Bitcoin Forum

According to Vinny, if BTU activates exchanges will list it as BTU and the ensuing chaos will cause the value of BTC to crash hard.

Source https://vinnylingham.com/a-fork-in-the-road-70288fd3c046#.axoifstr6

Vinny Lingham used to make accurate prediction when it comes to digital currency. This time I believe the prediction will be outlawed, because BTU has got crashed and if it gets popularity too bitcoin overcomes with the pricing it has got.

The BU guys seem oblivious to these hazards, since they only focus on the properties of their half of the chain.

Two competing chains vying for the title of the One True Bitcoin would be horrendous. And I was sitting here thinking the coin denomination (https://bitcointalk.org/index.php?topic=1825393.msg18186539#msg18186539) was bad.

BTU supporters are fanatic lunatics and they don't care if Bitcoin dies just that Core don't win.

Which is stupid because, at the rate altcoins like ETH are gaining marketshare...

Bitcoin is going to crash hard anyway without a scaling solution.

Stupid

I have been hearing the Roger Vermins and Mike Hernias of the land claiming "armageddon is near" for years now, yet bitcoin prices continue to go higher.

The scaling solutions is here: segwit.

What is stupid is going the BU route effectively crashing bitcoin, but that is what the government funded BU shills want anyway.


https://medium.com/@Coinosphere/why-bitcoin-unlimited-should-be-correctly-classified-as-an-attempted-robbery-of-bitcoin-not-a-9355d075763c#.r5f6ui934

Idiot

It doesn't matter how many times we tell them how BU is a bad idea. Even after the massive bug exploit that was an huge fail that made most of the network inactive yesterday, the brainwashed zealots still push for BU.

Looks like until shit hits the fan and the price is ruined they will not stop and realize their mistake.

Price will be ruined due to Core dragging their feet over a block size increase and generally fucking around prioritising technical perfection over actual usefulness and being totally unwilling to compromise. This is why alts are rapidly gaining on BTC.

If a fork causes Bitcoin to crash hard, then frankly, it deserves to, since this can happen at any point in the future.

Two coins would be the best solution at this time. All current hodlers have coins on both chains. One chain can scale on chain, be actually used as a payment system, the other chain can play at being digital gold and pray that lightning network is somehow better than on chain payments.

At least with a fork current hodlers will own both the gold and the payment network. No fork means an altcoin will eat Bitcoin's payment network market share.

A fork should make everybody happy. Except Vinny, who needs to cry some more.

Well, if it's listed as an alt from the start that nullifies rather a lot of potential chaos. There'll be all sorts of silliness but no disaster. He has good points about Mr Ver and his brand awareness slipperiness though.

Overall I think it would probably put an end to crypto's progress for a long time. The code would be of massive use to private projects but the public side would probably never recover.

Two squabbling Bitcoins is exactly what many detractors expect anyway. If it can happen there it can happen absolutely anywhere.

This will be a fresh source of drama for a long time. That's for sure. The miners would be crazy to go on with the HF - they would suffer from the crash as well, but looking at the vitriol being poured at the flamewars - some of them might have crossed the rationality border now.

Personally I am out until it resolves, or at least until I make some more informed opinion on how probable the HF is.

By the way LTC looks like a perfect hedge in this case - if there is a HF and ensuing chaos then LTC will be the closest substitution for BTC. It has been hibernating in bear mode for a long time, because it is the least innovative of the main alts - but now the lack of innovation is what makes it the best substitution for BTC.

BTU supporters have crossed the rational border a long time ago.

Blockstream is a company financed by banks and insurers. Their main goal is to weigh bitcoin, and in fact they are getting it.
But people are very easy to deceive

Anyone with a brain can see that. What do you think people gonna do with all those free bitcoins? If you think they will hold them, you are delusional. It will be a bloody dumpfest.

Making an alt of an alt is one thing, we saw with Etherum that it could work, but it was chaos for a while. Making an alt of BTC, that's another story, and I'm not sure BTC or even cryptos in general can afford similar chaos with BTC.

A bit like the Euro can be in trouble and overcome it, but if the USD was in trouble, there would be a worldwide panic for sure.

