UASF = Bitcoin is Finished!
Man it certainly looks like Bitcoin is on the verge of becoming something unrecognizable. Satoshi must be crying right now, because this
"Peer-to-Peer Electronic Cash System" , will turn into a "Middleman-to-Middleman Electronic Banking Settlement System".
Not quite the future I was looking forward to. Why can't we just raise the blocksize to 2 MB, in fact 8 MB to just get it over with?
Ahhh but you can't do that because the chain will split, and earthquakes will destroy the planet as they said. No but seriously, they said that a 2 MB block will definitely jeopardize the system, and the chain split will cause chaos... So a 2 MB hardfork is unthinkable....
Guess what dumbass, the UASF is a hardfork.
So these idiots the past 2 years have been panic-mongering us that a hardfork is disastruous, and now they want their own hardfork introduced just to push through this Segwit nonsense?
So a hardfork is bad, except if it's their own hardfork. Fucking hypocrite idiots. Yeah, the Bitcoin developers surely have their honesty and integrity in question right now.
UASF = User Activated Soft Fork = Forced Segwit on the Miners
Which is really suspicious, they want to use force, yes yes, the voluntary decentralized currency now has a fucking GOVERNMENT that will impose force on Bitcoin users.
But they are actually right, their hardfork is not as dangerous, because they have 85% of the nodes in their pocket:
Which means that Bitcoin is centralized as hell. I mean these Core boys can just introduce any kind of shit, as pointed out in my previous article:
So they can just introduce anything in Bitcoin Core, because 85% of the network will use their software. Which really means that Bitcoin is centralized as hell, and it's finished.
This is the GAME OVER for Bitcoin, whatever happens to it in the future, it will be unrecognizable. They can just insert anykind of hardfork into it, because the stupid nodes will just follow like sheep.
And that is how my friends you can centralize a decentralized community. It was never decentralized to begin with though, but it was a good illusion show that they put up.
The segwit is then just so horrible that it won't even fix the scaling problem, the transactions will still be clogged, but the network will definitely will be taken over by sidechain transactions, which are centralized as hell. Bitcoin is finished in my book.
I have divested myself of Bitcoin now, if you read my older posts, you knew that I had 80% of my portfolio in Bitcoin in the past. Now this has already changed radically. I barely have like 2% left in Bitcoin for this reason and this reason only.
UASF will be activated on August 1st, and the sheeps will be slaughtered. I expect the price to horribly drop, since there will be calamities on exchanges, but not just that, this will ruin Bitcoin forever.
There is no way how practically you can overturn the hegemony of Bitcoin Core from 85% usage in order to stop UASF in time before August, therefore this takeover will happen regardless.
We really need to look for an alternative gateway currency. Bitcoin is finished in my book. Too bad, it could have been a great decentralized currency, if not for the greed and incompetence of the development team. I really shows you that you should never trust anybody, but yourself. Don't ever look for a messiah, it will never come, people need to take their own future in their own hands.
LIST OF EVIDENCES:
CENSORSHIP
- Is today "Blame Jihan Wu Day" in /r/Bitcoin? Typical blatant lies from the propaganda machine
- /r/bitcoin won't even ban you anymore. Just put you in mod queue and never approve, or shadowban you.
- /r/Bitcoin Censorship, Revisted by John Blocke.
- A (brief and incomplete) history of censorship in /r/bitcoin by John Blocke
SUBVERSION
- I believe Greg Maxwell wants to destroy Bitcoin as peer-to-peer electronic cash.
- Tone Vays saying the he is willing to lie/trick people to get Segwit activated.. Disgusting.
- Someone is firing up alot of fake UASF Nodes
- The segwit devs openly say that THEY WANT HIGH FEES AND FULL BLOCKS! Don't tout it as a cure for the very thing its devs claim they want.
- Core/Blockstream attacks any dev who knows how to do simple & safe "Satoshi-style" on-chain scaling for Bitcoin, like Mike Hearn and Gavin Andresen. Now we're left with idiots like Greg Maxwell, Adam Back and Luke-Jr - who don't really understand scaling, mining, Bitcoin, or capacity planning.
Read the Full Conflict Here:
Sources:
I really don't agree on this post. The possibility of the USAF is an extra layer of decentralization. When bitcoin mining becomes centralized (what it already is and Satoshi warned for) they can't take over the network with only hashing power. Because the users, the most important group of the community can say that they don't agree.
Bitcoin is only centralized when a few persons in the community can decide for the majority. In mining nowadays this is the case, but the user base is still very decentralized. Dont forget that the UASF needs a majority to not become an altcoin, so a majority of users is needed here, this IS decentralization.
This is perfect decentralization and without the possibility of a UASF Bitcoin was already taken over by a central bank or government. Im very happy with this backup plan if miner decentralization fails (see ASIC's Boost and Bitmain).
Furthermore, Segwit is except for scaling very important for the 2nd generation applications of blockchain. A payment system is only one application, the tiny top of the iceberg. BU supporters must wake up to the additional possibilities that will bring huge opportunities. The way you are speaking about Segwit tells me that you are not aware of that or want alts to gain on expense of Bitcoin.
