Paul Sztorc

BREAKING: New Bitcoin Fork

I am helping create a **new Bitcoin Hardfork** -- dropping this August, called "eCash".

- Your coins will split. For example, if you have 4.19 BTC, then you will get 4.19 eCash.
- You may sell your eCash -- or keep it. Or ignore it!

Vegas:

- Yes, I will be in Vegas next week.
- No, I won't mention this, on stage -- (that would be rude).

Our L1 Node...

- is a near-copy of Bitcoin Core.
- is Sha256d mined.
- forks via a one-time difficulty-reset -- to its minimum value. (So, mining will be crazy at first.)
- Yes, we will change the seed nodes, the name, the network magic, etc.

Codewise, the L1 will remain compatible with Bitcoin Core:

- We will continue to merge their changes (even the bad ones).
- The L1 will activate Bip300/301 via CUSF -- the core untouched soft fork. So, no lines of code will be changed, on the L1.
- The activation client will be published periodically (link below).
- We will do several bug bounty contests this summer.
- The client will be frozen 30 days prior to the fork.

Yes, there will be Drivechains:

- We have 7 in developement right now.
- Users can also submit their own.
- Drivechain is a vision of "competing L2s" -- this avoids the "dev capture" problem.
- These L2s are all Merged Mined. Miners automatically get free $.
- Our L2s are already capable of planetary scale, and onboarding 8 billion users.
- We also have a zCash-like L2, with strong privacy.
- Other L2s: Truthcoin (Prediction Markets), CoinShift (Decentralized Exchange), BitAssets (NFT etc), BitNames (Identity), Photon (Quantum Resistant).

Unlike BCH (the 2017 fork):

- There is no "Bitcoin" in the name. New name, new brand.
- You are getting advanced warning (4 months).
- We are replaying all txns (at first). We will release a coin-splitter tool.
- This is a permanent & sustainable fix to Bitcoin's problems (instead of a 1 MB to 8 MB temporary fix).
- Back in 2017, the BTC tech stack was strong, and expectations for Lightning were strong. Today, it is the reverse.

Video to follow.

From @Cointelegraph

cointelegraph.com/magazine/bitco…

Yes, congratulations - you're about the 5000th person to make this Wrong comment

Now let me explain (yet again) why it is wrong -- below ...

The Theranos scam worked the same way that lightning works:

Theranos took their board of directors on a tour of the lab. That's you. You come in, do the finger prick, put it in the machine, and then you are taken away on a "tour". As soon as you were out of the room, laboratory technicians came in, took the fingerstick blood out of the machine, took it away to a different room, diluted it with water, and did the traditional blood tests using traditional Siemens machines (ie a competitor). They then got the results, and printed them out, and put them in the original room with the Theranos machine, so that when the you return to the room it looks like the Thermos machine tested your blood.

In the lightning metaphor, this is:

- custodial lightning
- managed lightning
- submarine swaps

All of which **rely critically** on non-Lightning elements to survive. If these elements go away, the "Lightning" software is useless.

Tyler Schultz was a lab tech at Theranos who worked in validation. He knew, firsthand, that the machines couldn't possibly work. (That's me in the lightning analogy.) Tyler also had a grandfather on the Thermos board, with (in theory) the power to challenge / fire / remove Elizabeth Homes.

So Tyler went to his grandfather to warn him it was all a scam.

And the grandfather said?

"I used it yesterday! I know firsthand that it works!"

But that is false - you do not use lightning everyday. You are just being duped by a fraud. And by groupthink, wishful thinking, etc.

Same as Theranos.

Soon to be down 100%

But alas, Bitcoin can't go up much further.

It has already gone up 8 orders of magnitude, yes -- but to go up the final 2 oom, it would need to be used by most of the world (aka 4-8 billion people).

But the BTC culture does not prioritize this, instead it is pro-treasury, pro-ETF, pro-Lightning, etc