Post
Topic
Board Bitcoin Discussion
Re: What is UASF exactly?
by
iamnotback
on 27/03/2017, 13:22:11 UTC
You guys seem to think the UASF is controlled by the hashrate of the system, but I think I've argued quite convincingly else where, that sufficiently organized whales are superior and are the actual economic majority.


BIP148 UASF will be determined by 1 thing alone, midnight of November 15th 2017.  Nothing to do with hashrate (you're right there) and nothing to do with whales (where you're wrong)

Please don't reply, you're a waste of time and space

Carlton you're a moronmisinformed.

Nodes don't control the outcome, only hashrate does. Well actually the economic majority does. And the sufficiently organized whales are superior when it comes to a hashrate war (this was explained in great detail in the discussion between @dinofelis and myself in the other thread).

The nodes that refuse to mine on the longest-chain will waste their hashrate and bankrupt themselves.

UASF is clearly an effort to re-define what Bitcoin is.

Only the whales (if sufficiently organized) will decide which protocol goes up in price and which one goes to 0.

If the whales are not united, then maybe BIP148 will have some relevancy but it is a power vacuum of democracy thus it will be manipulated or we will have chaos.

We are trying to end voting and democracy, because they don't work. Instead idealistically we want a meritocracy where nobody has control (not even the economic majority), but it is not known if that is feasible (most believe it is not). Satoshi's PoW is flawed and that is why it is devolving like this.