Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
sAt0sHiFanClub
on 20/01/2016, 23:15:41 UTC

You suggest that the chain with 25% hash power is in the economic minority which is just flatly inaccurate. The sunk costs in previous generations of ASICs aren't worth much more than a doorstop with a flood of new money buying the latest generation of ASICs. 75% of Miners are not necessarily the economic majority. What is interesting about this attack is even if 95%+miners temporarily support the new coin (I.E.. Bitcoin classic) and every exchange supports bitcoin classic and refuses to accept bitcoin core coins, the attack can come unannounced as the ASIC manufactures can have a shell company or investors buy them out and use their own coin to simultaneously dump the price and gain a majority of the hashpower. To those that oppose a coup, they wouldn't even see this as underhanded but protecting the interests of the ecosystem and increasing the hash power.


Sorry, I respect your beliefs and all, but that is just getting plain ridiculous, desperate and implausible.
 Have a look at this and you will see there is nearly 90% consensus for 2mb blocks at this moment. Add to that all the exchanges that have stated they will follow the majority ( not a given that its classic)

You have an extremely difficult battle with just 10% of hashing power and sky high difficulty. And for what? What will you gain with your shell companies and other whatnots you mentioned?

When it comes to it, you, and all the others will be as pragmatic as anyone else in the network. You will protect the value of your coins. You will fork.

Because its in your interest*.






*unless you are an investor in Blockstream