Roger Ver Heating Up on Twitter – Again

… being labeled as those who favor “censorship” while calling out all other coins as those that actually promote the true motive of Satoshi Nakamoto.
  • Roger Ver once again publicly calls Bitcoin users people who favor “censorship”
  • He previously has claimed that BCH is the ‘real’ Bitcoin, not BTC

Earlier this week, Bitcoin.com CEO Roger Ver, who is also a huge Bitcoin Cash enthusiast attacked Bitcoin on twitter. Roger who is previously known for publicly mocking Bitcoin and claiming that Bitcoin Cash is the true rendition of satoshi’s invention. This time, Roger, popularly known as Bitcoin Jesus tweeted that Bitcoin is a currency that’s for people who are fond of “censorship” and who also would be comfortable to see “dissenting voices silenced”. His tweet stated:

“If you enjoy censorship and have dissenting voices silenced, then BTC is the right crypto for you. If you enjoy liberty, financial sovereignty, and open discussions, then Bitcoin Cash or just about anything other than BTC is the right crypto for you.”

A few days back Roger did share with his followers an old medium article called “A (brief and incomplete) history of censorship in /r/Bitcoin.” The post was created by an anonymous user going by the name ‘John Blocke’ and it highlighted the history of censorship in the Bitcoin community. The article showed various reddit posts dating back to 2015 which as per the author were example of censorship within the BTC community. Roger thinks that Bitcoin Cash, an 18 month old product of the Bitcoin hardfork is the real Cryptocurrency that promotes “liberty”.

Bitcoin Cash isn’t looked upon well by majority of the crypto universe but it does have a really strong community. BCH has been in the sixth spot on the coin ladder because it’s got tough competitors like EOS and LTC. They even have a $400 million market cap lead from BCH but as reported by ChainBulletin, in their recent study they have found that the community to be really ‘passionate’. According to the research, BCH’s subreddit activity has been spiking recently and has an “activity score” of 115,676 ahead of some of the most popular coins like Bitcoin, Ethereum and Ripple. Roger has been really keen on letting everyone know this on twitter. Earlier this February, Roger was seen mocking Bitcoin in one of his tweets that said:

“Who needs ‘Digital gold’ that’s slower and more expensive to move than electronic cash that has the same scarcity?”

Twitter users weren’t all ok with Roger’s taunting. People weren’t comfortable being labeled as those who favor “censorship” while calling out all other coins as those that actually promote the true motive of Satoshi Nakamoto. Jorg Molt, author of “The generation Bitcoin”, and founder of satoshi-school.com has also be seen lashing out telling that Roger has been tricking people with a “worthless” coin like Bitcoin Cash. The rivalry between proponents of BTC and BCH is likely to be with us for some time.

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Jimmy Song Gives 3 Reasons Why Bitcoin SV is a Scam… But Is It Enough to Change Your Mind?

Jimmy Song, a well-known Bitcoin developer and entrepreneur, did a live stream a few days ago explaining why he considered Bitcoin SV, the Bitcoin …

Jimmy Song, a well-known Bitcoin developer and entrepreneur, did a live stream a few days ago explaining why he considered Bitcoin SV, the Bitcoin Cash fork promoted by Craig Wright and Calvin Ayre, to be a Scam.

Why BSV is a scam:https://t.co/bxhCqyoRES

— Jimmy Song (송재준) (@jimmysong) February 13, 2019

Mr. Song has been a profound critic of Bitcoin SV from the very moment of its announcement, however even before its birth; he was one of the biggest voices against Bitcoin Cash, the altcoin from which it originated. A few months ago, on the Blockchain Cruise, Song held a debate with Roger Ver, in which he shared the reasons why he opposes the BCH philosophy. He argued that BCH was fiat on a blockchain, it was extremely centralized, it was somewhat toxic and not at all what was envisioned by Satoshi Nakamoto

Following that same viewpoint, on the live stream, Song addressed his followers saying that “Bitcoin SV is clearly, clearly, a scam” and then went on to elaborate on three important reasons behind his thinking:

Reason 1: Craig Wright is a Kown Scammer

The first reason Jimmy Song gave against the project was that the person who promoted it, Craig Wright, has not proven to be a trustworthy individual. Craig has managed to get media attention because of his claims to be Satoshi Nakamoto, but he has never been able to prove it.

