Falsifying the log growth model of Bitcoin value by Nick ...

Bitcoin - The Currency of the Internet

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
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Bitcoin - The Internet of Money

/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. 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. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
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My Takeaway from the Roger Ver + Bitcoin Error Log Interview

My Takeaway from the Roger Ver + Bitcoin Error Log Interview submitted by gr3yguy to Bitcoin [link] [comments]

My Keybase proof [reddit:bitcoin_error_log = keybase:bitcoinerrorlog] (9uw0OLuTMI9hqTtj1YJ7ZaUzS-lhthrZBerkljCUK68)

Keybase proof

I am:
Proof:
hKRib2R5hqhkZXRhY2hlZMOpaGFzaF90eXBlCqNrZXnEIwEgHdNwDfXmXWoBfW97z8maNaCwWRRVjfn5raX+TCtYFwMKp3BheWxvYWTESpcCLsQgKXcGaYtCdLY2ILlct++jJqYMxkVjLM8eep10IiaLpAnEILKVVQPqD2zB9gem/bKHcBJ1qbt92CH/4ilSPxFJOYXLAgHCo3NpZ8RA1A+VdpY7Dv26nlvf/IuTU6h/QU5gFuzg/GfPDS8PKLW0UIHNjSz29mkN40jDDVOnfnlF8604J7xlqSJUjdleBqhzaWdfdHlwZSCkaGFzaIKkdHlwZQildmFsdWXEIJxIfZDdoagT16e5bo3mHyWuBtjxsBimv9EfTHicv8Rbo3RhZ80CAqd2ZXJzaW9uAQ== 
submitted by Bitcoin_Error_Log to KeybaseProofs [link] [comments]

