Gold collapsing. Bitcoin UP.

[79b79aa8]

i can see plainly before my eyes, that while BCH devs mindboggingly wrangle around the issue of whether to hardcode signing over a percentage of the coinbase to select individuals, BSV devs make progress on novel types of transactions, scripts, advanced wallet features, tokenization, and applications. on the economic front, while scattered BCH users seek to onboard merchants, well-funded BSV businesses seek to provide corporations with blockchain solutions. while BCH-ABC's development roadmap is straight out of 2016 (priorities: adaptive blocksize and fractional satoshis, but only when there is time and funding), and BCH-BU et al's focus is to oust ABC ---with the roadmap TBD--, BSV has completed its roadmap and has moved on to onboarding businesses.

BU officials (@solex @theZerg @Peter R) clearly don't want to use this channel to communicate, there is too much apostasy in the air. i just don't see them using any other channel that allows for open and clear discussion. this is a request to please update the membership on your activities and plans.

 

[79b79aa8]

BTW, @Norway was right about not needing new OPcodes to incorporate oracle data into transactions -- it can be done using original bitcoin script.


i'd say devs should be focusing on scripts that solve use cases today, not on tinkering with the protocol with the aim to have a useable product in the future.

 

[79b79aa8]

BU's position on the IFP (BCH miner tax).

problem:

Even in the scenario where the IFP Tax is defeated, it is very possible that the status quo is maintained and that the BCH ecosystem continues to face the problems that centralised development causes.

proposed solution:

BCH miners, pools, businesses, and users must run and support many different clients, including BCH Unlimited, BCHN, Bitcoin Verde, BCHD, Knuth and more.

problems with proposed solution: it is not aligned with players' economic incentives, and therefore is not likely to occur.

not envisaged: putting an end to base protocol changes -- of course, that would mean scaling down developer ambitions, and changing the very role of BU.

 

[bitsko]

Dear BU leaders; wanna just try and make contracts with BSV script instead of whatever it is youre doing?

Thanks,

Bitsko

 

[79b79aa8]

Dear BU leaders; wanna just try and make contracts with BSV bitcoin script instead of whatever it is youre doing?

FTFY

 

[Norway]

Are you a leader if you don't lead?

 

[79b79aa8]

BU is in the following predicament: it has committed by BUIP to (1) only develop for BCH; while simultaneously (2) fork from BCH if IFP passes.

but IFP might just pass, marooning BU. in addition, BU has no gumption to take on a chain of its own. all of which means BU is poised to drive itself out of bitcoin.

if IFP does pass, we would be witnessing, for the second time, the controllers of the reference implementation of a coin, in concert with the miners, make some supremely ill-advised changes to the protocol. in both cases, the probability of long-term economic success of the strategy seems minuscule. hopefully reason prevails this time.

and what would happen to BU? it would have to reinvent itself. one would think it would be the time for elected officials to step down. the BUIPS had their full support, formed the basis of their actions, and are heading towards stalemate.

 

[Norway]

Where do you get all this information @79b79aa8 ?

I was kicked out of the BU slack by @Peter R because a secret person complained about me. I don't know who that person was, but @Peter R does know who he is. It's either a person @Peter R takes orders from, or himself.

I have seen several big blocks communication platforms come and go. They usually collaps because they are allways corrupted by the moderator model and the political implications.

That's why I ask, @79b79aa8. Where is the BCH dialogue happening today?

And

When AND how is this IFP passing or not? I love to watch trainwrecks in slow motion, and I just want a seat as close as possible. I'll bring my own popcorn.

 

[79b79aa8]

i posted this link in a message above. that is all i got. i am still in the BU slack but there is not much discussion there; it's mostly shop.

r/btc is noobsville.

@freetrader started a slack for his own BCH node project (BCHN) but i could not join.

the IFP is coded into ABC's May 15 BCH protocol "upgrade". unless hash majority stops running ABC, it gets baked in.

meanwhile BTC halves on or around May 12.

we might soon start seeing price fluctuation across all bitcoin branches.

 

[Norway]

Thanks @79b79aa8.

This article:

Choices & Potential Outcomes For the BCH Ecosystem

read.cash

This article could have been written by anyone.

It pretends to be from a brand/logo, but it's been written by an anonymous person.

I have seen the same shit on Twitter. There is a Twitter account pretending to be a logo and an organisation. The organisation Shitcoin Unlimited (BU).

I, myself, have voted for Andrew Clifford (@solex). As a public person. Not a bloody moniker.

BU wasn't supposed to become a secret organisation.

