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BullishElon Musk on Bitcoin Cash: “Fair point” (i.redd.it)

submitted by Egon_1Bitcoin Enthusiast

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[–]Egon_1Bitcoin Enthusiast[S] 45 points46 points  (0 children)

Source https://twitter.com/elonmusk/status/1374989895039508481?s=21

[–][deleted]  (19 children)

[deleted]

    [–]Goblinballz_ 44 points45 points  (16 children)

    Imagine if he invested in BCH, would probably be the catalyst that would destroy BTC. Elon is an assets price wet dream, anything he tweets goes 📈lol

    [–]i_have_chosen_a_name 28 points29 points  (4 children)

    i hope not, i dont have 210 bch yet.

    [–]sincosis 5 points6 points  (0 children)

    Same.

    [–]JanTheRealOne 7 points8 points  (2 children)

    but why 210?

    [–]fixthetracking 20 points21 points  (1 child)

    It would represent 1/100000 of the total BCH supply.

    [–]Outside_Town_984 2 points3 points  (0 children)

    Diamond hands

    [–]ichbinfreigeist 0 points1 point  (10 children)

    The problem with BCH is while it is interesting, it doesn't solve anything or bring anything new to the table. It just delays the problem.

    If you could have a picasso painting or a painting of a picasso painting by someone else thats done slightly better while still doing exactly the same which one would you invest your money in?

    Lightning may be useless, mimblewimble might not solve everything just like pop-up and first-gen behind-screen cameras in smartphones, theres trial and error involved in developing new things.

    The problems in crypto are fungibility and scaling and scaling isn't solved by making a basket bigger to carry twice the amount of apples, the amount of apples carried must become exponentially bigger compared to the size increase.

    [–]Goblinballz_ 11 points12 points  (3 children)

    I don't think you can compare crypto with art work. I 100% disagree, Bitcoin Cash definitely solves the problem BTC has created. BTC literally can't onboard any more uses. Their blockchain is maxed out, fees are rife, congestion is unable to be discharged, LN and mimblewimble have had zero effect on this congestion so far as you rightly pointed out. None of these things are going to change.

    Blockchain and crypto is going to be here forever. We're only 12 years in, that's nothing. All the new users that will be on boarded over the decades aren't going to opt for BTC.

    Obviously I also disagree with your stance on big blocks. I think big blocks are a perfectly reasonable way to scale while maintaining decentralisation and keeping fees low.

    [–]walerikus 5 points6 points  (1 child)

    Picasso is overhyped, people use what's more convenient, not what's more expensive to use. For an average person (expensive) Lamborghini is not a preferable car to drive.

    [–]jessquit 5 points6 points  (3 children)

    The problems in crypto are fungibility and scaling and scaling isn't solved by making a basket bigger to carry twice the amount of apples

    That's interesting, because when I buy a larger HDD there are two ways it got larger:

    1. More platters in the case

    2. More bytes on the platter

    You know what's never happened? They've never sold me a printer, and told me to print out my data instead of saving it on the drive, in order to scale the drive.

    Adding more platters is like increasing the block size.

    Getting more data per platter is like compression tech like xthinner.

    Printing your data so you don't use your drive is like Lightning.

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      [–]kukomeshals 36 points37 points  (0 children)

      I feel like him acknowledging the point made by Kim can be quite huge. If you just simply search on Google for the word "bitcoin" everything that shows up is along the lines of this article https://www.theceomagazine.com/business/finance/tesla-bitcoin/ praising Tesla and Elon Musk for the big step they've taken. I'm not trying to say it's not what they claim, but it would be useful for the average population to actually understand it's not just pink, as these articles portray it to be.

      Following the same train of thought, there are a lot of articles with the same title "What can you buy with Bitcoin?", or "5 Things that you can buy with Bitcoin in 2021". The overall popularization of cryptocurrencies is not the bad part, quite the opposite actually, such articles help with the "bad view" that crypto gathered in recent years. The issue that I'm seeing though is how the message is perceived by the readers. It's seen like all you have to do is buy this imaginary thing for 1000 USD, wait for it to boom, and then buy a Tesla a few months later for only 1000USD, the initial price paid for the crypto.

