Bitcoin Cash Node Reveals Upgrade Plans for May and

Why I am supporting Bitcoin Cash

First, I want to say that I believe that Bitcoin (BTC) will moon and that lambo will rain, for several reasons that I won’t explain here and now. So please don't shit on me or down vote this post without explaining yourself properly. I'm saying this because the crypto community is full of young and emotional person insulting each other all the time without being able to explain their view clearly. I’m just sharing my story and my opinion, if I say something wrong, please let me know. No need to be emotional.
My story: I’m French (Forgive my English), a software engineer, working from home, previously in the banking industry, big noob in blockchain code related. I have been supporting bitcoin for a couple of times now, unfortunately I discovered it a bit late, promoting it to people around me as the peer to peer cash system and hoping that it will give us our financial freedom.
During this bear market and after losing a big part of my coins, I finally took the time to get a better understanding of each coin I’m holding and I quickly realised that Bitcoin Cash wasn’t a scam, that Bitcoin BTC is purely a speculative asset, the playground of professional traders, used to rekt noobs and that Lightning network will end as custodial wallets because no one will take the time/risk for opening/closing/securing a channel, especially poor people (few billions). There is no benefit for the average user in maintaining a LN node. I believe it will be more interesting to mine Bitcoin rather than maintaining a LN node.
So basically, I lost faith in the promise made by the Lightning Network which made me focusing on why Bitcoin Cash is the answer to a decentralized peer-to peer electronic cash system. I can confess that in the past I used to believe that second layer solution was the solution for everything, but I changed my mind.
To make it simple, BCH allows to make instant payment for very cheap whereas BTC can’t and won’t.

For each crypto project, I look at those different points:
1. Length of the chain
BTC and BCH are sharing the longest chain, it has been working well without any issues since now 10 years. No other project has such a good track record. This make me feel confident that the chance that this will continue to work as well for years or decades.

2. Community behind it
A good community for me is when you see technical people, risking their reputation/identity by posting videos, writing stuff and talking in public events about the project they support. Based on that, I believe the BCH community is the biggest of all. By technical people I mean someone talking using technical approach to back their opinion rather than beliefs based on emotions. Usually in the crypto space, those people are developers but it’s not always the case.
I made a small list of technical people supporting BCH:
-Peter R. Rizun: Chief Scientist, Bitcoin Unlimited.
-Vitalik Butterin (he often showed his support regarding BCH but didn’t produce any content)
-Jonald Fyookball: Electron Cash Developer
-Jonathan Toomim: Bitcoin cash developer who made interesting proof regarding scaling onchain)
-George Hotz: no need to present this awesome crazy dude!
-Amaury Séchet: Bitcoin Cash Developer and French! 😊
-Rick Falkvinge: Founder of the swedish pirate party, watch his youtube channel.
-Gabriel Cardona (Bitcoin cash developer)
-Justin Bons : Founder & CIO of Cyber Capital
-Dr. Mark B. Lundeberg: Developer researcher
And there is a lot more, but those people are people that I personally trust for their work they shared and that I like following.
Recently we had the Bitcoin cash city conference, another event full of people supporting BCH, that kind of thing doesn’t happen with other crypto. So many brilliant people supporting BCH, how could it be possible that all those guys are supporting a scam or a shitcoin. As well, there is often meetups and conferences all over the world.
The developer community is not centralized, there is multiple teams (BitcoinABC, Bitcoin Unlimited, BCHD, Bcash, Bitcoin Verde…) independent of each other arguing sometimes about technical and political stuff, this ensure that developments and important decisions are not centralized. I find this very healthy. If a fork occurs, it’s not a problem, it will simply double your coin and allows two different ways of thinking to grow and compete. This won’t happen in Bitcoin (BTC) anymore, the way of thinking is centralized for BTC, they all share the same view: the segwit workaround + small block + layer 2 = (moon + lambo) in 18 months.
Regarding CSW, I don’t believe in this guy for now but maybe I’m wrong, maybe this guy is wrongly understood but based on all the things I know about him, he seems too complicated to be someone honest. Honesty comes with simplicity.
Finally, regarding Roger Ver: He is hated a lot and I still don't understand why, I feel sorry for him, I really tried my best to hate him like the crowd, but I couldn’t find any reasons. Many people are saying that he is lying and scamming people but none of them are technically able to explain why. It's really a crazy story and I understand why some people call him "Bitcoin Jesus". I personally think he is doing a great job and I thank him.

