It's all of bitcoin against just one cheating, bully, really. Jihan Wu, meet UASF.

The only substantial thing that is holding back the activation of bitcoin's most important upgrade ever is the blockade by one powerful bully.

SegWit isn't only about allowing more transactions to take place on the blockchain, although it does do that.

It isn't only about fixing transaction malleability, although it does do that.

It isn't only that it is a soft fork which means that old wallets that haven't upgraded can still send and receive bitcoin, although it does do that.

It isn't only that layer two solutions are possible with it, although it does do that.

SegWit has even more to offer, for those who are willing to read up on it or watch hour long lectures about it.

For example, SegWit also allows for any new bitcoin script codes to be released as only a soft fork in the future. And that also makes possible operations that will increase privacy, fungibility and security. SegWit can also increase the amount of fraud proofs available in bitcoin, and it can make lightweight clients more secure.

But that one bully (and his little "gang" of bullying brutes) are holding up SegWit and lying through their teeth about the reasons for doing so.

They say they want bigger blocks, but SegWit is immediately a bigger block. They say they are for lower fees, but then Jihan tweets that SegWit will create unfairly low fees. They say SegWit is too complex, but for anyone with the chops to listen to and understand the aforementioned lectures, it is clear that it is a straightforward improvement in how transactions are grouped into blocks, which has been very thoroughly tested.

Yet we all sit and listen to these lies and delay tactics while that bully collects his high fees and mocks the users of the system.

Bitcoin was built to be decentralized because Satoshi knew that central power has been abused throughout history. The only thing allowing this bully to maintain central power is that we are intimidated by his bullying or are fooled by his lies.

But this technology has given each of us a trump card to play. We do not have to accept the blocks Jihan builds which prevent SegWit from activating. UASF, also known as BIP148, ends Jihan's tyranny immediately upon activation.

Other miners, those who see the big picture for bitcoin, those who don't secretly use ASICBoost, those who don't put trojan horses into their hardware, those who have the decency to not post pictures of murdered bodies when referring to the users of the system who want progress, those miners will choose to see bitcoin proceed with SegWit. Those miners have already installed SegWit and are signalling for its activation.

Users will choose to see bitcoin proceed with SegWit. Over 80% have already installed the client that supports it.

Exchanges will obviously choose to list (or rather keep listed) the bitcoin chain that supported by its users, developers and many miners.

The time is coming. Bitcoin Day. UASF Day. August 1st. Get your nodes ready and take bitcoin forward by telling that bully that we won't be intimidated any longer. All you have to do is run a UASF wallet before then and it will automatically boycott this bully's blocks until he too signals in favour of SegWit.

And great news: now Electrum has announced that its next wallet release will also support UASF, so you can wait for that release if you prefer.

This movement is building huge momentum based on its adherence to Satoshi's vision and the passion of all the participants in bitcoin who stand together against centralization and abuse of power.

Submitted May 29, 2017 at 08:36AM by logical http://bit.ly/2sbQixc