      I've already seen it mentioned on here, but I believe the majority of Bitcoin owners at the moment have no actual interest in how the system actually works, they just saw the growing popularity of it and went with the herd. Again, not a necessarily bad thing. Just stating some facts. This indifference is fed by articles like the ones I mentioned above and the lack of ones that explain the system of crypto. I actually had a hard time searching for one like this https://tenx.tech/starter-guide/the-complete-guide-to-fees-and-hidden-costs-in-crypto-ecosystem that briefly mentions the fees behind transactions.

      Even if I don't intend to buy anything using Bitcoin at the moment, just the sole action of buying and selling the currency is stripping me of some of the profit. I'm trying the free trial of a scalping terminal https://bittrade.one/ to maybe cut some of those costs by trying those new available strategies. That's not the main point though. I'm trying to say that Elon Musk acknowledging that it's not in fact as easy to buy a Tesla just because you invested in Bitcoin one year ago might influence some other important factors in the domain.

      [–]FUBAR-BDHR 84 points85 points  (17 children)

      All the maxi hate in that thread. Didn't take them long to turn on him did it.

      [–]pdr77 52 points53 points  (10 children)

      One said #havefunstayingpoor. 🤣🤣🤣

      [–]walerikus 2 points3 points  (0 children)

      They don't see the irony. They don't see nothing, only BTC mantra.

      [–][deleted] 46 points47 points  (3 children)

      Half of the accounts are probably sock puppets.

      [–]j4_jjjj 24 points25 points  (1 child)

      Isnt twitter like 70% bots?

      [–]VideoGameDana 7 points8 points  (0 children)

      Literally Skyrim NPCs.

      [–]VideoGameDana 2 points3 points  (0 children)

      Sock puppets used and abused by hormonally-imbalanced teenagers.

      [–]twilborn 3 points4 points  (0 children)

      That's quite funny. I'm sure maxis like Saleor will tell you not to buy a Tesla with your bitcoin though.

      [–]ChineseInfluenza -1 points0 points  (0 children)

      This guy is a troll and was pumping dogecoin. Look at his actions, not his words. Invest accordingly and get rich.

      [–]0hWell0kay 51 points52 points  (12 children)

      Well I think we’ve all been waiting for this. This is why it’s important to have someone like Kim on our side. He can get the ear of someone like Elon, who has the ear of everyone.

      [–]Goblinballz_ 14 points15 points  (11 children)

      Tendies for all if Papa Elon dropped some bucks on us

      [–]i_have_chosen_a_name -5 points-4 points  (10 children)

      short term gain bro, just go for a big bch crash and aim for 210 bch instead of 21 bch.

      [–]BitcoinopolyModerator - /R/BTC 12 points13 points  (7 children)

      We just went through three years of brutal price crashes followed by more brutal price crashes. If you're hoping for yet another brutal crash from where the price currently sits then you're going to be super disappointed.

      [–][deleted]  (6 children)

      [deleted]

        [–]0hWell0kay 5 points6 points  (5 children)

        My 2 cents: the big ship will sink and drag all the little boats down with it. The most buoyant (useful) will bob back up to the surface. I think there will definitely be a moment to get BCH (or whatever the most useful cryptocurrency ends up being) at a massive discount compared to today. But you’ll have to be very quick and smart to time it perfectly and it will ultimately end up more valuable than today. So, like, jump on board whenever.

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          [–]yeahhhbeer 37 points38 points  (27 children)

          Someone post this on r/CryptoCurrency

          [–]Neutral_User_Name 28 points29 points  (21 children)

          Someone post this on /r/Bitcoin

          [–][deleted] 34 points35 points  (1 child)

          You'd have to be a kamikaze. :-)

          [–]ShadowOfHarbringer 19 points20 points  (0 children)

          When you are banned by one of the most brainwashed, censored and corrupt communities, isn't that a reason to be proud?

          Instant ban on /r/Bitcoin is like a badge of honor here.

          PS. I won't post it because I am (obviously) already banned there. Been since 2015.

          [–]moleccc 7 points8 points  (13 children)

          I burned in 2016

          Since then I'm temporarily prohibited from commenting there. Lol.

          [–]ShadowOfHarbringer 10 points11 points  (12 children)

          temporarily

          temporarily

          xD

          [–]moleccc 6 points7 points  (11 children)

          Yeah, like covid measures

          [–]ShadowOfHarbringer 10 points11 points  (10 children)

          Yeah, like covid measures

          Yep, covid measures will be "temporary" forever in the same way.

          The epidemic will never end. It is too profitable for the ruling class.

          It will last as long as common people allow it.

          [–]CryptoCryptonaire 2 points3 points  (4 children)

          Haha, you'd probably get an instant ban.

          [–]f-reddit-communistsNew Redditor 6 points7 points  (1 child)

          run reddit ads shilling BCH on r/bitcoin, nothing they can do about it

          [–]CryptoCryptonaire 2 points3 points  (0 children)

          I dunno if that's true or not, but would be super awesome if that could happen.

          [–]ShadowOfHarbringer 6 points7 points  (1 child)

          Haha, you'd probably get an instant ban.

          When you are banned by one of the most brainwashed, censored and corrupt communities, isn't that a reason to be proud?

          Instant ban on /r/Bitcoin is like a badge of honor here.

          PS. I won't post it because I am (obviously) already banned there. Been since 2015.

          [–]Goblinballz_ 14 points15 points  (1 child)

          Why don’t you? I’m too scared to comment and post in all those shot subs because of the aggressive moderation. But I like most of the content so I just lurk.

          [–]yeahhhbeer 8 points9 points  (0 children)

          I don’t have enough karma

          [–]Oscuridad_mi_amigo 7 points8 points  (1 child)

          The same post in r/cryptocurrency was 80% downvoted https://np.reddit.com/r/CryptoCurrency/comments/mcunr3/elon_musk_agrees_that_bitcoin_cash_has_certain/

          Salty core maximalists. For some reason they hate real crypto with utility and prefer to use visa and paypal, like what the actual heck?!

          [–]ShadowOfHarbringer 1 point2 points  (0 children)

          For some reason they hate real crypto with utility and prefer to use visa and paypal, like what the actual heck?!

          Corruption. Infiltration. Government operation.

          load more comments (1 reply)

            [–]ColinTalksCryptoColin Talks Crypto - Bitcoin YouTuber 11 points12 points  (0 children)

            As KimDotcom said, try to buy a soda with Bitcoin.

            There is a worse problem:

            High fees lead to a FRACTIONAL RESERVE SYSTEM.

            https://youtu.be/JaTefdDmH8g

            (And LN is not the solution with how Bitcoin is currently designed.)

            [–]i_have_chosen_a_name 38 points39 points  (12 children)

            the 99% vs the 1%.

            Bitcoin Cash vs Bitcoin

            The elite usually wins these fights ...

            But this, ... this is Bitcoin.

            Bitcoin is disruptive!

            and if not, does it still have value?

            Make your bet!

            Will wealth on the planet centralize (Bitcoin) or decentralize (Bitcoin Cash)?

            [–]Jwddog 3 points4 points  (10 children)

            Please explain your argument that bitcoin is centralized?

            Isn't the only difference the block size, and thus the fees?

            I understand the importance of that difference of course, it just does not make bitcoin any more "centralized"

            [–]jessquit 19 points20 points  (1 child)

            1. BTC development is centralized. There is one reference client under the control of one very small, elite team. True, there are many contributors, but for your contribution to make it into the repo it cannot challenge the wisdom of the inner sanctum.

            2. Fees guarantee that no more than a tiny fraction of the world's richest people can ever control their own BTC.

            [–]i_have_chosen_a_name 4 points5 points  (0 children)

            billionares would have 100x more control over millionares if the world ran on Bitcoin and proof of stake.

            [–]Jameszz3 18 points19 points  (3 children)

            I think his point was that if the only people that can afford to use Bitcoin on chain are the ones making massive transactions then on chain Bitcoin becomes “centralised” on banks, business to business, and the ultra rich.

            [–]i_have_chosen_a_name 11 points12 points  (2 children)

            there are 25 000 banks in the world. if they all make 20 settlement tx a day, they get to control Bitcoin. they can collectively decide to replace all there 50 sat/byte tx in the mempool with 500 sat/byte tx, which means fee estimators will tell users to pay 10x more for a tx.

            this dynanic gives them so much control over the 99%. want to buy a tesla? only if those 25 000 banks allow it. otherwise they can prevent your tx from ever getting confirmed.

            [–]phro 5 points6 points  (0 children)

            Small miner want to join a pool? Hope you like monthly or quarterly or worse payout intervals.

            [–]walerikus 2 points3 points  (0 children)

            It's not even about a banks here, mass usage of the network is prohibitive by the block size, each time more users will want to transact. the fees will skyrocket.

            [–]i_have_chosen_a_name 7 points8 points  (0 children)

            ill let u/vbuterin do it.

            https://medium.com/@VitalikButerin/the-meaning-of-decentralization-a0c92b76a274

            [–]AmIHigh 5 points6 points  (0 children)

            They've since made new changes to bitcoin cash as well.

            • they re enabled some script codes to allow more functionality on bitcoin as well as added some new codes. It allows things like SLP tokens and smart contracts on bitcoin cash. Sites like memo.cash can work as well.

            • they removed Replace by fee, which was added and completely broke 0 confirmation transactions as it creates an intentional way to double spend before its confirmed. You wouldn't do a large transaction unconfirmed anyway, but for small transactions it's usually fine (without RBF)

            [–]FlipDetector 2 points3 points  (0 children)

            Centralised = there is a central authority who can change the system. Blockstream is the only team that has control over the codebase and they don’t allow any fix. On the other side there is BCH that is developed by 6+ different teams, every miner choses which implementation they run. This is how the forks happen every 6 month that is basically a network upgrade/maintenance.

            Bad actors’ code gets abandoned just like ABC.

            [–]walerikus 0 points1 point  (0 children)

            I break up decentralization on three basic points.

            No administrative rights

            File-sharing system with multiple carriers - nodes

            Currency issuance by multiple peers

            ​

            You can further add other also significant parameters

            User base - BTC is not friendly to more users, it can be used only by a limited group of people or be used as a B2B settlement system for financial institutions which would provide custodian services to the majority of users.

            So this might not be a centralization of the network itself, but it is certainly a centralization of network usage.

            Why second layers and custodian services doesn't help decentralization?

            LN is nowhere near as sustainable as the blockchain network where nodes can leave and join at will and no user experience will be affected, something that LN can't do. Also LN network structure can be performed in two ways, all peers connected to each other and filled with liquidity, which does not scale easily, otherwise multiple big hubs will have multiple connection, which can scale better, but leads to centralization.

            Custodian trusted third parties have risk of censorship because of administrative rights of the host.

            load more comments (1 reply)

              [–]Oscuridad_mi_amigo 7 points8 points  (0 children)

              Its good that he tweeted about it right after a $100 dip, so newbies will get in at a nice $100 discount :)

              Gotta thank the market makers for selling right before the Elon tweet. Enjoy the bargain.

              P.S. I was contacted by some acquaintances who looked into BCH after Elon's tweet and they told me that they think BCH is underpriced after looking at the historical chary ON THEIR OWN, I didn't say anything to them, they legit researched BCH and want to get in NOW.

              Had no idea that Elon has such sway with just a two word tweet!?!?!?

              [–][deleted]  (38 children)

              [deleted]

                [–]shadowofashadow 26 points27 points  (28 children)

                I'm not sure Elon is the one people should focus on. He's selling products where a $10 fee is a very small percent of the total cost. I don't think he has much incentive to see this change.

                [–]BitcoinopolyModerator - /R/BTC 16 points17 points  (2 children)

                [Elon's] selling products where a $10 fee is a very small percent of the total cost.

                That's not entirely true. Starlink subscription service bills, The Boring Company's Not A Flamethrower, and small ticket items from Tesla or Solar City like minor maintenance/repairs and accessories are just some of the products Elon sells for which a $10 transaction fee would be significant enough to turn off a lot of people, myself included.

                [–]shadowofashadow 6 points7 points  (0 children)

                Good point. I'm interested in how much of this decisions is Elon's vs Tesla management. If it is Elon driving it we may see him start to accept crypto for his other companies too.

                [–]DuncanThePunk 1 point2 points  (0 children)

                Moreover, when people start using BTC more to buy Teslas, the high we be higher with longer confirmation times. Tesla and customers will not like this.

                [–]donkeyDPpuncher 12 points13 points  (3 children)

                Tesla has a vast network of charging stations...

                [–]Phucknhell 8 points9 points  (1 child)

                oooo, never thought of that. It would be super slick to accept crypto at these points.

                [–]moleccc -1 points0 points  (0 children)

                Use a payment channel to pay while charging

                [–]moleccc 0 points1 point  (0 children)

                There's already many energy sector projects in ethereum. Even chains/projects dedicated to energy trading. If BCH wants in on that, there's some catching up to do, I guess

                [–]Goblinballz_ 26 points27 points  (1 child)

                As a merchant accepting cryptocurrencies the fees don’t matter to him, you’re right. But as a businessman looking to do business he’ll want something with the least amount of friction. It’s only a natural progression that everyone will do from BTC to other cryptocurrencies with actual utility.

                Bitcoin Cash is one of those cryptos. It’s so damn useful and fun and easy and the possibilities are endless due to its quick low fee, reliable transactions. The world is going to want this. Hell they need this! I can’t stop buying it lol, I feel like a kid in a candy store but no one has switched on the lights yet!

                [–]shadowofashadow 4 points5 points  (0 children)

                I agree :)

                [–]jessquit 17 points18 points  (16 children)

                I think Elon has the engineering common sense to realize that BTC is designing itself into a box. Time will tell.

                [–]shadowofashadow 17 points18 points  (14 children)

                It makes me wonder how much he actually understands of bitcoin. I'm sure he understands it functionally but how deep has he gone into the design?

                I've gone back and read the Book of Satoshi recently and the amount of care and thought that was put into the design is really underappreciated.

                It's really hard for me to understand how people who read his whitepaper and forum posts don't think his scaling plan was as good as the rest of the design.

                [–]jessquit 10 points11 points  (12 children)

                Sooner or later he will bump up against the irrationality of that group and then he will get it.

                It's even possible, though unlikely, that he already gets it, and is setting everyone up for an insane coup de grace.

                [–]jaydizzz 7 points8 points  (1 child)

                It will be called “Elongate”

                https://twitter.com/elonmusk/status/1375033483148451842?s=21

                elongate — “make (something) longer, especially unusually so in relation to its width.”

                [–]jessquit 6 points7 points  (0 children)

                It will be called “Elongate”

                Hahaha beautiful

                [–]hero462 -1 points0 points  (9 children)

                My crazy theory is that maybe he IS Satoshi. He won't come out and sign a message because he wants to know that Bitcoin is robust enough to survive without him. There's been little hints along the way on his twitter (that fork for example). I think him coming around slowly to favor BCH will be his subtle way of tipping the scales in favor of what he started.

                [–]inf-r 7 points8 points  (0 children)

                lol

                [–]f-reddit-communistsNew Redditor 4 points5 points  (7 children)

                that's impossible. elon doesn't really start things, for example paypal and tesla were not started by elon, he just just took them over.

                elon is a leader and marketer, he's not the one doing research and writing whitepapers.

                [–]jaydizzz 1 point2 points  (5 children)

                Well he did start spaceX. But yeah he’s probably not Satoshi lol

                [–]hero462 2 points3 points  (1 child)

                And Neuralink.

                [–]hero462 1 point2 points  (2 children)

                I know he's probably not. It's just a fun theory. I mean he was booted from Paypal before the Whitepaper was released. He was already involved in development of online payment system. Who's to say his personal interest stopped there? I believe he prefers the same coding language underlying Bitcoin as well.

                [–]jaydizzz 1 point2 points  (1 child)

                Never say never lol. It would be absolutely hilarious if Elon turns out to be SN, i want to live in that timeline

                [–]hero462 1 point2 points  (0 children)

                Impossible? huh

                [–]jaimewarlock 9 points10 points  (0 children)

                The one thing I like about Elon is that he is willing to make changes even after sinking a lot of money into something. For instance, he abandoned using fiberglass and carbon composites for his satellite program after $millions on their development. Went to using stainless steel instead despite it being old technology. He knows when to switch to something better.

                Hopefully this thinking will remain true as he spends more time using cryptocurrency.

                [–][deleted] 1 point2 points  (0 children)

                think Elon has the engineering common sense to realize that BTC is designing itself into a box. Time will tell.

                I watched an interview where he say being able to think “from first principles” and he seems to have been able to see how to disrupt existing tech..

                Now if is he interested enough in crypto and money/currency in general to dig into the whole BCH/BTC, I don’t know.

                That would be brilliant tho:)

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                  [–]johnhops44 -5 points-4 points  (8 children)

                  Elon doesn't want BCH competing with PayPal.

                  [–]BitcoinopolyModerator - /R/BTC 6 points7 points  (5 children)

                  Elon couldn't possibly give less of a crap about Paypal. He wouldn't even blink if it disappeared completely.

                  [–]johnhops44 -3 points-2 points  (4 children)

                  Why would you even say such a thing? Elon Musk literally chased a $1billion dollar bonus for meeting Tesla sales, yet PayPal brings him in $20 billion in profits yearly with 20% growth year over year and you're telling me he doesn't care about profits?

                  https://www.statista.com/statistics/382619/paypal-annual-revenue/

                  [–]BitcoinopolyModerator - /R/BTC 10 points11 points  (1 child)

                  1) That chart shows revenue and not profits.

                  2) Elon sold his entire stake in Paypal just before starting Tesla/SpaceX/Solar City.

                  [–]johnhops44 1 point2 points  (0 children)

                  Elon sold his entire stake in Paypal

                  yeah I forgot about that part

                  [–]BruceCLin 2 points3 points  (1 child)

                  Elon has own any paypal shares for a long time now.

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                    [–]oranj88 12 points13 points  (0 children)

                    yas!!

                    [–]shenanig 6 points7 points  (0 children)

                    Holy molly!

                    [–]Infinite-Quarter2003Redditor for less than 30 days 12 points13 points  (6 children)

                    Cool. Too bad BTC fucboi’s will start insulting Elon Musk till he too crumbles to peer pressure

                    [–]drewshaver 24 points25 points  (3 children)

                    I’m sure they will pile on but Elon does not seem like the guy who gives to peer pressure

                    For instance, look at his comments on the lockdowns and the vaccine

                    [–]psiconautasmart 2 points3 points  (2 children)

                    What did he say about the vaccine?

                    [–]drewshaver 6 points7 points  (1 child)

                    To paraphrase, he said that lockdowns have done more harm than good all things considered. And that he and his family will not be taking the vaccine, as they are not at risk for covid.

                    source here: https://www.youtube.com/watch?v=3BnR_phGfE8

                    [–]Egon_1Bitcoin Enthusiast[S] 6 points7 points  (0 children)

                    I don't think so...

                    load more comments (1 reply)

                      [–]skoold2003 5 points6 points  (0 children)

                      I retweeted that if they buy BCH and accept it for Teslas I'll buy a model X. Everyone should send a reply like that :)

                      [–]HarveyBirdman3 3 points4 points  (0 children)

                      Holy shit I’ve been saying this to Elon forever but I never got a reply. Great job. Maybe try to set up an interview with him or private call to discuss the benefits of BCH?

                      [–]sincosis 3 points4 points  (12 children)

                      Must get as much bch as possible before Elon buys and it shoots to the moon.. Any ideas for robbing fiat banks?

                      [–]moleccc 7 points8 points  (11 children)

                      ideas for robbing fiat banks?

                      Why Rob bank? Just print own stable coin.

                      [–]sincosis 3 points4 points  (10 children)

                      Don't have the backing. But yeah, print more.

                      [–]moleccc 7 points8 points  (5 children)

                      Don't have the backing.

                      The appearance of backing will suffice. It's all about managing perception.

                      [–]sincosis 2 points3 points  (4 children)

                      Teach me o wise one 😁

                      [–]moleccc 2 points3 points  (3 children)

                      Be creative.

                      [–]sincosis 1 point2 points  (2 children)

                      Sadly, if I was I would not be seeking assistance o wise one..

                      [–]moleccc 3 points4 points  (1 child)

                      Well, I'm not going to tell you exactly how to run a scam for obvious reasons.

                      Better leave that to the big boys.

                      Have you ever tried any psychedelics? I hear they boost creativity.

                      [–]Oscuridad_mi_amigo 1 point2 points  (1 child)

                      Tether doesnt either have backing XDDDDD (proven in the NYAG lawsuit, they legit have evidence that there was no backing.)

                      load more comments (2 replies)

                        [–][deleted] 8 points9 points  (0 children)

                        Oh shit, this is huge!

                        [–]Puniversefr 10 points11 points  (2 children)

                        Most people currently involved in crypto doesn't care enough about it beside the monetary figures to just wonder if it actually works, let alone how it works. They just follow blindly the position of some public figure they have faith in. Opening Elon eyes on how bitcoin work and why btc doesn't make any sense anymore is the key to opening millions eyes, and would be enough to turn the tide around and have the social media campaign strike back at btc maxis, keep up these smart moves Kim, Egon and everyone else involved, especially Roger who is admirably steady to his belief and position in a crypto world were everyone change their position every two weeks. I personally don't have the stamina and nerves to go on this social media crusade against axa empire and their sock puppet army but I admire your steadiness. I'll stick to doing my part of the work on everyday life by just advising people that ask me about crypto to look at the white paper and the brief history of bitcoin censorship, if they are smart enough they'll do the math.

                        Keep up the good word everyone, and remember that a few century back flat earther were burning alive the few people that believed the earth was round, opening people minds take time and steadiness.

                        [–]Phucknhell 4 points5 points  (1 child)

                        /u/chaintip

                        [–]chaintip 2 points3 points  (0 children)

                        chaintip has returned the unclaimed tip of 0.00216437 BCH| ~ 1.16 USD to u/Phucknhell.

                        [–][deleted] 7 points8 points  (0 children)

                        If I used Twitter I would chaintip Elon a few $ worth of bch. Hell, that could be a good marketing strategy... pick a celeb and dogpile on them with chaintips.

                        [–]lettucebee 3 points4 points  (0 children)

                        Thank you, Kim Dotcom! This guy is using his fame to advance BCH. A less famous person would not have any impact.

                        [–]lizaundry 9 points10 points  (5 children)

                        cant tell a lie, been on the fence with BCH and Elon jumping in was enough for me to finally get my feet wet.

                        [–]MobileVortex 4 points5 points  (1 child)

                        This is jumping in?

                        [–]Goblinballz_ 2 points3 points  (1 child)

                        AFAIK Elon hasn’t bought any Bitcoin Cash BCH. The price would be way up if he did lol, that man moves markets more than Melvin.

                        [–]Phucknhell 2 points3 points  (0 children)

                        I love bitcoin Cash, don't get me wrong, but in the interest of honesty, I don't think he has any BCH that we are aware of.

                        [–]Adalwolf311 2 points3 points  (2 children)

                        Serious question. If the argument is lower fees, than what makes BCH superior to any of the hundreds of other cryptocurrencies with even lower fees, or a coin like NANO, which has zero fees?

                        [–]Egon_1Bitcoin Enthusiast[S] 2 points3 points  (1 child)

                        It supports other use cases:

                        • Micro and large payments
                        • DeFi (smartbch, detoken, anyhedge)
                        • own token system built on BCH (SLP)
                        • supports privacy with cashfusion
                        • very low adoption costs
                        • several developer teams to avoid centralization
                        • adopted by most merchants, businesses, exchanges in the world
                        • support by many DeFi provider like REN or chainlink
                        • shares the bitcoin genesis block

                        [–]asczy 4 points5 points  (0 children)

                        This is fire :)

                        www.tipb.ch/fire

                        [–][deleted] 3 points4 points  (0 children)

                        I had my first interaction with a maximalist after retweeting this tweet

                        [–]blasphemousplayer 1 point2 points  (5 children)

                        I have a question. What will be the fees on BCH network if the network is doing 1000 transactions per second?

                        [–]SoulMechanic 6 points7 points  (0 children)

                        Same as they are now.

                        https://bitcoinfees.cash/

                        [–]greatwolf 2 points3 points  (0 children)

                        It will remain the same as it is now.

                        [–]Oscuridad_mi_amigo 1 point2 points  (2 children)

                        Maybe even cheaper, because more transactions pay for more than enough hard drive space of the miners.

                        But definitely not more than now. If the price goes up we can just pay fractions of a satoshi, like 1 satoshi for an entire transaction, rather than 1 satoshi for x bytes. If it gets even higher in price , they can just fork to allow smaller decimals of BCH coins. Super easy.

                        [–]walerikus 1 point2 points  (0 children)

                        Central Banks unlimited money printing is the best advertisement for BTC.

                        Unlimited high fees on BTC is the best advertisement campaign for Bitcoin Cash.

                        [–]gucciman666 1 point2 points  (0 children)

                        AHHHHHHHHHH

                        [–]shadowofashadow 4 points5 points  (2 children)

                        Go back and read satoshi's writings and it's really clear he not only thought through this stuff ahead of time he had plans for it all too. To throw his plan away to create a second layer is absurd.

                        That being said I dont' think Elon cares much about the txn fee on a soda, he is selling cars.

                        [–]binchentso 1 point2 points  (3 children)

                        But a Tesla does not cost <10$. And if you pay in these dimensions, you do not care about 8$ fee. For these companies it's about jumping on the biggest ship. Not the fastest.

                        [–]j4_jjjj 7 points8 points  (0 children)

                        Superchargers arent free

                        [–]shadowofashadow 0 points1 point  (1 child)

                        Yeah I don't think Elon is concerned about a $10 fee. It's probably cheaper than what they pay for the legacy banking systems they use.

                        [–][deleted] 1 point2 points  (0 children)

                        Imagine the transaction fee for Tesla putting the price of an entire car on an American Express. Bitcoin is only a fraction of the cost.

                        [–]Sir_Shibes 1 point2 points  (0 children)

                        i wonder if they plan on adding crypto payment support to the tesla shop (https://shop.tesla.com) which sells several less expensive items. it'd make a lot more sense for them to accept something like bch there instead of btc

                        also, charging stations...

                        [–]Hamburger-2021Redditor for less than 60 days 0 points1 point  (0 children)

                        Too sad, that somebody has to tell him 🙄 Same counts for Ethereum...

                        [–]tmichaels5 1 point2 points  (2 children)

                        Tesla should accept BCH. They can convert it to BTC like a payment processor.

                        [–]JanTheRealOne 1 point2 points  (1 child)

                        -convert +trade. Tesla's business is to build and sell electric vehicles not to be a payment processor

                        [–]Bagatell_ 2 points3 points  (0 children)

                        Do Tesla run the charging points?

                        [–]kronikheadband 0 points1 point  (13 children)

                        So what would the fee be to buy a Tesla?

                        Why exactly is Elon saying is a fair point?

                        [–]chriswheeler 31 points32 points  (1 child)

                        Crypto could be a nice way to pay for charging electric cars. It wouldn't be viable with BTC, but would with BCH.

                        [–]Egon_1Bitcoin Enthusiast[S] 11 points12 points  (0 children)

                        THIS!

                        [–]jessquit 9 points10 points  (9 children)

                        So what would the fee be to buy a Tesla?

                        Less than a penny

                        [–]pdr77 10 points11 points  (0 children)

                        The BCH fee for buying a car would be around 0.005c.

                        The point is that if the fee were higher, it wouldn't be possible to use it for smaller purchases too.

                        [–]Hambino0400 0 points1 point  (0 children)

                        Why is Bitcoin and Bitcoin cash always fighting? I’m in it for the money and making the most amount of money

                        [–][deleted] -1 points0 points  (2 children)

                        LIGHTNING

                        [–]Egon_1Bitcoin Enthusiast[S] 0 points1 point  (1 child)

                        No

                        [–]Candid_Plum_1418Redditor for less than 60 days -3 points-2 points  (2 children)

                        It is because of the fees that I have moved over to IOTA and recommend others do the same

                        IOTA Homepage

                        [–]Oscuridad_mi_amigo 2 points3 points  (1 child)

                        centralised spreadsheets. all these premined, unmineable "new tech" coins are legit running on one guys server in their basement.

                        [–]Candid_Plum_1418Redditor for less than 60 days -1 points0 points  (0 children)

                        lol enjoyed your comment but if you look into it there's a bit more to it than that. tks for the laugh though :)

                        [–]SpareZombie6591 -4 points-3 points  (0 children)

                        No way. Taxable event. For a soda? You'd have to be a complete idiot.

                        [–]ryitnoise -5 points-4 points  (2 children)

                        Monero is superior to Bitcoin and Bitcoin cash in every way a user wants from transaction costs to privacy but it still hasn’t caught on.

                        [–]Oscuridad_mi_amigo 0 points1 point  (1 child)

                        One word: fees.

                        Monero doesnt scale. Same as Bitcoin-Core doesnt.

                        [–]ryitnoise -2 points-1 points  (0 children)

                        Monero can handle 1,700 tps to my understanding and fees are like .003¢.

                        [–][deleted]  (2 children)

                        [removed]

                          [–]greatwolf 2 points3 points  (1 child)

                          Doge has a hardcoded min fee of 1 doge per input with a Math.ceil rounding it up. What happens when 1 Doge starts becoming 5 cents? 10 cents? I think you get where I'm going with this.

                          [–][deleted]  (1 child)

                          [deleted]

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