A love letter from Dash to Bitcoin Cash and Roger Ver + My venture into the Crypto-Sphere

in #bitcoincash7 years ago

I'm pretty new to blockchain and cryptocurrency. In fact I only started mid 2017. I first heard of Bitcoin around the time it hit $1000 but being a kid and not having easy to use opportunities I couldn't get into Bitcoin. Later after becoming an adult and discovering all sorts of cryptos I finally Bought some ETH with my credit card. Yes, I bought ETH and upto this day I haven't done any BTC transaction.

I'm a very technical person and I often play devil's advocate. When I came across ETH ICO I wasn't too sure about the security of the project. I had no reason to doubt Ethereum. It's just the skeptic in me didn't find enough trust in myself with the solidness (solidity?) of the project. Then came the DAO hack and I was happy I stood away. It took some time for me to get into cryptos back again especially with all the obstacles when it comes to buying crypto with Fiat.

So why didn't I buy BTC? Simply put there was no future for the old relic. Cryptocurrency are digital assets. By definition they have no intrinsic value. The only value a Cryptocurrency has is it's use. To elaborate more, I'd say it's about 

  1. Utility
  2. Usability
  3. Scalability

That's what matters in Cryptocurrency. How does one use a crypto with long confirmation times and growing fees that actually ended up at $8.90 on average. That's way higher than VISA and MasterCard. So why bother. We also need to remember that BTC transactions can take hours to confirm. Recently I've seen people paying few dollars for the Tx and still wait 2 days to confirm.

Usability is pretty OK-ish for BTC. It's accepted around the world though it had negative merchant adoption in 2017. There are several multi-currency wallets that support BTC. But there are no mobile friendly wallets like Dash, NEM, PIVX that also support usernames and other __protocol level__ support for mainstream adoption.

Let's not talk about the last part. It's a complete joke. BTC is actually trying to be Digital Gold. I wonder what happened to being that peer to peer transaction something.......what was that again? Bitcoin was supposed to bee money that's free from gov but it's now sort of being a store of value as if a digital asset can ever be real. If there is no use; there is only a bubble. That's what BTC is.

Bitcoin is full of censorship and trolls. I'll let you visit these 2 links and do your own digging.

https://www.reddit.com/r/ethereum/comments/7akjgt/as_a_very_new_person_in_the_crypto_currency_world/

https://www.reddit.com/r/bitcoin_uncensored/

I don't know a whole lot about Roger Ver. But after seeing this video I like the guy very much. He seems like a very sensible person. Roger is no maximalist and he seems to be focused on getting things done and helping people to be free from government coercion.

Instead of being some fanboy jerk he support different alt-coins and believes in diversification. When Roger Ver was supporting Bitcoin Cash I was supporting the fork too. BCH is simply the Bitcoin with 8 times bigger blocks resulting an 8 times better currency. It's a protocol level upgrade that took down fees and confirmation time by over 100 times.

When I came into crypto-sphere Dash instantly became my #1 currency coin. It was made in response to Bitcoin being utterly hopeless when it comes to improvements. It took BTC 2 years to do anything about the scaling issue (which ended up being a massive mess) while Dash simply took few hours to decide that they'll eventually make the blocksize 400MB. That's some real on-chain scaling. I've seen lots of positivity from Dash towards Bitcoin Cash. Even me who wouldn't touch BTC except in trading, I've always cheered for BCH.

You may ask why cheer the competition. First of all the competition is with the governments and elites. Second of all Bitcoin Cash isn't the competition for Dash. Here is what DashForceNews which is funded by Dash Decentralized Autonomous Organisation has to say. (For those who don't know; Dash fund's it's own development and people can be paid, sponsored and fired by the network. No need to worry about internal trolls and splits. They don't happen in Dash.)

 There are many reasons for Dash advocates to welcome the addition of Bitcoin Cash to the cryptocurrency ecosystem. Like Dash, Bitcoin Cash is striving to fulfill Satoshi’s original vision of Bitcoin as a peer-to-peer electronic cash system. Both Dash users and Bitcoin Cash advocates recognize that bigger blocks are necessary if cryptocurrency is to compete against the existing financial system, which processes thousands of transactions per second—far beyond the capabilities of a 1MB-blocksize cryptocurrency.Further, like Bitcoin Cash advocates, most in the Dash community are wary of using software hacks like Segwit to solve the scaling issue. While there might be much to commend implementing Segwit, it is not a long term means for creating a robust, global peer-to-peer payment network. 
 When Bitcoin was first created, it was touted as a peer-to-peer electronic cash system. Since that time, Bitcoin has evolved into more of a store-of-value than a cash system. Whether this is a good thing or not is for the market to decide. But one thing is sure: there is still a need for a cash system like the one Satoshi first envisioned. Up until now, Dash was the only major cryptocurrency focused on fulfilling that vision. With the activation of Bitcoin Cash, there will be another player in that space. 
 The ability for Bitcoin Cash’s large blocks to efficiently process significant transaction volume while maintaining low fees demonstrates the validity of a big-block approach with on-chain scaling. Dash famously committed to a purely on-chain approach to scaling the network earlier this year, with over 400mb blocks down the road to enable the network to scale to 5,000 transactions per second. The surge in Bitcoin Cash transactions demonstrates that, in practice as well as theory, larger blocks can be an efficient way of handling large transaction loads without resorting to off-chain scaling, lending some credence to Dash’s long-term scaling plan. 

The bottom line is that Dash community fully support Bitcoin Cash and Roger Ver. We are not afraid BCH will become the peer-to-peer electronic cash system that Satoshi envisioned. BCH has not governance, no self-funded treasury, no instant transaction, no private transactions. It's just good old Bitcoin that got everyone's attention in its real form. Dash and other coins that were inspired by Dash are simply the evolution of the Original Bitcoin.

You can read my previous post Here: https://steemit.com/bitcoin/@vimukthi/bitcoin-vs-dash-my-case-for-bitcoin-being-a-bubble

Upvote if you liked this post and follow for more content. I write my own content on Anime, Economics, Philosophy, Psychology and obviously about blockchain. I also resteem all sorts of great content I find on steemit.

Invest wise and Invest for the long term.

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@vimukthi,

Damn, bro! You seem pretty adept for only being in the crypto-space since 2017.

You write like a seasoned pundit.

You pulling my leg?

I'm an OG of the cryptocurrency space, but of course, that really doesn't mean sh*t...

New stuff to learn everyday. That's probably why I like it?

Btw, still digesting your last rec' reading.

Namaste, my friend.

JaiChai

I'm a fast learner. If you dive deep into the roots of something and learn the mechanics of the subject it becomes very easy to learn. I always look for the fundamentals and reasons "why?" and "How?"
When you learn how a certain eco-system work from the inside you can generate your own knowledge on the go.

Cryptos have a reason to exist. So if you look for how each project is fulfilling/serving those reasons you can gain a good macro level understanding of things. What are the requirements to be digital cash and how each coin compare at this job? What is their roadmap and what kind of a community is it? Can their goals be achieved and how?.......................Make a short list of few such questions and answer them. You'd have a very good post and you'll understand the project very well.

Namaste
Happy steeming!

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Awesome post and video w/ Roger! 100% upvote and resteemed. Also, i interviewed Roger just last week. Check it out :)

https://steemit.com/news/@ashe-oro/i-interviewed-roger-ver-on-www-freesociety-com-the-world-s-first-free-market-based-country

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