Topic: COIN WARS: And the battle begins... - page 3. (Read 3513 times)

Well for one, I'm not going to read all your posts, because I don't think it's really that necessary and I wasn't trying to sound all butt hurt or anything.  I'm just saying that generally posts about altcoins will go over better in the altcoin section... Hell, I go there from time to time to read up on the new and upcoming technologies that altcoins create.  I like innovation, and am not a trader.  I think Ethereum is good for whatever purpose Microsoft sees it deemed fit, but if I'm not mistaken I think it's just a database type of platform, and not really an improved version of Bitcoin by any means necessary. It's fine if someone corrects me by shedding some new light on Ethereum, I really don't care... all I've read though, is that it's a database platform that was, I guess, bought out by Microsoft for Azure.

I think you're right though, there will have to be side chains for the longevity of Bitcoin... whether that's with altcoins or not.  In my mind, there has to be a more private side chain (which you could argue that Monero/Dash[instamined]/Zerocoin[not yet created]/Boolberry is it), a fast transaction chain (which you could argue that Litecoin/eMunie[not yet created]/etc... is it], and then the gold standard which would be Bitcoin...

I believe that there will ultimately be three coins, including Bitcoin, will go the distance that fills these niches.  Whether another altcoin comes about that proves it self worthy is one thing, but I really don't think that Ethereum functions in a way that a currency should function.

Edit: Full disclosure, I'm not a trader... just someone who is also interested in altcoins for the same reason as you.

Maybe you should read all my posts.  This is the 1st time I have ever mentioned Ethereum.  I have spent the past 2 weeks silently researching.  2 weeks ago I was 100% in Bitcoin.  I have always said I will end up 40/60 or 50/50 or 60/40 in Fedcoin/Bitcoin.  

I am a long time supporter of scaling intelligently.  I m on record as believing Mike Hearn / XT was a moronic, stupid path.  I am on record as thinking Core/Blockstream are filled with conflict of interest that they are ACTIVELY using as guidance in their decisions.  I detest both sides.  Classic is an intelligent, middle of the road path.  I also support Segwit, though not as a scaling solution.  I do NOT support Lightening, although it could be a brilliant part of the eventual scaling solution.  I think sidechains are actually going to ultimately be mandatory to the long term survival of Bitcoin.  But I hope someone else develops it, because right now it is BS vaporware, and I will never trust Blockstream, and never support any project they are involved in.  Although, myself and many would immediately forgive and forget if they IMMEDIATELY CEASED AND DESISTED in this counterproductive scorched earth policy path they have chosen.

But in regard to Ethereum price.  Who gives a crap?  Its up.   Its down.  Same goes for bitcoin.  I am not a trader.  I am a hodler.   But I am wise enough to know when to hodl my little a$$ over to the sidelines.  And that time is approaching.  Might as well make money doing it.   I am upfront as to what I am doig, what I am holding (percentagewise at least).  Hell - if you want a trading tip.... go buy Emercoin.  Second it hits the real exchanges it is going to soar.  I own none because I am not a trader. 

I am sticking to what I have always said.... I will diversify between Fedcoin (Ethereum in Western world) and Bitcoin

I really don't understand where you are coming from here..  I know that Ethereum has been garnering a lot of attention from the altcoin community, as it was recently pumped because of Microsoft speculations; but I really don't see how it is going to "revolutionize" the bitcoin dynamic because it is a mere form of a type of data storage, rather than a coin (I think).  Plus, I just went on poloniex to check the current price of Ethereum out of curiosity after reading your OP, and it's like down 12% or so... so I don't see what you mean by people hedging a lot of their Bitcoins into Eth.

Edit: The more I think about it, this is just a typical FUD post by a huge Eth supporter.  Maybe you should post this in the altcoin section.

Well..... you can see money moving out now.  Its because people are seeing that Blockstream/Core supporters are making it clear they plan to go to war.   But this war will happen. 

1st Stage of the war is that the Classic Code becomes available.  It will be quickly adapted and will "trigger" the 2nd stage.  It is at this point that I see Bitcoin going up due to the euphoria that at least something is getting done, and hope that bitcoin will soon be rid of Core/Blockstream,a nd development can continue on normal course.

2nd Stage is the "Activation".  That is when the actual Fork occurs.  If it looks like that will get messy, then investment traders will flee like the plague.  Rumours and bad news will spread, and fear and shorts will drive price into the ground.

3rd Stage is Classic Fork emerges victorious after slaughtering Core.  Investment returns, happiness reigns.  The REAL war with Ethereum starts.

I think a week +/-, perhaps sooner.

A hard fork will not prevail until small sized transactions (1 or 2 inputs and 1 or 2 ouputs) take many hours or days to confirm. Currently the only "My transaction won't confirm" posts are from those that don't understand the relationship to the KB size to the fee of the transaction. These transactions usually have dozens of inputs and/or outputs, creating a very large transaction with a tiny fee(less than 1000 satoshis per KB) so it takes forever to get confirmed.  Once the small transactions get 'stuck' then it will be possible for a blocksize based hard-fork to succeed.

