New Mining Tax Proposal is a Reflection of SegWit2x bait and switch from Blockstream.

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Avatar for Python834
4 years ago

What we will discuss here is the parallels between the new mining tax proposal by BTC.top and the SegWit2x scam from BlockStream.

Background:

SegWit + 2x is a scaling solution that caters to anti-big blockers (minority) and big blockers (majority). The anti-big blockers proposed to implement SegWit "temporarily" through "soft fork", and then increase the block size a couple months down the line, but instead used their power to destroy 2x integration. This gave rise to the Bitcoin Cash fork.

See some predictions on this bait and switch proven right in hind sight: https://www.reddit.com/r/btc/comments/6hloo5/reject_segwit2x/

Development funding is incorporated into Blockstream, which now has complete control over the development (or lack thereof) of BTC. Blockstream now uses its funds to enrich Blockstream employee life styles at the cost of investors, social attacks on other competing block chains, and developing ways to syphon miner revenue into their own pockets without regard to the security of the corresponding blockchain (lightning network + Blockstream products).

Parallelization:

New mining tax proposal is a development funding solution proposed by mining pool operators (minority) that forces a tax of some arbitrary value on miners of that mining pool "temporarily" through a "soft fork", and then promises change its "parameters" a couple months down the line if they "don't work out". If these minority group goes against this "promise", then this will give rise to the "Bitcoin Cash 2.0" fork.

Development funding is to be incorporated into "Blockstream 2.0", which now has complete control over the development (or potentially lack thereof if this does go through) of BCH.

Results If "Blockstream 2.0" succeeds:

Heres an old quote from reddit /r/btc:

"As long as more honest miners exist, the network survives and the honest miners win. If dishonest miners overwhelm the honest miners, then the honest miners can hardfork or wait until the dishonest miners run out of money, and the honest miners win. Winning means keeping the community alive. Networks exist because the community keeps it alive, no matter if the network shifts locations, changes names, etc. As long as there is at least 2 people using the network, it has value. As you can see here, attacking a network does not kill the network. The best way to kill a network is to attack the people using the network because the network is built from communities. If you've read from the side bar, you'll see that BlockStream is successful in attacking BTC by kicking out the honest developers and honest users of the BTC network and replacing them with moon lambo zombies in r/Bitcoin and spreading disinformation. As a result, honest developers and honest users won by creating and using Bitcoin Cash (BCH)."

The BSV split was a no brainer, and very little from the community was lost. However, if the BCH network splits due to "Blockstream 2.0", it is guaranteed that at least 50% of the community will be destroyed. The amount of work lost due to this split would mean setting back bitcoin another 10-15 years, and many of us might be dead by then.

Good bye adoption, good bye to the Bitcoin white paper.

The bankers have won again.

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4 years ago

Comments

You are correct in the title, but you seem to miss the subtlety.

The same people suggested SegWit2X that suggested this mining tax. The reason is likely the same.

They force the people that want to do bad to play their cards. And play they have. We saw back then that the BTC people followed different ideals, today we see that the ABC devs follow very different ideals.

I wrote more here: https://read.cash/@SharkySharkdog/you-lead-and-maybe-i-will-follow-ff383504

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