Topic: Has the hard fork happened? (Read 1283 times)
For now at the time this post was posted no hard forks has ever happened on bitcoin. I wouldn't say that there wouldn't be a hardfork in the future but I can say that the possible hardfork that will happen in the future will not be BU but im not 100% sure about this statement. It will not be because it is not that clear yet as of now whether it will win against core or not at all but there is a chance that of will be so I won't say that I'm 100% sure to what I have said.
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
If they manage to reach 51% they will surely get a lot of donations and offers from wealthy investors that will allow them to persuade the owners of some exchanges to list their coin.This is how it works in capitalism, money can open every door it's just the matter of digits. That said I think they won't reach even 51% with their falling support. No fork this time folks
Is there any platform or site, where we can really see the live stats of voting for BU so that we know where we are heading now ? Will it be only BTC or BTU will take over ?
The role of the users of bitcoin has been minimized on the discussion but at the end of the day we are the ones that decide, if there is a fork and everyone keeps using the original bitcoin then the forked coin will be doomed to failure, it will not matter that most miners backed up the fork, the average user at the end has the last word.
As long as the community stands behind core, BU will be nothing more than an empty fork (empty as in near zero community support). It will then be one of the hundreds of altcoins that there are -- nothing special. That's why it's important to keep supporting core, and thus prevent entities with their poisonous ideology from taking over Bitcoin as we know it. Sure, SegWit isn't a perfect solution, but it will for the coming 1-2 years be a more than capable solution. After that we'll need to evaluate the situation again, but that's not a direct concern.
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
This is quite sad, this only show who is the boss LOL. So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin. Funny isn't it? This made me think what are BU fighting for?
Ok as a btc hodler i read many topics about the fork
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it
for now look like BU is doomed to fail, the manority of the vote are undecided and are not in either segwit or BU, likely we will remain with current situation for a long time
you don't need to worry about this, at best BU will be an altcoin listed on exchange with a lower value than bitcoin, pretty much like eth and etc or zcash and zcash classic
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
If they manage to reach 51% they will surely get a lot of donations and offers from wealthy investors that will allow them to persuade the owners of some exchanges to list their coin.This is how it works in capitalism, money can open every door it's just the matter of digits. That said I think they won't reach even 51% with their falling support. No fork this time folks
no because that would kill bitcoin effectively, and destroy the business of those exchange, if bitcoin is at risk i'm sure the exchange won't fall for any corruption
miners aren't stupid they won't do any 51% either, they know it can lead to nothing but less profit for them, because the value would suffer from this action
:)In a word, no one can predict the future, although there is a big possibility will be split ends
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
If they manage to reach 51% they will surely get a lot of donations and offers from wealthy investors that will allow them to persuade the owners of some exchanges to list their coin.This is how it works in capitalism, money can open every door it's just the matter of digits. That said I think they won't reach even 51% with their falling support. No fork this time folks
Ok as a btc hodler i read many topics about the fork
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it
Best answer: No one knows for sure what will happen.
Ok as a btc hodler i read many topics about the fork
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it
No it hasn't happened and it is becoming quite clear that there will be no hard fork of bitcoin network in near future. We may see segwit (soft fork) getting activated by end of this year (November).
This would be good news for the price since there would be no hard fork. I was thinking if the miners are able to collect high transaction fees, what motivation do they have to increase the blocksize anyway? If I was a miner I wouldn't want the blocksize to increase at all, I would just sit back and collect high fees and make more.
If I was a miner I would definitely want the blocksize to increase, whether that's through SegWit or hard fork I would embrace anything. Bitcoin price would skyrocket and more users transacting means I will be able to earn even more in fees. You'd have to be pretty stupid to think that sitting at 1 MB forever is going to be better for your profits.
I was thinking if the miners are able to collect high transaction fees, what motivation do they have to increase the blocksize anyway? If I was a miner I wouldn't want the blocksize to increase at all, I would just sit back and collect high fees and make more.
