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Did you think it would be anything else?

+10 votes in 9min? The propaganda war between BCH and BTC is leaking to our sub.

Everything.

These were the people who were behind the upcoming bitcoin fork that recently got abandoned. They have zero control over bitcoin.

This is complete FUD meant to get people to buy bitcoin cash, which has more centralization of mining and almost no development or support.

So, why would they create a fork that was meant to replace the bitcoin blockchain if they already control it?

Litecoin can handle the demand far more acceptably in my opinion. LTC was built "4x" outright and can easily handle current volume of BTC 4x over, at transaction times that are far more worthy of day to day operations. It was like that from block one. Never mind the fees being far less as well. Frankly, if people understood what LTC was designed to do, Bitcoin Cash wouldn't even exist. It wouldn't have needed to. There's already a fully functioning chain that does it better and is seeing its own improvements WITHOUT the risk of a fork.

Besides, you're pimping a single investment (or whatever you wish to call it) and that's foolish. Diversification is a far better choice financially, and what makes cryptocurrency so interesting as well. There's a lot of ideas to back, different ways of solving the same problem.

I mean...yes

BCH is a scam

The title

This is damn intense lol...

For anyone that it is not a dumbass, BTC is 'bitcoin'.

BCH is ~40% owned by a few guys, where as Bitcoin is much more diverse, or decentralized. BCH is a power play against BTC, but who knows who will win.

I have others trying to convince me that BTC is the one up to shenanigans lol. And maybe they are, but it is not the hostile takeover that BCH is.

We should just abandon bitcoin altogether. There are many great alternatives that have solved some of the problems bitcoin failed to in the world of cryptocurrency (in creating it, obviously).

More propaganda from Cash lol

What's this got to do with cash if it's true?

Nah it's just controlled by Ver, Jihan and half of China

Jihan Wu and the rest of the Chinese Miners are manipulating BCC/NEO, and now Koreans are also getting in on the BCC manipulation train (see Bithumbs actions over last few days).

Don't forget that many in the banking industry hate their own industry. There's a Dutch researcher who has done a lot of research into the behaviour of bankers in the City in London.

He comes to the conclusion that most bankers are caught in the system they have to participate in and are not bad people. Obviously there are also complete psychopathic assholes active in the banking industry.

In the past years, many from the banking industry have made the switch to Bitcoin. Why? Because many of them see that cryptocurrency is the future and the old banking system is dying.

This doesn't mean that there are no infiltration attempts to try and subvert Bitcoin, so yes we do have to stay alert.

I didn't say it's all about hating the industry.

Smart people will see when an industry is dying and is about to be replaced with something better. There's plenty of people within the banking industry that see that cryptocurrency is the future.

Can't comment on Larry Summers since I know nothing about him.

In the end it's all about the protocol. The Bitcoin protocol is open-source and when someone is trying to fuck with it we can all see what's going on.

Fake news in conspiracy. Funny.

Now, are they planning on having all these young people invest shitloads of money into this untouchable, virtual currency just to crash the market and make the money disappear? My lack of investment in bitcoin comes from it being at the whim of people and bankers online. As far as I know, they could crash the cryotocurrency system tomorrow and walk away with millions in actual currency.

See, I lack the understanding of the bitcoin workings. I just don't trust handing over physical cash in exchange for virtual money. What if the Internet were to stop working? Or what would you do during a blackout? And those are non-malicious scenarios. Would someone be able to hack an account and steal bitcoins?

Can you or did you post this in any of the crypto subs? I'd like to see their reaction from this

It doesnt stop anything. It's value is based in other currencies. Y'all excited to get free dollars, not replace dollars sorry.

I'm fairly knowledgeable about bitcoin.

The first scenario would basically freeze bitcoin funds until the Internet came back up.

The second would be to not use bitcoin, though obviously credit cards would fail to work during a blackout too.

The third is impossible. Bitcoin is open source in all ways, so it would have to be hidden in plain sight. Onyop of that a hacker could make himself a multimillionaire easily if he could hack bitcoin wallets now. You can hide things in plain sight from a few programmers, not tens of thousands with a million dollar reward.

