Bitcoin Dev Plans to 'Reassign' Coins Linked to Satoshi Nakamoto in Hard Fork

decrypt.co

6 points·HardwareLust··8 comments

Headline should read: "Person wants to create a Bitcoin fork, like has been done many times, and does nothing to the original Bitcoin ledger"

And his company's tagline is "Make every transaction a Bitcoin txn." Make it a what?

Cashgrab. However the whole reassigning crypto slop more than anything is just to generate outrage, free marketing, out of bitcoiners. Probably not enough for them to make much money.

Ah yes, cryptocurrency: built on an immutable ledger so that your money is safely secured by your private key until the project devs decide it’s not.

The article states it's just a fork, AKA a separate coin that copy/pastes the current Bitcoin ledger. Even if every dev wants this, that is a "hard fork" (not backwards compatible), and creates a new version of the coin. Ex: if you want to add a smiley face to some Bitcoin log output, you 1) make the change, and 2) nothing happens until 3) miners agree to use that new version.

Look into "Bitcoin Cash", a near identical coin except it has a larger block size. Completely different token and therefore has 0 effect on Bitcoin.

Might be more illuminating to look at Ethereum Classic.

How’s that doing after the fork led by the central owners of a decentralized blockchain, initiated to reallocate a big pile of money that the devs didn’t think was in the right spot?

Everything is safe until it isn’t

Well yea. But so much of the bitcoin/crypto was specifically built on the idea that technology and “decentralized” blockchains were the right and necessary solution to protect us from this kind of centralized human manipulation.

Alternative headline: "Bitcoin Dev doesn't understand why people pay money for bitcoin".

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