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RE: When two fight over a blockchain.

in #bitcoin7 years ago

Thank you for reading and giving a reply.

It is good to understand what is going on as seen from different perspectives. My post is my take on it and I have my preference. That I think I made clear by calling the Viab-tc innitiated, backed and financed BTC_ABC fork: Big China Coin.

As it is a Chinese cloud mining company, that has made no secret about it. Does not make it right to me though. As with the fork that was made, was one of the latest Bitcoin Core, with SegWit build in. Now, that it is perfectly well to do so. That is how all the Altcoins came into excistence.

With one big difference to the one we are discussing. They were all altered, got their own genesis block mined and created a unique substantive blockchain. No wether others called them shaitcoins or not does not matter. They did fork, adapted the code, made a genesis block and went their own way.

That is how it is done, when one is last to come and fork from a previous one. BTC-ABC, sponsored by the Chinese cloud mining firm Viab-tc is a fork of Bitcoin Core with SegWit. That got ripped out, perfectly okay really, blocksize to 2MB default, max miner adjustable to 32MB, also well. It is free MIT Open Source licensed, so that is alright, so far.

But, instead of creating a real full fork, with its own genesis block, they decided they want to take over the original Bitcoin blockchain. And that is where I dare to state that this is an orchestrated blockchain split attack. Done by a Chinese cloud mining company.

And all because of that and that I think that they are afraid to really put their money where their mouth is, meaning creating a true fork with its own genesis block and a unique blockchain network, I call it for what it is in my opinion: a Big China Coin.

But anybody is absolutely free to make up their own mind about it. And it started to get like this for me when I got verbally attacked in quite an aggressive manner here at Steem because I posted about being happy Bitcoin got SegWit. And the more I started to read into the BIG BLOCKS side of the story the more I was convinced that it should be named: Big China Coin.

But, like you wrote, most important thing is to have your private keys under your own control, as that could serve you even three ways in case of a split. (If it happens.)

Excuses for the long reply. Hope the cryptos realm will come out of this mess stronger, not matter what.

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