Bitmain announces plan to create altcoin if BIP148 succeeds

[forevernoob]

You're saying Jihan and the many big blockers aren't actual bitcoiners? Sounds like an emotional thing to say. And to answer your question, maybe it won't be centralized, but it definitely won't be bitcoin with minority hash power. Don't fall for the lies. We will soon have a superior bitcoin with large blocks and we may also have a Core/Segwit altcoin. Ignore false narratives that try and flip this.

Jihan might be a bitoiner but he is also the CEO of a mining cartel. I rather have cypher punks as users than Jihan and pals.
I'm not a UASF supporter but saying that only because it has minority hash power it's not Bitcoin is so wrong on so many levels.
You think hash power is the only thing that makes "Bitcoin" Bitcoin?

[deisik]

https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/

Bitmain is announcing that if BIP148 succeeds, then they are essentially going to mine a new SHA-256 altcoin instead of Bitcoin. If you don't do anything, it'll be as if mining power dropped somewhat, but you'll otherwise be completely unaffected.

I feel like some people might read this statement as trying to force a decision between Bitmain's altcoin and BIP148, but you should be roughly equally unaffected whether or not you enforce BIP148. It might help BIP148's chances a little due to removing Bitmain from consideration and therefore increasing the chances of activating the traditional BIP141 SegWit deployment, though I continue to be pessimistic about BIP148's chances; I consider continuation of the status-quo and a somewhat later BIP149 UASF as the most likely outcome.

I kinda doubt that they're actually going to stick by what they say here, but if they do, it only seems like good news. If you'd like to use a currency controlled by a single company that puts its ability to use its patented Asicboost tech above all other considerations, feel free! I'll stick with Bitcoin, thank you very much.

This is what we should have expected

And this is what I've been telling many times myself, namely, that miners (Jihan Wu's puppets, specifically) will leave no stone unturned to escalate things further (to keep things where they are now). But I don't think that they are really going to stake everything when the time comes to decide and actually follow their decision. This will just turn out the same bluff as it has always been the case before with miners and the stuff they have been proposing (like BU and similar bullshit)

[Denker]

I was waiting for some action from the dark side! And here it is!
To be honst I don't think Jihan is really that stupid! OR is he? A 100% centralized Jihancoin, premined and probably without nodes fully validating transactions as Jihan hates this right?! Who is going to use this crap? And what developers shall work on this? I'd guess NOBODY!
I say he is bluffing. Hot air! Empty words!Just some more FUD!
This is soo much more fuel for UASF 148 right now.

[FiendCoin]

You're saying Jihan and the many big blockers aren't actual bitcoiners? Sounds like an emotional thing to say. And to answer your question, maybe it won't be centralized, but it definitely won't be bitcoin with minority hash power. Don't fall for the lies. We will soon have a superior bitcoin with large blocks and we may also have a Core/Segwit altcoin. Ignore false narratives that try and flip this.

Jihan might be a bitoiner but he is also the CEO of a mining cartel. I rather have cypher punks as users than Jihan and pals.
I'm not a UASF supporter but saying that only because it has minority hash power it's not Bitcoin is so wrong on so many levels.
You think hash power is the only thing that makes "Bitcoin" Bitcoin?

25hashcoin is probably a bought account employed by Jihan or Ver, no one should believe anything that shill says. If you check his posts, one day he is 100% pro core and the next 100% pro Jihan, a complete 180 turnaround in a short span with no explanation.

As for the Jihan HF, I would be very happy if he and his conspirators forked off the network. He and anyone else who thinks they can hijack Bitcoin need to be taught a lesson.

[mindrust]

Jihan shills are ready to name their alt as "bitcoin" woohooo!

This gon' be gud.

What a freakshow  

25hashcoin is probably a bought account employed by Jihan or Ver

Exactly my thoughts. Added him to my "ignored/jihan spammers" list decades ago.

[25hashcoin]

You're saying Jihan and the many big blockers aren't actual bitcoiners? Sounds like an emotional thing to say. And to answer your question, maybe it won't be centralized, but it definitely won't be bitcoin with minority hash power. Don't fall for the lies. We will soon have a superior bitcoin with large blocks and we may also have a Core/Segwit altcoin. Ignore false narratives that try and flip this.

