Search This Blog

August 10, 2017

Bitcoin Cash

File: bcc.jpg (230 KB, 1279x727)
230 KB
The Blockstream corporation is the sole entity that wanted Segwit on BTC so they could charge fees for off-chain transactions. They want to keep the block size small so BTC transactions will cost too much in fees, therefore more transactions will happen off-chain and the Blockstream corporation will make more money.

Evil does exists, and it is the Bitcoin "Core". Bitcoin Cash is the real Bitcoin and is closer to the intent of what Bitcoin is supposed to be with larger blocks.
>>
>>3014938 (OP)

Not long after Blockstream came on the scene the issue of bitcoin's scalability once again came to forefront of the community. This issue came within the community a number of times since bitcoins inception. Bitcoin, as dictated in the code, cannot handle any more than around 3 transactions per second at the moment. To put that in perspective Paypal handles around 15 transactions per second on average and VISA handles something like 2000 transactions per second. The discussion in the community has been around how best to allow bitcoin to scale to allow a higher number of transactions in a given amount of time.

A certain group of bitcoin developers decided that increasing the limit by this amount was too much and that it was dangerous. They said that the increased use of resources that the network would use would create centralisation pressures which could destroy the network. The theory was that a miner of the network with more resources could publish many more transactions than a competing small miner could handle and therefore the network would tend towards few large miners rather than many small miners. The group of developers who supported this theory were all developers who worked for the company Blockstream.


To give you an idea of Blockstream; It has hired most of the main and active bitcoin developers and is now synonymous with the "Core" bitcoin development team. They AFAIK no products at all. They have received around $75m in funding. Every single thing they do is supported by /u/theymos. They have started implementing an entirely new economic system for bitcoin against the will of it's users and have blocked any and all attempts to scaling the network in line with the original vision.
>>
>>3014938 (OP)
>>3014949

r/bitcoin, the main sub for the bitcoin community is held and run by a person who goes by the pseudonym u/theymos. Theymos not only controls r/bitcoin, but also bitcoin.org and bitcointalk.com. These are top three communication channels for the bitcoin community, all controlled by just one person. Blockstream corporation started in mid 2015 with millions in investments and hired Theymos and most of the other "core" developers.

A free open source software was released to solve the scaling issue. After this free and open source software was released, Theymos, the person who controls all the main communication channels for the bitcoin community implemented a new moderation policy that disallowed any discussion of this new software. Specifically, if people were to discuss this software, their comments would be deleted and ultimately they would be banned temporarily or permanently. This caused chaos within the community as there was very clear support for this software at the time and it seemed our best hope for finally solving the problem and moving on. Instead a censorship campaign was started. At first it 'all' they were doing was banning and removing discussions but after a while it turned into actively manipulating the discussion. For example, if a thread was created where there was positive sentiment for increasing the transaction capacity or being negative about the moderation policies or negative about the actions of certain bitcoin developers, the mods of r/bitcoin would selectively change the sorting order of threads to 'controversial' so that the most support opinions would be sorted to the bottom of the thread and the most vitriolic would be sorted to the top of the thread.
>>
This was initially very transparent as it was possible to see that the most downvoted comments were at the top and some of the most upvoted were at the bottom. So they then implemented hiding the voting scores next to the users name. This made impossible to work out the sentiment of the community and when combined with selectively setting the sorting order to controversial it was possible control what information users were seeing. Also, due to the very very large number of removed comments and users it was becoming obvious the scale of censorship going on. To hide this they implemented code in their CSS for the sub that completely hid comments that they had removed so that the censorship itself was hidden. Anyone in support of scaling bitcoin were removed from the main communication channels. Theymos even proudly announced that he didn't care if he had to remove 90% of the users. He also later acknowledged that he knew he had the ability to block support of this software using the control he had over the communication channels.