Thank you for the response. Is there a place I can go to get a simplistic rundown of bitcoin? Also, how is half of that 20% lost forever?

Bitcoin is stored in wallets, and wallets are long strings of numbers. So long that if you used every computer on earth you would be unlikely to stumble on one randomly before the heat death of the universe. If someone stores bitcoin in a wallet (and makes no backup), and then their harddrive dies or they delete their wallet, those coins are lost forever.

It's widely reported that the original creator of bitcoin lost his wallet for a large amount of the initial bitcoin that was created in the first few months that the network was running (largely off one machine he launched the network on). Also a lot of the early adopters of bitcoin deleted their clients after running it for a year or so, and their funds would have been lost forever as well. There's probably a harddrive in a landfill somewhere with ~10 million USD worth of bitcoin.

If you want a "101 level: How do I use bitcoin":

https://bitcoin.org/en/getting-started

If you want a "201 level: Eli5 bitcoin":

https://www.reddit.com/r/explainlikeimfive/comments/12knie/eli5_bitcoins/c6w0vjz/

And further details you can find by going to more technical sources, but that's a deep rabbit hole.

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Thanks man. I'll definitely be reading up

do you actually have that much "physical" cash? If there were another run on the banks, or emp attack, etc. all of your USD funds would be inaccessible as well. Also typically people turn their fake USD in bank accounts into their fake BTC coins in wallets. Unless you are sending people gift cards in exchange for BTC, you would likely be doing the same. No physical money there.

I think it boils down to what the difference is between having a fiat representative like a USD vs a virtual 3rd part currency online. USDs only have value because we accept it as a medium of exchange, the bitcoin has actual monetary backing, but is there a finite amount? Or can it be produced quicker?

I'm with you.

It's like buying an e-book. Sure, it's "mine" so long as have a machine to access it, electricity to power the machine, and internet to access the web. Take any one of those out, and poof. Value gone.

Apologists will point the massive hardship in hacking an individual's digital wallet. That's not the issue. One person is not at risk unless the system is at risk. The whole system can be shut down on a whim.

Just like the stock market can be tanked on a whim.

Easy they control the graphics card manufacturers, all they have to do is control the supply of graphics cards and you can control mining.

Invest in bitcoin early, build up support and investment into bitcoin simply for being a big name investor (driving up value of bitcoin as more and more people want to get rich off early adoption). Sell all bitcoins as peak, organize massive hackings of all major markets, dissolving faith in security of the currency, crashing it.

There will be nothing to shut down except the internet

This special assignment was given to China.

Now, are they planning on having all these young people invest shitloads of money into this untouchable, virtual currency just to crash the market and make the money disappear? My lack of investment in bitcoin comes from it being at the whim of people and bankers online. As far as I know, they could crash the cryotocurrency system tomorrow and walk away with millions in actual currency.

Yep

It is impossible to hack the Bitcoin system without investing a massive ammount of $$$. We're talking in the hundreds of millions. And even that would only be enough to revert the system temporarily.

So which actors would do this? It's insanity. If any government did this, wasted hundreds of millions of taxpayer money and not really achieving all that much. It's impossible. It would crash the price and damage trust, temporarily. But Bitcoin (Cash) always bounces back because the system is based on human greed.

With all due and sincere respect, I'm not sure where to start listing the holes in your post. If you're really interested I would be willing to give it a try though.

Remember this?

https://en.m.wikipedia.org/wiki/Mt._Gox

Yes.

I had considered buying bitcoin within the month before that breach. Nearly every source I read said that the safest way to keep your BTC was to just keep it in Mt. Gox. I'm glad I didn't do it.

Last week a coworker started ranting out loud to himself about how he had decided to buy a couple $k of bitcoin the night before and by the time he arrived in the office the next day he had lost almost 600$usd.

Don’t get me wrong, I think the intentions for the currency are noble (if what people repeat about it is actually true), but at the same time its strengths seem to also be its weakness.

I’m sure a lot of people have made a killing by trading in this thing. I’m just not sure those were the “little people” making a large profit.

