This week in Bitcoin- 8-4-2017- BTC Segwit, Bcash, Africa cryptocurrency news


Hello everyone this is Adam meister the
bitcoinmeister the disrupt meister welcome to this week in bitcoin today is
August the 4th 2017 this is home of original cryptocurrency news I am really
proud to have the best guest in the space on this very show that comes on
every Friday and today we have some awesome guests from all around the world
we have an soul winner we have Lorien Gama off in South Africa and we have
Sampson mal who is coming this week from Vancouver I think but Victoria Victoria
British Columbia so we can find you in Asia sometimes too so Sampson has never
been on the show before and it is just a privilege and an honor
everyone knows who this dude is if you know about cryptocurrency if and you
know about Bitcoin you see him on Twitter you know about core block stream
all that stuff so give yourself up I can’t give you a proper introduction so
tell us what your what you do how you describe yourself and what’s going on so
I’m the chief strategy officer at block stream I’m in charge of product as well
we’re building out liquid and in my spare time I also make hats and talk
about Bitcoin oh dude and what hats do you I mean you make
some glorious glorious news out there and I want to talk about segregated
witnessed music you’re an expert in such matters and this month we’re graduating
so we’re gonna experience new levels new accomplishments getting us closer to
segregated witness so give us the timeline for this month in terms of
segregated witness this is a sheet this is the news we should be focusing on I
think so take it away with a segregated witness rant of some sort well
segregated witness is mainly a bug-fix that we’ve been fighting over for
probably a year and a half now it enables a lot of interesting things like
smart contracts like network and it helps Bitcoin scale it
gives us bigger blocks up to a maximum size of 4 megabytes under certain
conditions and it looks like it’s going to activate pip 148 helps to push things
along it got up 91 going all the miners were signalling and it looks like it’s
going to lock in on August 8th and activate now August 8 and after two-week
period then we should have it live on network well this I this August 8 bait
is something that people should get really excited about now after that is
are there any other dates which is people love to obsess over Tate in this
space is there is there and not any other date that you know of specifically
relating the segment that’s big I think it’s August 8th is Lakhan and then
August 20 late 21st is the activation ok so we are really close to August 8th
we’re really close to August 21st and we don’t hear people talking about it yet
because people have been distracted by something else but we’re gonna talk
about the distraction a second when when it’s the beginning of September when all
this actually comes through do you think there is going to be a focus on this and
what do you have any price thoughts around these events I think would say
quit active we should see a large bull run with the light coin we saw the same
thing the price is going you know multiples up and bitcoin is not going to
move as quickly but I think it’s possible to see 6000 before the end of
the year maybe wow wow I wasn’t expecting to even give a number that’s
pretty cool man tell that like button if you like when Adam gets shocked like
that and live viewers thanks for being here today this is this is gonna be a
lot of fun let’s go to ansel real quick Samson just said a lot whatever what do
you think about a Segway and the happening that what’s about to happen
with it in this month it’s the start of a new era right like
it’s gonna enable so many new things new layer two applications obviously
lightning Network but now we can get down to business and well we block
stream and all the core developers all over the world can get down to business
making these new things new products for us on on Bitcoin I’m really excited to
see side chains like drive chain RSK that kind of stuff I’m also really
excited for tumble bit that’s coming shortly that’s an anonymous thing I
think they’re in beta or something like that
min will Wimble – there’s all these different things that are coming to
Bitcoin and Segway was this big hurdle this big challenge that we had to get
over and now we got it well I wanna one thing I forgot to ask Samson I’m gonna
follow up with him shortly with this question I’m about to ask you is is this
the fat final nail in the coffin for these big blockers and some of the bad
actors that are that are in this space do you think this is gonna once this we
get to August 8th and August 9th is it is it gonna overshadow some of the fear
and fadh that’s being thrown out there by certain players what do you think
about that ansel well I think over the last two years Bitcoin as a community
Bitcoin as a network has become much more resilient to the social attacks
social engineering the FUD that’s been going around and so yeah I think a lot
of the big blockers the big names the ones that give the new efforts clout
like Andreessen or their jihong whoo or whoever
they’ve kind of lost a little bit of their clout in space so the next big
thud is gonna take a while to build up we have to get some new face out there
that’s ready to push this because people aren’t gonna listen to the same people
over and over again okay I like that a line of thought November there’s going
to be the segue to X are people just going to forget about the
it’s the bigger blocks or are they going to try something in November is that for
missile yes um it’s gonna be very similar to what we
just live through they’re gonna do the same fun again but like I said we’re
more immune to it as a community so I really don’t I don’t see it happening
plus we’re gonna see over the next couple months a lot of this the
narrative of if you want big blocks go to be cash so that that’s gonna be out
there so yeah I think it’s gonna be about like we just lived through if be
cash survives so do you have a do you have a price any price thoughts Sampson
threw a big price out there what do you get you you don’t have to throw the
price or anything I just want to get over the next couple weeks I think we
can be all-time highs maybe you know thirty five hundred in the next few
weeks and then we’ll go from there once say what activates who knows I mean it’s
gonna be a whole new network then yeah so long-term thinkers yeah only for
short-term thinkers don’t do anything foolish you only have to wait till the
end of the month to see what’s going on here we’re gonna be everything is gonna
be different by the end of this month with segwayed out there so Lorien we
just said a lot of stuff a lot of stuff tell me what you what you want to expand
upon there with with segments in current situation sure so there was great
explanation of say good I’m not gonna talk about the dates and all that sort
of thing but I want to go to ensel’s point about resilience you know when
when when ethereum went through its drama and splits and everyone thought
that was the end of that and you know after all these months you know we’ve
been seeing how it’s the things are just been lingering on in the world in the
end and somehow these communities and speculators and developers and whoever
is invested in all these different technologies they just seem to things
just seem to go on and for so long we’ve been waiting for Sigrid on or at least
some sort of scaling upgrade on Bitcoin and we’ve been through this not just
this rollercoaster in price but this roller coaster and emotions and I think
it’s not so much resilience anymore but maybe emotional you know we were mostly
drained and we become numb and you know at the end of it all when you finally
are getting segment to be locked in and you can finally see the business Road to
the to compromise of 2x you know suddenly Bitcoin cash it comes out out
of nowhere and gives us a verbal and mantis in the spot now we’re sacred now
has been it’s almost been completely ruined I mean I’m ruined in terms of the
fact that’s going through but just the topic now is no longer about finally
implementing sacred and finally getting on with our lives but now suddenly we
have this whole new other thing to think about in fact our worst fears have come
true and you know I’ve been always an outspoken Bitcoin maximalist man when I
say to people that I’m a Bitcoin Maximizer you know that actually sounds
weird not because I you know I I actually do think Bitcoin cash is
Bitcoin you know I know that to be cash you know it would be best to try and
make people less confused about what we’ve got going on here and if somebody
comes to me and says I won’t buy a Bitcoin nowadays I have to say well
which one so you know it’s very confusing but it also has just taken us
over the edge it’s made our worst fears come true
and here we suddenly have two chains that are seeming both resilient I mean
but when cash is alive and it’s completely flipped my whole thinking
around things you know it’s almost gone back to that idea of hang on Oh quite of
this decentralized technology is that there is no single thing that just
persists throughout you know you can’t please all the people all the time and
natural forces will mean that some people decide to fork off and make their
own things we’ve seen there without points but now we’ve seen that it can
happen – good point – and it’s now not a case of ideology or
anything like that it’s actually a case of market forces we were going to win
because they are the better technology not because they had consensus they had
the majority of people interested in that specific one but now what is just
natural selection how which is going to be the technology that wins is it this
big block or is it the segregated witness with all these second layer
technologies so now I’m you know I’m very interested
in both actually and you know I think coinbase although make huge mistakes in
saying that they would not going to support VidCon cash and setting
themselves up for the sly ability now that liquid cash is value and you know
common law and all that sort of thing you know I think coin basis is a unless
they they fold and they do allow people to pull it Bitcoin cash on soon enough
they’re going to stop people from having us crazy planet getting dumping their
