Thread: 1/@rogerkver has been speaking around #Korea, such as at #deconomy2018 (along with @Excellion, @Jcp, @VitalikButerin, + many others). We want to address some of his popular talking points, such as the ones in his promotion video:
2/starting with a promotion of Bitcoin.com - several pointers: this website presents itself as a Bitcoin site and as a community. In fact, it's a for-profit site to promote $BCH first and foremost. There ARE strings attached. He HAS a stake in it, incentive to promote
3/@rogerkver and many others overestimated #Bitcoin technology in the early days, pitching it in certain way, based on what they saw at that time. Merchant adoption would be nice to see, but is limited by the constraints of the technology. That became clear as adoption grew.
4/@rogerkver can say that he didn't change to $BCH and he can say that $BCH is #Bitcoin, but if nobody else sees it that way - it's just bad communication.
5/@rogerkver claims $BCH is cheaper to send (has lower fees) than #Bitcoin $BTC. This is true for any coins that either sacrifice decentralization (the only distinguishing feature of cryptocurrency) or for coins that see low usage (such as $BCH or the early days of Bitcoin.
6/@rogerkver often claims that $BCH is 'basically instant' while #Bitcoin 'can take several days'. If you pay the required fee, $BTC will get confirmed in the next block. What's true is that Bitcoin fees are higher. Caveat: see tweet #5 of this thread
7/@rogerkver claimed $BCH is not double-spendable. False. Unconfirmed transactions have no consensus by definition. Trusting that a transaction gets into a block before it gets confirmed points to miner centralization. Competitive miners mine a double-spend if the fee is higher
8/@rogerkver claimed $BCH is more reliable than #Bitcoin because your transaction will get into the next block. False. BCH is not more reliable than Bitcoin. See answers 6/ and 7/ of this thread.
9/@rogerkver claims $BCH is actually more private than #Bitcoin. Unsubstantiated claim. We're waiting to hear his reasons for saying so.
10/@rogerkver says 'people' wrestled control of #Bitcoin away from others. False. This shows a complete misunderstanding of the tech. If you believe cryptocurrencies can be controlled and taken over, then you should not value them. Lack of centralized control is the main feature
11/@rogerkver thinks #Bitcoin is 'controlled' by 'people' who openly say they want blocks to be full. False. Bitcoin supporters want it to be infinite in size and free, but the constraints of reality compel us to do otherwise.
12/@rogerkver criticizes 'replace-by-fee' in #Bitcoin. This is an excellent technology that matches the profit-seeking behavior of miners
He believes people in Korea buy $BCH because it's 'like cash'. The reality is that people in Korea barely take their $crypto off the exchange
He believes people in Korea buy $BCH because it's 'like cash'. The reality is that people in Korea barely take their $crypto off the exchange
13/During the debate at #deconomy2018 with @Excellion, @rogerkver infamously declared that more babies and people are dying because people chose #Bitcoin over $BCH. This is a logical fallacy, an appeal to emotion.
logicallyfallacious.com/tools/lp/Bo/Lo…
logicallyfallacious.com/tools/lp/Bo/Lo…
14/@rogerkver claims that zero confirmation transactions are safe on $BCH. This is false. Zero confirmation transactions are unsafe because they're susceptible to double-spend attacks, or $BCH has centralized mining which means the entire BCH blockchain isn't safe.
15/@rogerkver claims that #Bitcoin is slow and expensive while $BCH is fast and cheap. False. Bitcoin is not BOTH slow and expensive. It is sometimes one or the other. Also, see /5 for reasons why $BCH has cheaper transactions than Bitcoin.
Last/ At #SeoulBitcoin, we want to help people rely on their own understanding of #Bitcoin to see through these false, misleading, or cherry picked claims made by any and all poorly informed and self-aggrandizing critics. And we agree with @jcp on polite discussion.
