COBRA IS JUMPING SHIP

medium.com/@CobraBitcoin/thoughts-on-bitcoin-as-a-settlement-layer-c40cc1415815
this is the most surreal thing I've read in months. what did he mean by this?

Other urls found in this thread:

youtu.be/AkbSrmsYJ9c
youtu.be/UYHFrf5ci_g
bitcoin.org
bitcointalk.org
youtu.be/hO176mdSTG0
twitter.com/AnonBabble

more and more people will join team BCH. it is an economic certainty imo

seems like leaders of the Bitcoin community keeps edging towards the fire escapes

He figured out the scam.

Segwit was solely designed to decouple the block from the private key so that they can control people’s coins without their private keys and steal Satoshi’s coins.

Bitcoin Cash retains Satoshi’s original protocol with private keys inside the block and is the true Bitcoin.

The conspiracy was leaked here:

youtu.be/AkbSrmsYJ9c
28:50

“I think Satoshi’s a sellout”
“And I think that he could burn his private keys now and not risk the future economy of the world , with an unknown party holding 10% of it”
“Who may have given those keys to his kid, and his kid might be the next HITLER”
“Or he may have gotten a mental illness and gotten whacky himself”
“Or he has some other socially dangerous beliefs”
“He’s a variable that we’re unaware of”
“He could just burn his keys”
“He could be renouncing his control of his keys but he’s not.”
“Which means he’s either a bitch or he’s dead”
“Those are the only two options I’m aware of”

- Bitcoin core dev

if btc increases blocksize now I've been scammed hard by bch

"You’ll be pushed to other layers where you are economically insignificant and powerless to have any say in the protocol. I think this talk of having layer 1 be a settlement layer is promoting centralization, but in a very different way. It’s taking economic power away from the ordinary user and giving it to banks"

>implying people can have economic power on one layer but suddenly lose it by being "pushed to other layers"

No, people are either big fish or they aren't. There is no middle ground that changes depending on the number of layers used.

Now we’re you scammed?

One is segwit the other is the satoshi protocol.

He's part of the scam you dumbcunt, he's probably theymos as well. These kikes have realised they can't control bitcoin so they're going 10x and exit and leave normies and /r/bitcoin retards with the bags.

I hope Bitcoin Cash succeed just to see Richard Heart lose everything.

WTF IS HAPPENING??!?!!??!

true but no one is using segwit addresses now let alone if they actually increase block size

wouldnt he have just as many bch?

"noob" here, is increasing block size a long term solution ?

The only long term solution is killing yourself.
But other than that, yes.

no because most of them are sheeple and follow what core tells them to do. most sold, smart ones kept

BCH increases Block Size as it is needed, its not just from 1mb to 2mb or to 8 mb.

The size is allocated as it is needed.
So yes, it is a long term solution.

can't wait for shitcoin to choke the sooner the better, turned into the biggest scam of all time

:(((((((((((

Bitcoin Cash will win this war.

Remember this.

He's holding his BCH, he only gets his stupid viewers to sell like all Core cronies

I think Bitcoin Cash will overcome BTC, but I fear that once BTC goes down it will bring the entire market with it, 95% of the people invested probably dont even understand the concept of a Fork let alone why a Fork would be needed.

Core is boomer tech

The butthurt on Twitter is going to be incredible. I personally follow Max Kaiser for this reason, because he’s a fucking moron.

The media is covering Bitcoin Cash quite well, I think despite Bitcoin going down, BCH will rally as everyone is still looking to invest in the tech but BCH needs trading pairs like now or ETH will steal the show.

what would stop people from putting in their money back in straight away and get cheap coins?

fees

newfag here.
What about the Lightning Network? some guys defend btcore in the comments saying that thing will solve the problems the article talks about.

that would be healthy. its been parabolic for a while now needs to correct

why not buy alts then

My porfolio consists out of 80% BCH at the moment. Bitcoin Core will sink soon

>Investment banker reporting in

Wow, I had lengthy conversation with him just a few days when he banned me from /r/bitcoin

Looks like he's starting to understand what evil shit Blockstream is

The flippening

Deluded

If you watch the interview I linked it seems like a Richard Heart implies that BTC Core devs sold all their Bitcoin Cash in an attempt to tank Cash and thus destroy it.

You get this part of the conspiracy from the portion of the interview where he’s blaming Roger Ver for keeping the price of Bitcoin Cash elevated by using his segwit coins to prop it up.

Perfect timing. Ardor is launching its mainnet in about a month, and solves the scalability issues right away. In a couple of years it'll outcompete both BCH and ETH.

Personally I think it will only be useful in a handful of cases. This also still requires the users to take action. It could take years after launch before it sees a significant userbase.
Said launch may never even happen either, since Lightning relies on unsolved problems in computer science (its routing algorithm).

I'm starting to believe this. BTC can't possibly grow anymore without eventually crashing itself to oblivion anyways

Realistic

There are no scalability issues you idiot. I ran BTC Core wallet on my computer back in 2011 and I can run it 2017 on my laptop just fine. Are you people delusional?

You may also find this video insightful: youtu.be/UYHFrf5ci_g

Also if the network gets congested and you have funds in the Lightning Network they will get sent away to other users without your permission. Segwit is retarded.

The delusional one is you corecuck

>Ardor

not a fork of BTC, it's not gonna compete.

What?

Did you read my post?
THERE ARE NO SCALIBILITY ISSUES IN INCREASING THE BLOCK SIZE.

PERIOD.

Moore’s Law rules supreme.

Block size is irrelevant once they develop block sharding. So in a few years you can have raspberry pi's run on blocks that are 1 petabyte in size no problem. Sharding literally solves all of Bitcoin Cash's problems and the "problems" Bitcoin Cash has won't matter for another five years so there is time to figure out how to implement sharding.

Why did you say there are no scalability issues and then mention running BTC Core without problems? If you're talking about BCH sure, but I don't get why mention Core.

test

youtu.be/UYHFrf5ci_g

How the banks bought Bitcoin, the lightning network.

Increasing the blocksize along with all the other changes that they have planned is the best that any coin will be able to do for now.
Remember that BCH is on the bleeding edge. It's not some shitcoin with methhead devs that don't even own any coins.
BCH has a team of 40+ PHD scientists working on scaling and other issues full time, thanks to Satoshis coins (being able to pay salary).
Honestly the best thing to do is go watch a Craig Wright talk on youtube, like 1 hour long, way better than anything you can find on any website. Just listen to him speak about the future of BCH and you will know where to put your money.

>The size is allocated as it is needed.
>So yes, it is a long term solution.

Until the blocks need to be 1gig, filling up the average person's computer in a single day and centralizing the mining under huge corporations, WHICH IS EXACTLY THE SORT OF SHIT CRYPTO WAS DESIGNED TO AVOID.

bcash is a centralized shitcoin.

I'm waiting for it to crash and burn so that I can buy in.
Please dear god above in heaven, if you exist, crash this market with no survivors amen.

Veeky Forums seems to believe bcash will take Bitcoin's place.

Therefore, bcash is garbage that will crash.

Always to the opposite of what Veeky Forums says.

Because BTC Core blocksize didn’t become important until recently. It was under 1mb.

Mining is already centralized just due to competition and economies of scale, your argument is worthless.
The only way for mining to become and remain decentralized is for Bitcoin to become valuable enough to many unconnected parties feel like competing for their share of the hashrate.

You are retarded. Google blockchain sharding. Block size is irrelevant.

When blocksize is 1gb a hadrive will be 10,000 TB.

He dumped them all back in early august. He said BCH is going to 0 and is a complete scam and the miners are stealing money.

Blockchain sharding fixes this problem indefinitely. Why are no corecucks responding to any of my posts where I mention sharding? Perhaps because it means BTC Core is for retards.

because they are paid shills who have to stick to certain talking points

I don’t care about sharding you idiot.

There’s literally no problem to solve except increasing the blocksize and morons advocate 1000 different uncesessarily complex solutions.

You don't care about a protocol that allows users to operate a node regardless of the processing power of their device and regardless of the size of the block? Sharding is literally the holy grail of blockchains. The absolute state of Corecucks.

How do you determine or measure centralization? The fees being $20 for a transaction already prices out 99% of the world's population from using it.

Bitcoin Cash will won't work due to the confusion with Bitcoin. It's like the marketing of the Wii U and the Wii. Lots of normies won't know the difference and just buy bitcoin

Nope. I’ll be able to run it just fine on my laptop without sharding.

It's about having direct control of your funds instead of tertiary layered IOUs

sound logic

you underestimate how fast merchant adoption could increase the required tx/s for the blockchain

that said
/sharding/ fixes it

Listen you retards.

There’s a saying if it’s not broken, don’t fix it.

Bitcoin Cash increased the block size which fixed a problem. And now they want to fix the same problem that doesn’t exist?

After the Bitcoin chain fails we will just rename BCH to Bitcoin, problem solved.

For a biz model like this to work you have to get the normies aboard too

So, if I'm reading the thread right:

- Bitcoin has been a "scam" all along, someone is pulling out?
- BCash will be/is the true bitcoin
- Bitcoin is gonna crash?

If wrong, what the fuck is up in this thread?

Bitcoin Cash people have to stop shilling for nChain bullshit and just stick to Satoshi’s original protocol.

