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Why I Sponsored BitcoinABC

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Avatar for ericreid9
Written by   46
1 year ago

It's been a crazy time in the Bitcoin Cash community. As a long time observer and someone that wants to see peer to peer cash succeed, it has been a trying time for years now.

In this post I try to explain why I sponsored BitcoinABC, supported other node projects and my view on the current state of Bitcoin Cash. I'm sure some will see this as potentially controversial, I'm the opposite: I generally don't like conflict, but feel the need to share my views to be a responsible and communicative community member.

The Past

First, peer to peer cash was hi-jacked and subverted on BTC. Through censorship and intimidation, we ended up with digital gold. Digital gold isn't necessarily a bad thing, but its a far different path than what Satoshi proposed with creating a token used for casual transactions. BTC went from a fairly proven and low risk project to extremely high risk in my opinion relying on an experimental fee market and the lightning network. As fees rise, more UTXOs will be unspendable as the fee will be higher than the output amount.

BitcoinABC

I admire BitcoinABC for the following:

  • Making BCH exist - I watched over the years as many implementations attempted to get majority hash power with BitcoinXT, Bitcoin Classic and Bitcoin Unlimited. With Bitcoin Unlimited it was extremely close during the miner voting of 2017, however a few crashing bugs were found and exploited and pretty much ruined the possibility that billions of dollars of Bitcoin should rely on the code. While I would have preferred that large blocks became the standard on the majority chain, I'm content with at least having a functioning large block minority chain (minority for the time being I hope).

  • Sticking with it - How many projects come and go in crypto and technology in general? The fact that BitcoinABC has consistently stuck with the project for almost 3 years and maintained/updated the code goes a long way. It's easy talking a big game, but sitting at your computer hours and hours per week fixing tiny bugs isn't much fun or glamorous. But it's required to make the system function. Many people forget that successful projects/companies are a marathon and not a sprint. Simply keeping going and making progress for long periods of time usually adds up.

  • Dealing with crap - There is a nearly unlimited amount of fighting, disagreements, opinions, egos, emotions that happens in any project. However crypto has its own issue now that there is big money involved. Now that stakes are 10x higher as the interests grow. Clearly Mike Hearn, Gavin Andresen, and many others decided that there was too much emotion in being involved with the project and it was easier to take a quieter approach. I totally appreciate their conclusion and don't fault someone for not wanting to constantly be at the center of the arena.

  • Semblance of a roadmap - I like there's been some clear goals and trajectories over the years on the ABC roadmap. For me all three pillars are key: scaling, speed, and more features. I appreciate the organization's vision for electronic peer to peer cash generally matches my own.

Jiang Zhouer from BTC.top introduces the IFP in January 2020

Funding

With ABC bringing the issue of the Bitcoin Cash Infrastructure Funding Plan (IFP) to the forefront, I think it was helpful for the community. Many think it's a miner tax and would be wasted by an opaque, bureaucratic organization. It's definitely a concern for me as well. However the question remains, how to fund a group of developers?

We could rely on venture capital (VC) funding the developers like Blockstream, but then their interest is no longer with the network but with them selling their Tabware software. So what are the choices:

  • Block subsidy

    • Pros - Ensures the developers have a consistent funding stream

    • Cons - Could be considered a tax. Are there checks and balances to ensure the money is spent properly? Who exactly decides who gets the money?

  • Voluntary contributions

    • Pros - Supports the voluntary spirit which I very much enjoy. Allows hard work to be rewarded with funds

    • Cons - Unreliable. Turns into the free rider problem where some people will contribute but others will be free riders and enjoy the benefits others have contributed.

  • VC money

    • Pros - Lots of money

    • Cons - Extreme conflicts of interest. Are you in it for the greater good of the network or the benefit you can derive for your company and investors?

