Topic: Finally, Bitcoin Core = REKT - page 5. (Read 7754 times)
anyway i dont think ever possible to a hard fork to happen in the next months.
the most possible scenario is the rest 25% to keep running the old bitcoin system and to change the mining system and ban asic miners. And i am very sure that for many months we will have two crap coins with no value at all and with 21 supply coins each other.
Why would the remaining miners agree to make their equipment invalid? Your right, changing the PoW algo would be BitcoinCore decission, not miners decission. So Instead of about 20% support it would be changed to only hardcore fans wanting to back old Bitcoin with GPUs. Then the 20% of ASIC miners eighter switch to new Bitcoin rules, start supporting other SHA2 coin or sell mining equipment.
And about "we will have two crap coins with no value at all and with 21 supply coins each other", I dont think there is much incentive for the 20% minority to continue with 1MB blocks after the 28 days grace period, but let see who is right (if there really become over 75% support for the 2MB modification)
not but they will continue to keep both of them. Is not problem at all for all of us to continue to have the same coins in both chains. This will confuse many and many will lost the trust in bitcoin system and that mean economical disaster for bitcoin ecosystem.
Is simple if a hard fork happen without consensus we will have.
1. Bank run from cloud wallets and exchanges
2. Collapse of bitcoin value
3. After that collapse of bitcoin mining
4 And at least to parallel bitcoin that all can trade for each other
It does not make sense to join that "team". Toomin won't even go with Bitcoin Core 0.12 (libsecp256k1 ), but rather 0.11.2 (i.e. it is possible that he is unable to apply the changes himself). Some might attack me for stating this, however I only said that it is a possibility. I can't find a good reason for which the changes should not be included in this release.
Latest stable version of Bitcoin Core is 0.11.2, thats why it is recommened to patch this version now if you support 2 MB.
Forget about "teams". Compile yourselves from source you wish to use and stop trusting authorites, this is only way to make Bitcoin decentralized. If you cant and need binaries, there is no need to stick with one team if you loose trust in the team, and you have to look for alternatives - this is what is happenig now.
i'd agree, and given the 750 mined blocks courtesy period extended to those who haven't upgraded I think it would be in the best interest of any stubborn minority to accept the consensus view
In other words, the remaining 25% won't join because they agree to the proposal, they will join because they have no other choice (in case that this does really happen). Where quitting completely is not a choice. the most possible scenario is the rest 25% to keep running the old bitcoin system and to change the mining system and ban asic miners. And i am very sure that for many months we will have two crap coins with no value at all and with 21 supply coins each other.
which basically would kill bitcoin, not completely, but it would kill it by the adoption pow, which is kinda the same
the only good thing will be plenty fo cheap coins...
Why don't you bloatblockers just fork off and enjoy your "Classic" crapcoin without any definite rules (anything is up to vote!) Oh, and don't forget that it doesn't even have any guarantee of 21M hard cap: https://www.reddit.com/r/Bitcoin/comments/4326ya/jonathan_toomim_on_bitcoin_classic_everything_can/
Enjoy this clown show! You well deserve it. Personally, I'll sell all the Classiccoins after the split while stupid people still think it's worth shit. And I'll reinvest it all in real bitcoins (no, the Classic clown show won't be able to monopolize mining - miners will switch back to Bitcoin as soon as they see how low Classiccoin sinks). And it seems that all the reasonable people will follow this simple strategy as well: http://bitcoinocracy.com/arguments/if-non-core-hard-fork-wins-major-holders-will-sell-btc-driving-price-into-the-ground
Enjoy this clown show! You well deserve it. Personally, I'll sell all the Classiccoins after the split while stupid people still think it's worth shit. And I'll reinvest it all in real bitcoins (no, the Classic clown show won't be able to monopolize mining - miners will switch back to Bitcoin as soon as they see how low Classiccoin sinks). And it seems that all the reasonable people will follow this simple strategy as well: http://bitcoinocracy.com/arguments/if-non-core-hard-fork-wins-major-holders-will-sell-btc-driving-price-into-the-ground
Your right, changing the PoW algo would be BitcoinCore decission, not miners decission. So Instead of about 20% support it would be changed to only hardcore fans wanting to back old Bitcoin with GPUs. Then the 20% of ASIC miners eighter switch to new Bitcoin rules, start supporting other SHA2 coin or sell mining equipment.
It depends though; I wouldn't say "hardcore fans" as there were a lot of people mining with a lot of GPU's before the ASICs got released.And about "we will have two crap coins with no value at all and with 21 supply coins each other", I dont think there is much incentive for the 20% minority to continue with 1MB blocks after the 28 days grace period, but let see who is right (if there really become over 75% support for the 2MB modification)
It does not make sense to join that "team". Toomin won't even go with Bitcoin Core 0.12 (libsecp256k1 ), but rather 0.11.2 (i.e. it is possible that he is unable to apply the changes himself). Some might attack me for stating this, however I only said that it is a possibility. I can't find a good reason for which the changes should not be included in this release. the most possible scenario is the rest 25% to keep running the old bitcoin system and to change the mining system and ban asic miners. And i am very sure that for many months we will have two crap coins with no value at all and with 21 supply coins each other.
