I start to understand the #BitcoinSV guys when they criticized the direction #BitcoinABC was taking #BCH with for example #Avalanche. When they criticized it they said that it was introducing
Proof of stake to BCH but at the time I refused it because the BCH devs said that they would do Avalanche voting based on POW. Then suddenly Jason Cox from ABC said they made it based
I strongly disagree. Just because Avalanche might be PoS, doesn't mean that BCH is not PoW. Avalanche is pre-consensus. Some sort of pre-consensus is needed for more efficient mempool
syncronization (which helps future scaling massively) and 0-conf security. Also, regarding dynamic block size, that is still very much on the table. BUs ineptitude has nothing to do
with it. BSVs trajectory is a dead end. They ignore fundamental scaling problems, and they still haven't demonstrated that their approach can someday to sustained GB blocks.
Avalanche is a great idea. It will not be the end. It will what truly sets BCH apart from the other Bitcoin forks in a way that makes it bullitproof to 0-conf attacks and scaling.
On POS. I was like "wtf just happened??". One of the other devs asked about but now no one is resisting it. How?? We were always agreeing that BCH should stay a POW coin.
I was debating a lot with others about POS+POW a year ago, arguing in favour of it. I also advocating 1 minute block times and additional, Lyra2Rev2/3/3+ hashable blocks.
1min blocks+POSv2+POW+SHA+lyra2revX = good and secure coin for spending, speculation, investment, both for home miners and both professional miners, node owners, merchants..
Another thing is that the max blocksize is capped at 32MB and #BitcoinUnlimited's work on a dynamic cap based on previous blocks has stalled. Sorry to say this guys but I see...
Disgusting things happening with BCH. It's very difficult and heartbreaking to admit this to myself but I have to be honest. It really doesn't feel good, the way we're heading at.
And I have to admit that some people in the BSV community were right when they said that BCH would get proof of stake because this is happening right now through Avalanche.
Even if Avalanche uses PoS that doesn't mean BCH uses PoS. If Avalanche is just a preconsensus algorithm working alongside PoS it shouldn't be an issue.
People are making too much of a big deal about the technology. As long as it's fast, cheap, and reliable, that's all that matters and what most people will care about.
