Bitcoin Cash BCH is king.

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Avatar for francis105d1
1 year ago

Bitcoin Cash is a peer-to-peer currency created by Satoshi Nakamoto back in 2009. A peer-to-peer currency is money that can't be printed by any third party, including any government. It is a currency that a natural person can use on a one-to-one basis. What gives value to a peer-to-peer currency is its users that congregate on either a centralized exchange (coinbase, Gemini, and others) or p2p exchanges, like local.bitcoin.com. The network doesn't need a third party to confirm transactions. A decentralized network of nodes and miners does that job in a decentralized way. It is decentralized because each node and miner is located in many places around the world, and if you remove one computer, the others keep working as if nothing happened. That is decentralized.

Peer-to-peer currencies like Bitcoin Cash have a limited supply of 21 million units. Your holdings will grow against fiat or government currencies because governments print without restrictions. You, the regular citizen, end up paying that printing in the form of inflation where your savings go to waste. And once the whole world runs only on peer to peer to currency, it will be like living in a standard gold economy, where businesses will have to make better products that last and are cheaper. It will hold your purchasing value; unfortunately, not many understand what a standard gold economy will look like because that's not in the interest of many that benefit from you losing your purchasing value.

You may think that Bitcoin Cash BCH is a fork of Bitcoin, but it is not. That is part of the Bitcoin Core BTC government sympathizers' successful attack against Bitcoin BCH. Bitcoin Cash suffered a successful hostile takeover by government sympathizers and agents like Blockstream that have taken the name Bitcoin, but they are not Bitcoin. From 2017 to 2018, Bitcoin was divided and successfully attacked by a group of people who wished to see Bitcoin not as a peer-to-peer currency but more as a speculative asset. Bitcoin Cash was forced to change its name and a market ticket to protect the Bitcoin name and its original vision of peer-to-peer currency.

Bitcoin Core BTC is the fork of Bitcoin because they don't comply with the Satoshi White Paper ideals of Bitcoin being a peer-to-peer currency. So they have invented the narrative that Bitcoin Core BTC is a store of value, which it isn't because you can't be a store of anything if the poor can't use it. As I write this article, an average transaction costs between $2 to $18, meaning that the poor can't participate. If you only have $18 in your pocket, you can't use the Bitcoin BTC store of value narrative, and that is by design. The attackers are trying to make the transaction go up in price. People are forced to use custodian services, creating the need for third-party custodians that will charge you very little to move your money between or inside their services. It will complete the demand for Bitcoin Banks and their benefits. Bitcoin Core BTC supporters believe that if they make banks useful for Bitcoin, the banks won't ask for a government ban or heavy regulation for cryptocurrencies.

Bitcoin, like Bitcoin Cash, has the same 21 million total supply. The only difference is that once you only use custodian services to transact or Bitcoin Banks, those institutions could print either fractional reserve Bitcoin or outright print Bitcoin. You, the user, will not know if you are getting published Bitcoin or not because all will happen within their services which you, the regular person, won't be able to audit. The government will marry these new banks because it will mean that they will benefit too from the Bitcoin printing. The people who are already rich today will also benefit from Bitcoin printing by banks in the same way they profit from the inflation of your dollars today at your expanse.

Yes, the actual Bitcoin is Bitcoin Cash, and it is not a fork of Bitcoin. Bitcoin Core BTC is a fork of Bitcoin because they have abandoned the peer-to-peer vision while attacking the real Bitcoin, Bitcoin Cash, which prefers to be a peer-to-peer currency for the rich and the poor. You can bank the poor with Bitcoin Cash with just as little as $0.01. That person will have hard money that no one can take away and can't print out either because users can send their transactions on-chain where everyone can verify that only 21 million coins are printed because the layer is public. You can see it and verify it for yourself.

Bitcoin Cash is Bitcoin because it tries to be helpful as a currency first and a store of value second due to being a currency in the first place. It is not a fork because it is faithful and loyal to the White Paper description. By to way, Lighting Network doesn't help either because it is three fees in one, opening and closing fees plus routing fees, which will also go up because routing liquidity providers want more for their parked money. Using LN custodian services like wallet of satoshi service uses another PayPal or your local bank services with even more risks.

And Bitcoin Core BTC are government sympathizers because they believe the rich and powerful won't ask the government for heavy regulations if they get to benefit from Bitcoin as they do today from your local currency fiat inflation.

I have a Lightning Network node with two channels that cost me 0.0002 BTC to receive 0.014 in liquidity and routing fees on an incoming liquidity channel. You must pay premium rates because you are not locking up your Bitcoin. Routing fees can be much higher than on-chain fees. Incoming channels solve the problem of not having enough or no liquidity because the balance is all on your side, but it is at a hefty cost. When it comes to Bitcoin BTC, everything is just a costly endeavor, with enough lies to make it look cheap, but you only find out after you use the tools, and if you complain about fees, you will get banned and called names.

Indulge your eyes in the reality of Bitcoin LN fees.

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1 year ago

Comments

I can't understand how nodes works, but yeah I agree BCH is the one complying what Satoshi Nakamoto written on the Bitcoin white paper.

$ 0.03
1 year ago

You should learn and make the effort to learn how LN works so that you can understand better BCH, and maybe you find out new things. A private node with centrino is a simple starting point

$ 0.00
1 year ago

Even if I want to, I don't have the materials yet or the things needed to start up, but hopefully maybe soon.

$ 0.02
1 year ago

I decided to close all of the channels coming from incoming liquidity services and connect to other channels that are much cheaper, according to some #Bitcoiners.

I close all the channels and pay around 2k satoshis for closing and opening the new channel. Mind you, and the channel is only worth 0.002 #BTC.

Since I like #Sovryn #SOV, I decided to send the funds to the #Bitcoin #sidechain utilizing #fixedfloat #exchange, and the fee came cheap only 2.5 satoshis. But sending about the same amount to Wallet of Satoshi would cost me around 100 satoshis.

In conclusion, regardless, you will be looking to pay at least 50 satoshis or more for most transactions, and you will be fortunate if, once in a while, you end up with a genuinely cheap transaction.

So cheap transactions will not always be reliable, and most of the time, you will end up paying a high fee.

Even when I went to the trouble to open a channel with a cheap routing node, according to some Bitcoiners, some of my future payments will be as expensive as the previous rates on my premium channels. Lightning Network is becoming just another fee racketeering fee structure that doesn't go to miners but to developers and people with money.

BitcoinCash #BCH #defi #LN #lightningnetwork #Bitcoin #BTC #SmartBCH

https://noise.cash/post/lrgjq8m8

$ 0.00
1 year ago

Well, I am experimenting with it, and I will post it on noise cash for fast updates, but in a short, while I will create an article too, so you could learn from my experience, but it is always better to practice on your own.

$ 0.00
1 year ago