The mining factor looks worse and worse by the day, as Bitcoin SV got from about 40% to 50% to 67% and now to 70%+++. Basically they can attack Bitcoin BCH ABC chain by reorgs and double spending and DDOS (prevent transactions) and keep SV chain moderately secure. I suspect that they rent this hashpower from the other coin; BTC. For a dollar billionaire (Calwin Ayre) mining at a loss for a few months is a pocket change. Calwin's plan is simple: he expects to be able to change the rules and mine (reclaim) old Satoshi's coins, without having Satoshi's private keys. [1] (A million coins would be a huge payday for them).
What is our defense plan? Unless Bitmain or Roger Ver agree to also mine at a loss to defend BCH, like Calwin, our 2nd option is Nuclear: namely changing the PoW from SHA256 to something else. Something that no other coin uses and has no ASICs. (To prevent SV folks from renting ASICs from another coin) Something stable. And something that can be deployed immediately, within days.
I think SHA3 (Keccak) is good for immediate emergency fork (in days), because it's stable and no ASICs exist for it, while the next big upgrade (3-6 months), a new algorithm needs to be developed. (Maybe some hybrid between PoS and PoW? - which will not allow attackers to "loan" hash power)
I think any block chain belongs to it's users, not to miners, and miners have no say on blockchain operations. Only users have a say. Miners exist only to validate transactions and the old miners can be fired and replaced by more friendly miners.
What do you think? Is it time to fork away from Calwin Ayre and his SHA256 ASICs?
[1] Bitcoin SV, Craig Wright on reclaiming old coins: https://medium.com/@craig_10243/fixing-op-fals-fd157899d2b7
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source https://www.reddit.com/r/btc/comments/9wxx5x/the_nuclear_option_is_it_time_to_talk_about/
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