Saturday, 17 November 2018

The "Hash War" idea was insane in more ways than one. Thank god its over.

Reason #1: Different incompatible rules result in a chain split. Period! Even if you mine empty blocks, the coinbase rewards will diverge the UTXO.

Reason #2: There's been a bizarre misinterpretation of "Nakamoto Consensus" which clearly can only apply to differing chains on the same rules. The only possible way to have a "hash war" on differently ruled chains is for one chain to attack the other, which the whitepaper says is "dishonest mining" and by common sense is disrupting people who want to run a network in peace.

Reason #3: A chain that is fractured, at war with itself, would be doing tremendous damage to its own brand the longer it goes on. We're already seeing the damage just having exchanges be down for 2 days. Imagine that went on for weeks and months like Coingeek and nChain wanted? My god. There will be nothing left to fight over.

Thankfully we're spltting off. The hash war is over. BSV can continue to show off its hash rate in hopes of influencing some exchange (good luck)...They can even try to 51% attack. (I doubt they will succeed). But regardless of what they do, they will never be Bitcoin... for Bitcoin is permissionless p2p cash, and for that idea to happen, it requires a community that is dedicated to the ideals aligned with that vision.

submitted by /u/jonald_fyookball
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source https://www.reddit.com/r/btc/comments/9xqi9u/the_hash_war_idea_was_insane_in_more_ways_than/

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