Like my spoof poster? I’m just adding some light humour to the brewing Bitcoin Unlimited vs Core war that’s threatening to split Bitcoin into two. Vinny Lingham does a good job describing the macro environment of such an event.
For those who aren’t tracking events, if Bitcoin Unlimited splits off from the network with a hard fork, we could see open warfare. Propaganda we are already seeing right now would likely expand to wide scale conflict on multiple fronts:
- The hashing power front lines, the battle for the war machines. For the side that captures 75% of the miner power, 50% can be retain for defence, while 25% deployed offensively to 51% attack the opposing chain. Actively recruiting hash power will win this war. This is akin US production capacity turning the tide of WWII.
- Winning the hearts and minds, the battle of the exchanges. A dumping battle will take place on the markets. Mining power is dictated by profitability, driving the opponents’ price down is the best way to swing miner profitability to your side. Both sides will have an equal bag of opposing coins, holders of Bitcoin can sell off the opposing coin driving the price down. This would be a hearts and minds battle. Roger Ver is estimated to have 300,000 of the estimated 13.7m coins in existence (which accounts for 2.5m which are estimated lost) works out as 2.2% of the supply. This is really a nuke arsenal.
- The cyber war. Apart from heavy artillery, it’s likely Bitcoin Core supporters will continue attacks on Bitcoin Unlimited vulnerabilities as they are discovered.
Welcome to World War B.