BitCash held it’s first Community AMA with our Lead Dev Christian Kassler on 23 November 2019 at 7:00PM UTC. Here is a recap of the questions and answers from the AMA held in discord.
(Each question and it’s answer is copied and pasted directly from discord. Any typos or grammatical errors occurred in the original chat and have not been edited.)
COMMUNITY MEMBER: What kind of measures are you putting in place to protect BitCash from inflation?
CHRISTIAN KASSLER: Yes, there is no real hard limit for the coin supply right now. But in the last months not many new coins were created through the minting process compared to the mining. We have the system with the two prices. One price is a longer-term average and moves slowly and one price moves quickly. Since we introduced this system the problem of the inflation through free gains is no longer a real problem anymore.
COMMUNITY MEMBER: Which Hardware Wallet is likely to be the first to support BitCash/Dollar/Gold? Is there open dialog with one yet?
CHRISTIAN KASSLER: I started to work on the support for Trezor last year, but the problem was, that there was no wallet available which could be used. So I canceled my work on it last year. But I can imagine to work on support for Trezor in the future.
COMMUNITY MEMBER: If you are operating out of the desktop wallet is BitCash pretty much like a Monero fork coin regarding privacy since it uses stealth adresses?
CHRISTIAN KASSLER: No, BitCash is not a real privacy coin. It is based on Bitcoin. We only use the stealth addresses, but not the ring signatures. This means payments are traceable. What we wanted to accomplish with the stealth addresses was, that one nickname can be used over and over again without the need to create new addresses constantly.
COMMUNITY MEMBER: Talking a view from a business perspective which is a look at the current methods in place to drive adoption, are there more plans to in place to aid in adoption. I remember reading, peerQ was being used to help with this. Although a great platform, innovative in this space one could say, I believe it will not be an adoption driving force. Are there future plans either being developed or are developed but yet to be release which will be driving forces for adoption? Example: having BitCash implementated as an award for recycling through already established recycling facilities.
TEAM MEMBER: Check out the peerq 2.0 platform YUUUGE reforms and features.
COMMUNITY MEMBER: I have seen this nevertheless, if we look at Quoras data as an estimate for future growth, yes it will help, yes it will aid but not be a driving force to deliver BitCash to average internet users, many of whom may not even know of Quora. We as those for running the growth of crypto must consider all people of the general populas and not just those of the internet.
CHRISTIAN KASSLER: The new PeerQ will be much more than it currently is. We are constantly working on new methods to aid in adoption. This is just the beginning.
COMMUNITY MEMBER: could you explain the different address types… X, L, b? Whats the purpose? Most coins just have one type. This seems very unique.
So the b addresses are the stealth addresses. So if you send a payment to a b addresse it will end up on a new random address. You will not see the b address on the explorer. The L addresses work just like regular Bitcoin address. Exchanges should use them, because they are much faster than the b addresses if you hold a lot of private keys. The X addresses are also stealth addresses, but they also have a view key. They are used for the mobile wallet and the web wallet for example. The server can store a view key and recognize all incoming transactions.
COMMUNITY MEMBER: Would it be possible to have something like an “instant transaction” feature as dash has it, for example? I feel transactions are still pretty slow compared to some other coins.
CHRISTIAN KASSLER: We do not want to have Masternodes on this coin. With Masternodes the transactions would be faster, yes. But this was one of the very early decisions we made, that we do not want to use Masternodes. So, yes, there may be some coins which have faster transactions. But we have a one minute blocktime so you should get the first confirmation quickly in most cases. Also the transaction itself will arrive even before the first confirmation.
MAX SANCHEZ: And payment channels (which I assume will work on BitCash just as they do on Bitcoin) can provide instant transactions without needing masternodes.
CHRISTIAN KASSLER: Yes, payment channels should work.
COMMUNITY MEMBER: What can you tell us about the integration with e-sports?
TEAM MEMBER: That is something we are evaluating at the moment. We did some sponsorship/partnership with Mazer with hopes of showing off our Send via Twitch feature. I am not so sure it has paid off as much as we’d like. If you have ideas on some good esports relationships that could be beneficial for us please drop them in #ideas
COMMUNITY MEMBER: Is the primary focus to have retail entities accept BITC only or are atomic swaps with BTC a possibility to help adoption? BITC -> BTC -> Retailer? Understanding you’d need a source for both cryptos (exchanges, thurd parties, etc.).
CHRISTIAN KASSLER: So the retail entities could also just use Cryptocurrency Checkout for example. This way they could not only accecpt BTC and BITC but a lot of other coins. It think if a retailer will accept crypto for payment he would currently prefer something like this.
TEAM MEMBER: We have a handful of people that accept BitCash through Cryptocurrency Checkout (check #bitc-accepted-here if anyone is curious)
COMMUNITY MEMBER: Any evidence of ASICs on x16rv2?
CHRISTIAN KASSLER: I am not sure about it. Some people say that there are ASICs on x16rv2. But I really do not know.
COMMUNITY MEMBER: are there any other plans to add any assets/commodities to the mint-and-burn protocol or do you feel two is enough? example: silver, euro, stocks, etc?
CHRISTIAN KASSLER: I personally would love to have the S&P500 on the blockchain. So that people could invest into stocks. Technically it would be absolutely no problem to add new assets. But there are also some cons to consider. To many assets may be very confusing. So we have not decided to add new assets to the blockchain yet. I think if we add new assets, then not in the next few months. Also the team needs to agree to add new assets. So at the moment I feel it is enough for the time being. But again, technically anything is possible.
COMMUNITY MEMBER: Is there any entity pounding the pavement and knocking on doors to expose businesses to BITC? Like a crypto marketing firm that supports startups?
CHRISTIAN KASSLER: Crypto marketing firms contact us all the time. And we are also speaking with them. But it also needs to be affordable for us. Someone is contacting us almost every few days. So I think chances are good, that new people will help us in the future.
COMMUNITY MEMBER: Do you plan to maybe hire another dev. It seems you do a ton of work. Maybe you don’t need one? Just curious.
CHRISTIAN KASSLER: So at the moment I can do the development work as single developer. I have no day to day job, so I have plenty of time which I can spent on BitCash. But at some point in the future we will consider adding more devs.
CHRISTIAN KASSLER: Thanks to everyone for all your great questions!
BitCash Official Links:
Discord — https://discordapp.com/invite/7P4YcXU
Twitter — https://twitter.com/ChooseBitCash
Bitcointalk ANN — https://bitcointalk.org/index.php?topic=5106123.0
Telegram — https://t.me/chooseBitCash