Gold collapsing. Bitcoin UP.

[Tom Zander]

if BCH moves to implement a new transaction format, it seems like it would be good to really think it through very carefully, and design a "next generation" transaction format design something that solves other long-standing problems, not just adding tokenization capabilities.

FlexTrans sounds not so bad now, eh?

 

[Tomothy]

@bitsko interesting thought. off the top of my head, i doubt it will be significant . . . to begin with, that fact only pertains to the US market. in addition, BTC faithful probably converted their BCH to BTC long ago. informed individual investors who decided to cash their BCH out would have done it during the bubble, despite short-term capital gains, rather than wait a year and end up losing in absolute terms. hodlers will hodl. this leaves us with institutional investors needing cash returns. they should have analytic tools to realize BCH is, at the very least, a good hedge in their portfolio.

on a different note: all of you twitter warriors, you need to also be posting on memo.cash . . . hopefully someone builds a tool to automatically port tweets over.

I think we could see more dumage 8/1, mainly because i've heard rumors bch coming to gemini along with some other coins and had a launch day of around that time. @8up I'd love to see us hit the 0.2 ratio prior to fork day for 8/1. It's not unheard of but it also doesn't seem particularly likely given the overall depressed crypto market scheme. I think it's closer to September/October before any bottom/turn around starts. I've literally called this all wrong and played a lousy hand. :/

 

[79b79aa8]

the short / long term capital gains divide is essentially on the honor system anyway, at least for individuals (one could take the BCH, turn it into BTC offshore, sell BTC in a US exchange and report the sale FIFO*).

so it's about US institutions cashing out their BCH. i don't see any reason for a stampede.

@Tomothy sometimes you win, sometimes you lose :/ . . . good news is we are hovering around a situation where we know how to win: accumulate BCH at the bottom of the market. it will be more or less obvious when BTC capitulates. amass fiat for now.

PS. i don't see .2 in two weeks' time.

* edit: of course, i am not recommending to do anything of the sort (on the contrary, i think you should hold on to your BCH!). just pointing out that it would be quite difficult for the IRS to tell if someone did or didn't do something like this.

 

[Mengerian]

@Mengerian
If you had to choose between OP_ GROUP and GROUP implementation, which one would you pick, and why?

That's a hard choice, I have similar reservations about both. They both touch the core protocol in a way that seems too "hard coded" for one particular function. I guess GROUP seems like a better token solution, but also more disruptive and risky change to the protocol compared to OP_GROUP.

I'm actually hopeful that the recent attention on tokenization will lead to people coming up with new approaches we haven't though of yet. It would also be great if some of the methods that don't require protocol changes would be implemented, and see how those work.

 

[steffen]

It's a long time since I have read on this forum. I have moved on to bchchat.slack.com. I just want to let you all know that you can now spend bitcoin cash on a lot of things by using the service https://cryptonize.it/order-anything/ or the https://www.cashpay.solutions/ wallet which is also created by cryptonize.it.

It works like this:
You provide cryptonize.it with a link to a (set of) product(s) you want to buy, and inform cryptonize.it about your name, email, physical address etc. Cryptonize.it provides you with a quote in bch. You pay cryptonize.it with bch within 1 hour, and then they buy (with fiat) the product(s) you specified. The products are shipped directly to you.

Cryptonize.it is Dutch and you will probably need to order your things when it is morning to evening in Holland and not right before you go to bed. Otherwise Cryptonize.it might ask you for your bch payment when you are sleeping or otherwise not available. That will make it difficult for you to pay within 1 hour.

I have tried buying things several times through CashPay. Cryptonize.it's fee is low to non-existing.

Let's start spending some bitcoin cash to make bitcoin cash more like real money.

 

[Jonathan Vaage]

Is that the slack channel most people here have moved on to? What about a Bitcoin Unlimited Slack, or any others?

 

[Richy_T]

It occurs to me that now we have some room in OP_RETURN, we could use it to include an encrypted (physical) address, allowing for much more secure purchases.

 

[steffen]

Is that the slack channel most people here have moved on to?

I am not sure. There are at least two slack channels: btcchat and bchchat. I am in the latter after originally being in the former. The switch happened after some people couldn't get along in the former slack channel. I found it more rewarding to be amongst the people in bchchat.

 

[SPAZTEEQ]

It occurs to me that now we have some room in OP_RETURN, we could use it to include an encrypted (physical) address, allowing for much more secure purchases.

If implemented, could this make the cryptonize it approach more powerful?

 

[Richy_T]

I'm not sure about cryptonize.it. I was more thinking about one-shot purchases. I think the main issue would be that if the merchant were ever compromised, it would pretty much definitively tie your purchase to you and by extension, link your identity to other transactions :/ (though I guess this is already true to a degree anyway)

 

[Norway]

I just wrote two articles I'm going to publish on Yours. They are called "GROUP vs Tokeda" and "UTXO Growth: Solved".

They are both under two pages long, and I hope someone here want to read them and give some feedback before I publish them.

Send me a DM here if you have time to read them.

 

[79b79aa8]

memo.cash has been steadily adding features and UI improvements. take it for a spin.

 

[cypherdoc]

kicking the beehive:

https://www.reddit.com/r/btc/comments/8z704a/lightning_network_security_concern_unnecessarily/

 

[cypherdoc]

wow, gizram84 is alive and kicking in that thread. i'm almost sure it's Elizabeth Stark for a few reasons:

1. it really cares that the thread talks about a potential vulnerability in LN
2. it nevers denies the numerous and pointed direct Elizabeth saluations
3. it must know that some ppl already know it's true identity or that if it was discovered to be truly Elizabeth Stark, lying to that fact could be highly detrimental to her career as a lawyer.
4. the acknowledged perseverations in that thread in both our cases is that i have no financial conflict other than my coin hodlings (of which i hodl both). otoh, if it is Elizabeth, you can tell it has a huge financial incentive in obfuscating any LN criticism.

if you've never worked with lawyers before, there is certainly an ethics requirement on honesty that does seem, in the aggregate, to want to be followed by at least the honest lawyers out there. i'll give her that, if i'm right.

 

[cypherdoc]

i like running my bitcoind behind rotating VPN IP's. why would i want to fix my IP address on LN?:

"I recall reading Lighting Network requires nodes to have fixed IP addresses. I assign one."

https://medium.com/andreas-tries-blockchain/bitcoin-lightning-network-1-can-i-compile-and-run-a-node-cd3138c68c15

 

[Norway]

We need a token solution where the token holders are free to transfer their tokens without permission from the token issuer, and the token issuer is free from power to babysit the token holders.

It's about freedom!

 

[Norway]

Does Bitmain's token proposal Wormhole provide permissionless transfers of the tokens like GROUP?

https://www.yours.org/content/bch-smart-contract-is-coming----wormhole-protocol-proposed-by-bitmain-1debc785b3f8

 

[lunar]

Handy little stress testing script. Ready for the big 1st Sept stress test.

https://www.scale.cash/

Easy to use, browser based, with dust going to eatBCH.

Maybe explains the current mempool situation?

 

[Norway]

Just published my twin articles "GROUP vs Tokeda" and "UTXO Growth: Solved"


Thanks to everybody giving feedback on the articles before they were published!

 

[solex]

This normalised comparison chart shows which coin is making the running...