vulnerability-has-frozen-hundreds-of-millions-of-dollars-of-ethereum/

Yeah, @pucksterpete is right... this is a 10/10:  :viannen_89: Nicely said, @TiffanyHayden

That being said.... I will also say that I don't like the idea of any investor losing money.  I hope investors can recover their original investment at least! 

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5 minutes ago, JonHolmquist said:

IMO, following your analogy, the people who actually are eating cake,

That would be me. I’m unbanked and have used Bitcoin regularly for years. It became completely unaffordable for me. The average txn fee was $10 the other day.

The narrative changed when Tollhouse showed up (Blockstream). “Be your own bank” was replaced with “digital gold” and 2nd layer solutions. 

Edited by TiffanyHayden

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It will be interesting to see what happens with Bitcoin Cash.  Roger Ver is one of the people backing it, and he tends to polarize if anything.  (I think he's a very impressive individual)

 

Edited by Hodor

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Just now, TiffanyHayden said:

That would be me. I’m unbanked and have used Bitcoin regularly for years. It became complicated unaffordable for me. The average txn fee was $10 the other day.

The narrative changed when Tollhouse showed up (Blockstream). “Be your own bank” was replaced with “digital gold” and 2nd layer solutions. 

I'm not a Blockstream troll here, but Bitcoin as a mainstream way to make payments just never happened.

People tried for years, people (very much including me) recruited every merchant under the sun, yet all of those merchants saw next to zero BTC transactions come in.

Almost every single Bitcoin business that relied on consumer payments has either pivoted or shut down.

That was not a fee issue. It is pretty simple, consumers already have a method of paying for things online, and that method works well. Nothing Bitcoin can offer beats it, sadly.

I also have used Bitcoin regularly for years as a consumer. I actually just stopped paying for games on steam with Bitcoin. I linked my credit card instead. 

It is so absolutely ridiculously much easier and better. It felt like I had been clued into a massive secret 174 million adult Americans already knew.

Bitcoin's primary purpose at this point, and before the fees started to rise, is as an investment vehicle against the USD.

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10 minutes ago, Hodor said:

It will be interesting to see what happens with Bitcoin Cash.  Roger Ver is one of the people backing it, and he tends to polarize if anything.  (I think he's a very impressive individual)

 

One person really shouldn’t matter.

The CEO of SBI has also said that Bitcoin Cash is the real Bitcoin and plans to build a mining facility.

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Guest

The primary reason I (and probably many other new people) have invested in BTC is because we believe it could end up being a universal store of value protected from the actions of poor choices made by the US government (and countless other governments).

A ton of new money has flowed into BTC recently, and there is probably a decent number of people who are not aware of the possible implications with the fork.

If things go awry (as in the price of BTC collapses to almost 0), I think it will have repercussions for the entire industry.

When most people are asked about cryptocurrency, they think Bitcoin.  At least that is how I was until someone at work told me there were thousands of choices.

Edited by Guest

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Guest

Oh my... there is no such thing as the original Bitcoin. Satoshi abandoned the project.

Technology is developed/extended by the smartest guys - clearly Bitcoin Core. If the market does not like their version, the market can chose another version. I am surprised that anyone would think the developers 'associated' with Cash or Segwit2x can implement anything of significance.

With regard to crypto stability the following is an interesting short read. I found the liquidity discussion of interest, in the event of the next reset... will Bitcoin holders buy more Bitcoin if there is more available... or will they panic and sell. The key here is, is there utility in the crypto token at that time. Hard to tell.

http://www.zerohedge.com/news/2017-11-07/how-will-bitcoin-react-financial-crisis-2008

 

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5 minutes ago, Max Entropy said:

Oh my... there is no such thing as the original Bitcoin. Satoshi abandoned the project.

Technology is developed/extended by the smartest guys - clearly Bitcoin Core. If the market does not like their version, the market can chose another version. I am surprised that anyone would think the developers 'associated' with Cash or Segwit2x can implement anything of significance.

With regard to crypto stability the following is an interesting short read. I found the liquidity discussion of interest, in the event of the next reset... will Bitcoin holders buy more Bitcoin if there is more available... or will they panic and sell. The key here is, is there utility in the crypto token at that time. Hard to tell.

http://www.zerohedge.com/news/2017-11-07/how-will-bitcoin-react-financial-crisis-2008

 

Bitcoin Core has been abandoned by both Bitcoin Cash and Segwit2x. Core will become an alt soon that you can cheerlead for. 

Bitcoin is the dominant chain as measured by PoW.

Edited by TiffanyHayden

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I hate these damn forks. I find it ironic that these forks come out every couple of months preventing any Alt Coins from gaining any traction. I know that there is alot of underground politics going on that I surely don't understand yet. However, I really think they are going to play this hard fork, soft fork game to prevent any strong growth from any Alt Coins. It's a bunch of BS if you ask me, but what are we suppose to do BTC controls everything as of now. 

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