TUKANG KONBLOG

Make no mistake. The rats are scrambling off this BTC sinking ship. High Fees is an extinction event . Like all extinction events there is always a group of loutish and very vocal band of hard core deniers. Their arguments are hypocritical, and their reasoning always seem incomplete. BTC dominance below 40% Today BTC dominance dropped to 38.4%. Total Market Cap is still 600 billion. This means that value have flowed to other currencies this time to Ripple. Value flows to crypto through BTC because it is the main bridge with all fiat currencies. This happened before when value flowed to Ethereum. That was stopped in its' track because Ethereum encountered several major problems. ( DAO, more hacks and scaling issues ) Will Ripple become the new No 1 crypto coin? Possible but it will be temporary, until BCH takes over. This upsurge is a pump and FOMO event, timely as many investors are looking to exit BTC. The fact that bankers like it strengthens their believe that this could be a ma...

BTC : " Where should I go? What should I do?" BCH : " Frankly my dear, I don't give a damm "               This big block/small block saga like the story above, started well. So what happened? And as the question begs. Where should BTC go? What can BTC do? Sadly, for BTC there are no good outcomes. The Chain Death Spiral has set in and it can only have one ending. The BTC chain will come to a grinding halt, because the little hashing that is left, will not be enough to take it past the next difficulty adjustment, if it makes it past the one coming up. At the very core,(pun intended) the real difference between BCH and BTC is that people embracing BCH believe in the protocol while people embracing BTC believe in the development team. Because the protocol was held hostage by the development team, this current state of affair arose. Never again should we allow, or even make it possible for any faction, not even miners, hold the protocol hostage. We are n...

You can watch the progress of the Chain Death Spira l in real time. Watch the progress of the orange line. Hover over it to follow the current block time. Normal block time is 10 minutes. It is already at 13 minutes and increasing as more hashrate migrates towards the BCH chain. The graph is changed so average is 6 blocks per hour look to see BTC going towards zero.                                               Chain Death Spiral Real Time Monitor                                                         Check above data here  ( block time and hash rate ) This graph will show you how much hashrate have migrated to the BCH chain, also in real time. As I write it is approaching 23%               ...

Over 2600 years ago, far away in the mist of time, in ancient Turkey, the Lydians and the Medes had been at war for 5 years. According to the Greek philosopher Herodotus, in the year 585 BCE, in the midst of battle, there was a solar eclipse and day was turned into night. The Lydians and the Medes took it as an omen that the gods wanted them to stop fighting and so peace ensued. Tomorrow 21 August 2017 there will be solar eclipse over large swathe of the USA. On this day the Big Blockers and Small Blockers who have been at war for nearly 5 years decided to lay down their keyboards and peace came upon us and the community was once again united.....LOL NOT. Back to reality Over the last 3 days the whole of crypto and mainstream media was ablaze with the news of the nearly five fold increase in BCH price to over 1000 USD, sweeping aside all predictions of its' early demise. Of course to those of us who are of the opinion that the BCH fork was a fork back to the original bitcoin, we ar...

In 2005 Michael Burry discovered that the mortgage back securities that banks were selling to investors had included in them mortgages that were delinquent. This he recognised to be a fatal flaw and as history would record, he successfully engineered a long term bet against those securities in what we know today as "The Big Short". That there were delinquent mortgages in a package of securities was not unknown. The idea was that returns from the good mortgages easily covered the small losses from the bad. The problem however was that there was an insatiable appetite for these products and investors were willing to accept ever higher level of risky mortgages in their basket, to the point where these sub-prime mortgages were "manufactured" to supply the demand. Investors drew comfort from the widely held but faulty notion that house prices will keep rising and the property market will never collapse. They were wrong, and we are still living the result of that folly, w...

Here Is Why                           BTC      BCH       TOT        BTC     BCH         BTC       BCH         BTC                            ( Hash Power )                   ( Difficulty)           ( Block Time )    (mempool) 11 August            6600      338       6938         923        115       10.00         21            55 12 August            6199      416       6615         923        115 ...

Greater adoption especially in Japan. True. Higher prices leading to greater interest and media hype. True. Large investors and hedge funds investing. Also True. More people trust the Core developers. Perhaps True. Segwit is locked in and will activate soon. Maybe True. But what if the people in control allow it !? So who are these people in control? They are the people who simply by their action will affect the price. No, not the market manipulators as their desired results are not guaranteed and effect only temporary. No not the developers or even users. I am talking about the people in control of the hashing (mining) power, and by their action supporting or withdrawing their hashing, affects the success or failure of a chain. For the first time in Bitcoin history. if the miners withdraw their mining power from mining BTC, transactions on the BTC chain will grind to a halt. ( See Chain Death Spiral ) Block confirmation time will be exceeding long and user experience so bad that BTC...

In this article I present the facts as I see them and leave it to you to reach your own conclusions. My opinions are my own and I encourage you to do your own due diligence . I could be wrong. It is your hard earned money. Rehashing and analysing the figures over the period of the fork it is clear now that Bitcoin Cash had a difficult birth. Looking back I am convince that it would have been highly unlikely to succeed. I think what eventually happened was planned and executed by persons unknown who clearly wanted Bitcoin Cash to succeed. The key is to analyse the available hash power and look at how it was applied. Refer here to Jimmy Song's article on how the Emergency Difficulty Adjuster  (EDA) kicked in. Before it can be activated at least 12 blocks must be mined! ( The UAHF specifications . Starting block 478557 .) The First 12 Blocks                                         ...

Back in Bitcoin history, when Argentinian millionaire Wences Caseres ( Xapo, Paypal) came across Bitcoin he saw it as a potential solution to the periodic financial turmoil that totally wipes off the wealth of hard working Argentinians. In what I consider a very prudent act of due diligence, he paid a couple of hackers a sizable amount of money to hack and break the fledgling Bitcoin. Their conclusion was that it was unbreakable and that has remained true until today. The Bitcoin protocol has never been hacked. The vulnerabilities were the trusted infrastructure around it like the exchanges. The most memorable being MT Gox. However on the 1st August 2017, Bitcoin main chain forked and a new coin Bitcoin Cash (BCH) came into existence. Some argue that it is closer to Satoshi's vision than the current Bitcoin (BTC) which separate the data portion from the address portion of the data structure. BTC became the main coin because it was supported by the majority of users, developers, Bit...