Miners break NY Agreement one month now and already fork Bitcoin

Mandoy

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Aurox

Quote from: chek2fire on August 28, 2017, 07:24:26 AM

As i say miners have already fork bitcoin and breaks NY agreement one month now. They have create their own coin their own chain with big blocks and the most important is that they dont keep the promise between them that will only only fork bitcoin after segwit activation and after 3 months.
For that reason no one need to follow it this empty crap agreement anymore.

With the things happening the miners cannot wait for three months and being left behind while other miners are earning. The miners observe that they are at loss if they will follow the NY agreement especially that BCH was released on the market and it was rocking the exchanges rapidly. This is is my only opinion but this is what I thought for now.

gentlemand

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Welt Am Draht

Quote from: Basmic on August 28, 2017, 07:38:16 AM

For me it's just proof that bitcoin has long ceased to be decentralized. It will always be when there is a monopoly. Users of bitcoin should have the opportunity without the help of miners to conduct transactions as it was in the beginning. Bitcoin will always be volatile while this system will not be back. No one should have a significant impact on the life of the system.

There've always been miners. The difference between now and the early days is that back then miners were also users. That's not really the case any more and never will be again.

It's a sorry, but inevitable, state of affairs. If there ever is to be a 'Bitcoin killer' addressing centralisation will have to be the number one priority.

BitcoinHodler

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HODLing is an art, not just a word...

Quote from: chek2fire on August 28, 2017, 07:31:15 AM

ok if is more profit then this mining cartel must keep maintenance this chain and focus to it.

actually they make more profit if they don't support it! or more precisely, if they do a half ass support

first they don't support it so the difficulty drops
then they start mining it at lower difficulty and mine about 2000 blocks in 2 days
then as soon as difficulty went up they stop supporting it.

rinse and repeat?

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As i say only free market can decide if Bcash has a real usage and value.

yeah, in long term it will but in short term it is very easy to manipulate it.

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In the other hand this NY agreement is a crap of paper now. Everyone has break it and everyone that agree to not fork bitcoin they support a fork of bitcoin and much worse now they transfer their hashpower and mine to this chain.

that is the greed plus the fact that there is no precautions of breaking some agreement that has been being bashed ever since it was reached!

Shateriere

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miners gonna just jump from one coin to another for profit.

Basmic

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For me it's just proof that bitcoin has long ceased to be decentralized. It will always be when there is a monopoly. Users of bitcoin should have the opportunity without the help of miners to conduct transactions as it was in the beginning. Bitcoin will always be volatile while this system will not be back. No one should have a significant impact on the life of the system.

chek2fire

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Ιntergalactic Conciliator

Quote from: Netnox on August 28, 2017, 07:33:12 AM

There is no point in waiting another 3 months, in order to implement the increased block size limit. Other altcoins such as Bitcoin Cash are taking advantage of this situation and benefiting out of the chaos. Check the exchange rates of BCH. It has increased by almost 150% during the last 2 weeks.

the only usage that bcash has now is to clean "dirty" bitcoins and mix them and get back a new bitcoins

Netnox

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There is no point in waiting another 3 months, in order to implement the increased block size limit. Other altcoins such as Bitcoin Cash are taking advantage of this situation and benefiting out of the chaos. Check the exchange rates of BCH. It has increased by almost 150% during the last 2 weeks.

chek2fire

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Ιntergalactic Conciliator

Quote from: BitcoinHodler on August 28, 2017, 07:28:01 AM

it has always been about more profit. an alternative chain that has a much lower difficulty and can be reduced to a low difficulty on demand is the dream of miners. add to it the pumpability of BCH, and that is dream come true.

the 2 MB hard fork is also about more profit. a bigger block with more high fee transactions in it a lot more profit than the current one.

ok if is more profit then this mining cartel must keep maintenance this chain and focus to it. Is very easy for them in the future to add and segwit if Jihan thinks is necessary. As i say only free market can decide if Bcash has a real usage and value.
In the other hand this NY agreement is a crap of paper now. Everyone has break it and everyone that agree to not fork bitcoin they support a fork of bitcoin and much worse now they transfer their hashpower and mine to this chain.

BitcoinHodler

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Activity: 1456

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HODLing is an art, not just a word...

it has always been about more profit. an alternative chain that has a much lower difficulty and can be reduced to a low difficulty on demand is the dream of miners. add to it the pumpability of BCH, and that is dream come true.

the 2 MB hard fork is also about more profit. a bigger block with more high fee transactions in it a lot more profit than the current one.

chek2fire

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Ιntergalactic Conciliator

As i say miners have already fork bitcoin and breaks NY agreement one month now. They have create their own coin their own chain with big blocks and the most important is that they dont keep the promise between them that will only only fork bitcoin after segwit activation and after 3 months.
For that reason no one need to follow it this empty crap agreement anymore.

Topic: Miners break NY Agreement one month now and already fork Bitcoin (Read 219 times)