"I think 'normal' people will not bother with this shit of two coins and just sell their BTC before the fork just to be safe. There is a risk of both coins becoming worthless and certainly there is no probability of one coin of them going much higher than before zero day. So i think it's reasonable to sell ones btc and just wait for the dust to settle if you don't want to take the risk of total loss for the benefit of 'maybe' making a profit by trading the correct coins for the wrong ones.
Alts are going to JUMP!
"
Topic: Gavins recent annoucement. DO NOT panic (Read 1320 times)
I'll just start posting the truth on all of these FUD threads.
Here is Gavin's question on a discussion board:
Here is Gavin's question on a discussion board:
Quote
What do other people think?
If we can't come to an agreement soon, then I'll ask for help
reviewing/submitting patches to Mike's Bitcoin-Xt project that implement a
big increase now that grows over time so we may never have to go through
all this rancor and debate again.
I'll then ask for help lobbying the merchant services and exchanges and
hosted wallet companies and other bitcoind-using-infrastructure companies
(and anybody who agrees with me that we need bigger blocks sooner rather
than later) to run Bitcoin-Xt instead of Bitcoin Core, and state that they
are running it. We'll be able to see uptake on the network by monitoring
client versions.
Perhaps by the time that happens there will be consensus bigger blocks are
needed sooner rather than later; if so, great! The early deployment will
just serve as early testing, and all of the software already deployed will
ready for bigger blocks.
But if there is still no consensus among developers but the "bigger blocks
now" movement is successful, I'll ask for help getting big miners to do the
same, and use the soft-fork block version voting mechanism to (hopefully)
get a majority and then a super-majority willing to produce bigger blocks.
The purpose of that process is to prove to any doubters that they'd better
start supporting bigger blocks or they'll be left behind, and to give them
a chance to upgrade before that happens.
Because if we can't come to consensus here, the ultimate authority for
determining consensus is what code the majority of merchants and exchanges
and miners are running.
--
--
Gavin Andresen
If we can't come to an agreement soon, then I'll ask for help
reviewing/submitting patches to Mike's Bitcoin-Xt project that implement a
big increase now that grows over time so we may never have to go through
all this rancor and debate again.
I'll then ask for help lobbying the merchant services and exchanges and
hosted wallet companies and other bitcoind-using-infrastructure companies
(and anybody who agrees with me that we need bigger blocks sooner rather
than later) to run Bitcoin-Xt instead of Bitcoin Core, and state that they
are running it. We'll be able to see uptake on the network by monitoring
client versions.
Perhaps by the time that happens there will be consensus bigger blocks are
needed sooner rather than later; if so, great! The early deployment will
just serve as early testing, and all of the software already deployed will
ready for bigger blocks.
But if there is still no consensus among developers but the "bigger blocks
now" movement is successful, I'll ask for help getting big miners to do the
same, and use the soft-fork block version voting mechanism to (hopefully)
get a majority and then a super-majority willing to produce bigger blocks.
The purpose of that process is to prove to any doubters that they'd better
start supporting bigger blocks or they'll be left behind, and to give them
a chance to upgrade before that happens.
Because if we can't come to consensus here, the ultimate authority for
determining consensus is what code the majority of merchants and exchanges
and miners are running.
--
--
Gavin Andresen
I am thinking about choosing a chain thing. If I do not move my coins after the fork, my coins will be valid on both chains. I don't need to "choose a side" until I want to spend/send them, right?
Here more info (read all the quote in that post) : https://bitcointalksearch.org/topic/m.11491509
I am thinking about choosing a chain thing. If I do not move my coins after the fork, my coins will be valid on both chains. I don't need to "choose a side" until I want to spend/send them, right?
I'm not too sure what exactly is happening but by the sounds of it this could have more negative impacts for Bitcoin than positive ones. I really wonder what will happen with the price as people/newcomers will be split for choice. I guess all we can do is speculate.
bitcoin is most stable crypto currency and that kind FUD has no value because it has more big community than any other coin.
In my country we have a saying: "With money the dog dances"If this fork affects the wallets of those 'big community than any other coin', they will flee to Alts, as simple as that..
This would be horrible for BTC, I hope it doesnt happen. Seriously wtf. Maybe I will get into some litecoin just in case.
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Oh thanks, finally I have understand all the question. If Gavin will fork and upload the new client we will basically still have or better own the same bitcoin in the two chains, so if I will be lucky we can sell the coins to someone -not an exchange- and buy more btc (and especially hope to be in the right chain).
Thanks again for the reply.
Correct, for a brief period of time, before it's clear which one is the winning chain, one can sell the same coins twice.
