RE: Royal Crypto Fork - WILL THE REAL BITCOIN PLEASE STAND UP? Learn about Bitcoin Private - BTCP

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Royal Crypto Fork - WILL THE REAL BITCOIN PLEASE STAND UP? Learn about Bitcoin Private - BTCP

in cryptocurrency •  7 years ago 

When I first saw bitcoin there where two things that I want to see in a fork. ASIC resistance for GPU mining (I have been mining bitcoin gold with my GTX 1080) and privacy. BTCP checks both boxes with the 2MB block and 2.5 minute block time being icing on the cake. If all the bitcoin forks and bitcoin core were in a classroom and the teacher asked "will the real bitcoin please stand up" bitcoin private would be the only one that should stand.

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I agree without completely.

Just keep in mind though, ASIC resistance is up to the development team. There is no such thing technically as ASIC resistance. ASIC resistance is about the project being willing to hard fork the algorithm in the event of an ASIC being developed.

For example if BTCP were to go flying and start crossing $1,000 to $2,000 with a real chance of it replacing Bitcoin, then you will have ASIC's for equihash too. At which point ZCash would need to change their proofing algo for BTCP to remain ASIC resistant.

An ASIC can be developed for just about anything. It is just a computer that has a single purpose and it is very efficient at doing that one thing. The problem is when things get memory intensive, designing an ASIC becomes very expensive. If the coin can be sold for a high enough amount then they will spend the resources to make an ASIC for something.