Bitstamp To Be Banned By Theymos For Supporting BIP 101

Bitstamp To Be Banned By Theymos For Supporting BIP 101

Bitcoinist_Theymos Bans Bitstamp

The drama between Theymos and anyone who isn’t following his hidden agenda is far from over. Earlier today, popular Bitcoin exchange Bitstamp announced how they will be implementing BIP 101 in a few days. As you would come to expect, it was only a matter of time until Theymos issued a comment on how Bitstamp will be removed from all Bitcoin references, including Reddit and the Bitcoin Wiki.

Also read: Greek Banks Asked To Pay Bitcoin Ransom

Bitstamp To Be Banned From Bitcoin Resource PlatformsBitcoinist_Bitstamp

Nejc Kodric, CEO, and co-founder of Bitstamp took part in the largest Bitcoin AMA in history on the forums earlier today. One of the questions from the community was how Bitstamp feels about the ongoing Bitcoin block size and scaling debate, and what stance they would take.

It should come as little to no surprise how Nejc answered with the sentence a lot of people had expected: Bitstamp will support BIP 101 come December 2015. Similar to nearly every other major Bitcoin company, exchange, or platform, Bitstamp will support the BIP 101 proposal, which seems to the favorable choice of the community as well.

However, this is where the problems ensue. As BIP 101 is officially listed as a ”fork of Bitcoin”, the owner of the Bitcoin Reddit and Bitcointalk has deemed this proposal to be an “altcoin”. As such, altcoins have no place on the /r/Bitcoin subReddit, and it is expected most references to Bitstamp will be removed from the platform as soon as they show up.

Note from the Author: One of the /r/Bitcoin moderators said how most discussion regarding Bitstamp will still be allowed. Take this comment with a grain of salt, as free speech on /r/Bitcoin is hard to come by.

But that is not all, as Theymos will demote Bitstamp to the “Altcoins” section on the BitcoinTalk forums as well. This is, once again, a perfect example of how a discussions about a decentralized currency should not be controlled by one central authority. Regardless of how Theymos feels about BIP 101, a large part of the Bitcoin ecosystem disagrees with his point of view.

There is still one issue that will need to be addressed at the upcoming Scaling Bitcoin event, and that is getting the Chinese mining pools on board. None of the major Bitcoin mining pools is in favor of the BIP 101 proposal, and as they control most of the network hashrate, some sort of consensus will have to be reached sooner rather than later.

All Eyes Are On Scaling BitcoinBitcoinist_Scaling Bitcoin

The next Bitcoin Scalability Workshops, which take place on December 6 & 7 in Hong Kong, will be critical to reaching any form of consensus regarding the Bitcoin block size moving forward. Technical proposals will be presented and reviewed, and simulation and benchmark results will be run to see their potential effect on the Bitcoin ecosystem.

There are multiple proposals on the table that need to be weighed carefully. Bitcoin’s scalability issues have been a topic of discussion for quite some time now, and a solution has to be found before the next block halving.

What are your thoughts on Theymos’ stance to ban all Bitstamp references? Let us know in the comments below!

Source: Reddit

Images courtesy of Bitstamp, Scaling Bitcoin, Shutterstock

Jp Buntinx

Jp Buntinx

JP Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world. In other notes, Jean-Pierre is an active member of the Belgian Bitcoin Association, and occasionally attends various Bitcoin Meetups in Ghent and Brussels

  • Erik

    All the smartest big players are choosing for BIP101, all short sided players opt to stay with core and wait, all the greedy miners chose BIP100.

    Seems quite simple then whom we should trust and follow, isn’t it ?

  • It matters not one iota what Bitstamp, exchanges or “big players” want. Only miners can vote for BIP 101. See blockchain blocks version”>blockchain blocks version to see how mining pools are voting for BIP 101. Bitcoin XT is dead on arrival.

  • Erik

    I am glad, that DASH has a better voting system how to move forward on such decisions. We will see if short sided greedy miners will break bitcoin

  • steeev

    node count for XT is low, and there is contention over how many XT nodes actually exist, rather than being spoofed – so if miners and nodes don’t want XT, it’s left to whoever gives the impression of being the ‘community’ that supports the XT/101 approach to make all this XT/101 noise on reddit/wherever…

    the general pushiness of the XT camp has helped forment the theymos response – i don’t do handbags, but suffice to say this node aint XT…

    i can’t see how it pans out, so i just rely on my instinct -and the hearn/andresen axis just don’t feel right…

  • vatten

    Since a fork will make pre-fork coin valid on both chains, it really depends on who have more coins. If BIP100 supporters have more coins, they will dump their pre-fork coins (millions of them) on bitstamp (on new chain after the fork) when a fork is shaped, make all the coins on that new fork basically worthless. At the same time, all the BIP101 supporters will dump all their pre-fork coins on original bitcoin chain at rest of the exchanges, and see how much BIP100 fans there will pick their original coin.

    So, a fork is a Mutual Assured Destruction, and I guess the original coin will survive the nuclear war because after that the transactions on blockchain will dramatically reduce and then the original chain will be as good as now

  • Nick Sulkowski

    Sad to see how easily something so pure as the idea of Bitcoin can be made as ugly as every other ugly thing in this ugly world controlled by greedy HUMAN BEINGS. Theymos censoring Reddit !? Seriously? You become the very thing you purport to hate, namely a controlling centralized authority. If you can’t get Free Speech right, how can you pretend you know how to get Real Money right? All good things are ultimately twisted to facilitate the greed of the powerful, period! I guess the concept of a sort of financial system Nirvana in Bitcoin is about as realistic as a Democratic America. What starts our well intentioned, in the end, because of greed becomes nothing but a grotesque version of what it should have been. Very sad, yet apparently a law of nature.

  • Caz Brewer

    Once the majority of exchanges go to BIP101, then it is just a matter of time until the majority of miners do as well.

  • Caz Brewer

    It’s disturbing to see people utilize their influence in ways that are malicious.