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Author Topic: My take on BU's long-term impact on the price of BTC  (Read 2427 times)
zimmah
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April 16, 2017, 02:13:59 PM
 #41

It's a tie. Segwit has won on every department, but the hashrate is still blocked by a centralizing actor, which is ridiculous but that's how the system works.
UASF is an option, to attack this ridiculous centralization.

It is slightly bonkers that a handful of people can do this. Look at what Litecoin's getting up to with the prospect of Segwit and they don't have the slightest scaling problem either.

It just goes to show how little vision the average miner who isn't enjoying asicboost has.

That's why BTC will get segwit with either hashrate or UASF because what the people want, we didn't sign up for Jihan Coin where a single person gets to block everything else. So signal what users want or get UASF.

you got things all backwards, Jihan isn't a threat to bitcoin. Blockstream is.

SegWit is a poison pill to bitcoin, and I'm glad litecoin is being a good labrat (because that's all they're good for) and takes the poison pill for us.

maybe that will safe bitcoin.

but blockstream might just blame the death of litecoin on something else.
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Wind_FURY
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April 17, 2017, 01:51:31 AM
 #42

It's a tie. Segwit has won on every department, but the hashrate is still blocked by a centralizing actor, which is ridiculous but that's how the system works.
UASF is an option, to attack this ridiculous centralization.

It is slightly bonkers that a handful of people can do this. Look at what Litecoin's getting up to with the prospect of Segwit and they don't have the slightest scaling problem either.

It just goes to show how little vision the average miner who isn't enjoying asicboost has.

That's why BTC will get segwit with either hashrate or UASF because what the people want, we didn't sign up for Jihan Coin where a single person gets to block everything else. So signal what users want or get UASF.

you got things all backwards, Jihan isn't a threat to bitcoin. Blockstream is.

It depends on whose side you are trying to be with. You have the right to argue for one side but it does not make it automatically right. Let us leave history to the judge of that.

Quote
SegWit is a poison pill to bitcoin, and I'm glad litecoin is being a good labrat (because that's all they're good for) and takes the poison pill for us.

Would care to explain why? It is easy to say one thing without fully understanding the situation. That is the reason why I ask a lot of questions so that I will learn the real issues and have the knowledge to make comments on them.

Quote
maybe that will safe bitcoin.

but blockstream might just blame the death of litecoin on something else.

Death of Litecoin? That is funny.

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pitham1
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April 18, 2017, 11:06:28 AM
 #43

It's a tie. Segwit has won on every department, but the hashrate is still blocked by a centralizing actor, which is ridiculous but that's how the system works.
UASF is an option, to attack this ridiculous centralization.

It is slightly bonkers that a handful of people can do this. Look at what Litecoin's getting up to with the prospect of Segwit and they don't have the slightest scaling problem either.

It just goes to show how little vision the average miner who isn't enjoying asicboost has.

That's why BTC will get segwit with either hashrate or UASF because what the people want, we didn't sign up for Jihan Coin where a single person gets to block everything else. So signal what users want or get UASF.

you got things all backwards, Jihan isn't a threat to bitcoin. Blockstream is.
SegWit is a poison pill to bitcoin, and I'm glad litecoin is being a good labrat (because that's all they're good for) and takes the poison pill for us.
maybe that will safe bitcoin.
but blockstream might just blame the death of litecoin on something else.

What is the worst thing which could go wrong with Litecoin implementing Segwit? Nothing.
It could only prove whether Segwit is scalable or not.
In the end, we need some method to increase the transaction capacity of Bitcoin.

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April 18, 2017, 01:31:49 PM
 #44

It's a tie. Segwit has won on every department, but the hashrate is still blocked by a centralizing actor, which is ridiculous but that's how the system works.
UASF is an option, to attack this ridiculous centralization.

It is slightly bonkers that a handful of people can do this. Look at what Litecoin's getting up to with the prospect of Segwit and they don't have the slightest scaling problem either.

