What does everyone think on Iamnotbacks view on Jihan and current UASF situation

[dwgscale11]

https://bitcointalk.org/index.php?topic=1857162.msg18534663#msg18534663

You think Jihan is gonna end up supporting while the UASF gets closer to being a reality? Especially on LTC?
Wouldnt he want to keep the power by doing this?

[1715631603]

1715631603

[pereira4]

Jihan has full control over segwit in LTC too. The only way BTC or LTC can get segwit is UASF. UASF will get more and more support overtime. People are just not going to sit back and see how BTC becomes useless for 99.99% of population, so JihanChain will not get any support.

[Red-Apple]

my opinion is that this guy needs to get a life!

i keep seeing him online and on bitcointalk 24/7 either on "Iamnotbacks" account or some alt account and every topic on the forum that you click on you will see him there. and he is either typing something long and boring or quoting something long and boring from somewhere else in 20 other topics.

[NeuroticFish]

my opinion is that this guy needs to get a life!

I think that I have an idea why he's online this much.
And if I am right .. you don't want to be in his place.

i keep seeing him online and on bitcointalk 24/7 either on "Iamnotbacks" account or some alt and every topic on the forum that you click on you will see him there. and he is either typing something long and boring or quoting something long and boring from somewhere else in 20 other topics.

While I agree that he has sometimes too long posts, he has pretty good point and with pretty good arguments.
You can agree with them or not, but he is trying to give people a better insight and a chance to learn something.
If they have the patience to read the long texts, of course

Edit: and an answer to OP

Of course Jihan Wu tries to get richer if he can. But I don't think that he could keep the LTC price low if the price has all it gets to actually rise.
If the other speculators see him attempt anything.. unnatural, they'll eat his money, his soul and everything they can.

I think that Jihan Wu just tries/tried to buy some time to get his assets ready for the next step, whatever is that.

So, as usual, I agree only party with Iamnotback.

[iamnotback]

or some alt account

I haven't used any other account in 2017.

If you see any posts on my old accounts in 2017, that is because they've been hacked. I scrambled the passwords, but apparently not well enough. And TPTB_need_war I stopped using it because it was banned but I forgot to scramble the password and it since got hacked into. Archive.org has the historical record of that account before it got hacked. So if they delete or edit it, I can prove it.

And I had no accounts that aren't listed in the link in my signature.

[shinratensei_]

I don't think so Jihan Wu looks strongly disagree about that UASF activation. Since its activation depends on the date and not about the number of Hashrate or Node supporters.

I really believe if Jihan is thinking about what the next step he can doing it later to prevent the UASF.

But anyone knows, with the UASF activation and do you think the chain rules will be useless in the future?

[iamnotback]

I have a new theory on what Jihan's strategy may be...

Re: What does everyone think on Iamnotbacks view on Jihan and current UASF situation

Jihan has full control over segwit in LTC too. The only way BTC or LTC can get segwit is UASF. UASF will get more and more support overtime. People are just not going to sit back and see how BTC becomes useless for 99.99% of population, so JihanChain will not get any support.

I don't know if Jihan plans to try block SegWit entirely from Litecoin. I don't understand what his motivation to do that would be. It seems insane.

But I will say that none of your UASF shit will work. So Jihan might be trying to create a fight with you so that he can take your LTC and BTC from you. The more I think about this, the more I realize he may be trying to draw you UASF retards into a fork war trap so he can strip you of your wealth. Everybody who values the value of blockchains will sell the UASF fork, because democracy totally devalues blockchains and makes them worthless. I think Jihan wants to make money while also making an ideological point. It is survival-of-the-fittest and he wants to impoverish all those who don't understand that immutability is what makes blockchains valuable and democracy is what makes everything bankrupt, untrustable, and valueless. However, after bankrupting all the USAF, BU, Blockstream retards, I think he might allow SegWit to proceed on Litecoin as its final upgrade (because otherwise scaling will move to another altcoin which he can't profit on). I think he may be stalling and playing shenanigans not only to maximize profit interim, but also to instigate a fork fight with retards, so he can once and for all teach them they can never succeed. What better way to teach than by taking all their money. I try to teach with words. Jihan is more efficient. He understands that men understand spanking better than words.

