Why We Switched to Bitcoin Cash

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Ryan has been active in the bitcoin community sinceand has been an active contributor to the Bitcoin open-source community. He is the creator and CEO of Yours. Previously, Charles was a cryptocurrency engineer at Reddit, and led development for Reddit's cryptoequity project. San Francisco, CA Location. Bio Ryan has been active in the bitcoin community sinceand has been an active contributor to the Bitcoin open-source community.

By Satoshi's Vision Ryan x charles on why he switched yours to bitcoin cash. Roger Ver and Ryan X. Best crypto use case is 'ability to earn money on the Internet'.

Ryan X Charles, Yours. Interview with Ryan X. Charles, CEO of Yours. Bigger Blocks for Bigger Decentralization. The Adam Morgan Show Making Bitcoin Cash Mainstream. By Liberty Entrepreneurs Podcast. Charles Blockstack Summit EB — Ryan X. By The Isaac Morehouse Podcast. Charles, cryptocurrency engineer for Reddit TheProtocol. By The Future of Bitcoin. Video interview with Ryan X. By FinTech Silicon Valley. Charles on BitPay's Copay and Multisig. By Texas Bitcoin Conference.

Bitcoin Hard Fork Canceled. Recent Tweets From ryanxcharles. Bitcoin Litecoin Ethereum Bitcoin Cash.

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We have launched an invite-only preview and are planning the full launch on May So we have developed a micropayments solution on bitcoin. Our solution is like the lightning network, but is not dependent on segwit. We are the first and only group to demonstrate a working routed micropayment on bitcoin today.

The marginal cost of a transaction on our network is zero, allowing genuine micropayments of one cent or lower. However, something changed over the past year on bitcoin while we developed our technology.

Demand for bitcoin transactions has increased and the maximum block size has remained arbitrarily limited to one megabyte. So transactions have to compete to get into a block. This has resulted in an increase in the cost for on-chain transaction fees from about five cents to about one dollar.

Since our technology is based on payment channels, we have to create on-chain transactions to onboard and offboard users. Users would have to put far more money onto the system to make the fees worthwhile. That is uncomfortably high for a consumer product intended to reach a wide audience with low barrier to entry.

And fees are still rising quickly. As such, we have had no choice but to investigate switching to an altcoin before launch. Litecoin has a large economy and our technology works on litecoin with almost no changes. We like ethereum too, but ethereum is too different from bitcoin for us to easily switch. Litecoin has the best combination of economic size and technical similarity to bitcoin. On Litecoin, transaction fees are only a few cents. Litecoin is one hundred times better for our application today than bitcoin.

We are currently migrating our infrastructure from bitcoin to litecoin. Mainstream apps like Yours will be how a global audience finds economic freedom with blockchain technology. Both on-chain and off-chain scaling will be necessary to achieve this vision.

Long-term, litecoin will have the same problem as bitcoin because it too has a limited block size. Lessons learned on one chain can be applied to the other.