3. The current and future adoption
BCH is used by reel people and reel shops (check the bitcoin cash map), there are transactions on the network to buy and sell real things that exist in the real world. Can you believe this? Maybe the only blockchain having that. Please let me know if you know another blockchain which is today serving the real world.
The Bitcoin cash wallet app is easy and exciting to use. Same for the app for merchant. This can be used by my old mum! The BCH roadmap shows that more features will be added to simplify and enhance the user experience. I can’t find other blockchain having that level of user friendliness.
Recently Roger Ver announced HTC mobile phone with a BCH wallet preinstalled. I read as well that Burger King is accepting BCH, but I haven’t verified if this was legit or not.

4. Existing features and roadmap
-Multiple wallets built on all platform.
-Bitcoin Cash point of sales: this app is the app that merchant should use to accept Bitcoin, as well very easy to use and takes 5min to install.
-Cash shuffle with Cash fusion allowing to transact anonymously, making BCH competing with privacy focused coins such like Zcash, Monero, Dash. I heard this function will be implemented as well on mobile devices.
-SLP token: The simplicity of creating a token and sending dividends make BCH a bit competing with all smart blockchain. Anyone can create a token, raise funds and send dividends easily and it works! Will Bitcoin Cash evolve to a smart economy?
-memo.cash: A social network stored on the blockchain, fixing the problem of censorship we have on reddit for example. I recently discovered it, it’s awesome to know that you can write whatever you want, and nobody will be able to delete it and this forever. It’s really an awesome experience. I invite you to test it. For example, yesterday I had fun creating, sending token and being tipped in BCH or in any token by random people, it really shows the potential of BCH. I think I made around 50 on chain transactions in less than one hour with less than 10 cents.
-Stable coins: We can build stable coin on BCH; this is something very important as well.
Regarding the roadmap: It’s well described on bitcoincash.org and looks promising, but no update since the last 5 months. Not sure if it’s normal.

5. Security
SHA256 based algorithm are I believe the most secure, I don’t think we need to add more regarding this. Maybe someone can help me to find some downside regarding security, often some people talk about the potential 51% attack that could occurs on BCH but I couldn’t manage to have my own opinion regarding this.
Regarding the double spending attack because of the zero confirmation, I have asked many people to explain to me how this could potentially be a problem for a real merchant. I think that small and insignificant amount doesn’t need instant confirmation but if you sell a lambo then of course you should wait for at least 5 confirmations.
To summarize I would even consider that zero conf is more advantageous than Lightning Network if you take everything into consideration. Worth case scenario if your restaurant is victim of a double spending attack a few times, you will just increase the confirmation level and prevent your customer from living your place. I think that it’s easier to print fake fiat money and try to pay with it rather than trying a double spending attack. But again, I might have misunderstood something or maybe there is more sophisticated exploits that I haven’t thought of.

6. Price
21 million coins, no inflation, the price currently around 300usd, a boiling community. The potential gains could be as good as BTC and even more. Maybe it’s the so waited coin that you will never convert back to that shit fiat. Certainly, one of the best coins to invest in now.

7. Electricity and efficiency
Since the cost of electricity is the same whatever the size of the block, it means that BCH is more environment friendly than BTC for the same amount of transaction or we can say that it’s "wasting" less energy. Maybe if LN works one day this will change.

