After thinking about it for not too long (and after cuddling in foetal position for some good 10 minutes realizing how consensus-less fanatics have provocked this abrupt awaken of a beutiful dream) by now I am cashing my BTC immediately.
I'll be sure to reply to your post about $2 fees too much for a $10 transaction for when you cash out. 
Topic: Bitmain announces plan to create altcoin if BIP148 succeeds - page 15. (Read 16962 times)
After thinking about it for not too long (and after cuddling in foetal position for some good 10 minutes realizing how consensus-less fanatics have provocked this abrupt awaken of a beutiful dream) by now I am cashing my BTC immediately.
This is actually great news for Bitcoin holders (seriously). People are dumping for dumb reasons (is it news to anyone that there is a contentious scaling debate)? Meanwhile, the major obstacle to scaling is declaring that they are going off and creating their own altcoin, and in doing so signaling that BIP148 must have greater strength than generally realized, which means it is likely to succeed now
There are some issues with this logic
First, you (most likely) erroneously assume that miners (represented by Jihan and his henchmen) are actually going to fork Bitcoin. So far the consensus has it that he is just bluffing and he is not going to shoot himself in the foot (or right in the head). That may well be true, and if so, things might be and likely are a lot more complicated than that (i.e. just forking Bitcoin as announced). Second, Jihan may have actually sold his soul already (to fiat demons), and he is following some really nasty plan or scheme in respect to Bitcoin and its future, so it is not just about forking Bitcoin either, and things are not just complicated, they are in fact really dangerous in what concerns the very Bitcoin existence as such
While it generally looked like the split was inevitable, even I wasn't expecting quite this level of brinkmanship from both sides, heh. My only suggestion to everyone would be not to let the big personalities set the narrative and tell you how to react. Don't take anything at face value, regardless of who said it, because everyone has their own agenda. Consider all the pros and cons, do your own research and make up your own damn minds. And most important of all, don't do anything rash or hasty without thinking it through. It might all seem like a massive drama, but calm heads usually prevail.
I can see why it might seem like a good idea, but there if a potential to lose out doing it that way. Hodling in the event of a split means you get coins on both chains. Selling before the split means you have to buy back after the split and choose very carefully which chain you think has the best chance of survival. And if you take too long deciding, the fiat price may well recover to a level above the point that you panic sold.
After thinking about it for not too long (and after cuddling in foetal position for some good 10 minutes realizing how consensus-less fanatics have provocked this abrupt awaken of a beutiful dream) by now I am cashing my BTC immediately.
I can see why it might seem like a good idea, but there if a potential to lose out doing it that way. Hodling in the event of a split means you get coins on both chains. Selling before the split means you have to buy back after the split and choose very carefully which chain you think has the best chance of survival. And if you take too long deciding, the fiat price may well recover to a level above the point that you panic sold.
The likely outcome of this is three chains (unless BIP148 gathers enough support so that it remains the same with status quo):
1) BIP148 Segwit.
2) Status Quo (the one that we are using today).
3) Bitmain coin.
Can you guess which one I'll be dumping?
There is no such thing as an "economic majority". 95% of Bitcoin users don't care or are uneducated when it comes to the scaling debate. A handful of CEO's saying they support this or they support that, is nothing more than political gerrymandering that literally means nothing, unless they personally own large chunks of hashpower, That is
I can definitely say that you talk too much
You can discard the economic majority as non-existent in the same way as you can throw away the law of gravity. You may think that it doesn't exist and whatnot, but it is what gravity itself thinks which is what finally matters. In other words, your ignoring of the economic majority doesn't make it less effective. More specifically, while 95% of Bitcoin users may in fact be uneducated or even ignorant (just like you) but since their coins are mostly traded, exchanges would act as their proxies and on their behalf. So you may very well consider the major exchanges as the economic majority. And they certainly do care, and you can easily picture what they think about Jihan Wu and his efforts
I am more ignorant than the average "Legendary" here but let me tell you my opinion FWIW. First, I love the whole idea of a good crypto, that's what brought me here to Bitcoinistan...
