This is a copy of my answer on the Question "Why No Bcash?" one asked me on fb crypto group in Cambodia.
Dear Ben,
Roger Ver and Jihan Wu launched their private, centralized scamcoin 1st august 2017 as Segwit was being implemented on Bitcoin.
Holding full bags of Bitcoins each, they self-offered themselves as many extra full bags of their new coin.
The Fed calls this Quantitative Easing, creating value out of thin air.
SegWit fixes transaction maleability bug/weakness.
BCH did not fix it.
BCH is the only fork which did not implement a strong 2 way replay attack protection, and many people lost their btrash while sending them to BTC adresses (Hey, Roger told them they bought Bitcoins!!! ... ya, but the cheap version!)
SegWit blocks Covert ASICBoost technology which is an efficiency optimization tech patented by Bitmain (Jihan), so with Bcrash, they can continue to keep their mining advantage on the network and that's the main reason they launched btrash.
Wu-Ver directly or indirectly owned mining pools control more than 50% of bcrash mining and the "51% attack" was the main fear 3-4 years ago.
Bscam is centralized in mining and as well most nodes are hosted on Alibaba cloud servers (controled by Ver-Wu).
They claim bcrash to be Faster while both BTC and BCH have 10 min blocks.
They pretend transactions are cheaper, 1-2 sat/byte in both cases, true that bscam is 1/7 of BTC in USD value which makes it cheaper compared in Fiat currency only.
They pretend to have adoption.. Not so true!
As example, I do welcome payments in cryptos with 10% discount at Auberge du Soleil in Kampot, Cambodia since 2014 (www.facebook.com/soleilkampot) and as you can feel me, I do refuse bcash payments as most other merchants I know in Cambodia and Switzerland.
Banks and institutional investors don't even want to hear about it.
The "Smart Money" is going to BTC ETH XRP...
No SegWit = No 2nd layer solutions, no Atomic Swaps, No Smart Contracts... Just a closed centralized system where some layers of Security implemented in Bitcoin's code have been stripped away...
Now I have a personnal hate against Roger Ver and bcash as few other "earlier investors and users":
Roger Ver controls bitcoin dot com domain name while www.bitcoin.org is the original info website about Bitcoin.
The wallet he proposes on his site uses BCH as 1st choice while he speaks about bitcoin forgetting to mention "CASH".
He controls a youtube channel as bitcoin dot com and @ bitcoin on twitter...
All this shows me a vicious Oedipus complex!
He is Misleading and Confusing newbies.
I wouldn't care about his altcoin if not pretending to be the Original Bitcoin, Satoshi's vision, etc
Roger was known as "Bitcoin Jesus" as early massive investor and "preacher".
Not clear the link he had with MtGox...
Now abuses of the connection his name has with Bitcoin to sell his VerCoin.
Look at his personnal history...
Scammer one day Scammer every day!
Imagine he was P.R. for Coca-Cola...
He learns a lot form this top1 company...
He leaves and launches Ver-Cola, but pretend it's the original receipe by the pharmacist, uses Coca-Cola labels, speaks about it as The Real Coca-Cola, etc... (and calling the Original Core-Cola!)
Hey, some like Pepsi, some like Virgin, some like their supermarket's brand, a cola is a cola, which one is the best?
One for sure has a stronger network, reputation, history, adoption...
In which would you invest?
We can buy Levi's jeans copies for $5-$10 here, and the seller will swear it's original, it has most original stickers and signs, but the cut is usually shitty and the quality is a joke...
Bcash is a Khmer market's $5 Original Fake Levi's!
He has the right to pretend he made a "better" bitcoin using one direction to scale by stretching the block size.
Now his max 32Mb blocks are actually used with less than 500kb as no usage... and 128Mb fork is planned...
Imagine the size of the blockchain with huge blocks, knowing that each full node has to download, host and amend the whole size blockchain. This limits the common Joe as hosting the blockchain will be using too much space, needing more expensive storage...
Not exactly the democratic "Satoshi's vision"!
I am happy some devs decided to launch Bitcoin Core BTCC, so now Roger has a problem about labeling Bitcoin.
SegWit allows nearly 4Mb of data while keeping the backward compatible protocol based one 1Mb blocks.
Lightning Network is live on Bitcoin, you can now pay instantly at zero fee!
BCH has less transactions than Doge coin which originally was a joke!
Bcash is really have a pump&dump coin targeting unsawy newcomers,
and Why Litecoin?
I could have said ETH XRP ADA EOS ZEC DGB, etc, but I have to admit a sympathy to this "historical" coin.
Litecoin is a fork of Bitcoin launched in 2011.
This one is the real Petty Cash to buy a coffee, it never pretentiously advertized itself as the Real Bitcoin but as The Silver of Cryptos, vs Bitcoin being the Gold.
It has the strong security as Bitcoin and most developments can be implemented on it (when not first on LTC).
With LN we can have Atomic Swaps between LTC, BTC and a few other coins meaning you can pay in LTC and the merchant will get i.e BTC.
(I'd have to check again which coins can be swaped, I believe it was Verge who did the 1st Atomic swap with LTC..)
LTC's blocks are 2,5 min making it 4 times faster and it offers cheap transactions as well.
I am not the only one who believes LTC will sooner or later have the value of 0,2 to 0,25 BTC...
XRP is also interesting and I see there a higher raise in value than most others due to the fact Ripple Labs is targetting Banks and Money Transmitters (while not all use XRP..)
And if BTC is the quite the secure "Family's father investment" there are many other valuable Honnest projects with possibly better profits to be made.
So at the end, the question is:
Are you here for the Technology, Evolution of Humanity with profits on top?
or just as short term pump and dump trader looking only at quick profit.
I believe and consider Honesty finally always pays!
Karma...
I prefer to support, invest in Honnest projects.
There are many interesting, promising projects which have been or will be launched by ICOs, and there are some forked coins which solve a problem or offer a new solution.
These words are only my personnal interpretation of the quite wide information I go through every day since a few years, I might be wrong or have misunderstood/misinterpreted some infos...
I am not an investment advisor.
I am mostly accumulating, hodling and as well using Bitcoin since 2013.
I have a diversified cryptofolio with about 50% BTC 50% Alts. But each alt I hold has a project or use I consider to be legit, honnest and inovating.
Now a pump and dump trader can make huge profits on any (scam)coin, and why not?
Still I consider one profits by hurting another...
Be Welcome if you come to Kampot, I'll be pleased to have a talk with you as with most cryptoiners ;-)
