Post
Topic
Board Bitcoin Discussion
Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
VeritasSapere
on 20/09/2015, 03:49:58 UTC
Really?  The problem is overgeneralising on abstracts, instead of the realistic truth that Hearn has for years proposed ideas that are a risk to Bitcoin.  What pro-XT posters have proven is how easy it is for people to believe in a person and his fork who is so potentially destructive to Bitcoin.  

The problem with idealism in abstracts is it doesn't predict tyrants.  I'd bet if XT garnered 75% of nodes, you'd see the one of two possible scenarios:

Scenario #1

1> Bitcoin becomes centralized (the protocol) via trusted nodes.
2> Bitcoin uses checkpoints to prevent another hostile takeover like its own.
3> Bitcoin replaces anonymity with identity requirements (passports).
4> Bitcoin loses fungibility in favor of tainted coins, red lists, black lists, and white lists.  
5> Due to #1-4, it would be hard to use any other implementation.

Scenario #2

Bitcoin self-destructs in the process of scenario #1 being rejected by the masses.

The "benevolent dictator" will become a billionaire in scenario #1.  He has so much to gain in scenario #1, scenario #2 is worth the risk to him.
There is nothing backing up what you are saying here, this is just conjecture.