Message from Tanner - SC in MacGuyver - Skills & Academics #cryptocurrency
Will my transaction ever be done
its why we use localbitcoins or localmonero or any of the other local[insert coin here] sites
It takes a while to receive crypto because you sent a USD transfer to them, which takes like 4 business days and can be reversed, which is a risk for them. They plan to send you crypto, which is instant and irreversible. So they’re not going to give you the “guaranteed” money until the “maybe” money you sent them settles out.
@this_that5553 is BCH just Bitcoin with faster and cheaper transfers?
Yeah basically. The website explains it
I actually really like bitcoin cash and their phone wallet
@this_that5553 sounds like what bch did. though in this guy's version he divies up Satoshi Nakamoto's coins too
Yeah idk. If there’s gonna be forks left and right, sounds pretty bad for the future tbh
I have a feeling these at least one of these changes will be incorporated into Bitcoin core, it will solve the current transaction problems with bitcoin, and the alternative forks will fade into obscurity, but at least now they provide the competitive pressure to cause btc to innovate
Although because the forks keep the current block chains up until their fork, the controllers of btc are effectively in control of the forks too
I think the bitcoin core team will ultimately be pressured more by the general public's inability to use btc in everyday commerce rather than by any pressue from altcoins
I’m not concerned about the number of forks. There are 5,000 alt-coins and that’s fine, there can be 5,000 forks too.
I’m confident that BCH is the future. Segwit was originally created so as to slightly increase tx capacity without increasing block size. Now small blockers are learning the hard way that 1 MB doesn’t work.
So there’s some proposal to combine segwit and a smaller 4 MB blocksize increase. I wouldn’t back it. Segwit is needless complexity and most segwit supporters also support Replace By Fee, which allows reversible transactions which is a disaster. BCH is simple, honest, and scaling.
Bitcoin core is also bankrolled by Blockstream, so they might never change.
Excellent speech about how crypto can end wars:
I'm going to pick up some other coins on binance soon. I was planning on using litecoin, but is ether or bitcoin a better option?
dude don't touch Litecoin
the founder sold all of his
@Tanner - SC if you look at the segwit plans for the future, they’re planning on adding a lot. Bigger block sizes, contracts, etc
I don’t see a point in BCH and other forks if the core team just incorporates the changes
looking into Electroneum (ETN) right now. promising.
one of the biggest token sales when in development at $40M total
@here Just a generic but friendly reminder not to risk money you can't lose
Someone suggested i buy Ripple at 1.10 but my finances are fixed to buying Ramen for the forseeable future
Weev seemed very optimistic about Monero. He said he no longer holds much bitcoin and invested it there instead. Thoughts?
Weev already made his money on BTC. On to the next one
I tried setting up Monero app. The built in mining ability doesn't work and the wallet app feels buggy :/
And Monero has a 25 word wallet seed AND a password. The password kinda defeats the purpose of the 25 word seed in terms of security
@Deleted User I like the goals of Monero, but I did a deeper dive into how it works and I wasn't impressed. A pro is that receiving Monero seems successfully to be completely anonymous, because essentially a new receiving address is made for every Monero transaction. However for sending Monero it obscures your transactions by mixing your transactions with 3-10 others at a time. That gives you plausibile deniability to being the source of a single transaction but if you send a transaction twice to the same person then you are likely to be the only person mixed into both transactions. That doesn't seem very secure and also the mechanism smacks of Bitcoin mixers which have a lot of research showing they aren't as secure as advertised.
Ultimately the decision to invest right now is based on whether you think you'll make money. If you look at Monero priced in dollars then it *looks* like Monero has gone up 10x this year. But that's because ALL cryptocurrencies including Bitcoin. So I would only invest in Monero over Bitcoin (Monero also being a bit of a PITA to obtain in my experience) if you think it's vastly going to outperform Bitcoin. Monero priced in Bitcoin (XMR/BTC) is exactly that and you can find multiple charts for it online, it's actually stayed relatively stable for a cryptocurrencies, meaning there's not much difference from a dollar standpoint whether you put you money in Bitcoin or Monero. Given the ease of entry, use, and ubiquity of Bitcoin I think it makes sense to stick with Bitcoin. I would only go into Monero if you really think there's a hidden factor that's going to make it pull ahead of Bitcoin more than where it already has in terms of popularity.
Monero does not have to be held to utilize its unique value. Hold BCH, trade into Monero when you need a private tx, then trade out of Monero back into BCH.