BTC is "Bitcoin" only because a group of centralized exchanges gave it that ticker.
In other words, it was fixed.
A few dozen people decided that the Segwit fork would be "BTC" and the version that worked the way Bitcoin had always worked would become an "altcoin."
In other words, it was fixed.
A few dozen people decided that the Segwit fork would be "BTC" and the version that worked the way Bitcoin had always worked would become an "altcoin."
There was no level playing field.
There was no hashwar.
The market did not decide.
The market was not given a choice.
It was fixed.
There was no hashwar.
The market did not decide.
The market was not given a choice.
It was fixed.
Remember when Faketoshi split BCH?
Even though he was a total fraud with a completely bogus motivation for causing a split only two weeks before code freeze, exchanges still gave that bozo a level playing field, renaming BCH into "BCHABC" and "BCHSV".
Even though he was a total fraud with a completely bogus motivation for causing a split only two weeks before code freeze, exchanges still gave that bozo a level playing field, renaming BCH into "BCHABC" and "BCHSV".
Remember when the Taxman split BCH?
Even though THE ENTIRE BCH ECOSYSTEM rejected the "miner tax" the exchanges still gave the Taxcoin a level playing field, renaming BCH to "BCHABC" and "BCHN".
Even though THE ENTIRE BCH ECOSYSTEM rejected the "miner tax" the exchanges still gave the Taxcoin a level playing field, renaming BCH to "BCHABC" and "BCHN".
But when - after YEARS of debate - Bitcoin Core failed to get consensus on Segwit, and big blockers mounted a defensive UAHF, did the exchanges rename Bitcoin into "BTCORE" and "BTCASH" so that there would be a level playing field and a market decision?
No.
THE FIX WAS IN.
No.
THE FIX WAS IN.
So despite years of good faith efforts to reach consensus the exchanges didn't even offer the same decency to us early adopters of Bitcoin: a Peer-to-peer Electronic Cash System that they offered to an obvious scoundrel and a rogue dev who pissed off an entire ecosystem.
That's why, when Jeff Garzik wrote "Bitcoin is Being Hotwired for Settlement" he should have instead written "Bitcoin is Being HIJACKED for Settlement."
medium.com/@jgarzik/bitco…
medium.com/@jgarzik/bitco…
What's the point of this?
The point is simple:
Now that we've seen the failure of the #Bitcoin #Segwit scaling plan and the abysmal <0.02% adoption of the #LightningNetwork it's a good time to remind everyone that the market NEVER PERFORMED BASIC PRICE DISCOVERY ON THE PLAN.
The point is simple:
Now that we've seen the failure of the #Bitcoin #Segwit scaling plan and the abysmal <0.02% adoption of the #LightningNetwork it's a good time to remind everyone that the market NEVER PERFORMED BASIC PRICE DISCOVERY ON THE PLAN.
The original plan was always the better plan, but in the post-2017 rush to "buy Bitcoin" investors were sold a bait-and-switch product.
The original #Bitcoin is still available at an absurd discount. It's called #BCH #BitcoinCash and it works the way Bitcoin was supposed to work
The original #Bitcoin is still available at an absurd discount. It's called #BCH #BitcoinCash and it works the way Bitcoin was supposed to work
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