Why the Bitcoin Error Log Interview is Important

In a recent interview between John Carvahlo, CEO of Xotika and owner of the YouTube channel Bitcoin Error Log, and Roger Ver, millionaire Bitcoin investor and owner of the web domain bitcoin.com, tensions rise to all time highs much like the price of the coin these two individuals sponsor. In this near 45 minute interview that was cut short due to the latter “Rage-Quitting”, a lot was revealed from the core philosophies surrounding both Bitcoin and Bitcoin Cash in the 2017 market of crypto currencies.
The interview begins and ends with a discussion over the name “Bcash” which was infamously given to Bitcoin Cash by its opponents in the crypto-sphere. Bitcoin Cash was given the name Bcash by the Bitcoin community so as to not create confusion between the two coins as well as to anger the supporters of Bitcoin Cash; a tactic which appears to be quite effective as demonstrated in this interview. To be fair to Roger Ver, Carvahlo did seem a bit unprofessional by not trying to avoid calling Bitcoin Cash Bcash or by getting equally as heated as Roger Ver, but it’s a free market and there are no rules or laws that prevent him from doing as he pleases.
On one side we have Roger Ver, vehemently defending the honour of Bitcoin Cash as the truest form of the white paper created by Satoshi Nakamoto. On the other hand we have John Carvahlo who seems to use the term Bcash to delegitimize the claim that Bitcoin Cash is the true Bitcoin, to avoid confusion between the two coins for any newcomers to the crypto currency space and to annoy Roger Ver. Through out the rest of the interview, between overlapping rebuttals, some bits of information are dropped that reveal a lot about the true intention of one party in particular.
For starters Roger Ver claims that Bitcoin is a peer-to-peer electronic cash system to which Carvahlo disagrees as the presence of nodes on the network suggests otherwise. And I have to agree with John Carvahlo. Nothing on the Internet is truly peer-to-peer. The Internet itself suffers from forms of centralization between Internet Service Providers and the regional nodes they get the Internet from. The Internet in 2017 is void of any direct communication between peers; there are always middlemen in between. This brings up another topic discussed during the interview, whether or not Bitcoin as a network is truly decentralized.
For starters, Roger Ver claims that varying degrees of centralization are acceptable within the network and he expects the network to become more and more centralized as the growth of Bitcoin continues. To which I half agree. I think anarchy as governance is flawed; some political structure is necessary, such as Athenian democracy. Yes the Internet’s structure as well as that of the Bitcoin network, with the nodes and the ever-increasing difficulty of mining, can both guarantee that the Bitcoin network will never be truly decentralized and peer-to-peer. But what is worrying is what degree of centralization Roger Ver is ok with; and that is the heart of the scaling debate.
​Yes at times the Bitcoin network suffers from slow transaction times and high fees. Yes scaling is a problem with a desperate need for a solution. No, increasing the block size is not the answer.
​First, lets dissect Roger Ver’s position on bigger blocks. He claims that over the last 7 to 8 years, the Bitcoin blocks have scaled successfully and that empirically, it is a proven scaling solution that will lower transaction fees and times. The problem with that is his premise that Bitcoin has been scaling since the beginning is completely wrong and paints his cause in a preferred light. Bitcoin has not been scaling since 2009. When Bitcoin was created, within the code a block size limit was written. The block size limit has to be defined for blockchain to work because that would be a coding error. It would cause network stalls during periods of high traffic where a block could in theory never fill if enough transactions are being sent to the network at once. This is what is known as a Sybil attack. So from a certain point in time early in Bitcoin’s development, a block size limit of 1MB was coded into Bitcoin. Roger Ver claims that over the years, the block size grew from 1 KB to 2KB, so on and so forth until it reached the 1MB block size but that is wrong. The blocks always had room for 1MB but were very small due to the amount of transactions present in the mempool. That’s like saying my 100 mL cup that is half filled is actually a 50 mL cup because only half of it is being used. It’s still a 100 mL cup. And this is important because it proves that bigger blocks as a scaling solution has not been empirically tested. Which is why an “altcoin with a smaller market cap is being used to test new features”; it’s called Bitcoin Cash.
Another point that was not talked about during the interview is how bigger blocks cause greater miner centralization, the most critical flaw of the bigger blocks approach. With ASIC’s and ASIC Boost, it has become incredibly difficult for any individual to start mining Bitcoin for a profit. A large upfront investment into specialized mining hardware is required in order to generate a profit. This means that mining or the process of validating transactions is becoming more and more reserved to wealthy individuals. And this is apparently, arguably bad; at least Roger Ver seems to be ok with varying degrees of centralization. Except the whole point of crypto currencies is that no individual or no individual group should be able to control the network for their own self interest; we have fiat currency for that. So then when increasing the block size, yes more transactions are able to be processed in one block which does reduce fees and settling times except that bigger blocks are harder to mine, pushing the mining process further into centralization. It’s also a temporary solution because with the growing number of Bitcoin users, a bigger block size limit will be reached requiring another hard fork to increase the block size limit. This is like adding lanes to a highway because too many drivers are present on the road; it’s a bandaid solution that avoids the root of the problem.
This interview is important because between the well-rehearsed lines and the pressing questions, within his off-script bouts of rage, the true Roger Ver shines bright. Roger Ver talks about Bitcoin as if it’s a company. He criticizes the Core development team because since their arrival into the space, he claims that the market cap of Bitcoin has been “bleeding out” and that it’s losing its market share to altcoins, pointing to its drop in market dominance as proof. He might be right, or perhaps more and more people are looking at the wealth of early Bitcoin adopters and are trying to get rich from altcoins that could see similar growth. Or maybe it’s because altcoins aren’t direct competitors to Bitcoin and are using blockchain to solve real world problems and people are seeing their value. Regardless, he also argues that not anybody is able to contribute code to Bitcoin. And all of this is a twisted version of reality that pushes his agenda. Anybody today can write code for Bitcoin, and through community consensus can have it implemented. Roger Ver did not have the opportunity to defend his claim during the interview, but I think it’s apparent that because block size increases have been repeatedly shut down by the community, he claims that nobody outside Core can contribute code to Bitcoin. That’s just not true. Segwit, a Bitcoin feature added through node consensus, is allowing for the lightning network, a layer 2 scaling solution, to be independently developed by passionate members of the Bitcoin community. The very idea of a BIP (Bitcoin Improvement Proposal) was proposed and implemented by a community member. Roger Ver also often refers to permissions on the GitHub repository as “the keys” as if any one person can own the network like a house. This is false. The reason why the core developers code is widely accepted is because the community supports the work they’re doing. Roger Ver says it himself: he believes we need to let the market decide what coin is the true Bitcoin. Except that it already has. If people wanted bigger blocks, Bitcoin Cash would be called Bitcoin. It is also worth noting that the market has decided multiple times that it does not want to increase the block size as other Bitcoin forks that Roger Ver has supported in the past, namely Bitcoin Classic and Bitcoin Unlimited, have failed.
Roger Ver claims that people who call Bitcoin Cash, Bcash have been brainwashed by its opponents. He believes that Segwit is adopted by brainwashed individuals. As if nobody in the Bitcoin community can think for themselves; we’re all just sheep waiting for a shepherd like Roger Ver to tell us what’s right. Except that by purposefully misleading newcomers to the crypto space by calling his website that supports Bitcoin Cash, bitcoin.com, by misleading the newcomers by not clearly explaining the differences between Bitcoin Cash and Bitcoin on the wallet app his website sponsors and by also calling Bitcoin, Bitcoin Core or Bitcoin Segwit, he’t not only being a hypocrite for criticizing Carvahlo for name calling, he’s also issuing his own brand of brainwashing instead of letting new users decide for themselves which coin is the real Bitcoin. If his claims that Core and Core supporters are brainwashing people were true, Roger Ver would be just as guilty of doing this.
A final point I would like to make is how both camps view Bitcoin philosophically. The Bitcoin supporters mostly view Bitcoin as a store of value while Bitcoin Cashers view Bitcoin as a peer-to-peer digital cash. And I want to point out that Bitcoin fails tremendously in its current state at being a dollar killer, a digital cash. Bitcoin as a store of value has succeeded tremendously. People all over the world are using Bitcoin to have value traverse borders with ease, to send value to loved ones without going through Western Union or as an investment vehicle. In that sense, Bitcoin is truly like digital gold. As a currency, it has seen some success in terms of adoption. Many merchants accept Bitcoin as a form of payment. You can even buy airline tickets with Baltic Airlines via Bitcoin. But, in my opinion, neither Bitcoin nor Bitcoin Cash could today successfully replace fiat currency. If today either coin were adopted globally, both coins in their current state would face tremendous scaling issues, causing insanely high transaction fees and slow confirmation times. The lightning network is showing more promise than bigger blocks as it doesn’t push miner centralization, it actually decreases the amount of transactions on chain but it has yet to be seen if this solution will work. Without scaling as an issue, both coins also suffer from a deflationary problem, which many economists argue disqualifies most crypto currencies as a good fiat replacement. That however, is a different topic.
The scaling debate should not be a debate anymore. The community has been offered a currency with larger blocks, lower fees and faster settling times, time and time again. It had Bitcoin Classic, Bitcoin Unlimited, Bitcoin Cash and Segwit 2X to decide and the answer has been an astounding no. If users truly desired a coin that fit this description, Litecoin would lead the crypto currency market, or any other crypto currency like it. But the fact is Bitcoin in its flawed state leads the pack and nobody today uses Bitcoin as a digital cash as Satoshi Nakamoto intended. Just like nobody avoids eating shrimp and other crustaceans because the Bible said it was a great sin. I believe the topic on crypto forums should no longer be scaling as Segwit is being adopted through consensus and the Lightning Network is imminent. If it fails to scale Bitcoin, then we’ll go back to the drawing board. I think the true debate should be whether the community wants Bitcoin to truly be a replacement for fiat currencies or if it should remain a store of value like gold.
Either way, this interview gives the crypto community a glimpse at the real Roger Ver, a used-car-salesmen type who rehearses his lines and changes definitions to paint his cause in the proper light. A guy who is ok with Bitcoin becoming centralized. A guy who likes to flash his cash and likes to belittle others for making less money than him and for operating legitimate businesses within the sex industry. A guy who disagrees with the decisions the Bitcoin community has made over the years so instead of creating his own currency and leaving the Bitcoin brand alone, he constantly pushes a skewed narrative of Core and Bitcoin and how it’s flawed. How Bitcoin Cash is the true Bitcoin. He acts like a paternal figure, knowing what’s best for the community despite it’s previous choices and loses his temper when it’s evident he doesn’t have control; like an abusive lover. If his intentions were honest, why would he try to steal the Bitcoin brand? Why would he try to tarnish the name of the thing that gave him a large part of his wealth in the first place? Personally, it seems to me like he’s that kid at the playground, the one that nobody wanted to play games by his rules. Instead of finding someone else to play with, he tries to manipulate others, takes fits when he doesn’t get his way and ultimately decides for everyone that if he can’t have his way, then nobody should.
submitted by TheRebelOfBabylon to Bitcoin [link] [comments]

