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Chinese Chatter 6/14/16
Hey everyone! I hope everyone has done well during the recent run up. In this episode, what appears to be a somewhat desperate FUDing attempt against Ethereum/Altcoins by an OP who is eventually told to 'get some sleep'. Post by (user) 预测大神有点傻 on 6/13/16 【比特币暴涨最神警告】大家请进，信不信由你 "The Most Secret Warning about Bitcoin's Boom" Everyone's Invited, Believing or Not Is Up to You 不要碰姨太，有姨太抛姨太 不要碰山寨，有山寨抛山寨 信不信由你，有些事情不想告诉你 Stay away from Whorethereum, if you have it get rid of it. Stay away from Altcoins, if you have them get rid of them. Beileving or not is up to you, there's some things I wouldn't like to tell you.
1. "I'll get altcoins" 63% (64 votes)
2. "No altcoins for me" 37% (27 votes)
(user) 预测大神有点傻 [OP] 山寨庄家急着想套现，买比特币，所以宣传山寨
Altcoin dealers are looking to cash out, and buy bitcoin, so they're shilling altcoins.
Only whales are playing with Ether, the ICO raised over 15 million USD, an estimated 60,000,000 Ether, making for a low number of holders for the coin. Let's figure including these 60,000,000 coins, with an annual creation rate of 18,000,000, according to this current price, each year requires 1.8 billion in buy orders. There was a bit of an uptick yesterday, then it pulled back instantly, it's like theres a lot of people waiting to unload.
(user) 秦的爱恋 山寨大都还没解套了，不想割肉
A majority of the alts haven't dumped yet, I don't wanna get fleeced.
(user) 预测大神有点傻 [OP] [in response to above] 好吧，等着就是你割肉韭菜来买比特币这句话 必须逼到你割肉才收手
Yeah well, they're (the whales) just waiting for you to take short-term gains and buy Bitcoin, so that they can corner you, fleece you, and realize profits.
(user) sider 可以买山寨了
You can buy altcoins
(user) muming 姨太有这么不堪？
What's so terrible about Whorethereum?
(user) test8btc 技术不错的山寨还是可以碰的，传销币别碰就是了
You can mess around with altcoins that have good technology, just stay away from the pyramid schemes.
(user) 宜州抠门电话总 [response to What's so terrible...] 你可以多购买一些，留着
To tell you the truth, if we're speaking from a future outlook and technological aspect, all the altcoins in the country combined are nothing to Ethereum. However, speculating is inappropriate, it's like if everyone of you is thinking the same thing, that if Chinese people don't see it as good, then there won't be people to speculate on it. The reason Chinese people don't see it as good, is a result of propaganda from a few of China's blockchain "experts". When these experts estimate the price, they'll use price valuation methods to determine the coins they think are bad, but for the coins they'd like to speculate on, they'll spread propaganda, and completely ignore the price valuations. Just look at IPOs, everyone's IPO at least came out of some kind of research. China's altcoins are nothing more than a few basic uses and concepts from the blockchain, after people found out that money could be made, now everyone has an ICO, everyone is an angel investor and everyone is listing companies.
(user) 新兵 [same user as above] 人家在研究啊，我们重点是炒。利用了国内玩家不成熟，以及盲从的特点。 不信，我可以给你们举一些例子。
When we do our research, we focus on speculation. Utilizing these domestic players (coins) is in its infancy, and it's blind. If you don't believe me, I can give you a few examples.
(user) 宇宙第一帅 想发财只有买山寨
Want your wealth to rise? Altcoins you should buy!
(user) petaflops [response to above] 发财买山寨，投资买比特
Buy altcoins for wealth, buy Bitcoin as an investment
(user) bincoin 价格不下来，肯定是高位站岗是定的
The price isn't going down, it must be at a high resistance level
(user) 预测大神有点傻 [OP] 想找死也可以买山寨币
You could buy altcoins, if you wanna die...
(user) 深鱼 比特币类似黄金，以太币更属于股票。
Bitcoin is like gold, Ether is more like stock shares.
Ether still has a lot of potential guys, after all, aside from Bitcoin itself, Ether is the only one (altcoin) that can replace it (Bitcoin).
(user) gowithbtc 然而以太又破頂了
Ethereum has reached a new high yet again.
