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RE: Get Ready for a World Currency
Good work Shelby! Already falling into the rabbit hole with your links..
Any planned write ups on your theory behind what's happening with seg2x signaling (maybe fake), the outcome, Jihan games, and effects on Litecoin?
I may make a blog about all of that if I have time. I wrote some private messages and essentially my stance is sell all forks except the original Bitcoin, because afaics that is the only Schelling point is to reject all attempts for various political factions to hijack Bitcoin. In my view, Bitcoin was designed to be the reserve currency of crypto (and has the most value if it remains immutable), not a scaling currency to handle payments on chain. Search this blog for “intrinsic value”, and Bitcoin’s supply being inelastic above the protocol limit of 21 million coins hinges on it being immutable. Besides scaling can not be obtained on chain with any hard block size limit, nor with an unlimited limit. I wrote a summary of my rebuttal to recent Craig Wright’s scaling presentation recently as a Pastebin. I will try to get all that into a blog before the end of the month if I have time. My view is that all the BTC forks are deception for taking BTC from fools and transferring to those who understand that the game theory of Bitcoin is such that it should remain immutable.
I have maintained since LTC was 0.006 that it was going up to 0.05 (again as it did in 2013) before BTC topped out again. Other altcoins have also appreciated significantly including STEEM. Remember my blog 9 months ago coincided afair almost to the day of BTC launch from $600s.
Looks like we are entering a blow off top soon for BTC perhaps $4000+. Not sure if we have another extended multi-month or multi-year correction after that. I have not been following closely the markets as I have had my attention focused on technical work and moreover mostly sleeping (recovering from liver disease and the liver toxic Tuberculosis treatment which I’ve recently completed).
P.S. thanks to @chryspano for the upvote, which made this blog more visible to more readers.
Thanks for the reply, just sent you my first Steem transaction! Do you think Jihan games are just beginning with the Segwit signalling? Will Jihan accept Segwit on BTC? I always thought BTC cant mutate with Segwit implementation, however it's starting to look like this may turn out to be untrue. Thanks Shelby, and glad you're back at it!
Unless Bitmain has a million BTC it wants to risk by selling it on original Bitcoin and buying their own fork, then million BTC holder MPeX had years ago vowed he will sell any fork and buy the real Bitcoin. The crowd will follow the leader as everyone wants a Schelling point.
In other words, the miners have no say in the outcome.
But Jihan isn’t stupid; thus presumably he is bluffing. But for what reason?
When the segwit part of seg2x activates, it still will be the original BTC though. Is that going to happen?