Topic: Why is Bitcoin Unlimited = China coin? - page 2. (Read 1579 times)

the agreement was broke in hours due to luke jr himself backing out of what he signed by pretending he is powerless

lauda you really need to stop defending blockstream(core) and start thinking about bitcoin as a whole.

Another lie being spread out there. "Core" was never part of any agreement, neither can it be as it isn't a standalone entity. The people who were part of it were representing themselves. Anyhow, F2Pool was the first one to break it by mining a Bitcoin Classic block.

Why Bitcoin Core broke the Hong Kong agreement?

It's not that most of the miners are in China, it's that many of the mining monopolies are in China.  It's only a few people controlling a huge amount of the hashrate.  The (quite reasonable) suggestion is that these mining monopolies, mostly based in China, support BU.  So what people mean by China coin, if they say it (which I haven't seen anyone say actually) is that it's a coin supported by people who favour centralisation, and that could never be good for Bitcoin.

The majority of Bitcoin hashrate is located in China. The people trying to cause a division in the community used this to their advantage. They are resorting to all kinds of tactics, e.g.:
1) Fear mongering the miners that Segwit = losing fees.
2) Exaggerating the imperfections of Segwit whilst glorifying their own solution.
3) Lobbying them.

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It is very clear that a super majority of the economy and users do not want BU.

Best I can tell, the pressure has increased for bitcoin to move forward with scaling, because blocks were full for a few weeks recently and fees went up fairly dramatically.

Scaling bitcoin for more people to use it means some kind of "bloating" needs to happen.

The BU people want to bloat the blockchain with bigger blocks, more data, more bandwith, which means fewer people can afford to be nodes, thus centralizing bitcoin, while still not getting that much scaling.

The Segwit supporters want to scale bitcoin by huge amounts, first by incorporating Segwit and then the Lightning Network. But the price to do it is by writing massive amounts of code, extremely complex, which very few people can follow and understand. So even though it is open source software, there is still a certain amount of "intellectual centralization", according to the BU supporters.

Chinese miners (and other miners, Chinese are the majority at this point in time), who may or may not have long term investment in bitcoins future, are the first in line to make the decision which scaling path is to be taken, at least this is the BU claim of taking the Bitcoin White Paper literally word for word. It is not as easy a decision for them (the miners) as it is for the bitcoin economy, as they are first and foremost looking out for their own financial well being and influence over the system.

Since there is nowhere near any unanimity on the issue, and since the miners are the only group really supporting BU in any significant way, the Segwit camp, rightly or wrongly, have christened BU as China coin.

Best as I understand things at the moment.

Can't it be any other altcoin unrelated to China?
Now just because most of the miners are in China doesn't mean Bitcoin Unlimited is China coin, no?