Buying a Personal Sponsorship for BitcoinABC fund.bitcoinabc.org

My Actions

For me the IFP was a wakeup call that I, an interested member of the community, should do something. Sitting on the sidelines hoping that things will work might not be enough. In the past few months I've done the following (dollar values at approx. time of transaction)

Total in the past few months: ~$1,250

My Impact

Honestly I have no idea. I'm not in the middle of all the Telegram groups, Twitter messages or other communication circles (nor do I really want to be). But since I BitcoinABC brought the funding issue rightfully to the forefront, I decided I had to try to at least do my part to fund many of these talented developers.

Certainly it's nothing compared to the financial contributions of Marc De Mesel, Roger Ver or other large BCH holders. However it seems that everything adds up. If I contribute, hopefully it will encourage others to also contribute their funds, time or energy. We are a community pushing for a similar (I think) goal. So all contributions add up. And hopefully by writing an article outlining my thoughts it would encourage others to contribute in whatever way they find meaningful (i.e. financial contributions, building their own software, creating content etc.)

What's it in for me?

I don't have a website or YouTube channel that I'm promoting, so nothing directly. However I take a look around and see the following:

BTC - If the blocksize had been raised in some reasonable manner, we'd really be in a king BTC world. Crypto transactions large and small would flow through this one network and we'd be on the way to a real international world money. For reasons that I would describe as a combination of greed, fear or could be described as external meddling took it from something extremely sound to something experimental.

When I recently asked an extreme BTC supporter that if BTC doesn't currently function as described in the white paper "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" then what is BTC?

His answer caused me to laugh so incredibly hard. He said BTC is based on a "shifting social consensus." I mean, what does that even mean? What is the rallying point or goal of BTC? If something like BCH can be both a store of value and a payment system, why does BTC need to exist?

BTC Lightning - After lots of thought and consideration on lightning in 2016/17, I read Jonald Fyookball's Medium Post Mathematical Proof That the Lightning Network Cannot Be a Decentralized Bitcoin Scaling Solution. The question I have posed to many BTC Lightning supporters that I met over the past 2 years has been:

"If fees go to $1,000 per transaction like many BTC supporters hope, then will the average person open one/many lightning channels? And if they don't, won't they just deposit their funds in a giant lightning hub like Coinbase, Chase, Binance etc? If the user deposits fund, doesn't that just lead us back to Banking 2.0?"

I still haven't gotten any answer to that other than "Lightning is early, it will improve." I hope so, lightning seems like it will just become centralized in giant hubs at its extreme conclusion.

ETH - Could be king of the hill, but completely based on ETH 2.0 working. I've been hearing about the switch to PoS for Ethereum from the very first day I heard about ETH in ~2015. Here we are 5 years later and it's still potentially moving in that direction, but years off. Also ETH suffers from a non-fixed supply which has been inflating much more rapidly than BCH.

However Ethereum is having tremendous success recently with

ZEC/XMR - Real competitors if they can handle scaling. However not knowing if there is an inflation bug is a serious crimp on their utility. Perhaps I am wrong on this. Also governments will probably try to keep the influence of these coins lower.

Every other "new" coin like Avalanche, Polkadot, Algorand, Cardano, Tezos, EOS, and every other Blockchain 2.0/3.0/4.0 coin - Honestly I have no idea. Crypto "geniuses" keep releasing new coins on new technologies every 6 months or so. Do these make sense or work, are they the future? I don't really know enough to say.

Other Bitcoin Cash Projects/Implementations

I want to recognize the amazing work of so many other individuals/groups other than BitcoinABC. While I've taken the time to say good things on ABC, there are many many many in the BCH ecosystem that are making incredible contributions. Calin Culianu from Electron Cash, Jonald Fyookball, Chris Pacia from BCHD, FreeTrader and Imaginary Username from BCHN, the many contributors to Bitcoin Unlimited, the Software Verde team for writing a BCH spec, Vin Armani of CoinText, James Cramer for work on SLP, Corentin Mercier for many contributions and to Flipstarter.cash crowdfunding and countless others that have been involved in making BCH into peer to peer cash the world needs.

A classic comparison of Western Union and Bitcoin from back when BTC transactions were roughly only $0.01 to send.

Why Peer to Peer Cash

It's a true modern miracle. For a very long time currencies (other than gold or certain commodities) have been tied to a government (Roman, Spanish, British, American, Japanese etc).

For the first time in history, the past ten years has given mankind the opportunity for a world currency that isn't sponsored by a government that can't be inflated, seized, censored or taken away. This is an enormous improvement for people around the world. Instead of spending enormous fees on Visa, Mastercard, PayPal, Western Union, banks or other intermediaries, people can directly transaction with each other anywhere in the world for an incredibly low price. This is powerful and amazing.

Product/Market Fit

In startup terms, any product needs to have something users want. I can see some of the product/market fit that other coins have

Bitcoin - Store of value. If it works, the concept is useful if can save money that isn't inflated away.

Ethereum - Non-fungible tokens, decentralized finance, decentralized autonomous organizations.

Privacy coins (ZEC, XMR, etc) - Keep your transaction's info limited to you and your counter-party.

Stable coins (USDC, DAI, USDT, USDH, etc.) - Ability to send fiat cheaply, internationally and quickly.

Bitcoin Cash - I'm starting to question if there is truly a desire/need for peer to peer cash? I originally thought so and still think so.

  • But are people truly dying to pay with a non-governmental token or do people simply want crypto stable coins?

  • Will Bitcoin Cash taken over the "store of value" from BTC?

  • Will ETH 2.0 allow scalability on ETH and simply make Bitcoin Cash a weaker subset of uses than ETH can provide?

  • Is there another use case where BCH is superior that hasn't started working yet (such as the Stamp encrypted messaging system)?

  • Why haven't daily transactions picked up much? Meanwhile ETH transactions are nearing record levels.

  • Did peer to peer cash have its chance? But as peer to peer cash in the form of BTC got derailed, will a 2.0 blockchain now take the mantle?

  • Is Avalanche or nearly instant final settlement the killer potential feature of BCH? Or does its design violate the PoW principles of BCH?
    I heard grumbles from a friend who is a neutral-BCH supporter recently. He received a payment that took forever to confirm due to the DAA. Safe to say he didn't have good things to say about using BCH as a reliable and fast payment system. He said just use ETH, it's fast and still relatively cheap.

Path Forward

It seems to me we have to make a general choice as a community

  • Have someone/a few people in charge that overall makes the best decisions they can and the community can generally rally behind.

  • Have proposals that are voted on the blockchain and that vote actually implements the the new code as I've seen on compound.finance and I believe how Tezos works. Then everyone gets to vote based on some system. Then after a vote occurs we all agree to embrace it and move forward.

I know infighting will only lead us to an endless loop of:

  • Debate

  • Ego & emotions

  • Pain

  • Threat of splits

And any threat of split will hurt:

  • Adoption

  • Price

  • Brand perception.

And that's exactly where we are and continue to be today. The BSV split took BCH, which had a fighting chance, and reduced its stature and brand significantly. If we have another split, I think it would be nearly game over for any chance of creating peer to peer cash in the form of Bitcoin Cash.

What We Need

The one thing BTC got right is stability. Stability could have happened by adopting the adaptive blocksize proposal from BitPay back in 2016, which would have set a sensible path for an increased blocksize going forwards.

Instead, BTC decided that by changing very little and in my opinion basically giving up saying "it works, don't ever mess with it else we might break it." In a sense it's good that nobody can change it, but also the only way to keep competitors in check is through fighting them through other means.

BCH needs stability for

  • Holders to feel comfortable that adoption will continue and price will hopefully gradually rise.

  • Holders to believe another split won't cause them an enormous tax bill (see #5) in the US.

  • Exchanges not to worry they will have to deal with the headache of another hard fork and distributing coins.

  • Merchants knowing BCH is money that won't change tomorrow.

  • Developers making new apps/games/payment systems feel comfortable the system is stable and will endure the coming years.

