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In this video, I discuss Bitcoin Cash (BCH) in the context of the blocksize wars, as well as indications of Satoshiβs plan for Bitcoin.
Both BCH and BSV (Bitcoin Satoshiβs Vision) are failed copies (hard forks) of Bitcoin that currently command just 1% of Bitcoinβs market cap. In addition, the extra block space that BCH brings is not even close to being utilized.
Money is a competitive market, and only Bitcoin has the decentralization and security to survive direct attacks by nation-states, as well as defeat fiat, gold, and other traditional state-controlled forms of money.
Other cryptocurrencies are a huge distraction, and most do little more than recreate the existing fiat financial system, with their pre-mines and insider control.
BCH folks are usually Bitcoin white paper maximalists, who focus on the title of Satoshiβs white paper without understanding the overall context in which it was published. Satoshi was clearly aware of goldβs scarcity and other desirable attributes, and tried to copy the best parts of it (including proof of work) when creating Bitcoin.
Small blocks help to keep the blockchain size manageable, so that everyone can run their own node. If it becomes too difficult or expensive to run your own node, everyone will outsource it to large corporations like Ethereans do with Infura. This can allow a crypto to become captured or controlled, and defeats any hope of decentralization.
The Bitcoin base layer is a final settlement layer that needs to be reserved for the most important transactions that require strong final settlement guarantees. Activities like buying coffee can be safely handled by higher layers like the Lightning Network.
BCH supporters understand nothing about the advantages of a scaling or layered solution to money. And they donβt understand how badly they have already lost the money game.
BTC is the real Bitcoin. Accept no substitutes.
Not investment advice! Consult a financial advisor.
Download Bitcoin Core to your laptop to run your own node:
My favorite Bitcoin dashboard:
BCH market cap:
BSV market cap:
Bitcoin white paper:
Satoshi quote on central banks:
Blockchain explorer for BCH:
Nobody using BCH compared to BTC:
When President Roosevelt stole all the gold:
Tomer Strolight on the blocksize wars:
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#bitcoin
#cryptocurrency
#bch
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Wow!!!super-duper helpful!!!!!
Bitcoin cannot make up for the -99% profitability of the cryptocurrency market I have experienced. I try to trade between Bitcoin and an altcoin and the pumper dumper Alt/BTC scheme loses me 30%. So I flip on Bitcoin and the price tumbles. I could punch a brick wall.
The Tether is on the slow death spiral and I expect the failing alts will initiate, and bitcoin will crash from the toxic debt in the system. A 96.7 to 99.9% reduction from 65.8B to 2.129B or 6.637M. Alternatively they could reach 16T before the serious collapse in 2029.
Altcoins are pressed against the ceiling in the total3 / BTC chart. Either they break above 2/3 or break below to 1/3. [17.827 to either [34.2M, 7.2M].]
Mathew, you did not answer my last question about why BTC nodes can't be taken over by the central banks. These nodes are simply hardware (ASICs), no? Everyone is in SOME jurisdiction!
It seems your main thrust is that BTC can not be used by the central banks to control the world. I see it quite the opposite. Central bank knows it's despised by most so needs to "sneak in" their crypto overlord. People that hype BTC fail to see that it offers them everything they need, a base layer that is too expensive for he normies to participate in. Only the elite will have freedom for tyranny. BTC will be the FX of ALL legal POS side chains, each backed with it's own asset base and risk/net averaged onto the BTC chain to the degree needed to balance transactions.
Prove me wrong!
World adoption of BTC will create history nodes of tremendous size, blocking most small nodes out of the market. Industrial sized BTC node farms will be needed, highly regulated of course. They will be a utility. Central bank capture, again!
Is BTC the Great Reset? You will own nothing and be happy? 2030 is when we switch over to BTC for world FX.
BCH is true peer to peer transactions. BTC has been overtaken by whales. ps XRP is now decentralized;)
Maximalists seem to be reaching hard.
Although there are problems with each particular project.
