Announcing MyEtherWallet v3.24.00: Difficulty Bomb&Updating blockchain
Due to the complexity of the Bomb and the increased risk of hacking, we pushed a rather drastic update that implements a number of changes and improvements, including enhancement of efficiency and scalability of the blockchain, acceleration of transaction speed, and additional security in the form new formats private keys which will help protect users against hacking.
If you are using private key or UTC, then you need to go into the wallet and update manually, otherwise they risk being unprotected.
How do i update my Ethereum wallet?
1. Go to our website /]MyEtherWallet.com
2. Unlock your wallet using your Keystore File (UTC / JSON) or simply use your private key.
3. Click Unlock and wait for the update.
Please note that you need to manually update your wallet, failure to do so may result in funds being lost.
We are taking these measures to protect both you and our network from phishing and malicious attacks.
Thank you for your cooperation and understanding!
MyEtherWallet Security Team.
If you use other methods, then ignore this message.
Topic: Fork Bitcoin with a new Core that has no miner's fees. (Read 232 times)
I think we can do it again, as torrents work. there is no monetary reward, only rating. from the fact that thousands of people distribute their files for free, has not led to the death of torrent trackers. I think if everyone can connect to this mining, even with the most low-power computers, it will be the most decentralized coin ever created
bitcoin can not stand without fees which are the second reason why miners work cpu (the first reason is the mining itself of bitcoins). If there are no more coins to be undermined, only the fees will be the incentive. They can't be there.
How about forking Core
you meant to say fork "bitcoin" right?!there are many altcoins out there called a lot of names that include bitcoin such as bitcoin core, bitcoin cash, bitcoin dark, bitcoin gold,... what OP is talking about is bitcoin. it doesn't have any trailing words.
as for BCash fee, it doesn't have near zero fees it has the exact same fee and fee mechanism as bitcoin meaning minimum fee is 1 satoshi/byte and when blocks are full it grows as it grew a couple of months ago when someone spam attacked Bcash for 2 days for fun
How about forking Core
you meant to say fork "bitcoin" right?!
People have already said that it's impossible for the most part, but even if we assume that it is, I don't think it will be very attractive. Plenty of coins that can do essentially the same things as Bitcoin but with lower fees have been in the market for a while now, but that obviously isn't enough to get them to switch. Fees are also dirt cheap under normal conditions (which improvements are trying to maintain indefinitely) that paying them is essentially negligible, and that you may as well have a way to help your transactions confirm faster.
Bottom line is that Bitcoin is popular for the sum of its parts, not just individual parts.
Bottom line is that Bitcoin is popular for the sum of its parts, not just individual parts.
Bitcoin cores are focusing more on miner's fee since its their right. I haven't heard of forks where they ignore miners' fees but it is very unlikely to get introduced,
We have LN making sure we don't have to deal with rogue miners, and with global deployment people will not have much incentive to cash out to the mainchain anymore.
Bitcoin's mainchain is to transfer digital Gold, which people gladly pay any fee for, where the second layer will make sure people can utilize Bitcoin's money aspect.
On top of that, miners are pretty much shooting themselves in the foot with their big block nonsense, because the smaller the blocks are, the higher their fee income will be, which throughout the years will be their main source of income. Killing off higher fee income with larger blocks means killing off potential income.
Try send zero (0) fee transactions through BCash, the miners will ignore your transaction all day long, especially if it is only $1-$2 worth. Enough block space but no will to pick up transactions that could have been from people paying for a cup of coffee somewhere.
Bitcoin's mainchain is to transfer digital Gold, which people gladly pay any fee for, where the second layer will make sure people can utilize Bitcoin's money aspect.
On top of that, miners are pretty much shooting themselves in the foot with their big block nonsense, because the smaller the blocks are, the higher their fee income will be, which throughout the years will be their main source of income. Killing off higher fee income with larger blocks means killing off potential income.
Try send zero (0) fee transactions through BCash, the miners will ignore your transaction all day long, especially if it is only $1-$2 worth. Enough block space but no will to pick up transactions that could have been from people paying for a cup of coffee somewhere.
