The main reason(s) why the BU coalition is blocking segwit according to one of their main backer

Ticker

1 BTC = $38280.34 USD  (via Coinbase)
1 ETH = $2257.78 USD  (via Coinbase)
1 LTC = $133.36 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Today, I was discussing BU with somebody who claims to be one of the main persons originally behind Bitcoin Unlimited and also claims to be part of a specific group of early adopters including Roger Ver and Olivier Janssens. This person is followed by all of them, including Jihan WU on twitter and is often participating in the "debate" so I'm inclined to believe him.

Although most of his first arguments are just different variants of critiques against Core, I tried to get the bottom of it and I'm pretty sure I found it.

After hours of discussion, his main argument was that was that we need to scale bitcoin to "billions". So when I pointed that to do that we need both increase in blocksize + onchain optimization AND layer2 scaling via smartcontracts (Such as lightning and others), he finally conceded that their group is just paying lipservice to offchain but that they think that (without being able to explain why) smartcontracts were diminishing the value of Bitcoin as money. This seems to coincide well with the fact that Roger Ver describes fixing malleability as a "non-urgent" problem. They see both fixing malleability and the new weighting of transactions in segwit as enabling of smartcontracts vs the simple use of Bitcoin as "dumb digital money" that according to them would make it more valuable.

So there you have it: The only reason for Bitcoin Unlimited existence is to block segwit. So If you find yourself not wanting to choose "camps", don't expect any compromise such as BU+Segwit from Bitcoin Unlimited side. That's the only reason for Bitcoin Unlimited existence in the first place.

As to why some mining pools support this camp ? It seems that these pools might be afraid of competition of layer 2 such as lightning AND they also fear segwit will enable privacy enhancements as explained by Huang shiliang on 8btc a while ago. As you can see here:

Huang Shiliang is sponsored by an anonymous doner (I'd bet Jihan Wu) to write theses anti-segwit, anti-lightning, anti-privacy articles. As you can see here:

There you have it!

submitted by /u/Taidiji
[link] [comments]

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 = $38280.34 USD  (via Coinbase)
1 ETH = $2257.78 USD  (via Coinbase)
1 LTC = $133.36 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Leave a Reply