Great video
Lmfao, what a stellar, bootleg, National-Treasure-level analysis! The words βpeer-to-peer electronic CASHβ in the title of the white paper aren't clear enough and lack the proper Context, but the 2016 block difficulty adjustment window is an obscure reference to Order 6012. Seriously?!
Exactly for trash
Since hard fork 11/2020 the death Coins ABCH rebranding Ecash no one supports
And not pay for holders
All for trash will death soon
I agree with most of your points but realistically speaking, bitcoin needs to find proper scaling solutions for it to work as a global store of value. Imagine the congestion the blockchain would experience if for example a billion people tried to use it. You could have a future where only megacorporations could afford to settle transactions on the blockchain and everybody else would be forced out of using it. People would then need to trust these corporations to hold their bitcoin because they could only use the lightning network with bitcoin settled by the corporation, destroying bitcoin's purpose. Banks/corporations could then have monthly settlement transactions on the blockchain, costing tens or hundreds of thousands of dollars. That would be a dystopian future where bitcoin is subjugated by corporations and warped into something not much better than fiat due to limitations of the algorithm. I was happy when the big blockers lost the block size war because corporations should not be able to force something through that does not have democratic consensus (also dumped my bcash). However, 1 MB in the future could be something more akin to a kilobyte today, and running a full node with much larger blocks might not just be feasible, but necessary. However, a hard fork like that would require majority consensus if/when it becomes necessary.
If Bitcoiners are trying to separate state & money then you have to allow the competition of other cryptocurrencies. Are Bitcoiners trying to lobby the state to label all other cryptos as securities and get them banned? How ironic.
Another great one Matt! I feel more able to speak about BTC and the whole crypto environment after watching, studying and researching what I learn on each one of your videos. I feel smarter after each one. Iβm in deep thoughts about Truth and Freedom and what it means for us now and the future and how to effectively communicate it to others. I am so tired of the ideologues and the superficiality of the twitter brains and those deceitful tyrants who want to control us. This is hard work and I appreciate the work you put in every day to help.
Iβm hoping to start a podcast soon, not on BTC per se, but on principles of Truth and Freedom. Your information helps me greatly in this area. People who deeply want the truth need tools and you give them here freelySo thank you.
the sad part is dude spend time out of his day to make a full 20minute video about the most useless coin……..go touch grass ….talk to girls…….
Segregated witness is a protocol change! BTC is an airdropped fork! The truth is sunshine!
<I feel there are more to this market than we know. Ask for a proper guidance before investing in this pretty much complicated market. I've made over 9.2 BTC when I started at 1.5 BTC in just a few weeks with Cischke Kevin Analysis his strategy is so satisfying. Things might get worse so just make the smarter move.
Sounds like a buy signal. Thank you very much.
Bitcoin is forced to El salvadorians using a gun to their head. LMAO. And get this: the wallet is a centralized POS lol
Goat
Great videos as always
No Agenda podcast.
There is a YouTuber who also runs a Patreon that he's making a sh-tload of money on named "Crazy4Crypyos" and he calls himself "Digital Dave." He shills BCH big time, and shills garbage coins like THETA, DENT, MTV, etc. etc. He advised people to buy THETA when it was $5, $6, $7..$10+, it's now barely over $1. I lost a lot of money stupidly listening to people like him who have no business giving advice. Hard lesson learned. I found your channel too late, but I'm glad I found it!
The main evidence of this video until the end was essentially that the market has decided, relevant but not enough, its about what works as the global reserve money. It is still early. And just look at btc/dominance which has been falling and has done poorly in spite of usually going up in a bear market (and no its not because other projects are diluting market share). Context matters for any information. And no bch folk do not criticize energy use.
Two other issues: the purpose of bitcoin, nodes/decentralization
I just bought 5
Would you be willing to do a live debate? You love to talk about BCH but do little to point out shortfalls with BTC and I think it could be valuable to your audience.
Bitcoin cash is going to flip bitcoin. Your critical thinking means nothing.