Topic: What does everyone think on Iamnotbacks view on Jihan and current UASF situation (Read 1916 times)

Re: Well, well, well, now we know what Jihan Wu’s been up to.

I finally figured out the most likely reason Jihan is blocking SegWit both on Bitcoin and Litecoin.

Bitmain as the manufacturer of 70% of the mining ASICs, see the issuance of tokens as their exclusive domain. In other words, they very powerful shadow elite who are backing Bitmain want all the tokens issued for themselves. Yes I suspect MP is an owner/investor of Bitmain.

So therefor they need to control that the price doesn't rise faster than the supply of hashrate so that marginal miners (those not in their cabal of mining farms with subsidized electricity) are never significantly profitable. In this way, all the economic value from mining ends up in Bitmain's pocket with which they can purchase the tokens for their shadow elite investors/owners.

But SegWit would enable Core to make upgrades in the future to Bitcoin's ecosystem without needing hashrate activation. Thus Core could in the future push the price up and down, removing that control from Bitman.

This is probably why miners are pushing extension blocks instead as a scaling solution.

Miners will support a change to Litecoin's protocol which allows LN to be added for Litecoin, but Jihan will probably block the features of SegWit which allow softforking version changes. Also I don't think LN (off chain scaling) will ever be allowed for Bitcoin because I explained else where that it causes instability of the block chain and no need to risk for the $billionaire's settlement blockchain which is what Bitcoin is to become.

On Litecoin, Jihan enabled the hype to push the price up so he could presell the April 15 and May 15 batches of L3+ miners at what seemed like a bargain at current LTC price and hashrate, but he probably knows he is going to block SegWit activation and crash the price as well raising the hashrate with those new L3+ miners shipping.

Forgetting how this works guys ?
The majority buys coins AFTER a whale pumps them.

..that's it.

Ideology has nothing to do with it.

---

EDIT:

@NeuroticFish
Color me intrigued.. Why do we not want to be him ?

I sold all my LTC and don't plan on re-entering because I think it is a manipulated clusterfuck.

FYI, I took profits on this surge and wait to buy back again later, because I think actually attain activation is going to take at least 2 weeks and probably longer.

In the meantime, I have bought ETH. It is in a descending wedge pattern that is going to close within 24 hours. It looks like it has to break to the upside. Perhaps Ethereum will make some announcement on the Raiden (LN clone) upgrade coming. Looks like they will beat Litecoin to having a rudimentary beta of off chain scaling.

He is clearly talking out of his ass most of the time. If you read all his theories take them lightly and do not make investment decisions because of them. He also keeps pushing for litecoin to reach 50 and that makes me think he is holding LTC right now. Right there alone could make his opinions biased. Maybe he thinks his posts can move the market.

He may also be overthinking everything.

https://bitcointalksearch.org/topic/m.18534663

You think Jihan is gonna end up supporting while the UASF gets closer to being a reality? Especially on LTC?
Wouldnt he want to keep the power by doing this?

If you indeed have 70% or 60%, then you don't need a USAF, just lower the threshold.

The LTC UASF situation is much different than Bitcoin's. For now, in BTC, there is a stale mate between miners so any attempt, be it UASF, BU HF or whatever is doomed to fail until there is a clear winner.

Litecoin on the other hand already has ~70% of the miners behind SegWit (and others that want it are not signalling yet, like ProHashing), want development built on top of it, the community wants SegWit and economic nodes want SegWit. One person blocking this cannot stand, and he won't be able to do anything about it.

how are the investment is ASCIs related to this?  
Are you making things up again      


(ASCIs, Except if you have proof of course, Is only an incentive to REMAIN and STICK to the chain where your ASCIs Belong, what  2+2 is equal to, big boy?)

Last year, Kevin Pan recommended me a book called The Cathedral and the Bazaar. I got it. We will put lots of money.

I regretted one thing. In China, open source culture is not popular. I did not understand it. We put too less or 0 money into community.

But while he can block us from activating SegWit, he can't HF by himself to do something naughty, because the other miners will turn against him and he apparently doesn't control 51% by himself. He forced alliances on this SegWit issue, but I don't think he could for naught activities.

Btw, I agree that having one manufacturer that makes such a large percentage of the ASICs is not good. But that is PoW. I actually am trying to develop a replacement for PoW.

If you don't want PoW, then go to PoS coin instead. ETH was able to take control because Vitalik is going to fork to a POShit eventually anyway, so there is no investment in ASICs.


You try and you will lose your money. I warned you. The big money will not tolerate a non-hashrate driven MOB. If they could tolerate it, they would already have invested in PoShit tokens.

You say you want PoW then you say your don't want PoW. Make up your mind.

I'm curious how do you view UASF or any Democratic type solutions as dangerous (which I agree), yet you have been bullish with regards to ETH vs ETC?

Clearly, atm at least, the market is valuing ETH and for some valid reasons (development or whatever), but the market has not valued immutability (yet).

Edit: Perhaps it's different, because ETH/ETC are not really store of value tokens?

... Everybody who values the value of blockchains will sell the UASF fork, because democracy totally devalues blockchains and makes them worthless. I think Jihan wants to make money while also making an ideological point. It is survival-of-the-fittest and he wants to impoverish all those who don't understand that immutability is what makes blockchains valuable and democracy is what makes everything bankrupt, untrustable, and valueless...

What are you proposing the smart money go to?  Litecoin and the uncertainty of getting Segwit via miners or UASF?