Join 46,940 users and earn money for participation

My hope for BCHA

34 305 exc boost
Avatar for Cain
Written by   604
1 month ago
Topics: Cryptocurrency

Wednesday, November 18th, 2020, 3 days after the fork

Someone recently asked me what is my hope for this project (BCHA), and why do I think it's better than all the others?

Let me start with the second question since it's the easier of the two. I'll even do it in list form.

Top 10 reasons--in no particular order--why I think the project currently known as BCHA is better than all others:

  1. PoW>PoS

  2. Has a solid roadmap

  3. Technically proven and bold developer team

  4. Passionate and dedicated supporters/miners

  5. Proper incentives for developers

  6. A continuation of the original Bitcoin project

  7. The potential of the Global Network Council and how it adds a unique incentive to accumulate BCHA

  8. The culture

  9. The opportunity to get in on the ground floor

  10. The Benevolent Dictator of Bitcoin ABC

I could probably write an entire article on each point above, but I'm hopeful there will be plenty of time for more articles in the months and years to come as this project continues to grow. For what it's worth, I don't plan on going anywhere.

Now onto the more difficult question: What are my hopes for this project?

Number one, I hope that it succeeds. I want it to reward those who believe in this project the most, like the miners who are currently mining at a loss to keep this chain alive, the developers who are taking a leap of faith that this project has a bright future, as well as all the supporters like me who share in this vision.

To be completely honest, I am more optimistic about Bitcoin today than I've been since I made my first ever transaction. But perhaps the thing I am most excited about and hopeful for is the realization of the Global Network Council.

As we struggle through this chaotic 2020, the other day I asked myself why is the world so lacking in good leaders. Actually, I asked Naval Ravikant:

Unfortunately he didn't respond, but I think I was able to come up with a decent answer of my own. The one I came up with is that we don't have many good leaders because we don't have the right incentives.

I'm hoping the GNC can serve as an example of how to properly incentivize the right people to lead a project or community. Because now instead of having to be good at politics to earn a position of leadership, the GNC provides a framework where those who seek influence earn the right to wield it simply by becoming one of the project's biggest stakeholders. They become a stakeholder by mining or accumulating coins, not by making a bunch of noise or through politics. I want people who have real skin in the game helping to make decisions, people who truly believe in the vision of this project, not those who are best at appealing to the mob even if they have little to nothing at stake. This is because if we only reward people good at politics, what we end up with are good politicians, not necessarily good leaders.

It has been twelve years since the inception of Bitcoin, and we now have multiple branches of the original project. Each one has a different goal, with different incentive structures, giving us the ability to choose the project that best aligns with our own personal preferences. I choose BCHA because it most aligns with my desires, which is a chain that is focused on allowing its developers, miners, and users to profit off their work.

I look forward to seeing the birth of the Global Network Council and how it attracts more people to this project and increases the demand for the coin.

As someone who has never had a desire to run for any kind of political office, I think it is telling that I hope to one day earn a seat on the GNC and make my voice be heard.

Sponsors of Cain
empty
empty
empty
empty

34
$ 5.67
$ 2.66 from @TheRandomRewarder
$ 1.00 from @Mengerian
$ 1.00 from @SeanBallard
+ 6
Avatar for Cain
Written by   604
1 month ago
Topics: Cryptocurrency
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

PoW>PoS

Hey, you can say the same thing for Bitcoin, Bitcoin Cash, and other PoW coins.

Has a solid roadmap

A roadmap is more or less a promise the developers need to go or they lose their consumer base. ABC hasn't really gotten to move most of it down as the previous network upgrades never had anything present on it. A few of it, maybe, but it's too small to be considered part of a bi-annual major network upgrade.

Technically proven and bold developer team

Good point, Amaury's really pushy and thinks for the greater good of his team.

Passionate and dedicated supporters/miners

What, the only mining pool that calls itself a "Very Good Mining Pool [sic]" in Chinese? It only has 0.2 ExaHash right now.