And China is not trying to take Bitcoin for themselves  ::)

what is BTU, new coin or what
or bitcoin new block size with unlimited block size, this mean can incraese fast time in transaction bitcoin
i think is good if bitcoin block size is unlimited

BTU will be an altcoin, virtual currency will suffer a lot we will go back a lot
hope someone stop them

Bitcoin Unlimited = BTU = Alt Coin

I read BitcoinUnlimited software is getting crashed due to bugs within it. If this is the case, we cannot expect miners are adopting this option of increasing block size by their preferences. In my understanding chances for hard fork is very very less in near future. Here is the news article on BitcoinUnlimited : https://www.cryptocoinsnews.com/caused-bitcoin-unlimited-node-crash

Nah! I don't think so! The hardforkers will go to their fork and the people who uses bitcoins will stay with bitcoins. The ratio of people moving to the Bitcoin unlimited will not be significant that will drop the prices of bitcoins. BTU will just be another altcoin! Especially the bug that was recently found, that is a cause of concern. It was not found by the developers but by some users. That is alarming really. Knowing that your devs are incompetent to not know there was that kind of bug.

Nowhere did he say BTC would crash, no matter how much you would like to use him for you noob sockpuppet FUD account. The fork would make his prediction of $3000 this year less likely. "Crash hard" , mmmkay.

Edit: for the record, I do not support Bitcoin Unlimited, I just think the rhetoric of the subject line is more inflammatory than need be.

The blocksize increase is segwit, tell the miners to signal the fucking thing already.

After segwit is adopted, we can raise the blocksize in a safer way since segwit addresses certain problems.

The problem is, even if we upgrade it to 2MB, they will soon demand more.

BTW soon BU members will vote on a SegwitHF BUIP

From Vinny's article "33% less almost immediately after a Hard Fork due to reduced network effects"

Now shut the fuck up and go away until you can learn to read and contribute something useful to the conversation.

Edit: Also from Vinny "If there was a fork and Roger wanted to pump Bitcoin Unlimited, he could literally dump all his Bitcoin (BTC) holdings into the market. I don’t want to even guess what 300,000+ coins being moved in a short space of time would do to prices, especially after a contentious hard fork where new money investors would already be on the sidelines."

Bitcoin Unlimited support peaked at approximately 33% and is decreasing, see:
https://coin.dance/blocks
At this moment in time there will not be a hard fork.

Refresh my memory... is it Nodes or Miners that has to hit the 75% threshold for BU or 95% for SegWit?

Also, Roger Ver stands to lose the most out of a hard fork that is clearly split. So to me, I can't really see a true contentious hard fork happening. Isn't that why they put a 75%/95% threshold? So that essentially, everyone goes one way or the other?

Bitcoin Unlimited is 49% Roger Ver and %49 Jihan Wu, the remaining %2 are paid shills and naive idiots.

Okay, I concede.  Given a history of flash crashes up to 80% down though, I initially absorbed that stat as less of a "hard crash" then a major correction. But given the Ver factor, I can see the calamity in Lingham's prediction. I just had a knee-jerk reaction to your OP, but I apologize for reducing you to a sockpuppet noob like that. I agree that BU is bad for Bitcoin, and seeing people state the cases against it is good. However, fanning the flames of fear seems counterproductive. Just my opinion.

Bitcoin Unlimited (BTU) will be a worthless Altcoin, BTC will bounce back.

Thank you. I know I have been a loud mouth about BTU but someone has to counter the paid shills around here.

BU does not want a contentious fork.  It is just a tool to allow larger blocks without requiring the blessing of self-appointed bitcoin priests.  Miners will only utilize the tool when the market is ready to have larger blocks.  They are not dumb enough to shoot themselves in the foot.  There is no magic threshold that will trigger a hard fork.

If you actually want to understand BU and not just parrot the unfounded attacks on it, check out the BU subfourm on the forum where the idea was hatched back in 2015: https://bitco.in/forum/forums/bitcoin-unlimited.15/

Start threads, ask questions, find out what BU actually is.  If you are right that is is bad, you'll be able to attack it much better once you understand it.

