Footage of user paying with Bitcoin Cash in our latest meetup! The place owner asked us to make it there again and we did! 🇻🇪✨ more updates soon from InstaBitcoin

submitted by /u/oscar_salas93 [link] [comments]

source https://www.reddit.com/r/btc/comments/f6jrx4/footage_of_user_paying_with_bitcoin_cash_in_our/

The Free Rider Problem (or, why I have a nice tree but still don't have a sidewalk)

submitted by /u/jessquit [link] [comments]

source https://www.reddit.com/r/btc/comments/f6hrbz/the_free_rider_problem_or_why_i_have_a_nice_tree/

Crypto newsfeed website

COINDELTA.TECH NEED YOUR SUPPORT! CREATETED MY MY NEW WEBSITE coindelta.tech which show all the lastest crypto Buzz from almost all the sources around the world check it out!

submitted by /u/reddotarae51
[link] [comments]

source https://www.reddit.com/r/btc/comments/f67yz6/crypto_newsfeed_website/

I want to die a sovereign man and not a slave to bankers

submitted by /u/HODL_CRYPTO [link] [comments]

In a post-apocalyptic world, a citadel castout may have just found his ticket back to civilization...

Disclaimer: I am not a writer. I just happened to get inspired and whip this together over the last 45 mins. Let me know what you think!

​

The sun hung low in the late afternoon sky and the cool wind carried a bite not felt since the end of spring. Chirstian looked down at his filthy, aching hands for a moment. He hated digging in the cold, and with dusk quickly approaching on a long September day with no notable finds, it was about time to throw in the towel.

Christian rose to his feet. He stood atop a spectacular 30 foot mountain of trash - part of a discarded mountain range that stretched for miles along the outer wall at the southeastern quadrant of citadel 117.

These hills used to be teeming with other diggers like himself, in search of treasures mistakenly (or purposefully) cast out by individuals inside the well guarded monstrosity that loomed before him. However, as the efficiencies afforded by low time preference proliferated inside these modern day marvels of human ingenuity, products became more reliable, citizens became more likely to repair and reuse, and regular dumps of waste became fewer and further between. What was formerly a bustling effort of thousands of non-hodlers rising and sinking like curious meerkats into the jagged, man-made landscape, was no more. A lack of citadel waste meant a lack of salvageable goods, and it was only a matter of time before bands of non-hodlers began migrating away from the wall to try their hand at hunting and gathering.

Defeated, Christian began navigating his way down the foul-smelling heap carefully. He’d spent the past few days on this particular mound and with the results he’d had (or lack thereof), it was likely time to relocate tomorrow morning. The idea of catching up with this morning’s recent decampment crossed his mind, but quickly vanished. They were long gone, his tracking skills were non-existent, and even if he DID catch up - his survival skills in the wild left plenty to be desired. He would only further encumber them.

“Ah… God damn it.” Glancing around, Christian realized his wandering mind had allowed him to stray from his forged path down to flat ground. How long had he been wandering? Looking back upwards, he couldn’t spot where he’d deviated. At this point he couldn’t be bothered. It would maybe be five more minutes of hurdling junk before hitting the trails below.

Swinging his leg over some crumpled metal, he gently eased himself over and tried to find the ground with his toes. That’s when he felt something sharp slide through the thin sole of his shoe like butter and begin to pierce his foot. Christian instinctively pulled back, but the sudden weight transfer caused him to lose his balance and begin to tumble. In a last ditch effort to minimize what was sure to be a painful fall, Christian pushed off the mound with his opposite foot and attempted to catapult himself towards a nearby broken couch.

It was a mildly successful effort. The landing resulted in a loud thud on some surprisingly firm cushions, and his shin bounced firmly off the underlying wood of the arm rest. Lying on his back, he drew his leg towards his abdomen and took a few deep breaths while rubbing what was sure to be a painful bruise. Christian looked up at the pile of aluminum and steel that earned him his new lumpy shin, and in the fleeting moments of sunlight, something caught his eye…

Hanging precariously from the edge of a small bedroom dresser was a distinct gold glint in the form of a necklace with a long medallion. Gold had largely lost its value in the wake of hyperbitcoinization throughout the 40’s and 50’s, but still retained some ornamental and industrial use cases. Perhaps he could barter with some of the remaining citadel leeches back at the camp. With his barter skills he could likely trade it with one of the remaining citadel leeches back at the camp. A small battery pack would give him enough juice to jump online for a little while to see what was new inside the walls. Living vicariously through citadel dwellers was one of the few joys in life left these days.

Christian pulled himself upwards and reached out, snatching the chain. He rotated it around to the clasp and squinted to see the engraving. 14 karat. Hmm, not bad - at least the day wasn’t a total waste at this point. Turning his attention to the other end of the chain, he noticed that it wasn’t a medallion, but instead a USB drive. As it was lifted slowly to his face, Christian’s pupils dilated as he read the white words printed on the front of the device:

OPENDIME

---> Bitcoin

Holy. Fucking. Shit.

… to be continued?

submitted by /u/benperrin117
[link] [comments]

Understand what's at stake + personal remarks on how I will handle the current situation as an oldtimer.

What makes crypto special?

• P2P transactions without intermediaries
• based on sound money principles
• permissionless to any participant in any possible role (dev, miner, user, investor, node operator, business).

A crypto with a built-in tax (no matter if it's called a "dev tax", a "miner tax" or an "investor tax") is against the principles formulated in the whitepaper.

