The ABC vs SV fork is a good real world test of the Nakamoto Consensus. Though not perfect because if BCH dies, miners can go back to mining BTC. What happens when there's an ideological entity that has the means to 51% attack a competing fork? We will find out tomorrow! 🍿 twitter.com/BitcoinMagazin…
The fact that it's even possible for pool operators to redirect hashpower without end users knowing is concerning. @TheBlueMatt's BetterHash Mining Protocol can help stem abuses of power by pool operators. github.com/TheBlueMatt/bi…
A similar thing happened to BTC 3 years ago when GHash crossed the 51% boundary. That led to a scramble which involved gentle persuasion of the offending miner, and was resolved without much public fanfare.
Because this attack will drive the price of the coin to $0 if left unchecked, expect a reaction from people with vested long term interests. Miners have historically not faced a single entity trying to take over a coin.
My first act as @CasaHODL's Chief Trolling Officer is to announce our support for the real Bitcoin Cash - Satoshi Vision. The plug & play Casa Cash node will be available for pre-order soon™ for an introductory price of $20,000.
In the year 2020 SF is a zombie wasteland but the Salesforce Fallout Shelter prevails -- a fully contained, hermetically sealed city inside a city. Live, work, eat in the trendiest, needle-chic neighborhood in the world but without any actual exposure to the native inhabitants. twitter.com/Benioff/status…
I tried it myself: #iampass is an amazing showcase of what the future of #IOTA based biometric identification looks like. Very much looking forward to seeing this become a product over the next few months! twitter.com/i_am_pass/stat…
Some people are worried about the impact of the $BCH hashwar on Bitcoin.
Price-wise: it's solid fud (articles like this bloomberg.com/news/articles/… ) The $BCH actors don't have that much $BTC left to play with (just look at Bitmain's numbers from the IPO)
Hash-wise: People are worried about miners switching to $BCH to fight the battle. This will happen. Roger already announced it, Jihan can't afford to not do it considering the amount of $BCH Bitmain holds.
We all know that when hashrate disappears $BTC blocks come slower.
"Lucky" for us Bitcoiners the impact won't be as big as an actual coordinated "attack" of withholding hashrate. The difficulty adjustment for Bitcoin will happen soon (~190-ish blocks) and it will be a negative one, so it becomes easier to mine.
If for example 20% of the $BTC hashrate would disappear at the start of new difficulty retarget period, the impact of it would be more considerable. Also the fact that it's right before a weekend, when there are less transactions, should really limit the impact of it on Bitcoin.
"Cryptography is a Darwinian process. It takes decades for cryptographic functions to mature as they are attacked. Newer algorithms are being put into use these days with questionable assumptions and little cryptanalysis." - Nikolas Courtois #Decentralized2018
Quite the exhaustive list of enterprise #blockchain use cases. @viant_io using #Ethereum for supply chain track & trace, @gridplus unlocking wholesale energy, @OpenLawOfficial enabling legal smart contracts, @MeridioRE tokenizing real estate, and much more media.consensys.net/enterprise-eth…
It's 7am in Sydney, just woke up from a 4hr night of sleep & see #Bitcoin Down $500 & I have 3k notifications. $BTCUSD charts had ONLY warned u for 6 months this was coming. Normally I get up & start my work day, but my work day was preparing people for this day! So back to bed!
I could gloat about Bitcoin collapsing 10% in a day to $5700. But that is still some way to ZERO where Bitcoin belongs. Actually since Bitcoin is The Mother of All Toxic Pollutions & Environmental Disasters its true fair value is highly NEGATIVE with the right externality tax
One of the attacks that SV could do with ABC is just keep mining empty blocks. The last block on $BCH that has been mined was one with 0 txs even though there were transactions the mempool. Could be start of an attack. twitter.com/BitMEXResearch…
Around this time most will start making up excuses at to reasons for the #Bitcoin Price Drop. They will blame manipulation, whales, $BCH Fork Drama/Fear, @ProfFaustus recent tweet on selling $BTCUSD, etc.
Occam's Razor: "Maybe People Just Stooped Buying the $6k (Yearly) Low"
What most Amateur Traders on CT Don't get (I teach it at Workshops) is there is a Huge Difference between being "Bearish" & being "Short".
The way u only Bet in a Poker Hand when the odds of Winning the Hand r in your Favor. The BEST time to SHORT #bitcoin was Oct/Nov. $BTCUSD
$BAT, the latest token listed for consumer trading on @Coinbase, has lost 42% of its value in the past week and is the worst performing cryptocurrency with a market cap greater than $100M onchainfx.com
Prepare your ANT! Tonight, something magical happens. For the next 48 hours, you will be able to vote on the governance process for @AragonProject, and kickstart its transition to be fully governed by the community! 🦅 twitter.com/AragonProject/…
Absolute total desperation from @BitcoinCom mining pool and Roger. Using pool hashing power to mine Bitcoin Cash ABC against the wishes of users is unprecedented, it should be opt-in, not forced on customers. Likely Jihan will abuse Antpool in a similar way. Pathetic!
Bitcoin ABC will lose the hash war no matter how much hash they steal from Roger and Jihan's pools. The miners backing SV are only exclusively mining BCH. They can wait however long until the temporary pro-ABC hash goes back, and then re-org the chain back to remove ABC blocks.
Today @PeterRizun went on stage at #Decentralized2018 in Athens to talk about the #HashWar. He said that Greg Maxwell was providing technical support to CSW and BCH:SV.
Note that he calls him a "Genius Hacker" in his slides.