Is Segwit2X a "bank" controlled takeover of Bitcoin? My perspective as a programmer...

in bitcoin •  last year

I saw a post on the subject of the accusations against B2X. To me this sounds more like someone close to core not getting their way and spreading FUD.

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(Google Images - Wikimedia Commons)

A couple of things to remember here... Is the code still open source? Can the so called "bankster" version of bitcoin (B2X) print up as many as they want? If the answer is no, then the "bankers" are presiding over their own demise.

Are any rules being written into the code that allow it to siphon off equity? I haven't seen any recent code in this, but at the time of the Mastering Bitcoin text by Andreas Antonopoulos, there is no such code. I've seen that for myself. If there was any such code, surely that would be exposed more perspicuously than by just saying that so and so is a "former banker".

The beauty of decentralization is that no one is in control, so maybe a few bankers do get in and fork into something like an SDR. If you fail to be in control of your own funds because of it, you'll know which chain to use.

People who suffer any theft will abandon that chain. If Coinbase users suddenly see reversal of transactions in the same way banks do (why are you holding on centralized exchanges anyway?), same thing, you'll know that you aren't in control. Similarly if the coin starts "inflating" beyond 21 million then it will not have a good SOV.

Here's some advice from Andreas Antonopoulos on how you should hold your crypto...

I'm not worried here. There are so many other altcoins already and Gresham's law will hold if an equity drain occurs.

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Bicoins value is in it's uptake , so it follows that any coin with a large user base will also gain equity ,the great thing is ,any coin can instantly skyrocket or become worthless based on user perception and actual market forces ... what will actually happen is value will trickle down as it has to many different coins and schemes and the coin that offers the most protection against the bankster monopolist criminals will always win , a game of chairs if you will , this is a game played by perception .


Fortunately the facts are easily checkable.

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