Bitcoin Forum

Discovery of the covert use of ASICBOOST means that we now understand previously hidden motivations of miners who benefited from statemate in the scaling debate. Now that we know, we will almost certainly figure out a way forward. Don't know how exactly yet, but segwit will almost certainly be implemented one way or another.

This should be very bullish for the price of bitcoin.

Discuss.

Agreed. We finally understand the real hidden cause of the deadlock and can now work to solve the issue and move forward again by implementing SegWit + LN. Bitmain and their shills will shout and scream for a while to try and keep their advantage but I think they'll eventually find it's in their best interest to cooperate.

And you think a billion dollar mining industry will let the core devs destroy their position?

BU will be forced upon us no matter what the economy or users want.

Kodak/Polaroid was also a multi-billion $ industry...where it is now?
Besides, mining is NOT a multi-billion industry, but you know what is: CPU and GPU industries.
ASICS are very small in comparison.
Users determine the use.
BTW, if they get rid of covert hardware advantage I say...good riddance.
Miners serve the community, NOT the other way around.

Incidentally, you can see now how much interest is in the community re GPU-hundreds of posts daily vs ASICS...mostly nothing, apart from small size form factors.


Exactly

I still don't see how the revelations solve anything. You still have a group of miners who don't wanyt Segwit, and unless new mining pools appear to outvote them, this thing drags on.

No way lol. How can they force BU if nobody even cares to download the clients?

People will keep using Core. We'll get segwit sooner or later. In the meantime LTC will rise to all time highs because they will get there way faster than anybody else.

This discovery will not eliminate the motivation of many people who did not exploit this "secret"  >:( .... Some of the people in this battle are in

this for a attempted "power grab" and that will not go away. Yes, some people might understand why some miners were more motivated not to

accept SegWit, but that does not mean that they will change their choice.  >:(

We can cut the miners out of the loop if we have to. Change PoW, or UASF. Miners are not omnipotent.

Think of it like a big game of strategy. If you learn something new about your opponent's motivations, strategy, or assets, then you may have to change something about your own strategy.

Miners who do not have ASICBOOST woke up this morning with a brand new motivation to change the status quo, which puts them at a 20-30% disadvantage that yesterday they did not know existed. They will want segwit to pass so that Jihan loses his competitive advantage.

The news are certainly positive and a bit bullish but there is very little that can be done about it.
Bitmain is a private company and they will protect their money - and ASICBoost is generating more profits for them.
SegWit is supported by 32% (a slight 1-2% rise) and I don't see any changes in BU support, still ~38%

https://coin.dance/blocks (https://coin.dance/blocks)

And if we the users come to understand that the stalemate will never end if we leave things in the hands of the miners, and that mining centralization is the inevitable outcome of the status quo, then drastic measures like UASF or PoW change become less controversial.

We are awaiting proof of Greg's allegations. I believe that Emin Gun Sirer of Cornell is not yet convinced.

Cruise missile to Jihan's mega mining center should solve the problem.

Jihan needs to be fired and I hope that LTC pumps too because I need more BTC not only sit and watch BTC go higher in USD but I need more actual BTCs!

Regardless of ASICBoost, eventually Bitcoin needs to implement Segwit/LN to keep up with the competition.

they are not in position to command, if they fork and core change the algo, they would destroy all their farm in an instance, besides only the exchange have the real power here not miners

if an exchange won't listen their fork they are dead, and they said that they are always with core, so BU is doomed no matter what, maybe BU can be a good altcoin....

also the opposite is true, do you think that the miners would let their stupid decision, because of a 20% boost, to destroy their current earning, because of exchange refusing their hard fork? no they are not that strupid, the BU consensus % is regressing i see(38% vs 35% now)

iam not follow jihan wu, bitcoin unlimited still many problem, bitcoin unlimited this now can't replace bitcoin block
i think is good jihan wu dan roger ver stop about bitcoin unlimited issue

good news, even contraindicator duckf*ck confirms! Long on BTC with SegWit!

Look at this dudes history, follow the opposite of his predictions and you are right in 100 of 100 cases.

This is at least one of the reasons why SegWit gets blocked.But there are also people like Roger Bitcoin Judas Ver who are blocking it because of just wanting control and power.
But there will be will no fork with this asicboost revelation. And I'm sure SegWit will get forced in if miners will continue to act that arrogant. It's just a question of time.

Ok, I will give you that argument... but they will also know that they need to change their whole operation to run "LN nodes" efficiently and that

ASIC's are still a lot less maintenance than running these "LN nodes". They are still used to the same amount of income... with or without using

ASICBOOST. They are also uncertain if LN would earn them more profit than Bitcoin mining in the future.  ::)

SegWit levels the playing field for ALL miners, which might increase their profit a bit.  ;)

But how will they achieve that unless they add significant more mining capacity?

Good question. As long as Jihan opposes segwit, he can block its activation through the normal means, since he controls well over 5% of the hashing power.

So if that's not going to change, then the sooner we all realize it the better, so that we can implement the UASF (or whatever we need to do). And that will be more likely to succeed if the non-jihan miners have a vested interest in wanting it to succeed.