- SharkPool will mine a variety of crypto projects, then dump all mined coins and buy Bitcoin Cash (BCH)
- ‘Enemies’ include all altcoins other than Bitcoin Cash, as well as forks of BCH they do not like
- The gameplan is to decrease the utility and price of all other altcoins while strengthening BCH
A new mining pool called Sharkpool is recruiting. The pool aims to prove Bitcon Cash the ‘true’ Bitcoin by sabotaging other altcoins by mining empty blocks (not accepting any transactions), then dump the mined coins on the market and buy BCH.
The firm believes that only their version of the bitcoin cash is favorable and termed other versions as “acts of war against Bitcoin”:
“All alts, including forks and splits are acts of war against Bitcoin and are going to be treated as such. SharkPool miner will exclusively mine empty blocks on alts and sell the profits for Bitcoin (BCH).”
The group called upon key market players to join them in the war against those that are working against cryptocurrency’s success. “We are looking for capable generals…”
SharkPool’s Game Plan
Cashpay solutions, which is the mother company of SharkPool, also has other programs under its guardianship such as e-commerce platform Cryptonize. They recently granted independence to their eponymous CashPay Wallet system.
In a tweet,yesterday by CashPay co-founder Ari Kuqi announced that he does not intend to step down on his promise against the contemptible alts and “shitcoins.”
“I’ve been saying for a year I will hunt down alts, ICO’s and shitcoins and bury them. It’s time to deliver on that promise.”
Still, in the tweet, he continued to say “If you don’t have a seat at this table, you’re dinner.”
SharkPool plans to use an aggressive attack plan. By mining empty blocks and converting them to bitcoin cash (BCH), they would lower the buy pressure on prices of other networks. Blockchain miners get paid both for generating the blocks and contributing towards the crypto ledger. Their rewards come in two distinctive forms – newly generated coins and miner fees.
By focusing on mining of the empty blocks, SharkPool will forfeit transaction fees, as well as reduce efficiency in the processing of transactions by the networks. If SharkPool manages to attract a vast following, the vast harsh power could theoretically cripple smaller blockchains.
Also, the colossal hashpower would cause disruptions by increasing unconfirmed transactions. If they use a spam attack in the incursion, they could clog ‘enemy’ chains completely. At least for one chain at a time. Temporarily. But mostly it would just make them look like dicks.