What I heard in a podcast lately is that BTC

Question

What I heard in a podcast lately is that BTC

has strengthened decentralization and security, leaving the scalability to L2 protocols like LN, but BCH is scalable and decentralized, but not secure because the txns fees are so low that 8n the future miners won't be incentivized to invest in mining BCH, which will lead to centralization and then to security threats.

Wdyt about that?

#bch #bitcoincash #cryptocurrency #english

0

06.03.2024

6 ответов

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Amplified Christopher 🐺💙🔊 Автор вопроса

Dustin 🪐
In the future, if it is being used as money for th...

Yeah, I get that, but the point the guy made was that as the fees are low, and will tend to be lower in BCH, the txn volume needs to be very high as for the miners to be interested in keeping collecting the fees and not doing it in BTC for example, where the fees are so high that that theres is like 70x the fee amount to share among miners than there is in BCH.

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8 месяцев назад

Dustin 🪐

Amplified Christopher 🐺💙🔊
Yeah, I get that, but the point the guy made was t...

You’re talking about today vs adoption. The whole point of the block reward was to leave time for adoption.

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8 месяцев назад

im_uname#100🍋 🌭

Amplified Christopher 🐺💙🔊
Yeah, I get that, but the point the guy made was t...

btc and bch actually share a stated goal of collecting as much total transaction fees in general! the path to there is the difference. btc's goal is to sell some small limited amount of transaction space at very high price. our prediction is that it'll stop at some point and spill over to alts. that has mostly come true, so btc is already hitting its limits on what it can charge, it's not going any further. bch's goal is to sell a lot of transaction for much more reasonable prices and enable a lot more usecases in the process. it has been set back by multiple unrelated disasters since its birth, so nobody knows whether that'll play out yet. if you believe in earning more by selling to more people at cheaper prices instead of selling to less people at higher prices, bch is the bid.

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8 месяцев назад

Amplified Christopher 🐺💙🔊 Автор вопроса

im_uname#100🍋 🌭
btc and bch actually share a stated goal of collec...

I believe in the second statement, just wanted to know how would that play out given fees will be the only incentive in teh future

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8 месяцев назад

ErdoganTalk jackson

Amplified Christopher 🐺💙🔊
Yeah, I get that, but the point the guy made was t...

Here you see that the mining profitability is basically the same. What we have to worry about is the total mining effort for bch. Obviously majority is better, and we can only have that if the coin value is also higher Otherwise more mining is better than less, but it is not a straightforward computation to find out what is enough

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8 месяцев назад

Dustin 🪐 · Accepted Answer

Dustin 🪐

In the future, if it is being used as money for the world (as was the original vision), transaction fees will pay for security. If it isn’t, all was moot and the experiment failed. I think you already get this and simply haven’t made it all the way around circle yet.

0

8 месяцев назад

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