Otherwise there will be another fork.

Bitcoin Cash is the original Satoshi(2009-2017) protocol where blocks contain private key signatures.

Bitcoin Core is a new protocol (Segwit) where blocks are decoupled from private key signatures.

What do you have trouble understanding?

By Bitcoin Core you just mean "Bitcoin", correct? As in, the "original" "first" cryptocoin?

And so BCash implements the original Satoshi protocol that Bitcoin USED to use, or never did? Wasn't Segwit a new thing?

Sorry. Just confused in relation to just, how this will affect prices of coins.

I think it's best to not put anymore money into BTC or any other forks of it. All seem to be kinda off it seems...

Basically Bitcoin was a currency, and was created as such. Now high transaction fees and sluggish speed have made that impossible.
Bitcoin Cash makes it fast and cheap again, as it was supposed to be.

Bitcoin cash is a fork from the bitcoin blockchain, it has a claim to the bitcoin name.

Those treacherous core cucks

Sharding is a pipe dream, see CAP theorem.

Bitcoin Core is Bitcoin which is trading at 17,500.

Bitcoin Core used Satoshis protocol from 2009-2017. Bitcoin Core soft-forked and implemented a new protocol called Segwit.

Bitcoin Cash hardforked from a Bitcoin Core after Bitcoin Core implemented the Segwit protocol, removed Segwit and increased the block size. Bitcoin Cash trades around 1,700$.

Thank you for explaining, and so this guy Cobra pulling out, what are the implications of it? And reading a bit something about how because Bitcoin CORE went and moved to Segwit, it's not insecure/scam?

>so this guy Cobra pulling out, what are the implications of it?

>Co-owner of bitcoin.org & bitcointalk.org

Something is fishy as all hell

tl;dr

>private keys inside the block
>public ledger

think about what you are saying and how stupid it is

This. I don’t know what he’s up to.

BCH forked before segwit.

There are a number of possible problems with Segwit.

Watch this: youtu.be/hO176mdSTG0

This is also the same guy who proposed to rewrite the whitepaper.

Fuck it's true

That’s weird.

So why is he jumping ship?

He seemed to be an accomplice

No, ethereum will win this war.
It's hilarious how few people realize that ethereum is going to be an astronomically better store of value because staking is going to be profitable, as opposed to decades of inflation and mining with btc/bch.

Implications of Cobra Bitcoin bringing this up is interesting...

Apparently he has some ownership share in bitcoin.org...
And we've never known his identity, for the longest time he was thought to be an alt of some big name Blockstream member.

tinfoil hat time:
Blockstream have realised that they have painted themselves into a corner wrt the blocksize/scaling debate, looking at the current mempool state, seriously look at this shit it's ridiculous.
And this post by Cobra is the start of an attempt to try and rewrite the narrative, paving the way for a future Core blocksize increase.

The whole point of Segwit is to STEAL your coins without your private key signature.

Look at these fats on leddit shilling for segwit. Obviously some kind of paid shills.

God damn dude I think you may be right. That’s not nearly tin foily as other theories.

Of course they’re going to increase the block size.

Otherwise BCH will take over and destroy their plan on stealing Satoshi’s Bitcoins and controlling everyone’s else’s.

He's a fucking shark! Buy what he's pumping BUT remember to not get greedy and always sell when he's at his most shouty.
I rode his Silver-shill back in the day and made bank.
Rule number 1=Never trust a Yuppy!

There’s one issue there: Miners won’t agree to that.
Hence the BCH hardfork.
Fucking shit that’s how all this is gonna go down, I can’t believe how much has changed in the past few hours.

Meant for

And it makes sense historically, if you look at the sort of things CobraBitcoin has said in the past.
He's backed up the core story before, was onboard with NO2X etc.

Back when Blockstream where trying to undermine the role of miners in the network, Theymos said this:
>This belief (that miners control the network) is one of the most dangerous threats to bitcoin, since if most people think that, then bitcoin ends up controlled by only a handful of people
>Although this issue is mentioned in a few places on Bitcoin.org, I’ve been thinking that Bitcoin.org should somehow act against this more than it is already.
And CobraBitcoin backed him up with:
>The white paper is to blame for all of these dangerous beliefs
>We seriously need to rewrite it, or produce a completely new white paper and call that the Bitcoin white paper

What happens with Cobra/Core in the future will be telling as to whether Cobra is a mouthpiece for Core narrative - "controlled opposition", or not.

I don't get why there's no mention of the Lightning Network here. The obvious theory is that Core want to keep Bitcoin unusable to force people to use the Lightning Network, so that the companies that they're friends with can collect fees from the LN. This is a common theory and makes a lot of sense.

yup now it makes more sense