Re:Early Bitcoin Investor Roger Ver Charged with Tax Fraud
by hggh on Wednesday May 01, 2024 @04:57AM
(#40220985)
Bitcoin (BTC) worked perfectly as currency in the beginning, until Blockstream took over the development team, and they decided to keep the temporary anti-spam 1MB block limit, making 0-confirmation transactions (instant payments) very risky by implementing return-by-fee (which make transactions reversible before getting confirmed), etc.
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Re:Early Bitcoin Investor Roger Ver Charged with Tax Fraud
by scotty79 on Thursday May 02, 2024 @01:38PM
(#40239038)
It's the miners and users who ultimately decided if the 1MB block limit should be kept.
Re:Early Bitcoin Investor Roger Ver Charged with Tax Fraud
by hggh on Thursday May 02, 2024 @02:02PM
(#40239377)
Then the miners are clearly smarter than the users
Re:Early Bitcoin Investor Roger Ver Charged with Tax Fraud
by scotty79 on Thursday May 02, 2024 @04:43PM
(#40241157)
Why? They decided the same. Both miners and users favor the fork where the 1MB block limit is kept.
Bitcoin Cash and Bitcoin Gold are used and mined very little.
Re:Early Bitcoin Investor Roger Ver Charged with Tax Fraud
by hggh on Friday May 03, 2024 @06:09AM
(#40245989)
Miners mine whatever is most profitable for them, regardless of how good or bad is that cryptocurrency, and they switch between BTC, BCH or any other SHA256 (not Bitcoin Gold, which uses a different hash function) even many times in a given day.