There is no way for BU to go from a public organisation to a secret organisation. It's the worst opsec ever!

We all know the identities of the elected officers and the fact that Peter Rizun, Andrew Clifford and Andrew Stone have controlled the keys to the donated funds.

We have also seen how the napkin financial reports from Peter Rizun stopped two years ago.

My theory: There is NO accounting in BU. None. Just human memories. And immutable traces on BTC, BCH and BSV ...

This is not something you can hide from when your identity is known.

Pay the tax or go to jail. It was never your private money in the first place.

 

[79b79aa8]

disclosure with regards to anonymity: i have never revealed my IRL identity, because i have never sought protagonism or even recognition in this space. i became a member of BU under the implicit structure that the devs would rely for major decisions on a sort of advisory board to shield themselves and avoid the sort of arbitrariness we saw with core. but such a loose structure, besides being gameable, is no longer fruitful -- IMO BU needs to incorporate in some jurisdiction and become a blockchain business. the dream of playing satoshi, of steering the protocol and creating a new monetary system, is over. experience indicates we would not have known how to do it anyway.

in order to turn BU into an above-board operation, a first step is for members to be public. this is why i support BUIP141.

but it is not as if under the current structure BU exists outside the law. it is a de facto partnership with legal and fiscal responsibilities. officials and members are liable. if i am to disclose my identity and remain a member, it would have to be under a sound legal structure. @solex has indicated there has been an attempt to create such a structure that has run into severe difficulties, but no details have been offered. it is a mystery why the attempt and the difficulties have not been communicated to members over such an ample time period.

 

[cypherdoc]

the chain splitter is alive and well. "let a thousand chains bloom":

 

[79b79aa8]

wait, that's not fair. the BCHN client does not split from the chain if IFP passes. the BU-BCH client does.

 

[Norway]

Shitcoin Unlimited (BU) organized the Arnhem conference, famous for Craig's first talk.

Shitcoin Unlimited (BU) also organized a Tokyo conference later. And I think Craig's talk here is even better.

Post automatically merged: Apr 25, 2020

@Peter R showing that he doesn't understand the economic incentives in bitcoin. At all:

 

[79b79aa8]

. . . meanwhile IFP supporters (or purported supporters) are out in force . . . BCH unraveling from within and without

 

[79b79aa8]

 

[Norway]

BU members are rock stars ...

 

[BldSwtTrs]

I am more and more convinced that we are on the verge of the next massive crypto bull run.

I think there is a rather high probability that BTC will test its ATH ($20k) this summer. And then, in late 2020 or early 2021, it will break it and go to $200k. I think there will be an alt season once BTC broke its ATH. During this alt season, BSV will overperform most altcoins. However, I don't think BSV will surpass BTC during this run. I see BSV ending in the top 3 market cap, while still being trash talked by most of the crypo-community. I think the flippening BSV>BTC will happen in the aftermaths of the following halving in 2024

Network congestion and exponential fees will be a probable halting factor of the bull run. But that won't prevent the bull run from happening. It will be a reminder for market participants that BTC is still dyfunctional, and hence making them look at BSV more seriously. But this process will take time. The market has still a lot of learning to do before understanding the limitations of BTC, it needs to see one more time network congestion and exponential fees in order to realize the problems haven't gone away.

At the moment people still believe in chimeras such as Lightning Network and Liquid. To the big block theory, they oppose their second layer theory. For now it's mostly theoretical. These are complicated topics, and since most people are not very smart, few are able to discriminate the good theory from the bad. So they need to see that the small block theory is not working in practice. That will make them realize that screaming "Ligthning" and "Liquid" will not work during 4 more years

 

[AdrianX]

I do think we live in extraordinary times, but I dont think 200K is in the cards. I will say the BTC market is looking very bullish.

And BCH fundamentalists are looking very salty.

 

[79b79aa8]

I dont think 200K is in the cards. I will say the BTC market is looking very bullish.

the only thing BTC has achieved since the last bubble that would warrant a new one, is to halve again. no lightning for low fee txns, no new use cases. liquid is a piece software doing a job, like any other piece of production software. BTC itself is maxed out. no enterprise blockchain application considers running on BTC.

people who did not make money in 2017 are running up a fever and hoping to cash in on what they conceive as a little secret (all previous halvings -- two -- followed by bubbles). but the future will not necessarily be like the past, especially when the background has changed vastly. i don't see tens of billions of dollars flooding the BTC market just to get stationed. i see thinly veiled pumping, and a crash course with reality.