IF you are buying LTC for the fork, DON’T. Charlie Lee (the creator of Litecoin) has stated that it is mostly likely a scam and the Litecoin Foundation DOES NOT endorse the coin.
The Litecoin Cash Team
looks sketchy as fuck. Their public relations manager's photo is the fucking Unicorn emoji. You can't press on any of the developers pictures of find any information about them.
Whoever created the fork is a genius marketer who is playing on the similarities between Bitcoin and Bitcoin Cash (which AFAIK was endorsed by Gavin Andresen
and others in the Bitcoin Foundation) and the branding of Litecoin. Don't fall for this trick.
I’m not saying the recent price increase is solely due to the fork. In fact, I’d argue that a lot of it revolves around Litepay. However, if you are buying LTC as a short-term move, please move forward with caution (at least until Sunday).
Furthermore, if you think you’re going to “time” the market and try and sell immediately after the block which the fork happens on you’re going to get burned. Literally thousands of other people have that same idea, and what’s going to happen is that Litecoin’s price will decrease significantly right after the fork (I think it will recover due to Litepay coming out and other promising progress). The bots are going to beat you to it. You'd be much better off taking profits before the fork on Sunday and then buying back when it inevitably dips. NOTE: I know a lot of you are probably aware of this fact. However, I am in a Telegram group of about 60 people mostly composed of friends from college and their mutual friends, and I was amazed to find that several of them were hyping up the Litecoin Cash fork. I’ve also seen on some daily discussions over the past week discussing it. I do not own any LTC I am just trying to make sure people aren’t making poor investment decisions
EDIT: DO NOT GIVE THESE PEOPLE YOUR PRIVATE KEYS OR ANYONE FOR THAT MATTER.
EDIT 2: Those of you saying I'm bringing attention to something pointless, good for you, just move along. Sadly there are people who will perceive this as the equivalent of Bitcoin Cash to Bitcoin and if they are left unaware that it is in fact not, they will get burned.
EDIT 3: I'M NOT HATING ON LTC, THIS ISN'T MEANT TO DETER LONG TERM HOLDERS. If you're planning on holding long term then don't bother with this post. There are people trying to play this.
*Open Bazaar was crossed-out after their S2X support retraction, see edit at bottom. These guys submitted by
have deep pockets, but as you will see below, they are funded by even deeper pockets.
We can't leave this to chance or "the markets to decide" when there is such a malicious intent to manipulate the markets by those powerful players. So that's why all the people saying: "Don't worry, S2X won't happen" or "S2X is DOA" need to stop, we are at a 'make-or-break' moment for Bitcoin. It's very dumb to underestimate them. If you don't know yet who those malicious players are, read below:
We need to keep exposing them everywhere. Using Garzik as a pawn now, after they failed when they bought Hearn and Andresen (Here are the corrupted former 'good guys'), they are using the old and effective 'Problem-Reaction-Solution' combined with the 'Divide & Conquer' strategies to try to hijack Bitcoin. Well, effective before the current social media era, in which hidden motives can be brought to the light of day to be exposed.