(user) DogeCoin-Keeper 越是说不好的我越要买
The more you say it's bad the more I want to buy
(user) 我的田野 vpnvoin
(user) Decred 越是说不好的我越要买
The more you say it's bad the more I want to buy
(user) 秦的爱恋 越是说不好的我越要买
The more you say it's bad the more I want to buy
(user) 预测大神有点傻 [OP] 然而没有价值，然而无限量，然而跌的时候会死的
and yet it has no value, and yet there's an unlimited amount, and yet when it crashes you'll die.
(user) Benhur924 洗洗睡吧! 楼主
have a shower and get some sleep landlord! ('landlord' is their term for 'OP')
(user) 秦的爱恋 好吧，我就看看，坚决不割肉追涨了
Alright, well I'll take a look, but I'm determined not to get fleeced for chasing gains.
(user) 预测大神有点傻 [OP] 无限量的中心化的姨太最容易被更好的二姨太替换的。
The unlimited volume of centralized Whorethereum will be most easily replaced by an even better second mistress.
(user) ada 对的，比较危险
That's right, it's a bit risky (in response to '1.8 billion calculation' user)
ETH Address for Tips: 0x09e47a0C248DA9443cE4D3d985cca30555Ac4162 Tips, always appreciated. Thanks! EDIT: Thank you for the gold again!!! EDIT 2: Correction from u/EtherPricing, thanks for double checking!
The /r/btc China Dispatch: Episode 8: Special Extended Lunar New Year Edition - 8btc Discusses the Official Release of Bitcoin Classic
Howdy /btc, it’s been awhile! The /btc China dispatch was on vacation this week due to the Chinese New Year, but now your humble correspondent is back with the vengeance with more OC from the Bitcoin Sinosphere. In this edition of the /btc China dispatch, we look at a thread on 8btc.com announcing the release of Bitcoin Classic to Chinese readers. I hope you guys find the translation informative. Note that unlike in previous editions of the Dispatch, in addition to the posters’ user names, I have also posted their forum titles in parentheses next to their user names for your reference and possible amusement. All accounts on 8btc.com are ranked based on number of accrued points (essentially upvotes) from, in order of lowest to highest, Noob, Shiphand, Crew Member, Squad Leader, First Mate, Captain and Pirate King. Additionally, some people have custom titles equivalent to Reddit flair. [OP] Subject: Bitcoin Classic Officially Released! Posted by bluestar (Crew Member) Bitcoin Classic has finally been officially released. You can download it via the link below: https://github.com/bitcoinclassic/bitcoinclassic/releases/tag/v0.11.2.cl1 Now miners that support Classic can start using Classic to mine blocks. Does anyone know how many miners there are in China who support Classic? I remember a while ago there was someone on 8btc who gave us a tip off, but now there’s no information whatsoever. Has 8btc been abandoned or are the miner’s secretly planning on making a massive move? Any inside info would be appreciated! You can see the extent to which each version is supported by going to the following page: https://coin.dance/nodes [Response 1] Posted by jb9802 (First Mate) I would like to call on the miners to complete the upgrade of bitcoin as soon as possible. If we wait for Core we’re going to be killed off by Blockstream, Inc. sooner or later. [Response 3] Posted by hempheart (Squad Leader) My guess is that the miners will support Core. The miners are putting their lives on the line with their investment unlike small time investors. The small time investors will still be able to eat even if they lose all their BTC. [Response 4] Posted by yuli7376 (Great Captain of Atlantis) All us smaller players can do at this point is sit back and watch how things unfold. [Response 5] Posted by bluestar (Crew Member) @hempheart It doesn’t matter even if they support Classic as the hard fork will only activate once 75% of the hashing power is behind Classic. Once you get 75% of the hashing power, that means that a supermajority support Classic and Core will be nothing but a niche, so there’s no real “winning or losing” when it comes to this vote. [Response 6] Posted by copay (Crew Member) As the name suggests, Classic is a return to Satoshi’s original vision. [Response 7] Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain) @copay Classic just means classic. What I want to know is whether or not the official release continues to use a 75% threshold for activating a forced hard fork like the beta version, presenting the possibility for a schism in the bitcoin community. If Classic doesn’t support the 90% 2MB consensus then supporting Classic is basically just like supporting a fracturing of the bitcoin community. I strongly suggest that miners should emphasize first and foremost not dividing the community and boycott any contentious version that forks after less than 90% of hash power is reached. Pools that support forking at 75% want to divide the community and I advise all miners to leave these pools. It is no longer a simple question of 1MB or 2MB, but rather a question of 75% versus 90%: fork plus schism versus fork with no schism. The issue is about maintaining the unity of the bitcoin community. To digress a little bit, Bitcoin XT, which has already been abandoned, also sought to hastily fork at 75% and divide the