Quote from: Hyperme.sh on November 06, 2017, 07:48:22 PM

Re: Will Bitcoin Cash replace BTC after the Fork?

Quote from: mjglqw on November 02, 2017, 05:04:23 PM

In my opinion it's very unlikely that BitcoinCash(BCH) will kick out Bitcoin(BTC) out of the first spot. Theoretically possible, but very unlikely. Even so, if BitcoinCash(BCH) were to beat Bitcoin(BTC), I'm sure it wouldn't happen after the Segwit2x fork. It would take lots of lots of years of convincing people to use BitcoinCash(BCH).

There is a scenario where SegWit (1x and 2x both) entirely dies and BTC (Satoshis protocol) is restored:

Quote from: Hyperme.sh on November 06, 2017, 12:17:48 PM

The entire fucking point of the game theory of Bitcoin is to be immutable and remove governance. Now we await to see if the SegWit pay to anyone booty will be stolen with a long-range chain attack restoring the immutability of Bitcoin, or if the game theory failed.

Click the link in the quote above for more details.

The question is would BCH with 8MB blocks be the version of Satoshis protocol (i.e. no Core BIPs) restored, or would it be the one with 1MB blocks.

The entire point is that if you want to improve Bitcoin, then make an airdrop with replay protection and let the market decide. That is a decentralized paradigm. Do not hijack Satoshis protocol as some privileged centralized tyranny and try to force it to disappear as Core did.

That is why I was screaming to buy BCH at $300. And everybody looked at me like I was a kook and looney, same as when I was screaming to buy LTC at $6.

Quote from: rpg on November 03, 2017, 06:43:15 AM

BTC is king forever and there is no place to another king.

BTC is Satoshis protocol. SegWit is a pay to anyone insecure altcoin.

Quote from: Hyperme.sh on November 06, 2017, 07:54:05 PM

Quote from: otunayode on November 06, 2017, 07:52:41 PM

Bitcoin cash will not replace bitcoin. We can speculate all we want but we all know that bitcoin has taken root downward and it will be impossible to undone all bitcoin has achieved over the year!

See my prior post. You are not factoring in the eventual $billions of SegWit booty available to miners who revert BTC to Satoshis protocol.

Money talks. UAHF bullshit walks. Whales understand that if we allow Core or anyone to mutate Bitcoin without a decentralized market process, then Bitcoin will be just another altcoin.

Sorry I think you are dead wrong. And you will lose all you BTC to theft by the miners because you are not paying attention.

Quote

trying to understand the segwit theft - bitcoin is so centralized that if a chain reorg would happen core team / blockstream would tell all exchanges and large operators to stop trading and issue a patch that would have "official" block hashes of the last known "good chain" (think they are called snapshots), this would undo the thefts right? and cause massive losses to the mining cartel that has mined a long chain for nothing

1. The miners may have been sending BTC to exchanges to sell it, so they could possibly double-spend this BTC with the long-range chain reorganization and bankrupt the exchanges who attempt to fight the miners. Thus exchanges who want to survive will honor that the protocol is the law and not the centralized tyranny of Core-is-the-law. Miners can offer to share this loot taken from defecting exchanges, with other key players.

2. I presume millions of BTC whales understand that if centralized tyranny is the law, then Bitcoin is worthless as any other shitcoin. Thus whales will fully support the SegWit theft. We will probably get SegWit on Litecoin for offchain scaling and big blocks on BCH for onchain scaling, although neither of those will totally scale. Bitcoin will remain the immutable one-world reserve currency for whales that it was designed to be.

Bottom line is that the SegWit pay to anyone loot is an eventual $billions fundraising to pay for the immutability enforcement of Bitcoin.

Whoever created Bitcoin was a genius and had thought carefully the game theory.