Public pressure works when your profits depend on your reputation. The social media criticism worked for companies like Open Bazaar, which after weeks of calling them out on their S2X support, they finally withdrew it
Please contact the companies on these lists if you have any type of relationship with them, we have just a few days left until the fork:
Regarding OpenBazaar: * openbazaar (OB1) developer appears to be spreading pro s2x fud. someone needs to fork their project * PSA : Open Bazaars latest investment round was for 200K from Barry Silberts DCG (Digital Currency Group)
(See edit at the bottom)
B2X (S2X/NYA) is nothing more than an open attack on Bitcoin, not an "upgrade" as they want to sell it. This attack has no 'consensus', at all. It was "agreed" by a bunch of miners and corporations behind closed doors, with no community nor developers support. Only miners and a few millionaires that stand to profit from the B2X attack support it. The vast majority of the Bitcoin community is totally against this attack on Bitcoin. Most of those companies are under DCG group:
Every bitcoiner should know about what DCG (Digital Currency Group) is, and call out publicly these crooks and the people they bribed that are working for the Corporations/Bankers against Bitcoin:
Brian Armstrong, Winklevoss brothers, Bobby Lee, Peter Smith, Nic Cary, Haipo Yang, Rick Falkvinge, Jon Matonis, Wences Casares, Tony Gallippi, Mike Belshe, Ryan X Charles,
Brian Hoffman/Sam Patterson/Chris Pacia (and all OB1 team)(see edit at the bottom), Gavin Andresen, Jeff Garzik, Mike Hearn, Roger Ver, Jihan Wu, John Mcaffe, Craig Wright, Barry Silbert, Larry Summers, Blythe Masters, Stephen Pair, Erik Voorhees, Vinny Lingham, Olivier Janssens, Jeremy Allaire, Peter Vessenes, Bruce Wagner, Brock Pierce, Aaron Voisine/Adam Traidman/Aaron Lasher (Breadwallet team), Glenn Hutchins (Federal Reserve Board of Directors), Bill Barhydt and Jiang Zhuoer.
Once people are informed, they won't be fooled (like all the poor guys at btc) and will follow Bitcoin instead of the S2X or Bcash or any other centralized altcoin they come up with disguised as Bitcoin.
DCG (Digital Currency Group) is the company spearheading the Segwit2x movement. The CEO of DCG is Barry Silbert, a former investment banker, and Mastercard is an investor in DCG.
Let's have a look at the people that control DCG: http://dcg.co/who-we-are/
Three board members are listed, and one Board "Advisor." Three of the four Members/advisors are particularly interesting: Glenn Hutchins
: Former Advisor to President Clinton. Hutchins sits on the board of The Federal Reserve Bank of New York, where he was reelected as a Class B director for a three-year term ending December 31, 2018. Yes, you read that correctly, currently sitting board member of the Federal Reserve Bank of New York. Barry Silbert
: CEO of DCG (Digital Currency Group, funded by Mastercard) who is also an Ex investment Banker at (Houlihan Lokey)
And then there's the "Board Advisor," Lawrence H. Summers:
"Chief Economist at the World Bank from 1991 to 1993. In 1993, Summers was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the post-Soviet states, and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act." https://en.wikipedia.org/wiki/Lawrence_Summers Blythe Masters:
Former executive at JPMorgan Chase. She is currently the CEO of Digital Asset Holdings, a financial technology firm developing distributed ledger technology for wholesale financial services. Masters is widely credited as the creator of the credit default swap as a financial instrument. She is also Chairman of the Governing Board of the Linux Foundation’s open source Hyperledger Project, member of the International Advisory Board of Santander Group, and Advisory Board Member of the US Chamber of Digital Commerce. https://en.wikipedia.org/wiki/Blythe_Masters
Seriously....The segwit2x deal is being pushed through by a Company funded by Mastercard, Whose CEO Barry Silbert is ex investment banker, and the Board Members of DCG include a currently sitting member of the Board of the Federal Reserve Bank of New York, and the Ex chief Economist for the World Bank and a guy responsible for the removal of Glass Steagall. It's fair to call these guys "bankers" right?
So that's the Board of DCG. They're spearheading the Segwit2x movement. As far as who is responsible for development, my research led me to "Bitgo". I checked the "Money Map" https://i.redd.it/15auzwkq3hiz.png
And sure enough, DCG is an investor in Bitgo.
(BTW, make sure you take a good look take a look at the money map and bookmark it for reference later, ^ it is really helpful.)
"Currently, development is being overseen by bitcoin security startup BitGo, with help from other developers including Bloq co-founder Jeff Garzik." https://www.coindesk.com/bitcoins-segwit2x-scaling-proposal-miners-offer-optimistic-outlook/
So Bitgo is overseeing development of Segwit2x with Jeff Garzick. Bitgo has a product/service that basically facilitates transactions and supposedly prevents double spending. It seems like their main selling point is that they insert themselves as middlemen to ensure Double spending doesn't happen, and if it does, they take the hit, of course for a fee, so it sounds sort of like the buyer protection paypal gives you: "Using the above multi-signature security model, BitGo can guarantee that transactions cannot be double spent. When BitGo co-signs a BitGo Instant transaction, BitGo takes on a financial obligation and issues a cryptographically signed guarantee on the transaction. The recipient of a BitGo Instant transaction can rest assured that in any event where the transaction is not ultimately confirmed in the blockchain, and loses money as a result, they can file a claim and will be compensated in full by BitGo."
