November 2018.
Two different Crypto approaches.
Satoshi Nakamoto obliviated?
Even though it may seem to be merely a fight within the Bitcoin Cash realm at first sight, I think there is more to it. But first let me enlighten you about the BCH war, currently raging. It started when mister C. Wright announced a new Bitcoin Cash version, called Satoshi's Vision, with the hardfork going live in november 2018. Where the nChain company would take care of developement. And CoinGeek taking care of the sponsoring.
Now you might wonder what happened to the original Bitcoin Cash and its developer. Well, that one is still being developed and will have its own hardfork. According to mister Wright this original branch of Bitcoin (ABC) Cash will die out. Where he seems to forget the CoinGeek pool, if miners keep supporting them, only has about 34% behind it. But as long as one shouts and curses loud enough, there are always people who fall for whatever is being stated.
No Bitmain and ViaPool
This is the slight miscalculation mister Wright, nChain and CoinGeek seem to have made. By far the largest support is still behind the original Bitcoin Cash, BCH, blockchain. And a large group of miners might leave CoinGeek. Because mister Wright refuses to have replay protection added to the Bitcoin (Cash) Satoshi's Vision version. Making the strange claim that there is not going to be a split, therefore it is not needed to do so...
Well, it could be that the majority of full nodes stays behind the original Bitcoin Cash. And that most of the miners support it. That means BCH will just have a hardfork and will move on. Where the nChain hardfork, called Satoshi's Vision, will fork off into a blockchain split. Yet most exchanges then will probably refuse to support it, because of the security risks involved. While Bitcoin (ABC) Cash, the original BCH, might go for 2 or even 1 minute blocks.
No split? So what about BTCC?
It is strange, I think, that mister Wright seems to be in denial that this hostile take-over attempt would not cause another blockchain split. As if either hardfork being it the ABC one, or the SV one, could not move on substantively, besides each other. Well, that seems like muteny to me. That means mister Wright, nChain and CoinGeek are attacking Bitcoin Cash, BCH, in an attempt to get a hold of the longest chain.
Other hardforks, like Bitcoin Core, BTCC, split off from Bitcoin Cash, BCH, making sure it was running substantive. And no it is not Bitcoin, BTC, there is actually a Bitcoin Cash split off called Bitcoin Core. It has 1 minute blocks of 8 MB, setting its capacity 80 MegaByte per 10 minutes. Way faster then Bitcoin Cash Satoshi's Vision {BCS}, even though that one will have 128 MB sized blocks. But BCS just could lose it all.
The other battle...
What it is about though, as seen from my point of view, is much more than just a fight in the Bitcoin Cash realm. On a larger scale it is a war between the decentralized, free and open sourced collaborating kind of Cryptos and the banking monetary governance {bmg} system supporting kind, moving towards central control, patents, regulation and so on. Even making the bleeding claim that it is Satoshi's Vision...!
Satoshi Nakamoto used a sentence in his Bitcoin, BTC, sourcecode that showed how much he (she/ they) 'liked' banks: const char* pszTimestamp = "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"; Mister Wright claimed that he is going to restore the original Bitcoin (Cash), Satoshi's vision... Yet, he states there are some things that need to be changed...!? Because according to him, nChain and CoinGeek, Satoshi Nakamoto made a few little mistakes.
Central control coming in.
Right, I call out bollocks when I notice it! Mister Wright is a banking monetary governance system supporter. That is part of his business and he is open and honest about it. His socialistic politics are based on capitalism, all within the banking monetary governance system. If you want to annoy him, try calling him a libertarian, a voluntaryist, an ancap, or something like that. His apparant goal, a potential 1.5 trillion USD market, pure business.
He denies that Satoshi Nakamoto his Bitcoin, BTC, creation was about decentralization. According to mister Wright it will all move towards centralization, because only multinationals, banks and governments can offer the needed infrastructure. That is business and competition gaining control over Bitcoin. From his vision though, not the one of Satoshi Nakamoto at all! No matter how aggresive he tries to sell that delusion, it is still a delusion.
The endgame for Cryptos?
It is a trial and error thing that the banking monetary governance system has been trying to enforce their centralcontrol over Cryptos. And as it seems that there is a Trojan Horse ready to enter the Cryptos castle. Its name is Bitcoin (Cash) Satoshi's vision, B(C)S, and it is about to cause a major split in the Cryptos realm. As some will actually want the banking monetary governance system in, cheering for mainstream adoption and regulations.
Missing out on the essence of Bitcoin, BTC, as created by Satoshi Nakamoto. Or in his(, her or their) own words: "I've developed a new open source P2P e-cash system called Bitcoin. It's completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust." It is self regulating, trustless, secured by complex crypthographic mathematics and completely decentralized. Any other 'true vision' claim seems delusional to me.
It will happen anyway.
There will be another hardforking blockchain split for Bitcoin Cash, BCH, in november 2018. For a part caused by a hostile take-over attempt with the name of Bitcoin Cash Satoshi's vision, BCS. That one seems to refuse to secure itself and the other hardforks of Bitcoin Cash, BCH. As it probably wont get any replay protection build in.
To me this is a lost case as most nodes and miners can be expected to stay on the original Bitcoin Cash, BCH, blockchain. Which you may have noticed I did name by the its given name, even though I prefer Bitcoin, BTC. There is something bigger at stake though I think. Will the banking monetary governance system gain central control over Cryptos, or will they truly stay decentralized, free and open sourced, for all of human kind. The way Satoshi Nakamoto's vision really created Bitcoin, BTC, to be is the last one, I believe. And it really looks like there is going to be a much bigger split than just the one Bitcoin Cash, BCH, is facing in november 2018.
May the Cryptos be with us!
Is Bitcoin going to lose its true purpose?
Image CC0 license.
Source for Bitcoin BTC TimeStamp:
https://github.com/bitcoin/bitcoin/blob/0.12/src/chainparams.cpp
Source for 'decentralized' case:
http://p2pfoundation.ning.com/m/discussion?id=2003008%3ATopic%3A9402