My Conclusion:
Bitcoin is technically the worst coin; all others existing coins are better technically. But Bitcoin survives because of the network effect, illustrated by its biggest hash rate, making BTC the most secure blockchain. As well because of promises made by the Lightning Network. Bitcoin is the gold of crypto currencies. Bitcoin like Gold have both almost no utility. In a traditional market, gold drop when economy goes well and goes up when investors need to find a refuge. BTC is the drop zone for fresh meat.
Most of the BTC holders cannot think clearly regarding the BTC/BCH debate, they become completely irrational. This kind of behaviour leads to ruin, especially in trading/investment.With low fees, instant transaction, smart contracts, big community, user friendly apps, stable coin and a lot more to come, Bitcoin Cash has clearly a good future. I hope that someone will find my post useful. Cheers.
submitted by talu3000 to btc [link] [comments]

Jonathan Toomim gives some incredible insight into Bitcoin scaling here. Well worth reading the thread from the top. Good to see decent convo from Btc people also for the most part anyway

Jonathan Toomim gives some incredible insight into Bitcoin scaling here. Well worth reading the thread from the top. Good to see decent convo from Btc people also for the most part anyway submitted by UpstairsAdagio to btc [link] [comments]

For those of you who, like me, didn't get it at first, Jonathan Toomim's proposed algorithm would not only defend against history being rewritten, it would also protect against the worst kind of a attack a powerful (state?) actor could perform on Bitcoin: 51% DoS. Bitcoin Cash only, BTW. ;-)

For those of you who, like me, didn't get it at first, Jonathan Toomim's proposed algorithm would not only defend against history being rewritten, it would also protect against the worst kind of a attack a powerful (state?) actor could perform on Bitcoin: 51% DoS. Bitcoin Cash only, BTW. ;-) submitted by caveden to btc [link] [comments]

Jonathan Toomim gives some incredible insight into Bitcoin scaling here. Well worth reading the thread from the top. Good to see decent convo from Btc people also for the most part anyway

submitted by vegasbooty to Cryptoandme [link] [comments]

Jonathan Toomim on Bitcoin Classic: everything can be voted on, including 21M coins limit

Jonathan Toomim on Bitcoin Classic: everything can be voted on, including 21M coins limit submitted by bit_novosti to Bitcoin [link] [comments]

For those of you who, like me, didn't get it at first, Jonathan Toomim's proposed algorithm would not only defend against history being rewritten, it would also protect against the worst kind of a attack a powerful (state?) actor could perform on Bitcoin: 51% DoS. Bitcoin Cash only, BTW. ;-)

For those of you who, like me, didn't get it at first, Jonathan Toomim's proposed algorithm would not only defend against history being rewritten, it would also protect against the worst kind of a attack a powerful (state?) actor could perform on Bitcoin: 51% DoS. Bitcoin Cash only, BTW. ;-) submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Who is Jonathan Toomim the man behind Bitcoin Classic?

Can folks post any link to his content, video, public speaking, anything here so we can get a feel for who he is?
Thanks
submitted by tinytimsturtle to btc [link] [comments]

