Bitcoin Unlimited Chief Scientist Peter Rizun: Wait On Bitcoin ABC’s BCH Fork
Bitcoin ABC is reportedly looking to hard fork BCH in order to enforce a lexicographic ordering for improved scaling. Nevertheless, Bitcoin Unlimited’s Chief Scientist Peter Rizun has openly declared “let’s wait” on the measure, affirming it may do more damage than good for now.
On August 12th, Peter tweeted out on August 12th that Bitcoin ABC’s coming November 2018 hard fork of Bitcoin Cash should be put off.
In November, Bitcoin ABC plans a hard fork to enforce a lexicographic ordering of TXs in blocks, making the current natural ordering invalid. The rationale was improved scalability; but there is evidence this change would hurt more than help.
— Peter R. Rizun (@PeterRizun) August 12, 2018
As evident from the Tweet, Peter Rizun’s new call for a postponement, he cited a paper entitled “An opinionated critique of the ‘Canonical Transaction Ordering for Bitcoin’ white paper, written by Joannes Vermorel et al.”
The author of the paper argues that starry-eyed inadvertent construction of red herrings has to lead to false conclusions and false support regarding the removal of the transaction order. In the author’s own words,
“I think [my argument] demonstrates why we should all really ask ourselves whether we want to go forward with this in November or postpone this to have a second look. Particularly the in-the-field observation by Tom Zander that at least one current implementation suffers from a reduction in validation speed concerns me greatly and tells me that it is rather a good idea to wait a bit more with a further analysis and proper addressing of the above criticisms. Which are not only made by me or Tom Zander btw., I am sure I have seen some of them being made elsewhere, in comments deep on Reddit and similar. So any reader who wants to be properly cited as having prior art here, please drop me a link.”
BCH In The Media Because Of Bitmain’s IPO
Earlier BitcoinExchangeGuide had bought you a story showing Bitmain to have gone broke because of BCH mining. Samson Mow, CSO of Blockstream and vocal critic of Bitmain Tweeted:
According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets. pic.twitter.com/9BMywdvvby
— Samson Mow (@Excellion) August 11, 2018
He added, “The Bitmain IPO is incredibly risky for any investor to buy into. The potential for massive losses is just around the corner as they have no idea how to maintain BCH, but are all-in. Play stupid games, win stupid prizes.”