Bitshares-UNITED is the better option for the future of BITCOIN
I wont take up much of your time but take a minute to think about this!
If cryptocurrency is anything about creating a network driven and governed by its users then BITCOIN-UNITED is the choice for just a few specific factors that are undeniable .
COMPARISON BETWEEN BITCOIN & BITCOINS-UNITED BTC-U is "(upgrade of bitcoin by bitshares network)"
- Current Bitcoin transactions processing power per 1 second = 7
- High transaction fees that exceed 2$ at minimum charge of $10
- Block size of 1 MB
- Anywhere from 5 minutes - 2 days in certain situations and even out liars are never processed(OBLIVION)
This is just not enough to handle the demand that this technologies future use cases will be requiring. Even with a fork that they have as one of there potential options it will only double there
7 TPS to a sad and demoralizing 14TPS quite the innovation leap huh.......................
On the other hand we have a option that is honestly just the logical immediate action that is needed to propel this industry forward and generate awareness to the masses. This is a much faster, safer, smarter and don't you dare forget cheaper way to do bitcoin.
YOU sir/ma'am have cought the case of denialism if you believe the current road map for the bitcoin we use today has a stronger potential and a more prosperous future then the BTC-U has in store on there road map
("yes denialism is a real thing") https://en.wikipedia.org/wiki/Denialism
BITCOIN-UNITED specs are a good step in the right direction with more of a realistic approach to tackling large industry adoption which results in mass user adoption.
BITCOIN-UNITED will share the following specs that every coin shares on the Bitshares network
- BITCOIN-UNITED transaction proccessing power per 1 second = 10,000. They claim they have stress tested it BUT on a daily average without stress testing it does not get near 10,000 more around a 3,000-5,000. <--(fact check the stress test)
- Transactions process anywhere from 9-3 seconds
- Fees of each transaction is pennies if not fractions of pennies to the USD$
- Truly Decentralized
- Network of users truly decide the fate through voting
- No miners which equals out to be a whole lot of saved that would of been wasted electricity due to the methodology that Bitshares uses DPOS (delegated proof of stake)which is almost if not already proven to be more cost efficient, fuel efficient(electricity is fuel) smarter faster and I believe as safe or safer way to do Bitcoin or Cryptocurrency in general.
To be on Visa or Mastercards competition level you need to be able to successfully complete thousands of transactions per second all the while keeping it Cheap to use <----(majorly important)safe and secure.
That is exactly what BTC-U will be able to accomplish. In my opinion if this crypto-universe is really about supporting the best technology so we can propel this industry forward at the velocity it deserves to increase at, then its this communities duty that the whole community hears about this as a option moving forward for the crypto-universes highest market cap coin. Why slow the process of innovation down by staying loyal to a dead goat. Like humans continue to do... Evolve.
Cheers!
DEX
nickeles8
BTS6xCEUvmnM4bJvkLUv7jCGrGG5qvNKNivUXjbvPqBSy2LJxs1sV
BTCU basically fixes everything and gives everyone what they want - fast transactions, instant scaling, even stealth / anon transactions. Plus smart contracts when Bitshares migrates to EOS. Done and done, let's get on with it!
agreed^
God idea, you only need to convince the Bitcoin community.
Reference Links for those wanting to catch up:
The Coming Bitcoin PItch Fork
Bitcoin Unchained - The Platform Independence Movement
Bitcoin United Offers 3 Second Transactions and Massive Throughput
Please Don't Break Bitcoin!
Nice articles explaining some of the forking issues from a Bitcoin perspective...
Bitcoin Forks Ulterior Motives
Bring on the Split
Bitcoin Community Cheers as Miners Back New Scaling Framework
These Bitcoin Wallets are Ready for a Fork
Government Sponsored Segwit is Dead on Arrival
Bitcoin Segwit2x Update War Coming
Segwit Vs Segwit2x Ready Bitcoin - Good summay
Bitcoin Cash - What You Need to Know
Full support!
(And commenting for easy personal reference later)
Thank You for Being You!
Hi Stan, how are you? Do you know how one can get private keys for individual assets on bitshares and in this case, bitcoin? I would like to get some btc-united when it happens but i want to be sure i will have access to my private keys for bitcoin, if i move my bitcoin over to bitshares dex
Keep your bitcoin in a bitcoin wallet - NOT on BitShares! There are no Bitcoin assets on BitShares yet - just useful surrogates. https://steemit.com/@ash has some good posts on how to do it right.
Interesting. I think I heard they plan on issuing Bitcoin United to every address that has bitcoin. Is that correct? If so, how is this going to be accomplished: where do I get my free BTC-U?
So I believe if you go to @stan profile he explains it in depth about how they are going to basically do a
1 for 1 trade for current bitcoin so you can smoothly migrate all your current over to the new chain.
Not exactly sure on the technical aspect of it but definitely check out @stan for his posts. He has the all the details on his steemit account.
Not a trade, you keep your original coins :)
I found it! I thought I'd read somewhere they were going to give it away.
https://steemit.com/bitcoin/@stan/bitcoin-united-btc-u-offers-3-second-confirmations-and-massive-throughput
Relevant portions:
will do, thanks!
Its completly different technology so its not bitcoin.
Different technology yes. This is because the current technology isn't able to support the current growth. Nor will it ever be able to grow at the rate at which this technology will require.
Think platform independence! Is microsoft office not microsoft office when it moves from a PC to a Mac or from Windows to Mac-OS?
Bitcoin Unchained - The Platform Independence Movement
A hundred years from now will Bitcoin be still running on the same technology? The same hardware? The same software? The same developers? The same miners? If not, will it no longer be Bitcoin?
If it can change hardware and software and developers and operators completely over 100 years and still be bitcoin, why can't it do so in 100 days? What's different?
