Jeff Berwick On The Bitcoin Vs. Bitcoin Cash Debacle

in #bitcoin7 years ago

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In this video, I talk with Jeff Berwick of The @DollarVigilante at Anarchapulco, 2018 in Acapulco, Mexico about the incredible success of this year's event.

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Many people have been calling Anarchapulco a Bitcoin Cash shill fest. Meanwhile, the vast majority of people at the event believe in Bitcoin Core over Bitcoin Cash. Jeff explains the division and his personal opinions on the matter.

Decentralized blockchain technology is so incredibly unifying in bringing down the central banking system and cutting the strings the banks pull on every single coercion industry on the planet.

The market will decide which wins. The free market is all about competition and innovation. To be able to be the best and provide the best value for the buck. If Bitcoin prevails, that is good. If Bitcoin Cash prevails, that is also good. The free market is always right.

Instead of individuals dividing themselves over what individuals choose to invest in, people should rejoice around the idea of decentralizing the world and breaking free from the governmental and banking paradigm we're suppressed by.

Is Roger Ver doing this? Is Jimmy Song doing that? Who cares? Let's look at the fundamental value of the product at hand and stop wasting so much time focusing on mere voices within the movement.

See the FULL interview here:

Stay tuned for more from WAM at Anarchapulco! Don't forget to Upvote & Follow!


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Thanks for sharing @joshsigurdson, I'm more pro BTC core, but am also a fan of BCH. I think it depends on what each is used for, and that each have unique uses, despite their similarities.

Thanks again for sharing, I would really appreciate your feedback on my latest post.

Yeah, in the end the market will decide. I'm more pro BTC core too, but it's for the vast general collective to decide the demand with their dollar :)

Please have a look under the hood at some point to help get a better understanding of this contentious fork. When that 1mb block gets full and the fees go to the moon, side-chains are not required to have the properties of a blockchain anymore.. It is possible side-chains will be good but it is risky due to the negative environment. Additionally, this problem was added and was not necessary at all. Trust has been introduced where no trust was needed before.

https://steemit.com/bitcoin/@modprobe/i-looked-into-segwit-and-here-s-what-i-saw

If you have not meet Nathan (modprobe), he lives in Mexico. I'll be happy to introduce you next year.

Rodger Ver needs to deal with some anger which is IMV driving him a little astray (for example: I would expect to see him non-adversely affected by name calling and stay focused on a higher purpose). Rodger is coming from a better place though and for me he is trust worthy when it comes to understanding freedom and the freedom mechanics of the blockchain. Again though I would like to see him understand the ego better and rise above it...

Hi James, wish we had chatted more at this years Anarchapulco conference.

Thanks for @modprobe link that explains why he supports BCH over BTC.
While staying at his place he described it as BTC is a Milk container that is filled with water. BCH is the real milk in a disguised carton/name.

I am very eager to hear or read your blog on your experience of doing ayahuasca. please share :)

I have posted about a meditation spot in Aca and will be posting Acapulco Realestate opportunities that I have found.

Hope you find them interesting.

Take care my friend!

Exactly! That's exactly how I feel: it's up to the people!

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I need your help
My missile development project was in trouble.
The muddled Yankees sanctioned us
The Yankees are going to make my country the next Syria on the ground of missile development
Now I need your help
I need your praise
I need your support
This is my XML donation address: 43RXmnyBdR9F2jubkKi95bNqGH1bxnJARRSD3nSzgmrZGgzDqa3MDsufjacLQGbMCECN8v5JrYTeyHztVQQt7EzX4eoS5uE

Yep! It doesn’t matter which crypto brings down the current system as long as it goes down!

Exactly! A message to unite behind!

Ya gotta see the big picture! 😆😂🤣

Great interview. Can’t wait for Anarchapulco 2019...

The hate from BTC supporters to Bcash supporters makes a lot of sense. A few months ago there was clearly an attack to take over the dominance of BTC and for a moment they almost managed to damaged BTC hugely. This was the biggest attack on BTC in its history and it came from crypto people itself!

The attack that I talking about was the cancelation of 2X, a huge social media Bcash shill storm, extreme spamming of the BTC network exactly at the moment that the EDA flaw in Bcash was causing hyper inflation that made mining Bcash way more profitable.

Because this FLAW Bcash was able to take 70% of the miners from BTC (so because of a flaw in combination with market manipulation, not free market forces!) This was a HUGE risk and the price dropped down from around 8000 to 5500 within a day. I am all in in BTC and Bcash supporters made my net worth drop by around 30% in a day because I am all in in BTC. Do I have a reason to hate Bcash???? HELL YEAH, they attacked my life savings by cheating and manipulation! F*ck Bcash!!!!

@michiel what do you think about Bitcoin Atom?

BCash doesn't exist. BCash is a proposed fork of ZCash.

Bcash Bcash Bcash

You know there are people who held their life saving in Bitcoin and that were furious on the development going nowhere except making things worse from their point of view as well right? For some of these people Bitcoin Cash as such was a life saver.

Maybe we should put those of you from both camps who like to yell and scream in the same room for a little while and then rest of us can go work on solutions together.