Only users have to pay a fee in order to make use of their right to transact on-chain. Despite the users self-interest to pay a fee as low as possible there is also self-interest in generally paying a fee as it secures the network. This means their incentives are aligned.

Now I suppose that neither in 1913 nor in 2020 people are thinking about the (real) long term consequences of their actions. Some may question if such a thing as karma (action) exists or not. Still it's undeniable that actions have long term consequence resulting in responsibility today.

This is meant when we are talking about precedents (bending principles we signed up for), as well as tragedies of the commons (we didn't sign up for but likely ignored). More could be said about slippery slopes and degradation of values over time resulting in divide and rule schemes or why the road to hell is paved with good intentions (from good guys). Because people always forget that all three: intentions, people and successors change over time.

---

So I may be the first to ask this question: Who has thought about the long term consequences of this tax proposal*?

*Remarks: I know that funding devs is a hard problem we as community should tackle. Still I think it's a red herring (propaganda) to frame this tax around a thing we all can agree upon. Namely that development (caveat: NOT developers) need funding in order to develop and scale this project.

---

So fast forward [>>] : After installing this temporary tax (we all know it won't be temporary) what potential outcomes can be expected in the future when reward (inflation) tends against zero.

In this not to distant future fees have to pay for security of the network. Notice how BTC and BCH fundamentally disagree on how fees have to pay for security. But they both agree that fees will have to and also will be sufficient to pay for security. (Notice how Monero begs to disagree and uses tail emission instead).

In that future world what implications does a "mere" 5% tax have? Which incentives do the tax collectors in control have? But most important: Won't they be incentivized that the stream of funds will never stop even if rewards decline (like every other tax system in human history)?

Now what kind of methods can they use to leverage their influence over the network? And how easy is it to influence certain policies (from easy to hard):

• Keep or change beneficiaries
• Increase or decrease tax?
• Increase or decrease fees?
• Increase inflation aka 21M limit?

I am quite sure the list above is incomplete. My main take away is that by adjusting the effective tax rate after (and even before) rewards have gone to zero, "we" created a financial policy instrument that will be used to influence the economy built on top of Bitcoin (Cash) as well as control other (opposing) participants.

If an entity (let's call it "Fundstream") can leverage centralized control over the network AND use this for all kinds of monetary policy (e.g. alimenting the good developers aka the good guys and fighting against the bad guys, whoever they may be) a central bank like structure has successfully been established on top of Bitcoin. This is genius -or NOT!?

Fellow Bitcoiners. This is our personal Wilson Woodrow moment. Everything else is history.

---

Personal remarks:

I will immediately stop any activities that will lead to more adoption for BCH be it through new users or through investors. I can not recommend to invest in a project that is planing to introduce a tax on their investors. That's 100% against what Bitcoin stands for. I already started to talk to current investors and make them aware of the situation including the potential for complete divestment.

As someone who entered this market as an investor in 2011 and someone who manages quite a huge amount of BCH for others I will observe the situation closely and am already looking into best divestment strategies in the case Amaury gets his way.

A funding model based on voluntarism and accountability like it's perfectly working on Monero is the way forward and anybody denying that is either not interested in accountability or is more interested in attacking Bitcoin (Cash) right before it enters a new bull market and just before BTC's fee problems could wake up plenty of people. Monero proves and other oldtimers agree with me that funding is not the problem. UX and accountability is. I hope Flipstarter can help in this regard just like CCS helped Monero.

If this was about funding developers we would simply sit down. Evaluate what projects need to be funded in the next 3 or 6 months (looking at the roadmap) and come up with some numbers. But this is not about funding developers. This is about playing a power play to gain as much control over the Bitcoin protocol as possible in order to define monetary policies a decade or two down the road.

I wonder when we will call this an attack of one or two colluding miners who built a cartel with the devs of the reference client maxing out their current power (going all-in on control).

The BTC capture has been bad. You can like the propagated arguments for node decentralization or not. But in the end a fee market is still some kind of free market. The capture of the protocol we see in BCH is even worse. It introduces government and central bank like capabilities into BCH. And believe me - it won't be temporary. If anything it will kill the host like every government system does if you give it enough time as there never will be enough taxes for all the wonderful things we could fund.

Also notice how BTC produced a spill over effect into alts in early 2017 when it maxed out for the first time. The tax on BCH willl create another spill over effect as miners can enforce some rules but fortunately they don't have ultimate power. Capital controls won't work in BCH. Imagine what would happen if citizens were free to move their money in the light of the fact that a 5% tax is going be enforced on all investors in stock markets...

Without capital controls the money will simply leave! That's economics 101.

I fear for the long term prospects of BCH if economic illiterates take over once again just like they did when Amaury himself had to provide the code for a fork from BTC.

submitted by /u/gr8ful4
[link] [comments]

source https://www.reddit.com/r/btc/comments/f670m3/understand_whats_at_stake_personal_remarks_on_how/

Thanks to Calvin Ayre many BCH users have added 50%-100% of their BCH holdings (selling BSV, buying BCH). Overall this has made BCH more scarce since the BCH supply is still limited.

On the other hand Calvin is left holding BSV which is a coin based on the false premise that the original creator of Bitcoin would create a minority fork and not be able to sign any addresses. Which is a ridiculous joke/scam and really makes BSV the current Bitconnect.

We warned many people about Bitconnect but some people still bought it and lost it all when it went to $0. So dear friends of r/btc beware of BSV. It is built on a lie and will likely end in losses.

submitted by /u/frozen124
[link] [comments]

source https://www.reddit.com/r/btc/comments/f67bcq/thanks_to_calvin_ayre_many_bch_users_have_added/