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Topic: Bitmain announces plan to create altcoin if BIP148 succeeds - page 11. (Read 16954 times)

legendary
Activity: 1764
Merit: 1756
Verified Bernie Bro - Feel The Bern!
What's better than being a whale on 1 chain?  Being a whale on 2 chains!!!  

Maybe Bitmain really wants a HF???



i agree with that. Is better for all of us all of this charlatans to leave bitcoin and fork off from the network. No one need them here and for sure no one will miss them Cheesy

Unfortunately a HF may not get rid of Bitmain from either chain.  They have enough hash power to prop both chains as far as I can tell.

A HF for Bitmain means twice the number of coins they currently own and they can mine twice as many coins with the same hashpower, basically.

The biggest risk is obviously the combined value of all coins and future mined coins on the 2 new chains is less than what the original chain would have yielded.

It sure looks like it worked for ETH/ETC whales.

Or maybe I'm nuts...!!!!
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
What's better than being a whale on 1 chain?  Being a whale on 2 chains!!!  

Maybe Bitmain really wants a HF???



if network split then honestly i think everyone will win..we ALL get 2 coins!

You can make the argument about the network effect but i think one coin will have lion's share, even more so than Ethereum because of difficulty adjustments.
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
What's better than being a whale on 1 chain?  Being a whale on 2 chains!!!  

Maybe Bitmain really wants a HF???



i agree with that. Is better for all of us all of this charlatans to leave bitcoin and fork off from the network. No one need them here and for sure no one will miss them Cheesy
legendary
Activity: 1764
Merit: 1756
Verified Bernie Bro - Feel The Bern!
What's better than being a whale on 1 chain?  Being a whale on 2 chains!!!  

Maybe Bitmain really wants a HF???

legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
go ahead and argue away. 

the fork is happening.

nothing you post here will influence miners or businesses.



who really cares?

exactly.  the decisions already have been made.  99.9% of bitcointalk is just noise to the world.

the most noise here is you and Bitmain loved boys. The majority of nodes are still legacy chain....
just to say Tongue
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
go ahead and argue away. 

the fork is happening.

nothing you post here will influence miners or businesses.



who really cares?

exactly.  the decisions already have been made.  99.9% of bitcointalk is just noise to the world.
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
go ahead and argue away.  

the fork is happening.

nothing you post here will influence miners or businesses.



who really cares? legacy chain will win once again and you will one more time find what Bitcoin means....
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
go ahead and argue away. 

the fork is happening.

nothing you post here will influence miners or businesses.

legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
Bitmain is a recipe for economical distaster for everyone. If anyone want to loose his wealth then is free to follow them

but...
I have a new hat for them Tongue and their supporters like franky1... Tongue



im laughing soo much

1. you cry bitmain has all the power and so blaming bitmain for hashing on bitcoin and demanding bitmain go play with an altcoin to not veto BScoin
2. when bitmain says it will take its hashpower out of bitcoin to another alt thus actually helping u bscartels have less hashpower vetoing bscoin....  you cry again..

seems you cannot even see the reality and instead prefer to see fud.

as for calling me a supporter. i begin laughing even further. just because i hate the BScoin agenda that began in 2014.. does not mean i belong in another team/brand

but i think its hard for sheep to not understand anything beyond the lifestyle of sheep. which may explain why many cant understand the logic that i stand on my own with my own opinions.

but enjoy crying about anything spoonfed to you by the r/bitcoin controller theymos.

maybe worth people start to think byond what has been spoonfed to them and see all the possibilities..

TL:DR;
if bitmain move to another altcoin.. the BSCartel are 16% closer to getting their BScoin
try to take a break have a coffee and think about the info handed to you.. repeating reddit scripts adds nothing to the debate

you deserve an answer not for me but for your beloved Bitmain company

Quote
Many of the software developers who work in a software project called “Bitcoin Core” ....

yeah a software called bitcoin core. First time i hear this Cheesy
and another...

Quote
censored forums, many of which are controlled by single anonymous individuals

what is your real name again? Because i like to propose you as a candidate of Bitcoin Unlimited president...  Grin
newbie
Activity: 46
Merit: 0
No need for drama guys. Could someone simply state a technical reason why the core proposal would not be a good idea?

this was helpful for me: https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
legendary
Activity: 4270
Merit: 4534
Bitmain is a recipe for economical distaster for everyone. If anyone want to loose his wealth then is free to follow them

but...
I have a new hat for them Tongue and their supporters like franky1... Tongue



im laughing soo much

1. you cry bitmain has all the power and so blaming bitmain for hashing on bitcoin and demanding bitmain go play with an altcoin to not veto BScoin
2. when bitmain says it will take its hashpower out of bitcoin to another alt thus actually helping u bscartels have less hashpower vetoing bscoin....  you cry again..

seems you cannot even see the reality and instead prefer to see fud.

as for calling me a supporter. i begin laughing even further. just because i hate the BScoin agenda that began in 2014.. does not mean i belong in another team/brand

but i think its hard for sheep to not understand anything beyond the lifestyle of sheep. which may explain why many cant understand the logic that i stand on my own with my own opinions.

but enjoy crying about anything spoonfed to you by the r/bitcoin controller theymos.

maybe worth people start to think byond what has been spoonfed to them and see all the possibilities..

