Post
Topic
Board Speculation
Re: Will bitcoin crash or moon after august/sept implementation
by
deisik
on 09/06/2017, 06:54:37 UTC
UASF activation would prove in practice that full nodes have power over rogue miners once again, and thus the latter can no longer hamper or otherwise hinder Bitcoin development as they have been successfully doing for the last few years. The BIP148 proposal means activation of SegWit without miners' prior consent (or even despite their resistance)

Basically, miners are told to pack their things and go home if they disagree (provided this proposal gets accepted, of course)

Nothing you're saying makes any sense because if you believe there are "rogue miners" or a mining cartel who centrally controls the network, there's obviously no Nash equilibrium and bitcoin has no value in the first place.  One does not simply remove power from the miners without also proclaiming bitcoin a failure at the same time.  You're also claiming a centralized development team should have full control over the chain as well and that the economic incentives that are supposed to make bitcoin work don't work

You may want to explain yourself

If you think that nothing of what I'm saying makes sense just because I believe that miners are rogue (they are selfish brutes, anyway), then you will have hard time defending your stance, i.e. proving your point for real (and no references to Nash, Nash equilibrium, and other buzz words will help you in that). Further, I said nothing (this is where it actually comes down to nothing) about Bitcoin centralization around developers. BIP148 proposal itself is about giving power (back) to the economic majority. I can't possibly see what that has to do with developers as such (unless they are the economic majority, of course)