What the fuck is happening?
>Bitcoin profitability at zero
>difficulty adjusts up yesterday
>suddenly, mining spikes
>fees shoot through the bloody roof
>bitmains mining pools over 40% hashpower, slushpool drops below 10%
Bitmain is obviously only able to keep mining profitably thanks to an unreleased gen of ASICs. Basically.. is this the precursor to the flippening?
Other urls found in this thread:
bitcoinwisdom.com
fork.lol
en.m.wikipedia.org
twitter.com
JUST FLIP BITCOIN SO WE CAN GET TO 50K ALREADY
MOM IS FUCKED IF YOU WANT I COME BACK LATER
Why is anyone betting against the man with all the power?
I'll sum it up.
>moons
>crashes to something so it catches up on bitcoin
>constant it's dead shitposting
>repeats until the flippening
pic related
FUCK YOUR MOTHER IF YOU WANT FUCK
??
Difficulty will adjust in 10 hours from now
kek the bcher spam attacks are a joke these days. the mempool cleared out in a couple hours.
Too many people bought bitcoin at >$10k so they are uninterested in hearing about why they're going to lose money
??
source
difficulty adjusted last night
>bcher spam attacks
>mempool
>let mempool stack up
>people start paying higher fees for priority
>bitmain clears out entire mempool way faster than everyone else can
>claims all fees
this is healthy how?
I always check here: bitcoinwisdom.com
fork.lol says it increased last night. one of these sources is wrong
But I just notice that it says "Updated: 1:45 (22.4 hours ago)"
Shitty site
damn, looks like it's broken.
Bitcoinwisdom hasn't been updated properly for a few years. I use this side for some stuff:
fork.lol
that site even says it isn't up to date
18:45 (22.4 hours ago)
satoshi, vitalik, and Jihan have been charged for operating a pyramid scheme and are currently on the run. BTC and alts are bleeding and will hit 0 once this hits mainstream news sell now.
By who, lol?
Bitmain has firesaled their s9 inventory for ~90% discount from where they were 6 months ago. They already have s11s ready and mining, they are going to slowly push their competition out of business.
Heres my theory
>Don't release new asic
>difficulty inflates due to your own exclusive mining
>drive everyone else out of the market
>ditch the main chain
>can't hit the next adjustment without weeks of mining at a loss by everyone else, if at all, depending on how high it inflates
>switch to bch
I can't put my finger on it exactly but this feels like an attack on the chain by people with a hardware monopoly.
All I know is I am all in BCH, because this is completely out of my hands.
www.mymilkers.xyz
Don't get left behind biz we are launching in an hour
>Go to slip.gg
>Get 0.00007448BTC for free with the code "Mesper"
>Use a martingale
>???
>Profit
bitcoin dying would kill the whole market though
oh shit is this shrimp farm 2.0? i'll throw like .1 eth at it for fun lel
I'm sure they know that and have been selling since jan.
Too big to fail eh? Better petition the gov for some bitcoin bailouts
Here's the other hilarious part
>buttmain makes the next gen of miners
>drives out all profitability from previous gens
either
>A. Maliciously coup d'etat BTC
>B. Force everyone else to buy your new gen of miners, "securing" the "decentralization" of mining, despite that the chain has already been seriously inflated in difficulty thanks to your premining, making the hardware less efficient for everyone else
I'm all in bch because I know they have the whole crypto economy around their little finger but I don't like bitmains business tactics
this
if Bitcoin dying kills the market, they're shorting the market by not selling the next gen of ASICs to drain the profitability out and inflate the difficulty. It just depends next on whether they want to keep playing the game or if they've determined it's a good time to alpha strike
i say we should rip the bandaid off and just do it. let everyone re-coalesce around bch. market recovers within 6 months, gives everyone one last chance to buy the dip and make it
>let everyone re-coalesce around bch.
Or how about we let the Bitcoin brand die as a whole
The throne is ready.
>the man with all the power
>got cucked into accepting segwit against his own will
kek
kek it's fascinating to see how the bch shills evolve their tactics
>BagCoinHolders will actually believe this
>gives everyone one last chance to buy the dip and make it
This literally sum shitcoiners dreams: Wanting to get at the bottom of Bitcoin, even if throught a shitcoin. Sorry, will never happen.
Yeah it is except it's a tit farm
>bought ATH
>Still hopes bcore goes on a bullrun
I bought at $100 ish unlike all of you summerfags, I will never lose, only continue getting richer, I can afford holding during bear markets and still be on the green by huge margins, while you lose whatever little bitcoins you have on your shitcoin adventures.
