An Open Letter from Sam Cole (CEO of KNC Miner)

[TheNewAnon135246]

All.


Maybe e-mail is not the best place to do this, but there aren’t many better choices that come to mind right now. Please feel free to quote me and forward this to anyone you see fit. You may even Post it on Reddit or other forums or simply ignore it.

To anyone reading this who was not on the original To: list. It simply means that you were not at the top of my inbox and nothing else. no one has been excluded on purpose at all.


We are clearly facing a crises like we have never faced before in the bitcoin echo-system. It appears to be completely caused by humans this time. It should be seen as a success issue, even if it’s not a nice problem to have.

Bitcoin is, as I hope you all agree, still very very small on the size of global acceptance. We have a long way to go before it actually realizes its true potential. I personally believe that bitcoin can become a great system for many things in the future. We may all have different ideas on where Bitcoin is going but I don’t believe for one second that anyone here will want it to stop and stay exactly where it is.

The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.

We have on-boarded about as many users as we can. There simply is no space left to expand bitcoin. There are many competing ideas there are many smart people and possibly to many ideas. The fact remains the same:
Most of the latest development ideas coming out are not addressing our issues this time. So it will fall back on us to protect what we have built and let it expand into what we think it can become.

So I propose that we jump to 2mb in the Bitcoin classic idea. Not only will this allow us to expand bitcoin and on board more users, it will also show that:

· We will protect our investments and businesses.
· Sound economic rules govern bitcoin businesses and not just ideological ideas.
· Under pressure we can make tough decisions that are for the best of bitcoin and not for any one individual company.
· The ideas and fixes the development team produce need to be more influenced by the economic requirements we have, not just the technical ones.

Now for the other maybe good maybe bad things

· It will cause more rifts in the development teams.
· It will cause us all to go through the pain of a hard fork.

The lists above are not meant to be extensive or exhaustive and there are many that can be added to either side, but the main point is this: It’s no longer really a choice to simply stand still and wait for others to fix this problem.

I propose that we all simply stand up and stand behind bitcoin. Allow it to grow more in the simplest way possible, and I can’t emphasize enough how important simple is to this process. Humans are making this complex we don’t need technology to make it more complex.

So with the above said: We will be changing our code to run 2mb bitcoin classic ASAP, please join me in changing your code to run the same or public show your support.


Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole

[Lauda]

echo-system

Illuminati confirmed. The most scary thing here is that I've thought it was a ecosystem this whole time!
Where did you acquire this email from? I want to see the original as evidence not a quote.

[TheNewAnon135246]

echo-system

Illuminati confirmed. The most scary thing here is that I've thought it was a ecosystem this whole time!
Where did you acquire this email from? I want to see the original as evidence not a quote.

Sorry, forgot to add the source: https://forum.bitcoin.com/topic4868.html

EDIT: Nothing on the KNC website or anywhere else. Maybe it's old, related to this: https://bitcoinxt.software/industry-letter.pdf

Can't recall reading an open letter from him before.

[mammon]

1mb, 2mb, 4mb blocks? It's all a laugh!

The capacity of a floppy in one Block, well bright boys that's the future

[TheNewAnon135246]

1mb, 2mb, 4mb blocks? It's all a laugh!

The capacity of a floppy in one Block, well bright boys that's the future

Maybe raising it slowly is easier to implement and causes less disturbances instead of raising it all at once....

[Lauda]

IMO Ver is very suspicious. Let's not forget the time that he was betting on Mt.Gox solvency. In addition to trying to get as much traffic to his website as possible (even spam advertising here) he's trying to make a push to whatever "implementation" possible (as long as it is not Core). I'm not going to trust this letter unless there is a official statement on the website or somewhere aside of a forum. Even if this is authentic it doesn't matter much. Just because he's the CEO of KNC Miner that does not mean that he knows anything related to the block size problem.

Maybe raising it slowly is easier to implement and causes less disturbances instead of raising it all at once....

Bump to 1.5MB and SegWit? Why not.

1mb, 2mb, 4mb blocks? It's all a laugh!
The capacity of a floppy in one Block, well bright boys that's the future

Illusion of knowledge, as present among many members here and on reddit, is our main enemy (that's being exploited by charlatans).

[mammon]

No, realism is far away by a lot of people here.

1mb = 1mb, you cannot put more data in it, impossible.
That's what I call ignorant!

[pedrog]

Interesting stuff, lets see how it develops...

Any attempt of dissent has meet incredible resistance till now, maybe if more miners get on board we will see some progress.

[forevernoob]

Ok that's weird. I thought this guy was postive toward seg wit and core's scaling solutions.

[xhomerx10]

It's rather odd that this isn't posted on KNCs website.  If Sam Cole were serious about it, why would he not advertise this on his mining website?  My bet is on hoax.

[pedrog]

It's rather odd that this isn't posted on KNCs website.  If Sam Cole were serious about it, why would he not advertise this on his mining website?  My bet is on hoax.

Dissent is met with great DoS, one must be very careful...

[LiteCoinGuy]

if the Core devs would just make a compromise to 2 MB they would kill all discussions at once....

[spazzdla]

Might as well go for 2mB until someone can figure out how to get more tx/s without taking up so much space.  Sidechains, etc, who knows.

[agath]

Bitcoin core = altcoin. Soon.

[Dusty]

Bitcoin core = altcoin. Soon.

+1

[Alley]

Can we talk about bitcoin classic here or will we get banned?

[RustyNoman]

Can we talk about bitcoin classic here or will we get banned?

It is quite urgent to expand the block size now. Without it, there is not much use of bitcoin. Blockstream will not come online next month.

[Zarathustra]

Bitcoin core = altcoin. Soon.

Very soon:

https://www.reddit.com/r/btc/comments/4147zs/bitfurygroup_is_ready_to_move_forward_and_support/
https://www.reddit.com/r/btc/comments/413w2s/check_out_bitcoinclassics_miners_support_list_now/

[Erkallys]

Can we talk about bitcoin classic here or will we get banned?

It is quite urgent to expand the block size now. Without it, there is not much use of bitcoin. Blockstream will not come online next month.

What is this blockstream ? Is it another "concept" (another secession in fact), like Bitcoin XT or Bitcoin Classic ?

[spiderbrain]

if the Core devs would just make a compromise to 2 MB they would kill all discussions at once....

Hell Yeah.