[Poll] Will you use Jihancoin?

[Denker]

No of course I would not use his chain. I would dump my stash of Jihancoins and that's it.
If he could destroy or harm legitimate Bitcoin that much so it wouldn't have any serious amount of users and monetary value anymore I would probably leave the crypto space as it would be a failed experimnet imo. "Decentralized Blockchains with governance models", premined, mutability etc. will not give us any freedom and sovereignty we were hoping for to get with Bitcoin.

[7jaka7]

Jihan is supporting Segwit? So ''his'' coin would have segwit? And other blockchain wouldn't have it?

Wouldn't he destroy himself too if he would control more then 51% of hashpower? Defenitely it wouldn't work on a long term.
We have tons of other cryptos, which we would choose over ''centralized'' currency.

[Novun]

I will go where the money takes me. Going after profits is the same thing as following the wishes of the community. The more people invest the higher the price of a given instrument. The only way to loose money is to miscalculate the wishes of the community and invest in a bad cryptocurrency.
I don't care for drama. The community will choose the best option, the rest doesn't matter.

[singularityisnear]

I don't think miners have that much control over the code. Devs can propose a POW change at worst. And you follow the brains no matter what

[Netnox]

I am going to hold both Jihancoin and Bitcoin. I am ideologically opposed to Jihancoin, but the chances are that there is going to be a huge pump with that coin during the second half of 2017. In the long-term, I am not sure whether it will survive (the chances are that Bitcoin will win the war), but in the short-term and medium-term, Jihancoin has the potential to give good profits.

[deisik]

Any coin with Jihan in control are doomed to failure. This guy has shown that a little bit of power {hashing power} will go to his head

This is only one part of the equation

Or the other side of Bitcoin if you please. If it were only about Jihancoin to fall through and crack the bell, no one could care less (and I wouldn't start this topic). The main issue is that he might lose his mind completely (he likely already lost it anyway), and drug Bitcoin down with his "project". It should be obvious that if he sees that no one is going to use his coin, he will turn his rage against real Bitcoin. That will be a disaster

[sherlock_h]

I thought jihan had 15% of the total hashrate, and even if other miners followed the lead, the chain split could lead to big financial losses, especially for holders.
If rationality takes place, I don't think they would go that far, since it would lead to loss of confidence.

[EpicFail]

If JihanCoin will make me money in the long run and he can convince me that it would remain decentralized, then sure, I would use it.

As it stands right now, I am not yet convinced.

[deisik]

If JihanCoin will make me money in the long run and he can convince me that it would remain decentralized, then sure, I would use it.

As it stands right now, I am not yet convinced.

Most people don't give a fuck about decentralization

Bitcoin is already centralized beyond any hope as any PoW coin will eventually be (provided it has any value, of course), and how many people stopped using it just because of this? They are going to stay with Bitcoin "no matter what" (as the poll suggests), but they scarcely understand that this genuine Bitcoin is not a lot better than the Bitcoin wannabe Jihancoin. All they care for are either sheer profits ("buy low, sell high") or future financial power which, as some of them strongly believe, Bitcoin would give them when it becomes the next American dollar

[OROBTC]

If JihanCoin will make me money in the long run and he can convince me that it would remain decentralized, then sure, I would use it.

As it stands right now, I am not yet convinced.

Most people don't give a fuck about decentralization

Bitcoin is already centralized beyond any hope as any PoW coin will eventually be (provided it has any value, of course), and how much people stopped using it just because of this? They are going to stay with Bitcoin "no matter what", but they scarcely understand that this genuine Bitcoin is not a lot better than the Bitcoin wannabe Jihancoin. All they care for are either sheer profits ("buy low, sell high") or future financial power which, as some of them strongly believe, it could give them when Bitcoin becomes next American dollar

I voted to get OUT of cryptos.  If Jihan coin causes any issues, then I will just bail, and won't come back until I see some adults running a good crypto.

These guys looking to (or even hinting at) forking BTC deserve a spanking (or kick in the ass).  Just IMO as a guy with "skin in the game" but otherwise do not know enough programming to really KNOW anything.  OK, but we are Legion.

[bitbunnny]

Nope, I will not use it, I'm not interested. I don't see that much potential and that it could become something serious. Generaly, I'm not much interested in altcoins, they are good for trading but otherwise they don't have much use in real life. And now are already too much altcoins at the market, all hoping they will be like Bitcoin one day.

[EpicFail]

If JihanCoin will make me money in the long run and he can convince me that it would remain decentralized, then sure, I would use it.

As it stands right now, I am not yet convinced.

Most people don't give a fuck about decentralization

Bitcoin is already centralized beyond any hope as any PoW coin will eventually be (provided it has any value, of course), and how much people stopped using it just because of this? They are going to stay with Bitcoin "no matter what", but they scarcely understand that this genuine Bitcoin is not a lot better than the Bitcoin wannabe Jihancoin. All they care for are either sheer profits ("buy low, sell high") or future financial power which, as some of them strongly believe, it could give them when Bitcoin becomes next American dollar

As someone who has mined since 2011 and currently still have around 200 TH/s worth of equipment I disagree than PoW mining is more centralized now than it was in 2011 or 2012. I don't know if you remember DeepBit or gighash.io, two "centralized" pools that at different points in time reached approximately 50% of the global hash rate. They are now history. JihanPool is not immune from that.

