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An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 4:49 pm

All.


Maybe e-mail is not the best place to do this, but there aren’t many better choices that come to mind right now. Please feel free to quote me and forward this to anyone you see fit. You may even Post it on Reddit or other forums or simply ignore it.

To anyone reading this who was not on the original To: list. It simply means that you were not at the top of my inbox and nothing else. no one has been excluded on purpose at all.


We are clearly facing a crises like we have never faced before in the bitcoin echo-system. It appears to be completely caused by humans this time. It should be seen as a success issue, even if it’s not a nice problem to have.

Bitcoin is, as I hope you all agree, still very very small on the size of global acceptance. We have a long way to go before it actually realizes its true potential. I personally believe that bitcoin can become a great system for many things in the future. We may all have different ideas on where Bitcoin is going but I don’t believe for one second that anyone here will want it to stop and stay exactly where it is.

The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.

We have on-boarded about as many users as we can. There simply is no space left to expand bitcoin. There are many competing ideas there are many smart people and possibly to many ideas. The fact remains the same:
Most of the latest development ideas coming out are not addressing our issues this time. So it will fall back on us to protect what we have built and let it expand into what we think it can become.

So I propose that we jump to 2mb in the Bitcoin classic idea. Not only will this allow us to expand bitcoin and on board more users, it will also show that:

· We will protect our investments and businesses.
· Sound economic rules govern bitcoin businesses and not just ideological ideas.
· Under pressure we can make tough decisions that are for the best of bitcoin and not for any one individual company.
· The ideas and fixes the development team produce need to be more influenced by the economic requirements we have, not just the technical ones.

Now for the other maybe good maybe bad things

· It will cause more rifts in the development teams.
· It will cause us all to go through the pain of a hard fork.

The lists above are not meant to be extensive or exhaustive and there are many that can be added to either side, but the main point is this: It’s no longer really a choice to simply stand still and wait for others to fix this problem.

I propose that we all simply stand up and stand behind bitcoin. Allow it to grow more in the simplest way possible, and I can’t emphasize enough how important simple is to this process. Humans are making this complex we don’t need technology to make it more complex.

So with the above said: We will be changing our code to run 2mb bitcoin classic ASAP, please join me in changing your code to run the same or public show your support.


Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
KnC
http://www.kncgroup.com
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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 4:55 pm

Thank you for posting.

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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 5:47 pm

Awesome!

I'm still waiting the release of Bitcoin Classic though....

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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 5:55 pm

The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.
Yes, and when another coin overtakes it, it will implode.
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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 6:17 pm

Thanks for sharing this Roger! Glad to see things such as this.

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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 6:36 pm

iam welcoming these ideas but for now iam fine with cores roadmap. they try to squeeze the maximum out of the code without making bigger blocks (there are reason for that). so we can put more in 1MB blocks and we have the maximum of decentralization.
as far as i understand it, they want to increase blocks at a later time. there are alot of improvements coming too.

but if they would have adopted 2MB blocks, alot of trouble had never happen. a better way in my view. :roll:
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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 6:43 pm

This just made my day!

Finally someone with the power to make a real difference stands up and makes a decision. The right one for now I think.

I will also switch over my 3 XT nodes to classic once it becomes available. I don't care this time if people will try to ddos. In that case I will just set up a better ddos protected server. The change is too important to be sabotaged.
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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 6:54 pm

This coming from the CEO of one of the people that give bitcoin a bad name?

To Sam Cole, I submit the following as reply to your letter:

https://www.cryptocoinsnews.com/kncmine ... es-better/

https://www.cryptocoinsnews.com/bitcoin ... -lawsuits/

http://www.newsbtc.com/2015/12/13/knc-m ... he-arctic/

http://blogs.wsj.com/venturecapital/201 ... me-miners/

Frankly, your open letter, (while it might advocate a needed blocksize increase), is an insult to the intelligence of the entire community. So you honestly think that after your company's actions thus far, anyone gives you even the slightest amount of credibility?