Normally that would be true.
But currently we have 85% of the nodes using Core, and it's unlikely that they will switch before August 1st.
Which means that Core will slam through any patch they want. Which makes BTC very very centralized.
Everyone can run the node they choose. When people are not happy with core they can change, but the developers of core are the top of the world and made Bitcoin what it is today. 85 percent of the network has chosen to use core and this is ok. Segwit activation will scale a bit for the short term, but will create the foundation for huge innovation for the long term where more use cases will be possible and scaling will be a side effect.
Yes Core is a secure wallet, and there isn't any other wallet that is as vetted as Core.
So they can just insert any kind of hardfork patch into core, because they know that people will rather adopt a crappy patch than to change wallet to a more insecure one.
So there are no options = monopoly. It doesnt matter how the nodes feel, if there are no alternatives.
So I just choose to stick with another coin until this issue is resolved. I don't want to get caught in the middle of the storm.
"Peer-to-Peer Electronic Cash System" , will turn into a "Middleman-to-Middleman Electronic Banking Settlement System".
Upvoted for the good content
I found ton of posts about Bitcoin Death!
Since the creation of Bitcoin,
the social media hasn't stopped to "predict" the death of Bitcoin.
My point of view Bitcoin Will Never Die
Oh c'mon this is not a meme.
This is a real threat, the fees are only getting higher and their solution is just to centralize the system and ship TX into sidechains (bank ledger).
Total takeover of Bitcoin, the Satoshi-version of Bitcoin will die, that is undeniable. Whatever will remain will be a Frankeinstein Monster, not worth my attention.
Thanks for comment
I see that is real threat and I thank you for sharing
And I respect your point of view
"Total takeover of Bitcoin, the Satoshi-version of Bitcoin will die, that is undeniable."
Let us wait and see
Fungable merkle trees!
Seriously, every time I hear Bitcoin is dead... it reaches new highs. I will believe it when I see it.
I BGT Bitcoin at $250 .. and I will keep it and never sell
Let us wait and see !!
When few months ago I posted that bitcoin will hit 2800$ no one believe me.. Anyway major trend is up
I don't think you want to see that when Bitcoin dies, it will be very ugly.
Bitcoin will never die, but it may dwindle into obscurity. I just hope it won't be superceded by Ripple - as far as I understand it, Ripple is NOT a decentralized cryptocurrency.
Definitely not. Ripple is probably just pumped up by corporate investors, but I hardly see any userbase or fanbase of it. It's just a bank-coin.
Hey good looks profit! I always enjoy a good discussion with ya but you nailed it on this one.
I did a post last week about this Sybil attack on bitcoin. Lol idiots can fork if they want
I wholeheartedly agree with the above statement.
Gateway platforms such as localbitcoins.com should start adding new currencies in order to mitigate the risks of bitcoin.
Diversity advances decentralization, and decentralization advances liberty.
Why would Satoshi cry? Bitcoin is just a working prototype - others have picked up the idea and run with it. There might be a few more boxes to tick before Satoshi sits back and says, 'Mission accomplished' to himself but the general crypto currency project has a life of its own now.
I know, that is great, we always need alternatives if problems arise.
Ha, fucking love how this was written.
Thanks, I like to just talk directly, without any adjectives or articulation.
ohh Really !! Great Post i never read like this content!!
No this will be GOOD for bitcoin! people will wakeup and realize OH SHIT altcoins!
the User Activated Soft Fork August 1st? Legacy Bitcoin vs BitcoinBIP48 just like ethereum vs ethereum classic ?
We will have bitcoin A vs Bitcoin B and it will make alot of bitcoin nly people realize they need some altcoins and not just ethereum and litecoin....people will ditch coinbase for new servuces that help you get started with a secure hardware bitcoin wallet and or paper storage through bitcoin armory, people will trust a credit suisse type system with verifiable privately issued bitcoin physical certificates to cut through the bullshit! Look to @tracemayer for guidance and we will be able to build a company that offers a product for the masses that makes it easy for anyone to have extremely secure bitcoins.....bitcoin armory is cool and all but its too difficult for most people!
they need an app
an app that gives them their own bitcoin core node ...maybe we can have a private system, yeah they wont hold their keys, but we can find a way to trust someone, someone has to be trustable! there has to be someone or some group you can trust to hold your bitcoins in cold paper storage, withot any exchanges etc, like you just send them bitcoins, they put em on a paper offline wallet for you, and thats it, you can retrieve them once and thenif you wanna store more u do it all over again! It will only be for longterm storage of bitcoins with a one time fee for depositing with them! just a big vault with paper cold storage...liek coinbase but no IRS
Yeah Altcoins! in fact, where bitcoin falls down altcoins will pick up. Altcoins are much more nimble and quick when it comes to making changes. Still I think BTC will always be what most people think of when they hear cryptocurrency but the real advances and market innovations are likely to come from Altcoins
Nice post man profitgenerator
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