But, if this whole thing ends badly, I am OUT! I'll wait patiently for an Alt that might be better, less contention and drama. Maybe some more forward thinking too. Include better anonymity, and I would take a good look.
BTC turning into one or more shitcoins will not work for non-tekkies like me...
There is no such thing as an "economic majority". 95% of Bitcoin users don't care or are uneducated when it comes to the scaling debate. A handful of CEO's saying they support this or they support that, is nothing more than political gerrymandering that literally means nothing, unless they personally own large chunks of hashpower, That is
I can definitely say that you talk too much
You can discard the economic majority as non-existent in the same way as you can throw away the law of gravity. You may think that it doesn't exist and whatnot, but it is what gravity itself thinks which is what finally matters. In other words, your ignoring of the economic majority doesn't make it less effective. More specifically, while 95% of Bitcoin users may in fact be uneducated or even ignorant (just like you) but since their coins are mostly traded, exchanges would act as their proxies and on their behalf. So you may very well consider the major exchanges as the economic majority. And they certainly do care, and you can easily picture what they think about Jihan Wu and his efforts
I beg to differ here, mate. features appart, bitcoin is a currency and as such it has to protect value. All this frenzy TV-soap with unilateral UASF is the kind of idiocy that bitcoin could have helped to prevent a long track of idiotic monetary policies in different countries where people had been exposed until now. Stronk Bitcoin is a clear message to authorities declaring that if you screw your monies I flee to bitcoin and screw you. This last chapter is a pathetic show on how we as a community are not able to represent a decent alternative to any fiat currency. as sad as it makes me writing this.
This has been ongoing since 2010 pretty much and you shouldn't be surprised that it's still an issue. There will always be power struggles and user dissatisfaction. Everyone wants it to be all things to them while other groups want it to be all things to them.
true say but I find it´s normal that tensions arise and agreements may take a long time to be reached but a split-up it's breaking the game, IMO.
What happend with those BU supporters these days? For months i've seen walls of text with anti-Core anti-Segwit anti-Lightning content. Look what there overlord Jihand Wu is doing now, he dropped BU and focusing on Core's disign called Segwit. 
Jihan is swapping camps by supporting BIP48 ore BIP49 in the end. Saving face is very important in Asia.
Jihan is swapping camps by supporting BIP48 ore BIP49 in the end. Saving face is very important in Asia.
I beg to differ here, mate. features appart, bitcoin is a currency and as such it has to protect value. All this frenzy TV-soap with unilateral UASF is the kind of idiocy that bitcoin could have helped to prevent a long track of idiotic monetary policies in different countries where people had been exposed until now. Stronk Bitcoin is a clear message to authorities declaring that if you screw your monies I flee to bitcoin and screw you. This last chapter is a pathetic show on how we as a community are not able to represent a decent alternative to any fiat currency. as sad as it makes me writing this.
This has been ongoing since 2010 pretty much and you shouldn't be surprised that it's still an issue. There will always be power struggles and user dissatisfaction. Everyone wants it to be all things to them while other groups want it to be all things to them.
After thinking about it for not too long (and after cuddling in foetal position for some good 10 minutes realizing how consensus-less fanatics have provocked this abrupt awaken of a beutiful dream) by now I am cashing my BTC immediately.
This is actually great news for Bitcoin holders (seriously). People are dumping for dumb reasons (is it news to anyone that there is a contentious scaling debate)? Meanwhile, the major obstacle to scaling is declaring that they are going off and creating their own altcoin, and in doing so signaling that BIP148 must have greater strength than generally realized, which means it is likely to succeed now.
In short: Bitcoin price is down at precisely the time when we can see some light at the end of the tunnel.
I beg to differ here, mate. features appart, bitcoin is a currency and as such it has to protect value. All this frenzy TV-soap with unilateral UASF is the kind of idiocy that bitcoin could have helped to prevent a long track of idiotic monetary policies in different countries where people had been exposed until now. Stronk Bitcoin is a clear message to authorities declaring that if you screw your monies I flee to bitcoin and screw you. This last chapter is a pathetic show on how we as a community are not able to represent a decent alternative to any fiat currency. as sad as it makes me writing this.
oh i knew this would happen, what is this new coin that they would mine a fork of the original chian or an enterely new one, or maybe a coin already on the market?
