New Bitcoin Mining Pool Attack?

Unpopular opinion: we should've stayed in the legacy chain filtering spam lile we did before the soft fork, educating and growing instead of all the crap that happened right after.

I think you're missing the point that you can't educate bad actors. You could get the node count to 90% and they would still call it a sybil attack and block it using backdoor lobbying of the mining pools

Maybe but if we had the 90% support mandatory signaling would've been a success instead, we didn't even had the 55% required

The 55% was for early activation. The actual miner support level required was 0%, since it was designed as a UASF. 5 large regulated corporations don't get to decide the rules of Bitcoin

What I'm trying to say is that we didn't even have majority node support either.

Bitcoin is not a democracy-- thank God

What do you want then? a minority deciding what Bitcoin is? Oh wait, that's what Big Bitcoin did...

I'll always side with the minority if they're right. Big Bitcoin is now pretty much a majority that controls the reference implementation and the mining pools and the exchanges

Blake2B depends on extraordinary idealism from miners that invest capital and energy into the hashrate, and then an oligarchy of high priests that will shame, blame, and penalize the violators of the creed. Perhaps you can add a judicial layer.

You should stick to the SHA-256 cartel instead then

An attacker would not de-escalate the "attack" in response to social pressure. And would not be implementing DATUM despite all the invective they've endured. I don't know AlphaPool's "intentions" but their actions signal cooperation. And they've been trashed for it.

No, AlphaPool's words and actions have shown them to be liars. Still way above 30% for the past 24 hours:

The difference between a "demand" and a "request" from the "community" is obvious to anyone. AlphaPool's hashrate dropped to 27%. I have the receipts. The reward: constant escalation rhetoric, like your video. Love your content. This was a miss; exacerbated the problem.

At some point the answer to a "demand"is: GFY The "community" escalated a situation that could have been handled *much* better.

@mattkratter Sure, I suppose the community could have been more diplomatic. But one can only be so polite when someone who is driving you off a cliff is refusing your pleas to hit the brakes.

@mattkratter He did hit the brakes.

@mattkratter No, he applied them inconsistently. He did not stop or he would be staying below 30%.

@mattkratter Again, to my point. He's apparently not feeling very cooperative at the moment. Think I understand why, since he says it straight-up, which other people seemingly cannot understand...

Where on the blockchain did AlphaPool touch you? If it was an attack then you could point to some re-orgs or time attacks or something… but no this was just a common occurrence of hashrate centralizing.

Centralization of hashrate due to Stratum v1 is exactly what the problem is, and why we forked away. Crypto bros and SHA-256 Bitcoiners don't seem to care about things like this, so I'm not surprised you don't understand

No you forked over JPEGs and then pivoted to miner centralization, which has been a problem for long before JPEGs. Just goes to show how horribly planned out the fork was in the first place.

I will call the bump in my lawn Mt Everest for the rest of my life. 🤭

Another non serious Bitcoiner

Non serious is better than delusional

It's delusional to think that SHA-256 Bitcoin has not been completely captured

With Luke, Mechanic, Guida and Kratter on our side, we have a chance at sound money again.

Matthew, you are leading thousands of ppl astray by promoting Blake2b. Blakecoin has no network effects. Anyone who listens to you and sells “corechain”/Bitcoin for Blakecoin is actively ruining their financial future because of idealism. Stop this madness! Control your ego!

I've never advocated for selling CoreChain to buy BlakeCoin. In face, I've said that BlakeCoin has a low probability of success. CoreChain has an even lower chance of success

Some say that this isn't an attack, likely because he doesn't seem to have malicious motives. But it's like a bus where the passengers realize that the driver is drunk and refusing to pull over. He needs to be stopped since his reckless behavior is putting everyone else at risk.

You cannot believe your are decentralised if it requires a politburo style management of the chain to maintain equality and decentralisation. Its then just a facade. What the event actually shows is that mining is centralised and co-ordination can happen between miners.

Why didn't AlphaPool just immediately respond to our needs and remain under a threshold and collect fees for possibly years or decades and give his customers a place to point hash instead of forcing us to deal with the large pool on our end? He is either a fool or malicious.

@SpectrGen Alpha pool is definitely a bad actor. But I’m also dismayed that 3 pools are almost 75% of the whole space.

A friendly reminder from the Bitcoin Marketing Department: Please refrain from referring to the BIP 110 fork a new crypto currency as “Bitcoin.” This creates unnecessary confusion in the marketplace and infringes upon a brand established in 2009.

Thank You Matt🫡 Listening Your video's my learning curve increases. Save and make strong XBT = BITCOIN 🫡

Excellent Matt!

Why does something so unimportant and worthless receive so much attention?

this is an expected risk/pitfall of launching any new PoW coin, which is effectively what the hard fork is

Interesting take

Actions speak louder than words. Let's see if you exchanged your holdings or just larping.

Glad I dumped my fake btc for some real btc 🤝

Is it even sound to control/limit/restrict the miners? What will happen if no miners decide to mine? If a group decide to lift/restrict who can mine, wouldn't this then go back to square 1 (centralized control)? Akin to changing the Chess game rule, but ends up no players. No?

Trashchoin bip110ers. 24/7 posting on x because their shitcoin has no support but from luke and their dumb friends 😂😂😂. LMAAAAAAOO

It's getting better

Sold your spamcoin yet?!? Or will it still take years?