CSW's "hash wars" impact on BTC price? - page 4.

Febo

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Quote from: TomCrypto on November 22, 2018, 02:32:46 AM

A small update on the losses for both team during this hash wars :

I don't understand why they keep wasting money and energy....

Because they can. Why you think some people pay that bunch of guys drive cars in a circle and smash them? People should do with they money as it pleases them. No one should dictate them.

1Referee

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Quote from: cellard on November 22, 2018, 11:52:09 AM

For me this is very clear: It's just an ego fight. They want to win, they don't want to end up as the guy that got defeated. And they want to own the BCH ticker on all exchanges, so it's a long term investment for them. They think that they will get their money back if their project (which they are vested in since they hold a lot of these respective tokens) ends up the one that survives and gets to keep the BCH ticker and network effect.

Of course long term the will just lose money as they will not be able to defeat BTC.

It's definitely an ego fight, but for the ABC camp there is so much at stake, that they can't do anything other than continue to waste money protecting their own chain. Let's be honest, the only reason BCH has value is because it's backed by Bitmain and Roger. In this case I would say 25% ego and 75% protection of economical incentives.

It all comes down to when the nChain and CoinGeek losers finally start to give up this nonsense battle. BCHSV isn't worth anything. It doesn't have any sort of network effect, economical adoption potential, has a horrible reputation, etc. In this case I would say it's 100% ego. CSW is the typical guy thinking like; If I go down, I'll take you down with me.

Jihan once accused CSW to be a blockstream spy, but it starts to look like he's a central bank spy more than anything. Where the heck did this asshole come from lol.

coinplus

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Quote from: Herbert2020 on November 22, 2018, 02:25:57 AM

Quote from: Wind_FURY on November 19, 2018, 12:03:08 AM

...
It showed that users mattered in Bitcoin during the proposed 2X hard fork by signers of NYA which had the biggest mechants and, I believe, by the people who controlled more than 50% of the hashing power. Bitcoin Cash does not have that philosophy.

the biggest thing that the 2x shenanigans proved was that everyone who is involved in bitcoin (users, nodes, miners, businesses,...) care too much about bitcoin and they don't want to destroy it by splitting it into two because of some nonsense argument, and ruin it forever.

in comparison you can see nobody cares about BCash so they easily split it into two and ruin it even more that it already is.

What I even loved more about the whole thing is the fact that the punk himself, which in this case referring to Roger, had a taste of his own medicine and that is something I was actually hoping will end up happening right from time and getting him even more screwed.

Sometimes, I keep asking how long he is going to keep fooling around before realizing he does not even have a chance. Like you said, BCH became practically dead to me right from the onset, and no matter how hard Roger tried to pump it to make it gain relevance, that only put it more in the shitcoin category. Even as it is now, it is pretty much overvalued. It should be less than 0.00000001 usd.

dogtana

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The best thing would be that both BCH coins crash and go bankrupt.

cellard

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Quote from: TomCrypto on November 22, 2018, 02:32:46 AM

A small update on the losses for both team during this hash wars :

I don't understand why they keep wasting money and energy....

For me this is very clear: It's just an ego fight. They want to win, they don't want to end up as the guy that got defeated. And they want to own the BCH ticker on all exchanges, so it's a long term investment for them. They think that they will get their money back if their project (which they are vested in since they hold a lot of these respective tokens) ends up the one that survives and gets to keep the BCH ticker and network effect.

Of course long term the will just lose money as they will not be able to defeat BTC.

Wind_FURY

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Quote from: Herbert2020 on November 22, 2018, 02:25:57 AM

Quote from: Wind_FURY on November 19, 2018, 12:03:08 AM

...
It showed that users mattered in Bitcoin during the proposed 2X hard fork by signers of NYA which had the biggest mechants and, I believe, by the people who controlled more than 50% of the hashing power. Bitcoin Cash does not have that philosophy.

the biggest thing that the 2x shenanigans proved was that everyone who is involved in bitcoin (users, nodes, miners, businesses,...) care too much about bitcoin and they don't want to destroy it by splitting it into two because of some nonsense argument, and ruin it forever.

in comparison you can see nobody cares about BCash so they easily split it into two and ruin it even more that it already is.

Because they do not have the "users matter" ethos. For them, running a non-mining node is useless for the network because it's the miners that "rule" the network.

I believe there are some Bitcoin Cash ABC people debating "but we have more nodes than SV" in Reddit. Cool

TomCrypto

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A small update on the losses for both team during this hash wars :

I don't understand why they keep wasting money and energy....