It just goes to show how little vision the average miner who isn't enjoying asicboost has.

That's why BTC will get segwit with either hashrate or UASF because what the people want, we didn't sign up for Jihan Coin where a single person gets to block everything else. So signal what users want or get UASF.

you got things all backwards, Jihan isn't a threat to bitcoin. Blockstream is.
SegWit is a poison pill to bitcoin, and I'm glad litecoin is being a good labrat (because that's all they're good for) and takes the poison pill for us.
maybe that will safe bitcoin.
but blockstream might just blame the death of litecoin on something else.

What is the worst thing which could go wrong with Litecoin implementing Segwit? Nothing.
It could only prove whether Segwit is scalable or not.
In the end, we need some method to increase the transaction capacity of Bitcoin.
I agree, litecoin was called a dead-coin ( and for some people nothing has changes ), but I cannot understand why, people were talking that there is no possibility that LTC will increase it's price, because it has no practical usage, and it is not even possible to successfully speculate on this altcoin, but all that has turned out to be not true.

As we can see, LTC got hyped a lot thanks to the possible SegWit implementation, what is a very good event. We may see at least how SegWit will work with litecoin, for me it is something like an experiment.
If SegWit will work good for litecoin, then im one hundred percent sure that the support for SegWit among the miners will increase.
Omega Weapon
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April 19, 2017, 12:09:54 AM
 #45


Not really. Segwit support is slightly going up, yes but it is not something to celebrate over. We should give it more time.

Like I said, I'm not a SegWit supporter per se, I'm just glad that miners are using it as an excuse to fight BU.

Do you really think that will happen after their investment in ASIC and very large mining farms? They will impose their will on the network and use dirty tactics to get what they want.

Well, so far you've been wrong. Let's hope this continues to be the case. BU will hardfork before it gets activated, that's a near guarantee by this point.
I doubt BU will have enough support to cause a fork. It's as strong as Ver's money, meaning that as long as he's making it a personal hobby and uses money to promote it it's getting somewhere, but it's a lost cause. People just don't like the idea, period. No amount of promotion or attempts to make fun of Bitcoin's current state via btc.com will make it happen.
You can never be so sure about that, if BU support gets close to 50% some other miners that have remained neutral could show support to BU just too get activated and finally get some kind of solution approved even if they don’t agree fully with the solution.
cellard
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April 19, 2017, 02:40:06 PM
 #46

I think this was all a coordinated plan to get the price back to sub $1000 so whales can buy. Same thing with LTC, they crashed the price so they can buy sub $10.

I do not think so. The truth is slowly showing that there is a conspiracy with the miners and the Bitcoin Unlimited developers. Its like the Chinese miners have hired their own set of developers to take control and do with Bitcoin any roadmap they want.

Well this is going to fail. Either we change the POW or UASF will be used to continue core's roadmap if they continue blocking SegWit.
If miners think they are the ones in charge they will have to learn it the hard way. Millions of $ in invested mining rigs and asic developemnt might be worthless soon.

I was a proponent of UASF BIP 148, but upon further analysis, I think it's a suicide mission. Think about the impact of an UASF without miner consensus. The split is guaranteed. Jihan controls several pools, the hashrate is a big weapon in the PoW world, like it or not.

As a result, this leads us to an inevitable PoW change, killing every miner's business. It's a chaotic situation.

How are we supposed to solve this smoothly? I don't think there's a way. Maybe having a price crash to get rid of Jihan and enable segwit is a good thing, but we risk a lot in the process.
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April 23, 2017, 05:38:49 PM
 #47

Going by node count, BU's chances of a soft fork are all but done by this point.

Roger Ver owns bitcoin.com

https://www.whois.com/whois/bitcoin.com

If he were to hardfork BU and change the content of bitcoin.com to information about his altcoin, it certainly would be a massive "fuck you" to the entire BTC community.

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