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BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

blog.bitpay.com

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Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#11

Post by down »

lawn wrote: post #6
LyndsySimon wrote: post #3

It seems clear to me at this point that the cryptocurrency revolution is now bigger than Bitcoin itself. Years ago, I saw three long-term outcomes: Bitcoin being king and altcoins dying on the vine, Bitcoin being one of innumerable blockchains in use, and cryptocurrencies in general failing to gain adoption. I'm scratching the first outcome off the list, and my pen is hovering over the last outcome.

The first version of new and revolutionary technology rarely (if ever?) becomes the dominant one. Obvious examples are search (Altavista -> Google) and social networks (MySpace -> Facebook).

right MySpace, was a technology?, I think they were build on php or so, was a slow site, Google is not a technology either, golang it is, and is somehow revolutionary through simplicity and first-ish.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#12

Post by jncraton »

LyndsySimon wrote: post #3

It seems clear to me at this point that the cryptocurrency revolution is now bigger than Bitcoin itself. Years ago, I saw three long-term outcomes: Bitcoin being king and altcoins dying on the vine, Bitcoin being one of innumerable blockchains in use, and cryptocurrencies in general failing to gain adoption. I'm scratching the first outcome off the list, and my pen is hovering over the last outcome.

Bitcoin is the long term store of value for the cryptocurrency ecosystem. It's poor for small transactions, but works well for storing large amounts of value as it is significantly more secure in terms of PoW than anything else out there.

The small transaction issue may be overcome by something like the Lightning Network, but in the short term, you can just use other cryptocurrencies with lower fees or other features that are important to you.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#13

Post by MadSudaca »

LyndsySimon wrote: post #3

It seems clear to me at this point that the cryptocurrency revolution is now bigger than Bitcoin itself. Years ago, I saw three long-term outcomes: Bitcoin being king and altcoins dying on the vine, Bitcoin being one of innumerable blockchains in use, and cryptocurrencies in general failing to gain adoption. I'm scratching the first outcome off the list, and my pen is hovering over the last outcome.

I can't imagine a future where some form of cryptocurrency technology isn't in widespread use.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#14

Post by Frogolocalypse »

dahdum wrote: post #9

Just this May their CEO was singing a different tune: "We have carefully studied the most significant alternatives to the Bitcoin Blockchain and have concluded that none of them are compelling" [1] He's been a bitcoin maximalist for a while, so it's notable to see him finally cave due to the mining fees. [1] https://cointelegraph.com/news/bitpay-ceo-we-studied-bitcoin...

He 'caved in' because bitpay was bought by bitmain, the largest centralized chinese miner.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#15

Post by nlperguiy »

lawn wrote: post #6
LyndsySimon wrote: post #3

It seems clear to me at this point that the cryptocurrency revolution is now bigger than Bitcoin itself. Years ago, I saw three long-term outcomes: Bitcoin being king and altcoins dying on the vine, Bitcoin being one of innumerable blockchains in use, and cryptocurrencies in general failing to gain adoption. I'm scratching the first outcome off the list, and my pen is hovering over the last outcome.

The first version of new and revolutionary technology rarely (if ever?) becomes the dominant one. Obvious examples are search (Altavista -> Google) and social networks (MySpace -> Facebook).

None of these technologies are dominant enough. Not a single one is a usable product.

All cannot support a large number of transactions, not even those that do not have proof of work. There's research-level problems being solved (like bulletproofs for compact private transaction - hides amounts). After research is done there's engineering. Then testing until it is ready to use.

People really don't realize how early this is.

Lightning network, a proposed solution for Bitcoin scaling problem, was announced 2 years ago, and they identified many issues with it since then. There's talks of layer number 3 etc.

This is way too early and there's no winner. Bunch of cryptocurrencies are riding on the research-wave behind Bitcoin.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#16

Post by Frogolocalypse »

lawn wrote: post #6
LyndsySimon wrote: post #3

It seems clear to me at this point that the cryptocurrency revolution is now bigger than Bitcoin itself. Years ago, I saw three long-term outcomes: Bitcoin being king and altcoins dying on the vine, Bitcoin being one of innumerable blockchains in use, and cryptocurrencies in general failing to gain adoption. I'm scratching the first outcome off the list, and my pen is hovering over the last outcome.

The first version of new and revolutionary technology rarely (if ever?) becomes the dominant one. Obvious examples are search (Altavista -> Google) and social networks (MySpace -> Facebook).

Where is your second internet?

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#18

Post by Cyberdog »

gressquel wrote: post #2

The article sounds like a propaganda for BCash. For common peoples information, BCash is supported by chinese miners, Satoshi Nakamoto impersonator, a convict named Roger and other types of dubious characters.

How are Chinese miners dubious characters? Also, Roger Ver got convicted of selling varmint-grade firecrackers on eBay. Who cares.

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#19

Post by ribosometronome »

Frogolocalypse wrote: post #16
lawn wrote: post #6

Earlier quoted context omitted.

The first version of new and revolutionary technology rarely (if ever?) becomes the dominant one. Obvious examples are search (Altavista -> Google) and social networks (MySpace -> Facebook).

Where is your second internet?

Are you posting on the ARPANET?

Re: BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

#20

Post by Frogolocalypse »

ribosometronome wrote: post #19
Frogolocalypse wrote: post #16

Earlier quoted context omitted.

Where is your second internet?

Are you posting on the ARPANET?

I use email almost every day, yes.

You realize the arpanet is the internet right? It wasn't replaced, it was expanded. Call it layers if that would make it easier to understand.

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