>refuting literally nothing in the post
I'm not a shill, I'm a concerned citizen. this is not the time to be buying bitcoin bitcoin.
Satoshi is alive and will not let this happen.
How can Satoshi stop this?
tips: he can't
could you imagine if satoshi was a BCHer? and dumped his segwit tokens?
dubs of truth, but I can't see how Satoshi could prevent this. His computer was able to mine a million bitcoins, but his system has outgrown him
He is. remember when the fork airdropped equivalent numbers of BCH to BTC wallets?
god im so glad im all in bch too. i see both sides but i know who has the most power
Yes, the US government agencies that created BTC are alive and well you are correct.
Whether Jihan is biding his time or not, the fact is the Core elites can only blame themselves.
Imagine if companies like Blockstream focused their resources on actually building out competing ASIC factories to prevent a Jihan monopoly instead of goofing around on projects no one cares about like satellite nodes, focus on your fucking infrastructure first before you start experimenting.
Roger Ver was right, it's ALL about economics, a currency is used to conduct business and trade, not liberate people. Financial Liberation is just a side effect, there has to be a profit motive first.
people will see this as a dead end of PoW
switch to PoS based coins like ETH
This shit will end up killing bitcoin AND bitcoin cash. Eth and 0xBTC will survive through it though.
i apologize, the majority of my folio is in BCH and i have eth, eos, dcr as well. and no, i dont think pow will go away
Proof of work was fucked as soon as there was a monopoly on specialized hardware. PoW needs to die.
its called capitalism. if you can build a better product than go ahead.
bitcoin wouldn't die, corecucks would die and that would be a good thing for crypto in the long run
Bitconnect is capitalism too, doesn't mean it's a good thing lolz.
>he thinks this is over
jihan has more bitcoin and hashing power than all the corecucks combined, if you think he loses you're delusional
>not understanding monopolies
>not understanding barriers to entry
>not understanding simple fucking economics
if capitalism was always fair, we wouldnt need any regulation. As it turns out, firms don't like competition despite it being healthy and important.
If we had truly unregulated capitalism everything would eventually be controlled by one giant megacorporation.
OPERATION DRAGON SLAYER IS A GO
BITCOIN CASH IS THE REAL BITCOIN
>Implying we're not nearly there
Once Apple/Amazon/Google gets enough cash to buy one of the other, shit's going to get silly fast.
so america is one big ponzi scheme. hmmmmmmmmmmmm
Literally yes. All of America's greatest periods have been achieved through slavery (or worse) conditions for those actually doing the work.
yep. Oligopolies and monopolies are a result of human desire to have more despite it not being in the best interest of society. monopolies being able to determine their own prices creates a loss for society since the product is not finding a fair market value. free market has no barriers to entry and no monopolies
Open capitalism != Free market. you'd think Jow Forums would understand the economy, but fucking no
oh so you want regulation in crypto? government intervention perhaps? hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
Remember the time where all the car manufacturers dismantled all of America's public transport so people would buy their cars?
Good times.
>non sequitur logic
no, I want proof of work to die so there won't be a monopoly on mining hardware. that, or for bitmain to actually have some competition, so they can't mine supreme profits while people who are mandated to use their old hardware are left struggling until the next gen is released (at lower efficiency thanks to difficulty inflation, due to bitmain).
but you're stupid, leave my thread
No one is forcing you to use PoW
any consensus algorithm can be gamed by either having more money, or hashing power, or something else, stop being a bitch
Dont worry you get a participation trophy too
i heard bitmain doesn't sell its btc though. is that true?
Jihan got KEKED. If he had any unilateral power segwit would have never happened idiot.
haha corecucks on suicide watch
For anyone not following
en.m.wikipedia.org
They're forcing me to deal with a system that is controlled by PoW algorithms. you think im rich enough to mine btc? not even BTC miners are rich enough to mine btc, save for bitmain. and it affects the entire market.
>any consensus algorithm can be gamed, stop being a bitch
>2018
>being ignorant
>this system is broken, but another system might break too, so let's just leave it how it is
i told you niggers
>They're forcing me to deal with a system that is controlled by PoW algorithms.
No one is forcing you to do anything. You are free to be a nonparticipant or use coins with the algorithms you like. PoW may not be pefect buy it is better than one in which the only way to get coins is to purchase them from founders/whales.
Can someone find a single scenario where bitmain would come out ontop financially if they performed a 51% attack?
