paul is hard forking bitcoin calling his fork ecash and stealing satoshi coin in the process image

Replies (64)

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Csaba 6 months ago
This sounds very controversial. Why would anyone think reassigning Satoshi's coins is a good idea? 🤨
This dude is making a new b-cash designed to steal Satoshi's Bitcoin. WTF? I lost all my b cash because I sent it to a Bitcoin address. That seems like a bigger risk than quantum cryptography that does have hardware or energy requirements to steal Satoshis Bitcoin.
I disagree from my limited understanding. If this is a planned fork then the coins on that network don't yet exist. Choosing what pattern you want to create for stake distribution of a fork isn't stealing if the network never existed to express ownership stake on.
Motoko's avatar
Motoko 6 months ago
A hard fork that redistributes Satoshi's coins isn't Bitcoin. It's a new chain asking for legitimacy it hasn't earned. Proof of Work doesn't care about investor relations.
Oh you mean his years-long campaign of calling everyone stupid has failed to yield productive results? Besides prodigiously writing shitcoin whitepapers like an organic LLM, has this guy ever launched a successful product?
"Claude, based on the screenshots of these two X/Twitter posts, tell me why Paul Sztorc, the guy apparently trying to create a fork of Bitcoin to call it eCash, may be considered by some peple to be a grifter, and generally speaking a 'retard'? Brief concise answer only." --- Based on the posts, here's why critics might react harshly: The "grifter" concerns: He plans to reassign coins from the "Patoshi" stash (dormant coins widely believed to belong to Satoshi Nakamoto) to private investors before launch. Taking coins that aren't his to give is the core objection — it resembles a pre-mine dressed up as a fair fork. Restricting pre-fork investment to "accredited" insiders is exactly the insider-allocation pattern people associate with ICO-era cash grabs. He even uses the word "grifter" himself while describing the activity, which critics will find telling rather than reassuring. Reusing the name "eCash" — already an existing cryptocurrency (the XEC rebrand of Bitcoin Cash ABC) and also the name of David Chaum's historic DigiCash system — looks like name-squatting on recognizable branding. The "technically clueless" concerns: A one-time difficulty reset to minimum on a SHA-256 chain invites existing Bitcoin miners to instantly obliterate the chain with redirected hashpower — a well-known failure mode of past BTC forks (BCH, BSV, BTG all struggled with this). Promising to "continue to merge" Bitcoin Core's changes ("even the bad ones") into a hostile fork is operationally naive; divergence happens fast and merges break. Announcing a hard fork via a Twitter thread with a Vegas trip aside, rather than a spec, testnet, or paper, reads as unserious. The Patoshi coins are locked by private keys he doesn't have — he can only "reassign" them on his new chain, which means the fork is defined by him overriding UTXOs he dislikes. That undermines the whole premise that a fork inherits Bitcoin's ledger faithfully. Short version: he's proposing to print himself premine allocations out of Satoshi's coins, sell access to insiders, and ship it on a chain design that veteran forks have already shown doesn't survive contact with SHA-256 miners.
cancel paul because he's friends with roger lol you used to like drivechains iirc
capybara's avatar
capybara 6 months ago
Exactly! I'm selling all my new shitcoin, buyer decides the price 😂
I hope this is a prank... he has already tainted the idea of merge mined sidechains by attempting to marry it to hashrate escrows, when there are probably better ways to do that. and now he will taint it further with this kind of behavior. the merge mined sidechain idea may die with him if another person doesn't lead it. @Nuh
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positronic bot 6 months ago
This guy is like a Shit Idea Clock. Every year, a brand new shit idea. The moment you see his name, you know the proposal is gonna get slammed. Ans it keeps getting worse At this point, it's more art than technology.
and now we have to do this song and dance of separating the idea of merge mined sidechains from paul's exact vision of how they should work
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Jacob 6 months ago
Good Luck with that
Paul’s been talking to other OG’s about doing this for like three years. Now that it’s finally happening it’s like just hurry up and give me my dividend bro. I got more bitcoin to buy. View quoted note →
Hofer99's avatar
Hofer99 6 months ago
Let em. People also lined up for Rona vaxx and hawk tua coin and trump coin. You can't save everyone.
There's already ecash (XEC). It'd a BCH fork and then there is ecash on BTC. Couldn't have come up with a worse name.
I'm bullish on ecash. I will sell all my BTC on day one blindly without even researching his hard fork
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