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Charlie Lee @SatoshiLite
, 8 tweets, 2 min read Read on Twitter
The BCH pump in the past few days is super impressive. I should have kept my BCH!😂

I still don't think BCH can compete with BTC long term, but markets can stay irrational for a long time. I'm glad there's a blockchain for big blockers though. Hopefully, resulting in less drama.
To be honest, BCH can compete well against LTC to be Bitcoin's silver. But their arrogance wouldn't let settle for second. Their current strategy is winner take all against Bitcoin, and they will lose because of these reasons:

Perpetual onchain scaling destroys decentralization
Without decentralization, you lose censorship resistance. Censorship resistance is what gives Bitcoin value. Without that, it's just PayPal 2.0, which is not revolutionary.

BCH also has a very weak dev team when compared to Bitcoin Core. It's like high school team against pros.
By keeping the same mining algorithm, BCH has to compete with BTC for miners. If we've learned anything from history, we know that it's a very bad position to be in. See Namecoin and Dogecoin. They both had to switch to merged mining to survive.
BCH also has brand confusion. That's why people refer to it as Bcash. That's honestly a better name than Bitcoin Cash, which is a mouthful. But BCH supporters would never accept not being called Bitcoin. Because they believe it's the real Bitcoin. 🤦‍♂️
BCH also uses the same address space. So much confusion. This hurts everyone.

Given all that, the only possible outcome is that one coin will go to $0 in the long term. My bet is obviously on Bitcoin. All the short term price movement doesn't really matter. I'm not trading it.
Forgot to mention. BCH is a lot more miner centralized. Because its network hashrate is a lot less than BTC, a small BTC pool can 51% attack it. So it's security is weak because of that. Litecoin doesn't have this problem because Litecoin dominates Scrypt hashing.
BCH also does not have SegWit. I think because miners need a coin to keep mining using Asicboost. They managed to fool the BCH supporters with their SegShit FUD.

Without SegWit, it will never get future tech upgrades like LN, Schnorr, etc. No way it can compete with BTC or LTC.
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More from @SatoshiLite see all

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1/ In the early days of Litecoin (2011), there were threats of 51% attacks. To keep Litecoin secure, I utilized checkpoints. Checkpointing is a centralizing feature as it relies on the developers deciding which is the right chain. But for the beginning of a coin, it made sense.
2/ It's trading off some centralization for network stability and reliability. Satoshi also used checkpoints in Bitcoin in the beginning. Though one can say that it is similar to the idea of UASF as users can decide whether or not to run or upgrade to the latest checkpoints.
3/ I have also considered preventing large re-orgs in the code but decided against it. There is a very good reason why I didn't do this in Litecoin and why Satoshi didn't do it for Bitcoin. Satoshi said it best in one of his emails. satoshi.nakamotoinstitute.org/emails/cryptog…
Read 5 tweets
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1/ On-chain Bitcoin and Litecoin payments are not peer-to-peer. Payments are sent from sender to miners, who record it on a distributed ledger. The recipient receives the payment when it's recorded. BUT, this is facilitated by a p2p network where transactions are broadcasted.
2/ The broadcast network IS p2p, but strictly speaking payments are not p2p. The sender can ignore the p2p network and directly communicate the transaction to miners to send payments. The sender doesn't have to have any communication with the recipient in any p2p manner at all!
3/ This is actually a good thing as the recipient doesn't have to be online to receive payments. Ironically, on chain payments resembles more closely to a hub and spoke model where the mining pools are the hubs and users just need to connect to those hubs to send payments.
Read 7 tweets
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1/ Recently, there has been a concerted effort to suppress Litecoin price by people/funds that are shorting LTC and by groups that see Litecoin as a threat. I will clear up this FUD and show why Litecoin has tremendous value.
2/ FUD: Litecoin has lost its edge and can't differentiate itself from hundreds of other altcoins.

TRUTH: Litecoin has one of the most secure networks of all altcoins. Litecoin has over $150MM of ASIC hardware protecting it. Litecoin dominates Scrypt mining by far.
3/ Miners have no incentives to attack the network because it will destroy the value of their ASIC hardware.

Litecoin has a ton of liquidity, which is important for people to get in/out of LTC. It is on practically every fiat and crypto exchange (Gemini soon), even more than ETH
Read 11 tweets

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I’ve spent a lot of time in my own head these past few days developing some spicy takes on tech ethics.
I’ve said recently that I think the time to talk about ethical codes has long passed us by. We need something more dramatic.
Because here’s the thing. We drag Facebook for acting unethically, but what if I told you they weren’t?
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1. The Republicans in the House and the Senate are missing a once-in-a-lifetime opportunity to reassert the co-equal powers of the legislative branch, powers which have been severely limited by the rise of the imperial presidency since WWII. Let me explain.
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Past few days the serverless hot takes I’ve seen are:

- serverless without containers!
- infra provisioning is hard so we need serverless.

They’re just distractions. 1/*
1 - How my serverless platform works is largely irrelevant to me. That’s the point. What matters to me is what the platform provides.
2 - Don’t confuse individual developer problems with organization problems. How many organizations are making devs configure their own infrastructure?
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Many Iranians criticised one of BBC Farsi’s journalists for her comments on Iran-Hezbullah relations. Some have even threatened her that she won’t be allowed to go back to Iran after the fall of the regime. Many Iranians believe some of @bbcpersian journalists support the regime.
In the past few days some anti-BBC slogans have been chanted by the protesters in Iran. In a comment one of BBCFarsi journalist claims that ‘Trump wants to turn Iran into another Syria by starting a civil war etc’. The same propaganda which is pumped out by Iranian state media.
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(Long Ass Thread)The past few days have been a rollercoaster. The @DevinNunes memo, McCabe forced out of the @FBI and @SpeakerRyan calling for a “cleanse” of the FBI. This is the beginning of a new Night of the Long Knives, although instead of executions it is political
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.@realDonaldTrump from the beginning of and even since before his presidency has demonstrated a willingness to do anything to gain the adoration of people and gain power, he even called on an adversarial foreign power to help him get dirt on his political opponent and had his son
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Are you one of those people who's looked back on 2017 and convinced yourself that you haven't achieved anything? Worried about catching up with your mates who seem to have done much better?

Let me tell you a story about #time.

A thread 👇
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