So basically, they insert themselves as middlemen, guarantee your transaction gets confirmed and take a fee. What do we need this for though when we have a working blockchain that confirms payments in the next block already?
0-conf is safe when blocks aren't full and one confirmation should really be good enough for almost anyone on the most POW chain. So if we have a fully functional blockchain, there isn't much of a need for this service is there? They're selling protection against "The transaction not being confirmed in the Blockchain" but why wouldn't the transaction be getting confirmed in the blockchain? Every transaction should be getting confirmed, that's how Bitcoin works. So in what situation does "protection against the transaction not being confirmed in the blockchain" have value?
Is it possible that the Central Bankers that control development of Segwit2x plan to restrict block size to benefit their business model just like our good friends over at Blockstream attempted to do, although unsuccessfully as they were not able to deliver a working L2 in time?
It looks like Blockstream was an attempted corporate takeover to restrict block size and push people onto their L2, essentially stealing business away from miners. They seem to have failed, but now it almost seems like the Segwit2x might be a culmination of a very similar problem.
Also worth noting these two things, pointed out by Adrian-x
So segwit2x takes power away from core, but then gives it to guess who...Mastercard and central bankers.
- MasterCard made this statement before investing in DCG and Blockstream. (Very evident at 2:50 - enemy of digital cash watch the whole thing.) https://www.youtube.com/watch?v=Tu2mofrhw58
- Blockstream is part of the DCG portfolio and the day after the the NYA Barry personal thanked Adam Back for his assistant in putting the agreement together. https://twitter.com/barrysilbert/status/867706595102388224
So, to recap:
Did we just spend so much time fighting and bickering with core that we totally missed the REAL takeover of Bitcoin, happening right before our eyes, by the likes of currently serving Federal Reserve Bank of New York Board Members?
- DCG's Board of Directors and Advisors is almost entirely made up of Central Bankers including one currently sitting Member of the Federal Reserve Bank of New York and another who was Chief Economist at the World Bank.
- The CEO of the company spearheading the Segwit2x movement (Barry Silbert) is an ex investment banker at Houlihan Lokey. Also, Mastercard is an investor in the company DCG, which Barry Silbert is the CEO of.
- The company overseeing development on Segwit2x, Bitgo, has a product/service that seems to only have utility if transacting on chain and using 0-Conf is inefficient or unreliable.
- Segwit2x takes power over Bitcoin development from core, but then literally gives it to central bankers and Mastercard. If segwit2x goes through, BTC development will quite literally be controlled by central bankers and a currently serving member of the Federal Reserve Bank of New York.
And before you dismiss all those hard and documented facts as just a 'conspiracy theory', think about this:
Of course, who thought that the ones holding the centralized financial power today (famous for back-door shady plots to consolidate even more power and control), would sit on their hands and let Bitcoin just stroll in and easily take that power away from them?
So, it is not a crazy conspiracy theory, but more like the logical and expected thing to happen. Don't let it happen.
Edit 2: Brian Armstrong taken out of the 'bad guys' list.
Edit 3: Welp, Brian Armstrong back on the blacklist for this flip-flop
. And added Winklevoss Brothers for this
, and Bobby Lee for this
Edit 4: Due to Brian Hoffman just issuing this excellent and explicit S2X/NYA support retraction
, I created this post to apologize for my previous posts (calling them out for the S2X support) and I will be editing my posts to reflect this positive change. I'm gladly back to being a supporter of the great and promising project that OpenBazaar has proven to be.
Edit 5: Added Blythe Masters (How could we leave her out?).
Edit 6: Added links to lists of companies supporting S2X/NYA.
