Anddddd yet another Bitcoin fork
Named Satoshi's Vision.
It forks off from Bitcoin Cash BCH and is business controled.
BTCSV?
With the one and only original Bitcoin Cash, BCH, developer being set aside already, the company nChain, of mister C. Wright, has taken over full central control. With the financial sponsering of BCH mining pool, CoinGeek, fully supporting the concept of a business controlled version of Bitcoin. It is a bit ironic, to state the least, I think, that what the original Bitcoin, BTC, developement team has been, wrongly, accussed of nChain and CoinGeek are actually doing themselves...!?
Well, to me this is just something that BCH has been all along, the business controled version of Bitcoin. And now the combined power of CoinGeek and nChain have announced their planned mutiny. Are you confused? Okay, there is the original Bitcoin, BTC, innovating and still most valuable, mined at 50(!) Exahashes per second.
Then came the gamble business blockchain splitting fork that named itself Bitcoin Cash, BCH. Currently mined at 3.8 Exahashes per second. And this is correlating to the price relation between BTC and BCH. A lot of different blockchain splitting forks followed, easy money drained out off the original Bitcoin, BTC, value. And recently also BCH got seriously forked off in a spliting blockchain called Bitcoin Core, BTCC.
Rollbacks and huge blocks
The full control business take over of Bitcoin Cash, BCH, will happen in november 2018. And the so called Satoshi's Vision will have some code removed, some changed and new things added. Most of it is too technical to get into. But the max blocksize will also be raised to 128 MegaByte blocks. While nChain was already working on the TeraByte {TB}, yes not GigaByte {GB}, blocksize version of their Bitcoin fork.
The TB version is aimed at the financial business industry. And the BTCSV {BiTCoin Satoshi's Vision} developement sponsor, ChainGeek, wants to lockdown the Bitcoin protocol, for business reasons. How about that for a hostile take over...!? This, to me, stinks like an attempt to privatize Bitcoin, lock it into a centrally controlled business model. Glad there is still Bitcoin, BTC, and many other Cryptos that are truly open, free and decentralized, remain so.
It was to be expected
Yes, I was laughing when I saw the nChain and ChainGeek announcements. It was already clear to me that this was the business take over model vision mister Andressen, a former well known Bitcoin developer, was trying to get going. And it had to go fast, get the banks in and the goverments. Not an alternative system to break the banking monopoly, liberate humanity from debt-slavery. Because Cryptos, like Bitcoin, if decentralized enough, could make that happen...
Then mister Ver and mister Wright joined forces with the Chinese company of Bitmain as a sponsor, to create the business version of Bitcoin, BTC. It was a gamble, but that being mister Ver his business, he took a bet on a blockchain splitting fork, called Bitcoin Cash, BCH. It might be one bridge too far though as it seems mister Wright had his own agenda from the start.
Will the value of BCH now split for a part into BTCSV? End of 2018 we will see how this developes itself further. It could be that mister Ver and Bitmain keep supporting BCH, while mister Wright and CoinGeek fork off. One way or another this will give many BCH HODLrs a run for their cash. Some will wait until the actuall split, so they get BTCSV too and then start the huge dump. Bad news for Bitmain, but it seems they already found a new way to get some fresh cash flowing in...
May the Cryptos be with us!
Oh no, not more Bitcoin clones!
Image CC0 licensed
UPDATE 1
Links to the pages about Bitcoin SV.
nChain about the launch:
https://nchain.com/en/blog/bitcoin-sv-launch/
CoinGeek about their sponsoring and support:
https://coingeek.com/statement-calvin-ayre-coingeek-bitcoin-protocol/
More bloody forks. Quite ridiculous!
Bitcoin forking off into the realm of the absurd!
I used Bitcoin buying hosting same.. thanks for sharing this post
Please provide a link to your information. I did some research and found nothing about your post.
There’s a Satoshi’s Visison Conference, organized by BCH and it’s about to happen in Japan this November but that was it.
https://satoshisvisionconference.com
Updated the post, added two different source links at the end.
I think you got it all wrong.
This is the greatest thing that can happen to crypto
This is just a HARD FORK, not a chain split
THANK YOU, I’M SELLING ALL MY BTC RIGHT NOW! 👊😁
Are you sure I have got it all wrong...? 😂
If the original BCH chain moves on, meaning that it is still getting mined, and the BSV version gets only CoinGeek mining, than in november there will be another BCH split. BTCC already split off.
Bitcoin Core, BTCC, is faster, 1 minute blocks. Able to do 80MB per 10 minutes. Soon 160MB, I guess.
Did you miss the recent trouble inside the BCH camp, the ranks are fighting amongst each other? What mister Wright and companions now are doing is claiming the brand Bitcoin Cash. Will be entertaining to watch this unfold.
And it seems to me you have not heard mister Wright speak and explain how he wants to get banks and governmens in. Make Bitcoin Cash SV, BSV?, have such huge blocks that only big business, banks and so on, can move them around. So if you are celebrating that, sure keep your BCH. 😁
And come one now, you do not have any BTC to sell. 😉
You are right though I think about that this is indeed the best thing that could happen to Cryptos. As this will soon self destruct BCH and BSV, freeing a lot of capital for others, like Steem and Bitcoin BTC. 😁👍
There’s no BSV version. It’s a HARD FORK not a chain split.
And BTW I did have BTC, I wanted to keep it as Digital Collectors Item since very soon it will be impossible for it to aoperate as currency
They fork the code off the ABC one, it will be on its own Github spot.
CoinGeek is sponsoring and supporting the fork, with all the code changes done by the nChain developement team. And I think that it can appear confusing.
It is all being presented as if this is just an update... Right, but mister Wright and those on his side have silenced the original Bitcoin ABC developer. Kicked him out off the BCH slack channel and now presenting their fork as if there is none...
If a new Github place is created, that means the code of Bitcoin ABC Cash is being forked and then changed.
It is all in the linked texts, though they hide the fact that it is a hardfork. And nodes need to update to this BSV version.
If I am wrong, I will get back on this subject somewhere in november 2018 and state so. You are by then free to remind me of that.
Update:
Hardforks are the times when blockchains are able to split. That is how Bitcoin Cash split off from the Bitcoin blockchain.
It is how Bitcoin Core split off from the Bitcoin Cash blockchain.
And as there is no consensus, as far as I know on the nChain/ CoinGeek hardfork, there is another possible Bitcoin Cash blockchain split in november. It is very reasonable to assume this will happen.
And I am okay with it if we agree to disagree on this subject.
I’ll remind you in about 2 months.
Thanks for being civilized about it. Peace ✌️
Thank you too, its only Cryptos, there is far more serious shait going on in the world.
Thanks for the conversation and have a good day.
Peace. ✌
I’m glad to see you’re calling it like it is tho , BITCOINCORE BTCC. 😂👍
You do know there is an actual Bitcoin Cash blockchain split that is called Bitcoin Core, with ticker BTCC? (The original Bitcoin I still refer too as BTC.)
It is all getting quite spaghetti Western crazy, but hey, always excitement in Cryptos.
It is close to 2 USD in value. They are moving to 8MB one minute blocks. Have bought me a few of those, just in case.
https://thebitcoincore.org/index.html