I don't really know the best solution. But I do know that constant fighting won't get us to worldwide uncensorable peer to peer cash.

Conclusion

At end of the day I appreciate that BitcoinABC has done a lot to bring us where we are today. So coming back to the article title: "Why I sponsored BitcoinABC" the answer is I feel the need to do something if we collectively want to make peer to peer cash happen. Is it the right or best move? I have no idea. But it certainly seems better than doing nothing. And it seems we need to rally around something and BitcoinABC has been seemingly technically competent so far.

As an ordinary user, I can contribute to developers/causes that seem worthy and be part of a hopeful solution. It seems better than being a mere bystander that only hopes for a certain future but does nothing to promote it. If we don't work together to make this dream a reality, I feel we should all just our support behind Ethereum or another coin and move forward to making peer to peer cash happen one way or another.

This article isn't for me to "prove" any strong points, its more of an exploration of my thoughts and the current state of Bitcoin Cash as a long time observer. Feedback and thoughts on points I raised are indeed welcome. Any thoughts or viewpoints that I'm not considering are useful as I think through the potential futures of Bitcoin Cash.

Eric Reid
July 5, 2020

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$ 11.24
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Avatar for ericreid9
Written by   46
1 year ago
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Comments

By supporting Bitcoin ABC you are an accomplice in trying to destroy the voluntary donation business model of Bitcoin Cash, as this is what Bitcoin ABC is still trying to realize to this day: implementing a devtax. This would destroy the project as many idealistically driven users and investors would leave and BCH would lose ranking at rapid pace.

If you want to build a successful business, you cannot be embracing all initiatives and be friendly to everyone. You have to fight every day to protect the value you create and get rid of people that are trying to take more value than they give. You have to take the right strategic direction and be ruthless in cutting losses.

Amaury Sechet and his Bitcoin ABC team has done some good things as you point out, but has also caused a lot of damage, which you do not point out. Quality developers and projects have been pushed away due to his arrogant and closed approach. He was even so self righteous to criticize Roger Ver many times and openly threatened to sell project to VC's if he didn't get more money.

Please check last part of my interview where I explain why voluntary business model of Bitcoin Cash is crucial to preserve and our best chance to succeed, starting at 25 min: https://open.lbry.com/@ScottCBusiness:4/read.cash:3?r=BoqsrdP6hY4S3cNB98vDc4NponDZzWfR&t=1500

$ 0.25
1 year ago

Thanks appreciate the thoughts. Will check out your interview.

You've certainly contributed a ton monetarily and philosophically to Bitcoin Cash, so will definitely take the time to learn more where you're coming from.

$ 2.00
1 year ago

Nice, u made good job 🥰🥰🥰

$ 0.05
1 year ago

Thanks!

$ 0.00
1 year ago

Tnx, for upvote 🥰🥰🥰

$ 0.01
1 year ago

I'm a fan of #BCH also and I am still Reading it right. It's amazing to know more people that into Bitcoin Cash.

Thank you for this awesome articles sir.

$ 0.05
1 year ago

Much appreciated! Felt good sharing my thoughts and views. Glad it could help encourage you a bit as well.

$ 0.00
1 year ago

Wow thank you Erik for this article, you sharing your thoughts about BCH. I'm a fan of it. That's why I enjoyed reading about BCH. BCH for the win🙏👏😇

$ 0.05
1 year ago

Thanks Mark! Wanted to share some brief thoughts to get them out there. Glad you enjoyed and feel free to post your own articles, projects, and thoughts as well. Good for us all to share

$ 0.00
1 year ago

I gathered some interviews sir to the expert of BCH to learn more and inspired others.

$ 0.00
1 year ago

BCH for the future

$ 0.05
1 year ago

💯

$ 0.00
1 year ago

I loved your article and you have trust on the projects you support I wish more people could have your vision and fund project because their believe not because they want to show up themselves, great article!

$ 0.05
1 year ago

Thank you! Indeed hopefully everyone can give a little in their own way, whether it be financially, technically, through content or another way.