While this was all going on, Blockstream and it's employees started lobbying the community by paying for conferences about scaling bitcoin, but with the very very strange rule that no decisions could be made and no complete solutions could be proposed. These conferences were likely strategically (and successfully) created to stunt support for the scaling software Gavin and Mike had released by forcing the community to take a "lets wait and see what comes from the conferences" kind of approach. Since no final solutions were allowed at these conferences, they only served to hinder and splinter the communities efforts to find a solution. As the software Gavin and Mike released called BitcoinXT gained support it started to be attacked. Users of the software were attack by DDOS.
>>
Employees of Blockstream were recommending attacks against the software, such as faking support for it, to only then drop support at the last moment to put the network in disarray. Blockstream employees were also publicly talking about suing Gavin and Mike from various different angles simply for releasing this open source software that no one was forced to run. In the end Mike Hearn decided to leave due to the way many members of the bitcoin community had treated him. This was due to the massive disinformation campaign against him on r/bitcoin. One of the many tactics that are used against anyone who does not support Blockstream and the bitcoin developers who work for them is that you will be targeted in a smear campaign. This has happened to a number of individuals and companies who showed support for scaling bitcoin. Theymos has threatened companies that he will ban any discussion of them on the communication channels he controls (i.e. all the main ones) for simply running software that he disagrees with (i.e. any software that scales bitcoin).
>>
As time passed, more and more proposals were offered, all against the backdrop of ever increasing censorship in the main bitcoin communication channels. It finally come down the smallest and most conservative solution. This solution was much smaller than even the employees of Blockstream had proposed months earlier. As usual there was enormous attacks from all sides and the most vocal opponents were the employees of Blockstream. These attacks still are ongoing today. As this software started to gain support, Blockstream organised more meetings, especially with the biggest bitcoin miners and made a pact with them. They promised that they would release code that would offer an on-chain scaling solution hardfork within about 4 months, but if the miners wanted this they would have to commit to running their software and only their software. The miners agreed and the ended up not running the most conservative proposal possible. This was in February last year. There is no hardfork proposal in sight from the people who agreed to this pact and bitcoin is still stuck with the exact same transaction limit it has had since the limit was put in place about 6 years ago. Gavin has also been publicly smeared by the developers at Blockstream and a plot was made against him to have him removed from the development team. Gavin has now been, for all intents an purposes, expelled from bitcoin development. This has meant that all control of bitcoin development is in the hands of the developers working at Blockstream.


>tl;dr: The coin with the name "Bitcoin" is currently the bullshit Blockstream corporation's scam to make money back to its investors. You're buying a literal centralized coin to make companies richer and completely going against what Bitcoin was made for. 

If you want to read more, go here (I know, faggot Reddit but whatever): https://www.reddit.com/r/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/
>>
tl;dr
>>
File: dgbthink.png (26 KB, 128x128)
26 KB
So buy bcc?
>>
>>3015286

tl;dr The coin with the name "Bitcoin" is currently the bullshit Blockstream corporation's scam to make money back to its investors. You're buying a literal centralized coin to make companies richer and completely going against what Bitcoin was made for.
>>
Cringe
Why can't you shills shitpost and have fun? This isn't reddit. You won't appear right to us just because you wrote this hideous rant, all the opposite really.
>>
bcash cuck haha
>>
>>3014938 (OP)
This information needs to be seen by everyone in crypto. The disinformation against Jihan, roger, and other guys who actually want the best for bitcoin has been immense. War is being waged between old money (blockstream) and the guys who got rich by backing crypto from the start.
>>
>>3015722

Core supporter shills are so obvious
>>
nobody cares about your reddit autism wars, get it through your skull already
>>
I support non-(((banking))) version aka BCC.

Regardless of who you support im sure both chains will go up in value over time.
>>
>>3014938 (OP)
>>3014949
>>3015000
>>3015011
>>3015045
>>3015081
>>3015685

Face it, man. Core killed bitcoin. China isn't saving it with BCH. Look into alts for the future and use bitcoin as a cautionary tale. Now that the market is beginning to decouple from every move btc makes due to a variety of fiat markets, it's the perfect time.

Also, run far away from any project luke-jr decides to devote his time to.
>>
Calling out OP.

Can you provide solid evidence for your claims? Link to the open-source project, links to which developers worked for blockstream etcetera. Evidence of the reddit corruption.
>>
>>3015735
Can't you understand that no goverment would allow bitcoin to become a decentralized currency threatening fiat? Core knows that and think of the future of bitcoin. The future of bitcoin is not to replace actual currency, it's to create a digital gold.
>>
File: 4b66c6c9456b0dafac631c31c(...).jpg (246 KB, 1080x1080)
246 KB
This post really activated my almonds.
>>
>>3014938 (OP)
>>3015000
>>3014949
>>3015000
>>3015011
>>3015045
>>3015081

Good reading, I'm 100% in BCC. The best thing about this is no matter what happens BCC keeps chugging along doing it's thing.

Obviously I expect it to be attacked but it will continue to grow as it is the genuine Bitcoin, when people realise they can't afford to transact they'll start migrating over to us anyway.
>>
>>3015949
It's not over. It's never over.

I'll go to my grave knowing I backed the right chain.

>>3015970

The sources are in the faggy reddit post

>>3016105
That's not the purpose of bitcoin.

>>3016196
Exactly. It will take time, but with more information spreading I think people will finally realize BCC is the real Bitcoin and the one they should be supporting besides Blockstream Coin (tm)
>>
File: you have to go back.jpg (149 KB, 800x820)
149 KB
>>3014938 (OP)
>>
>>3016493

You core supporters are so obvious. Keep silencing the community you fucking faggot.

The truth cannot be silenced.
>>
OP is a Ver-ified faggot:

http://trilema.com/2015/if-you-go-on-a-bitcoin-fork-irrespective-which-scammer-proposes-it-you-will-lose-your-bitcoins/
>>
>>3014938 (OP)
I already knew all this but thanks for posting it OP. This is why I'm a 100% ETH man now since early this year. Fuck BCC and triple fuck BTC, the only winning move is not choosing either of them. But I do hope china and BCC kills bitcoin.
>>
>>3016593

Nice random google link. You core fags are so stupid, it's amazing Blockstream even had you on payroll
>>
>>3016666
>>3016582
>>3016196
>>3015949
>>3015873
>>3015795
>>3015735
>>3015685

samefag
>>
>>3016693
How is trilema pro-Core you dumb cuck

Big blockers are really at the bottom of the Bitcoin IQ pyramid.

Anyway, replying to a paid shill/troll/Roger itself.
>>
>>3016693

> random google link

you just outed yourself as an actual newfag

not knowing who MP is, is pretty much how you know 99% of this board is newfags.
>>
>>3016705
Not really. Try harder
>>
>>3014938 (OP)
Really trying to pump those BCH bags.
>>
>>3017057
To be fair, the flippening won't happen until after BTC main chain fills back up. If core blocks 2x, then we are looking at $10+ fees by the end of the year. If 2x comes through, maybe $10+ fees by February-March. Either way, BCH will be trading higher than BTC by next summer.

More money to be made elsewhere for now, but once the BTC chain starts clogging up again the most reliable gains in all of crypto will be hodling BCH.
>>
>>3014938 (OP)
I agree with you man. In the first quake there was a limit of an INT number of brushes. Carmak left a comment to make it dynamic, but then it was good enough for Q1 and Q2 as well. Sometimes flipping an int to 8, is the simplest and elegant solution.
>>
Where can I short BCC?
>>
fucking lol at all the people who are going to fall for scam disinfo and sell their BTC

do you donkeys know how many times this has happened? You're literally being led around the nose by scam artists with their finely honed FUD.

Sell your BTC donkey, and regret it, like all the other times.
>>
>>3017182
bitcoin has two value propositions:

(1) cheaper to transfer money than banks / credit cards / etc. (until core takeover is complete)

(2) serves the black market

#2 will be eliminated by something like monero/dash. #1 will be eliminated by core (but not on the BCH chain)

BTC is literally worthless once core gets their way and drives transaction costs through the roof (really, they already are way too high but all the lolnewmoney is more than compensating for now)
>>
>>3017182

This isn't FUD you faggot. This is facts. Try to prove me wrong. You'll realize Blockstream is behind all this.

>>3016719

I'm not paid, no one in the real movement is paid. That's only you. Keep taking that Blockstream money from Digital Currency Group
>>
>It is currently 54% more profitable to mine on the original chain.
Who's the mysterious miner that's keeping difficulty up and what's his end game?
>>
>>3017280
core is burning cash reserves trying to get past segwit lock in before BCH mooning, but their chain will collapse from lack of 2x regardless
>>
>>3017280

It's some whale BTC miner. He is keeping some miners mining BCC to keep the difficulty up in order to keep BCC down.

It just proves BTC core is scared. They are scared of the truth being shown. Blockstream will keep BCC down until the people rise up and use bitcoin as intended
>>
>>3016105
So blockstream is deliberately crippling bitcoin and lining their pockets at the expense of the existing bitcoin infrastructure on our behalf then? Sure
>>
>>3017407
they are trying to become the new visa/mastercard. not doing anyone any favors, just short term greed
>>
>>3017280
Why ya think big banks and old money started getting into bitcoin mining this year?
>>
File: 1502387297176.png (65 KB, 1301x270)
65 KB
>>3014938 (OP)

People aren't going to fall for your obvious fudding.

Core has all the quality people behind it. That fact that Nick Szabo and Andreas Antonopolous support it is enough for me.

BCC is supported by Roger Ver, an obnoxious non-expert, Jihan Wu, a proxy for the Chinese government, and Craig Wright, a lying scammer.

Why are all the quality people behind Core, and all the fucking scum behind BCC.

Really made ME think.

Theymos stopped the fud spamming, too bad he can't stop the spamming of the network also.

BCC will be crushed, the shills will evaporate, adn the naive morons who fell for the orchestrated outrage will crawl back to the main chain with their tails between their legs.

The benefit that Blockstream would get out of LN is far less than the benefit that Jihn is CURRENTLY getting out of ASICBOOST.

For anyone who is falling for this shit please check out this link:

https://medium.com/@HjalmarPeters/the-big-blockers-bead6027deb2

WHY ARE THE QUALITY PEOPLE BEHIND CORE AND THE SCAMMERS AND MORONS BEHIND BCC?
>>
File: 1tkqe2.jpg (26 KB, 350x224)
26 KB
>>
File: rbtcfanatics.jpg (33 KB, 271x357)
33 KB
>>
>>3014938 (OP)
roger how old are you why are you on /biz/
>>
File: 6a00e5547fc2938834014e607(...).jpg (38 KB, 400x280)
38 KB
>>
File: rbtcsss.jpg (74 KB, 615x375)
74 KB
>>
>>3017262
You are worried about blockstream but completely cool with Bitmain (the ones spreading anti-core fud) controlling the entire mining ecosystem? Fuck off
>>
File: tumblr_o0b9t871Nn1ro7rpno1_500.jpg (27 KB, 489x499)
27 KB
>>3015685
but i made a shit ton of money from it, so who gives a fuck
>>
>>3017577
t. mathematically illiterate

BTC issues about $2B in block rewards per year. jihan has about 25% mining power, with about a 20% asicboost on that.

$2B * 0.25 * 0.2 = $100M

visa processes 3000 tx/sec, minimum fee $0.30

lets say bitcoin offers 90% lower fees, or $0.03, and scales to VISA size

$2.8B, 28x what jihan gets from asicboost

the numbers are not even comparable, not even the same order of magnitude.

fuck core. and remember, all core supporters failed 5th grade math (or might as well have)
>>
>>3016593
>believing a self-important gypsy

I'm so disappointed he didn't dump his bitcoin cash, assuming he still has any bitcoins left.

>>3017182
It has happened exactly zero times before.

>>3017577
As you define 'quality' as 'approved by r/bitcoin' your argument is tautological.

Craig Wright is not connected to bitcoin cash.
>>
>>3017636

Blockstream is an evil corporation. Bitman is a Chinese dude. Are you FUCKING serious? There is no comparison.

Blockstreams lies will be exposed. That's the purpose of this thread. Keep trying to FUD, go back on r\bitcoin pls

No comments:

Post a Comment

Public Comments