Bitcoin cash out of sight and then six months a year goes by and so only
Bitcoin cash is still around and something is $500 $600
hang on you know look at ether EDC it’s still around and he was still trading it
and if there’s a community around it so you know it’s very important for us to
be very careful here we don’t know how the market is going to play out and I
think that we’re still calling it D cash might possibly we don’t know this you
know might possibly put us on the wrong side of history as we you know served
against that one but he knows what’s going to win it’s anybody’s guess so now
and we got a different view from South Africa found that like button if you’re
one of those people that say Adam only puts people who only on the ergo agree
with him because clearly Lauren and I don’t agree exactly on this matter
Samson’s got a lot to say I am sure and by the way I want to thank 21 million
out there a great a guy he’s got his own channel he put me in touch with Sampson
he interviewed Sanson before I did he is awesome check out 21 million club
Sampson you have some replies I’m sure to say to what Laurieann just said okay
so I want to go back to ensel so if you were saying like what will unlock things
like side chains we actually can do them now already so liquid is ready in beta
it’s just not commercial because we’re not ready to operate it commercially yet
but you can actually do them that without set without segue and it’s
important to point out because block stream is often maligned as wanting
segue so that we can do things like side chains or we call them strong
Federation’s as well but going to the other points I think be cash and be coin
the Bitcoin name is confusing I’ve seen a lot of
people already they seem to thought they bought Bitcoin but they actually bought
Bitcoin cash there’s articles talking about Bitcoin cash is death and people
just read it as Bitcoin is dying so there is a certain level market
confusion so I see why why if there is a group pushing for the name be cash
because it it simplifies things it makes it easier for the average user or buyer
to really understand what it is exactly because it’s not exactly Bitcoin it’s a
different rule set and anytime you change the consensus rules you’re
basically making a new coin or a new chain just like like Bitcoin right
litecoin changes the hashing I’ll go changes block x and cap of coins it’s
similar with what be cash is trying to do about the point about being on the
wrong side of history so you’re saying that naming it be cash is putting us on
the wrong side of history should we know that we should call it I’m saying being
in a way not to rob the tree but almost saying look this is the one that we have
decided is not the true thing whatever that is you know what what I think is
that we are gonna yes of course the rules have changed and I agree with you
that’s true so that technically means that if we were looking at the the set
of technology that made up quit point call as the in Bitcoin and then we have
Bitcoin cash yes of course that’s gonna change and so now we look at those two
entities and well as one is different but have you ever heard of that’s the
analogy or the story of you know the question how long has that apps mean in
your family you know an analogy where basically there’s this axe in the family
and then you know after after years of you Sonny that the axe head wears down
and then you you replace the axon but now you still back the axe you know blue
Zeus or the shaft and then years go by and then the shaft wears down so you get
a new shaft and now you replace the shaft so in effect what you’ve done is
you replace the entire axe did you still have the apps it’s almost like your body
when you’re a kid you don’t have any cells that you did when you were little
you’re completely different I mean you’re still Samsung but you’re not made
of the same stuff so here we have Bitcoin as being an ideological thing
where we’d say this is the the one that we are going to rally around as our
universal currency while universal story value its roots don’t really met it but
it’s the one that we’ve all chosen and I think that you know it might even be as
simple as saying wherever the majority the hash power is which means that’s
where the majority of the adoption is that becomes the one I don’t know maybe
I’m thinking too much about that so using the axe example I think it’s more
like you have an accent it’s not worn down it’s perfect and then let’s say the
axe is called called loriann right and then Adam comes in and brings a new axe
and says this axe is now Lorien well that’s I think that’s more it’s more
true to what we’re seeing right now so it’s not like they’re calling it el cash
they’re calling it Lorient and that is kind of confusing like it’s now Lorien
cash and it’s it’s more about keeping its identity separate I don’t think it’s
derogatory really it’s just clarity more than anything else no you’re right
actually it’s wrong for me to say that it’s nog think maybe just the tone of
people who are very committed to call you know I’ve seen just a so much you
know it’s it’s it’s kind of it’s a black animosity you know it’s you know the
crash and all that sort of things coming along now so but when crash so but
anyway yes I agree it’s it’s difficult you know in this place you know it’s
hard to say you know everything how it’s all going to pan out and it just looks
like this world is undecided and we don’t know anything so again I think the
point is going back to coinbase saying listen at first we’re not going to
support the open point between cash because that’s not you know what we
believe in but yet it’s turning out to be this economically viable thing then
suddenly people have ownership over and it represents wealth and becomes a
liability you know to point – no have you no did not allowed their
customers do not that you know have that that derivative we had that product from
that product you know common-law product coinbase
is they made an announcement yesterday I mean they say they’re gonna have the be
cash by the first of the year I mean it they’ve altered their position so you
might not get it right now but apparently by the first of the year if
things are still cool with it it still works
they’re gonna they’re gonna give it out so they’re to the people who had the
Bitcoin there before the split I just wanted to throw that in there surfing
well the interesting thing Laurie and you said was that you know whichever
wherever the hashing power is behind whichever chain is behind it that’s the
real coin but I don’t think that’s an accurate measurement because hash rate
is free to move and it’s actually really clear in etherium actually NZ cash so if
the MNC cash – were switching back and forth all the time whenever they they
wanted to or actually this is say aetherium so they etc’ and eth miners
will go back and forth any time they’re very mercenary they’re just looking to
maximize their profits so as long as something isn’t more profitable it’ll
draw miners over until there’s equilibrium and in the case of coinbase
I think it’s actually smart that they’re giving it time because let’s say all the
miners left be cash right now or if the coin cash then it would just stop
existing we’re already seeing problems with block generation so it’s really
uncertain if it will survive right now it’s being propped up because the miners
are mining it unprofitably it’s two times more profitable to mine Bitcoin
right now at least what possible reason would they want to do that to just waste
money what what drives them well I think it’s part of is political it’s a
statement the faction that is pushing bigger blocks and Bitcoin unlimited and
XT and what other ones are there classic then there are they all all one bigger
blocks and this is kind of their deliverance right so part of it is
political part of it is face saving so some miners have said you know we must
have bigger blocks we must hard fork and that’s also why they’re marketing it as
a hard fork so if you see all the messaging it’s as Bitcoin is hard
forking but it’s not really a hard fork it’s when you say hard fork and soft
fork that’s more of a qualifier between the kind of network upgrade that should
result in one chain whereas Bitcoin cash the intention from day one was to clone
it and give it to give it its own life and marketing also why why are they
mining something in unprofitable because it’s like an investment they can put in
a few million dollars of mining hardware behind it and it’s not committed they
can move it out at any time but by sustaining the chain it’s giving
it life and it’s giving it value so you see news outlets they’re reporting you
know we going cash has a market cap of billions of dollars right that attracts
people it brings in speculators and you know if you have a lot of be cash before
the split then you can sell it and make some money and recoup your losses so
there are other ways to make money other than just finding it let’s get ansel in
here real quick with his thoughts about what’s going on because I know you’ve
got some something to add to this back and forth that’s been going on and tell
us where you see be cash going in the next few days two weeks
Ansel well to answer the question lorian’s question about why would they
mine it well there also is that aspect of slowing down the difficulty
readjustment and so hostile miners will go and mine it so that the difficulty
will not readjust too quickly and you can keep basically two hour
blocks for a very long time until you get to the first true difficulty
readjustment so there is that aspect of it it could be hostile miners look there
was a coinbase transaction that said you know fuck Bitcoin cash or something like
that so there there are hostile miners out there and that’s that is definitely
happening I think Lorien you you are I’m glad to hear that you’re a big Bitcoin
maximalist but I think you’re under estimating how
difficult it is to actually launch a real chain now that Bitcoin exists well
you know every this is an adversarial system and so people are going to be
tearing apart your code all that stuff we we see that etherium has gotten much
higher market cap much bigger but that is I think in part at the leisure of the
hackers right anytime they want to go in we saw this with parity anytime they
want to go in and steal thirty million dollars they can do it they could do it
tomorrow if they wanted to but if they did it every single day the the market
cap would go and there would be their little honeypot that’s gone so they’re
gonna spread out their hacks and do it that way when you’re looking when you’re
comparing Bitcoin to be cash it is more of the one it’s the future value to but
it’s a store of value and there is nothing right now to store value in be
cash I don’t think all of the future value all the the current value is in
Bitcoin and I don’t see that changing there’s no way for it to change I think
game theoretically there’s no way for it to change all right so so with all that
being said weird and so where do you see this be cash thing progressing now in
terms of people are people going to buy it or is there gonna be a major dump
this week I think the safe bet is just to say it’s gonna look like every other
all coin chart before this year so it’s gonna spike up and just slowly grind
down to the bottom and two years from now it’s probably gonna be thousands to
Toshi’s or something so you don’t you don’t have very high hopes for it
you’re not optimistic like Lorien Laura Lorene seems to be a big optimist here
and I will it’s good to think that way I mean I I have nothing against it that
that coin if it’s if people just call it be cash I think using Bitcoin is a
really tricky thing because it is not a real it’s not it’s not what it says it
is so sorry Laureen I mean uh Ansel continues
you know the confusing thing is just that that you know but people now have
it you know it’s not like another point that comes along that you not have to
you know bring value into it suddenly everyone has value on another chain and
it feels you know you almost want to protect that you want to know in a way
get the value of that going up I guess that’s the trick but that the bait and
switch yeah well yeah I see this dream yeah yeah yeah so yeah so sorry I
interrupted you for even to say yeah that’s not free money everyone says it’s
free money no you people are gonna find out where your big real Bitcoin stash is
if you’ve spent years trying to be anonymous they’re gonna be able to trace
it back right to you so you’re gonna lose your anonymity that you’ve that you
probably spent a long a lot of effort to keep intact there’s also all sorts of
different things like maybe hit BTC Goes Down and lose your coins or you know
there’s risk it’s not free money and there is no free money I
it probably has taken some away from the Bitcoin market cap even though Bitcoin
has gone up but if there wasn’t this hard fork we probably would have been at
all-time highs right now so yeah there’s no such thing as free money I haven’t
changed any mine in because of those exact reasons people to for a lot of
people to cash out there there be cash they’ve got to install a lot of these
new wallets they’re floating around and you don’t really know who’s writing that
software so I think there’s an electron cache that’s a clone of electrum kind of
stealing their brand there but you know I don’t think a lot of that code has
been audited and I think a lot of these are Buckey even Bitcoin ABC the stuff
that the implementation is powering the cash is buggy so if you read tracers
website they’re saying there are a lot of issues how they’ve structured the
code and written the code for it so you’re kind of trusting that they’re not
going to steal your private keys when you import them into these clients and
because everything was so rushed I don’t think there’s been a good security audit
or investigation his implementations are a matter of time
for Eric everyone is to you know concussion to shape-shift because he’s a
this is a trusted brand do you think that’s imminent I mean there’s a great
question because some people are taking their time willing to be involved in it
they might talk a big game that you know we want options but people don’t wanna
be liable if they if they allow people to sell it on their exchange and
everything messes up they don’t want to be liable for that thing so I personally
think it will be on shape-shifts eventually I see that this coin people
are jumping into this thing way too fast was there I have learned last week there
are so many you don’t want to risk your Bitcoin because of this of the greed or
the desire to get this coin so I see a lot of people cashing out this week but
then I see kind of a lull for a while as people get used to it as it gets safer
and the more responsible businesses that want to be involved in some way will
slowly jump in that’s just that that’s an opinion of mine and then there might
be an opportunity to sell again because right I don’t know the price right now I
don’t know what exactly is going on I know went below point one BTC San said
what do you what do you see for the price for this be cash thing where do
you see it going these next few weeks and in terms of it maybe being on shape
shift or maybe other exchanges adding it and stuff I think it’ll probably make
its way to shape shift the question about shape shift is if you’re concerned
about privacy I think they’re doing some reporting right now there’s been some
news about that and what ensel is saying if you’re if you’re moving a lot of your
coins it can be traced back to you right it can be traced back to you on Bitcoin
tube so there is a risk on that side as well and I think a lot of people don’t
consider it sorry the question was well what do you think about the price where
do you see this do you see major dumping this week and do ya okay
so what do you see with the price in the coming days in the coming weeks will
there be a rebound in November when there’s new fight out there because
there is gonna be some new fun from the Segway 2x people hmm
I think be cash has taken a lot of steam out of that the Segway to X group and it
actually is funny because we kind of Slee see three clear see three counts
very clearly now there’s the be cash group which are kind of pumping and
dumping and if you I don’t know if you read this this this website name Calvin
Dyer calm they’re the ones have been flooding seg wit and there are the first
is today you know we’re casino site and we’re going to support be cash so there
is this pump and dump group over on this side that is kind of saying you know
cygwin sucks and be cash is great and everything and then you have the middle
I guess you can call them Piqua maximalist people they’re interested in
math and science and Bitcoin itself Bitcoin proper and then on this side you
have a segment to X group and they’re the corporate guys that that push
through that New York agreement and they don’t like me cash because it kind of
takes away their their momentum but I think there’s a massive pressure to sell
sell off be cash and people can actually get their coins on exchanges some
exchanges want 20 confirmations and at one our block comes with sometimes there
being no blocks for seven hours or 13 hours it’s really hard to sell and if
you look at exchanges like hit BTC it is like 10 times more coins being sold and
bought so once things are moving along the market is more liquid I think the
price is gonna drop very rapidly and I’d be surprised if it was over $100 in a
couple weeks okay see and you see no recovery because I mean there are a lot
of irrational players out in our space we’ve seen with icy hose and everything
but they just think that there’s a new trend I want to jump into this thing you
see III agree with you that the prey logically logically this price has to
drop there’s a waiting line right now the sell this is taking 20 hours
basically but a lot of people are going to are going to
shoot their load get rid of their stuff but there will be a few people that
still is they’re still holding and then they’re gonna there’s gonna be height
pieces so I foresee that you know I think it can be hiked up again I don’t
think there’s much legitimacy behind the coin but I’ve seen what’s happened with
these I cos I’ve seen what’s happened with these other pump and dump there’s a
lot of irrational non-logical players geological players in this there’s a
logic in cryptocurrency so it can be pumped it can go up you know to a couple
hundred bucks it can sustain that as long as people pumping it or pumping it
and you just see people coming out of the woodwork and saying be cash is
better than Bitcoin not you Lorien but other people but you know you kind of
wonder like why and I was arguing with the guy in Twitter he was saying be cash
is gonna compete with litecoin and he was saying be cash is queued up here and
bitcoin and litecoin or not and I’m like what why it’s the same thing and in fact
a light coin has more throughput than be cash so and has more hashing power to so
there is a clear movement to pump it and get rich quickly and it can sustain
because there is no rational thinking in the crypto and cryptocurrencies space
like things that are worth nothing are suddenly worth something
I was talking with Adam back and you know you can think of B cash as a social
experiment to see if you give people something that is not worth anything
will they value it and I think the answer is yes and it opens the door for
more of these clones to come on the market because people send real people
ascribe value to it because it’s theirs and it’s a really clever way you can
almost say ad cash is like a back door stock market listing in a way that it
shouldn’t be there it shouldn’t exist but then it can kind of make its way
through and get listed by any definition it’s an altcoin
and exchanges should not even bother like if I launched a coin right now I
don’t think the exchanges would list it but because of that effect where
people have been gifted something that kind of looks like it has value it kind
of takes on a life of its own and has that value I did you see that that’s the
tricky thing because you know it came from Bitcoin so everybody who had
Bitcoin on those exchanges now have a new asset now whether or not it is
valuable that’s another question but the fact is that it does have value right
now suddenly means that those exchanges must you know they’re compelled to do it
if if it had just been another old pointing of weird called Bitcoin cash
we’ve we’ve got this of course they would never have done it but the fact
that it was it came out of the coins that were on the exchanges that were