Also, I don’t have a very good and clear understanding of how this stuff works (I’m a software engineer, not talking from a technology perspective, but rather from a finance/economic standpoint), but from a very far distance it would appear that you’re buying virtual money equivalency at a point in time, whose actual dollar amount fluctuates depending on supply and demand. If I were a very rich person, I could start buying to drive the price up and sell when the profit is high enough. How is this different than all the shenanigans on Wall Street currency exchange?

The anonymous aspects protect your identity but also makes it impossible to know who is responsible in case of foul play.

It's actually not anonymous unless you really know what you're doing. All transactions are stored in a public worldwide ledger.

Foul play is impossible to do within the Bitcoin protocol itself. You can have shenanigans with exchanges, and there are many factors you need to learn if you want to trade.

But if you like the idea (which you will once you understand it completely), and you hold your own private keys, there's really nothing that can prevent Bitcoin from getting massive unless they permanently shut down the internet. Forever.

I bought into BCH and the price immediately crashed. Sucked, but because I know what it is, I feel less worried.

No one can give you 100% certainty. But then again your next breath isn't a certainty either.

The ledger doesn’t have any personal information as part of the transaction, though. At least that’s my understanding.

True, but as soon as a single adress is linked to your true identity, all of them can be linked. All of the online exchanges require ID. You can still buy them in cash or OTC or in other ways though.

So you need to be really careful how you do it if you want to remain anon.

The point you make is also reversable though. Sure, you as an individual aren't really anonymous. But the government isn't either. You can track their expenses as well.

This is my fear exactly. Thank you

That's why I'm interested and watching China. If they were to officially back a currency or protocol like NEO or NULS, then of course that will skyrocket but it also won't be at the whim of something like Goldman Sachs who has the power to buy or sell the entire order book.

Definitely, a governmental backing, or some larger institution that's accountable would make me feel more secure in investing. Especially after reading about mt gox

At the same time I'm very interested and invested in the other side of the coin with privacy coins like zencash, with fully anonymous transactions and publishing. I think it will be a godsend for whistleblowers and those living in oppressive societies.

Definitely. I can see it being a tool to our current currency system rather than a takeover for those reasons exactly

exactly!!!!!

Gold. Silver. Physical Cash. Bitcoin Cash.

Unbank the banked.

Learn more at r/btc

🤣 “physical currency, peace and prosperity“🤣. Tell us another!!

Because obvious manipulation is obvious. Copy pasta no no.

The tech and team behind ETH is far superior to either those of either BTC or BCH, and it's not controlled by central bankers either.

the real LPT is always in the comments

Ethereum is moving to Proof of Stake. Don't ask me how, but long-term Proof-of-Stake does not work. Proof-of-work is necessary.

So while the Ethereum devs may be better technically (I actually know very little about them aside from Vitalik), they are making a monumental mistake by switching to PoS.

Why shouldn't I ask you how?

Vitalik is a proven genius, and if he thinks POS is viable, I can't see why I'd take your word over it than his.

Heh one of has got to be wrong. I'm not stupid myself.

But value is based on perception, look at btc atm. Its essentially a ponzi.

Here's the proof

https://vimeo.com/242870813?ref=tw-v-share

Around the 1 hour mark.

Tldr: pos consolidates power. Pow is a daily struggle. Only pow is grounded in reality.

Here's the proof

https://vimeo.com/242870813?ref=tw-v-share

Around the 1 hour mark.

Tldr: pos consolidates power. Pow is a daily struggle. Only pow is grounded in reality.

thanks I'll check it out later.

when will they dump/

Be on the lookout for TulipCoin

ITT: OP trying to raise the price of his latest BC cash investement

You drank the koolaid, Bitcoin cash is Vitalok Butarin and Roger Ver, both have a stake in bitcoin collapsing so they can push their alt coins.

Curious how Vitalik relates to any of this drama. I haven't seen anything linking him to bch. Care to provide a source?

It's all over his tweeter, he has been pushing BCash the last few days.

I just looked at it and there isn't a single mention of bch other than saying congrats for reaching #2 on coinmarketcap. He hasn't been pushing anything other than development of eth

https://pbs.twimg.com/media/DOhVulMWAAAR3Ok.jpg

Buy Ethereum. Buy litecoin. Buy bitcoin cash. Thats the beauty of crypto. They can only try to control it. They cant succeed.

FDR made gold 'illegal' im pretty sure they could do something similar to cryptos.

They can, but it's impossible to enforce. They also can't make it illegal everywhere, so if the US outlaws crypto then all the new wealth with grows in the rest of the world.

They can't stop us.

I hate to be a Debbie downer but we are talking about a group of people that have enslaved the entire planet a thousand times over. Do you really think they don't have a plan?

I think they have lots of plans, but crypto/decentralization is a new weapon and they haven't figured out what to do about it. They are definitely trying to gain control of Bitcoin. It's not working out well for them.

Deep down it feels like a trap to me.

Never underestimate the enemy.

Fair enough, but I see a lot of disinformation about crypto on this thread. I know that I am glad that my saving is in crypto, and I am working on decentralized projects that will directly combat the control and misinformation that TPTB use to control the world.

If you want to be afraid of Bitcoin, then learn about it first. Be afraid from a position of knowledge instead of one of ignorance.

I am positive that the CIA and media are trying to make people afraid of Bitcoin.

A gut feeling is hardly fear.

ELI5 please

So what, is this still a controversial topic, or is there consensus?

Do the bankers control BTC and BCH, or what?

If I want to get into cryptocurrency for money transfers, and long-term investing, which are the best?

This is why bitcoin formed to bitcoin cash. They don’t control that one.

This is wrong:

DCG does not own Blockstream. They had a small minority investment.

Blythe is not on the board of DCG.

Blockstream may be causing issues on its own, but it has nothing to do with DCG, or "central bankers"

How?

That's largely perceived as blockstream furthering their agenda, and has nothing to do with "bankers". This theory is extremely inaccurate.

You have not demonstrated that they're controlled by central bankers.

Blockstream is funded by AXA bank. Their CEO is also the chairman of the Bilderburg group.

You just admitted that you fabricated the one piece of evidence you used to justify your theory? lol

I don't know a whole lot about bitcoin, and I don't trust it yet, but it seems to have the potential to be a better alternative to the financial system we currently have in place.

If you are a bitcoin holder please sell for Bitcoin Cash.

I read up to your pump and dump, the FCC should put you people in prison. Bitcoin is shit because X is one thing, but you, and ten thousand other accounts I see in the sources I go for crypto are putting out questionable stories pumping BCC and shitting on BTC. This is a crime, what you are dong

Don't you mean the SEC?

No it’s not. I mined back when you could mine with a cpu (2009). And bitcoins were a fraction of a penny on the first markets. Bitcoin suffered a bunch of massive failures/disasters/hacks that set its development back. Banks freezing accounts, people shutting down sites and stealing the coins. It was a struggle. There’s no way in hell someone who wanted it to succeed, with a ton of money, was involved early on. If anything, the banks were constantly freezing/closing accounts that had anything to do with BTC. The community made it happen, slowly but surely. But man it was rough back in the day.

Hey OP, do you know the intricacies of the Bitcoin blockchain to totally understand what you are posting?

If not, it might be wise to have one of the experts on /Bitcoin to chime in and see if this a real threat.

I'm talking more about if it's true that those turds own Bitcoin and/or if it even matters if they own it. Will them owning Bitcoin affect me somehow if I buy Bitcoin?

Not conspiracy worthy, but Blythe Masters is a stone cold fox.

BCH and ETH til I die!

Fuck

What do you mean? Should I buy BCH?

for money the more online it is the worse, it's easily overwritten by the bank. if you have fiat material cash, that's not as good as inflation lowers it's value. gold, silver and other metals are better but also inflat value, are manipulated by rothschilds. if you own raw materials with uses, like oil, that is best. even then it may be stolen by thieves or armies. constantly patrolling the land where the oil is in is expensive. hard to brainwash men to sign up, need to fund religion to do that. no real perfect choices.

you made this post yourself so ought to know otherwise

If you are a bitcoin holder please sell for Bitcoin Cash!

this sounds like someone trying to drive up the value of bitcoin cash.

