| submitted by /u/arcrad
The United States’ Commodity Futures Trading Commission (CFTC) has received a $ 1 million USD budget cut. The announcement has come following the CFTC Chairman, Christopher Giancarlo requested an increase in the regulator’s budget of 12 percent.
Also Read: 80,000 New Merchants in Europe Gain Option to Accept Crypto…
It was about time someone spoke the truth and this someone was the most honorable Dr. Craig Wright, the new spearhead of the big block / centralization movement. In his talk in Arnhem he made clear that the bigblock Bitcoin-chain ("bankchain") will NOT be a p2p thing, will NOT be possible to be validated by anyone with hardware worth less than 20k but that it should and will be validated by – the banks. As he says there are 170.000 banks in the world, they have the computing power and of course they would never collude – I mean they never did now, did they?
THIS IS GREAT NEWS FOR EVERY BITCOIN HODLER WHO KEEPS HIS COINS ON BOTH CHAINS!
Because this means that there is now clarity in regards to the faith of both chains after a possible fork. One will be the bank's coin, for everybody who wants “hard central controlled money”, who desires to “stop thinking” and who longs for “strong leadership” (all quotes from Dr. Wright's talk). The legacy chain will be the one for people who prefer money that is not centrally controlled, who can't stop bloody thinking and who don't give a fuck about leaders.
I strongly believe that both chains will gain in value soon after the fork. The bank's coin will skyrocket first as all the banks will pump their worthless fiat into it now that they control that side of Bitcoin. The original Bitcoin chain will finally be able to activate segwit and get lightning fast zero conf transactions, sidechains, microtransactions, smart contract capabilities, anonymity and fungability.
If you hold the coins on both chains the bank chain will make you rich and the legacy Bitcoin chain will fullfill all your wettest cypherpunk dreams.
So everybody can have their cake, eat it too and get a different flavored cake for free on top!
On a side-note it is now clear that the centralization movement will not have a problem with blocks however big they may get: if the bankchain gets too big too handle for the banks they can just replace it with a SQL database because nobody using the bankchain will realize any difference as nobody is validating their own payments on that system anyhow.
So the future looks brighter than ever for anyone hodling Bitcoin now.