The BCH balance of terror

What some miners seem to have forgotten about the network.

Decentralized power

Another smart part of the whole Bitcoin setup is the decentralized part of it. Miners who believe they only can 'milk' the network probably have listened to the wrong prophet. There is more to Bitcoin (Cash) than just greed, or a so called economic incentive. With the Difficulty Adjustment Algorithm (DAA) Bitcoin Cash has moved away from the holy whitepaper, that includes Satoshi's Vision. Yet Bitcoin fanatics do seem to dislike irony, so I'll leave it here for those who do get it.

By this time you and I have become familiar with the attacking side of the Bitcoin Cash war. Dr. C.S. Wright, the man who claims he might be 'Satoshi Nakamoto' but fails to simply proof he is, announced the attack and he wants to take over Bitcoin Cash, only using mining power. With the help of his rich buddy and a few mining pools. While laughing at decentralisation, trying to make full node supporters look ridiculous. Now that might be considered quite a bad move.

The anti-Satoshi

If Dr. C.S. Wright could be considered anything connected to the legendary 'Satoshi Nakamoto' than it is that he is the anti-Satoshi. He is absolutely not the man who developed and programmed the original Bitcoin. First I did doubt, but after diving deeper into the matter I even started to believe he is a banking monetary governance {BMG} system mole. Those who want to 'privatise' Bitcoin Cash {BCH} and put it under central control will support Satohi's Vision {SV}.

And those who now laugh at Bitcoin Cash, trolling the shit out off it, might reconsider that. Do the Bitcoin 'there is only one BTC' fanatics really believe that Dr. C.S. Wright will end this war he started? The biggest morrons are those BTC purists miners who help him try crush Bitcoin Cash ABC by joining a Sharkpool. Next up for that man is probably getting rid of the 'Cash' part of the name. You may mark my words. As Bitcoin {BTC} could be next in his blitzkrieg... Luckily he is somewhat of a bluffing bigmouth though.

Bitcoin BTC is Bitcoin

The way this whole big blocks bullshit began to divide the Bitcoin realm was badly thought through. Some speculative business people got very impatient and they took a gamble. "Let the miners decide!" And nodes did not count, again there is some irony here, but I think most big blockers will refuse to see it. Normally, in case of an attack on a blockchain the longest chain with the most accumulated hashing power will 'win'. It is not only the longest chain. As a hardforking splitting clone that has pulled a trick on the difficulty adjustment part could easily outrun the one it tries to attack.

This is the foul play difficulty adjustment part that the original hardforking Bitcoin Cash {BCH} had build in. That caused it to go way too fast at first. Basicly it lost its claim to be the one and only real Bitcoin right there and then. But I think the holy whitepaper can be used in any way to suit anybody their version, vision or ideas. Almost like yet another religion.

Yet, BCH broke with this original Bitcoin principal (Source Bitcoin Whitepaper:

1. Calculations
   We consider the scenario of an attacker trying to generate an alternate chain faster than the honest chain. Even if this is accomplished, it does not throw the system open to arbitrary changes, such as creating value out of thin air or taking money that never belonged to the attacker. Nodes are not going to accept an invalid transaction as payment, and honest nodes will never accept a block containing them. An attacker can only try to change one of his own transactions to take back
   money he recently spent.

The BCH version is the attacker

According to the original Bitcoin Whitepaper the hardforking Bitcoin 'Cash' broke an important rule. No matter if there was supposed to be a limit on blocksize or not, or if some script operations should be left turned off, one rule was broken. The attacker scenario, actually as described in the Bitcoin Whitepaper, by the legendary real 'Satoshi Nakamoto', within point eleven 'Calculations' does fit the split of 2017. In mining power and node count, the absolute winner is Bitcoin {BTC}. Even though the splitting BCH fork tried to cheat, it lost...

And I find it very difficult not to go all the way sarcastic on the whole big block charade. Especially because it looks like those who attacked Bitcoin {BTC} (please read the Whitepaper, I do strongly advice you to do so) are now under attack themselves. If you still somehow belief that Dr. C.S. Wright is even closely related somehow to 'Satoshi' then I give up trying to convince you. The 'yours' network seems to be a great place too, or so I heard. Damn, I did go sarcastic there... But the Difficulty Adjustment Algorithm {DAA} is an attacking tool. If that cheat and replay protection had not been build into BCH, it would have died out already by now.

The dumber chain?

Villains are often portrayed as narcissistic megalomaniacs in movies. In real life they are not that much different I guess. Often they are brilliant, but they also have some clearly lose screws. Drama in their past, the whole world to blame and be sure to make no mistake that everybody will pay! Add the laugh of a maniac here and you might get the picture. "Do you know how much power I have, do you know how rich I am?" Yawn, sure, bring it on.