Recently, Wikileaks called Wright a “Serial Fabricator,” explaining several tactics used by Craig to try to trick users with little technical knowledge, such as signing with public keys or altering old posts in blogs and forums:

“He (Craig) is a known scammer; he has never produced a signature as Satoshi … He hasn’t coded anything; he says ridiculous stuff. He uses only social signaling, he doesn’t provide any proof of anything, and the guy has been a con artist for a very long time. That by itself should make you very hesitant about Bitcoin SV.”

Reason 2: There’s almost no development activity around Bitcoin SV

This argument directly criticizes the Project. For Jimmy Song, the little (if any) activity around Bitcoin SV demonstrates that it is practically an instrument for speculation and not a crypto focused on offering its users functional solutions to real problems. The crypto does not seem to evolve or involve the community in its development.

Song commented that the apparent aversion of the team behind Bitcoin SV for open source development generates a danger for its users. He also emphasized that there is no sign of progress or evolution since “it’s all based on the Word of a con artist (Craig Wright).”

“If you look at their GitHub, They’ve done nothing in the past two months … They are not really trying to fix anything … They apparently have some sort of private development … They are not into open source. It’s anything but a secure protocol.

At some point I expect them to release a full node software or something like that that is straight up malware”

Reason 3: The behavior of Craig Wright and Calvin Ayre Is “Peculiar”

In this regard, Jimmy Song explains that Craig Wright and Calvin Ayre, the two main heads behind the Bitcoin Cash fork, have taken a course of action that does not lend credibility to the project. He mentions that from his point of view it is very probable that both are paying other influencers and developers to support this project, although he clarifies that he cannot prove it since there is no conclusive evidence of this:

“They wanted control basically, and they were threatening … I mean, it’s a completely crap vest with Bitcoin ABC, but the fact that they continued to fight and used their money trying to try to pop up this useless coin … it should tell you .. they wanted control their own money and they had enough of own ego to think that people just follow them”

Is It Enough to Call Bitcoin SV a Scam?

Despite the merits of Jimmy Song’s arguments, comparing his Livestream with the debate held in front of Craig Wright, it seems that he failed to attack the project and took the easy way by attacking the people behind it.

Whether Craig Wright is reliable or not, does not mean that the Bitcoin SV project is reliable or not. Comments to the video used precisely this flaw to discredit Mr. Song’s statements. Although YouTube comments show several BSV supporters defending Craig, one of the most interesting counterarguments was that of the user “Fomo Erektus,” who said the following:

“This is garbage.

To point 1: CSW is a “known scammer” in the BTC echo chamber. In the real world this verges on libel. Where are the victims? When has he ever been convicted of anything? But that’s not even the real issue here. The real issue is guilt by association. BSV is cryptographically secured; you don’t have to trust Craig Wright to use it.

2) Pay attention. nChain is focused on creating a microservices-based mining node which will process orders of magnitude more transactions than the current node software. This is public information. The protocol is not at risk. It’s being locked and TeraNode will be protocol-compatible with the legacy implementation.

3) Craig and Calvin used their own money in support of SV and you would like us to view that with suspicion? In what universe is “put your money where your mouth is” considered bad? You have literally not made one single substantiated claim in this whole video. You’re an embarrassment.”

Ultimately, the decision about whether to trust BSV depends on each user. While the actions of Craig and Calvin are not ideal, the project ranks 11th in the global market cap, and its destiny has not yet been written.

Full video available in the link below:

What Is The Size Of Litecoin Blockchain?

Although both the cryptocurrencies work on the principle of distributed ledger technology, still there are certain operation differences between the two.

Feb 16, 2019 01:30&nbspUTC

| Updated:

Feb 16, 2019 at 01:30&nbspUTC

By&nbspPrashant Jha

Litecoin is among the earliest altcoin which was created back in October 2011 to better on some of the limitations of the Bitcoin blockchain. The blockchain is a hard-fork of the original Bitcoin core and a truly decentralized peer-to-peer cashless network.

Litecoin was created by one of the former Google developers Charlie Lee back in 2011 when he was still working for Google. The altcoin promises to be faster with near-zero transaction fee and since its inception, it has been in the list of top 5 cryptocurrencies by market cap.

Litecoin being among the earliest altcoins and based on the original open-source Bitcoin protocol, it draws a direct comparison with the pioneers. Although both the cryptocurrencies work on the principle of distributed ledger technology, still there are certain operation differences between the two.

You May Also Read: Ethereum vs Litecoin – Which Cryptocurrency is Better?