If anyone is crazy enough not to diversify - they are putting themselves at way to much risk.

But I certainly cannot justify selling all bitcoin just to buy more bitcoin cash.

but hey - you do you. I was just providing my opinion.

It's not shilling if you are correct. Not all games have clear winners and losers. If he gives advice to buy and BCH goes up, everyone wins.

I am a very active trader & VIP in a handful of crypto groups.

This is propaganda for an alternative cryptocurrency BCC which is created and controlled by miners. They are not happy about the potential future of BTC not being very profitable to mine so they are trying to set themselves up for success down the road.

Ignore this shit, it's not relevant to this sub. BTC's price can be manipulated but it cannot be controlled unless someone owns 80% of the network's infrastructure which is not the case.

Eventually wall street bankers will not be able to so easily manipulate the price when the market cap hits a high enough figure.

If miners have control, they can choose to manipulate the price whenever it suits them. I trust greed over Chinese having control over crypto.

But keep shilling your desire for 'legacy btc to die'. It's software, it can be patched and has been. It's actually really upsetting that someone in this sub is drinking the BCC kool-aid.

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You are part of hundreds if not thousands of posts being flooded online pushing how 'great' BCC is. You are the end product of a well laid out propaganda campaign that speaks to those who wish to be 'in the know' of the new crypto.

Until BTC royally fucks up it's not going anywhere. That has yet to happen because it's development cycle aligns more with the Linux foundation while BCC is basically Snapchat. They aren't even in the same league. Their initial builds were so god damn buggy it was an embarrassment.

LOL. There it is.

Ahh... I hope you can break even on your shilled purchase. You would be in the minority if you are able.

https://np.reddit.com/r/btc/comments/7cfjf3/just_learned_about_the_politics_of_bitcoin/dpphadx/

:)

As he posts a thread in /r/conspiracy

Bitcoin is old news. It's all about useless ethereum tokens

Jihan Cash is trash. It's completely centralized and intentionally was pumped this week to try to replace bitcoin, making Jihad and Ver billionaires many times over and all bitcoin owners around the world poor. Bitcoin cash is a tool by a bunch of rich corrupt crypto moguls for stealing people's money. I don't know if the recent takeover attempt failed because the coin sucks or because it was a pump and dump. I think the latter, the reason being the former. Don't get your news about bcash from /r/btc. They're shiling it over there because they placed their bet on it.

Heads up a decentralised peer to peer permissionless crypto currency doesn't have CEO

I'm shocked that the bankers who want to chip us would be. Whims the first digital currency. Just shocked /s

I mean.. cute and all.. But BCH to me = china... so whilst i have some bch, i will be keeping plenty of distance.

Chinese mining power is less than 30%.

You drank the koolaid, Bitcoin cash is Vitalok Butarin and Roger Ver, both have a stake in bitcoin collapsing so they can push their alt coins.

I think they have lots of plans, but crypto/decentralization is a new weapon and they haven't figured out what to do about it. They are definitely trying to gain control of Bitcoin. It's not working out well for them.

Litecoin can handle the demand far more acceptably in my opinion. LTC was built "4x" outright and can easily handle current volume of BTC 4x over, at transaction times that are far more worthy of day to day operations. It was like that from block one. Never mind the fees being far less as well. Frankly, if people understood what LTC was designed to do, Bitcoin Cash wouldn't even exist. It wouldn't have needed to. There's already a fully functioning chain that does it better and is seeing its own improvements WITHOUT the risk of a fork.

Besides, you're pimping a single investment (or whatever you wish to call it) and that's foolish. Diversification is a far better choice financially, and what makes cryptocurrency so interesting as well. There's a lot of ideas to back, different ways of solving the same problem.

the real LPT is always in the comments

Ethereum is moving to Proof of Stake. Don't ask me how, but long-term Proof-of-Stake does not work. Proof-of-work is necessary.

So while the Ethereum devs may be better technically (I actually know very little about them aside from Vitalik), they are making a monumental mistake by switching to PoS.