少し現金

Why not create a new Bitcash Coin {BHC}.

Start from genesis

Let's call it a project by the 'Sukoshi Genkin' {少し現金} team. Why Sukoshi? Because it means 'a bit' or 'a little' in the Japanese language. As the original 'Satoshi Nakamoto' team is probably incomplete, and therefore its original Whitepaper may be considered a closed case, I would suggest a new team. A former member of the original team could pick this up. Only if I am convinced it is really one of them. Nobody is to use this idea, except the one I hand it over to.

This Bitcash Coin {BHC} will start from genesis. Where I suggest a hyperbolic mining setting. Meaning it will start with low mining rewards, then at some point high and it will slowly move back down. Still getting to the right amount to be issued over time. Because it will start from zero it can be set to the whishes of the team. If I am correct this then will be one with a free size block limit. Where miners can lock it in consensus.

OP_codes

The team can activate any kind of OP_codes, but I suspect they will be the original ones of Bitcoin, as done by 'Satoshi Nakamoto'. Bitcashcoin is probably going to be based on the latest Bitcoin Unlimited code. Except the Bitcoin Cash OP_codes for external data checking. As everything will be done in script on chain. This will keep the Bitcashcoin blockchain as it is ment to be. It will be a sound money system for the whole world.

As extreme multi core computing power becomes cheaper, huge amounts of RAM memory are for grabs and harddisks go at high speed for lower prices, huge blocks are very well possible. The internet infrastructure constructed with glassfiber will be able to handle these large blocks with ease. Running full nodes and or mining will probably be a out off reach for home users. Companies, universities, banks and so on, probably will be able to do so.

Why another one?

As the developement of the original Bitcoin went its own unique way and the original 'Satoshi Nakamoto' team is apparantly incomplete, it might be the best way to create a new one. With the current affairs in mind like fighting wars, doing attacks, split forks and so on, is giving the Cryptos realm a hard time. This new coin, based on the original idea of Bitcoin, aimed at doing limitless 0-confirmation transactions and easy on chain scaling will be the new to beat competition.

It will be a direct competitor for Bitcoin, Bitcoin Cash, Ripple and many others that want to be the number the sound money system for humanity. Making a clean start will create more sympathy, at least I think so, although there will always be negative responses. This seems to be the way to start this substantive Crypto blockchain that follows in the footsteps of the original Bitcoin idea.

Team 'Sukoshi Genkin'

Will be lead, as I see it, by the original team-leader of the 'Satoshi Nakamoto' team. Things could be renamed, like the smallest part to be known as a 'Sukoshi'. To even more distinct between the former branch and the new Crypto. Bitcashcoin might not be the final name. It might even simply become known as Bitcash. The further developement of Bitcoin. By a fresh team with a new insights.

The slow start mining might actually not be a good idea. As it would take to long to issue enough BHC tokens. Some other approach might be prefered. And I do see how getting, at least, 10'000'000 BHC out in a short amount of time might be quite a challenge. A smart team, like Sukoshi Genkin, will solve this within a few hours. There will be all kinds of solutions possible. It could be by doing an exchange sale, a swap, an airdrop, handing out prices, smart script developement rewards, faucets and so on.

My reasoning

There is a small chance that this will be read by those who this is ment for. Almost no chance, to be honest, or a 'dont-care' probably. Yet like many other Crypto users I have been quite annoyed by some ego-wrestling that has been going on lately. Or might I state: again. But there are people, like me, to whom Cryptos have become a (extra) source of income. Plain and simple, no millions or billions. Just getting payed in Cryptos for putting time, energy and effort in a job of some kind. And these Cryptos most of us need to convert to money.

The savings of many of those who kind of live in the same sort of situation are not held in bank accounts. True, that is risky, especially when some very wealthy are going for Crypto wars, no matter how many millions it will cost them. This already cost me a part of my Crypto savings.

Who cares right?

We live in a capitalist world, the law of the jungle, within the law of the banking monetary government system, of course. And dog eats dog. Life sucks, good bye... In the meantime I was able to finance the study for my offspring, with a part of the Cryptos I have earned. This is not such an unique story, there are many others for whom cryptos were/are a blessing. Seeing this good part getting actively destroyed is a sad thing to watch.

Sure, it must great that one can spend 10 million on lawsuits. Rather would use them on something else myself. And true, millions to spend come in very handy in a war. All the rest is just colateral damage, oi oi oi! Guess I am done with it, virtual war in the digital realm, killing zone wars in real life. Cryptos and blockchain technology had such a great promise and maybe it still does, who knows.

Free and Open Source

That is where it now all boils down to, for me. As if Cryptos did not have enough enemies and challenges coming from 'the outside', nope let's create some internal wars too. Having scammers and thieves was not enough yet. Okay, yes, I understand, if you have some idea you came up and you witneess how it changes into something you dislike, that can be bad.

Bitcoin was Free and Open Source from the start. There must have been done some smart thinking upfront, I presume, to make that choice in the first place. So, yeah, I doubt many claims that have been made. But if one must, had to, then on can always create a new one. And get it noted, using millions to spend anyway. This whole war shait, I really do not get it. But being smart is no guarantee for being wise, that proves the current situation to me.

When to exit

The idea to create a new Crypto is quite easy, I think. Making it a damn good one, that is another level, for me at least. The recent chaos in the Cryptos realm has inspired me to dig in a little deeper. Yet it is hard for me to believe very smart people can act as absolute dumb-asses. For the record, anything human is known to me. But I do not want to risk staying in a place that slowly destroyes what I have build op.

This I have written before. How it is just as important to know when it is the right time to enter, as it is to know when to leave. When it all adds up to negative then I know it is time for me to leave the Cryptos realm. Currently I still want to discover more, there is more to come. And it probably will blow over, or maybe a new Crypto will take over the lead.

Who knows, time will tell.

Just a wandering of my mind.

Photo cc-by-sa @oaldamster.