Topic: Bitmain announces plan to create altcoin if BIP148 succeeds - page 9. (Read 16934 times)

This word has lost its meaning long ago

So your whole question is meaningless since you can always claim that this is not what Jihan actually wants. On the other hand, profits are simple and easily understandable to anyone with half a brain. Since it seems that you don't question that point, Jihan wants profits, and that means more hashing power and more fees for himself (think centralization here). As simple as that. But it is obviously against Bitcoin if it goes above and beyond certain limits, and Jihan has already gone well past them, even though it is an ultimate outcome of the flaws in Bitcoin design (in respect to mining)

i also believe that is an illusion anyone to calculate marketcap of commodities in fiat money. The price of any commodity is only the price when someone sell and the others are only a guide for it.
There is hope in what will happen i two days

https://github.com/btc1/bitcoin/pull/21

if will be a suprise tomorrow with segwit2x proposal and segwit activate firs and is compatible with the current segwit proposal then Bitmain future in bitcoin ecosystem will not be so bright

I usually look at altcoins to be assessed merely as the useful part they could have for anyone and as such I only see ETH and ZEC having some background value. The rest seem to me like football tifossi movements and handsome icons.
None of them by now can say that big merchants or entire coutries have been bough in as with bitcoin, that is, until this shameful display showed up demonstrating that humans are the weakest link in the consensus system.

there is no 40 billion. that's market cap. market cap don't mean a thing. see it evaporate to nothing if 5% of whales decided to get out in short order. with certain alts it would only take 0.1% of whales to completely destroy everything.

So how do  these people actually store their 40 billion $?

I would suppose at least half of it is in cold storage, which is owned by whales.

And the other half is like distributed between newbies who have a coffee money worth of coins.

The tied down money wont move, only the speculator kids will move their money.

So its not like the value of an altcoin will just suddenly drop to 0$ as everyone sells back into USD.

you would have to be crazy to be planning on long term holding any alt, ethereum included, unless you've already made out like a bandit. who knows whether any of them will be around in 3-4 years.

the situation is not very good for bitmain atm

i can only dream of the day when we can get a bitcoin without drama so that maybe we can focus on what matters most instead of childish games of different people pulling at bitcoin!
miners to gain more money,
traders to gain more money,
altcoin pumpers to gain more money while spreading FUD about bitcoin,
...

There have being rumors though years about bitcoin dying and those rumors still persists with the only fact that it will increase the value along with its usefulness to people. Japan has not just made it legally now but they would have thought about it and then took their decision so will now other country follows which will make its value rise further.

Bitcoin is dying? They tried to kill bitcoin 129 times. Maybe they will succeed with the 130th time who knows?  
http://www.zerohedge.com/news/2017-06-02/they-tried-kill-bitcoin-129-times-each-time-it-came-back-even-stronger

Bitcoin is losing blood since February not denying it but when we get rid of its cancer, we'll get back to where we were before. Bitcoin's name itself has enough brand value to make it number 1.

After we get segwit, we'll land on the moon once again.

These artificial debates are only creating more buy opportunities.

#UASF

You dont understand , that money is just speculator money, they will move back and forth like idiots.

The good capital is already tied down in altcoins, probably in cold storages. Those are most likely some crazy gamblers gambling away their savings in altcoins in exchanges.

SO there is no reason to not think that that money wont come back. They wont put it in real estate, stocks, or bonds, they will come back into altcoins.

A 30% price swing is nothing, I have seen much bigger swings here, so I dont know why people are worried.

other miners should be less blinded by their controlling desires and realise if they decide to try and impose their will on users they ain't gonna have anything to mine.

yeah we see this clearly every time something happen to bitcoin.
If something happens to Bitcoin will be a bloodpath for everyone and this a reality

Thats true, but it could get messy. Who knows what the little fella will do. He could be talking with the other miners to join him right now.

That is not proof, that is just speculator money.

The altcoins will easily survive because the specs know that they will have to put back their money.

Where will they go stocks, bonds? Bullshit, they will go back into altcoins, and leave bitcoin to die.

I think they are essentially against the idea that the block limit of 1 MB should remain.  Segwit as such they don't care too much about.  I think the question is rather in the other direction: why are segwit supporters (Core essentially) AGAINST block size increase ?  The two main arguments they advance for this:
- only soft forks because hard forks could lead to a chain split
- there should be many full nodes to keep bitcoin decentralized, and bigger blocks will kill full nodes

are bogus.

They are bogus because a well-done HF is much less of a danger to split the chain, than an aggressive, non-consensual soft fork, and UASF is the prime example of this ; and they are bogus because first of all non-mining full nodes have no consensus decision power, but moreover, the trick with the witness data is de facto increasing the amount of data that the full checking nodes would need to vehicle, so while a few years ago, "increasing the data flow" to 2 MB was out of the question because of the poor full nodes, now, 4 MB is not a problem if it are "witness data".

We clearly see that in all of this, there is only one single agenda: pushing people out of legacy transactions because of artificial block chain restrictions.

And all of this has nothing to do with "decentralization" (that is, many non-colluding entities having individual decision power): the decisions in bitcoin are in any case taken by a very small oligarchy of mining pools.  That's the bare reality of the state of decentralization in bitcoin.  

Litecoin was different, because 1) litecoin can be seen as a toy/testing bed so that people wanting to play with segwit can have their coin to play with ; there was no desire in Litecoin to keep small blocks for ever by Lee.  It would have been silly to require larger blocks when the current blocks are only filled at the percentage level.

this pic is for everyone that has the illusion that will survive after an economical disaster of bitcoin after Bitmain ridiculous action

The danger here is centralization. Having only a few people controlling mining is not good at all.