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Bitcoin SV: Mandatory replay protection damages its value proposition, says Money Button CEO




Bitcoin SV: Mandatory replay protection damages its value proposition, says Money Button CEO
Source: Unsplash

Ryan X Charles,  the CEO of Money Button and a Bitcoin Cash SV proponent, stated that he was against the Bitcoin Cash mandatory replay protection, in his latest Youtube video.

Recently, Calvin Ayre, the Founder of Ayre Group, spoke about the famous Bitcoin Cash hash war through a post on CoinGeek’s official portal. He claimed that Bitcoin Satoshi Vision [SV] is not the original Bitcoin Cash, whereas it is the original Bitcoin. He went on say that Bitcoin developers always tinkered the coin to death because of the Bitcoin Segwit fork and abandonment of the Nakamoto consensus and betraying the trust of the miners by the ABC team.

This was followed by Ayre stating that CoinGeek wants a permanent split by the chains by the ABC team by enacting replay protection. He also added that they do not want the Bitcoin Cash ticker symbol.

Charles stated that it he is anti-mandatory replay protection as it is “very disruptive” to the network. He also stated that the key value proposition of Bitcoin SV is that it is a stable protocol and that even though it is not equivalent to the original Bitcoin protocol, it “extremely close” and that this will be damaged by the replay protection.

The CEO of Money Button said:

“You don’t need mandatory replay protection. If you want replay protection, this is an example of a problem that can be solved with Bitcoin already. You can do voluntary replay protection […] and voluntary split.”

He went on to say that this could be done in two ways. The first way, according to him, is that people can use the existing spit coin, adding that all the new coins that miners are mining is split. Charles stated:

“So you can distribute split dust to people for instance or people can pay for you can build it into a third party service or who knows what you use that existing split coin to combine with your wallet you spend from it you merge that with your other UTXOs. You now have split coin. you take the other coin that’s not you know sort of you know a valid transaction on the other network on ABC and you can recover your ABC coin that’s one way to do it”

Charles further stated that people can also split their coins themselves by using the new opcode, like OpMul wherein people can make transactions that is valid only on Bitcoin SV and not valid on Bitcoin Cash ABC bad split their coins.

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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1 Comment

1 Comment

  1. Uberse

    February 6, 2019 at 10:16 AM

    So let me guess: no replay protection for the foreseeable future, and possibly no replay protection ever and the hash war just continues on like a cold that won’t go away.

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