Topic: Another Flippening. The longest chain (Read 481 times)

No, that is semantics.

All possible fork types are not all in block race competitions, like with softforks
or hardforks. BCH was not a simple hardfork, but a "reverse bilateral hardfork"
so its chain has no connection to BTC, and thus considered an "altcoin".

If in the future BCH becomes the dominate coin for world economic purposes,
and BTC over time disappears, then BCH would be considered "Bitcoin", but not
because of the "block race" outlined in the whitepaper, but because it just took
over the cryptocurrency market in a more economic competitive way.

The whitepaper "block race" only applies when the two chains are fighting it out
to supplant the other chain, to become the only single chain. This is not occurring
with BTC and BCH, since they have been disconnected by a bilateral hardfork type.

They are on two separate disconnected chains that the Whitepaper does not ever
address. The whitepaper is written in the context of an untested 2007 thinking of
a theoretical idea, and did not plainly anticipate miners attempting to keep an
orphan chain alive through changes to the protocol and violations of consensus.
That is unaddressed since it is a violation of the "honest nodes" theory that
Satoshi incorrectly relied upon, originally.

So, block racing and longest chain does not apply here. Only who has the most
security between the two chains (ignoring other major issues that markets ignore
now, but will only be evident later in time).

Coin   Now               3h       6h      12h      1d              7d
BTC   63.61%   63.13%   64.03%   65.06%   67.42%   79.63%
BCH   36.39%   36.87%   35.97%   34.94%   32.58%   20.37%

Since the difficulty is much lower for Bitcoin Cash, it can't be the "longest chain" simply by mining a shitload of easy-to-find blocks. It needs the most cumulative proof of work (that's how Bitcoin works). Technically, they aren't in competition because BCH is not "valid" per the whitepaper.

Anyway, for BCH to have the most cumulative proof of work vs. Bitcoin, it will take quite a bit longer (given that we are already a few weeks out, and BTC still has a very significant majority hash rate).

Bitcoin cash is just a fork from the real bitcoin but miners will mine it just because it is the second highest coin in the market right now.

Don't worry.  Only the dumbest people struggle to figure this out.  Those idiots still listen to the censored crap on r/BTC.  People with a brain (minority) can figure it out and they easily see which is consistent with the White Paper.  It will take time, but the exodus is happening already.  Just look at where the hash rate is going: Hash Rate  The sooner you realize the inevitable, the more money you will make.

The masses (dumb people who listen to propaganda) will probably lose a lot or everything. Watch BTC price go down day by day.  Watch BCC go up day by day.  Price will follow hash rate.  Mark my words. 

Not for long. Don't you get it?

BCC is an altcoin. Didn't you get it?

What an idiot. 

All forks are 'in a block race competition' each with different blocks.  There is no distinction when each fork runs off with a thousand or more unique blocks or if they run off with just 3 or 4.  The longest chain is Bitcoin. 

That's all true - and also it wouldn't make any difference anyway, since the longest chain is determined by work done, not just which chain has the most blocks.  If it was otherwise, anyone could fork any blockchain, force a low diff, and proceed to outrun the main chain.

I've just made ReallyReallyElongatedCoin on my Etch a Sketch. Each block is over 17 miles long and that is a fact you can take to the bank and cash.

Its chain is now far longer than Bitcoin.

Bitcoin is DEAD.

Even though it's a completely separate blockchain that is completely incompatible with Bitcoin. It's longer. So get out while you can. I just measured the next block. The bastard stretches from Krakow to Vladivostok. What have I unleashed? 

No.

The BCH client was designed to fully separate from the BTC chain.
If a client is designed to prevent "replay attacks" then that new client
is actually a separate chain, where the two chains can no longer be in a
competition. The block race competition only exists because the two chains
are directly competing for dominance of a single chain, that is why "replay
attacks" can exist. It is so, because the two chains are like mirror images.

Since BCH has "replay protection", it is actually invisible to your BTC node,
and vice versa. For you to store the BCH blockchain, you need a BCH client.

Does this mean that my node is storing both blockchains in my files?

I told you so.

It's transaction time that is important not blocksize.

You guys knew I would make this post.

Longest chain does not apply in this situation since the two chains are not in a
block race competition. Longest chain in a hardfork only determines which chain
will eventually be abandoned. Since Bitcoin Cash was a "Reverse Bilateral Hardfork"
from Bitcoin, "longest chain" or "most hash" doesn't really mean anything of any
significance.

The statements of longest chain in the whitepaper was in the context that there was
always a single chain. When altcoins were created and hardforks became better
understood, "longest chain" theory was regarded as incorrect over the "most hash"
theory, for Bitcoin chain determinations.

Hash determines security. More blocks does not determine security.
Any altcoin can have 1 million more blocks than Bitcoin, but that doesn't make it
more secure than Bitcoin or the actual Bitcoin chain. That is just semantics.

If majority of hash leaves BTC and joins BCH, it could be said that BCH is "more secure",
in theory, though with over 50% of mining currently being performed by an unknown
entity (and we could safely assume who it likely is) it may not actually be as secure as
BTC prior to the hash switch. So it really depends on the specific situation.

Simply, longest chain is an old theory that was proven incorrect and revised.

The longest chain is 'Bitcoin'.  Very soon, Bitcoin Cash will have the longest chain.  They are making blocks about every two minutes now.  Difficulty doesn't reset for some time.  This means, they will make far more blocks than Bitcoin Core in the coming days and catch up.  Even take over as 'the longest chain'.  Does this make them the 'true' bitcoin as it clearly says in the white paper?  

Uh Oh.  

What do you think about that one?

Just look at all those blocks!  They have some serious hash rate now.
http://blockdozer.com/insight/