Jan 3 · 1 min read

Entertaining read, Aleksandar. I’ve been of the mind that the nation-state is becoming obsolete as well. You’re quite right, once you take the power of money creation and flow out of the hands of government — there really isn’t much point in having one.

You are also quite right to call out Roger Ver. This snake-in-the-grass using his mimicry campaign to confuse newbies to the space to promote his china-coin (thanks to Jihan Wu/Bitmain) has caused a lot of unnecessary distraction and diversion.

There is a silver lining though — the halvening. BCash doesn’t have anything remotely resembling a fee market right now. The avg gain per tx for miners is something like 0.008 — hardly sustainable.

When their block reward halves, and it will do so about a month sooner than Bitcoin thanks to their goofy difficulty adjustments as they tweaked the algorithm — what will happen is the reward will get cut in half, and then it becomes uneconomical to mine BCash.

This is a combination of their order-of-magnitude lower price per coin and their order-of-magnitude lower transaction volume on their paltry network. Even if Roger Ver personally tried to keep it going by paying miners himself (centralization of the utmost extreme) it still wouldn’t be enough.

So I look forward to BCash finally entering the miner death spiral, as they’ve been a bad actor for quite some time now. Even Roger’s exchange that he launched won’t be enough to prop the price.

Good article, thanks for sharing.


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Enjoying the decline…

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Ed Yong
Mar 25 · 22 min read


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