Bear in mind this may not be very ethical.
You will only be able to sell the same coins twice if Gavin coin makes it onto an exchange. If I was running an exchange I'd refuse to have anything to do with his coin until I was certain the majority of other exchanges were using it.
You'll be able to send the coins to whoever is on that chain, it can be an exchange, a merchant, someone betting on that particular chain and paying more or less for those coins depending on how many people are making the transition...
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Oh thanks, finally I have understand all the question. If Gavin will fork and upload the new client we will basically still have or better own the same bitcoin in the two chains, so if I will be lucky we can sell the coins to someone -not an exchange- and buy more btc (and especially hope to be in the right chain).
Thanks again for the reply.
Correct, for a brief period of time, before it's clear which one is the winning chain, one can sell the same coins twice.
Bear in mind this may not be very ethical.
To sell the same coin twice one needs a bitcoin client for both chains right? In both clients one will have the same amount of bitcoin or how should i see this?
Basically (If I have understood) it is a double spend, you should have the two client and spend the btc from the chain-A and the chain-B ... you will have the same amount of btc in the same address but in two different chains.
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Oh thanks, finally I have understand all the question. If Gavin will fork and upload the new client we will basically still have or better own the same bitcoin in the two chains, so if I will be lucky we can sell the coins to someone -not an exchange- and buy more btc (and especially hope to be in the right chain).
Thanks again for the reply.
Correct, for a brief period of time, before it's clear which one is the winning chain, one can sell the same coins twice.
Bear in mind this may not be very ethical.
To sell the same coin twice one needs a bitcoin client for both chains right? In both clients one will have the same amount of bitcoin or how should i see this?
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Oh thanks, finally I have understand all the question. If Gavin will fork and upload the new client we will basically still have or better own the same bitcoin in the two chains, so if I will be lucky we can sell the coins to someone -not an exchange- and buy more btc (and especially hope to be in the right chain).
Thanks again for the reply.
Correct, for a brief period of time, before it's clear which one is the winning chain, one can sell the same coins twice.
Bear in mind this may not be very ethical.
You will only be able to sell the same coins twice if Gavin coin makes it onto an exchange. If I was running an exchange I'd refuse to have anything to do with his coin until I was certain the majority of other exchanges were using it.
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Oh thanks, finally I have understand all the question. If Gavin will fork and upload the new client we will basically still have or better own the same bitcoin in the two chains, so if I will be lucky we can sell the coins to someone -not an exchange- and buy more btc (and especially hope to be in the right chain).
Thanks again for the reply.
Correct, for a brief period of time, before it's clear which one is the winning chain, one can sell the same coins twice.
Bear in mind this may not be very ethical.
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Then in the meantime you'll be able to double spend, like happened in 2013, when two blockchains were active?
https://bitcointalksearch.org/topic/a-successful-double-spend-us10000-against-okpay-this-morning-152348
I see lots of confusion if Galvin really does what he is saying.
But might be just a bluff, too.
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Oh thanks, finally I have understand all the question. If Gavin will fork and upload the new client we will basically still have or better own the same bitcoin in the two chains, so if I will be lucky we can sell the coins to someone -not an exchange- and buy more btc (and especially hope to be in the right chain).
Thanks again for the reply.
This is what free open-source software is about, you choose what code to run, this kind of stuff was predicted from the beginning and it's one of the properties why bitcoin is so resilient and some particular government cannot push its own code.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
You cannot move coins between the two chains but you'll have twice the coins, at least for the period of time the two chains are live, eventually one will die, I assume.
Either way it's not good for bitcoin, meaning if hard fork happens there will be 2 bitcoins and different prices with a high chance the price of bitcoin to go down and if gavin leaves to bitcoin xt its also not a good news for bitcoin, actually i just sold some of my btc and some i'm holding just in case.
Its not FUD, Gavins creating a new side to join. If you dont want to be on either side, sell and move on
Yes of course we are not obliged to use the new client, I am only curious if I can move coin between the '2' chain but I do not think it will be possible.
I see a lot of people are now doubting Bitcoin even though nothing has changed the threads which are discussing what gavin has said are mostly fud they are trying to stir a shit storm before anything has even happended. Do not sell your coins just yet people its an attempt to drive prices down even further.
It's not FUD when people are quoting Gavin's own words.
I think the OP is talking about this thread: https://bitcointalksearch.org/topic/gavin-threatens-to-quit-bitcoin-development-and-join-hearns-fork-1074701 (oh it is your thread
).bitcoin is most stable crypto currency and that kind FUD has no value because it has more big community than any other coin.
The big community without miner (big farm) will not be sufficient
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