$ 0.00
1 year ago

Yes, something that evolute minds is giving to things that believe no matter right or wrong but the purpose is to support with not being asked in return, good job🙌

$ 0.00
1 year ago

Wow! such a well written article.
Thank you Eric for sharing your thoughts.
I share most if not all of your ideas about BCH and remain very optimistic for its future.
Lets all make it happen.

$ 0.05
1 year ago

Thanks Omar much appreciated! Wanted to share my thoughts and actions. Maybe will help encourage others to take some action they've been putting off as well.

$ 0.00
1 year ago

Wow nice article i learned a lot from this

$ 0.05
1 year ago

Thanks!

$ 0.00
1 year ago

Thank you for sharing about this sir. I learned a lot in your article and you have a good point. Kudos sir! Godbless

$ 0.05
1 year ago

Great glad to hear it!

$ 0.00
1 year ago

Wow I didn't even know about this , I'm a fan on bch also , compared to other Crypto if I choose I prefer to choose bch, when you transfer your bch to another wallet it is so small fee and very fast. Im new in Crypto and now I have 0.19 bch in my wallet. I don't want to sell them I want to keep them. So that's why I'm here at readcash to earn some bch Thank you for this informative article. It very helpful to us.

$ 0.10
1 year ago

Awesome! Welcome and glad you have some BCH. Indeed the purpose is to be used as peer to peer cash, so fast and cheap is the name of the game. Glad the article could help you some!

$ 0.00
1 year ago

Yes thank you so much for the upvote

$ 0.00
1 year ago

Thank you Eric, we are very grateful for your sponsorship. We really appreciate it, and will put it to good use.

Important to keep in mind that this is the Bitcoin Cash roadmap, not the ABC roadmap per se.

https://www.bitcoincash.org/roadmap.html

Another pro of a block reward funding mechanism is that it most closely aligns the incentives of development groups with the network as a whole.

Thanks again!

$ 0.20
1 year ago

Thanks George! Looking forward to a bright future of peer to peer cash

$ 0.00
1 year ago

Great article. I'm Crazy about #bitcoin

$ 0.00
1 year ago

Thank you!

$ 0.00
1 year ago

BCH is our future ♥

$ 0.00
1 year ago

You wrote a really great article sir.

I am very interested in #BCH and would like to know more about it. Thank you for providing this information and for giving everyone a wonderful writing gift.

$ 0.05
1 year ago

Thanks for the good words!

$ 0.00
1 year ago

Sir, you're most welcome ♥

$ 0.01
1 year ago

Sir thank you for sharing this article regarding bitcoincash. It really helpful to me especially I'm starting to research more about bitcoincash for me to familiarize my self with it. I'm subscribe you and hoping for more articles about bitcoincash.

$ 0.05
1 year ago

Thank you!

$ 0.00
1 year ago

Good article!! It encrease my knowledge a lote. Keep writing more

$ 0.01
1 year ago

Thanks!

$ 0.00
1 year ago

Thanks for contributing and keeping it positive.

$ 0.00
1 year ago

Thanks and appreciate the upvote of the post!

$ 0.00
1 year ago

Thank you for this very helpful article sir. Thank you also for sharing your knowledge about BCH, I have learned a lot. And I enjoyed reading your article so much!

$ 0.05
1 year ago

Great glad to hear it!

$ 0.00
1 year ago

Before , I dont know what is BCH until I signed up here and got curious about BCH. Now I am eager to know it more.

$ 0.05
User's avatar Yen
1 year ago

Thanks for learning! Hopefully it will become the peer to peer cash of the future.

$ 0.00
1 year ago

"I'm starting to question if there is truly a desire/need for peer to peer cash? "

Thanks for your support of BCH. I do agree we have issues with infighting and are weak and vulnerable to further community splitting attacks like BSV. I know the social engineering army tells us we are unpopular and unneeded every day. They tell us our current low transaction use levels show the world has made their (permanent) decision not to use it. I think you should keep up your faith that the people of the world will adopt at least one p2p cash.

