Bitcoin Cash payments have just been rolled out to ALL BitPay merchants! what do you think about? Is this good information?
Yes. One more stone being laid in the foundation of Bitcoin Cash. Bullish.
I heard bit coin cash was created and funded by the bankers as a way to take bitcoin off the throne, so they can manipulate the market more.
they can only manipulate bitcoin oh so much compared to this bit coin cash, bit coin cash is the bankers bitcoin
I think its true because coinbase is banker owned and they helped pump bitcoin cash
they are now getting sued, and yes you do owe the pumped up bit coin cash price due to market manipluation at coinbase
you know the same coinbase that locked the market when bitcoin crashed and the prevented people from buying in cheap or cut their loses.... how quickly we forget dont we?
https://www.moneycontrol.com/news/business/cryptocurrency/lawsuit-filed-against-cryptocurrency-exchange-coinbase-over-bch-insider-trading-2522923.htmlThe largest cryptocurrency exchange in the US has been hit by a class action lawsuit over alleged insider trading during the launch of Bitcoin Cash(BCH) on its platforms.
The lawsuit filed with the US district court for the northern district of California on March 1 alleges that Coinbase customers lost millions as the exchange tipped off its employees and a few customers about the impending launch of bitcoin cash trading before the formal announcement. This allowed them to trade bitcoin cash earlier resulting in a sudden spike in its price, it further says.
Bankers will not like Bitcoin Cash as it is more difficult to be centralized as the block size is bigger and people can use the network more directly.
Actually a larger blocksize naturally makes it more centralised because full nodes become much more expensive to run so if the network does become big enough then only larger corporations and banks will be able to afford to run full nodes this puts the power in their hands
How does running a full node put more power in your hands? I run several full nodes, and I don't feel very powerful. In a POW coin the miners have to run full nodes, but I don't see the advantage of Joe average running one. Does it really help secure the network?
Yes and no
It does not help secure the network from a PoW sense
By not running your own node you are just trusting whoever is running the node you are connected to via your wallet
Not everyone needs to run their own but there should be enough that a few players cannot change the rules
You will see numbers thrown about that with gigabyte blocks a node will cost roughly $20000 a month to run this is out of the budget for most businesses so you will only get large corporations and the miners running them
While this is generally ok you are putting complete trust into a few all the BCH mining pools are "friends" so if they decide for instance that the low fees are not enough to sustain a profitable business they can just increase the coin supply as no one else can afford to run nodes you just get forced to accept any changes or move to something else.
Call it FUD, propaganda whatever you want but these are huge risks and ones Bitcoin was designed to combat.
Just look at the Genesis block that says it all Bitcoin was born because the banks cannot be trusted and run the current financial system by their rules and allowing just miners to run full nodes gives them the exact same control that the current banking system has abused
I'm sorry but I do not trust a for-profit company to remain honest if nodes get so expensive to run that only the for-profit miners are the only ones that can afford to run them.
By keeping smaller blocks and scaling off chain more users can afford and are incentified to run local nodes which means the miners have no choice but to follow the rules set by the majority as defecting from these rules would create invalid blocks that the rest of the network would reject.
Bitcoin Cash is about retaining power over the network and is a direct response to UASF where it was proven that the users control the network and miners are powerless over the majority