T-shirt of Roger Ver Pissed Off about "Bitcoin Error Log" calling Bitcoin Cash, Bcash 😂

T-shirt of Roger Ver Pissed Off about submitted by S4705H1 to bcash [link] [comments]

Bitcoin Error Log with Roger Ver Live Debate

Bitcoin Error Log with Roger Ver Live Debate submitted by AliBongo88 to Bitcoin [link] [comments]

Roger Ver vs Bitcoin Error Log - Bitcoin Scaling Debate (Plus An Apology)

Roger Ver vs Bitcoin Error Log - Bitcoin Scaling Debate (Plus An Apology) submitted by fruitsofknowledge to btc [link] [comments]

Why the Bitcoin Error Log Interview is Important

An opinion piece I wrote. Hope you’ll give it a read. The last two paragraphs summarize my thoughts. https://www.reddit.com/Bitcoin/comments/7g3q3x/why_the_bitcoin_error_log_interview_is_important/?st=JAJQBKX6&sh=33ba4973
submitted by TheRebelOfBabylon to btc [link] [comments]

T-shirt of Roger Ver Pissed Off about "Bitcoin Error Log" calling Bitcoin Cash, Bcash 😂

T-shirt of Roger Ver Pissed Off about submitted by S4705H1 to BitcoinCashLol [link] [comments]

What's the FUD with SegWit?: FluffyPony, Bitcoin Error Log, and Jason Seibert discuss.

