It took 226 hours mining 18 Peta Hashes.

The reward in BTCC was 13.43134489, block reward and transactions fees.

It seems there is a split.

Could I have been wrong about Bitcoin Core and their SegWit version? Well, I do know how ugly it can get at the Bitcoin Talk forum sometimes. And it is so easy to get caught into the 'divide and rule' game. It worked for me like that when I got attacked with words on the Steem platform. But anger, like fear, triggers a part of the brain that is very bad at logical thinking. Worse even, it is mainly used for freeze, feel and/or fight behaviour. It is the animal part of our brain, just laying under the very smart grey matter. So, who is right in this blockchain split war? To be really honest, I am more confused than ever now. Censorship seems done by the SegWit camp, putting a silencer on everybody that wants to question it. Luckily I am here at Steem, freedom of expression on the blockchain. There is a risk of getting downvoted of course, but still, it will be on the blockchain.

SegWit, developed by what is known as Bitcoin Core, is supposed to be a blockchain innovation. At least that is how I saw it, with the reasoning what it would be able to do and so on, looked good to me. Splitting up the Bitcoin blockchain looked like a very bad idea to me, until recently when I stepped back from the arena. And I still feel kind of sorry that I fell for the trap, but at least it gave me some inspiration to post. Now I see it like there are companies funding different kind of Bitcoin developements, each with their own reasons. Well, at least if they honor the MIT Free and Open Source license, what could go wrong, right? Yet another fork could be made that will split the Bitcoin blockchain even more. But then the people should be able to know they have a choice. And so I did expect that when Bitcoin Cash managed to find a block it would be all over the news...

The silence made me question.

On monday july 31 2017 the Bitcoin blockchain got split into a Bitcoin SegWit Core and a Bitcoin BigBlock Cash version. It will be official when the Bitcoin Cash hardfork is going live at august the first at 12:20 UTC. The proof is there, although it seems it does not count as a split yet. Now, why on earth would I promote this, as I was apparantly opposed to it before. Well, the Bitcoin SegWit Core censorship made me doubt, even though I got verbaly attacked by some Bitcoin BigBlock Cash fanatics. And I am sorry I tricked myself in some kind of battle that distracted me from the real issues. Because I do disapprove of a central company control over a public blockchain that has a Free and Open Source license. Not the support of developement, but keeping others out, using censorship to silence the critics. Especially if they are on to something. Free Open Source works best with a Free Open Mind, at least that is what I think.

There is something fishy about a system that tries to hide something, by intimidation, censorship and so on. What are the ties behind it? Who controls the controler, yes, it made me doubt the intentions of the Bitcoin SegWit Core team. But I also dislike the way the Bitcoin BigBlock Cash team, because from my point of view it does not offer anything better. And I came accross fanatics from both camps, which made me lose my cool too, nobody wins by that. So, I took a step back, went for several walks, had a good night sleep about and saw the proposal of Bitcoin UltraFast United. That one actually made me laugh and I became to see things from a different perspective again. It even made cheer for BTCX, as the Bitcoin UtraFast United, solution is called. It is the Bitshares solution to the problem where two fight over a blockchain, the third will win the race.

SegWit spendable channels.

The part where there is doubt, although I am not completely convinced myself yet, is where the Bitcoin SegWit Core version uses paychannels with Segregated Witnesses to control it. To simplify this, correct me if I am wrong, this means an amount of BTC gets locked into a special address. So far miners are still involved to secure this transaction, as it gets locked into the blockchain. And anybody can still see it, as it is a public visible transaction. From that point in time, the Bitcoin that got locked into a SegWit address are free, basicly. The value it represents can now be used where-ever, by who-ever. Maybe for a tipping channel, it could create a sidechain for micropayments, or any other use. The one that controls the locked SegWit address, or a combination of owners, still hold the actuall value that is connected to it. They can release the BTC inside the locked SegWit address(es), or keep it locked for as long as wanted. But it can be spend by who-ever controles the SegWit addresses that hold BTC.

Complex? Yes, it is, as far as I can grasp it. The fear some have about this is that through these channels rogue entities could force a SegWit address take-over. Maybe because there are laws passed that allow governments to do so. But there are more rogue entities that can be thought of that are attracted by something that has value. Also, a worry of some of the miners is that it will hit hard on their income. Because, instead of scaling the blocksize, creating more transaction space, SegWit moves sideways, offline payment channels and what not. There they forget that sidechaining might be a new frontier and the mainchain still needs to move on. And it could make Bitcoin more and more expensive. But the doubt about SegWit, as far as I can see, is where is the capital value going that leaves the mainchain? Could governments gain control over Bitcoin through SegWit that way? Or banks and multinationals? Well, to be honest, I am still not convinced SegWit is a governmental Trojan horse. But I am okay with a split, or even more, as it is possible to secure the transactions to the right blockchain.

And there is BTCX, or Bitcoin UltraFast United.

As I see it now I have hold of the private keys that hold BTC. Did this in time before Bitcoin BigBlock Cash found its first block. Therefore the split, to me, is already a fact. So now I hold the same amount of BTC as I do in BTCC. Together they are worth over 3100 USD, so already a gain of 15%. Not bad for a good night sleep. And for Bitcoin SegWit Core, I can choose to stay away from SegWit addresses, and only go for holding capital value long term. While I can even sell my Bitcoin BigBlock Cash, to trade with. It is an extra after all. So, there already is a win-win. And I almost am thinking about asking when there will be another group planning another split. Then I will even hold on to my private keys longer.

But now the split unofficially already happened means it will be worldnews on august the first. When the Bitcoin BigBlock Cash blockchain split gets activated at 12:20 UTC. And that has another bonus, the third win, BTCX will be announced, which I consider the best Bitcoin version already. It will be going Ultra Fast as it will be on the Bitshares blockchain. And it can scale as much as needed. Bitcoin UltraFast United, or BTCX, ready for the future, as one day it could even run on EOS, the parallel processing blochchain operating system. Therefore I state: Let the splittening begin!

Have a good one!

PS Only invest in cryptos what you are willing and able to lose. Also your speculation might be as bad or as good as mine.

That already looks like a split to me...

screenshot by @oaldamster