Proper incentives for developers

Ah, yes, 0.25 BCH+ (out of current 6.25 BCH reward) per block. Really good IFP implementation, ABC.

A continuation of the original Bitcoin project

This is like, Bitcoin, Bitcoin Cash, and Bitcoin SV's callsign.

The potential of the Global Network Council and how it adds a unique incentive to accumulate BCHA

0.25 BCH per block to a selected group of developers and investors, where ABC gets to choose who gets it.

The culture

Hey, @micropresident! Your memes are amazing! Cain approved!

The opportunity to get in on the ground floor

It's literally in the basement right now as it recovers difficulty. Granted, it can be made from the ground up.

The Benevolent Dictator of Bitcoin ABC

laughs in Amaury

You do you, Cain. ABC haters (a very vocal side of the BCH anti-IFP side) might disagree, but this is your call.

There are no good leaders because a good leader cares for the people they care for, and power can corrupt.

$ 0.00
1 month ago

Interesting and knowledgeable article

$ 0.00
1 month ago

Awesome

$ 0.00
1 month ago

What a great information the majority always wins I really appreciate this goes well with your shoulder

$ 0.00
1 month ago

Seguro que podrías ser una buena voz si tuvieras la oportunidad de conseguir un lugar en el GNC. Por cierto sobre BCHA, ¿será como BTC y BCH en el futuro? Lo mismo con otro tenedor que realmente no floreció tanto ... Si es así, supongo que es bueno comprar más bcha ahora que el precio sigue siendo bajo ...

$ 0.00
1 month ago

Thank you very much for understanding something about your project.

$ 0.00
1 month ago

Can someone tell me how it works?

$ 0.00
1 month ago

Tell how what works?

$ 0.00
1 month ago

The majority always wins. But maybe in the future if the devs will continue their support on bcha even if with less fund, bcha will have a great chance. But still, no one can still predict the future. Just let us wait and see.

$ 0.00
1 month ago
  1. PoW>PoS

Are you in favor of Proof-of-Work over Proof-of-Stake? I ask, since although its notably missing from the current "Roadmap", Amaury has made it clear that he wants to explore Avalanche integration, which is very much a PoS consensus system.

Could you clarify what your expectations are with Avalanche? While you're at it, any idea why Avalanche doesn't appear on the "Roadmap"? Will there be a Roadmap v2 after the first one is complete? I've asked this questions many times, but no one has bothered to address it.

glad to see you're still here and planning to stick around 👍 I have some hope that both communities will find a "healthy" way to co-exist in some mutually productive manner 🙏 let's all keep building! 💪

$ 0.00
1 month ago

he wants to explore Avalanche integration, which is very much a PoS consensus system

The way it would be added to BCH/BCHA is not POS. The claims ABC is moving towards POS are social engineering dishonesty used to demonize their team. If you believed it, the disinformation worked.

$ 0.00
1 month ago

If you believed it, the disinformation worked.

if no one bothers to counter the information being dispersed then who's fault is that? certainly not mine. do you care to explain (or link to) how Avalanche does not replace PoW with PoS (maybe there's a blog post by ABC)? let's put an end to the disinformation 😉

$ 0.00
1 month ago

The disinformation has been refuted many times. There is no evidence ABC intends to move towards POS. Apparently you wanted to believe the lie so much you listened to the anti-BCH troll army's claims and found actual evidence unneeded. Many who wanted to attack ABC were happy to use these sort of dishonest arguments without any proof.

Avalanche itself may be POS. The idea for BCH was to study the concept/ideas to find a way to make zero conf. more reliable. POW was never going to be abandoned as the trolls like to pretend.

$ 0.00
1 month ago

The disinformation has been refuted many times.

where?! all I ask for is a link so I can read, process, then use my intelligence to draw my own conclusions..