Toomim Bros supports democracy and Bitcoin XT with ~350 TH/s

We just sent this email to our customers:
The future of bitcoin is determined by the people who use it, and especially by the people who mine it. Each hash calculated on a block is a vote for how the bitcoin network should operate. Up until now, we've effectively had a one-party system. It's a distributed democratic system that has heretofore been left unused. That has changed. We the miners now have the power to determine the future of Bitcoin.
If you are currently using one of our p2pool nodes or are considering doing so in the future, you have a decision to make. If not, feel free to disregard this message. If you use p2pool but don't care much, you can disregard this email as well, and we'll make the decision for you.
As some of you are aware, a version of Bitcoin XT with code to allow for a hard fork to increase the maximum bitcoin block size was released less than a day ago. You can read a description of Bitcoin XT and some of its motivations, Mike Hearn's Manifesto for the release, and Gavin Andresen's exhaustive list and rebuttal of counterarguments for bigger block sizes for more information on this debate. For news supporting the use of Bitcoin XT, you can check out reddit.com/bitcoinxt and voat.co/v/bitcoin. For news that censors anything promoting the use of Bitcoin XT and moderated to favor the status quo, you can check out reddit.com/Bitcoin.
Mining with Bitcoin XT will have no major differences from mining with Bitcoin Core unless 75% of the last 1000 blocks mined are mined with XT or a derivative. If this threshold is ever reached, then a waiting period of two weeks will start, after which XT nodes will start to accept (and possibly create) blocks up to 8 MB in size. The creation of a > 1 MB block will create a hard fork. There is no way to increase the block limit without a hard fork, and demand for bitcoin transactions will soon exceed what can be supplied with 1 MB blocks. Some people think that creating a hard fork like this could kill Bitcoin. I think this will save it.
Toomim Bros operates two p2pool nodes. We have switched one of those nodes to use Bitcoin XT, and we will leave the other one on Bitcoin Core. That way, our customers can choose whichever node they want in order to make their own vote for how Bitcoin should be run. Everyone is welcome to use these nodes, though you won't have great mining efficiency unless you're inside our datacenter.
So far, Bitcoin Core (and consequently all Bitcoin protocol) development has progressed on a consensus model. All of the main developers have to agree to a change in order for it to take effect. For any important change, there will always be some people who are unhappy about it, so consensus only works for making important changes in oligarchies, and even in oligarchies, it doesn't work well. We at Toomim Bros think that decisions about how Bitcoin should operate ought to be democratized. As such, we support the existence of Bitcoin XT and think that all miners should have the option to choose which version they wish to support and use.
Toomim Bros also thinks that 1 MB is way too small, and that the network can and should support larger blocks. We think that one goal for Bitcoin should be minimizing the real cost per transaction. Currently, that cost is supported primarily by the block subsidy, and runs at about 65 kWh per transaction. (300 MW mining network, 1.27 transactions per second.) That's about $4 per transaction. Increasing the transaction volume would not directly require any significant increase in the mining network power consumption, so it would reduce the real cost per transaction. Our facility spends about 80x as much on electricity as it does on internet connectivity. We do not think large blocks will present a large burden on small bitcoin miners like us.
As such, we are putting the miners owned by Toomim Bros (the company) and the Toomim brothers (the individuals) on the XT node.
We're running XT on 74.82.233.205:9334 (global IP) or 10.0.1.2:9332 (LAN IP), and Core on 74.82.233.205:9332 (global IP) or 10.0.0.1:9332 (LAN IP).
(We also will probably be changing our IP address for these nodes soon. I'll publish details about the new IP once we're ready to make those changes.)
Jonathan Toomim
Grand Poobah
Toomim Bros Bitcoin Mining Concern
We are a medium-sized (750 kW, soon to be 2.25 MW) bitcoin miner hosting company located in central Washington. Visit http://toom.im for more information on us.
I'm interested to see how our customers vote. Most of our customers don't use p2pool right now. It would make me happy if some of them decided to switch to p2pool in order to be able to vote for XT.
submitted by jtoomim to bitcoinxt [link] [comments]

SF Dev Meetup co-organizer threatens Garzik, Andresen, and Toomim with smear campaign if they don't renounce Classic. [r/Bitcoin_Classic xpost]

submitted by andyrowe to bitcoinxt [link] [comments]

Composite priority: combining fees and bitcoin-days into one number | Jonathan Toomim | Oct 28 2015

Jonathan Toomim on Oct 28 2015:
Assigning 5% of block space based on bitcoin-days destroyed (BDD) and the other 95% based on fees seems like a rather awkward approach to me. For one thing, it means two code paths in pretty much every procedure dealing with a constrained resource (e.g. mempool, CNB). This makes code harder two write, harder to maintain, and slower to execute. As a result, some people have proposed eliminating BDD priority altogether. I have another idea.
We can create and maintain a conversion rate between BDD and fees to create a composite priority metric. Then we just do compPrio = BDD * conversionRate + txFee.
How do we calculate conversionRate? We want the following equation to be true:
sum(fees) = sum(BDD) * conversionRate * BDDweight
So we sum up the mempool fees, and we sum up the mempool BDD. We get a policy statement from the command line for a relative weight of BDD vs fees (default 0.05), and then conversionRate = (summedFees / summedBDD) * BDDWeight.
As an optimization, rather than scanning over the whole mempool to calculate this, we can just store the sum and add or subtract from it each time a tx enters or leaves the mempool. In order to minimize drift (the BDD for a transaction changes over time), we recalculate the whole thing each time a new block is found.
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submitted by dev_list_bot to bitcoin_devlist [link] [comments]