Bitmain has no interest in killing bitcoin intentionally, they would much prefer it die naturally
They better hope bch takes its place or else they lose billions in company revenue and private stock.
>You are free to be a nonparticipant or use coins with the algorithms you like.
I plan to. I just happen to be all in bch at the moment despite disagreeing with the algorithm and business tactics because I anticipate a malicious action based on recent events which will make a monopoly a lot of money.
Checked. I doubt a 51% attack is the intention. A chain death spiral is a more likely outcome. bitmain could maintain it's public image and give a triumphant "told ya so" despite orchestrating all of this.
Who's to say this crash hasnt been in part bitmain reducing it's BTC position in anticipation of a movement?
only if they made extremely large short positions. If you 51% combined with a double spend the address will be black listed by every exchange.
Even with the extremely large shorts what is that 50-75 million max? Their company brought in over 3 billion last year. They'd be throwing that away, most likely wouldn't get that money off exchange and would suicide by 2 bullets in the back of the head.
Also forget to mention their bare minimum tens of millions in asics would all be worthless.
You are seriously fucking retarded and Jihan is playing with you bagholders (assuming you aren't trolling). Jihan is smart enough to know the game theory includes the fact there is no such thing as crypto, only Bitcoin matters, there is no crypto after Bitcoin, it goes against it's own self-interest economically. It also goes against it's own self-preservation, since MP and co would deliver a guaranteed "accident" on his ass. Not smart.
They created their own backup plan if BTC were to fail. They created the "next best thing" and are now setting BTC up for failure. they don't need to actually attack the chain; they're just using their immense hashpower, hardware monopoly, and likely immense amounts of BTC to drive out other miners (inflated difficulty, reduced profitability due to lower price, and unfair hash efficiency advantage to not suffer the same market consequences as other firms) and doom the chain.
Their operations will be safe *if* BCH flips. Wu and Ver will be some of the richest men in history.
just want to say i unironically enjoy reading you destroy everyone else's arguments with impeccable logic, user. may your shitcoins moon in the golden bullrun
Bitcoin has no long-term value for miners. He has no reason to love it if it wants to shut miners out with sidechain bullshit
Can see that all being very possible but I don't see how ver would have any part. He's been saying the exact same shit for 5+ years now. If he stuck with btc he would be a lying fraud.
See BCH uses the same algorithms, their ASIC market is secure.
Appreciated user. someone has to post some quality on this fucking board, and milkers don't count (at least not this recent scamcoin milkers coordinated shill)
flippening seems inevitable but what is more reasonable is new stablecoins taking its place
Tether dies in this scenario too i'm guessing? Or can it just latch onto bch?
Roger Ver has a finger in every pie, so to speak. He owns Bitcoin.com, which is ironically a Cash advocate site. He is affiliated with Wu and
>forgive me for the wiki quote
In June 2016, Ver was appointed the chairman of the Cryptocurrency Advisory Board for MGT Capital Investments. MGT aims to improve cybersecurity and is headed by John McAfee.
Basically, you can see Ver is seriously in on all of this if you give it a cursory glance
Miners can do anything they want, including leaving. It would just mean miners left. Difficulty will make it interesting for someone else to take their place. Someone will always find profit. But if as a miner you are actively going against Bitcoin, you are fucking with very dangerous (and wealthy people), outcome not so good.
Lol, imagine if crypto was just stable coins? All the hype would die off immediately.
Flippening means the transactions will be extremely slow. Tether will get pumped but a lot of people will be stuck with btc if the chain freezes. They will probably go to bch short term but it makes the most sense to ditch the bitcoin dominance and feed into a trustworthy stablecoin like the dai or tusd or something that altcoins can have their own markets instead of depending on speculative bitcoin/bitcoin cash
It doesnt make sense that if a coin has a successful adopted product that it has to be traded against a depreciating asset like bitcoin
No, because the biggest whales in Bitcoin (bigger than Wu and Jihan combined) also own their share of BCH and they haven't even dumped it yet. If they wanted, they could dump, collapse the market and thus economically solve the fork forcing miners back into Bitcoin.
Sure, it makes total sense to ditch the only true inmutable store of value in favour of fucking tether.
You fucktards are going to lose all of your money in this, seriously.
I mean in the event that the hash power switches, people will try to move to BCH if that is his move. With large control of the network he can either stay on bitcoin and abandon bch or try something risky and switch
>bigger than wu and jihan combined
what did he mean by this