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RE: r/bitcoin has gone full North Corea

in #bitcoin7 years ago

Economics is not about rationality, neither is it about what people want.
Economies can be driven by FUD to a large extend and manipulated with emotions.

A lot of people do not want SegWit2x. A lot of big players in Bitcoin want SegWit2x because it enables decentralization and cheating to improve profits.
Ergo, Chinese Miners are obviously going to support SegWit2x because they potentially manipulate the tokens by removing signatures from the Block when it suits them, as there is no definite witnessing requirement for blocks with the SegWit2x solution.
Likewise, if you Bitcoin Cash is more profitable to mine, miners are going to act in their own self-interest to improve their yield.
This is the exact opposite of what Bitcoin is supposed to be.

@transisto: I literally agree with everything that is listed in the comment you linked.

I view it as a poor attempt to manipulate the Bitcoin community, but as I said it is ultimately going to fail. I think that Bitcoin community is very aware of the problems that resulted from government interference, corruption etc. and not stupid enough to walk into an obvious trap like that. FUD to manipulate emotion and market value. It ultimately always ends up terrible, so I am glad that we have the blockchain in place to prevent blatant cheating. I am also proud of the Bitcoin community and its level headedness and its spirit to make the world a better place.

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I view it as a poor attempt to manipulate the Bitcoin community, but as I said it is ultimately going to fail. I think that Bitcoin community is very aware of the problems that resulted from government interference, corruption etc. and not stupid enough to walk into an obvious trap like that.

Well, if someone with vested interest in fiat was to manipulate the Bitcoin community, I believe they would try to divide the community and manipulate both camps to bitterly oppose any kind of compromise (BIP-100, BIP-102, Hong Kong agreement, SegWit2X), as well as inventing ideas suitable for derailing the Bitcoin project (such as BIP-148 and Bitcoin Cash), and manipulating people to embrace such ideas. Oh. We have already constantly been going into the trap for two years if not more.

Well, there is one important distinction between the attempts of manipulation now and how it was in the past. The blockchain makes it possible to roll back mistakes. Hardforks do not destroy Bitcoin core and Bitcoin core can be maintained indefinitely. If it maintains the highest structural integrity it will always be the default fall-back option for everyone.