Erik Voorhees: “Roger – please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn’t. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.”

Erik Voorhees: “Roger - please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.” submitted by /u/eragmus
[link] [comments]

Bitcoin – The Currency of the Internet

“Chain fees leave a bad impression vs inflation. Fees are visible, inflation is hidden. People get the impression that fees must be minimized, but the system is designed around them. Fees remind people of middleman rent, but it’s actually a direct support for the system’s security”

"Chain fees leave a bad impression vs inflation. Fees are visible, inflation is hidden. People get the impression that fees must be minimized, but the system is designed around them. Fees remind people of middleman rent, but it's actually a direct support for the system's security" submitted by /u/wallyjo3
[link] [comments]

Bitcoin – The Currency of the Internet

POWER CONSUMPTION PERCEPTION POW CONSENSUS MECHANISM FOR BLOCK CHAIN (patentscope.wipo.int)

A power consumption perception PoW consensus mechanism for a block chain, comprising the following process steps: (1) in a Bitcoin system, all nodes compete with each other on the basis of respective computer computing power to jointly solve an SHA math problem that is complex to solve but easy to verify, and a node which solves the problem at the fastest speed obtains a block accounting right and Bitcoin award automatically generated by the system; (2) interconnecting physical servers…

Bitcoin

“Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient.” -Hal Finney, Dec 2010

R.I.P. my Satoshi Nakamoto.

submitted by /u/slacker-77
[link] [comments]
Bitcoin – The Currency of the Internet