Is working on solutions together flagging comments without discussion or at least telling the reason for that behavior?

There is no requirement that everything we do is a collective action.

I downvote whenever I see something that paints with too broad a brush leading to great misdirection or harm for example and that's both my right as a stakeholder and also nothing anyone can stop. "Flags" is a Steemit specific concept that I don't think should be recognized just because we use the Steem blockchain.

Unlike on r/Bitcoin for example, here you won't be banned simply for expressing a positive opinion about BCH, or in fact for doing anything. But you are gonna have to deal with the votes of stakeholders with other opinions than you.

You didn't expressed a positive opinion about BCH and didn't do anything either. You just flagged instead of having a conversation with some arguments.
But whatever. I don't think it's worth talking to you furthermore....

I've expressed myself enough in comments here already. Also, downvotes are indeed a form of expression.

Edit: Ok, I've left a comment under your initial message here now just to explain some of my disagreements if they were not already known to you.

But that's enough for me currently. Leaving comments to explaining every action takes precious time out of my day, as I'm sure it does for you too.

I like both BTC and BCH, I think for now they have different use cases, BTC is currently used as a store of value, whereas BCH is used a digital cash with fast transactions and cheap transaction fees. I don't say it will always stay like this, but for now it is.

Gold is only valuable because it has a use case. A store of value is valuable because it has a primary use. Gold is useful as currency, electronics, jewelry, teeth, etc. So it makes a good store of value. Nothing is a store of value if it doesn't have a primary use. Bitcoin Cash is both a store of value and a useful cryptocurrency. Bitcoin core is losing it's store of value. Because it's not a store of value if it doesn't serve a higher purpose too.

Roger Ver is selling BCASH as BTC on bitcoin.com.
He is just poison for the whole crypto scene.

I won't defend or explain Roger Vers actions here. He can speak for himself and he's far from perfect.

"BCash" was a term introduced to confuse users about what Bitcoin Cash is, which has been excused from the start by claiming that it's fair since Bitcoin Cash is "confusing users about what is Bitcoin" and "stealing the name" etc. Participants in the anti-"Bcash" campaign created fake social media accounts, fake subreddits, spammed "Bcash" all over social media etc, just to make sure no one called it anything "Bitcoin" and so that information would be scarce and misinforming.

There had been plenty of non-controversial projects previous to BCH that used the "Bitcoin" name and in fact the full name Bitcoin Cash was chosen specifically for the purpose of not confusing further by simply calling it "Bitcoin" right out of the gates. It remains no secret however, that many Bitcoin Cash users consider it to effectively be Bitcoin.

Personally, I wouldn't mind the name, except there has already been plenty of E-Cash projects previous to Bitcoin Cash that actually used that particular name. Examples would be variances on Bmoney and some payment processor companies that have nothing to do with distributed networks.

I've still got more BCH than BTC! Let's go Roger Ver!

I would be neutral on BCH if it hadn't been pumped by every shady trick in the book in order to sell an altcoin to intentionally confused people, esp noobs.

The fact that Berwick was willing to overlook all of that because of the dangling carrot of 'blockstream : Bilderburg : yada yada' has greatly reduced his credibility on things crypto and probably everything else. He made an emotional decision and probably led a lot of folks down a dead end path.

Bitcoin Core Supporter Tony Vays and Jimmy Song did not show up.

Interesting. (Minute 4:40)

And Vays called POS Berwick out as a scammer. Which he is. 100’s thousands stolen from people and never returned. He is the most dangerous type of scammer as he is good at what he does.

His "Galt's gulch" project was a total scam.
One of many.
The man is a flim flam, Janky promoter.

if he is a scammer, why does he still has good ratings?

They were even offered free travel tickets and free lodging, and in good will for a dialogue, yet failed to show up. There was one Juan, keep saying the domain name bitcoin will confuse others. Its rather silly and annoying, perhaps even childish. I will register JuanSGault dot com then write something. Does it mean it will confuse people? Rhetorical question.

Yes it does confuse people. This is like Pepsi buying Coke.com to sell Pepsi, get it? Obviously not, another rhetorical question in the bcash trash book!

Bitcoin was taken over by oppressive, special interest group so it had to be saved by creating BCH....

I would hesitate to call them special, but they definitely have an agenda. They are a bad interest group. Have you seen the involvement of who infiltrated Blockstream?
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Do you get a chance to ask Jeff about the scams he is involved with?

Although he brings up some good points I would still not invest into a centralized and manipulated coin.

Your media production has been next level lately. Its amazing to see all these big names and serious topics being covered. Keep showing the power of independent media brother.

The banks bought bitcoin
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This really is irrelevant, true or not. Just look at the technology. Bitcoin Cash is what the design paper presented and has a lot of the great early developers involved.

Bitcoin "Core" or "LS" can work out just fine. Lightning Network can become the go to solution and the LS chain is not used except for settlement, or perhaps at some point the chain becomes useful for regular transactions for good again and then there might be two great coin projects developing simultaneously.

We'll have to see what happens.

