Post
Topic
Board Speculation
Re: Will BCH kill BTCSegWit while reinstating BTCSatoshi?
by
CoinHoarder
on 19/10/2017, 22:27:56 UTC
@mint

Ironically, most "truthers" get angsty when I start question their theories. Isn't that the point of being a truther... questioning what you've learned about everything everywhere?

I am saying that potentially you are wrong about who created Bitcoin. There have been so many different people that have been called Satoshi Nakamoto before, with all sorts of proof in each case. Now you think you've solved it? Think about how crazy you sound to the old timers that have heard the "Satoshi Was Found" story 100 times by now. You do appear to have some proof, but as far as I can tell, you and I both will most likely never know who Satoshi was. There is not a way to prove you wrong, just as there is not any way to prove that you aren't wrong. So please stop asking me to do so. Maybe you are right? I can't prove either way...

Same with the purported Segwit attack by the miners... that's way out in left field too. There is no way to definitively prove it right or wrong. I think it is more unlikely than the first theory, due to the amount of risk mounting an attack on Bitcoin Segwit/2x will have for the attackers, yet I still admit that it is possible. However, you claim Litecoin and Bitcoin Cash are safe havens if such an event were to occur, but I have deduced the opposite.

There will be many thousands of very angry people (real people, regular joe blows...) that got screwed, because a lot of people own only Segwit/Segwit2x tokens. I can imagine the "Bitcoin Was A Scam" news headlines scaring investors away from the crypto market in general, but even more so with Bitcoin and Bitcoin Cash. Litecoin has Segwit too, so it's susceptible to the attack they already did on Bitcoin, and is owned by Zihan's gang too. Why would the "sheep" in your scenario flock to Bitcoin Cash or Litecoin? To give more money in transaction fees etc. to the same mining cartel that stole your money in the Segwit attack? To pump the value of the guilty whales tokens? No, just no... all you have to do is let the other "sheep" know what happened. People are a little smarter than sheep brah. Just saying...

IMO, SHA256 (and possibly Scrypt) as a hashing method is done as far as I'm concerned if this attack goes down, and so is any cryptocurrency that uses it. If this attack happens, then I will sell every single SHA256 token I have, and I will spend a very long time trying to convince people of that being the only way to punish the thugs that attacked Bitcoin. Let the bag holder's (miners/whales) be stuck with useless and valueless bags (usless mining hardware or effectively valueless tokens).

Hopefully, we as a community can set precedence for such an event in PoW cryptocyrrencies... If someone amassed enough hash power to attack a certain hashing algorithm, then as punishment the cryptocurrencies using such hashing algorithm are sold off, never used again, and campaigned against. A true show of force from the community could prevent future similar attacks from rogue miners and whales. This is the only way in my mind to punish 51% attackers, and I would hope most people in the community will back me up.

I don't think that Litecoin would benefit as much as other cryptocurrencies, because Zihan and his gang are balls deep in Litecoin mining too. Bitcoin Cash is supported and owned by the same thugs that attacked Bitcoin too. Why would the speculators (aka. "sheep") flock there? I will not support any cryptocurrency in which its miners blatantly attack other cryptocurrencies, and I am sure many will support me here.

I think the biggest benefactors of such an event will be different forms of PoS, PoW cryptocurrencies that utilize a different hashing algorithm, and cryptocurrencies that had nothing to do with the attack. Ethereum, Ripple, Monero, etc... (all other let's say... top 50 alternative cryptocurrencies) would perform better post-attack, because community confidence in Bitcoin/Bitcoin Cash/Litecoin will be shattered.

You don't want to anger the sheep herd, as they may just kill you to death with their cuteness! Oh... and they will make sure that the other sheep know Bitcoin/Bitcoin Cash/Litecoin is a scam! You already have The sheep where you want them, why anger them uneccesarily and cause a potentially devastating amount of blowback? The social media pitchfork mafia will never rest.

I think that in this post I have elaborated on different dynamics of what I have termed Social Consensus in prior posts/bligs, and how I think it should ideally play out.