Hacker News Reader

Comment by erentz | Hacker News Reader

It’s disturbing because there’s really nothing good technically to support it and it’s highly centralized. If you believe in the ideas behind Bitcoin and decentralized crypto currencies in general you would in theory be very opposed to Bitcoin Cash. And if you’re not so concerned about tenants of decentralization then you’d be assessing currencies more like businesses or startups: look at the development team, the management, etc. and in that case there are much better alternatives to BCH. It’s very bizarre and sad for the damage it’s doing, really seemingly just to enrich a few.

View on HN

Surely from a decentralization point of view almost nothing would beat iota.

Surely, IOTA is a pile of insanity, right?

It is still centralized right? [1] The whole thing is still implemented in ternary [2] for some reason right? Implemented by the people who rolled their own crypto, then when they - days later - were told it was obviously and trivially broken (collisions discovered via differential cryptanalysis) claimed they left it broken as some sort of copy protection mechanism? [3] And then pretended Microsoft was involved? [4]

The one of which Schneier wrote: “In 2017, leaving your crypto algorithm vulnerable to differential cryptanalysis is a rookie mistake. It says that no one of any calibre analyzed their system, and that the odds that their fix makes the system secure is low.”

That IOTA?

[1] https://medium.com/@ercwl/iota-is-centralized-6289246e7b4d

[2] https://hackernoon.com/why-i-find-iota-deeply-alarming-934f1...

[3] https://gist.github.com/Come-from-Beyond/a84ab8615aac13a4543...

[4] https://thenextweb.com/hardfork/2017/12/12/iota-partnership-...

Unfortunately they all are. There were 5-6 years when bitcoin actually wasn't totally insance, but unfortunately the way the "powers that be" (exchanges + hash pool managers) are treating the rest of us, that ended definitively in September (actually more like Februari, but ...).

You can't transact in bitcoin, and nothing else has any acceptance ... That breaks cryptocurrency, so all one looks at is finding interesting toys.

So I guess I'm doing the same thing as all your posts you linked to, I'm saying "I'm excited, if 'the tangle' demonstrates that it can scale, I'd love to see that happen".

I would suggest nobody invest in any cryptocurrency. That said, having 50$ of play money in iota (and others) is both fun and interesting.

This is laughable.

Technically

BTC and BCH share a near identical codebase, save for the recent junk BCH had to remove.

Larger BCH block size prevent transaction buildup that has caused the fees to go insane on the BTC side of the fence.

The new BCH difficulty adjustment protects it from would-be gaming/manipulation by miners.

Technical progress is actually happening with BCH.

Technical progress is currently vapourware with BTC.

Centralization

BCH has six distinct and separate development teams.

BTC has one gatekeeping development team aggressively blocking proposals that get in the way of selling second layer solutions.

Reply on news.ycombinator.com