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> Bitcoin: Digital gold Huh, I remember it being "Peer-to-Peer Electronic Cash". https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf

LeoPanthera 9y ago
The current high transaction fees mean it’s not so great as an actual currency anymore.
- QML 9y ago
  Hence, Bitcoin Cash -- maybe instead of "Bitcoin clone", the article should say "Digital cash".
jashmenn 9y ago
I would love for it to become digital cash, but the transaction fees are much higher than cash at the moment.
- lostsock 9y ago
  Cash "fees" are $0, I just hand you a note. Nothing is every going to be that cheap. If you're talking about credit card fees, which are generally a fixed rate + a % (Stripes fees are 2.9% + 30c) then it's a hell of a lot cheaper for everything but the smallest of transactions. You can currently get a transaction confirmed in the next block for around US $0.60 based on an average transaction size of 250 bytes and 30 satoshi / byte. With that $0.60 fee you can transfer everything from tens to millions of dollars. If the transaction isn't as important or you can wait more than ~10 minutes you can get it even cheaper.
ericb 9y ago
Bitcoin cash deserves the moniker "Peer-to-Peer Electronic Cash." Core's roadmap ceded that claim. Sadly, being "digital gold" is a huge mistake because a store of value that is also a currency is a dominating strategy in this game. Lightning is "18 months away" which is exactly the sort of estimate I hear at work when something will take 4-6 years, or be shelved without getting released.
- solotronics 9y ago
  there are lightning implementations on the test net currently
- lawlessone 9y ago
  >Bitcoin cash deserves the moniker "Peer-to-Peer Electronic Cash." I think Litecoin deserves it far more, bcash was a cynical pump and dump.
  - ericb 9y ago
    I don't think so. Bitcoin cash is not being dumped by miners--they are in it for the long haul. Litecoin is a me-too copy, bitcoin cash is people with different values working on a different vision. Here's an interview with the lead dev. Doesn't sound like he's going anywhere. https://www.youtube.com/watch?v=By0w43NQdiY https://www.youtube.com/watch?v=By0w43NQdiY
anonymous5133 9y ago
bitcoin is going to be digital gold and bitcoin CASH is going to be the P2P cash system. Both can coexist with each other.

LeoPanthera 9y ago

The current high transaction fees mean it’s not so great as an actual currency anymore.

QML 9y ago
Hence, Bitcoin Cash -- maybe instead of "Bitcoin clone", the article should say "Digital cash".

jashmenn 9y ago

I would love for it to become digital cash, but the transaction fees are much higher than cash at the moment.

lostsock 9y ago
Cash "fees" are $0, I just hand you a note. Nothing is every going to be that cheap. If you're talking about credit card fees, which are generally a fixed rate + a % (Stripes fees are 2.9% + 30c) then it's a hell of a lot cheaper for everything but the smallest of transactions. You can currently get a transaction confirmed in the next block for around US $0.60 based on an average transaction size of 250 bytes and 30 satoshi / byte. With that $0.60 fee you can transfer everything from tens to millions of dollars. If the transaction isn't as important or you can wait more than ~10 minutes you can get it even cheaper.

ericb 9y ago

Bitcoin cash deserves the moniker "Peer-to-Peer Electronic Cash." Core's roadmap ceded that claim. Sadly, being "digital gold" is a huge mistake because a store of value that is also a currency is a dominating strategy in this game. Lightning is "18 months away" which is exactly the sort of estimate I hear at work when something will take 4-6 years, or be shelved without getting released.

solotronics 9y ago
there are lightning implementations on the test net currently
lawlessone 9y ago
>Bitcoin cash deserves the moniker "Peer-to-Peer Electronic Cash." I think Litecoin deserves it far more, bcash was a cynical pump and dump.
- ericb 9y ago
  I don't think so. Bitcoin cash is not being dumped by miners--they are in it for the long haul. Litecoin is a me-too copy, bitcoin cash is people with different values working on a different vision. Here's an interview with the lead dev. Doesn't sound like he's going anywhere. https://www.youtube.com/watch?v=By0w43NQdiY https://www.youtube.com/watch?v=By0w43NQdiY

anonymous5133 9y ago

bitcoin is going to be digital gold and bitcoin CASH is going to be the P2P cash system. Both can coexist with each other.