Interesting discussion going on over there... (click the quote if you're interested to go read the context)

Also BTC will not be used by billionaires only, that's stupid, people will demand changes so bitcoin cannot be used only by a handful of people on earth. If it takes UASF then UASF will happen so segwit + LN can happen and everyone can use bitcoin, additional blocksize increases will come too. Nobody will support the "billionares only blockchain", that's stupid.

Sorry you can't do anything to stop it:

...such nonsense as UASF.

Cry and scream all you want. You are wasting your time fighting what is inevitable.

Soon you will realize this. Go ahead and try. My popcorn is laughing.

It's as easy as UASF + PoW change with a new solution such as randomly changing algorithm to avoid efficient ASIC stacking.

"BillionaireChain" used by 2,000 people on earth will be seen as a joke by the rest of the population and it will no longer be Bitcoin. Progress will move on.

None of your democracy shenanigans will prosper. But feel free to lose all your wealth trying.

The opinion of the masses does not matter, if we presume that fungible money will remain supreme in the economy.

I have one alternative to offer which is the theory that the economy will bifurcate into fungible money driven tangible economy and a knowledge age economy in Inverse Commons. The latter is what my BitNet project is about. If I am correct, then that will be our only alternative.

But don't believe me. Please go waste your time and lose all your wealth. The smart money is starting to recognize my expertise. Please do your own due diligence.

[dwgscale11]

I have a new theory on what Jihan's strategy may be...

Re: What does everyone think on Iamnotbacks view on Jihan and current UASF situation

Jihan has full control over segwit in LTC too. The only way BTC or LTC can get segwit is UASF. UASF will get more and more support overtime. People are just not going to sit back and see how BTC becomes useless for 99.99% of population, so JihanChain will not get any support.

I don't know if Jihan plans to try block SegWit entirely from Litecoin. I don't understand what his motivation to do that would be. It seems insane.

But I will say that none of your UASF shit will work. So Jihan might be trying to create a fight with you so that he can take your LTC and BTC from you. The more I think about this, the more I realize he may be trying to draw you UASF retards into a fork war trap so he can strip you of your wealth. Everybody who values the value of blockchains will sell the UASF fork, because democracy totally devalues blockchains and makes them worthless. I think Jihan wants to make money while also making an ideological point. It is survival-of-the-fittest and he wants to impoverish all those who don't understand that immutability is what makes blockchains valuable and democracy is what makes everything bankrupt, untrustable, and valueless. However, after bankrupting all the USAF, BU, Blockstream retards, I think he might allow SegWit to proceed on Litecoin as its final upgrade (because otherwise scaling will move to another altcoin which he can't profit on). I think he may be stalling and playing shenanigans not only to maximize profit interim, but also to instigate a fork fight with retards, so he can once and for all teach them they can never succeed. What better way to teach than by taking all their money.

Interesting discussion going on over there... (click the quote if you're interested to go read the context)

Also BTC will not be used by billionaires only, that's stupid, people will demand changes so bitcoin cannot be used only by a handful of people on earth. If it takes UASF then UASF will happen so segwit + LN can happen and everyone can use bitcoin, additional blocksize increases will come too. Nobody will support the "billionares only blockchain", that's stupid.

Sorry you can't do anything to stop it:

...such nonsense as UASF.

Cry and scream all you want. You are wasting your time fighting what is inevitable.

Soon you will realize this. Go ahead and try. My popcorn is laughing.

It's as easy as UASF + PoW change with a new solution such as randomly changing algorithm to avoid efficient ASIC stacking.

"BillionaireChain" used by 2,000 people on earth will be seen as a joke by the rest of the population and it will no longer be Bitcoin. Progress will move on.

None of your democracy shenanigans will prosper. But feel free to lose all your wealth trying.

The opinion of the masses does not matter, if we presume that fungible money will remain supreme in the economy.

I have one alternative to offer which is the theory that the economy will bifurcate into fungible money driven tangible economy and a knowledge age economy in Inverse Commons. The latter is what my BitNet project is about. If I am correct, then that will be our only alternative.

But don't believe me. Please go waste your time and lose all your wealth. The smart money is starting to recognize my expertise. Please do your own due diligence.

What are you proposing the smart money go to?  Litecoin and the uncertainty of getting Segwit via miners or UASF?

[NeuroticFish]

Yep, this makes much more sense. Divide et impera is the easiest and most used ways during history for fame and riches.
He could indeed attempt that. Also proving that democracy is just a silly idea would be a bonus.

[iamnotback]

What are you proposing the smart money go to?  Litecoin and the uncertainty of getting Segwit via miners or UASF?

No. I think we have to trade this manipulation on Litecoin, noting that he will again run the price up and then frustrate everyone to incite a UASF fork attempt. My new speculative theory is he wants us to feel like we are on a yoyo that he controls in order to incite the MOB to break out their pitch forks. Or just stay on the immutable fork of Bitcoin as the safest holding.

Sell any and all forks not approved by Jihan. You will take money from Block(stream)heads who believe in democracy.

Other smallcap altcoin speculation is orthogonal to this.

[btcbug]

... Everybody who values the value of blockchains will sell the UASF fork, because democracy totally devalues blockchains and makes them worthless. I think Jihan wants to make money while also making an ideological point. It is survival-of-the-fittest and he wants to impoverish all those who don't understand that immutability is what makes blockchains valuable and democracy is what makes everything bankrupt, untrustable, and valueless...

I'm curious how do you view UASF or any Democratic type solutions as dangerous (which I agree), yet you have been bullish with regards to ETH vs ETC?

Clearly, atm at least, the market is valuing ETH and for some valid reasons (development or whatever), but the market has not valued immutability (yet).

Edit: Perhaps it's different, because ETH/ETC are not really store of value tokens?

[iamnotback]

... Everybody who values the value of blockchains will sell the UASF fork, because democracy totally devalues blockchains and makes them worthless. I think Jihan wants to make money while also making an ideological point. It is survival-of-the-fittest and he wants to impoverish all those who don't understand that immutability is what makes blockchains valuable and democracy is what makes everything bankrupt, untrustable, and valueless...

I'm curious how do you view UASF or any Democratic type solutions as dangerous (which I agree), yet you have been bullish with regards to ETH vs ETC?

Clearly, atm at least, the market is valuing ETH and for some valid reasons (development or whatever), but the market has not valued immutability (yet).

Edit: Perhaps it's different, because ETH/ETC are not really store of value tokens?

1. My own view on immutability has changed since I was buying ETH some weeks ago.

2. My main reason for diversifying into ETH was to sidestep the uncertainty in BTC. And because I think Vitalik can possibly incite another bubble. And ETH may get scaling Lightning Networks (in a rudimentary form) first, which might be good for a pump.

3. Yeah ETH is bet on things with blockchains other than store-of-value and fungible money. It is sort of in my knowledge age concept of a bifurcation. Thus I invest in ETH as a hedge against them accomplishing what I want to do with my BitNet project before I am able to. But I see some serious flaws in ETH that leads me to believe I could beat them if ever I can get any momentum going. We'll see. Any way, yeah ETH is a different beast.

[iamnotback]

@btcbug, I realized another factor on ETH in addition to those I stated in my prior post:

But I think you are wrong regarding UASF. What is currently going on is a hostage situation where 1 man is holding back an entire network. Two, actually.
You say "immutability", I say "his own benefit". Who knows what it will be next, and before you know it, he's in bed with certain entities.

But while he can block us from activating SegWit, he can't HF by himself to do something naughty, because the other miners will turn against him and he apparently doesn't control 51% by himself. He forced alliances on this SegWit issue, but I don't think he could for naught activities.

Btw, I agree that having one manufacturer that makes such a large percentage of the ASICs is not good. But that is PoW. I actually am trying to develop a replacement for PoW.

If you don't want PoW, then go to PoS coin instead. ETH was able to take control because Vitalik is going to fork to a POShit eventually anyway, so there is no investment in ASICs.

UASF is, currently, the best way to put him and other mining entities back in their places and set a precedent, as a warning to anyone that attempts to attack the network. And, strictly from a speculative pov, people seem more than happy to put their money where their mouth is wrt this UASF event, opposite of your claim that people don't want to store value on a democratic chain.

You try and you will lose your money. I warned you. The big money will not tolerate a non-hashrate driven MOB. If they could tolerate it, they would already have invested in PoShit tokens.

You say you want PoW then you say your don't want PoW. Make up your mind.

[iamnotback]

Jihan Wu approves of my posts?

I am an ENTP

I am too.

I'm also an Architect archetype, but I can also eagerly switch into Algorithmicist or Sharpshooter mode but I'll burnout of those tangential roles if I remain mired in them too long. Also I can if I want be a Translator especially in a verbal setting because I find writing much too slow, tedious, and non-interactive communication medium. I'm hyper social when I can jam with and perceive the real-time cues of the people around me, but I'll be quickly bored if the social interaction is not stimulating and prefer to either go do sports or solitary mental activity.

P.S. News flash. You've been cited by the villainous noble kingmaker in the HF war of crypto-currency. I'm speculating he may be responding to my posts about the Inverse Commons. Alas, your blog post on the Dark Enlightenment seems to become more relevant every day. I don't think readers yet realize how important this potentially is. I don't think your magnum opus is completed. Or perhaps I am (not!) just off in left field kooky.

Last year, Kevin Pan recommended me a book called The Cathedral and the Bazaar. I got it. We will put lots of money.

I regretted one thing. In China, open source culture is not popular. I did not understand it. We put too less or 0 money into community.

[CoinHoarder]

I think UASF would work. For example...

ETH vs ETH Classic... I think ETH won the battle there because mostly all of the decent smart contract projects, the original developers, and most of the userbase went with the new ETH chain. In the end, for both ETH and ETH Classic, their value will be derived from the quality and usage of their smart contracts. ETH has ETH Classic beat hands down at the moment, and it doesn't appear like that will ever flip flop.

Now, let's consider LTC vs LTC Classic:

LTC:
LTC keeps its developers funded by the LTC association
Adds Segwit and all the benefits of such
Adds LN and all the benefits of such
Adds various projects that developers can add on top of Segwit and the LN (some have publicly stated that they will develop said projects on LTC rather than Bitcoin if Segwit/LN are activated)
Possibly steals some transactions from Bitcoin due to Bitcoin not being able to handle all of its current transactions, plus the speed benefits
LTC finally gets out of BTC's shadow, starts innovating, and stops playing the copycat game.
Bigger userbase and community

LTC Classic:
Would be LTC as it is today, minus all of LTC's developers
Jihan ultimately has the final say so in every fork
Smaller userbase and community



Just as I think ETH will be more valuable than ETH Classic in the future, my bet would be on LTC rather than LTC Classic. Honestly, I think it is a no-brainer.

[iamnotback]

@btcbug, more explanation of my prior comment about ETH...

how are the investment is ASCIs related to this?  
Are you making things up again      


(ASCIs, Except if you have proof of course, Is only an incentive to REMAIN and STICK to the chain where your ASCIs Belong, what  2+2 is equal to, big boy?)

I love how you insult me while asking me to explain what you don't know.  

"I am ignorant and you are an asshurl, but tell me what I don't know before you fuck off". Lol. Very persuasive.

Ahem. Ummmm. (Grabs chalkboard and prepares to writes some BIG LETTERS like ABCs for ADHD children)

Uhhh, can SHA256 ASICs on the scale owned by Bitmain be profitably repurposed to any other coin? No. Can GPUs be profitably repurposed from ETH/ETC to another coin or activity? Yes.

Can the supply of hashrate on Bitcoin be suddenly increased by 50% by renting hashrate? No, supply of ASICs is constrained. Can the supply of hashrate on ETH/ETC be suddenly increased by 50% by renting hashrate? Yes, GPUs are not constrained and GPUs from other coins can be incentivized to switch.