Edit: Jim's AMA is now live. submitted by
I've been informed by lifeboatz
that it's most likely 11:00 am EDT
, not EST. One hour difference.
In case you didn't see the blurb I wrote in last week's daily thread, Kevin Beardsley, Director of Membership at the Bitcoin Foundation, kbeardsley
, has been in touch with moderators to arrange a series of AMAs over the next few weeks. Jim Harper will be first up tomorrow. Jim just submitted the Bitcoin Foundation's Bitlicense comments, and is a leading source for all cryptocurrency policy.
Jim Harper's bio from BitcoinFoundation.org
Jim Harper is the Bitcoin Foundation’s Global Policy Counsel. From 2004 to 2014, Harper was director of information policy studies at the Cato Institute, where he remains a senior fellow. A former counsel to committees in both the U.S. House and the U.S. Senate, he went on to represent companies such as PayPal, ICO-Teledesic, DigitalGlobe, and Verisign on Capitol Hill. He was a member of the U.S. Department of Homeland Security’s Data Privacy and Integrity Advisory Committee, and he co-edited the book Terrorizing Ourselves: How U.S. Counterterrorism Policy is Failing and How to Fix It. Harper has written several amicus briefs in Fourth Amendment cases before the U.S. Supreme Court, and he wrote the book, Identity Crisis: How Identification Is Overused and Misunderstood. Harper holds a J.D. from UC Hastings College of Law.
Jim's Twitter handle: @jim_harper
Also on the docket are Mark Woods, Kevin Beardsley, Gavin Andresen, Jon Matonis and hopefully more. Scheduling is still underway, but we'll try to get word out a few days in advance. If you have any additional requests, let them be known. In the meantime, it wouldn't hurt to familiarize yourselves with these individuals if you aren't already, and prepare some solid questions pertaining to the bitcoin ecosystem for our upcoming guests.
The net worth of Gavin Andresen is about $2 million, the bulk of which is due to Bitcoin. It will not be wrong to say he is one of the richest bitcoin owners. Gavin Andresen’s, one of the richest bitcoin owners, support for Bitcoin Cash is presently a contested issue, as he has posted a commentary on his Twitter identifying B.C.H. as the heir The same day, Gavin Andresen, chief scientist at the Bitcoin Foundation, wrote he was "convinced beyond a reasonable doubt" of Dr Wright's case. But Mr Andresen said he now thinks it was a Bitcoin developers discuss a messy divorce with former maintainer Gavin Andresen, key companies and a full-time position at the Bitcoin Foundation, and skepticism on Twitter and Gavin Andresen was an early contributor of code to Bitcoin with overall GitHub commits to Bitcoin Core around 484.. In 2015, Andresen joined MIT’s Digital Currency Initiative. Additionally, he serves as the Chief Scientist of the failed Bitcoin Foundation, and is an advisor to Coinbase and Zcash.. History with Bitcoin Gavin Andresen (geb. Gavin Bell) ist ein Softwareentwickler, der vor allem für seine Beteiligung an Bitcoin bekannt ist. Er hat seinen Sitz in Amherst, Massachusetts. Ursprünglich ein Entwickler von 3D-Grafik- und Virtual-Reality-Software, war er 2010 an der Entwicklung von Produkten für den Bitcoin-Markt beteiligt und wurde von Satoshi Nakamoto zum führenden Entwickler der
Bitcoin client developer Gavin Andresen talks about how he got started in bitcoin. Recorded at the 2011 Bitcoin Conference in New York City. Gavin recently shared a fascinating bitcoin scaling concept on Github. In this video, we dig into a couple of the details of his idea, and discuss its viability. Take a look at Gavin's post for ... As the debate about the blocksize continues to roar through the Bitcoin community, Gavin Andresen joins us to take a step back and ask the big questions: How should these decisions be made in the ... Gavin Andresen is Bitcoin's core development team member and one of the few whom Nakamoto emailed prior to his disappearance. Gavin came in touch with Bitcoin in 2010, began submitting codes to ... We approach that mission with Bitcoin's technology and community as our focus. There is tremendous potential in Bitcoin—from the opportunities it creates for...