How Litecoin Blockchain is Different From Bitcoin

Bitcoin was launched back in 2009 and was the pioneer or guiding light for the other cryptocurrencies that followed. Similarly, Litecoin even though follows the same decentralization principles have a better block time, which allows for faster transactions. Some of the most significant differences between the two cryptocurrencies have been listed below.

  • Faster Transaction Speed: bitcoin has a block time of 10 minutes, which means a transaction sent over the Bitcoin network might take in upwards of 10 minutes to appear in your wallet. On the contrary, Litecoin has a block time of just 2.5 minutes and thus within a couple of time, your transaction gets verified.

  • Lower Transaction Fee: one of the major issues with the main Bitcoin network is the high transaction fee, while its counterpart litecoin promises almost negligible transaction fee.

  • Better Scalability Options: another major headache for the Bitcoin core team is its scalability issues, where the network proves inefficient in transferring high volumes of transactions simultaneously. Litecoin’s technical advantages make it more efficient and have better scalability solutions.
  • Total Supply of coins; bitcoin has a total supply cap of 21 million coins while the litecoin’s supply limit at 84 million, 4X more, and with a block time 4X faster than that of Bitcoin as well.

You May Also Read; What is Litecoin Halving?

How Big is Litecoin Blockchain?

Blockchain Technology as the name suggests is a chain of blocks, where each block on the network consists of a certain number of transactions. You can call blocks as universal ledger where a certain of the transaction are registered which when verified, the blockchain moves to the next block.

We will look at various aspects related to the size of the litecoin blockchain in the following summarized table for a better transaction

  • Block time: 2m 29s

  • Block Count: 1,579,915

  • Block size: 20.045 KBytes
  • Blocks in the last 24h; 577
  • Blocks avg. per hour (last 24h); 24
  • Block Reward: 25 LTC
  • Total Litecoins in circulation: 60,497,975
  • Total litecoin supply: 84,000,000
  • Mining Difficulty: 7,351,251
  • Hash-Rate: 214.84 THash/s
  • Mining profitability: 2.8529 USD/Day for 1 GHash/s
  • Blockchain Size: 21.96 GB

The above table tells us about the various factors associated with the Litecoin Blockchain and its size. The total size of the blockchain is 21.96 GB which would grow as more number of blocks gets mined.

The process of block mining is done by the peers on the network and in return they receive a certain block reward, which is 25 LTC and scheduled for halving on 8th August when it would be 12.5 LTC.

Litecoin is currently among the top cryptocurrency by market capitalization and falls behind Bitcoin, Ethereum, Bitcoin cash, and Ripple.

You May Also Read: Are Bitcoin and Litecoin Same?

Final Thoughts

Litecoin being among the oldest altcoins in the crypto space and still maintains a status quo by being in the top 5, which speaks a volume about the core team behind the network and the whole community. When Litecoin took to the central stage, it promised to improve upon on various aspects which the pioneer Bitcoin failed to address.

Litecoin promises to be a truly decentralized peer-to-peer cashless network with faster transaction speed at negligible transaction fee. The litecoin network also promises better scalability solutions and can manage high transaction volumes on its network without beating a sweat.

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Prashant Jha

As a content writer Prashant believes in presenting complex topics in simple laymen terms. He is a tech enthusiast and an avid reader.

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February 14-15 was a bad day for Bitcoin Cash (BCH) after -1.68% fall

It was bad day for Bitcoin Cash (BCH), as it declined by $-2.09 or -1.68%, touching $122.22. Global Cryptocoin Experts believe that Bitcoin Cash …

It was bad day for Bitcoin Cash (BCH), as it declined by $-2.09 or -1.68%, touching $122.22. Global Cryptocoin Experts believe that Bitcoin Cash (BCH) is looking for the $134.442 goal. According to 2 analysts could reach $314.238796944073. The highest price was $126.63 and lowest of $120.29 for February 14-15. The open was $124.31. It last traded at Coinbase exchange. Aproximately 38,144 BCH worth $4.67M was traded.

For a month, Bitcoin Cash (BCH) tokens went down -3.75% from $126.98 for coin. For 100 days BCH is down -80.64% from $631.45. It traded at $830.31 200 days ago. Bitcoin Cash (BCH) has 17.54 million coins mined with the market cap $2.14B. It has 21.00 million coins in circulation. It was founded on 01/08/2017. The Crypto BCH has PoW proof type and operates under SHA256 algorithm.