Herbert2020

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Quote from: Wind_FURY on November 19, 2018, 12:03:08 AM

...
It showed that users mattered in Bitcoin during the proposed 2X hard fork by signers of NYA which had the biggest mechants and, I believe, by the people who controlled more than 50% of the hashing power. Bitcoin Cash does not have that philosophy.

the biggest thing that the 2x shenanigans proved was that everyone who is involved in bitcoin (users, nodes, miners, businesses,...) care too much about bitcoin and they don't want to destroy it by splitting it into two because of some nonsense argument, and ruin it forever.

in comparison you can see nobody cares about BCash so they easily split it into two and ruin it even more that it already is.

Scompe_BTC

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Quote from: tokeweed on November 17, 2018, 04:44:49 AM

How is this even a hash war when both BAB and BSV will end up continuing on anyway? I mean we've seen it all. This is no different to the forks of the past...

And how can we even assure Ver and Wright aren't manipulating everything behind the scenes?

Well I think rather war between some parties for bitcoin and price etc., we must think about the solution. How to promote bitcoin in market and how to grab more investors here, this must be our mission.

STT

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If mining is already there with costs of 6 million a day collectively then 15m being flushed by Craig and his backers is not a considerable amount but with news and I believe this holiday season has some effect in consensus selling, it caused doubts to then slip past support it seems. Attempting to brute force the market into doing anything will be like pushing on string so is unlikely to work out as intended long term.

Quote

I think we’re just seeing the end of the bubble coming back to reality.

I think crypto reacts badly to leverage and we've had a little too much of that, unwinding those expectations of immediate returns and then getting sellers at any cost because they must repay the money that isnt theres is unfortunately not going to look pretty on any chart

Quote

Craig recently said he moved $100 million worth of paper Gold internationally for under 25GBP in fees to point out that Gold transfers aren't expensive

If he intended to show off then just show the entire slip. The fees could be zero and it could still be costly if they are charging on the spread or storage fees or lending out his gold perhaps. Also that value is held centrally perhaps even as a fractional reserve, is it ETF or ETN debt note. Maybe he will be switching to XRP then

FrozenChaos

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With ABC's checkpointing, what's the point anymore? They are now two independent chains. If there was shadow mining going on it, the point is moot.

leopard2

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Quote from: OgNasty on November 20, 2018, 04:11:36 AM

While the hash war is probably responsible for around $15 million in sold Bitcoin over the last week, that shouldn’t be enough to effect the market so dramatically. I think we’re just seeing the end of the bubble coming back to reality. This needed to happen and once the remaining speculators are flushed out of the market, we can begin the ride back up to new highs.

Under normal conditions I would agree with you, but with all the negative sentiment out there, plus paper thin orderbooks, and prices close to support levels, it is very well possible.

You don't know how much BTC Craig and Calvin sold. A couple of thousands on different exchanges or OTC desks, using different names or child companies? Then stop loss selling kicks in? I have no doubt that is possible.

guoyu78

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At what point do you guys think the miners side of bitcoin.com the team that involves jihan wu and roger ver would say "this is enough we are not making any profit" and stop selling and let the other guy try to win them over hash by spending money.

The miners have advantage that they are capable of using their own hash powers to mine the coins in order to lead the war however Craig has money that he uses to get hash powers as well.

So on one side we see miners who already have hash but on the other side we see a man who is BUYING hash, either Craig will start to not spend as much money as he is right now or the miners will have to stop mining coins that is not making them any money (even losing them money). This is not a war between craig vs bitcoin.com, this is a war between capital money vs investment, which one will go out first.

figmentofmyass

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Quote from: OgNasty on November 20, 2018, 04:11:36 AM

While the hash war is probably responsible for around $15 million in sold Bitcoin over the last week, that shouldn’t be enough to effect the market so dramatically. I think we’re just seeing the end of the bubble coming back to reality. This needed to happen and once the remaining speculators are flushed out of the market, we can begin the ride back up to new highs.

that's my take as well. the bcash drama and associated supply may have catalyzed the selloff, but it just triggered a move that was waiting to happen. i was in denial about it for a while, but BTC needs a good old fashioned capitulation to flush out the weak hands. just like old times.

$3000 looks juicy---i believe masterluc is eyeing that area too.

arinalwa

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Quote from: cellard on November 13, 2018, 11:25:14 PM

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

Who really cares about the effect that is going to be having on bitcoin price, because one thing I believe is that most people really do not even get to find bitcoincash to be a thing in the first place, except some flimsy excuse for a forked coin and like Wind_Fury said, bitcoincash is basically just a parody of itself and now miners have decided. One thing I see is that one way or the other, the breeze is gradually blowing the fowl's buttocks to the public no matter how it tries to get it covered. Shit coin that is just trying to manage to live on the glory of a bitcoin fork is all I see bitcoin cash as.

