Unfortunately the readers are ignoring what I am trying to explain to them. Let me try one more time to explain it more explicitly so hopefully their eyes will be opened?
Then, he would dump one million BTC on the exchanges, for $1200 each, which would give him 1.2 billion dollars. This money he would use to pay for a 51% attack on the BTC chain. Since its illegal to dump high volumes without a notice, he is doing this notice right now, believing the decryption will succeed in january 2020. If not, he would use a second deadline by the middle of 2020, when the halving happens. Thats what I understand from his posts.
Craig will only be selling some
BTC to initiate the drop in the exchange price so that there’s less mining resistance to his next move as described below. He will profit on the exchanges with a huge short position and use that to initiate a pump on BSV while the following transpires…
Craig doesn’t need any additional resources to do his mining “attack”. The 3 peta-hash that they already have is sufficient to initiate the SegWit donations defense mechanism that exists on Satoshi?s v0.5.3 immutable protocol. The “attack” (actually a “poison pill” defense mechanism planted in the game theory by Satoshi) will cost them nothing and in fact generate massive profits. It will destroy the altcoin named “Bitco[
i]n Core” and only Satoshi’s immutable protocol Bitcoin (aka “real Bitcoin” which is not BSV) will survive. I have been explaining this for the past two years.
Did you read the Steemit post that was linked in the following quoted comment from upthread, which explains this is more detail?[…]
This is the posited SegWit donations attack, with the booty piling up high in time for May 2020:
https://steemit.com/bitcoin/@anonymint/ps965cYou’re ostensibly misinterpreting what his statement means. Craig is ostensibly referring to the real Satoshi v0.5.3 protocol BTC network that will have forced the Core protocol to fork off. He means 51+% of the hashrate that was on Core’s protocol will have switched (i.e. it will not be only Craig’s hashrate given that many miners will want partake in the donations booty).
He is pointing out that until all the SegWit donations are taken (since only so many can fit into a block), the real BTC miners will not be accepting other transactions […]
[…] the best solution would be to do a hard fork, locking Satoshi addresses in the forked version as soon as CSW started moving the coins stored there. This should be done before these coins hit the exchanges, and the exchanges would need to change to the forked version too. In this way, the disaster could be prevented.
The devs would need to devise some backup plan for it […]
The exchanges that are following Core’s protocol rules are going to be on the Core fork after the initiation (possibly by Craig) of the said “defense mechanism” (that Satoshi wisely put in his game theory to prevent attempts to modify the protocol). Blockstream was funded to fool you, so the powers-that-be can take the
BTC from snowflakes who think that “social consensus” is meaningful. I suggest reading the following on why snowflakes are destined to lose all their “talents” (i.e. money):
https://steemit.com/religion/@anonymint/ethics-of-religion-money-and-bitcoin(the above is a technological and philosophical document, not just theological)
Therefore the exchanges are going to be on a fork that has a cratered hashrate and thus the duration between blocks will increase so much that congestion of the mempool will be so bad that nearly nothing will be moving on the Core chain. So nothing will be coming in or out of the exchanges until difficulty can readjust and it will take so many weeks or months (or perhaps never) for that difficulty adjustment to be reached because the chain will suddenly slow down so much.
Additionally all those who had stored their
BTC in Core addresses that begin with a
3 instead of Satoshi’s legacy addresses with a
1 will lose their real
BTC. They will only end up bagholding worthless Core fork tokens. And if they have any tokens on exchanges, they will lose all of them because this event is going to bankrupt all exchanges which are following the Core protocol. Isn’t that all of them?
The miners who join Craig in mining Satoshi’s v0.5.3 protocol (which had up until that point been
implicitly running alongside of Core, before Core is forced to fork off when the miners start taking the SegWit donations) will receive as donations as many SegWit addresses
BTC as they can fit into each block. These are donations because Satoshi’s protocol sees the Core addresses as “pay to anyone” (aka “anyone can spend”). Of course the Core protocol will fork off, but mining Satoshi’s protocol will be so much more profitable.
So Craig will be amassing his share of real BTC from these SegWit donations, along will all the other miners that join in the party to get their share. Very, very profitable.
Meanwhile:
"We're going to 51% attack Bitcoin and pump BSV with the Satoshi coins.....better dump your BTC and buy BSV before it's too late!"
Indeed while all the snowflakes will be buying BSV thinking that is the savior from this “attack”, Craig will be ostensibly selling BSV at the peak stupidity of greater fools, and buying the real BTC. I presume what he will do is sell BSV for Tether then later use the Tether to buy real
BTC once everything stabilizes and new exchanges are created (or extant exchanges that survive do a split) that honor Satoshi?s protocol instead of Core.
So everyone who is hodling their
BTC in legacy addresses that begin with
1 (and if not on an exchange) are
not going to lose their real
BTC and also receive a
free airdrop of Core shitcoins. So how to sell those Core shitcoins? The problem is the exchange won’t split your
BTC into Core and Satoshi protocols fast enough.
Craig will ostensibly split his
BTC before loading them on the exchange, so that he is only selling Core shitcoins on the exchange. He can split them by spending them to Core addresses while also double-spending them on a private Satoshi protocol chain that mixes them with some newly mined
BTC on that private chain. That private chain will become the new Satoshi chain. IOW, he will rollback the chain slightly (maybe a few days at most). Yet I presume he will be putting all legacy address transactions in those private blocks, so those who are not transacting with SegWit will not experience any rollback.
To split our
BTC, we need to get some
BTC from a new block on that Satoshi chain. But the problem is we then can?t get our Core shitcoins loaded into the exchange because the Core chain will slow down so much. So I guess all we can do if we are not joined with Craig in his inner circle, is hodl the
free airdrop (in addition to our real
BTC) Core shitcoins and prepare to sell those shitcoins later if ever the Core chain difficulty readjusts. Anyone have any other ideas?
You apparently stopped using reality as your benchmark.
Here follows a more detailed interpretation of Craig’s recent blather:
https://steemit.com/bitcoin/@anonymint/psg83p