Jihan might be a bitoiner but he is also the CEO of a mining cartel. I rather have cypher punks as users than Jihan and pals.
I'm not a UASF supporter but saying that only because it has minority hash power it's not Bitcoin is so wrong on so many levels.
You think hash power is the only thing that makes "Bitcoin" Bitcoin?

25hashcoin is probably a bought account employed by Jihan or Ver, no one should believe anything that shill says. If you check his posts, one day he is 100% pro core and the next 100% pro Jihan, a complete 180 turnaround in a short span with no explanation.

No, but nice try. That's all you Core people can do is accuse people of being shills isn't it? Is it really that unfathomable that real people wan't to actually scale bitcoin with larger blocks how it was intended? Yes, I used to be a pro Core sheep and didn't know any better but I realized I have been duped. Here's some great reading material for anyone who isn't sure whether or not they are acting in bitcoins best interests: https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0

[Lutpin]

For now they are bitcoiners but it won't last long. Soon they will be shitcoiners after their hardfork

Explain to me how uasf will be bitcoin with a minority hashpower but this hard fork would be an altcoin with a majority hashpower and majority of the ecosystem backing it? You have it completely backwards. There's bitcoin, and then there's Core trying to desperately keep their grasps on bitcoin with uasf.

How about you explain to us how this "uahf" will be bitcoin after bitmain mined it privately for 72 hours?
How can you accept any chain as bitcoin that has a 432 block part being mined in private?
Sounds like bit(main)coin to me.

[FiendCoin]

You're saying Jihan and the many big blockers aren't actual bitcoiners? Sounds like an emotional thing to say. And to answer your question, maybe it won't be centralized, but it definitely won't be bitcoin with minority hash power. Don't fall for the lies. We will soon have a superior bitcoin with large blocks and we may also have a Core/Segwit altcoin. Ignore false narratives that try and flip this.

Jihan might be a bitoiner but he is also the CEO of a mining cartel. I rather have cypher punks as users than Jihan and pals.
I'm not a UASF supporter but saying that only because it has minority hash power it's not Bitcoin is so wrong on so many levels.
You think hash power is the only thing that makes "Bitcoin" Bitcoin?

25hashcoin is probably a bought account employed by Jihan or Ver, no one should believe anything that shill says. If you check his posts, one day he is 100% pro core and the next 100% pro Jihan, a complete 180 turnaround in a short span with no explanation.

No, but nice try. That's all you Core people can do is accuse people of being shills isn't it? Is it really that unfathomable that real people wan't to actually scale bitcoin with larger blocks how it was intended? Yes, I used to be a pro Core sheep and didn't know any better but I realized I have been duped. Here's some great reading material for anyone who isn't sure whether or not they are acting in bitcoins best interests: https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0

A "real" person cannot possible believe the shit you post. You shills really should at least make an effort to not sound like shills, then maybe people might think you are a real person and not some bought, employed, mouth-piece for Jihan and his conspirators.

[25hashcoin]

You're saying Jihan and the many big blockers aren't actual bitcoiners? Sounds like an emotional thing to say. And to answer your question, maybe it won't be centralized, but it definitely won't be bitcoin with minority hash power. Don't fall for the lies. We will soon have a superior bitcoin with large blocks and we may also have a Core/Segwit altcoin. Ignore false narratives that try and flip this.

Jihan might be a bitoiner but he is also the CEO of a mining cartel. I rather have cypher punks as users than Jihan and pals.
I'm not a UASF supporter but saying that only because it has minority hash power it's not Bitcoin is so wrong on so many levels.
You think hash power is the only thing that makes "Bitcoin" Bitcoin?

25hashcoin is probably a bought account employed by Jihan or Ver, no one should believe anything that shill says. If you check his posts, one day he is 100% pro core and the next 100% pro Jihan, a complete 180 turnaround in a short span with no explanation.

No, but nice try. That's all you Core people can do is accuse people of being shills isn't it? Is it really that unfathomable that real people wan't to actually scale bitcoin with larger blocks how it was intended? Yes, I used to be a pro Core sheep and didn't know any better but I realized I have been duped. Here's some great reading material for anyone who isn't sure whether or not they are acting in bitcoins best interests: https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0

A "real" person cannot possible believe the shit you post. You shills really should at least make an effort to not sound like shills, then maybe people might think you are a real person and not some bought, employed, mouth-piece for Jihan and his conspirators.

I really don't see how you can possibly even think that. The majority in this space seem to side with big blockers. It seems you may be a victim of censorship and echochambers if you really think that way. I have the same reaction to posts like yours just now. Hard to believe people are really that brainwashed.

[gentlemand]

I just noticed the selfish mining and premine part as well.

I'm starting to believe this is some sort of performance art piece now.

[FiendCoin]

You're saying Jihan and the many big blockers aren't actual bitcoiners? Sounds like an emotional thing to say. And to answer your question, maybe it won't be centralized, but it definitely won't be bitcoin with minority hash power. Don't fall for the lies. We will soon have a superior bitcoin with large blocks and we may also have a Core/Segwit altcoin. Ignore false narratives that try and flip this.

Jihan might be a bitoiner but he is also the CEO of a mining cartel. I rather have cypher punks as users than Jihan and pals.
I'm not a UASF supporter but saying that only because it has minority hash power it's not Bitcoin is so wrong on so many levels.
You think hash power is the only thing that makes "Bitcoin" Bitcoin?

25hashcoin is probably a bought account employed by Jihan or Ver, no one should believe anything that shill says. If you check his posts, one day he is 100% pro core and the next 100% pro Jihan, a complete 180 turnaround in a short span with no explanation.

No, but nice try. That's all you Core people can do is accuse people of being shills isn't it? Is it really that unfathomable that real people wan't to actually scale bitcoin with larger blocks how it was intended? Yes, I used to be a pro Core sheep and didn't know any better but I realized I have been duped. Here's some great reading material for anyone who isn't sure whether or not they are acting in bitcoins best interests: https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0

A "real" person cannot possible believe the shit you post. You shills really should at least make an effort to not sound like shills, then maybe people might think you are a real person and not some bought, employed, mouth-piece for Jihan and his conspirators.

I really don't see how you can possibly even think that. The majority in this space seem to side with big blockers. It seems you may be a victim of censorship and echochambers if you really think that way. I have the same reaction to posts like yours just now. Hard to believe people are really that brainwashed.

Most people here are not big blockers, what forum you been reading (oh right, r/btc)? Most people do want a capacity increase but they want it done safely and not by Jihan Wu, BU or their shitty development team. Since you seem to be living in your own "echochamber" as you /r/btc shills like to say, most people here do not trust Jihan and his people have Bitcoin's best interests at heart, and for good reason.

[mindrust]

I just noticed the selfish mining and premine part as well.

I'm starting to believe this is some sort of performance art piece now.

You can't expect them to be honest/fair.

Bitmain is a company, a company is an centralized entity.

They have no other way but to have control over their product.

Bitmain is trying to be a central bank. Let them have it.

[XbladeX]

I just noticed the selfish mining and premine part as well.

I'm starting to believe this is some sort of performance art piece now.

nice shot with that extra premine NICE he is god he will mine it with all asic boost miners ...
He doens give fuck ? Trash asicboost miner ? no mine BU altcoin and get some cash + add some premine Genius.
He will HF to self defence aiscboost tech ^^

[XbladeX]

***

n is a company, a company is an centralized entity.

They have no other way but to have control over their product.

Bitmain is trying to be a central bank. Let them have it.

Centralized + prmined ? hmm we are going to see Etherum 2.0 nice

[25hashcoin]

You're saying Jihan and the many big blockers aren't actual bitcoiners? Sounds like an emotional thing to say. And to answer your question, maybe it won't be centralized, but it definitely won't be bitcoin with minority hash power. Don't fall for the lies. We will soon have a superior bitcoin with large blocks and we may also have a Core/Segwit altcoin. Ignore false narratives that try and flip this.

