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Bitcoin cash is a scam, so it's not surprising to see them list other scams. I hope that bitcoin goes back to a few hundred dollars in order to purge the market

Bitcoin cash is a scam, so it's not surprising to see them list other scams. I hope that bitcoin goes back to a few hundred dollars in order to purge the market of weak crypto-currencies.

BubRoss 7y ago
Most informed people would say that the scam is that the original Bitcoin was taken over so that its throughout could be stifled and the people controlling it could sell an awkward and unnecessary second layer. When one side says the other is a scam but goes to enormous lengths to stop technical discussions while saying that throughput below a 144p YouTube video is too much data, people should start to question whether they are being fed propaganda.
- gruez 7y ago
  >[...] while saying that throughput below a 144p YouTube video is too much data [...] That's a gross simplification of the issue. The problem with large block sizes isn't with bandwidth, it's with the storage requirements of running a full node, and the time it takes to bring up a full new node.
  - lawn 7y ago
    None of them are good arguments against a moderate blocksize increase, such as 2 MB or 4 MB. (Segwit is an extremely inefficient increase, which in practice only increases it from 1 MB to around 1.4 MB.) And none of these limits have been tested or examined by those who oppose it. The claim is, it seems, that the current limit is perfect. Or that hard forks are "too dangerous", despite coins like Ehereum, Monero and Bitcoin Cash proving that to be false again and again. And Bitcoin also had an emergency hard fork fix (which never split the chain) when they fixed the recent infinite inflation bug. Oh and they've had a hard fork once before too. Also with storage being so cheap it's not a valid argument. Time to propagate blocks between miners is the biggest, with initial sync coming in at a distant second.
  - BubRoss 7y ago
    The 'problems' keep changing. Most people don't need or want to run a full node or even sync with the whole chain. Even so, anyone with $100 can buy 1 TB of SSD space and anyone who can stream netflix has an internet connection 600 times faster than the max throughput, so none of that is even close to being a problem either. People say this stuff as some sort of FUD theoretical, but who out there is actually having problems with a reasonable computer or internet connection? A $35 raspberry pi is overkill, this is not a real problem.
spookthesunset 7y ago
Bitcoin cash is no more if a scam than “Bitcoin”. All crypto coins are scams. Or at least a transactional layer for higher level scams (which often have scams piled on top of those scams”) One delightful thing about cryptocurrency is everybody thinks their coin is the good one and all the others are “shitcoins”. With slightly more introspection, they might realize that their chosen coin is just as scammy as the rest.
- jraedisch 7y ago
  Pretty sure that Bitcoin is the one exception, simply by being first. Thus, it is the single most suited experiment to determine, whether a digital store of value is possible at all, (the argument being that if it cannot be a SoV or can easily be replaced, so can the next, thus none should be entrusted with significant savings).
- tuesdayrain 7y ago
  Your recent comment, but with the examples switched to crypto-related things, is an amusingly apt description of your post. >HN is getting full of people with some serious chips on their shoulder. Any article with the words "cryptocurrency", "Bitcoin", or "Ethereum" in it will be flooded with, to be blunt, a bunch of garbage posts. Not a good insightful, intellectual discussion. Just people with massive chips on their shoulders flooding the comments with noise.

Bitcoin cash is a scam, so it's not surprising to see them list other scams. I hope that bitcoin goes back to a few hundred dollars in order to purge the market of weak crypto-currencies.

BubRoss 7y ago

Most informed people would say that the scam is that the original Bitcoin was taken over so that its throughout could be stifled and the people controlling it could sell an awkward and unnecessary second layer. When one side says the other is a scam but goes to enormous lengths to stop technical discussions while saying that throughput below a 144p YouTube video is too much data, people should start to question whether they are being fed propaganda.

gruez 7y ago
>[...] while saying that throughput below a 144p YouTube video is too much data [...] That's a gross simplification of the issue. The problem with large block sizes isn't with bandwidth, it's with the storage requirements of running a full node, and the time it takes to bring up a full new node.
- lawn 7y ago
  None of them are good arguments against a moderate blocksize increase, such as 2 MB or 4 MB. (Segwit is an extremely inefficient increase, which in practice only increases it from 1 MB to around 1.4 MB.) And none of these limits have been tested or examined by those who oppose it. The claim is, it seems, that the current limit is perfect. Or that hard forks are "too dangerous", despite coins like Ehereum, Monero and Bitcoin Cash proving that to be false again and again. And Bitcoin also had an emergency hard fork fix (which never split the chain) when they fixed the recent infinite inflation bug. Oh and they've had a hard fork once before too. Also with storage being so cheap it's not a valid argument. Time to propagate blocks between miners is the biggest, with initial sync coming in at a distant second.
- BubRoss 7y ago
  The 'problems' keep changing. Most people don't need or want to run a full node or even sync with the whole chain. Even so, anyone with $100 can buy 1 TB of SSD space and anyone who can stream netflix has an internet connection 600 times faster than the max throughput, so none of that is even close to being a problem either. People say this stuff as some sort of FUD theoretical, but who out there is actually having problems with a reasonable computer or internet connection? A $35 raspberry pi is overkill, this is not a real problem.

spookthesunset 7y ago

Bitcoin cash is no more if a scam than “Bitcoin”. All crypto coins are scams. Or at least a transactional layer for higher level scams (which often have scams piled on top of those scams”) One delightful thing about cryptocurrency is everybody thinks their coin is the good one and all the others are “shitcoins”. With slightly more introspection, they might realize that their chosen coin is just as scammy as the rest.

jraedisch 7y ago
Pretty sure that Bitcoin is the one exception, simply by being first. Thus, it is the single most suited experiment to determine, whether a digital store of value is possible at all, (the argument being that if it cannot be a SoV or can easily be replaced, so can the next, thus none should be entrusted with significant savings).
tuesdayrain 7y ago
Your recent comment, but with the examples switched to crypto-related things, is an amusingly apt description of your post. >HN is getting full of people with some serious chips on their shoulder. Any article with the words "cryptocurrency", "Bitcoin", or "Ethereum" in it will be flooded with, to be blunt, a bunch of garbage posts. Not a good insightful, intellectual discussion. Just people with massive chips on their shoulders flooding the comments with noise.