How Bitcoin was hijacked and centralized - page 3.

FreeStreamer

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Merit: 15

Quote from: arbiter5 on July 18, 2020, 09:50:05 AM

Uhuh. Now what? You're going to shill us BSV or whatever your stupid shitcoin of choice is?

You idiots really need to create new false narratives to at least come close to convincing people because you idiots have been using the same false narratives for YEARS. People like you are like the flat-earthers and the anti-vaxxers of the Bitcoin world.

A shitcoin is something like Bitcoin. that's just a ponzi and has no actual utility.

arbiter5

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The Nomad

Uhuh. Now what? You're going to shill us BSV or whatever your stupid shitcoin of choice is?

You idiots really need to create new false narratives to at least come close to convincing people because you idiots have been using the same false narratives for YEARS. People like you are like the flat-earthers and the anti-vaxxers of the Bitcoin world.

FreeStreamer

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Activity: 70

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Quote from: stompix on July 18, 2020, 09:39:13 AM

Quote from: FreeStreamer on July 18, 2020, 09:26:33 AM

It's too slow and nobody uses it.

Transactions last 24H - 313,697.
How is that possible when nobody is using it? Roll Eyes

Coin speculation is not a real utility and user case.

Quote from: FreeStreamer on July 18, 2020, 09:26:33 AM

Bitcoin has a design flaw that makes it distribute mining rewards unfairly, so the miners started merging into mining unions to agree about sharing the rewards equally.

Wait, so the Miner's Union fixed the imaginary flaw? Grin

It's not an imaginary flaw. Bitcoin still has the increasing blocksize, which deals rewards unevenly.

Quote from: FreeStreamer on July 18, 2020, 09:26:33 AM

The largest merger was named Blockstream which pretty much controls all Bitcoins miners

And your proof for this is.....

Look it up. The truth is out there

mk4

legendary

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Paldo.io 🤖

Man, since when did Blockstream controlled all the miners? They released their mining pool[1] just last year lol. And it looks like almost no one uses the Blockstream pool[2] anyway.

As for the development side, they do have a significant effect. But you might want to check out the GitHub contributors[3] of the past months. Funny how FUDders never mention Chaincode Labs lmao.

[1] https://blockstream.com/2019/08/08/en-mining-launch/
[2] https://coin.dance/blocks/allhashthisweek
[3] https://github.com/bitcoin/bitcoin/graphs/contributors

stompix

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Blackjack.fun

Quote from: FreeStreamer on July 18, 2020, 09:26:33 AM

It's too slow and nobody uses it.

Transactions last 24H - 313,697.
How is that possible when nobody is using it? Roll Eyes

Quote from: FreeStreamer on July 18, 2020, 09:26:33 AM

Bitcoin has a design flaw that makes it distribute mining rewards unfairly, so the miners started merging into mining unions to agree about sharing the rewards equally.

Wait, so the Miner's Union fixed the imaginary flaw? Grin

Quote from: FreeStreamer on July 18, 2020, 09:26:33 AM

The largest merger was named Blockstream which pretty much controls all Bitcoins miners

And your proof for this is.....

FreeStreamer

member

Activity: 70

Merit: 15

This is what happened in 2013-1014. Bitcoin has a design flaw (increasing blocksize) that makes it distribute mining rewards unfairly, so the miners started merging into mining unions to agree about sharing the rewards equally. The largest merger was named Blockstream which pretty much controls all Bitcoins miners and developers. In 2014 Blockstream become a corporation with a CEO. Adam Back. The parent company of Blockstream is AXA group, which is a multi national French insurance corporation. So don't say that Bitcoin is decentralized. This design flaw has caused it that it's no longer consistent with its own whitepaper. The promise of a decentralized P2P digital cash. It's too slow and nobody seems to be using it. Monero however is consistent with the original vision, because these design flaws have been fixed in Monero with a dynamic blocksize and stealth ledger.

Topic: How Bitcoin was hijacked and centralized - page 3. (Read 552 times)