Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Oh, i understand Bitcoin very well. Bitcoin relies on a consensus-mechanism called "Proof of Work" and as such it's the miners that effectively decide what happens. You don't like it? OK, but what other consensus-mechanism do you propose? "Proof of Node"? "Proof of Reddit Account"?
You see you are right that Bitcoin means NO backdoor decisions, yes. But then you should also understand that in the Bitcoin ecosystem it's PoW that decides and nothing else.
No. Your understanding of Bitcoin is completely flawed and you need to stop shilling (I do not imply that you are paid; just posting supportive nonsense) for Ver/Bitmain/BU. They are the sole reason for which we are in the state that we find ourselves today. "Miners do not decide what happens". That is not a consensus-mechanism. Any kind of change that is done by a miner, and not backed up by widespread consensus creates an altcoin. Regardless of the hashrate. If Bitmain wants to test the users and developers, then it s possible to go full nuclear and change the algorithm completely. You need to stop worshiping people who have contributed almost nothing to the development of Bitcoin (code wise). You see you are right that Bitcoin means NO backdoor decisions, yes. But then you should also understand that in the Bitcoin ecosystem it's PoW that decides and nothing else.
And who decides if the PoW is valid?
These fools have fatal understanding of Bitcoin, e.g. with things like "the longest chain is Bitcoin" without even understanding what they mean. The longest chain with the most amount of work, following the existing consensus rules is Bitcoin1. If Bitmain forks away themselves, they are creating an altcoin. The same goes for any kind of proof-of-proxy "backdoor agreements".Just bought a BTC. Let's hope I caught the bottom 
I do hope we've hit the bottom.1 - This isn't the full definition of it, but mostly directed at the false understanding that "the longest chain" == Bitcoin regardless of the ruleset.
@monbux: If you need education/consulting, hit me up. I usually don't offer it for free, but I'll make an exception for a member such as yourself.