What is BCC BTC (What is Marxism)?

What is BCC BTC? What is BCC/TC? Blockchain is a peer-to-peer distributed ledger technology. Bitcoin, Ethereum, and other public chains adopt this consensus mechanism to maintain the network. However, the mainstream blockchain protocols currently do not operate entirely according to this model. The so-called “BCC” refers to the use of a technology called “BlockchainCoreCash” (referred to as BCT), which aims to achieve dual currency issuance and circulation using BCH, and create a new global encrypted financial system (GlobalCryptoFinance) by combining the two.

Therefore, BCC has become the world’s first community dominated by Bitcoin. After its official launch in May 2018, it has gained support from many top companies, including Coinbase CEO Brian Armstrong, which has greatly increased the attention of some of the most outstanding participants in the Bitcoin ecosystem. However, as more and more developers join the alliance, these members gradually realize that their knowledge has reached its limit and they don’t even have the ability to understand the technical details behind this project. (BitcoinMagazine)

What is Marxism

What is the ideal of the revolutionary party? What is it, how does it work, and what is its connection to Bitcoin and Ethereum?

This article starts from a centralized theory, explaining why blockchain, Bitcoin, and other cryptocurrencies are so useful to people.

We are now in the era of the “information internet” where knowledge is spread globally. With the development of technology, people can access data in the simplest way (i.e., sharing their own data through these networks) and take advantage of the benefits of this new technology, such as privacy.

However, without open-minded or decentralized thinking, it cannot be guaranteed that the information of all individuals can be accessed in such a system, as everyone has the right to participate in decision-making. So, what is democracy? It is a philosophical trend about how to use public goods in transactions, but it also requires some economic background to understand.

So what causes this movement to have an impact? Let’s first understand the fundamentals of modern economics:

1. Centralization: A centrally controlled economic system under government dominance, including private banks, federal savings associations, and other institutions. They are considered pillars of the financial market and are usually state-supported, thus having a high degree of autonomy and not relying on any intermediary entity or business organization; their operations are completely independent of central banks.

2. Political corruption: Many politicians fail to manage their interests and reputation effectively due to a large number of corruption examples. When it comes to elections, there must be a result generated by central voting deciding whether to allow an event to happen.

3. Productivity-driven: Companies can gain competitive advantage by creating a new form of asset.

4. Social capitalism: Workers rely on Proof-of-Work (PoW) as a consensus mechanism to maintain price stability. However, only a few companies are willing to do this in order to survive. This is called a monopoly, where producers only have a portion of the market share instead of the entire supply. If the price of a commodity is higher than the supply, consumers lose profit, while others lose most of the profit.

5. Elite class: The average annual income of most freelancers is more than 50% higher than that of unemployed people, or they may consider themselves wealthier.

6. Rise of anonymity and non-anonymity: The characteristics of anonymity and immutability lead to problems with anonymity. “Anonymity is not the only solution” because anonymity is easily attacked by “forging value and false statements.”

7. Selfishness and self-fulfillment: Lack of openly transparent record-keeping means. To maintain secrecy, citizens may attempt to steal funds and send them to the outside world. (Source: Twitter)

8. Cryptographic-based technologies, such as zero-knowledge tokens (Zcash), can verify their authenticity on the chain, enabling them to track trusted third parties.

9. Pure speculation: Although Bitcoin is popular, some anonymous projects still fail to gain wide application.