The trolls are lying and that is pretty obvious. Their masters are scared of Bitcoin and do whatever they can to delay it. BCH is not really mature enough to "go viral" yet, but, we are close. I think we just need the ability to scale for massive worldwide adoption to become "Bitcoin". Once we are ready, it will only take one killer app, "bull run" or other impetus to make BCH spread like wildfire.

There is a chicken and egg problem at the moment. Until we have massive users, we will have trouble getting massive business adoption. Until we have massive business adoption, it will be hard to attract massive numbers of users. So, I see no reason for concern about low usage. That is to be expected until we break out like BTC tried to do in 2017. We just need to keep building and be ready for the wave like BTC was not. Once we start to grow, we will outgrow BTC by orders of magnitude since it can't follow the trajectory we can achieve. I think it is just a matter of time and all the building helps prepare us to provide the wave of users and businesses with a great user experience. I think it is all good and that we needed the time to prepare.

$ 0.15
1 year ago

Thanks for all the good thoughts. I updated the post clarifying the grammar a bit. Correct I've been questioning if people really want/need peer to peer cash. Or are they content with Venmo, Square Cash, fiat and trading/lending with DeFi on Ethereum.

Indeed I agree that Bitcoin Cash is definitely building right now. I look at what's happening and clearly there is massive technical development going on. And the capacity will hopefully grow by orders of magnitude.

With your thought of chicken and egg seems right. What can I buy if no one accepts it? If a big use case comes, I'm hoping you're right and BCH is ready to take it. Right now BTC is super experimental in my opinion hoping that users stick around and deal with the "fee market."

$ 0.00
1 year ago

I edited mine to match your edit :-)

One big change that might come is if BCH were to join forces with and be accepted for funding venmo, we chat, apple pay, google pay, square cash, ... I think some of those may be just a matter of time as well. If it happened, it would be like instant massive adoption.

$ 0.05
1 year ago

Sweet :) That's a good point, didn't think of it quite that way. Acting as a fast and cheap bridge between traditional finance and crypto would be quite interesting and a giant boost.

$ 0.00
1 year ago

The problem I see within crypto is that there are too many coin projects and new projects being created everyday. I understand creation is a good thing, but it's also a bad thing because it causes people to sell their BCH supply (or other coin supply) in order to buy the new coin project. Each new project is just a money printing machine and causes Fiat to be spread among so many coins that the top coins are becoming a lower amount within someone's investment portfolio. I was only holding BCH, but then there was so much talk about Tezos and Ethereum, that now I am diversifying into multiple coin projects, instead of just BCH. Many other people are diversifying as well, which is spreading the Fiat around the world into thousands of crypto projects, and not just BCH or BTC. Less money will flow into the top coins as more coin projects are created.

$ 0.10
1 year ago

A very good point. As there are more crypto choices that seem to continually pop up, money is getting spread around.

I think maybe at some point there will likely begin a consolidation where it might not make as much sense to start a new coin project and then money will start to gather in the top handful of coins.

$ 0.00
1 year ago

Thanks for responding. What I've realized is that it's becoming so easy to create a new coin, as well as a token on Ethereum and now we have SLP tokens that are created with just a click of a button. Each person in the world could easily own their own coin or token for free. The good part is, the Exchanges don't take every coin. So it's up to them to prevent new coins or scam coins from getting attention. But still, people will always try to get rich off creating and selling coins.

$ 0.10
1 year ago

SLP can potentially become a big thing. If you look at https://ethgasstation.info you'll realize it's generally fairly expensive lately to send ETH tokens. It can be $0.15-$0.25 a lot of the time. So SLP can be a serious competitor for tokens if people feel there's enough stability to build using it.

$ 0.00
1 year ago

In short, cryptocurrencies are the genius of man in its maximum expression, since it unites between two pairs, and due to experience and financial relationships, we can carry out peer-to-peer transactions, with very cheap costs and a time of Very fast execution, which makes them the most sought after in the field of inter-human relations.