Jihan might be a bitoiner but he is also the CEO of a mining cartel. I rather have cypher punks as users than Jihan and pals.
I'm not a UASF supporter but saying that only because it has minority hash power it's not Bitcoin is so wrong on so many levels.
You think hash power is the only thing that makes "Bitcoin" Bitcoin?

25hashcoin is probably a bought account employed by Jihan or Ver, no one should believe anything that shill says. If you check his posts, one day he is 100% pro core and the next 100% pro Jihan, a complete 180 turnaround in a short span with no explanation.

No, but nice try. That's all you Core people can do is accuse people of being shills isn't it? Is it really that unfathomable that real people wan't to actually scale bitcoin with larger blocks how it was intended? Yes, I used to be a pro Core sheep and didn't know any better but I realized I have been duped. Here's some great reading material for anyone who isn't sure whether or not they are acting in bitcoins best interests: https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0

A "real" person cannot possible believe the shit you post. You shills really should at least make an effort to not sound like shills, then maybe people might think you are a real person and not some bought, employed, mouth-piece for Jihan and his conspirators.

I really don't see how you can possibly even think that. The majority in this space seem to side with big blockers. It seems you may be a victim of censorship and echochambers if you really think that way. I have the same reaction to posts like yours just now. Hard to believe people are really that brainwashed.

Most people here are not big blockers, what forum you been reading (oh right, r/btc)? Most people do want a capacity increase but they want it done safely and not by Jihan Wu, BU or their shitty development team. Since you seem to be living in your own "echochamber" as you /r/btc shills like to say, most people here do not trust Jihan and his people have Bitcoin's best interests at heart, and for good reason.

Thanks for confirming you are, indeed, stuck in controlled echochambers and haven't the ability to consider what other sides have to say without bias.

[Lutpin]

Thanks for confirming you are, indeed, stuck in controlled echochambers and haven't the ability to consider what other sides have to say without bias.

I'm waiting for what you "have to say without bias".

For now they are bitcoiners but it won't last long. Soon they will be shitcoiners after their hardfork

Explain to me how uasf will be bitcoin with a minority hashpower but this hard fork would be an altcoin with a majority hashpower and majority of the ecosystem backing it? You have it completely backwards. There's bitcoin, and then there's Core trying to desperately keep their grasps on bitcoin with uasf.

How about you explain to us how this "uahf" will be bitcoin after bitmain mined it privately for 72 hours?
How can you accept any chain as bitcoin that has a 432 block part being mined in private?
Sounds like bit(main)coin to me.

[1Referee]

I don't see anything significantly bad here, let them seperate away from us if they so wish, and they'll soon notice that it was likely the worst decision they ever made. It's top notch greed, but it will cost them dearly, that is almost a guarantee. But then again, I am sure that this is just the regular barking dog behavior - big talks at start, where later nothing happens at all.

[pawel7777]

For now they are bitcoiners but it won't last long. Soon they will be shitcoiners after their hardfork

Explain to me how uasf will be bitcoin with a minority hashpower but this hard fork would be an altcoin with a majority hashpower and majority of the ecosystem backing it? You have it completely backwards. There's bitcoin, and then there's Core trying to desperately keep their grasps on bitcoin with uasf.

How about you explain to us how this "uahf" will be bitcoin after bitmain mined it privately for 72 hours?
How can you accept any chain as bitcoin that has a 432 block part being mined in private?
Sounds like bit(main)coin to me.

However fucked up UAHF proposal is, the UASF with minority of hashpower is still an altcoin. Period.

[talkbitcoin]

am i reading this right! bitmain is essentially saying the rest of the hashrate is going to bee boobs while they mine (their version of) bitcoin for 72 hours = 432 block = 5400BTC and then expect others to build on top of it?!!

[freebutcaged]

Bullshit, that's a bluff and he's trying to intimidate other miners, the fact that he has the balls to say something like that shows how centralized

His operations are, there is no consensus in doing what he is trying to do, no one is in support of splitting Bitcoin in half and only a stubborn and

Hostile party would attempt such a thing. maybe he wants to have a coin like ETC for himself, and now look at the difference between ETH/ETC.