Manage episode 203730982 series 1435652
Bitcoin and Bitcoin Cash are two cryptocurrencies with similar properties. But the supporters of each of these Bitcoin versions have strongly divergent opinions on the direction of the Bitcoin project. At the center of this debate is the subject of block size.
Bitcoin’s block size determines how many transactions fit into each block that is mined. A larger block size leads to faster transactions and lower fees, but creates higher demands on mining hardware. A smaller block size leads to a slower on-chain network and higher fees, but allows the full nodes on the network to be run on low performance hardware like Raspberry Pi.
Bitcoin Cash has a large block size. Bitcoin Core has a smaller block size. Proponents of the smaller block size argue that Bitcoin’s scaling can be achieved by the off-chain “lightning network” solution.
Roger Ver is a Bitcoin entrepreneur and investor. Since he discovered the currency, he has been buying it and evangelizing it. More recently, Roger has become an ardent supporter of Bitcoin Cash–emphasizing that Bitcoin Cash is Bitcoin.
In this episode, Roger describes his economic ideology, and explains why Bitcoin is so important to him. We explore how vested interests can shape the narrative and the direction of Bitcoin, and talk about the future of how corporations, governments, and individuals might be using cryptocurrencies.
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