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Topic: Coindesk: If hardfork with BTU, major exchanges will list it as an Alt Coin - page 3. (Read 3771 times)

legendary
Activity: 3892
Merit: 4331
At least even though they recognise it, they will recognise it as what it is, an altcoin and nothing else. Someone seceding from the original chain can not be considered as the true Bitcoin. Hopefully we are far from this as Unlimited is not gathering all the support they would like to have.

From the evolutionary point of view, once two species diverge from the common ancestor, common ancestor disappears.
Therefore, both branches will be new, we have to acknowledge this.

I am looking forward to much more economical POW: I am sick and tired buying noisy, breakable, enormous heat producing machines from the chinese monopolists. i hope that something better will come along (GPUs?) or we switch to POS.
sr. member
Activity: 391
Merit: 250
At least even though they recognise it, they will recognise it as what it is, an altcoin and nothing else. Someone seceding from the original chain can not be considered as the true Bitcoin. Hopefully we are far from this as Unlimited is not gathering all the support they would like to have.
member
Activity: 101
Merit: 10
Nothing worth having comes easy
The way things are it is a really bad case of lose-lose.

Even if there is no split if BU nodes stay at 30+% or even get greater, that will leave massive uncertainty hanging over the network, due to potential problems like the crash-bug exploited a couple of days ago.

Can someone explain what happens with BU blocks that are mined now? Are they inserted into the BTC blockchain as normal?


Yes, basically because no-one is choosing to mine blocks bigger than 1MB... yet
sr. member
Activity: 462
Merit: 263
The devil is in the detail.
do you see what roger is doing
CIA-AGENT

Do you fucking know who finances Blockstream you stupid?

And who finances BTU?
legendary
Activity: 888
Merit: 1000
Monero - secure, private and untraceable currency.
do you see what roger is doing
CIA-AGENT

Do you fucking know who finances Blockstream you stupid?
sr. member
Activity: 1078
Merit: 255
Curve is more significant becuase Antpool started to signal BTU nodes. Once 1000 blocks have been found since they went BTU adpotition will stall unless other chinese pools follow.
There's plenty of other avenues left such as Bitmain selling machines to you only on condition that you mine BTU. Rather sad that one little fella has this much influence.
I wonder if it really did reach that point whether they'd have the balls to take the plunge or not. The more hysterical everything gets the more likely it is I suppose.
Is it even remotely possible for bitmain to ask the seller to mine only BTU,how can that be possible for a product in which they sell.Since they have a major opinion in the mining world and bitcoin as a whole they might have thought that majority will stick with them and make mining a monopoly and it is good to see that exchanges are joining hands to combat that threat.

They can't make sold miiners mine only BTU. Owner choose what to mine. If you point your miner to their pool, they choose which version to singnal. If you bough miner at Hashnest then acording to contract it's pointed toward Antpool.
sr. member
Activity: 546
Merit: 250
kittiefight.io Combat MMO Lending Jackpots
Curve is more significant becuase Antpool started to signal BTU nodes. Once 1000 blocks have been found since they went BTU adpotition will stall unless other chinese pools follow.
There's plenty of other avenues left such as Bitmain selling machines to you only on condition that you mine BTU. Rather sad that one little fella has this much influence.
I wonder if it really did reach that point whether they'd have the balls to take the plunge or not. The more hysterical everything gets the more likely it is I suppose.
Is it even remotely possible for bitmain to ask the seller to mine only BTU,how can that be possible for a product in which they sell.Since they have a major opinion in the mining world and bitcoin as a whole they might have thought that majority will stick with them and make mining a monopoly and it is good to see that exchanges are joining hands to combat that threat.
sr. member
Activity: 1078
Merit: 255
I can see a future where BU has a lot of transactions for coffee buying, where only one huge datacenter can host its blockchain...........but then...........it's not much different from the banks we have now, is it?

Thanks Mike Hearn but I didn't come to bitcoin for you to become my banker.

There are 100 and 1 alts for this and whom all would be better than this than BTC fork.
legendary
Activity: 1554
Merit: 1026
★Nitrogensports.eu★
I read a Mike Hearn's article (don't have a link now), and it said that once the fork has happened, the two chains would mingle with one another, they would fork and then become one and then fork again etc. Does anyone have any knowledge on that?