Bitcoin Cash (BCH) is a hard forked version of the original Bitcoin. It is similar to bitcoin with regards to its protocol; Proof of Work SHA-256 hashing, 21,000,000 supply, same block times and reward system. However two main differences are the the blocksize limits, as of August 2017 Bitcoin has a 1MB blocksize limit whereas BCH proposes 8MB blocks. Also BCH will adjust the difficulty every 6 blocks as opposed to 2016 blocks as with Bitcoin.

Bitcoin Cash is a proposal from the viaBTC mining pool and the Bitmain mining group to carry out a UAHF (User Activated Hard Fork) on August 1st 12:20 pm UTC. They rejected the agreed consensus (aka BIP-91 or SegWit2x) and have decided to fork the original Bitcoin blockchain and create this new version called “Bitcoin Cash”. Bitcoin Cash can be claimed by BTC owners who have their private keys or store their Bitcoins on a service that will split BCH for the customer.

Specification

https://blockchair.com/

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Not Bitcoin Price, This Time Bitcoin Blocks Hit its All-Time High at 1.3 MB

Source: p2sh.info. This growth in Bitcoin block size has beaten Bitcoin Cash and Bitcoin SV into the ground as crypto enthusiast Kevin Rooke shared, …
Not-Bitcoin-Price-This-Time-Bitcoin-Blocks-Hit-its-All-Time-High-at-1-3-MB

After hitting the peak in December 2017 at $20,000 Bitcoin price might have taken a crash with a new all-time high not expected till 2021, however, according to the latest data provided by Blockchain.com, the daily average block size of Bitcoin has made a new record of 1.3 MB megabytes.

This record has been made possible by the continued demand for the network along with scaling solutions like Segregated Witness (SegWit).

Actually, the blocks mined, that is about every 10 minutes are now regularly bigger than 1 MB which was the limit that existed before SegWit was introduced in August 2017. Last year in July, BitMex research had shared,

“After the upgrade to SegWit in August 2017, although in a much slower fashion than many had hoped, the old 1MB block size limit is slowly starting to fade away.”

Making New Records

About three months back in December, Bitcoin block registered 1.2 MB in size and before that in July, the block size was 1.1 MB in size as shown in the chart below.

Bitcoin average block size 1-year chart, Source: Blockchain.com

Recently, SegWit adoption hit its all-time highs as well. In October 2018, it reached the top but followed a drop only to take another spike in adoption just a few days back.

Source: http://charts.woobull.com

With SegWit adoption rising, Bitcoin is continuously accommodating more transactions. This has been happening while the network fee has been hitting near all-time lows.

Meanwhile, off-chain transactions on Lightning Network are growing rapidly. Currently, the network capacity of lightning Network has reached 687.38 BTC, according to 1Ml.

Source: p2sh.info

This growth in Bitcoin block size has beaten Bitcoin Cash and Bitcoin SV into the ground as crypto enthusiast Kevin Rooke shared,

Bitcoin blocks are now 28x larger than BCH blocks, and 87x larger than BSV blocks.

Avg Block Size (Feb 12):

Bitcoin: 1.3 MB

Bitcoin Cash: 0.04 MB

Bitcoin SV: 0.01 MB

’Big Blockers’ couldn’t even do big blocks right… pic.twitter.com/Fcy6nxlgRZ

— Kevin Rooke (@kerooke) February 14, 2019

But Is it “Proof of Spam”?

However, the point worth noting here is the that the biggest contributor to this uptick in the block size is VeriBlock, whose share is about 20 percent as James Lopp shared,

“Source of the now-highest volume of OP_RETURN outputs has been identified as VeriBlock “proof of proof” miners. They are creating around 20% of all BTC transactions now. Seems inefficient to me; will be interesting to see if the incentives work long term.”

VeriBlock miners posted 783,000 transactions to Bitcoin’s blockchain in December and are on track for 1,500,000 in January. https://t.co/CdIflq8Htu

— Jameson Lopp (@lopp) January 5, 2019

This re-ignited the transaction or spam debate, as Lopp further shared,

“VeriBlock miners posted 783,000 transactions to Bitcoin’s blockchain in December and are on track for 1,500,000 in January.”

“I think if it pays the fee it’s not spam,” said developer Riccardo Casatta before adding, “however VeriBlock made about 1 million bitcoin tx with op_return from the 1st of December 2018, they call Proof of Proof but is it more Proof of Spam? Why more than one tx per block?”

Another Twist

Meanwhile, Bitcoin size debate has gotten another twist. Luke J. a Bitcoin developer, is writing code on the Bitcoin source code in order to reduce the block size to 300 kb. If it does happen, Lightning Network would be the primary beneficiary out.

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 15th)