community. You can find more information on Qt versions here: http://BitQT.com [Response 8] Posted by copay (Crew Member) @Ma_Ya What is the big difference between 75% and 90%? [Response 10] Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain) @copay In the event of a hard fork activated at 75%, there’s a possibility that the remaining 25% of hashpower will hold out. That is, the hashpower ratio will be 75%:25% = 3:1; at this hashpower ratio there is definitely a possibility that the two coins that result from the fork will coexist and compete with one another. This will result in a splitting of the community and there will be two bitcoins. They will attack one another and claim the other coin is an alt while each saying their own coin is the true bitcoin. One the other hand, if a fork happens after 90% of hashpower is behind it, the hashpower rate is much higher at 9:1. When the hashpower ratio is this high, the miners working on the 10% chain will need 10x as long to produce a block and they could be attacked by the other 90%, who would only need to send 1/9 of the hashpower to attack the other chain. Therefore it will be difficult for the 10% chain to survive over the long term. Therefore there will be no split in the community. [Response 11] Posted by petaflops (Squad Leader) Awaiting the results. [Response 12] Posted by bluestar (Crew Member) @Ma_Ya Come on, man. You don’t need to say the same thing twice. It’s not like your response is highly technical. [Response 13] Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain) @bluestar Four Major Mining Pools Call for Consensus, Reject Hard Fork to Bitcoin Classic http://8btc.com/forum.php?mod=viewthread&tid=28955 My proposal that Classic needs to support the 90% 2 MB consensus as soon as possible is made in good faith. Currently Classic does not support the 90% 2 MB consensus and insists on initiating a hard fork at 75% with the possibility of dividing the community, so the major mining pools have come out with a joint statement saying that they do not support it. This joint statement is Classic’s failure. I never would have imagined that their failure would be announced as soon as they released an official version. The results might be different if the official version had supported the 90% 2 MB consensus and avoided the risk of dividing the community. [Response 14] Posed by Qin’s Love (Captain) Small time investors can only watch from the sidelines. [Response 15] Posted by bincoin (First Mate Invincible Speculator in Stocks, Futures, Currencies, Gold, Bitcoin, Goocoin and Agricultural Products) A solution is out there, which is good. Much better than the unending bluster from Core. Whether you support Classic or not, they’re efficient. [Response 16] Posted by jb9802 (First Mate) @Ma_Ya The front page of 8btc: http://www.8btc.com/34454 [Translator’s Note: The headline of the page linked to reads “A Summary of Discussion Regarding the Raising of the Bitcoin Block Size”] Take a close look. The pools haven’t rejected it, they’re just waiting to see how Core responds. Btcc, who are regarded as diehard core followers said: “if Bitcoin Core still does not consent to raise the block size using this method, then we will very probably need to look for another leading team to implement a hard fork, with an activation period of 12 months.”
Btcc has given Core 1 year (of course I personally think this is too long); if Core does not implement a hard fork then btcc will have to find some other solution.
The fact of the matter is that everyone is waiting for a statement from Core and if they don’t make themselves clear in the next few months then their exit will be inevitable.
[Response 17] Posted by bluestar (Crew Member) @jb9802 Honestly I don’t think there’s any need to respond to this guy’s mantra-like posts. Every time I see one of his posts it’s like hitting a brick wall. I’ve already responded to his calls for 90% support many times in the past. It doesn’t matter how logical you are, he’ll just ignore you and if you slip up anywhere in your argument he’ll just dwell on it without letting go. It would be better to wait until he actually posts something interesting before responding. [Response 18] Posted by DogeCoin-Keeper (Cosmically Super Awesome Invincible Badass Smart Alert Handsome as Fuck Pirate King Who Is Better Than You in Every Way) It looks like it’s going to be impossible to raise the block size this way. There will definitely be a simpler way to raise the block size in the future. [Response 19] Posted by bluestar (Crew Member) @DogeCoin-Keeper Yeah, there’s a simple way. If Core was willing to lead a hard fork it could be accomplished immediately. The problem is they’re not willing. [Response 20] Posted by DogeCoin-Keeper (Cosmically Super Awesome Invincible Badass Smart Alert Handsome as Fuck Pirate King Who Is Better Than You in Every Way) @bluestar I think that the current situation is actually okay. If BTC relied on only one team to decide its direction then it wouldn’t need to exist.
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