TL:DR;
if bitmain move to another altcoin.. the BSCartel are 16% closer to getting their BScoin
try to take a break have a coffee and think about the info handed to you.. repeating reddit scripts adds nothing to the debate
legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
However, because of BitPay's influence I think the "economically winning" chain will be the one BitPay chooses.

I'd say of all companies it's Coinbase who wield the largest phallus. They have a history of being somewhat wishy washy too.

Both are important - I think the coin that BitPay and Coinbase support will win. Both have supported Segwit2x. For BitmainCoin, it is only speculation that Bitpay could support them if Segwit2x fails.

Quote
I've no idea about the various forks, but if Bitmaincoin wins out then I'm done. I didn't sign up for that. I didn't sign up for most of what's developed but that would be the final straw.

I don't like Bitmaincoin because the power balance in this chain would be greatly distorted towards the miners. But as already said the most reasonable outcome is a compromise because this way we avoid splitting the community and reducing the network effect. My favourite is a soft-forked 2MB+Segwit solution proposed in the German forum (where only new-style tx could fill the 2MB) but Segwit2x is also ok.

If there is a split, I think the "flippening" will occur instantly and even Ripple has chances to get a higher market cap than any of the 2 or 3 Bitcoin-based chains.
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
legendary
Activity: 924
Merit: 1000
Satoshi talked about digital cash. You can't have digital cash with corporations running the nodes. Satoshi was wrong, he failed to predict the current situation. Bitcoin loses its store-of-value properties with a large blocksize.

Most people with real money invested in bitcoin don't care about whatever "satoshi's original vision" was. They understand being able to run nodes is a priority.

you can have digital cash without corporate control... growth via NODES (dynamics) means nodes display what they can handle and pools follow the consensus..

there is no "gigabytes by midnight causing datacentres" debate .. you have been hypnotised into that FUD

you have been brain washed that the BScore-porate control is the only way..

all the segwit imps and bips
gavin+garzig(BLOQ->DCG)
baryysilbert(dcg)
core(blockstream->DCG)
uasf(samson/lerner->DCG)

are all the same BS

BS= blockstream, B*ll S*it, barry silbert...  its all the same BScartel

goodluck with you BScoin

You keep repeating this "there is no "gigabytes by midnight causing datacentres"" nonsense. When will you understand that technologies like bitcoin, get exponentially adopted which would mean there would be no way to smoothly scale on-chain transactions to handle all the demand without ending up with datacenters running nodes?



Notice how "gigabytes by midnight" would indeed be the case once the curve of adoption reaches the typical steepness and then you are fucked if you want to keep the fees low and keep everyone transacting on-chain happy without complains of "blocks are full".

Well, none happened by "midnight" that's for sure.

There are many solutions yet to be explored.

Datacentres - Do people expect that to mean large corporations? Anyone can run a datacentre from their home.
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
sr. member
Activity: 276
Merit: 254
Its funny to see so many people taking Bitmain words so seriously. If nothing else, mining secretly a chain with Bitmains 20% hashrate does not make any rational sense because there going to be always longer chain with the remaining 80% non-Bitmain hashrate, no matter how you split the remaining 80% between BIP 148 altcoin and Bitcoin. So it is just some politic game/influencing the markets instead.

Talk is cheap, it reminds me theymos saying when median fees increases over $1, base blocksize increase should be considered  Smiley
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
Bitmain is a recipe for economical distaster for everyone. If anyone want to loose his wealth then is free to follow them



but...
I have a new hat for them Tongue and their supporters like franky1... Tongue

https://pbs.twimg.com/media/DCUTHlgUQAA_0MZ.jpg
legendary
Activity: 4270
Merit: 4534
Satoshi talked about digital cash. You can't have digital cash with corporations running the nodes. Satoshi was wrong, he failed to predict the current situation. Bitcoin loses its store-of-value properties with a large blocksize.