OgNasty

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While the hash war is probably responsible for around $15 million in sold Bitcoin over the last week, that shouldn’t be enough to effect the market so dramatically. I think we’re just seeing the end of the bubble coming back to reality. This needed to happen and once the remaining speculators are flushed out of the market, we can begin the ride back up to new highs.

Pursuer

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Where is my ring of blades...

Quote from: 1Referee on November 19, 2018, 01:46:33 PM

Quote from: cellard on November 19, 2018, 01:19:28 PM

And as far as Craig Wright being a billionaire, I really doubt it, he is the conman to play the role of the leader and Calvin Ayre is the the actual billionaire... if we are to believe that as well. A lot of trolls these days call themselves billionaire, like that Richard Heart guy, but they've got a couple million at best.

Craig recently said he moved $100 million worth of paper Gold internationally for under 25GBP in fees to point out that Gold transfers aren't expensive, which is crazy if you think about it. How delusional is this dude? Wealthy individuals are out to NOT make it seem like they are filthy rich, while those with a big mouth who don't have much are busy making themselves look like a billionaire. Tells you enough.

You know what rappers and social media stars do? Start up so called fake beefs to boost their popularity, which if you think about it, might be the case here as well. Roll Eyes

it seems like he is trying so hard to convince the world that he has enough money/power to crash the bitcoin price while pump the shitcoin he created (BSV) and the worst part of all of this is that the market is (for some weird reason) answering positively to his attempts of crashing bitcoin price!!!

Wind_FURY

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Quote from: 1Referee on November 19, 2018, 01:46:33 PM

Quote from: cellard on November 19, 2018, 01:19:28 PM

And as far as Craig Wright being a billionaire, I really doubt it, he is the conman to play the role of the leader and Calvin Ayre is the the actual billionaire... if we are to believe that as well. A lot of trolls these days call themselves billionaire, like that Richard Heart guy, but they've got a couple million at best.

Craig recently said he moved $100 million worth of paper Gold internationally for under 25GBP in fees to point out that Gold transfers aren't expensive, which is crazy if you think about it. How delusional is this dude? Wealthy individuals are out to NOT make it seem like they are filthy rich, while those with a big mouth who don't have much are busy making themselves look like a billionaire. Tells you enough.

You know what rappers and social media stars do? Start up so called fake beefs to boost their popularity, which if you think about it, might be the case here as well. Roll Eyes

Did he? Then he does not "get" Bitcoin. Private key ownership has proven to be one of the most inviolable property rights in history. Bitcoin is not just "a method" for sending and receiving value over the wire.

leopard2

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Quote from: 1Referee on November 19, 2018, 01:46:33 PM

Quote from: cellard on November 19, 2018, 01:19:28 PM

And as far as Craig Wright being a billionaire, I really doubt it, he is the conman to play the role of the leader and Calvin Ayre is the the actual billionaire... if we are to believe that as well. A lot of trolls these days call themselves billionaire, like that Richard Heart guy, but they've got a couple million at best.

Craig recently said he moved $100 million worth of paper Gold internationally for under 25GBP in fees to point out that Gold transfers aren't expensive,

He did? Why is he in crypto then? Why did he (LOLOLOL!!!!) invent Bitcoin? Why does he care so much about BCH if transacting outside of crypto is sooo super perfect? Just stick with your paper gold or VISA cards Mr. Craig Angry

That's certainly bullshit, too, you can hardly do an international wire for 25GBP

Just ask Iran, when Germany refused to let them withdraw $300mm Euros. Or ask Venezuela when they tried to get their gold from the UK recently. That is the power of blockchain, not transferring some virtual gold tokens inside a closed loop system.

1Referee

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Quote from: cellard on November 19, 2018, 01:19:28 PM

And as far as Craig Wright being a billionaire, I really doubt it, he is the conman to play the role of the leader and Calvin Ayre is the the actual billionaire... if we are to believe that as well. A lot of trolls these days call themselves billionaire, like that Richard Heart guy, but they've got a couple million at best.

Craig recently said he moved $100 million worth of paper Gold internationally for under 25GBP in fees to point out that Gold transfers aren't expensive, which is crazy if you think about it. How delusional is this dude? Wealthy individuals are out to NOT make it seem like they are filthy rich, while those with a big mouth who don't have much are busy making themselves look like a billionaire. Tells you enough.

You know what rappers and social media stars do? Start up so called fake beefs to boost their popularity, which if you think about it, might be the case here as well. Roll Eyes

Topic: CSW's "hash wars" impact on BTC price? - page 4. (Read 1897 times)