The Bitcoin Diaries: Tales from the Great Hardfork War of 2017

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The generals kept on yelling hashpower, we need hashpower! In the end it wasn't about damn hash rate or even about who had more nodal legionaries. Valuation and branding are what won us the war…

A war that started when the usurper Unlimitus decided to forsake consensus and declare holy hardfork to seize the throne of Cryptonia from Corenius the First.

Once the split started there was not going back. The two coins almost immediately diverged in value. The market oracles at Bitfinex had given us favorable omens, with core tokens up 4x against the tokens of our Unlimitus foes. As predicted the miner mercenaries of Unlimitus, quickly saw the coin of the Usurper drop to 1/4 the strength of Corenius.

We all bled and lost in the battles that followed. Both core and unlimited would drop in price, but unlimited fell further and faster. Once they were behind in valuation against core, the incentives all started to push the miners back to mining core, back to Corenius. This in turn caused unlimitus coins to fall further and faster against the unstoppable core, the cycle fed upon itself. The two coins could never live in harmony, each was a direct threat to the other, both trying to claim the throne of our Great Cryptonia!

But branding, aye branding was our secret weapon. Generals of the major Exchanges had already said they would treat Unlimitus as an altcoin usurper should he move against Corenius. Most of the common folk who owned bitcoin didn't really understand or care about the technical details, all they'll knew is BTC is bitcoin, and BTU is badcoin.

After two weeks of bloodshed, when the coin of Unlimitus was trading at less than 20{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} of a Corenius coin, and with miners abandoning Unlimitus en masse, and bugs in the poorly developed unlimitian code being sporadically exposed… at some point, the institutional investor wizards and whale naval units started to dump the Unlimitus coin they had owned, either converting it back into Corenius or straight into fiat.

The civil war ended in a matter of weeks, and with the once and future Bitcoin secure, peace and harmony returned to the land of Cryptonia.

submitted by /u/Platypodes_Attack
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Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $19269.76 USD  (via Coinbase)
1 ETH = $1305.67 USD  (via Coinbase)
1 LTC = $52.99 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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