I believe Bitcoin Cash will scale soon. It has already been tested safely at 7,000,000 tx's per second. It's the only blockchain that can scale that way. That's faster than Visa. Also faster and more scalable than Nano, Ripple, Steller, etc

As far as lightning, implementation is a long way off. And, time waits for no man. What did you mean by LS?

Agreed. Bitcoin LS (Legacy+SegWit) is the "Core" blockchain alone, not including the Lightning Network.

I see. Yeah, different people call it different things now. I call it Bitcoin Segwit sometimes because it is a segwit fork.

Good job,everyone is looking forward to your next work

I don't know why there is even an argument about which coin is the real bitcoin. If bitcoin cash was bitcoin it would be called bitcoin

Ever wondered why your salary is called a salary yet does not feel like salary to you? Matrix rhetorical question here, own reflection to find the truth.

Who cares about Bitcoin?

Outdated since Litecoin.

Ltc is nearly identical to btc.

Steem is better than both of them. Instant transactions. Free transactions. Social Media. Person to person interactions. Rudimentary communication in blockchain memo possible. Possible secret messages with encyption. Steem is much better because it gives the user more usability.

A lot better, dash, Zcash, Nano all of theses are all the way up.

A bit better, so better.

Honestly I have a hard time taking "Chikun" coin seriously. Maybe one day it will be more than a meme coin used for transactions when BTC doesn't work, but so far I don't see much use for it.

The LTC communitys own ambition is to be second place to Bitcoin, perhaps more so than they were at first. But still.

Great interview. No more central banks.

I am not sure why all the hate on certain coins. I get it that some are scams, and those should be called out for the protection of the community. But I am seeing way too many people blasting coins they do not like for personal benefit of what they do like. Too much FUD being spread and it is not helping the community as a whole!


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Thank you for sharing! I have been investing in bitcoin for a few years on a small level and want to start investing in mining heavily. I appreciate you wisdom.

The best approach is to hold both BTC and BCH. Use BTC as a store of value asset and BCH as a medium for affordable and fast exchanges.

Now there is Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoind Diamond, BitcoinZ, Bitcoin Atom, Bitcoin Plus. And probably a whole bunch of other projects using and possibly abusing the name Bitcoin.

Amazingly some people assumed Obama and Osama are related or in cahoots. There you go for proof of stupidity. Every day people get hoodwinked by John, Jack, Jill. It's just a name, a label. Find out what you are seeking yourself.

99% of forks were attempts to confuse useres and disincentivize adoption of Bitcoin Cash. Same as with the "Litecoin Cash" fork.

Claims of fraud used to excuse blatant acts of fraud.

But which has the original blockchain and follows the white paper?Bitcoin.jpg

This is really a bullshit image. The first of August Segwit got implemented with the support of about 99% of the miners. The same moment Bcash forked off with a tiny minority. A fork is originally an update of the network, and the vision of Satoshi is that an update only happens when there is a majority supporting it. So Bcash is a failed upgrade (no consensus at all) and Segwit is a successful upgrade. Bcash is clearly an altcoin, and a useless one (Litecoin and Dash are way faster).

You make some statements which are true, but most of it is false.

An altcoin is something which is not Bitcoin. What is Bitcoin then? That's what the design paper explains.

You can't simply rely on hashpower, number of transactions, market cap metrics, popular opinion etc, or else any coin could be Bitcoin if they just gained those metrics.

"Bcash" is an orchestrated attempt at confusing users. The fork is called Bitcoin Cash, so why not use that name? The name was after all chosen in order not to confuse uninformed users more than necessary. Otherwise it would have been called Bitcoin straight out of the gate.

I don't focus on Bitcoin. Untill BTC has a serious upgrade to me personally it is boring. Sure BTC was the first. The door opener. But there are over 1000cryptos now. Many with a much better project than BTC. Steem, Sia Coin, Iota, Eos, Reddcoin are great.
Don't you make me use this_ you motherfucker you!.jpg

Not a good visual. Gives false impressions, as much as I think Bitcoin Cash is "the real" Bitcoin.

It was still a minority (hash power, but also in terms of support) fork that took place after years of issues in expectation before SegWit got put in.

The confusion on this topic is very unfortunate.

But segwit was a fork. Bitcoin Cash was going back to the original path. What happened to my picture? It's confusing to anyone trying to understand now. And, it illustrates exactly what happened. It didn't claim to be bitcoin. I did. But it just showed the Bitcoin forks.

The confusion comes mainly from that it looks like the two forks happened at the same time. In order to make it accurate you would have to show both when SegWit was expected and later when it was forked in after the Bitcoin Cash fork had already taken place.

That would be a great visual, if we had it.

Yeah, I see what you mean. The purple represents segwit. But, segwit wasn't implemented until after the Bitcoin Cash forked. I think it was implying that segwit had been deteremined prior to the fork so Bitcoin Cash forked away to avoid segwit. I still think it demonstrates that Bitcoin Cash is a continuation of legacy blockchain. While Bitcoin LS did a softfork. A softfork is really worse. It takes the whole chain with it and most users have no choice in it. They should have done a hard fork for segwit if they really believed so strongly in it. And, left Bitcoin alone. That would have kept this from being confusing to people.