"· We will protect our investments and businesses."

What about the people who invested in mining equipment you were selling? How protected were they from YOU? I don't see KNC as a public mining pool, but instead a private one, just like Bitfury. You have the audacity to speak about what's good for the network, when you are one of the largest contributors to it's centralization?

Bitmain may be another one contributing to the centralization of Bitcoin, but they at least sell their asics to the public, run a public mining pool, endorse P2Pool, AND offer their own mutually profitable cloudmining operation. What have you contributed to the Bitcoin community other than fraudulent sales, and scandals?

Don't misunderstand, I am completely in favor of capitalism. I understand your decisions, but please, if you make commitments and offers of products, live up to and honor them. As far as I'm concerned, your letter is worth less than used toilet paper.

This is just one opinion, and I'm certain there may be others, but as far as I'm concerned, you have no credibility.

--Mr. Ver, Thank you for posting the letter you received from him.
Last edited by Ardhail on Fri Jan 15, 2016 7:29 pm, edited 1 time in total.

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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 7:23 pm

Sam Cole is going on my "good guy" list. Thank you for this email, sir!

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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Fri Jan 15, 2016 10:42 pm

This just made my day!

Finally someone with the power to make a real difference stands up and makes a decision. The right one for now I think.

I will also switch over my 3 XT nodes to classic once it becomes available. I don't care this time if people will try to ddos. In that case I will just set up a better ddos protected server. The change is too important to be sabotaged.
If you are hit with a DDOS, just let it roll off. I see a lot of businesses caving into demands, I tell my clients that you can't give in because when the group needs more $, they will come back again. We did attack back once, attacking all the ip's sending the packets...it worked well until 3 carriers dropped 137 servers of ours for DDOS violations. Since then, as said above, just let it roll off. Nobody can keep a DDOS going for more than a month, let alone 2 weeks. "Chop it up as vandalism expenses", or - if you can find them, you can take away their keyboards and beat them :)
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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Sat Jan 16, 2016 4:35 pm

If you are hit with a DDOS, just let it roll off. I see a lot of businesses caving into demands, I tell my clients that you can't give in because when the group needs more $, they will come back again. We did attack back once, attacking all the ip's sending the packets...it worked well until 3 carriers dropped 137 servers of ours for DDOS violations. Since then, as said above, just let it roll off. Nobody can keep a DDOS going for more than a month, let alone 2 weeks. "Chop it up as vandalism expenses", or - if you can find them, you can take away their keyboards and beat them :)
Thanks. I would never consider caving in to ransom demands. What I am talking about is that my hosting provider would not be very pleased if I get hit with a DDoS. They would probably just terminate the server and null-route the traffic rather than absorbing the attack. So I would need to look for a better hosting provider in that case.
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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Sat Jan 16, 2016 9:06 pm

If you are hit with a DDOS, just let it roll off. I see a lot of businesses caving into demands, I tell my clients that you can't give in because when the group needs more $, they will come back again. We did attack back once, attacking all the ip's sending the packets...it worked well until 3 carriers dropped 137 servers of ours for DDOS violations. Since then, as said above, just let it roll off. Nobody can keep a DDOS going for more than a month, let alone 2 weeks. "Chop it up as vandalism expenses", or - if you can find them, you can take away their keyboards and beat them :)
Thanks. I would never consider caving in to ransom demands. What I am talking about is that my hosting provider would not be very pleased if I get hit with a DDoS. They would probably just terminate the server and null-route the traffic rather than absorbing the attack. So I would need to look for a better hosting provider in that case.
You think so? If you didn't provoke the attack, they should be protecting you. I've lost servers defending myself, but never for being the target of a DDOS. Either way, definitely talk to your hosting provider if you are ever in that circumstance!
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Fix Your Unconfirmed Transaction.

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Re: An Open Letter from Sam Cole (CEO of KNC Miner)

Sun Jun 21, 2020 5:14 pm

there have been too many cases like this.
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