$ 0.01
1 year ago

Cryptocurrencies are definitely a big innovation. Only time will tell how they impact human behavior!

$ 0.00
1 year ago

Bitcoin ABC id a lot of great jobs and a lot of great damages, Take tome to search more sir, Ask MarcDeMesel, micropresedent and some people here on what they did, And yeah great article just mind on the damage they did don't stick on what the good did always.

$ 0.05
1 year ago

Thanks for the thoughtful response. Will certainly do more researching and thinking after this article.

$ 0.00
1 year ago

Knowing and learning about BCH is very hard, for just a month of engaging on BCH i see a lot of misconception from where i thought it's only Bitcoin Cash. However as I am on my process of getting information, I have known about Bitcoin ABC, which i think is different from Bitcoin Cash, correct me if Im wrong. This funding of Bitcoin ABC can be a great move to enable a lot more opportunity and it is something that we can look forward to as a project. Thank you for this!

$ 0.10
1 year ago

You're right it is complicated. Bitcoin Cash is the coin while BitcoinABC is the reference (as of now) node implementation of the coin. Thanks for taking the time to learn.

I think everyone in the BCH community is looking to create/grow something that gives uncensorable financial freedom to those around the world.

$ 0.00
1 year ago

Thanks for this!!! I see now why there's a lot of debates and ongoing opposition between every party. However I believe in BCH and I salute the developers of Bitcoin ABC, like Amaury Séchet, since their team or he made things possible happen in BCH.

$ 0.10
1 year ago

Thanks for taking the time to be interested and study the background of Bitcoin Cash. Many crypto users take things at face value and don't look further.

I wrote this article so people like @MarcDeMesel and others could show me places I'm not thinking about things correctly. I want to see more perspectives, so it seems putting my thoughts out there is a great way to do it.

$ 2.00
1 year ago

Yes sir, that was a good article and as I can observe, many liked it, and you should also be happy about that, including me, youve imprinted a new knowledge to me. I hope to see some of your articles soon. Also you're so very generous!!!

$ 0.05
1 year ago

Thank you! Have a great day and keep thinking how you can use, develop on or make content for peer to peer cash.

$ 0.00
1 year ago

Yes sir, I am very much open to learning and developing my craft so that I can also share it to my followers. Thank you so much!

$ 0.01
1 year ago

Thank you for this! We really need focus, dedication and most especially patience to understand this. It may be complicated at first but through time and helping hands we can build stronger system with this. Thank you for supporting BCH. We should really look forward for this could be a big thing in the future!

And now, sharing your knowledge about this is a big thing too! Thank you for making this and let's all support each other for future endeavors :)

$ 0.05
User's avatar JL_
1 year ago

Thanks JL! The concept of a non-governmental money is quite complicated and new. How to set up our own governance for the monetary structure is indeed quite the question.

$ 0.00
1 year ago

Yess and it really takes time because this is so broad. There are lots of improvements that are coming and even this platform is new, we can create firm governance with this. Thanks for being one of the strategic guide for us learners :)

$ 0.05
User's avatar JL_
1 year ago

We are all trying to figure it out together. Stay proactive and keep asking questions/making useful contributions.

$ 0.00
1 year ago

Thank you! I am thinking of how people can reach this easily and understand this as a whole. More audience or more reach, the more knowledge and improvements. Thank you again sir :)

$ 0.01
User's avatar JL_
1 year ago

I've done a lot of research about BitcoinABC yet, this helps me a lot to fully understand it from the past background of it. Kudos to the writer. I've learn a lot from this. Now, I'm having thought of investing a huge amount in peer to peer cash since you pointed out a good future of it lol.

$ 0.02
1 year ago

Thanks glad I could help a bit!

$ 0.00
1 year ago

I'll share this article of yours to other blogging platform. It was really direct to the point. Every new person in crypto world must read it to fully understand it.

$ 0.01
1 year ago

Thanks!

$ 0.00
1 year ago

Thank you so much more than I can say. Thanks a lot sir for your kind information. It will be very very helpful for all of us sir. Your article is very important and so informative. Keep writing. God bless you always. Best wishes for you.

$ 0.01
1 year ago

Thank you!

$ 0.00
1 year ago

It's completely my pleasure sir. Everybody has so many sponsor, but I don't have any sponsor yet. I wish I had a sponsor like others. I have a small req to you sir. If possible, please sponsor me sir. I'll be grateful to you always.... 😔

$ 0.00
1 year ago

Thank you for sharing about your kind work. I really appreciate your Great work. I think you keep up your contribution. Now me also fond of BITCOIN CASH. I will try to store some bch. Also i try to buy some. I wanna invest but my amount is too short so i am waiting for much amount. I am also a student so i cannot buy more BCH at this Stage. I hope you plan gonna be success in future and never give up your contribution. I hope one day @Bitcoincash will be the top crypto in future @ericreid9 . In this read.cash @marcdemesel doing a great job.He increase the @read.cash fund too high. So read.cash doing their great job tension free.
Eric your plan are also great i hope your plan gonna be success. Don’t worry. Just wait see. Bitcoin cash grow up.

$ 0.00
1 year ago

Thanks for this. We are really appreciate for this.It is very important.It is the Bitcoin cash roadmap.

$ 0.05
1 year ago

Thanks!

$ 0.00
1 year ago

Welcome bro

$ 0.01
1 year ago

Thanks bro for you upvoted me

$ 0.00
1 year ago

I'm new in read.cash You are doing good job. It is very important for us. We are appreciate for this.Thanks for your good work. It inspire me and also who are new in read.cash Thank you.

$ 0.01
1 year ago

Hi Eric. I finally got to this in my mountain of tabs and read it. Great article. I personally think it is unfortunate that you choose ABC (or BCHN or BCHD or whatever - it doesn't matter) as the rallying point for BCH... rather than BCH itself... because your actions and words show that you are promoting BCH. The nodes are just one piece of the ecosystem.

I just want to say a few things in response which I will put in separate comments.

$ 0.00
1 year ago

(specific points)

  1. Stability is good to the extent that it does not become stagnancy. From where I stand, BTC did not in fact get this right - we knew at the split that BTC had taken the stagnant path. We should not let the same happen to BCH and we should also not be making wild changes that make it impossible to keep up with.
$ 0.00
1 year ago

(specific points)

  1. Internal conflict is also not something to avoid a priori. In the case that you judge a leader or other entity that has an influence on BCH is making choices that will seriously damage BCH's chances to reach global adoption, it's not best to just go along. Have to choose your battles though right? Additionally, good leaders encourage a constructive approach to conflict and resolution so that it does not become infighting. This is currently a weakness of BCH overall.
$ 0.00
1 year ago

(specific points)

  1. "Bitcoin Cash - I'm starting to question if there is truly a desire/need for peer to peer cash? I originally thought so and still think so."

I like the points you bring up. I see the value to humanity as immense and the road to realizing that value as uncharted and unknowable at the current time. So yeah like you suggested - we still must be experimenting with use cases to find the way there. From my perspective, the one thing that we have to guard incredibly carefully is BCH's permissinless nature. So many of the properties that make BCH actually unique flow from that. Cheap and fast are necessary but not at all sufficient.

$ 0.00
1 year ago

(specific points)

  1. instant transactions Your friend needs to learn about 0 conf unless they were sending you a giant stack of cash :P But seriously regarding avalanche, it's a neat idea and might work out but it has important open questions that are unanswered. Long-standing unanswered questions like that typically point to difficult problems and especially because it is clearly touching on or even tangled up in POW and fundamental incentives, avalanche deserves a very critical eye. There are also other potential solutions to the goal of instant transactions that should be considered carefully.
$ 0.00
1 year ago