It'll be a new fork of Bitcoin sort of in the vein of how XT/BU/Classic would've worked, but apparently he plans a little extra premine of 5400 "BTC" for himself.
so this prove that miner are untrustworthy, i bet they just want to do this to have that premine, and hard fork are perfect for that i would not be surprised if they do it in the future for another reason
or they could do another one int he future, as a fork, and make that shitty "swap scam trend" with their BU fork, 1:1
After thinking about it for not too long (and after cuddling in foetal position for some good 10 minutes realizing how consensus-less fanatics have provocked this abrupt awaken of a beutiful dream) by now I am cashing my BTC immediately.
This is actually great news for Bitcoin holders (seriously). People are dumping for dumb reasons (is it news to anyone that there is a contentious scaling debate)? Meanwhile, the major obstacle to scaling is declaring that they are going off and creating their own altcoin, and in doing so signaling that BIP148 must have greater strength than generally realized, which means it is likely to succeed now.
In short: Bitcoin price is down at precisely the time when we can see some light at the end of the tunnel.
This user is currently ignored because I already know what it's going to write.
You're really persuading me with your stunningly intricate way of getting deep into my mind and influencing me. I feel like nothing more than a helpless marionette with the sheer elegance of your manoeuvring.
After thinking about it for not too long (and after cuddling in foetal position for some good 10 minutes realizing how consensus-less fanatics have provocked this abrupt awaken of a beutiful dream) by now I am cashing my BTC immediately.
I've no idea about the various forks, but if Bitmaincoin wins out then I'm done. I didn't sign up for that.
Actually, Bitmains fork is exactly what you signed up for, true to Satoshis vision. What no one signed up for was BlockstreamCores 1mb forever banker settlement token. If that wins out, then I and many others are done. Good thing it won't win because it has a tiny minority support.
+1 for comedy, 25hashcoin. Your posts are hilarious.
I've no idea about the various forks, but if Bitmaincoin wins out then I'm done. I didn't sign up for that.
Actually, Bitmains fork is exactly what you signed up for, true to Satoshis vision. What no one signed up for was BlockstreamCores 1mb forever banker settlement token. If that wins out, then I and many others are done. Good thing it won't win because it has a tiny minority support.
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.
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.
An economic majority can push hashrate over eventually. Miners can only mine for so long while loosing money on a chain that's worth way less. I don't think UASF will actually succeed, but an economic majority could definitely render the hashrate before the split irrelevant after a month or two.
Correct. I don't think an UAHF coin will be worth more than $500 if it's only supported by miners and a few small companies. But I got the impression that BitPay is willing to support everything that is better than the status quo - except UASF BIP 148. So Bitmain's UAHF may get support from BitPay if UASF "succeeds" - and then they have already one of the biggest economic actors on board.
BitPay must be one of the actors that are most suffering the high fees, so their stance is understandable without any conspiracy theories. They are among the most fervent supporters of Segwit2x.
There is no such thing as an "economic majority". 95% of Bitcoin users don't care or are uneducated when it comes to the scaling debate. A handful of CEO's saying they support this or they support that, is nothing more than political gerrymandering that literally means nothing, unless they personally own large chunks of hashpower, That is.
I agree with respect to the "apolitical majority". But we have two major players that could influence this majority:
- the Core client, which is the most used;
- BitPay, which is the only significant payment processor.
If Core decided to integrate BIP148 into the code (it's possible if things escalate further) then they will have some users that simply download "the latest Bitcoin version" (not knowing that it's not fully compatible to the legacy chain). That should not be ignored. However, because of BitPay's influence I think the "economically winning" chain will be the one BitPay chooses.
Pls dump moar.
Jihan's cheap coins mmmh delicioussss
Jihan's cheap coins mmmh delicioussss
Did any of you Bitcoin whales started the dump on Finex? 
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