Thanks for your forum link.

I don't parrot unfounded attacks on BTU. Check my post history and you will find the criticisms I levy against BTU are indisputable even by the paid shills.

Yeah let's all just trust the miners to behave nicely. Just what Bitcoin needs, to trust a bunch of centralized Chinese miners to do the right thing... You say BU does not want a contentious fork, but there is nothing at all in their code that will guarantee this. They have made no safety precautions at all and nobody has any clue when the fork will activate and whether it will be safe when it does. Considering the recent bugs coming from the BU camp I do not trust them at all. The Core team is a billion times better and I'm getting really tired hearing about all the bullshit conspiracy theories surrounding Core from people who have no clue what they're talking about. Obviously we can expect this from people who are ignorant about Bitcoin and want to see it fail, but it's very disappointing to see real passionate Bitcoin fans fall for this. I would like to see bigger blocks too but I prefer doing it in a safe and responsible way and that's exactly what Core is doing. But people are impatient or have begun wearing tin foil hats and now we have this whole mess with BU. And they're even blocking a blocksize increase themselves by being against SegWit which is even more ridiculous. Stop the irrational Core hate already and start thinking.

If you don't trust the majority of miners, Bitcoin is DOA.

I would love to be able to get behind SegWit, but I can't support such a large change that has never been live on a network with tokens that have actual value.  Test nets don't count since there is nothing to be gained by disclosing a vulnerability when you could wait for it to go live and short the market.

I don't hate core, but they have burned some bridges by promising a blocksize increase within 3 months of segwit release and then failing to deliver it (https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff#.y441c9e2f points 2 and 3).  They could regain some support if they would deliver on that now, even if it is very late.

Trust me when I say I've thought more about the issue of scaling than most people on this forum.  I would appreciate it if you didn't assume I was mindless just because I hold different opinions than you.

I read the first page of your post history and just saw a bunch of misunderstanding and anger.

There's no misunderstanding just being vocal and speaking up against the BTU shills, that's where my anger lies. As far as posts go you need to look further back for my thoughts on BTU, I make a lot of posts )

Edit: Just posted my thoughts on BTU supporters, check that out if you want.

I've got better things to do than to go scrounging through your posts.  That last post was a bunch of ad hominem BS.  You are attacking a made up straw man "BU supporter" that doesn't actually exist and then slinging some insults.

That is the reality and Roger Ver is trying hard to take over the bitcoin but the code is filled with vulnerabilities and one of the main vulnerability attackers trying to fuck them up will use the null pointer and the assert statement which can literaly close the application and that is what happened recently. :D and it shows their programing skills .

Hurt feelings? I can understand, however, what I say about China is 100% true and indisputable. A vote of BTU is a vote for China centralization, plain and simple.

why, if they are listing it as an alt, it would distrupt the value of bitcoin? no-sense, it would be treated simply as a new alt with its pump and dump

most likely people(those that bought below $1000 of course) are selling as an excuse to caause a panic sellign and buy cheap coin

i see this bad trend in bitcoin, where every time a bad news come there is a big manipulation to cause fud in the market and make bitcoin cheaper, susually a pump happen after this

this make me think that bitcoin is simply not mature enough, a strong currency should not be affected by silly news like this, ever...

News like a fork is the worse thing that can happen to bitcoin, its normall that it gets affected

 I auto-corrected your post because I think you hit the nail on the head!  ;D :D :)
Hope you're all listening...
My only addition: Isn't this really just speculatory cash leaving the 1k market? I was very happy long before ETF & Fork "news"
 I don't make predictions, but I'm gonna HODL my BTC through this. I know the majority of you are day traders. Not knocking it, tons of money to be made...but HODL has been very, VERY good to any who have been in for the long haul
 just sayin   ;D

Many of the traders here also hold some serious amount of money in BTC and are mostly BTC believers.Most of the talk is mostly done to create an advantage of ones own agenda. And that is getting more BTC.
So if you 're not into trading, hodling has shown to be a good way to make your BTC investment grow over the years. I think this will be true for the future years as well.

There is truth to this statement.