What's the FUD with SegWit?: FluffyPony, Bitcoin Error Log, and Jason Seibert discuss. submitted by vakeraj to Bitcoin [link] [comments]

Roger Ver vs Bitcoin Error Log - Bitcoin Scaling Debate (Plus An Apology)

Roger Ver vs Bitcoin Error Log - Bitcoin Scaling Debate (Plus An Apology) submitted by fruitsofknowledge to AllTheBitcoins [link] [comments]

Bitcoin Error Log with Roger Ver Live Debate

Bitcoin Error Log with Roger Ver Live Debate submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Roger Ver vs Bitcoin Error Log Interview [TL;DW]

submitted by BitcoinAllBot to BitcoinAllTV [link] [comments]

Why the Bitcoin Error Log Interview is Important /r/Bitcoin

Why the Bitcoin Error Log Interview is Important /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/btc] Roger RageQuit's Bitcoin Error Log over BCash

The following post by 2johngodden is being replicated because the post has been silently removed and some comments within it have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ btc/comments/7fwwj6
The original post's content was as follows:
Wow, this was an explosive interview:
https://www.youtube.com/watch?v=OJT2CbfHTpo
Let's see how the censorship on rbtc works.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Roger Ver´s lies exposed: Bitcoin Error Log

Roger Ver´s lies exposed: Bitcoin Error Log submitted by Bitcoin_Bug to BitcoinTV [link] [comments]

11-29 11:43 - 'Roger Ver VS John "Bitcoin Error Log" Carvalho - emotional part' (youtube.com) by /u/nophreedom removed from /r/Bitcoin within 18-28min

Roger Ver VS John "Bitcoin Error Log" Carvalho - emotional part
Go1dfish undelete link
unreddit undelete link
Author: nophreedom
submitted by removalbot to removalbot [link] [comments]

Bitcoin Error Log with Roger Ver Live Debate

submitted by BitcoinAllBot to BitcoinAllTV [link] [comments]

11-28 02:23 - 'Roger Ver vs Bitcoin Error Log Interview [TL;DW]' (youtube.com) by /u/milezteg removed from /r/Bitcoin within 154-164min

Roger Ver vs Bitcoin Error Log Interview [TL;DW]
Go1dfish undelete link
unreddit undelete link
Author: milezteg
submitted by removalbot to removalbot [link] [comments]

Roger Ver VS John "Bitcoin Error Log" Carvalho - emotional part

Roger Ver VS John submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Roger RageQuit's Bitcoin Error Log over BCash /r/btc

Roger RageQuit's Bitcoin Error Log over BCash /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Roger Ver VS John "Bitcoin Error Log" Carvalho - emotional part

submitted by BitcoinAllBot to BitcoinAllTV [link] [comments]

Roger Ver vs Bitcoin Error Log - Bitcoin Scaling Debate (Plus An Apology)

Roger Ver vs Bitcoin Error Log - Bitcoin Scaling Debate (Plus An Apology) submitted by fruitsofknowledge to Bitcoincash [link] [comments]

Bitcoin Error Log with Roger Ver - YouTube Bitcoin Error Log interviews Michael Dubrovsky, PoWx

Dismiss Join GitHub today. GitHub is home to over 50 million developers working together to host and review code, manage projects, and build software together. Listen to _ “Bitcoin Error Log” _ SoundCloud is an audio platform that lets you listen to what you love and share the sounds you create. Thanks for contributing an answer to Bitcoin Stack Exchange! Please be sure to answer the question.Provide details and share your research! But avoid …. Asking for help, clarification, or responding to other answers. The Bitcoin supporters mostly view Bitcoin as a store of value while Bitcoin Cashers view Bitcoin as a peer-to-peer digital cash. And I want to point out that Bitcoin fails tremendously in its current state at being a dollar killer, a digital cash. Bitcoin as a store of value has succeeded tremendously. People all over the world are using Bitcoin to have value traverse borders with ease, to ... The Gates of Bitcoin don’t actually exist. They are an imaginary construction that exists only in the minds of those that are a slave to those that imagined it. As a permissionless…

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Bitcoin Error Log with Roger Ver - YouTube

Bitcoin Error Log interviews Michael Dubrovsky, PoWx about his efforts to improve on the #Bitcoin mining proof of work and challenge the centralization of mi... Try watching this video on www.youtube.com, or enable JavaScript if it is disabled in your browser. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. John Carvalho, AKA BitcoinErrorLog, has been a Bitcoin enthusiast since late 2012. John is CEO at Xotika.TV, a Bitcoin-only adult social video platform. Plea... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

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