Topic: [Guide] Surviving the fork, or How to double your bitcoins (or save fiat) - page 2. (Read 9927 times)

So this makes it even more likely that holdouts will keep the losing chain alive for more than 2 weeks.

The XT fork will not be a "stealth fork" (like the BIP66 caper).

Again: if and when the blockchain tags indicate that 75% of the miners are ready, there will be a 2 week period during which everyone running Core (or other incompatible software) will be warned of the event and urged to switch to XT (or any compatible software).  If and when that happen, you may be sure that all sensible exchanges and services will upgrade, together with the sensible miners among the other 25%.  Perhaps even Luke.  Perhaps even Mircea.

So, OK, there may be a few "rebel" exchanges left to cater for some thoroughly confused clients who did not upgrade, and the few "rebel" clients who refuse to consider bigger blocks and are willing to put up with 1 block every 2 hours...  But I still don't see any great opportunity there.

(After the 2 weeks period, there will still exist only one branch, and hence only one altcoin, until someone mines a block larger than 1 MB.  That may not take too long.  The average block size in early 2016 should still be 0.7 MB, but variable block spacings and empty blocks may create a backlog of more than 1 MB in the queue at some point.)

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a forced global upgrade across thousands of independent entities, in two weeks.

No problem. Logistically this is a trivial matter of coordination. After all how hard can it be to force everybody to adopt the new bitcoin, even though they dont agree with it?

But even you agree that there will be an altcoin created out of this and that altcoin will have nontrivial value, probably more than LTC, certainly more than NMC. But what are a few millions of dollars when we are talking about a forced upgrade onto all the people that dont see the light.

James

Was the last fork as dramatic and full of emotion as this one?  Did it involve this much at stake?  This much accusation and handwringing about selling out to the fiat players?  I mean seriously... comparing THIS fork to one in the past is like comparing getting mad at your wife because she was flirting to how you would feel if you caught your wife in bed with someone.  LOTS more emotion being generated in this fork it seems to me.  Am I wrong?  Did as big a part of the community DIRECTLY THREATEN to intentionally split the chain forever?  C'mon.  Apples to Oranges.

while not sure if this will work, the idea itself is great,

im sure there is some superb tech peopel who already have bots to do all this

instantly the moment of the fork?
across all vendors across the entire world?
what if they are sleeping?
[/quote]

The XT fork will not be a "stealth fork" (like the BIP66 caper).

Again: if and when the blockchain tags indicate that 75% of the miners are ready, there will be a 2 week period during which everyone running Core (or other incompatible software) will be warned of the event and urged to switch to XT (or any compatible software).  If and when that happen, you may be sure that all sensible exchanges and services will upgrade, together with the sensible miners among the other 25%.  Perhaps even Luke.  Perhaps even Mircea.

So, OK, there may be a few "rebel" exchanges left to cater for some thoroughly confused clients who did not upgrade, and the few "rebel" clients who refuse to consider bigger blocks and are willing to put up with 1 block every 2 hours...  But I still don't see any great opportunity there.

(After the 2 weeks period, there will still exist only one branch, and hence only one altcoin, until someone mines a block larger than 1 MB.  That may not take too long.  The average block size in early 2016 should still be 0.7 MB, but variable block spacings and empty blocks may create a backlog of more than 1 MB in the queue at some point.)

not long term, no
but maybe for 20 minutes from zeroblock?
or maybe a few hours
or days?

how many vendors are there that deal with bitcoin?
how many timezones?
what if it happens on a weekend?

and how long will the losing coin be worth more than LTC?
more than NMC?

remember there are a ton of altcoins that still have value long after they are dead

James

when the majority of bitcoin core devs all work for the same profit based company, well it is not surprising that making profits for that company trumps other things

In my experience it is impossible to coordinate the actions of much more than half a dozen people, especially when they are all over the world, even when they all want to do the same thing.

So how on earth with thousands or hundreds of thousands of people all do the same thing at the same exact moment, especially when a significant minority is disagreeing

I dont know the stats on the last bitcoin hardfork and how long it took for "everyone" to upgrade, but my guess is that it took a bit more than 10 minutes

James

I feel like everyone has gone full retard with this one. There will not be 2 different usable, spendable, mineable coins.

Oh for crying out loud..... this is a complete and utter Cluster F#