Most people with real money invested in bitcoin don't care about whatever "satoshi's original vision" was. They understand being able to run nodes is a priority.

you can have digital cash without corporate control... growth via NODES (dynamics) means nodes display what they can handle and pools follow the consensus..

there is no "gigabytes by midnight causing datacentres" debate .. you have been hypnotised into that FUD

you have been brain washed that the BScore-porate control is the only way..

all the segwit imps and bips
gavin+garzig(BLOQ->DCG)
baryysilbert(dcg)
core(blockstream->DCG)
uasf(samson/lerner->DCG)

are all the same BS

BS= blockstream, B*ll S*it, barry silbert...  its all the same BScartel

goodluck with you BScoin

You keep repeating this "there is no "gigabytes by midnight causing datacentres"" nonsense. When will you understand that technologies like bitcoin, get exponentially adopted which would mean there would be no way to smoothly scale on-chain transactions to handle all the demand without ending up with datacenters running nodes?

Notice how "gigabytes by midnight" would indeed be the case once the curve of adoption reaches the typical steepness and then you are fucked if you want to keep the fees low and keep everyone transacting on-chain happy without complains of "blocks are full".

lol "by midnight".......    ??

1. bitcoin WILL NOT become a one world currency where everyone is using it for everything...
2. bitcoin WILL NOT become a one world currency

once you stop hitting your head against the BS brick wall and wake up to realitiy that OVER DECADES
wait have to make this clear for you
OVER DECADES
and using an actual realistic user adoption growth and expectation. bitcoin can grow and cope.

your argument is like trying to tell activision to cease making Call of duty games because millions of people cant online game... when infact millions of people do online game.. and ontop of that they livestream in HD their gameplay, while also running commentary through voice chat and livestreams simultaneously.

holding at 1mb when 32mb is capable, but 8mb is 'average joe in wheatfield safe', and even when core themselves deem 4-8 safe but prefr 4mb to be extra anal.. shows how fooled you are.

there is no reason for 1mb to remain at all.. no reason

the hold at 1mb due to gigabytes by midnight, is the same stupid mindset as amputating newborn babies legs out of fear they may run into a car when older. so stopping them from running is the solution and throwing them into a electric wheelchair is the counter-solution to the amputation solution
legendary
Activity: 1204
Merit: 1028
Satoshi talked about digital cash. You can't have digital cash with corporations running the nodes. Satoshi was wrong, he failed to predict the current situation. Bitcoin loses its store-of-value properties with a large blocksize.

Most people with real money invested in bitcoin don't care about whatever "satoshi's original vision" was. They understand being able to run nodes is a priority.

you can have digital cash without corporate control... growth via NODES (dynamics) means nodes display what they can handle and pools follow the consensus..

there is no "gigabytes by midnight causing datacentres" debate .. you have been hypnotised into that FUD

you have been brain washed that the BScore-porate control is the only way..

all the segwit imps and bips
gavin+garzig(BLOQ->DCG)
baryysilbert(dcg)
core(blockstream->DCG)
uasf(samson/lerner->DCG)

are all the same BS

BS= blockstream, B*ll S*it, barry silbert...  its all the same BScartel

goodluck with you BScoin

You keep repeating this "there is no "gigabytes by midnight causing datacentres"" nonsense. When will you understand that technologies like bitcoin, get exponentially adopted which would mean there would be no way to smoothly scale on-chain transactions to handle all the demand without ending up with datacenters running nodes?



Notice how "gigabytes by midnight" would indeed be the case once the curve of adoption reaches the typical steepness and then you are fucked if you want to keep the fees low and keep everyone transacting on-chain happy without complains of "blocks are full".
newbie
Activity: 38
Merit: 0
What is funny about this to me is that the whole premise of Bitcoin is to have a low-cost, decentralized currency.  However:

1. It isn't low-cost (a $1 transaction costs $4 with the transaction fee (at a minimum))
2. It isn't decentralized (1 organization has a massive influence).  This announcement has caused a swing of $400 USD in the currency value TODAY!

I say bring BIP148 and give the valuable coin back to the ordinary miners that don't have massive warehouses of efficient miners with free energy in China?  Would that actually happen (I legitimately don't know to make a judgement)?

the way mining works condemns the process to concentration. it doesn´t have to be under the same owner but concentration is the only way. Sunking the price actually damages only the regular home-based miner bloke. We shouldnt believe conspiranoias. Most miners are modest home/garage-based miners.
There is no easy solution for that.
Anyway this is all bitcoin politics against miners when miners are actually needed in the whole system. In fact mining is not the problem at all. The problem that must be answered is the bottleneck in the transaction flow. that´s it. that will bring times and fees back to normal. If you use a system that damages mining income too much you are heading for more centralization.


regarding price. Any non-agreed move in bitcoin will lead for a severe correction. August was to be tough yesterday and it´s going to tough tomorrow. Today is official but the split was the most likely scenario with ot without announcement.
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