Why would the remaining miners agree to make their equipment invalid? Your right, changing the PoW algo would be BitcoinCore decission, not miners decission. So Instead of about 20% support it would be changed to only hardcore fans wanting to back old Bitcoin with GPUs. Then the 20% of ASIC miners eighter switch to new Bitcoin rules, start supporting other SHA2 coin or sell mining equipment.
And about "we will have two crap coins with no value at all and with 21 supply coins each other", I dont think there is much incentive for the 20% minority to continue with 1MB blocks after the 28 days grace period, but let see who is right (if there really become over 75% support for the 2MB modification)
they will not but is the best defence if a fork like this will happen
That is debatable although it would make sense to upgrade the chain to SHA3 and reconfigure some other things. It would be quite unfortunate if the network split into two parts, this would be quite harmful for both sides. In other words, they're free to do what they want, just as they are now; free market. If you're suggesting that sticking by their guns would become an exercise in futility, that's just the way life works: You can't always get what you want.
I don't think that the right word is choice here. A choice would be agreeing to a proposal between two or more. This is more of a ultimatum, either you join or you quit. Mining on the old and slow chain is pointless though.the most possible scenario is the rest 25% to keep running the old bitcoin system and to change the mining system and ban asic miners. And i am very sure that for many months we will have two crap coins with no value at all and with 21 supply coins each other.
Why would the remaining miners agree to make their equipment invalid? they will not but is the best defence if a fork like this will happen
In other words, they're free to do what they want, just as they are now; free market. If you're suggesting that sticking by their guns would become an exercise in futility, that's just the way life works: You can't always get what you want.
I don't think that the right word is choice here. A choice would be agreeing to a proposal between two or more. This is more of a ultimatum, either you join or you quit. Mining on the old and slow chain is pointless though.https://en.wikipedia.org/wiki/Choice
Works for me.
In other words, they're free to do what they want, just as they are now; free market. If you're suggesting that sticking by their guns would become an exercise in futility, that's just the way life works: You can't always get what you want.
I don't think that the right word is choice here. A choice would be agreeing to a proposal between two or more. This is more of a ultimatum, either you join or you quit. Mining on the old and slow chain is pointless though.the most possible scenario is the rest 25% to keep running the old bitcoin system and to change the mining system and ban asic miners. And i am very sure that for many months we will have two crap coins with no value at all and with 21 supply coins each other.
Why would the remaining miners agree to make their equipment invalid? i'd agree, and given the 750 mined blocks courtesy period extended to those who haven't upgraded I think it would be in the best interest of any stubborn minority to accept the consensus view
In other words, the remaining 25% won't join because they agree to their proposal, they will most likely join because they have to (in case that this does really happen). 
In other words, they're free to do what they want, just as they are now; free market. If you're suggesting that sticking by their guns would become an exercise in futility, that's just the way life works: You can't always get what you want.
P.S. Since this sort of "buht maa, that's so unfair!" arguments popped up so often, humanity invented tort law (read: binding contracts, with courts to interpret them & jackbooted thugs to enforce the courts' decisions).
Because otherwise we get this.
i'd agree, and given the 750 mined blocks courtesy period extended to those who haven't upgraded I think it would be in the best interest of any stubborn minority to accept the consensus view
In other words, the remaining 25% won't join because they agree to the proposal, they will join because they have no other choice (in case that this does really happen). Where quitting completely is not a choice. the most possible scenario is the rest 25% to keep running the old bitcoin system and to change the mining system and ban asic miners. And i am very sure that for many months we will have two crap coins with no value at all and with 21 supply coins each other.
i'd agree, and given the 750 mined blocks courtesy period extended to those who haven't upgraded I think it would be in the best interest of any stubborn minority to accept the consensus view
In other words, the remaining 25% won't join because they agree to the proposal, they will join because they have no other choice (in case that this does really happen). Where quitting completely is not a choice. 
The most senior devs already left the sinking core ship. More will follow.
The question is really not how many will leave. Its how many will stay and fight, and how much damage will they do.What damage can <25% of hashrate do?
At this level my guess is that would just decrease the rhythm of diff increase for a few days or weeks, and later on everthing would go back to normal again.
i'd agree, and given the 750 mined blocks courtesy period extended to those who haven't upgraded I think it would be in the best interest of any stubborn minority to accept the consensus view
The most senior devs already left the sinking core ship. More will follow.
The question is really not how many will leave. Its how many will stay and fight, and how much damage will they do.What damage can <25% of hashrate do?
At this level my guess is that would just decrease the rhythm of diff increase for a few days or weeks, and later on everthing would go back to normal again.
The most senior devs already left the sinking core ship. More will follow.
The question is really not how many will leave. Its how many will stay and fight, and how much damage will they do.What damage can <25% of hashrate do?
The most senior devs already left the sinking core ship. More will follow.
The question is really not how many will leave. Its how many will stay and fight, and how much damage will they do.as long as bitcoin succeed does it matter? no, who care who is behind the scene this thing is decentralized or at least is supposed to be so
The most senior devs already left the sinking core ship. More will follow.
The question is really not how many will leave. Its how many will stay and fight, and how much damage will they do.as long as bitcoin succeed does it matter? no, who care who is behind the scene this thing is decentralized or at least is supposed to be so
The most senior devs already left the sinking core ship. More will follow.
The question is really not how many will leave. Its how many will stay and fight, and how much damage will they do. Jump to: