PoW Bitcoin - Bcash Debrief - 8/3/2017

PoW! Bitcoin Market Update -------------------------------- SHOW NOTES with table and links for metrics available http://bitcoinandmarkets.com/p014 Thanks for listening! ----- SHARE and FOLLOW Host on twitter: @AnselLindner https://twitter.com/AnselLindner and the show: @btcmrkts https://twitter.com/btcmrkts ----- THIS SHOW IS SUPPORTED BY LISTENERS LIKE YOU! $1-5/mo. https://www.patreon.com/bitcoinandmarkets ----- Bitcoin&Markets on YouTube https://www.youtube.com/channel/UCxWJc6ZVFJDjI6eh7MU68Tg ----- My initial reaction to bcash fork was thank God we are rid of the megablockers. Bitcoin is free. Tax implications, BTC + BCC for tax purposes. KYC concerns. Exchanges will know where your cold storage real bitcoin is, too. Until there's a better way to sell, like bitsquare or localbitcoins, I won't. Bitch coin - It has come and gone. It was a non-event in my mind. The biggest thing it did was invalidate a lot of Technical Analysis. Overall, bcash is a centralized coin. 10s of nodes on AWS, only a few miners. Bitcoin gets it's value from decentralization and censorship resistance. That's what makes it a good store of value and form of money. Coinmarketcap.com's traffic exceeded FT https://www.reddit.com/r/Bitcoin/comments/6r4864/coinmarketcap_has_more_traffic_than_ftcom/?st=J5V9M6I0&sh=9ecb5bc6 Great point by Peter Todd, miners aren't in charge in bcash either, so slow blocks won't be the cause of failure. https://twitter.com/petertoddbtc/status/893052242470866944 Poloniex went down and people were getting worried. They've come back from what I can tell. No big altcoin massacre happened, which is suprising. Everyone was looking at bitcoin and bcash. ----- Music by Joakim Karud