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Topic: Bitmain announces plan to create altcoin if BIP148 succeeds - page 9. (Read 16962 times)

legendary
Activity: 3514
Merit: 1280
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Jihan can say he wants to take a bite out of the moon because its made of green cheese, that don't mean he really wants to do that or that he really believes it. What Jihan really wants is control over Bitcoin so he can make more money. All of his actions have been to this effect.

That is nothing but baseless rumour. Evidence please

What evidence do you actually need?

Everyone and his hungry dog want to make more money. Do you need evidence for that too, especially when you have a lot at stake in something? Jihan has likely invested millions of dollars in ASICs, and now you essentially claim that him wanting to protect his investments and earn more money is a baseless rumor. I understand that Jihan's shills know no limits in arguing virtually anything that goes against their master's agenda but they should certainly care not to sound like complete dumbasses at that

Evidence Jihan wants control over Bitcoin.

I have nothing against people making money. I am against people trying to destroy/limit Bitcoin.

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)
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator

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


wut? 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.

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
newbie
Activity: 38
Merit: 0
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.
legendary
Activity: 1288
Merit: 1087

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


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.
hero member
Activity: 854
Merit: 1009
JAYCE DESIGNS - http://bit.ly/1tmgIwK
The good capital is already tied down in altcoins, probably in cold storages.

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.

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.
legendary
Activity: 1288
Merit: 1087
The good capital is already tied down in altcoins, probably in cold storages.

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.
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
the situation is not very good for bitmain atm

hero member
Activity: 1470
Merit: 655
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,
...
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
hero member
Activity: 1218
Merit: 557
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.
legendary
Activity: 3276
Merit: 2442
they will go back into altcoins, and leave bitcoin to die.


Bitcoin is dying? They tried to kill bitcoin 129 times. Maybe they will succeed with the 130th time who knows?  Cool
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
hero member
Activity: 854
Merit: 1009
JAYCE DESIGNS - http://bit.ly/1tmgIwK
this pic is for everyone that has the illusion that will survive after an economical disaster of bitcoin after Bitmain ridiculous action


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.

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

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.
legendary
Activity: 1288
Merit: 1087
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.

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.
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
this pic is for everyone that has the illusion that will survive after an economical disaster of bitcoin after Bitmain ridiculous action


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.

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
sr. member
Activity: 868
Merit: 259
If the chain splits, it will be bad from an image perspective for BTC. Pride destroyed whats supposed to be a brilliant master piece.

I'm not sure I'd call it much of a chain split myself. It's one tumour going off to do its own thing while everyone else does theirs. I will not be doing business with a chain entirely controlled by one person.

This little fella seems to be condemned to keep attempting the same thing in a different form forever. He should be put out of his misery for his own sake or be left to go off and play with himself on his own.

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.
hero member
Activity: 854
Merit: 1009
JAYCE DESIGNS - http://bit.ly/1tmgIwK
this pic is for everyone that has the illusion that will survive after an economical disaster of bitcoin after Bitmain ridiculous action



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.
hero member
Activity: 770
Merit: 629
i've been also wondering why bitmain is pro segwit with litecoin, but they are against segwit with bitcoin

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.


legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
legendary
Activity: 3430
Merit: 1142
Ιntergalactic Conciliator
this pic is for everyone that has the illusion that will survive after an economical disaster of bitcoin after Bitmain ridiculous action

hero member
Activity: 687
Merit: 500

Evidence Jihan wants control over Bitcoin.

I have nothing against people making money. I am against people trying to destroy/limit Bitcoin.

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