BU vs Segwit adoption chart : Bitcoin

Got this in my inbox a couple of minutes back

A new user sent me this to my inbox, its a description of the events after the fork, with a signed message at the bottom. I've gone through it once but its very late here in my timezone, have to go through it again tomorrow. I'm sure I'm not the the only receipient, but just in case pinging some people here.
https://honest.cash/kiarahpromise/sigop-counting-4528

*** EDIT 2 ***
Before you continue. From the Bitcoin whitepaper:
" The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes."

*** EDIT ***
Ok, I have slept over this.
How big is the chance that these two events, the sigop tx spamming of the network and the intended theft of funds stuck in segwit by an unknown miner, were coordinated and not coincidential? I slept over this message and am wondering if that was one two-phased plan and even this message was planned (probably a bit different but it was adapted afterwards to the new situation, that's why the first half of it is such a mess to read) to spread fear after the two plans got foiled.

The plan consisted of various Acts
Act 1) Distract and spam the network with sigop transactions that exploit a bug to cause distraction and halt all BCH transaction volume. The mempool would become filled with unconfirmed transactions
Act 2) When a patch is deployed, start your mining pool and mine the hell out of it to quickly create a legitimate block. They prepared the theft transactions and would hide them in the (predicted) massive mempool of unconfirmed transactions that would have been accumulated. They would mine a big block, everyone would be so happy that BCH works again, and devs would be busy looking for sigop transactions.
Act 3) Hope that the chain gets locked in via checkpoint so the theft cannot be reverted
Act 4) Leak to the media that plenty of BCH were stolen after the fork and the ABC client is so faulty it caused a halt of the network after the upgrade
Act 5) Make a shitload of money by shorting BCH (there was news about a appearance of a big short position right after the fork)

But the people who planned this attack have underestimated the awareness and speed of the BCH dev team. They were probably sure that Act 1 would take hours or even days so the mempool would be extremely bloated (maybe they speculated that everyone paniced and wanted to get out of BCH) and Act 2 would consequently be successful because no one would spot their theft transactions quick enough.

But they didn't calculate that someone is working together with various BCH pools in precaution to prevent exactly this scenario (segwit theft) and even prepared transactions to move all locked coins back to their owners.

Prohashings orphaned block was likely unpredicted collateral damage as Jonathan suggests below, because they were not involved in the plan of the two pools who prepared to return the segwit coins. I'm guessing that the pools did not expect a miner with an attacking theft block that early and had to decide quickly what to do when they spotted it.

So now that both plans have been foiled, Plan B) is coming into place again. Guerrilla style fear mongering about how BCH is not decentralized. Spread this info secretly in the community with the proof in form of a signed message connected to the transactions. Of course, the attacker worked actually alone, attacked us for our own good, and will do so again, because the evil dictatorship devs have to be eradicated....

As an unwanted side effect of these events the BTC.top and BTC.com "partnership" has been exposed. So what do we do with this new revelation is a question that we probably have to discuss.

They worked together with someone who wanted to return the segwit coins and avoided a theft. They used their combined hashing dominance to avoid a theft. I applaud them for that. From a moral perspective this is defendable and my suspicion that we have more backing for BCH than you can see with your eye by following hash rate charts is now being revealed as true again.

But the dilemma BCH has is revealed again as well. we need more of the SHA-256 hash rate cake because we actually do not want that any entity in this space has more than 50% hash power.

*** EDIT 2 ***
Added Satoshi's quote from the whitepaper.
submitted by grmpfpff to btc [link] [comments]

This Bitcoin Chart Could Change Everything (Critical Level ... YOU NEED TO SEE THIS BITCOIN CHART RIGHT NOW!!!! ETHEREUM ... A BULLISH BITCOIN CHART WITH 63% ACCURACY BTC USD Charts - Bitcoin Updates - YouTube THIS BITCOIN CHART IS NOW FLASHING A CRAZY SIGNAL ...

“It was added to Bitcoin; it is easy to fix.” He demonstrated a piece of code and explained, “BU and BitCrust and our team independently picked it and fixed it.” Bitcoin Unlimited actually fixed the DoS-attack based on quadratic scaling. To do so, the developers limited the number of SigOps each transaction or block. We present eclipse attacks on bitcoin's peer-to-peer network. Our attack allows an adversary controlling a sufficient number of IP addresses to monopolize all connections to and from a victim bitcoin node. The purpose of this article is to save you time learning how Bitcoin works. That may seem odd, considering that it is 100 pages long. However, trying to learn about Bitcoin is tedious and… Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Owing to the novel proof-of-work based consensus algorithm, bitcoin has been the most successful decentralized cryptocurrency so far. In bitcoin system, parties (miners) compete to create blocks by doing publicly verifiable proofs of sequential work (proof-of-work) and the probability that a party wins the competition is proportional to the amount of computational power that he has invested.

[index] [11026] [3767] [18754] [34875] [21970] [14456] [3715] [3409] [9889] [34137]

This Bitcoin Chart Could Change Everything (Critical Level ...

Learn how to read stock charts and identify technical patterns as ClayTrader does a quick stock chart review on Bitcoin (Bitcoin). Watch more Bitcoin Technical Analysis Videos: https://claytrader ... Bitcoin Price & Altcoins Analysis & Crypto News! 👍 THUMBS UP & SUBSCRIBE NOW + 🔔! *** VIP PRIVATE TRADE ALERTS - https://t.me/joinchat/AAAAAEts9GFT3RV_6wLjOQ... YOU NEED TO SEE THIS CHART RIGHT NOW!! WHAT IS HAPPENING?! BITCOIN TODAY: In this video, I'll go through the Bitcoin news today & I'll make a Bitcoin price a... BULLISH CHART! THERE IS STILL BULL CASE FOR BITCOIN PRICE! #Bitcoin #btc Cycles of Bitcoin - https://www.tradingview.com/chart/BLX/IzGnRABO-The-Cycles-Of-Bit... https://signalsandcopy.club Bitcoin (BTC) was invented by a pseudonymous individual or group named Satoshi Nakamoto in 2008 and is the world’s first enduring...

#