Bitcoin has its roots strongly held and believed on decentralization, disrupting the network, a coup, is just the beginning of a centralized bitcoin network, and then they blame the LN/side solutions that are an optional choice. A decentralized network has to give the users a choice.
Most of the bitcoin users don't give a shit about what's happening to the network, they are capable enough to grasp the implications, but money clouds their vision, short term profit, long term a dead coin.
Minority is enough to start with a change, underdogs. Segwit activated, good, HF, Jihan is gonna realize he is dreaming a dreamer's dream.
Topic: [Poll] Will you use Jihancoin? - page 3. (Read 1766 times)
JihainCoin, or any other altcoin derived from an hypothetical Bitcoin hardfork, are dead on arrival. Nobody with money worth mentioning is going to hold their wealth on the non-original blockchain. The only way a hardfork would work is if there was 100% consensus and clearly there isn't. From a technical perspective the segwit2x is the dumbest thing since the rest of takeover attempts (xt, classic, buggy unlimited and now this)
In OP's hypothetical situation, this new chain wins and is the longest. Now the question is, would you risk it all on a losing chain? Would like to see your coins on the older chain being unaccepted by merchants?
It's like asking if you'd keep being on the fork that perceived as "wrong" in both of these cases.
Anyways, this is counter productive talk. Speaking in worst case scenarios is what we don't need at the moment. But it is indeed for for thought...
JihainCoin, or any other altcoin derived from an hypothetical Bitcoin hardfork, are dead on arrival. Nobody with money worth mentioning is going to hold their wealth on the non-original blockchain. The only way a hardfork would work is if there was 100% consensus and clearly there isn't. From a technical perspective the segwit2x is the dumbest thing since the rest of takeover attempts (xt, classic, buggy unlimited and now this)
But this is certainly not all
While I completely agree that Jihancoin wouldn't be able to get much attention on its own, but he could still force people into using his coin by making the genuine Bitcoin completely unusable. That's what I referred to in my post by mentioning an army of ruthless and merciless Jihad miners (now patiently waiting for their hour). Basically, he could pose an ultimatum (via his actions) making an offer which most people won't be able to decline. Since otherwise they will lose their "genuine" bitcoins (i.e. their value would hit the floor). If he earned enough already (which seems to be the case), it may be no more than a game of thrones to him
For now I hope that it won't happen and I hope your assumptions is wrong.
I also hope for that but we should consider all the likely outcomes of the present showdown
"Most people" are irrelevant. The only people with real skin in the game are the original cryptopunk whales whose are holding millions worth of BTC, not USD, no other fiat, and no altcoin, but BTC. All these companies are irrelevant because they aren't even holding BTC, they always convert to USD.
The big cryptopunk whales will crush Jihan Wu's delusions of grandeur soon.
I will surely not using Jihancoin for sure. For me it's Bitcoin and some etablished crypto and nothing else
JihainCoin, or any other altcoin derived from an hypothetical Bitcoin hardfork, are dead on arrival. Nobody with money worth mentioning is going to hold their wealth on the non-original blockchain. The only way a hardfork would work is if there was 100% consensus and clearly there isn't. From a technical perspective the segwit2x is the dumbest thing since the rest of takeover attempts (xt, classic, buggy unlimited and now this)
But this is certainly not all
While I completely agree that Jihancoin wouldn't be able to get much attention on its own, but he could still force people into using his coin by making the genuine Bitcoin completely unusable. That's what I referred to in my post by mentioning an army of ruthless and merciless Jihad miners (now patiently waiting for their hour). Basically, he could pose an ultimatum (via his actions) making an offer which most people won't be able to decline. Since otherwise they will lose their "genuine" bitcoins (i.e. their value would hit the floor). If he earned enough already (which seems to be the case), it may be no more than a game of thrones to him
For now I hope that it won't happen and I hope your assumptions is wrong.
I also hope for that but we should consider all the likely outcomes of the present showdown
Let's assume for a moment that a chain split happens for real
[snip]
So, will you follow the scent of money?
[snip]
So, will you follow the scent of money?
Sure. I will sell coins from both chains if possible. I guess that everybody will do that if there will be exchanges giving the chance for this.
But I don't expect an ETH/ETC scenario. People will rally under the flag of one coin: the one that will be accepted by most exchanges. We talk here about way bigger amounts than ETH/ETC was.
If there is split at Aug 1, I wont be using Luke-jr coin though.
No, or there goes our chance to fix money.
Let's assume for a moment that a chain split happens for real in the next few weeks (after all, this is what Jihan promised us himself), and the fork which he creates quickly wins. Bitmain seems to be controlling around 70% of all miners produced and shipped worldwide, therefore if Jihan has been saving up hashing power all these months, he could easily take down all competing blockchains by marching his army of ruthless miners that he was secretly gathering all this time over the competition
So, will you follow the scent of money?
If that happens I would continue to use the same old genuine bitcoin chain that I used to use and not Jihancoin. Better yet I might try to move into other altcoins if worst case scenario of bitcoin being devalued a lot near to zero happens because of Jihancoin. For now I hope that it won't happen and I hope your assumptions is wrong. So, will you follow the scent of money?
JihainCoin, or any other altcoin derived from an hypothetical Bitcoin hardfork, are dead on arrival. Nobody with money worth mentioning is going to hold their wealth on the non-original blockchain. The only way a hardfork would work is if there was 100% consensus and clearly there isn't. From a technical perspective the segwit2x is the dumbest thing since the rest of takeover attempts (xt, classic, buggy unlimited and now this)
i don't understand what "Jihancoin" is! and your post didn't help me either.
in case by "Jihancoin" your mean what bitmain pointed out in their blog post, saying they will solo mine privately for some time (3 days if i recall correctly) and they release the chain, then it is stupid. it is not even worth talking about. that is not even a coin let alone call it bitcoin.
but in case you are talking about anything other than that blog post my answer may be different.
in case by "Jihancoin" your mean what bitmain pointed out in their blog post, saying they will solo mine privately for some time (3 days if i recall correctly) and they release the chain, then it is stupid. it is not even worth talking about. that is not even a coin let alone call it bitcoin.
but in case you are talking about anything other than that blog post my answer may be different.
But of course!! I will quickly use Jihancoin to make a transaction to an exchange where they buy my coins for fiat money.
Wait, that counts as "using", doesn't it?
Wait, that counts as "using", doesn't it?
Yes, I will. When money talks, bullshit walks! 
and the fork which Jihan creates quickly wins
If the scenario you describe happens, the longest chain will be the one you refer to as "Jihan fork"
Let's assume for a moment that a chain split happens for real in the next few weeks (after all, this is what Jihan promised us himself), and the fork which he creates quickly wins. Bitmain seems to be controlling around 70% of all miners produced and shipped worldwide, therefore if Jihan has been saving up hashing power all these months, he could easily take down all competing blockchains by marching his army of ruthless miners over the competition, an army that he was secretly gathering all this time
So, will you follow the scent of money?
So, will you follow the scent of money?
Jump to: