The Beginning of the War
Barry Silbert, the barometer of the cryptocurrency community and CEO of Bitcoin’s multi-army head, Grayscale, took the lead, tweeting that he had shorted Dogcoin and calling on the cryptocurrency community to join in the shorting of Dogcoin. This upset Musk, the dogcoin bandwagoner and spiritual leader of the dogcoin community. Musk then launched a counterattack, suspending Tesla Bitcoin payments, accusing Bitcoin of being highly centralized, mining centralized and unsuitable for payments, and announcing a revamp of Dogcoin to make Dogcoin a world currency.
Unsurprisingly, Musk became the public enemy of the Bitcoin community for a while, and in combination with Musk’s series of tawdry operations, the entire cryptocurrency market plummeted continuously, sparking widespread discontent in the cryptocurrency community. The purpose of Musk’s attack on Bitcoin is self-explanatory, that is, he wants to cut Bitcoin’s life through Dogcoin and take its place. The Bitcoin community is certainly not going to sit still and fight back. The war between Musk and Bitcoin is also known as the “Second Bitcoin War”.
History is surprisingly similar
As cryptocurrency veterans may recall, the bitcoin network has been congested since 2014, and with fees remaining high for a long time, bitcoin expansion was imperative, but the community disagreed on how to expand, and it was difficult to reconcile the differences, resulting in a three-year long expansion battle. Core is responsible for the development of bitcoin, but miners, represented by Jihan Wu, are responsible for bitcoin’s network security.
The Big Block Revolution
The final result of the expansion battle was that the two sides parted ways, with Bitcoin splitting into BTC, a small block, and BCH, a large block. however, both sides advocated that they were the real Bitcoin, and at the back BCH set off a big block movement, and for a time BCH was the most beautiful star in the cryptocurrency world. at one point BCH was the second largest cryptocurrency by market cap, with a maximum unit price of about 0.4 of Bitcoin. BCH rose 10 times in a wave in 2017, with a trend of taking over Bitcoin. Behind, the bear market came, and although BCH survived, the big block revolution ended in failure.
The dog coin revolution and the big block revolution are similar in that they are both trying to launch a war against bitcoin through large blocks and low fees as a gimmick, the market didn’t buy BCH, and the dog coin market will probably not buy it either.
In addition, the gossip says that the first address of the dog coin holdings is Musk, and the fourth address of the coin holdings is Musk’s mother. This may explain why Musk so hard to shout single dog coin, businessmen can not change the nature of businessmen.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/history-is-strikingly-similar-as-the-unbelieving-musk-launches-a-second-bitcoin-war/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.