Sorry for the multiple questions... do you foresee the price of ether/ethereum will increase due to the hard fork?

Well - no reason to be scared.... if you are informed.  Basically, once Classic is released, people will begin immediately downloading, and miners will start mining blocks voting for Classic.  The support is there, and probably within days we'll see 750 out of 1000 classic blocks mined.  THAT 75% will trigger the fork.  But the fork will have a 30 day grace period before it "Activates".  

Its the "Activation" that you have to be aware of.  The second that deadline (which will be widely announced and pre-determined so it won't shock anyone) occurs..... IF Core/Blockstream supporters fight back, and try and keep the Cor chain running - things could get messy.  people could get "tricked" into spending their coins, or trading their coins, or moving their coins onto the Core Chain (which will be the losing chain).  Those coins will FOREVER be trapped on the Core Chain, and will most likely eventually go to Zero$.

The longer the confusion lasts (could be hours.... could be weeks / a month) the worse things will get.  But there is a solution, 2 actually....

1) Don't move your coins around.  Just get them off any small wierd exchanges that will not publically be on record as supporting the Classic Chain, and just hunker down until it is over.  Your coins will then probably return to normal value, and then start climbing again.  But it will possibly be scary.
2) If you are a trader.... you will move your coins out of Bitcoin before the Activation, and ito altcoins.  I've already moved mine into Fedcoin (Ethereum).  I'm currently 70% Ether / 30% Bitcoin.  If Core/Blockstream doesn't quit the BS.... I'll go to 90%/10%.   BUT after the dust settles, you'll see huge inflows back into Bitcoin.

But people need to be aware of what is about to happen.

Do you have any insider information when will it be released? So now we will have Bitcoin Core, Classic and XT...

That scares me a little, even i dont undetstand enough bitcoin :/

https://bitcoinclassic.com/
* coming very very soon. take a deep breath.  get ready.  calm before the storm.  lets all make it a fast and furious one.... over before it starts.

Hmmm.... where to download the bitcoin classic node?

You think I am talking about Core vs Classic?   Only slightly.  Primarily I just want to discuss Fiat Coin vs Bitcoin seeing as how Fiat coin it seems now has a name (at least one of them does.)

But 1st the Core vs Classic skirmish, for indeed that is all it will be.... a nasty, brief skirmish where one side gets destroyed.  2 things seem clear....  

1) Classic will easily garner 75% and there will be a fork.
2) Core/Blockstream supporters seem deadset on causing as much confusion and destruction as possible.  There have been comments in support of DDOS attacks on Classic Nodes.  The lies are just growing bigger and bigger.  Those in the media willing to sell themselves as whores for some ad revenue are being used in an attempt to drum up outrage in those who don't know better.   But in the end Core passes away, and I for one Will Remember every bad actor, and will not forgive easily.  Most won't.  Blockstream and others should consider this in the days to come.  

End result here is generally going to be that Classic prevails.  At that point, once all the smoke clears, Bitcoin (the Classic Version) will be jumpstarted, and probably see a huge price increase, and development will grow wings, investment monies will again flow like wine etc.   Only thing unknown is how much confusion and damage there will be in the interimn.  If Core/Blockstream doesn't look to go quietly, traders will pull their coins a week or so before "activation" of Classic.  They won't want their trading priniciple to sit idly in the possibility of a protracted period of confusion (I say this because it will be dangerous to be moving coins around in the period that both fork chains are active - before one dies.... and if that looks like a long time - nobody wants their coins to be sitting idly and in jeopardy - and investment will flee to the safety of other coins)[/i].  Bitcoin price will see a dramatic price drop as trading money runs for the doors, and shorts heap on extra pressure (I predict a serious price bloodbath - IF Blockstream/Core supporters make it clear they are going to sabotage a clean fork).  Altcoins will be the immediate recipient of the gains.  One coin in particular.

BUT LETS TALK ABOUT THAT "ONE COIN"..... because it is clear that Ethereum has been chosen to be the primary Fiat Coin - at least for the Western World.   * Ripple may gain traction in Southeast Asia.  China will also do a coin.

WHAT IS GOING TO HAPPEN in the confusion of the short but disruptive fork, is that Ethereum is going to be releasing Homestead, and we'll see a huge jump in price, and in application buildout, and in users, and in nodes.   Its going to hit the Crypto world like a storm, and the Media will fixate on Ethereum positives, and point to the confusion in Bitcoin.  We'll know its temporary - but the masses of humanity will AGAIN see confusion/negativity/risk - while they are drumming up Ethereum Blockchain.  And it will soar!

And after the fork, and Core/Blockstream finally a good riddance memory, SOME of that money/investment will flow back into Bitcoin, but some will remain in Ethereum.   And then the real coin wars will begin......

BE FOREWARNED.... Bitcoin will soar in exaltation once the 75% supermajority is reached...... then crash into the abyss as the activation approaches.  For once I can't tell you how this one ends..... because there is going to be a surprise for you all in the midst of the chaos, and I honestly don't know how it will play out.

But for now, buckle up.... its Fork Time

* all hands on deck, lock and load your classic node!