It would be too difficult to move away from Core. A forked coin will never compete with bitcoin. The OG bitcoin has too large of a dominance and adoption rate. People would be hesitant to trust a new coin when they can trust a coin that's been around for 10 years.
How about forking Core
you meant to say fork "bitcoin" right?!... once that's over, ...
it won't be over for many years!This is the best answer yet. You don't need to fork Bitcoin, you can already start mining or relaying transactions with no fee. But without a proper incentives structure, nobody would be doing it, because it takes resources to mine and to relay transactions and you want to be rewarded for your effort.
This is one of the main explanations why socialism doesn't work. In theory, if everyone would work for the benefit of others and would only consume what they need, you would be able to have a socialist utopia. But we are humans and incentives matter. And if you build a system with the wrong incentives, it will crumble.
This is why bitcoin is such a great thing. It allows complete strangers to work together for a common goal, because their incentives are aligned and the punishment for non-compliance is swift.
Forking a chain is not a good things to do because it leads to panic to new holder that do not know what they are doing or they can actually do.
So in the case you wnat to start your own coin, feel free, it's not so difficult right now, there are a plenty of great developers out there, but do it with your own community, and not try to gain extra visibility forking another because it just let others dump
So in the case you wnat to start your own coin, feel free, it's not so difficult right now, there are a plenty of great developers out there, but do it with your own community, and not try to gain extra visibility forking another because it just let others dump
Bitcoin gets forked all the time and people don't even know about it, it's not a big deal at all imo.
There are bitcoin cash and bitcoin gold if we are talking about forks but haven't heard of forks where you don't have to pay the miners, rather they are trying to come up with cores that will help the miners more, like SegWit.
in my personal opinion, miners fee is one of the important things in blockchain, because without miners no one can mine a single hash to create an transaction. this is like a maintenance fee, without maintenance, the savings of the project had to use to cover up the fee in all transactions, and this one of the reasons why new projects falls.
As BrewMaster already pointed out, the fee you pay with your transaction is not defined in the consensus rules.
It is a voluntary fee to priorize your transactions over others.
A simple PoW chain without any fees won't work. Fees are used inside the ecosystem to counteract spam attacks.
You would need a different approach to get your network secured against spam attacks. Simply removing fees won't lead to a healthy network.
As long as you don't have any other viable solution against spam attacks (and other frequent attack vectors), your idea will fail.
It is a voluntary fee to priorize your transactions over others.
A simple PoW chain without any fees won't work. Fees are used inside the ecosystem to counteract spam attacks.
You would need a different approach to get your network secured against spam attacks. Simply removing fees won't lead to a healthy network.
As long as you don't have any other viable solution against spam attacks (and other frequent attack vectors), your idea will fail.
Fork Bitcoin is coming new and without the miner fee it looks really good to me. But they have not seen much about how they are doing. If anyone knows, then share it. I would like to know more about Fortk Bitcoin Miner's Fee.
Bitcoin's median transaction fee lowest since 2011. I haven't really heard much on the idea, but hoping to see if it will work or not.
Forking a chain is not a good things to do because it leads to panic to new holder that do not know what they are doing or they can actually do.
So in the case you wnat to start your own coin, feel free, it's not so difficult right now, there are a plenty of great developers out there, but do it with your own community, and not try to gain extra visibility forking another because it just let others dump
So in the case you wnat to start your own coin, feel free, it's not so difficult right now, there are a plenty of great developers out there, but do it with your own community, and not try to gain extra visibility forking another because it just let others dump
As far as I know it has not been done yet. And I think since some people get paid for mining it, it's their job and they'd lose it if that happens. That way a source of earning for a number of people would be eliminated which would gradually affect the community.
FORK or Garstro Advisor came first in my eyes today seeing your post. But after studying it is a social platform supporting reaurants and dinning etc. It has a low hype. It has not started yet it will start from sept 03 2018 to October 31 2018. I will suggest you research before you invest in this project.
How about forking Core
you meant to say fork "bitcoin" right?!... once that's over, ...
it won't be over for many years! Jump to: