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We want first class tokens on BCH!
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Imagine the power if Venezuelans, Africans, etc. could have proper cash ie P2P magic internet money Bitcoin Cash (BCH)! This is already happening thanks to amazing efforts of individuals from the BCH community. For many, first contact with crypto is through BCH. That foundation will prove to be so powerful years from now.

Now imagine more, imagine if they could also own gold, Bitcoin (WBTC), S&P500! If they could hedge against local currency risks, if exposure to BCH and tokens would enable them broader education in financial markets! That's billions of people tapping into what's historically been reserved only for the upper classes in western societies. See the potential! Feel the power!

Imagine if people who don't have ways to track ownership because their institutions are corrupt suddenly get a way to go around all that bullshit. It's so empowering I get the chills from thinking about it. That is real power to the people!

And for everyone to want to have those on BCH blockchain it needs to be the best at solving that problem! Success is all about competitive advantage. Why would someone use your solution if there are better ones on the market? Right now our main competitive advantage are low fees. Let's expand that to first class tokens low fees.

Imagine the possibilities. Imagine having a WBTC that's better than BTC. Imagine BCH miners earning BCH because people want to move their WBTC for low fees hah. It could literally devour BTC, and any other "store of value", like PAXG. You could have all of your assets (BTC, PAXG, tokenized stocks?), fiat cash (TUSD, PAX) and P2P magic internet money Bitcoin Cash (BCH) on the same blockchain! Long time ago we saw VISA as competition. Well, it doesn't transact in just 1 currency, it does all of them.

That's why I like Andrew Stone's argument so much:

So letā€™s talk product philosophy, because excepting BTC with its 1st mover advantages, blockchains are effectively products competing for users. Hereā€™s a key product design idea:

If you canā€™t be better in all respects than an established competitor, then at least be different.

Why? Because your differences will mean that you are better at some things (while being worse at others). Ideally of course, you want to be better at MORE things then you are worse at. But even if you are worse at more things, your different product can find applications that specifically need what you are better at.

This is the philosophy I think we should use with Bitcoin Cash. Verses Bitcoin, weā€™ve made it worse on low end machines/internet connections to make it better at handling large volumes of transactions. Verses Ethereum, we shouldnā€™t make it a (worse) general purpose computer (and no, we are never going to slowly build BCH script into something that can out perform the ETH VM which is IIRC going to leverage web assembly). Instead, lets make it really good at handling crypto-financial computing. The way to do this is to have powerful primitives for that task. This is why I want super-efficient native tokens, rather than implementing them at the scripting layer. This is why I want OP_PUSH_TX_DATA (transaction introspection) rather than using the inefficient CDS ā€œtrickā€. This is why nextchain.cash implements variable sized big nums rather than picking 256bits (say). Ethereum defines uint256ā€¦ my big num implementation will be (perhaps ā€“ its using libgmp where very clever people are focused on performance and writing asm implementations for common architectures) very slightly less efficient at 256 bit numbers but more efficient at every other size.

https://bitcoincashresearch.org/t/cashtokens-pmv3-fixed-size-inductive-proofs-transaction-integer-compatibility/265/18

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3 years ago