“There are no controls over how many Bitcoins are issued, and digital counterfeiting rings have been busy replicating the currency at “Bitcoin farms”, and a few have been apprehended.” This “Journalist should be fired on Monday Morning”

"There are no controls over how many Bitcoins are issued, and digital counterfeiting rings have been busy replicating the currency at “Bitcoin farms”, and a few have been apprehended." This "Journalist should be fired on Monday Morning" submitted by /u/127fascination
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Bitcoin – The Currency of the Internet

"There are no controls over how many Bitcoins are issued, and digital counterfeiting rings have been busy replicating the currency at “Bitcoin farms”, and a few have been apprehended." This "Journalist should be fired on Monday Morning" (reddit.com)

Bitcoin

Bitcoin matters not because it’s fast, cheap, or easy; but only because nobody controls it. It grew spontaneously in the wilds of the internet without a central planner. After it, no alt could ever recreate this, as there’s no spontaneous market demand for a less secure Bitcoin.

Bitcoin matters not because it's fast, cheap, or easy; but only because nobody controls it. It grew spontaneously in the wilds of the internet without a central planner. After it, no alt could ever recreate this, as there's no spontaneous market demand for a less secure Bitcoin. submitted by /u/hamerH3a4
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Bitcoin – The Currency of the Internet

Operation to Bypass China’s Capital Controls Using Bitcoin Ends up in South Korean Court (news.bitcoin.com)

A South Korean police officer has been indicted for his role in an operation to bypass China’s capital controls. Using bitcoin to transfer the funds, the case involves the movement of 12 billion won, approximately $ 11 million, by foreign exchange services in both China and South Korea.
Also read: South Korea Prepares to Tax Bitcoin Use
China…

Bitcoin

Jihan plays pranks on Litecoin and directs significant hashing power to the non segwit pools that he controls. Segwit signalling dropped to 63 percent. He seems to be shitting himself so hard about Bitcoin segwit, that he spends money to prevent segwit to happen on Litecoin

Jihan plays pranks on Litecoin and directs significant hashing power to the non segwit pools that he controls. Segwit signalling dropped to 63 percent. He seems to be shitting himself so hard about Bitcoin segwit, that he spends money to prevent segwit to happen on Litecoin submitted by /u/bitking74
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Bitcoin

Jihan Wu’s messages after the announcement seem to imply he controls the majority of hashing

http://i.imgur.com/sYzHBxG.png

Source: https://twitter.com/007LongShao/status/842796442250952705 ( http://m.weibo.cn/u/2083258595 )

"All the exchanges who signed are not world class level. They think they're clever, but didn't figure out the most basic logic. The situation is more complex but the result is clear. The big pools will win and the rest can't survive".

"These stupid cunts are going to be caught unprepared for the complex circumstances in which the fork is going to occur."

[EDIT: /u/oakpacific provides this corrected translation of that last sentence: "These stupid cunts create such a complex arrangement (implying that it's created by the exchanges), they will be caught by surprise by the complex situations during a fork."]

Other than that, expletives and edgy teenager talk.

Obviously, we're already used to his childish bluster, but it wouldn't be completely out of the question that there is a coalition of miners with 50%+ of the hashing.

IMO, regardless of SegWit, the PoW change option needs to be considered because the underlying problem of total mining centralisation remains there. At least the plan needs to be in place just in case. Even with the support of the exchanges, the situation could be quite precarious.

submitted by /u/muyuu
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Bitcoin