Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Quote from: windjc on January 07, 2018, 01:21:37 AM

Quote from: Peter R on January 07, 2018, 01:12:06 AM

I view money as a ledger. Or "money as memory," as per the work of Kocherlakota. From this viewpoint, it is the information encoded in the ledger about who owns which coins that is of value. The actual mechanism used to update that ledger is just a technical decision -- which is the best paper to write on? Which is the best pen?

Bitcoin Cash (BCH) and Bitcoin Core (BTC) share the same ledger up until August 1. At this point, the "ledger updating mechanisms" diverged (BCH allowed more information about the state of the ledger to be updated every ten minutes to facilitate growth).

Switching to DOGE would be like ripping up the "ledger of money" because the pen we were using to update it ran out of ink. Instead, just get a better pen and keep updating the same ledger.

So your answer is not a practical one or utilitarian one, it is simply that bitcoin has had more transactional history and BCash stole that history and so that makes Bcash better than other altcoins? Seriously?

That is the reason why preserving the ledger is important -- because money is a ledger. Money is memory.

There are practical reasons that BCH is superior to DOGE or other coins as well. The two big ones being:

(1) There is tens of billions of dollars of installed SHA256 mining infrastructure that mines or is able to mine BCH.

(2) Accepting BCH for payments is trivial for all the companies and payment processors that previously accepted Bitcoin but stopped due to high fees and unreliable confirmations. BCH is a drop-in replacement where as supporting BTC is more complex due to segwit (+ further complexity should LN be viable).