Haughtiness will come before the fall. Somehow that seems to fit this whole BCH drama. And apparantly a bunch of miners still do want to lose money by mining the innitial Bitcoin attacker. It is almost 35% more profitable to mine Bitcoin BTC, so how about that for an economic incentive? It is almost becoming fun to watch the former attacker now getting attacked. If it were not very sad as well. Because I do belief Mr. R. Ver wants to create a better world for everyone, with the help of Cryptos.

Nodes might be key

Even though I do consider Bitcoin Cash a classic example of an attacker, as brilliantly described in the Bitcoin Whitepaper, I still think the ABC version could survive. Because Dr. C.S. Wright does seem to forget the importance of supporting nodes. He has been sitting on his high horse all the time claiming only miners do matter. But what if his huge blocks are only accepted by 5 percent, or less, of the network? It would only work inside a centrally controled infrastructure, the end...

Now even some snake seems to be cheering for the SV attack on BCH. But that is what they do, so never trust a snake inside of Bitcoin paradise telling you to eat the SV apple. But besides that BTC sell-out, what is supporting this attack on Bitcoin Cash? Mainly it is backed by miners that see an opportunity to make money. It is a gamble, speculating they will make big bucks with big blocks. But they are in minority compared to the nodes supporting ABC. And that is the power of a decentralized peer to peer network.

Get them 128 MB blocks send through?

Just to be clear here, I sold my 'free' BCH and bought back real Bitcoin {BTC} with it. Because, like I proved in this article, the forking spliting clone BCH was an attacker, as described in chapter 11 of the Bitcoin Whitepaper. And now it is under attack itself. By an attacker that claims to be a Bitcoin purist but still fits the image of an attacker as described in the Bitcoin Whitepaper.

Yet Bitcoin Cash, the original BCH version by ABC, might still survive. Why? Well, because Dr. C.S. Wright and his co-conspirors might have a majority in mining power, they have a minority in nodes. BCH ABC transactions will propogate way faster over the Bitcoin Cash network. And thanks to the Difficulty Adjustment Algorithm {DAA} only a few miners are needed to create blocks in time. Which will be shared much faster on the Bitcoin Cash ABC supporting P2P network.

No nodes, no blocks added, no money

Suppose that most business using Bitcoin Cash {BCH} do keep the ABC version node. What use would the SV version serve. It almost has no nodes to support its network. And SHA256 mining power support can be switched over in a jiffy. Yeah, great those huge 128 MegaByte {MB} blocks, with just stress test transactions in them? While some may still believe 'the bigger, the better', others might actually support quality over quantity...

My bet is still on the one and only true Bitcoin, also known by its ticker: BTC. Bitcoin Cash attempted an attack on it and lost, so it split off onto its own chain. And already BCH had its own split, now known as Bitcoin (Cash) Core, or BTCC. With now an attacker declaring war on the former attacker it looks like they are going to destroy themselves in the proces. Or in other words, Bitcoin {BTC} might come out off this as the absolute winner. As most miners will probably choose profit over colateral damage very soon after the 15th of november 2018.

It is really a 'b' kind of cash

If there is something that this whole BCH charade is proving to the outside world than it is that it is really a 'b' cash choice. Like there are B-movies and B-products, or somebody who is a wanna B 'Satoshi', but who proved he is anything but that. Most prove did not come from refusing to jump through 'hoops' signing keys. Or by moving some of the Bitcoin believed to be mined by the real legendary Satoshi. Nope, it did come from becoming an attacker like it was described in the Bitcoin Whitepaper.

Is the real Satoshi dead? Well, I seriously doubt if the real one is still alive. Or it is true, Satoshi moved on to other things and cannot even be bothered anymore. Otherwise it would be quite simple to destroy the value of any version, by moving just a few of the first mined ones. But it did not happen, nor do I expect it to happen. And then the only proof left might be found in the Bitcoin Whitepaper.

The end game

It is about an attacker trying to get the longest chain, but will not have the most accumulated hashing power. This is where Bitcoin Cash can be confirmed as an attacker in 2017. And using the same part of the Bitcoin Whitepaper now the next attacker can be clearly seen as the so called Satoshi's Vision. And I'd suggest to just let them fight. Somehow I think this is going to crash the price of BCH. And both fighting camps will going to need their DAA very badly. While Bitcoin BTC might go to 20K in value.

Oh you sweet irony, how I love your wittiness...

Bitcoin Cash, the end?

Digital drawing license cc-by-sa @oaldamster.