Let’s beat that dead horse one more time. What will be the next Bitcoin drama coming from Jihan and Bitmain if and when UASF succeeds or even if SegWit and the Lightning Network are implemented?
Do you really think that they will simply give up and forfeit after that?
Spoiler: They won’t.
Let’s not fool ourselves, the only real long term solution is a change of PoW. Anything else is like putting a plaster on a gaping infected wound.
So why are we even losing time and spending so much energy going down that path?
The end goal for Jihan and Bitmain is total and absolute control of the Bitcoin ecosystem and looking at how things are going right now, they probably are fine with destroying it all just to make a point and win the war. They don't give a fuck about you and I, it's all about profit. They don't give a rat's ass about Cypherpunk ideologies and principles.
They aren't here to change the world, they are here to make money.
That's it that's all.
I don’t personally think that they are bluffing. I think that their strategy is manifold. If Bitcoin dies, they don’t care, they will just switch to alts.
The people that will suffer are the ones that bought their hardware and the Bitcoin users that have invested billions in it.
Jihan and Bitmain controls the market, they have cornered it, and we have allowed them to control it because we have been complacent for too long. Today we all pay the price for this and it will get much worse next month.
Think MTGOXT was bad? Watch and see what happens in the next couple of weeks, it will be brutal and Bitcoin might never recover from it. The message that it sends to the world is that anything can happen at any moment if some people with a lot of money decide that they want to fuck it all, there’s no hope for stability, ever.
It's the very antithesis of what true decentralization means. Allowing the 1% to control it all.
That is, as long as we allow some people with shady agendas to control the majority of the hash rate.
NVIDIA and AMD recently announced that they are interested in the mining market and that they might produce specialized chipset to target it.
“PC gaming GPU giants Nvidia and AMD are lining up cheaper, stripped-down crypto-specific graphics cards in the face of overwhelming demand led by Bitcoin & Ethereum miners.”
Now who would you trust more?
Jihan the immature "fuck your mother if you want fuck" opportunist clown that studied “psychology” and Bitmain with their current monopoly and shady agenda? Or publicly traded companies such as AMD and NVIDIA?
I personally would put my money on these two well-known and respected companies, because we know that they aren’t controlled by any governments (tinfoil hat on: they might be who knows, but at least for now I don’t think they are). They are just doing business and they have served the gaming market for years.
Many other cryptos have changed the PoW and some are also transitioning to PoS. As much as we like to think that Bitcoin is king and that these other coins aren’t the real deal, at least the ecosystem of these alt coins is free from all this bullshit miner-related drama that we are currently witnessing in the Bitcoin sphere. The current situation is toxic and untenable and will end in the ultimate downfall of Bitcoin.
I really don’t understand why Bitcoin Core is putting up with all this bullshit. I sure do not want any of this drama.
There is an easy, albeit not without risk I will admit, way to get rid of these clowns once and for all.
The solution is to change the PoW.
Why don’t we do it, and be free forever from all these negative influencers?
The transition might be painful, but I honestly believe that it is the only true long term solution.