Hard fork could result in a priceless bitcoin?

pinkslink

member

Activity: 75

Merit: 10

do you mean
priceless
or
worthless
Huh

??

theres a big difference, all the talk about forks is just to delay BTC growth,
the common sheep does not understand the extent to what banks/govs will do,
how they operate, how far ahead they think, how much $ they can plough into something,
as $ is virtual anyway

if something has value to someone it has value,
if it has value to lots of people then its value is higher depending on the demand

arbitrage

hero member

Activity: 560

Merit: 500

Whole this talk brings more tension, many of us are already confused with
much info about fork and new wallet.
Don't see why leading developers can't find compromise about all this?

bitscointalker

newbie

Activity: 22

Merit: 0

Are there some deadlines for the fork?
Is it expected to be adopted before a certain time?
May it could be during the halving?

arbitrage

hero member

Activity: 560

Merit: 500

How all this didn't happen before?
I think we here have only speculation, nothing more.
We will have fork and everything will be fine.

calkob

hero member

Activity: 1106

Merit: 521

It is not like everyone is going to stop using bitcoin tomorrow if there is a problem, there has been many problems and we are all still here. We all have a reason to make this work. That incentive is the reason why i believe a solution will be found eventually for any problem bitcoin encounters.

One of the beauties of bitcoin is that it was designed around rewarding peoples own self interest and not based on people giving up their time voluntarily, if that was the case i would be far more worried.

xqus

full member

Activity: 172

Merit: 100

Quote from: Amph on February 09, 2016, 05:35:15 AM

Quote from: xqus on February 09, 2016, 05:15:27 AM

Quote from: shorena on February 09, 2016, 04:39:07 AM

You cant double bitcoin in a hard fork. You can have coins on both sides of a forked network though.

You should read this[1] post.

[1] https://bitcointalksearch.org/topic/m.13820896

Yes, and one of the coins will probably be worth nothing.
Also, it's not the miners that decide what coin will be the "official". That would be up to the users. The miners will mine the coin people uses.

that's not true, miners have a primarely importance in the consensus, their node are "worth more" than the other

but i can agree that mienrs are not the only factor for the consensus, they are not the "council"...

True. Official was a bad choice of word. But it will be up to the users to decide what coin will have any value. And by the user i mean merchants and customers.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

This is my concern. Will a consensus be reached before a hard fork is performed?

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: bitscointalker on February 09, 2016, 05:38:50 AM

At the end bitcoin price is intended to dump lower then.
Untill the fork time we are still in a experimental use of Bitcoin and that is why I believe people won't be affected by changes as they won't care about Bitcoin.
When the fork will take place?

I personally think there will be no hard fork, but a smooth soft fork into segwit without these issues.

bitscointalker

newbie

Activity: 22

Merit: 0

At the end bitcoin price is intended to dump lower then.
Untill the fork time we are still in a experimental use of Bitcoin and that is why I believe people won't be affected by changes as they won't care about Bitcoin.
When the fork will take place?

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: xqus on February 09, 2016, 05:15:27 AM

Quote from: shorena on February 09, 2016, 04:39:07 AM

You cant double bitcoin in a hard fork. You can have coins on both sides of a forked network though.

You should read this[1] post.

[1] https://bitcointalksearch.org/topic/m.13820896

Yes, and one of the coins will probably be worth nothing.
Also, it's not the miners that decide what coin will be the "official". That would be up to the users. The miners will mine the coin people uses.

that's not true, miners have a primarely importance in the consensus, their node are "worth more" than the other

but i can agree that mienrs are not the only factor for the consensus, they are not the "council"...

xqus

full member

Activity: 172

Merit: 100

Quote from: shorena on February 09, 2016, 04:39:07 AM

You cant double bitcoin in a hard fork. You can have coins on both sides of a forked network though.

You should read this[1] post.

[1] https://bitcointalksearch.org/topic/m.13820896

Yes, and one of the coins will probably be worth nothing.
Also, it's not the miners that decide what coin will be the "official". That would be up to the users. The miners will mine the coin people uses.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

You cant double bitcoin in a hard fork. You can have coins on both sides of a forked network though.

You should read this[1] post.

[1] https://bitcointalksearch.org/topic/m.13820896

bitscointalker

newbie

Activity: 22

Merit: 0

Hi dudes,
according to this discussion
https://www.reddit.com/r/Bitcoin/comments/44fs9h/anyone_else_planning_on_doubling_their_coin_on/
I was wondering whether the bitcoin price could dump with a hard fork, as the revised protocol with the larger block size is essentially incompatible with the older, more limited protocol. As soon as enough miners have switched to the new protocol, then that one becomes the ‘official’ protocol, as those miners will no longer recognize Bitcoin transactions using the old protocol.
But there might be a case where a particular amount of Bitcoin isn’t the same amount across the two incompatible transaction systems, because of tainting.
I'm not saying this is a license to print money but as an article of Forbes says "if too many people take advantage of this flaw, thus doubling their Bitcoin stake (or worse), then the value of all Bitcoin would promptly collapse – and given that there are about $5.7 billion of Bitcoin in circulation, such a collapse would be monumental".
What are your opinions regarding this?
is the future of Bitcoin currency (not the other crypto) in danger?

Topic: Hard fork could result in a priceless bitcoin? (Read 636 times)