No, the 2 forks can't mingle with each other and then fork again.
What you could have is transactions on one chain inadvertently being replicated on the other chain as well. This was a problem in the ethereum fork as well.
sr. member
Activity: 462
Merit: 263
The devil is in the detail.
When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?
They claim 75% but they could fork off at 51% I believe.
Incorrect. You can fork off at any amount of hashrate, even 0%. BU has no activation mechanism, as soon as a miner creates a block > 1 MB, it will begin.

FYI: This is what happens when you go around both the developers, economic and user consensus. BTU is per definition an altcoin, more specific, a shitcoin that I don't want to be holding. The first exchange that picks it up is the one that I'm going to dump it on.

I believe they said they would not fork until 75% and at 51% they could prevent transactions of their choosing from gaining any confirmations, thus making them invalid, potentially preventing people from sending Bitcoins between addresses. They could also reverse transactions they send during the time they are in control (allowing double spend transactions), and they could potentially prevent other miners from finding any blocks for a short period of time. Thus causing a lot of mayhem.

Although technically they could fork at any time, they want to control Bitcoin or damage it if possible so the thresholds for these things are 75 and 51% to the best of my knowledge.
legendary
Activity: 854
Merit: 1000
I read a Mike Hearn's article (don't have a link now), and it said that once the fork has happened, the two chains would mingle with one another, they would fork and then become one and then fork again etc. Does anyone have any knowledge on that?
legendary
Activity: 854
Merit: 1000
I can see a future where BU has a lot of transactions for coffee buying, where only one huge datacenter can host its blockchain...........but then...........it's not much different from the banks we have now, is it?

Thanks Mike Hearn but I didn't come to bitcoin for you to become my banker.
legendary
Activity: 2674
Merit: 2965
Terminated.
When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?
They claim 75% but they could fork off at 51% I believe.
Incorrect. You can fork off at any amount of hashrate, even 0%. BU has no activation mechanism, as soon as a miner creates a block > 1 MB, it will begin.

FYI: This is what happens when you go around both the developers, economic and user consensus. BTU is per definition an altcoin, more specific, a shitcoin that I don't want to be holding. The first exchange that picks it up is the one that I'm going to dump it on.
sr. member
Activity: 462
Merit: 263
The devil is in the detail.
When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?

They claim 75% but they could fork off at 51% I believe.
full member
Activity: 372
Merit: 130
When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?
legendary
Activity: 854
Merit: 1000
Now that I am thinking of it, BTC will have half the hash power, but so will BU LOL!!!  Cheesy

We all will have a sssssssssssslow month!!!


I mean ROFL! Those BU people must be really stupid!

Fanatic devotion to a lost cause, Classic, XT and now BTU. One has to wonder if these supposed supporters of BTU really have any money on the line?

Oh well, some people only learn the hard way!
legendary
Activity: 854
Merit: 1000
The way things are it is a really bad case of lose-lose.

Even if there is no split if BU nodes stay at 30+% or even get greater, that will leave massive uncertainty hanging over the network, due to potential problems like the crash-bug exploited a couple of days ago.

Can someone explain what happens with BU blocks that are mined now? Are they inserted into the BTC blockchain as normal?


No, they are treated like orphans with no reward.

Thanks!

So, one chain lives on one client and the other chain only lives on the other client.
sr. member
Activity: 1313
Merit: 278
The way things are it is a really bad case of lose-lose.

Even if there is no split if BU nodes stay at 30+% or even get greater, that will leave massive uncertainty hanging over the network, due to potential problems like the crash-bug exploited a couple of days ago.

Can someone explain what happens with BU blocks that are mined now? Are they inserted into the BTC blockchain as normal?


No, they are treated like orphans with no reward.
sr. member
Activity: 462
Merit: 263
The devil is in the detail.
Now that I am thinking of it, BTC will have half the hash power, but so will BU LOL!!!  Cheesy

We all will have a sssssssssssslow month!!!


I mean ROFL! Those BU people must be really stupid!

Fanatic devotion to a lost cause, Classic, XT and now BTU. One has to wonder if these supposed supporters of BTU really have any money on the line?
legendary
Activity: 854
Merit: 1000
Now that I am thinking of it, BTC will have half the hash power, but so will BU LOL!!!  Cheesy

We all will have a sssssssssssslow month!!!


I mean ROFL! Those BU people must be really stupid!
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