Title

Despite all the interesting upgrades and new services that have been built on and around BCH and the use as p2p cash in some pockets of the world it almost looked like someone wanted it out of the top 10 and then top 20. As soon as it hit top 10 the big selling started.

Update: P2Pool-main has been attacked too, today (June 16th) at 00:02:46 UTC - see the log https://p2pool.io/p2pool_main_attack.log.xz All P2Pool miners, you must update to v4.16 immediately if you don't want to mine to the attacker's wallet! Update here: https://github.com/SChernykh/p2pool/releases/latest

Update 2: Me and DataHoarder are currently running a counter-attack by mining malformed blocks ourselves - to hijack the payouts from the attacker and redistribute them to miners later. Currently doing it on p2pool-mini. We will ask the community for more hashrate later, once everything is set up properly.

Both P2Pool Mini / Nano older chains (that did not upgrade to P2Pool v4.16) have been exploited by an unknown attacker targeting the vulnerability patched: https://github.com/SChernykh/p2pool/security/advisories/GHSA-fm6j-gf38-p925

P2Pool Main is probably having the attacker wait to mine a share.

Upgrade as soon as possible https://github.com/SChernykh/p2pool/releases/tag/v4.16

More than half of P2Pool Mini/Nano are still not updated, so their hashrate was lost to the attacker:

https://preview.redd.it/ofujl1orzd7h1.png?width=1613&format=png&auto=webp&s=3c863342a427fb0022fadb8a707faffc9dfc4484

Hear me out on this. I was thinking about the ultimate end-game of hyperbitcoinization, and I stumbled into a bizarre paradox. If the Lightning Network becomes as fast, cheap, and seamless as Bitcoin maxis hope it will, could it actually end up undermining the very security of Bitcoin itself?

Think about the onboarding process. Right now, the goal is to get everyone onto Layer 2 because we all know the base layer can't scale to handle global, day-to-day commerce. But here is the catch: once a user is successfully onboarded into a Lightning channel, why would they ever leave?

If people move to Layer 2 and are just exchanging off-chain IOUs indefinitely, it creates a fatal economic flaw for the base layer:

The Fee Market Collapse: Bitcoin's long-term security budget relies entirely on transaction fees replacing the block subsidy. But if most daily transactions happen off-chain on Lightning, L1 transaction volume effectively dries up. Fewer L1 transactions means plummeting fee revenue for miners. If mining ceases to be profitable, the network's hashrate drops, making the entire foundational ledger vulnerable to 51% attacks.

The ultimate irony is that the better Lightning gets, the less economic incentive anyone has to interact with the base layer that secures it. By solving the scalability problem, they might accidentally be engineering a slow-motion vampire attack on Bitcoin's foundational security.

Change my mind.

Title question.

Any other condition?

Title question.

Any other condition?