There is no evidence ABC intends to move towards POS

the simple act of using Avalanche, a POS consensus system, would say otherwise .. fyi, https://www.avalabs.org/ is currently using Avalanche, and they are 100% POS

again, all I ask for is a link as to "how" ABC plans to implement a POS protocol and remain POW .. and please spare me the "troll army" talk, it's childish

$ 0.00
1 month ago

If BCHA used avalanche there might be a basis for your claim. Instead they are studying the ideas involved for possible use to make zero conf more secure than it is now. They have not made an implementation strategy up yet as far as I know. If they had proposed an implementation this trolling attack vector might have some substance and not be repeated only by people who do not think facts are important if the baseless-attack sounds good enough.

Edit: there is no link to your claim's truth. Yes, AVA exists and uses the ideas under review. AFAIK there is no claim by anyone developing BCHA that they intend to implement it in that same way. Your side just made that up using dishonest logic many like to repeat whether they realize it is dishonest or not.

$ 0.00
1 month ago

Your side just made that up using dishonest logic many like to repeat whether they realize it is dishonest or not.

no sides man, i'm just trying to get facts (from those that have them) so I can draw my own conclusions .. if ABC is looking to implement a "form of Avalanche" that maintains PoW, then I find that very interesting indeed (but I have yet to see anything specific as to "how" that would work); otoh, if it winds up being another PoS attempt, then I find that far less interesting (as in not at all)..

$ 0.00
1 month ago

Assuming POS is the dishonest argument strategy implemented to harm ABC's reputation. I agree that if they did that it would be a failure. I assume they agree with both of us on that.

$ 0.00
1 month ago

Avalanche is listed as Pre-consensus on their roadmap. It's always been there afaict.

$ 0.00
1 month ago

listed as Pre-consensus

got it, thanks! 👍

still the issue of changing to PoS, but that's a topic for another day 😉

$ 0.00
1 month ago

https://www.youtube.com/watch?v=l6XyQIH8JrI

Antony Zegers has a pretty good analogy that explains why Avalanche isn't going to be the end of proof of work on BCHA. It's built on top of the PoW.

$ 0.10
1 month ago

Avalanche isn't going to be the end of proof of work on BCHA

I really appreciate that ABC wants to protect PoW (Nakamoto Consensus); but Antony doesn't make mention of "how", just that it's the plan .. the argument that I've heard against Avalanche is that it can't be done without displacing PoW, so that's what I keep waiting for, someone to explain the "how"..

appreciate the vid link, still learned a lot 🧐

$ 0.00
1 month ago

I doubt anyone has figured out how to do it yet.

$ 0.00
1 month ago

I doubt anyone has figured out how to do it yet.

and that's fine! i support whatever efforts ABC makes to keep innovating on ideas that bring more value to the ecosystem 💪

$ 0.05
1 month ago

For sure you could be a good voice if you will be given a chance to get a spot on the GNC. Btw about BCHA, do you will it will be like BTC and BCH in the future? Just the same with other fork that didn't really bloom that much.. If so, i guess it's good to buy more bcha now that the price is still low..

$ 0.00
1 month ago

Nobody knows what the future holds, but I think BCHA is the coin with the most potential.

$ 0.00
1 month ago

But we can't buy bcha for now right?

$ 0.00
1 month ago

Check your bch addresses (for example your read.cash address). You will certainly get BCHA with BCH.

https://blockchair.com/search

$ 0.00
1 month ago

hi. will that work in any wallet? even custodial ones?

$ 0.00
1 month ago

This is independent of the wallet. Your bch and bcha are not stored in the wallet, but in the Blockchain. Read my article

https://read.cash/@Telesfor/how-does-bitcoin-cash-wallet-work-7c14aab0

$ 0.00
1 month ago

Thank you sir.. So even our bch on readcash have bcha as well.

$ 0.00
1 month ago

You can buy on plenty of exchanges. Coinex is one.

$ 0.00
1 month ago

I have on binance . but it is not clickable yet.. I mean the name BCHA is not clickable.. So i don't know its value..

$ 0.00
1 month ago

It's must be ok now. Cause I can see it on binance. You can try and check it.

$ 0.00
1 month ago

Ok thank you 😊

$ 0.00
1 month ago