[deisik]

If JihanCoin will make me money in the long run and he can convince me that it would remain decentralized, then sure, I would use it.

As it stands right now, I am not yet convinced.

Most people don't give a fuck about decentralization

Bitcoin is already centralized beyond any hope as any PoW coin will eventually be (provided it has any value, of course), and how much people stopped using it just because of this? They are going to stay with Bitcoin "no matter what", but they scarcely understand that this genuine Bitcoin is not a lot better than the Bitcoin wannabe Jihancoin. All they care for are either sheer profits ("buy low, sell high") or future financial power which, as some of them strongly believe, it could give them when Bitcoin becomes next American dollar

As someone who has mined since 2011 and currently still have around 200 TH/s worth of equipment I disagree than PoW mining is more centralized now than it was in 2011 or 2012. I don't know if you remember DeepBit or gighash.io, two "centralized" pools that at different points in time reached approximately 50% of the global hash rate. They are now history. JihanPool is not immune from that

I heard about ghash.io and its alleged grabbing of more than 50% of Bitcoin hash power

Right now we see about half a dozen major pools that have over 50% of the global hash rate (Antpool being the biggest at that with almost 20% of hash rate). We don't know if these are real pools or in fact huge mining farms with some random miners joining them. We don't know how really independent they are and whether they are not controlled by the same group of people. But this is irrelevant since just 5-6 pools controlling over 50% of hash rate cannot possibly be considered as proper decentralization by any metric. What we see is properly called an oligopoly or cartel, in this case, mining cartel

[hatshepsut93]

JihainCoin, or any other altcoin derived from an hypothetical Bitcoin hardfork, are dead on arrival. Nobody with money worth mentioning is going to hold their wealth on the non-original blockchain. The only way a hardfork would work is if there was 100% consensus and clearly there isn't. From a technical perspective the segwit2x is the dumbest thing since the rest of takeover attempts (xt, classic, buggy unlimited and now this)

In OP's hypothetical situation, this new chain wins and is the longest. Now the question is, would you risk it all on a losing chain? Would like to see your coins on the older chain being unaccepted by merchants?

It's like asking if you'd keep being on the fork that perceived as "wrong" in both of these cases.

Anyways, this is counter productive talk. Speaking in worst case scenarios is what we don't need at the moment. But it is indeed for for thought...

I don't think that users care what chain is the longest, people (regular users, traders, investors, business operators) only look for developer group, and right now overwhelming majority of bitcoin community supports core. So everything that any other parts will create will be treated as an altcoin. Maybe there will be some very ugly "mining war" against Bitcoin, but it will survive, because support of users is what truly matters.

[gentlemand]

I don't see how Jihancoin could be taken seriously by the rest of the scene.

If it was then I'd get rid of my bitcoins. I'd maybe keep a hand in with certain alts. It would be a signal of BTC's failure for me.

[Mia Wallace]

I am not sure what will happen with bitcoin ,i am here to see the best to happen with bitcoin as i am here in this platform because some genius made these things possible and i want to see the developments in the future too,since the man behind the technology is unknown i really wish he would come forward and give some guidelines ,if Jihan comes with a better solution is there any problem follow him,i just want the best technical upgrade and that is the only thing i am waiting for.

[Variogam]

...
We don't know if these are real pools or in fact huge mining farms with some random miners joining them.
...

Maybe spend a bit time researching what pools are private and what are public. Then you could write something of value, not just dumb speculations.

[Adbitco]

I don't think anyone of us would compromise on anonymity and decentralization. These, among others, are the two very prominent and unique properties bitcoin has and if they are detached from and lacking in any cryptocurrency or altcoins or even bitcoin then I don't think it will be acceptable to anyone but still it would be too early to commit anything. Let's hope for the best.

[darkangel11]

It looks like I'm in the majority. Fuck Jihan!
Is there really a chance for him to make it? I'd say no.

I thought jihan had 15% of the total hashrate, and even if other miners followed the lead, the chain split could lead to big financial losses, especially for holders.
If rationality takes place, I don't think they would go that far, since it would lead to loss of confidence.

That's right. OP is speculating on what would happen if he had some hashpower stacked up, like a hidden army, or made some agreements with miners that are using his hardware around the world. A backdoor allowing him to control all miners produced by his company would be a funny surprise.

[Omega Weapon]

If that happens I will consider bitcoin to have died and will sell all my holdings and move to litecoin, but it will not be long before something like this happens in litecoin and then they try to take over that network as well, if it becomes a game of the cat and the mouse in which I will have to move between blockchains to avoid this process then it s possible I will leave crypto.