INV overhead and batched INVs to reduce full node traffic | Jonathan Toomim | Feb 26 2016 /r/bitcoin_devlist

INV overhead and batched INVs to reduce full node traffic | Jonathan Toomim | Feb 26 2016 /bitcoin_devlist submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Jonathan Toomim on Bitcoin Classic: everything can be voted on, including 21M coins limit

Jonathan Toomim on Bitcoin Classic: everything can be voted on, including 21M coins limit submitted by BitcoinAllBot to BitcoinAll [link] [comments]

SF Dev Meetup co-organizer threatens Garzik, Andresen, and Toomim with smear campaign if they don't renounce Classic. [r/Bitcoin_Classic xpost]

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

So this 'entertaining character', Toomim wants to introduce a Reddit element to the function of Bitcoin /r/Bitcoin

So this 'entertaining character', Toomim wants to introduce a Reddit element to the function of Bitcoin /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Who is Jonathan Toomim the man behind Bitcoin Classic? /r/btc

Who is Jonathan Toomim the man behind Bitcoin Classic? /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Consensus census | Jonathan Toomim | Dec 28 2015 /r/bitcoin_devlist

Consensus census | Jonathan Toomim | Dec 28 2015 /bitcoin_devlist submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Torrent-style new-block propagation on Merkle trees | Jonathan Toomim (Toomim Bros) | Sep 23 2015 /r/bitcoin_devlist

Torrent-style new-block propagation on Merkle trees | Jonathan Toomim (Toomim Bros) | Sep 23 2015 /bitcoin_devlist submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[bitcoin-dev] Can kick proposal from J Toomim

submitted by themattt to Bitcoin [link] [comments]

further test results for : "Datastream Compression of Blocks and Tx's" | Jonathan Toomim | Nov 29 2015 /r/bitcoin_devlist

further test results for : submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Memory leaks? | Jonathan Toomim (Toomim Bros) | Oct 13 2015 /r/bitcoin_devlist

Memory leaks? | Jonathan Toomim (Toomim Bros) | Oct 13 2015 /bitcoin_devlist submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Toomim is one of the founders of Consider.it! /r/Bitcoin

Toomim is one of the founders of Consider.it! /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Composite priority: combining fees and bitcoin-days into one number | Jonathan Toomim | Oct 28 2015 /r/bitcoin_devlist

Composite priority: combining fees and bitcoin-days into one number | Jonathan Toomim | Oct 28 2015 /bitcoin_devlist submitted by BitcoinAllBot to BitcoinAll [link] [comments]

BCH Coffeehouse: Improving the Difficulty Adjustment Algorithm THE COOLEST BITCOIN MINE 3 TH/s Bitcoin Mining Rig part 2 Toomim Bros. Bitcoin Mining Concern - YouTube

We would like to show you a description here but the site won’t allow us. TL;DR: Amaury Séchet, lead developer for Bitcoin Cash (BCH) protocol implementation Bitcoin ABC, announced his team is "moving forward with the Grasberg DAA." It's an answer to increasing levels of discussion and debate regarding the DAA (difficulty adjustment algorithm) in recent weeks, notably led Toomim remained adamant about Bitcoin Classic’s intentions, revealing how he felt that much of Bitcoin is marketing. Later in the chat, Jonathon Toomim – Michael’s brother and partner at Bitcoin Classic – came in and stated that, perhaps, they needed a PR team. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Bitcoin Script and Onchain Contracts: Two High-Level Programming Languages for Bitcoin Cash Last May, the software developer and creator of revoke.cash, Rosco Kalis, released Cashscript version 0

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BCH Coffeehouse: Improving the Difficulty Adjustment Algorithm

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