held by those people then suddenly made it so difficult for them that they were
forced to now allow people to at least draw it out so it’s it’s a very tricky
situation this very interesting I think that was an incredible point Samson made
about this is a social experiment I mean that Samson that was just throwing it on
on your part and atom box part kinda like button if you like what Samson says
sorry sorry to interrupt you Samson sorry you were about to yeah yeah I
think we’ll see more of this because it it’s kind of setting a precedent that if
you do this if you clone the coin to clone the code base and clone the
blockchain you know people will clamor for it so I would expect there will be
more of these clones to hit the market and it is a clever marketing gimmick who
was behind this I mean they don’t have infinite number of Jihan lose or roger
bears to pump something in three weeks right so there’s there’s always a limit
to this plus remember lucky 7 and what was that cripsy or lucky 7 and one of
the altcoin exchanges where they pushed on an update that had malware in it or
that went in there and and took down their exchange so all of these things I
mean these you can’t just infinitely fork a coin so I think that not only
does the number of people it relies on a small number of people but it also
relies on it the ignorance of the masses they don’t understand that this could
have bugs in it mm-hmm yeah it’s interesting point that not
everyone can do it but you actually don’t need that much money to do it all
he needs a little bit of cash rate and all you need is a friendly exchange to
collude with you and do a futures market and you can prop it up because well the
moment it kind of exists and the the coin market cap sites are so dumb they
just multiply coins with price they don’t take into account liquidity market
depth or even utility or anything else it just exists and like you said people
don’t really know better so they kind of think okay that’s real and then the
mainstream media reports and says the market cap is so big that makes it it
makes it happen right so you don’t need that much to create one of these coins
that’s why I think we’re gonna see more of these clones come on to market I
think you’re right that there’s not an infinite number of Rogers and G Hans
that can prop these things up but it’s kind of a it is kind of a feature of
cryptocurrencies if you’re in any currency early and you have amassed a
large chunk of it and it actually gains value over time it can let you it’ll
give you enough money to kind of be able to support a clone of it later on right
so if you’re Roger and you came in early won the lottery ticket you have a bunch
of these coins well now the market got Bitcoin is is 40
billion now you have some money to play around with and sustain one of these
chains so let’s say your initial Bitcoin investment is worth 50 million or
hundred million well propping up with two million or three million dollars
passion power is pibbly so is Roger the new dam lammer I don’t know maybe all
right I would I would wrap up the be cash thing do any of you have anything
to add to the be cash discussion before we move on to Lori and telling us what
is going on in Africa in South Africa with this new TV show and with
cryptocurrency anything to add to the be cash anyone I would quit I have a
question and a demurrer marketing guy so now now
that we got this thing that everyone is put that well that these guys are
calling Bitcoin cash how is it possible that anybody can create anything that
says Bitcoin you know in the name I mean what rights does Bitcoin as a thing say
that you can’t use the Bitcoin brand because that’s a trademark or something
how is it possible to stop somebody calling a coin bit coin something it’s
in it’s impossible there’s already a Bitcoin dark what happens is people
start legitimizing it by writing articles about it and colluding with
exchanges about that’s what you have to do to get so it there’s nothing to stop
anyone could create a piddly little altcoin called you know bitcoin atom but
everyone would ignore it it would just be totally forgotten I maybe I’d be
hyping it here because that would just be me but so it can’t be stopped but if
I if I talked to some writers to hey you gotta write about this you’ll get some
Bitcoin atom once you hype it up you got and especially with the exchanges do the
futures market yeah then then it’s got a real chance of success but that the main
question there’s anyone can there is no one can stop a people no one owns the
name Bitcoin and maybe someone’s gonna try it maybe Craig Wright will try to
buy the name big corners I mean say he owns it there’s some ludicrous thing
like that sorry for you guys have your say on that sorry I said too much yeah I
would like to answer that um we there are so many pyramid schemes in the world
I mean I live in a small town here in the Midwest and there’s probably
thousands of people doing pyramid schemes crypto is just such a small
community that we know all of them we’re never gonna stop this from happening
there’s they’re gonna keep growing in number the problem is that they’re not
going to be able to socially attack Bitcoin so yeah I think we’ll see more
of it but they’re they won’t be big they’ll just take advantage of suckers
that’s that’s all you can say Samson what are your thoughts on a future how
many future coins are gonna try to use the Bitcoin name and do you think is
there a way that he could be stopped I don’t think there’s a way for people to
stop using the name I think they’ll use it until they can’t
use it and I think it’ll be hard for another coin after Bitcoin cash to do
that because there will be media fatigue for the media it’s kind of a novelty
right now Oh Bitcoin split it’s not really a split
it’s more of a duplicate it’s a clone but you know it’s interesting for them
that that something can happen like this because you just never see you’d never
seen anything like this happen in financial markets right the closest
analogy is a stock split but then it’s it’s all regulated right so I think if
another thing at Bitcoin Adam did come along I don’t think it would work even
with a little bit hash rate propping it up because it’s like that story is done
already it’s a I think it has a lot to do with
the scaling debate so if you think the scaling bit was was long and drawn-out
it did give a lot of attention to group trying to make bigger blocks and this is
kind of a there oh there there um finale yeah I you know you hope that the the
flood stirs are gonna give up but there’s there always be something coming
up there’s that so does the life in Bitcoin there’s always gonna be issues
there’s always gonna be someone trying to stir the pot so then you know teach
there whatever all right anything else about up be cash before we move on I got
one more thing I’m okay decentralization is not a nice to have right you can’t go
from centralization and try to unsent relies to to decentralize a coin once
it’s centralized it’s done so that puts a limit on a lot of these coins too
because they have to be centralized to launch it’s the bootstrapping problem of
the blockchain you have to be centralized to bootstrap it Bitcoin is
only one that will be original in that respect excellent point about centrally
the excellent excellent point Samson and Laurieann anything to add
there to that alright let’s let’s move on Lorien since this is
International show people are very curious about what’s up there’s a
there’s a show on cable TV now in South Africa mainstream news talking about
Bitcoin and cryptocurrency every weekend you were just on it tell us about this
NV is it CNBC afro I don’t even know tell us what’s going on with that and
what’s going on with Bitcoin in South Africa and cryptocurrency in general and
do people are people talking about the Segway tour the split or anything down
there well that’s that’s just an indication of how big Bitcoin awareness
is growing in South Africa so I forget it is an amazing country it’s it’s a
you’ve been here it’s it’s it’s the most European of every African country but
yet it still shares the DNA and neighbors of Africa and you know we have
Zimbabwe right on our doorstep and you can see you know how bad it can be but
yet you know we protect it from that somewhat so we’ve got we’ve got greatest
and everything’s fantastic if you are a person who needs the skills there’s a
lot of educated people here a lot of infrastructure a lot of Technology and a
lot of very smart very aware people and so cryptocurrencies is you know it’s
it’s it’s very socially acceptable in fact you know it’s it’s less and less
nowadays about all the bad things that can happen other cryptocurrencies but
now it’s all about the good things and of course Bitcoin is the brand name
that’s that’s the biggest brand name and also because of the services that are
here they focus on that the corporates are all focusing on aetherium and then
there’s obviously that you know sort of few people who like them know about like
point and all that sort of thing but and so my business is all about trying to
get this point into the hands of people here because they want it and the
exchanges because we have exchanges we’ve got good exchanges they’re just
too complicated for most people you know you go to give tea money and takes days
and then you would understand how exchange works so we try to just make
batches and all those sorts of things that get its point into the hands of
people cuz they want it but you know and now you’re going to see why I have that
feeling you know when it comes to solving problems with Bitcoin you know
I’m almost willing to look at anything that could potentially solve the problem
that I’m finding down here in Africa and before
for a long time the fee I mean for last year two years you know the fees have
just been completely outside of the reach of anybody anybody can manage it
you know that managed place on the street
cannot pay a dollar on a transaction fee and yet even then buying it you know
they’re going to want to hold on to it to speculate a little bit but then they
are going to want to give that to somebody else they can always send it to
a relative and even if it’s a small amount of money it’s it’s a huge
roadblock and it’s a stumbling block to getting them into into good point more
freely you know you can cradle these products which they want but it’s just
too much so you know you know when you’re down here all you want is to find
a solution to this problem and and you know on scan chain scaling you know it’s
it’s it feels like it’s the most the most the biggest thing that can happen
right now that will solve that problem and suddenly you’re going to start
seeing massive massive growth in on this continent so it’s very exciting and then
and you can see now by CNBC now being totally happy to put a TV show on which
is all about crypto trading it’s not about you know blockchain tip it’s not
about and all the things we discuss it’s just literally here’s a ticker symbol
look how it’s been doing over the last six months
oh and by the way we you know these guys are you know they’ve got a good white
paper all they’ve got a product that’s sort of you know in there but it’s just
what tickers and sister parts it’s almost like this this whole new world of
tech stock trading and this show is just shows you how people are trying to
embrace it so it’s a very exciting time you know if you if you want to I mean
you know if you want to be in a place where you can see the real reality but
point taking over the world come to Africa and you know you’ll be delighted
just a reminder to everyone to pound that like button if you like when I
bring up how Laura and I were together in South Africa we were together in
Zimbabwe we were together in Mozambique meeting real Bitcoin people and our
cryptocurrency people and it was just quite a bonding time for us I mean to be
out there during the nitty-gritty in the getting down and dirty with the people
it is has changed my life and it is truly something to see
because you hear a lot of people talking about the potential of Bitcoin in Africa
well as be on the ground there and you will you will be able to talk about it
on an expert level when you come back now I I did see some of that CNBC show a
little I mean they’re talking about icos and stuff a little bit is that gonna
lead anybody down a dangerous path or I mean is it good eat is the show gonna
get more people get more financial people in the Bitcoin in but will it
will it hurt some people too what do you what’s your opinion on that Laurie well
yes I think I think everything you said you know but first of all and assume so
I’m saying you know markets sometimes just stay irrational they don’t have any
real substance to them but yet people believe in it and they want it to
continue so they just persistent somehow you know value flows in amount and it
seems sustainable I see how as people are certainly buying I see as people are
trying to raise money through ICS right now I know a few projects actually quite
interesting ones to be honest you know quite skeptical about ICS but I’m
starting to see quite interesting applications for a nice year you know
this is one company that’s doing rental properties and they issue tokens which
you know where you can own dividends and things and another bunch who are trying
to bring you know like the music industry once you’ve blocked changing
allowable values flow into into the artists you know company these guys are
trying to dip sports stars because they also get milked by the agents or the
management or whatever and so they’re trying to launch a nice year so it’s
actually creating a lot of interesting you know application down here and also
you know in so that’s good it’s still developing country so there’s a lot of
things that don’t exist that existing in places like the US and Isis can maybe
just fill a gap instead of the sort of legacy tech that will come along in
decades to come so it’s very interesting very very
interesting indeed I want to ask the other guests since this is it’s just a
great opportunity have Lorien on this show to give this real he is the the
best biggest most famous Bitcoin cryptocurrency guy in all of South
Africa do you two have any questions for him or any
anything you’d like to to add to this any curiosities I have a comment so
Lauren you’re saying that on train scaling would help because it would
reduce the fees right I think off chain scaling would help everyone in South
Africa or Africa the most because there’s how many millions of people
there in Africa the whole of Africa probably just over a billion so yeah
they just on chain scaling will not get assume everyone wants to do one
transaction a day that’s going to you need at least gigabyte size blocks and
that’s not going to work you have to do the math and multiply out transactions
how big a transaction is and how big the blocks have to be based on how many
blocks that can be in a day but I think lightning will actually help everyone
because you can have near zero fees people will be able to receive bitcoins
through lightning and they only need to settle up when they want to settle out
they can keep their if they’re good coins in lightning sure no I agree with
you that that is definitely the the long-term vision here but if we were to
try and then fix a little problem that has a big consequences you know you know
just just taking those then those blocks up to eight minutes just if you just to
do that just simplest case you know and it seems like it is possible to do quite
quickly then maybe you know we could have that time to now start developing
on all these like lightning and tasting to make if it works great and but just
for now we’re anxious you know we want to get things going and it would be nice
if we could then maybe if they get compromises their right to X you know
hopefully by the end of November you know it’s every month that goes by it
feels like you know and also there’s other issues around ten you know it’s
almost like a race against time given global macroeconomic problems that seem
to be you know coming to a head now you know it’s almost like we we should try
and do as much as we can in a short term to just you know give us some you know
allow us to begin right now and then we can say thank you in principle
yes but in actuality if you go and make a Bitcoin transaction right now it’s not
going to cost a dollar it’s gonna be a couple cents because the mempool is only
35 megabytes so if you look at go to one of the websites tracking the mental
usage it’s like as it’s being spammed and now it’s back down here so it’s
actually really cheap to do a transit transaction right now and so you can’t
do 8 mega byte blocks but there is actually actually going to be a cost
because to process 8 mega byte blocks you’re gonna need more robust hardware
so those same people that are there going to be hesitant to make
transactions because they’re expensive will also be hesitant to run a full node
and validate their own own transactions so it’s kind of like you have to find
this right equilibrium between the cost to run a node so that you can self
validate and the cheap the price of transactions right now I think it’s okay
and urgency right now unless you know in the next two to three weeks the member
will get spammed again and the price goes up for transaction but I don’t
really see that happening and one segment is live it will be much more
expensive to span the network the cost to create the u2 EXO will be more
similar to the cost to spend it so it’s not going to be as easy for people to do
that and plus segments will give us larger blocks as well which will
alleviate the fee fee you crusher I think it’s simpler than that if if you
want the solution build it why are you putting pressure on some protocol devs
halfway around the world build your own solution if it’s so easy look at it
going from one megabyte to 8 megabytes with this be cash it’s centralized it
what do you need a centralized blockchain for just use a database it’s
not that hard and having this these icy O’s on a CNBC show oh my god that’s so
scary to me these people are gonna lose all their money they’re gonna have
Bitcoin a bad name they’re gonna bring the regulator’s down
these people we’re gonna link together I’m gonna link to that show two people
got to see any of this is quite amazing that this is going on in Africa it will
be linked to below sorry continuing a salsa yeah I mean I could rant about
this all that most people aren’t going to use Bitcoin you know Africa might be
right for Bitcoin derivatives like lightning or side chains but they’re not
right for Bitcoin Bitcoin cannot solve you solve your problems you have to
build your own solutions if if it’s not ready for you build it I and don’t try
to don’t try to thud our coin away don’t try to do you know take over our
community and caused rifts in our community like Roger ver cause all these
rifts in the community and now people hate each other
why because they he had to tell us what to do start your own coin if you’re so
smart start your own blockchain III can’t believe that people would want to
like pump this up it’s it’s like look at all of these these speculators out there
of course these coins will have a small market cap because there’s enough
pumpers out there that can get enough dumb money in to keep it pumped up to a
couple hundred million dollars it’s never going to be a continent changing
blockchain okay it’s never gonna be I will say this Lorien is making a product
and Lauren you should talk about your product but apply yes well first of all
you know I’m you must understand it on I agree with everything that you guys are
saying you know whenever I’m faced with a situation I was trying and and look at
both sides and see you know look for the silver lining you know and when we see
something like this you know of course like I said to you before this was this
was my sin in my my worst nightmare having a time when we would look at
something like Bitcoin splitting so it’s not a desirable thing at all it has
certainly created a lot of confusion on and you know it and a game open the
little profit 2850 right now it’s gone up since the
fork this is not the worst we’re nightmare all of the hard for all the
hard for kur and the big blocker the mega blockers the on chain scam two
people now have their own chain that’s a that’s a a dream come true if you ask me
it’s not anybody’s worst nightmare showing you that’s exactly no no you’re
actually entirely correct and that’s why not other way on the other side of it
it’s not so bad you know I’m looking at this I’m saying well well now we’ve got
these two different things that you know who knows now we can watch them it looks
like it didn’t end but when you slow a bit points from all this and hopefully
that you know you get carries on and and doesn’t make too much more confusion in
the future but it’s nice to have it you know because now we can maybe see what
is going to happen you instead of us fearing this whole thing we know in that
position where okay it’s happened well let’s see let’s see how how the market
place out let’s see the dynamics so it’s not that I’m trying to justify this I’m
not trying to say look I’m you know I’m glad this happened not at all except for
the fact I’m glad it happened because now that it’s happened now we don’t have
to fear it anymore and we can now see what goes on now this is the whole thing
about being the only doctor is we all be living this out in our lives see how
these things turn out so it’s quite exciting actually I would like to jump
in one more time sorry Samson and Adam to keep dominating this the time here
but holders weren’t scared i if you listen my podcast from February I said
this user activates software it’s gonna go through it’s gonna be a non-event the
whole time going through holders aren’t scared so what if they lose 50 percent
today they’re gonna be up 500% next year so holders weren’t scared you know the
people that were scared were these speculators and that makes me very
suspicious of people when they they’re really worried about like my product and
uh needs to pump the price you know this is you know I’m scared about this price
they don’t you don’t understand Bitcoin bitcoin is robust it’s gonna last
look at this hard fork nothing happened nothing don’t be scared it’s nothing to
be scared of just iein whole Bitcoin and in ten years
you’ll won’t even need to start a business you’ll be investing in
businesses like whatever you’re trying to start up and you’re gonna be doing
charity work in Africa with Bitcoin derivatives so that is that’s my rant
sorry guys so nothing happened because the be cash guys put in a strong replay
protection potentially could have been pretty disruptive if they didn’t do that
where transactions were going back and forth between both chains and causing a
lot of market confusion but they did put it in so it’s almost like it’s a totally
separate currency and I think that’s why it didn’t disrupt the market too much I
thought it was at the leisure of the miners I thought it was like kind of a
soft replay protection they’ve changed it a few times throughout the
implementation but right now it is uh it’s reliable reproduction very very
good to know Lorien I want you to mention your what
the specific thing you’re up because he’s like you mentioned Bank mentioned
backing moon and whatever you want to mention give yourself up because people
are curious about what you’re doing well as I said you know trying to get what’s
going into the hands of the unsophisticated people who don’t even
have bank accounts especially people who come from across the border in the from
Zimbabwe trying to come here and get and they get these informal jobs you know
they don’t have any identification it’s very hard for them to get it and also
you know once they have it we can easily send it to their relatives and turn it
into more money on the other side much like good pace at us so you know that’s
why you know we so keen to make sure that first of all that people get to the
products with you know they can gauge the retail checkout and they can buy
this cash and that’s gonna really it makes it a lot easier for people to get
hold of it and that’s that’s my own mission my stated goal is to bring good
point to Africa and do whatever it takes to get people off you know their local
fiat currencies and on to sound the money so that’s that’s basically what
I’m focused on all right and I will add we’ve got some links down there to all
these guys Twitter’s and they’re gonna send me more links they want me to add
so come back if you’re watching this slide not all
the links are out there yet they’re gonna be all sorts of informative links
about how to reach these guys and what what they’re doing Ansel is there
anything you’d like to add that aaron and is there anything we forgot to
mention during the show anything what you’re doing you want to plug anything
things just anything the floor is yours answer no sorry I ranted there Lauren
I’m sure you’re a great guy and I’m we’re kind of ideologically aligned I
think we just have a different understanding of what’s going on with
with Bitcoin and I’m I’m really tired of all of this stuff I think we can avoid a
lot of this if people that are in kind of like look Adam how many subscribers
you have you know people that are in the limelight a little bit the need to talk
tough and tell people how it is and not let these blockchain errs go and pump
all these icos and a cerium and all this stuff we have a responsible we don’t
have a responsibility but you know that is nice for us to be able to do that
that’s all I have but oh I do want to just say listen to my podcast Bitcoin of
markets calm yet the frustration that’s coming from Ansel I know exactly what he
means here he there’s nothing personal against Lauren or anything like that but
we going into this to build up up to this was that all people were just
making this thing seem really scary and playing into the hands of the bad actors
and others who are were behind this be cash thing so there was an air of
legitimacy that some really smart people in our space were giving it and they
didn’t mean to do it they didn’t really mean to do it they were a lot of people
we can’t help these guys there’s you mean you don’t have to hate a moment or
anything like that but sometimes you got to think like am I being used here am i
giving him too much credit and that’s where I’m you know when when Lauren was
talking about all we know it was it was gonna be scary he’s gonna be the end of
it we’re look I was beforehand I was saying the same thing that no it wasn’t
gonna be those things at all I didn’t want people to over react because
overreaction was gonna get us into a bad situation and the more
we talked about it the more likely it is if we never talked about if we ignored
all these people then it wouldn’t be listed on exchanges it all it is is
another altcoin really that is really all it is
but it’s an altcoin of people giving a lot of attention to for various reasons
so there’s there’s my little bit of a rant there too and again we have shows
about this before an Ansel was actually on that show where you address the
specific thing and that’s why I will never call it by the name that other
mean because it’s not Bitcoin it is it is an altcoin it is be cash is a fine
name that sounds like – actually that Ansel pointed that out off off the air
he said it sounds like – but um the end of my stir explanation right there
Lorien if you wanted to say anything about that I’ll give you the last word
oh man ok well I’ll start end up with saying that you know I’m with you guys
you know I’m very excited about say bird and everything that is to follow I guess
I was being a bit of a devil’s advocate you know there are different issues down
here and you know it’s nice to see that you know again it’s a free market and
you know it’s gonna be a whole thing about natural selection perhaps who
knows but at the end of it all I think we’re all gonna be better off you know
there wasn’t be a better place because of us I agree and I and I think it’s
great that you brought your opinion here in devil’s advocate and and you gave you
gave us a unique perspective because in this bubble in the North American
central bubble centric bubble then we interact with there’s just a lot of be
cash it’s big cash it’s just we’re gonna call it be cash but you gave I mean
you’re not in the you’re not here and it’s just you’re giving a very unique
and who know who knows how many people agree with you out there we don’t know
that’s why I try to have international guests on here
Sampson you’ve got the final world here word here you could talk as long as you
want about anything anything that we forgot anything you want anything you
want to tie up anything you want to promote the floor is yours
Samson mal you were the new one to the show so take it over baby
so you know I I’m hearing ensel’s rant and I feel his frustration I think a lot
of people are frustrated about all the fudge Tibbett Cohen and pumping of ice
euros and other things and I think it’s just something we have to learn to live
with in in this face because the incentives are to pump things that are
cheap right so people pump penny stocks they don’t pump Google
well they might pump Google but maybe not but you know it’s just always going
to be there the incentives are to pump these things and make a profit just like
miners want to make a profit and exchanges want stable currency so they
can offer to customers like everyone has their own incentives in this face and I
think what we’re doing you know what Adam you’re doing and everyone else is
educating people and letting them understand how things work right so I
think what Loreen is doing in Africa is really important it’s bringing sound
reliable money or store value to people that will greatly benefit them in the
long run you know how we get there how we evolve Bitcoin it takes time and I
think not everyone will agree on how scaling should be done but I think we
all agree that bitcoin is a good thing and that we should advocate and bring it
to the masses that’s beautiful that’s a beautiful way to tie up the show today
to end it I thank my guest for this lively
discussion of what has happened this week in Bitcoin what is going to happen
soon enough we really covered some awesome exciting controversial topics
and again this show is every Friday this week in Bitcoin I post a new show every
single day we have interviews we have all sorts of interesting interesting
productions here so i’m adam meister the bitcoinmeister found that like button if
you liked this video or if you just like pounding the like button I’m also the
disrupt meister did i say that i’m yeah anyway so remember subscribe this
channel like this video share this video and do check out the notes section below
we’re gonna have all these guys pertinent links put up there really soon
thanks a lot for watching everyone bye-bye hat see you next week see you
guys thank you see you

33 thoughts on “This week in Bitcoin- 8-4-2017- BTC Segwit, Bcash, Africa cryptocurrency news”

  1. Thank you Adam. You are the only one who gets it. I can not believe that some guys I actually had respect for ia supporting bcash. I wrote this on Crypto's news to troll him a bit. I was really angry. I don't believe all of this but thought that this might make him retract his statement. It is a bit negative just to warn you. I will remove it from his comments if you think it is not the right way to approach this. This is what I commented on his video:

    Whether you would like to believe bcash is the real thing or not. That is not the problem .The problem is the fact that a group of people can just create a cryptocurency out of thin air. Even an direct opposition coin to the idea behind the beginning of the crypto space which is bitcoin. It seems like anyone can just create a coin and there you go. Another offering of unlimited supply.

    It makes me question everything about the "real" bitcoin.

    "Scarcity is clearly out the window, bitcoin reaching $25000 or higher is clearly out of the window. I think I should start a coin. We really need a coin for every single dollar in this space. Each coin should just be worth one dollar and each person should just have his own coin. It will get rid of all speculation and investing so that we can actually start building the new economy"
    Days of ANY coin being thought of as special, worth more than others or a store of value is over. It just started and soon everybody will realise. We just started printing cryptocurrency guys. Spend what you can while the ones you hold still have dollar value. Thanks to bitcoin cash, the supply of cryptocurrency just became unlimited. To be honest, it has never been scarce or limited. We just allowed it to be because of our choices during market participation.