Miners on ETH/ETC have no vested interest. Vitalik will be kicking them out someday anyway. They can repurposed to the most profitable coin any time. So miners on ETH/ETC have no vested interest to enforce immutability. On Bitcoin they have huge vested interest to prevent retards from turning Bitcoin into a political clusterfuck or a BDFL such as Vitalik.

More saliently, Ethereum is a power-vacuum because miners have no vested interest. Thus Ethereum can only exist with a BDFL. This is why ETC was able to fork off.

Stop insulting me and respect the knowledge of those who are smarter and more widely studied than you are. Feel free to reason with me, but stop acting like childish nincompoops.

[iamnotback]

Also soft forks turn into hard forks if there is contention. That is why soft forks don't activate without 75 - 95% hashrate support. The authors of UASF are retarded.

Lowering the activation threshold for soft fork of SegWit on Litecoin to say ~60% which is effectively what UASF would be, is very risky. Jihan may be hiding hashrate that can use to create a HF with (he might even be signaling SegWit secretly with some of his hardware in order to lure the UASF into overconfidence).

You try and you will lose your money. I warned you. The big money will not tolerate a non-hashrate driven MOB. If they could tolerate it, they would already have invested in PoShit tokens.

You say you want PoW then you say your don't want PoW. Make up your mind.

The LTC UASF situation is much different than Bitcoin's. For now, in BTC, there is a stale mate between miners so any attempt, be it UASF, BU HF or whatever is doomed to fail until there is a clear winner.

Litecoin on the other hand already has ~70% of the miners behind SegWit (and others that want it are not signalling yet, like ProHashing), want development built on top of it, the community wants SegWit and economic nodes want SegWit. One person blocking this cannot stand, and he won't be able to do anything about it.

But I wrote before that it is not clear if that 70% really exists. Jihan may be fooling you by signaling some of his hashrate to activate SegWit to lure you into a trap.

If you indeed have 70% or 60%, then you don't need a USAF, just lower the threshold. The reason to not to do that is because it is very risky. UASF helps nothing! Everything depends on hashrate.


I have another new theory for Jihan's motivation. He may want Charlie Lee to be more concrete about SegWit being the final protocol update. The last thing Jihan wants is another set of Core-like developers trying to create trouble. Charlie works for Coinbase (or DCG) and so he might be pressured to put stuff on Litecoin's protocol that favors the vested interests of his employers at the detriment of others.

Charlie needs to have a talk with Jihan asap.

[btcbug]

@iamnotback, thanks i'm wrapping my head around it.  Very interesting situations and fascinating to think about!

If you indeed have 70% or 60%, then you don't need a USAF, just lower the threshold.

Good point! Why the heck all this talk about UASF's all of a sudden.

[bbc.reporter]

https://bitcointalk.org/index.php?topic=1857162.msg18534663#msg18534663

You think Jihan is gonna end up supporting while the UASF gets closer to being a reality? Especially on LTC?
Wouldnt he want to keep the power by doing this?

He is clearly talking out of his ass most of the time. If you read all his theories take them lightly and do not make investment decisions because of them. He also keeps pushing for litecoin to reach 50 and that makes me think he is holding LTC right now. Right there alone could make his opinions biased. Maybe he thinks his posts can move the market.

He may also be overthinking everything.

[Thenoticer]

https://bitcointalk.org/index.php?topic=1857162.msg18534663#msg18534663

You think Jihan is gonna end up supporting while the UASF gets closer to being a reality? Especially on LTC?
Wouldnt he want to keep the power by doing this?

He is clearly talking out of his ass most of the time. If you read all his theories take them lightly and do not make investment decisions because of them. He also keeps pushing for litecoin to reach 50 and that makes me think he is holding LTC right now. Right there alone could make his opinions biased. Maybe he thinks his posts can move the market.

He may also be overthinking everything.

He has openly stated he is holding.

He probably was overthinking a little, as he stated he sold then bought back in.

It is also a fact he helped make Risto. Think about that for a second.

And finally why would he tarnish his rep for litcoin which he admits he doesn't care about it? The answer, he is really just concerned with being right.

I for one am curious as to his continued analysis of reading the litcoin tea leaves and to what he would consider going into when litecoin hits his mark.