Great replay @stan
Same distribution, far superior technology.
Things that are #1 often get overconfident.
Bitcoin is #1 in market cap.
BitShares is #1 in global usage (peak transactions per day)
So we should both watch out!
That said, we are able to reach 100 times as many users as bitcoin has in the coming year. What will the world look like then?
I agree about how you mention bitcoin has a name in the space and a reputation. Thats why BTC-U will be able to take that name and upgrade its properties so it can for now be the most known coin and also act like the strongest coin. atm its not behaving as it should... $2 transaction fees on a $2 transaction, cmon for the #1 cryptocurrency market cap that is a bag of shit. the #1 market cap better be giving me the speed and frictionless movement that cryptocurrency can offer when done right. it's an outdated, slow and honestly in its current state a dumb coin and the only thing keeping it #1 is because it was first out the gate. There is no future scenario where the bitcoin you see today and the mining pools and bitcoin core who are the decentralized centralized power are holding control of the #1 marketcap coin. One thing you have to understand is the superior technology always wins because at some point it becomes as easy to understand as black and white.
thats my opinion.
i'm with you regarding the downsides of Bitcoin, please look why i donated to IOTA. But do we always see edge technologies in action immediately after publication? I think not because mass adoption needs a long time to get trust from the majority. I also think the first mover advantage is not to underestimate. Bitcoin devs must watching to evolve with new technologies and will adopt features. In the meantime they will live on the deep market penetration. Bitcoin is a brand that can be burned like Netscape with the rising of the internet. I agree that superior technologies will get market share but to disrupt everything they must do something significantly better and not just on paper or in laboratory but in the real world at the retailer, the bank, the user. What are the drivers? costs, speed, security, convenience and big companies with much influence which penetrate markets and have the power to replace existing ecosystems i think.
Because of that it's not possible for me to predict that Bitcoin-UNITED will be the better Bitcoin.
Your theory holds true in a traditional market, but we are moving to a new market and a new era of technology where the same rules dont apply. I believe we will see speeds of mass market adoption quicker then you think. Given the low barrier to entry and low switching costs from coin to coin its only a matter of marketing to change someone from a BTC to
BTC-U. Like the speed of light from the sun everything is moving at light speed ; )
Maybe, but as i wrote there is always a lazy brick & mortar world and that world changes always slowly. Branding, emotions attached to a coin are also important. Think of the Dogecoin, why people need Dogecoin?. Why not Bitcoin for charity? It is not always technology, has Microsoft the best technology with Office? With a debit card service like TenX for example you accept also fees >1% and have that great advantage to pay with almost every cryptocurrency. The fees are acceptable so long we have this strong growth in value and such convenient service if you think of the pain in the ass with all that Altcoin swapping and storing.
Bitcoin has proven to be the most stable cryptocurrency currently and that is very important for currencies especially for regular people or the majority who expect that 1 Bitcoin today is 1 Bitcoin tomorrow or even more but never less. If Bitcoin find solutions for their urgent problems than they are competitive again and still have the first mover advantage. And yes i think all the other great technologies get their market share with important niche applications which Bitcoin cannot serve. For me it's like Julian Hosp from TenX said we're sailing on a vast ocean with rising sea level and stormy waters from time to time. But it's always rising with Bitcoin and Altcoins together. Look at the a month before many people saw the sinking boat of Bitcoin because Ethereum was on par with regarding to market cap, currently BTC has a superior near 50% again and is not the cutting edge technology today.
We'll see how it turns out. Whatever happens i see a bright future for blockchain, tangle and upcoming technologies in the crypto space.
I see where you are coming from, but you cant even compare Ethereum's and Bitcoin's output added together with a fork and a half
are still 243x slower then Bitshares TPS. Very small amounts of the world economy uses this market. 115billion to date is the highest market cap we have had. Cant you see the goal is to migrate every single person on this planet over to this way of transport of value(money). This is a technology that can utilize every single person who has access to wifi on this planet to create a single cell economy.
The benefits of utilizing a larger amount of our population together in a open no border economy will increase the way of life of anyone who participates. each user generates value, the more users the more value.
Simply put bitcoin cant scale at the rate we need this technology to scale and the demand for blockchain based services will increase. The people will migrate naturally to what will support the healthiest economy, and the most people around the world. Everyone will benefit if we create a free economy on a single decentralized platform that we the users can all benefit off of each other. I stay optimistic the day EOS led by @dan is released and has potential to do unlimited TPS so there is chance at really creating a market that every single person on this planet has access to from where ever they live.
I'm very optimistic for the whole crypto space independent who'll take the lead because it's like looking into a crystal ball just (educated) guessing. Without a doubt from technical standpoint you're right and also how the community in steemit is developing are positives and that makes me feel optimistic. Bitcoin was the forerunner of progress and is still fighting for all the other assets and currencies because they solve problems for the others so they can learn from and improve their technologies even more. I think it's like a huge community with uncount disputes and discussions with the only goal to create progress.. 2 steps back 3 steps forward 2 steps .. and if had the chance to do a time-lapse ten years ahead i think we would see things unbelievable today!
Exciting times ahead steemit friends!
https://steemit.com/btc-u/@nickeles/bitshares-united-is-the-better-option-for-the-future-of-bitcoin
http://united-bitcoin.com/
There are many red-flags for proponents of decentralization.
Quotes from website:
"United Bitcoin is a project to create an authority dedicated to developing Bitcoin software, protecting the users from fraud, ensuring stable growth of BTC value and continuous and guaranteed functioning of the network."
"The node power must be consolidated. As nodes are strategically important parts of the network, they must be placed in secret areas, protected by government."
"Banks will also ensure no bitcoins are used for harmful purposes like purchasing drugs, assault weapons or sponsoring terrorism"