    Every video, every blog and every parrot with a voice in this space always mention economics 101 but it seems that no-one actually know what the effect of supply and demand on a price is. We just doubled the supply of bitcoin in an almost nonchalant fashion. The market has to start realizing that in reality there are actually already about 800 bitcoins with different names out there.

    The only way we can save the idea of a million dollar bitcoin is if bcash gets pushed out.

    I believe ethereum tokens which are basically just stocks in a company with many competitors already entering the market. These stocks will be split and has before. Earnings will determine the price and so it will have to be capped.

  2. The next FUD campaign topics in Bitcoin will be privacy/fungibility issues. That will make the scaling debate look like a walk in the park.

  3. I am the new flood thats here and on the way you touch on it with Amanda b Johnson I myself have been 24-7 in the info so much tec and this info is so a part of the core but we on the way need a 5 year old lesson and your grandmother can understand and use I am in my 50s and a x wateress and little mainstream ed this can be the way out but you guys need to be simple for us and keep the core group doing what it has do bitcoin brand name its taken hold so anything with bitcoin attached to it will take us to the moon bitcoin is out anything bitcoin will do the more forks will bring more yalue in the long run first to market I love the tec guys but bring a balance simple and tec thanks to you and you channel regards HI DARLING FYI THIS IS MY FIRST TIME EVER TO COMMENT ON A CHANNEL IF YOU READ THIS CAN YOU LET ME KNOW

  4. Bcash is a very sad event: A cryptocurrency with big blocks filled with (on-chain) coffee transactions and the enormous blockchain bloat this is causing cannot stay truly decentralized. It cannot become the new independent world reserve currency immune to banksters and their evil inflationary fiat creation out of thin air.

  5. you guys either trying to mislead people or just too dumb. bitcoin cash is the real bitcoin and the way bitcoin spouse to be ,that's what the creator of it said.   now you people pop out of nowhere and give stupid opinion

  6. ADAM MEISTER cant thank you enough for telling everyone to just hold! over and over again everytime. *GOLD AND HOLD GUYS * Have a strong hand !!!

  7. Can you please help? This is REALLY important. (I wrote something long – please suffer through it.)

    Major Grass Roots effort needed to save Bitcoin (and thus, cryptos in general) from this attack
    (by "The Rothchilds".. bankers). The story needs to be told, but can only happen via grassroots.
    The name (Bitcoin) WILL be ruined. This is how bankers destroy their competition. Lightening Network
    (off chain…) will be much more vulnerable to attack because services will be responsible, and a hacker
    only needs get into one place, instead of a million wallets (i.e. think Target Retail losing 50 million users
    credit card info…)

    Bankers have centuries of destroying their competition. This is almost always accomplished by destroying
    confidence. In the early days of America, the Colonies were starved for currency, and experimented with more
    than 2500 different ones (i.e. little banks, etc.). Whispers and rumors killed most of them. Today, we can't
    have a Governemnt issued currency (which would NOT need to be created as debt, but something rather like greenbacks)
    because, of course, "You can't trust the government to do it. Blah, blah, blah, blah…" So, the bankers keep
    their job / position as the suppliers of our currency.

    First, they need to kill Bitcoin Cash. Later, the will destroy the name of Bitcoin, and with it confidence in Cryptos
    altogether (as Bitcoin is THE name that the average person knows).

    I see two prongs to this attack right now (i.e. the move to destroy Bitcoin Cash).

    1) Driving the price down in the exchanges. Ruining confidence, encouraging everybody to dump it, scaring everybody, bad-mouthing it, etc.

    If you noticed, in the months leading up to the UASF, big demand drove BTC up. I wouldn't be surprised if a lot of money wasn't spent buying a significant position (i.e. BTC / BCC to be used later to kill such a move as this last ditch effort to save Bitcoin – Bitcoin Cash. Not to hard to imagine and anticipate the BCC Fork – these guys are GOOD at this kind of thing.).

    It doesn't necessarily take THAT much money to move the market – the only money that matters is the money that is moving. For example, many, many people HAVE BTC, but are just holding it. The value is primarily determined by those buying and selling it. And that is a much smaller number (i.e. not $40 billion).

    2) There is also an effort to disassociate the SECURE coin (BCC) from the NAME BRAND Bitcoin (i.e. in case the good coin survives the first few months). So we should not adopt "B-Cash" or any other shit name. For the alt-coin revolution to succeed, the NAME of Bitcoin must be preserved, as this is the only thing that the vast majority will recognize. BTC needs to die

    THIS IS ONE OF THE MOST IMPORTANT BATTLES IN THE HISTORY OF THE WORLD. We cannot control the major platforms. They are all controlled and being censored. If this revolution is to succeed, there MUST be a grassroots
    information-sharing effort regarding this attack, AND we all need to support Bitcoin Cash as much as we can.
    Buy and hold. Even it it is just a little. Sell BTC. Kill it. We need to take the NAME back. (i.e. they are trying to kill BCC and alt coins altogether – I'm OK with waging war on the Segwit coin).

    We cannot afford to lose this. THIS battle will determine the winner of the war. EVERYBODY NEEDS TO comment, comment, comment. Share, share, share. Tell the story until everybody knows, one person at a time. Buy and hold BCC.

    Thank you, in advance for your efforts.

  8. I think this BCH last second hard fork is a clever way for prying eyes to expose otherwise hidden private keys and wallets for future hacking targets. 🤔

  9. What if I take an axe and replace the head with a dead fish. Is it still an axe, or is it a dead fish with a stick in it?

  10. I'm with Gamaroff, the voice of reason, the Bitcoin Kant – let the best coin win. I'm just glad scaling is finally here – one way or another. Battle of the BIP's.

  11. UPDATE BITCOIN SOUTH AFRICA

    Banks are responding by introducing their own versions of CENTRALIZED and REGULATED crypto currency which will force them to compete with the speed and rates of DECENTRALIZED CURRENCY e.g. BITCOIN. This is positive for free market trade in the interim yet the ultimate is to STAY with decentralized currency AND your own blockchain as banks may lose their relevancy in future in anyway and may become extremely unpredictable and volatile!!
    https://youtu.be/jH8Hv2p2ao4

  12. I think Lorien has a point here. Whichever coin is more functional will see a gain in value. However, confusion will arise among new adopters. It's this confusion that will drive some people to Litecoin. Overall publicity is a key factor

  13. Bitcoins holders get free Stellar Lumens. Does that mean Coinbase has to support STR and it should be renamed Stellar Bitcoin?

  14. Wow Lorien, I'm surprised at your position on this. I really enjoy your commentary but you've taken me aback with this left field viewpoint on Bcash.

  15. BCH people we have nothing against you. But you are Not BTC Bitcoin. Calling you BCash is simply to prevent confusion that's it. New users may n will think BitcoinCash is Bitcoin if they don't do their do-diligence. Let's not prey on the innocent. Peace n love to all.

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