BCH to Repeat BTC Mistakes, Mike Hearn Says

A long-time btc developer who quit the project in 2016 broke his silence, opening up on the state of the project in a reddit Q&A
06 April 2018   794

Mike Hearn, after stopping work on bitcoin, joined the banking consortium R3. He expressed his opinion on a variety of issues, including Bitcoin Cash and the debate about the size of the block, which eventually led to the fact that last summer the ways of the developers diverged. This is reported by Coindesk.

It is worth noting, in particular, the words of Hearn about their own attempts to reform the protocol of bitcoin in 2015 and early 2016, which became harbingers of the fork. Together with Gavin Andersen, chief researcher at the Bitcoin Foundation, Hearn introduced a code to increase the block size, suggesting a hard fork, but his project did not go through the voting stage. Later, Hearn left the Bitcoin Core development team, writing that the bitcoin project "failed" due to problems with the community.

However, now Hearn believes that Bitcoin Cash inherited a lot of problems of the original project.

[Bitcoin cash] strongly resembles the bitcoin community of 2014. This is not good.
 

Mark Hearn

Ex-BTC Developer

Hearn also said that Bitcoin Cash, like bitcoin in 2014, is lacks "formalized governance" and communicates mainly through Reddit, where users, he said, can censor unpopular opinions.

Thus, he advised Bitcoin Cash users to "find a replacement" for a forum where the power of the moderator will be limited, and the community's views on future upgrades can be evaluated correctly. In particular, he expressed "alarm" over the fact that Bitcoin Cash plans to conduct hard fork in its срфшт, "with no attempt to measure support"

Nevertheless, he called the Bitcoin Cash community "brave."

"Liberate yourselves from just proceeding along the path Satoshi imagined and be willing to think radical, even heretical thoughts," he concluded.

Two Mining Pools to Gain 50% of the BCH Hashrate

Media reports that Coingeek and BMG Pool are affilated with odious Australian entrepreneur Craig Wright
18 September 2018   241

The centralization of Bitcoin Cash mining has reached a new level after only two pools - Coingeek and BMG Pool - have established control over more than 50% of the total network hash. This is reported by Trustnodes.

Bitcoin Cash Mining Pools
Bitcoin Cash Mining Pools

Earlier today, there were also reports that at some points the aggregate capacity of both pools reached 58%.

While BMG Pool directly belongs to the odious Australian entrepreneur Craig Wright, the no less scandalous Calvin Ayre, who maintains close ties with Wright, is considered the nominal owner of Coingeek.

The current situation, the media believes, does not exclude the possibility of collusion of the 51% attack on the network. In particular, in this case there is a probability of double spend of coins, which, accordingly, will force the exchange to increase the number of required transaction confirmations.

At the same time, the current situation is likely to be a demonstration of power by Craig Wright on the eve of the November upgrade of the network. As a result of disagreements between different groups of developers, it is still possible that Bitcoin Cash, which at one time split from bitcoin, will itself be split into two separate chains.

Note that the Bitcoin Cash hashrate on the whole continues to remain at a fairly low level, accounting for less than 8% of the bitcoin.