Miners might be hypocrites here, but they are aware that this strategy of milking bitcoin users here and now is not going to work forever.If the situation continues people might rebel and either abandon bitcoin for altcoins stop using bitcoin for sending minor sum of money.
Ideal solution for miners would be making bitcoin better for everyone - it will lead to mass adoption->bigger userbase ->more transactions->more tx fees for miners.
No it hasn't happened and it is becoming quite clear that there will be no hard fork of bitcoin network in near future. We may see segwit (soft fork) getting activated by end of this year (November).
This would be good news for the price since there would be no hard fork. I was thinking if the miners are able to collect high transaction fees, what motivation do they have to increase the blocksize anyway? If I was a miner I wouldn't want the blocksize to increase at all, I would just sit back and collect high fees and make more.
No it hasn't happened and it is becoming quite clear that there will be no hard fork of bitcoin network in near future. We may see segwit (soft fork) getting activated by end of this year (November).
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
This is quite sad, this only show who is the boss LOL. So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin. Funny isn't it? This made me think what are BU fighting for?
Varys from GoT has a quite good story for situations like that:
“In a room sit three great men, a king, a priest, and a rich man with his gold. Between them stands a sellsword, a little man of common birth and no great mind. Each of the great ones bids him slay the other two. ‘Do it,’ says the king, ‘for I am your lawful ruler.’ ‘Do it,’ says the priest, ‘for I command you in the names of the gods.’ ‘Do it,’ says the rich man, ‘and all this gold shall be yours.’ So tell me – who lives and who dies?”
The answer is, It doesn't matter what side you are on. Miners, Exchanges, Consumers, Devs...
The strongest group with power will win. If the consumer base shows a strong resistance against Core Bitcoins and brings a high demand for BU coins, there is no way that exchanges will stay alive. Someone will fullfill that demand and those exchanges who show resistance will be history.
It might work though, if the consumerbase don't give a shit and just follow the strongest coin atm...
Sorry but Im kinda confused, and haven't really been paying much detailed attention to the technicalities of bitcoin. I know that a hard fork in the protocol can have negative effects on the price and that bitcoin has taken a hit lately from its high. Kind of thinking of selling some of my bitcoins and going into altcoins like ETH. Trying to get some advice on if this would be a good game plan until the technicalities get sorted out with the hard fork. thanks in advance!
Concern-trolling at an ATH!
Not yet and it doesn't look like we will see it anytime soon. Though, it seems like a lot of miners are moving to Bitcoin Unlimited and it is looking to overtake segwit and bitcoin due to a lot of big pools giving support to bitcoin unlimited. I do hope that bitcoin will still be the king but that for the consensus to decide.
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
This is quite sad, this only show who is the boss LOL. So it is not the miner, nor the developers but indeed the exchanges!
Nope. It's the economy.
Basically everything where people are involved in goes to waste one way or another. Greed and selfishness are what kept us in this position for so long. If this continues, and I have no reason to expect any different, then things can go real nasty in here.
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
This is quite sad, this only show who is the boss LOL. So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin. Funny isn't it? This made me think what are BU fighting for?
The exchanges will simply list both coins and the users will decide which to focus on and buy.
A bit like the Ether fork, where some miners decided to mine the classic version - and the exchanges made both available, so speculators and users could decide.
It's financial democracy, where people vote with their money.
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
This is quite sad, this only show who is the boss LOL. So it is not the miner, nor the developers but indeed the exchanges!
Nope. It's the economy.
Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.
This is quite sad, this only show who is the boss LOL. So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin. Funny isn't it? This made me think what are BU fighting for?
No this is exactly how it's supposed to work. A hard fork is supposed to be really hard and requires consensus across the board. Not just miners have to agree, but it needs the consensus of everyone in the ecosystem. And I am very happy this is the case, otherwise the network would be very vulnerable to attack by a group of people who just need to convince or strong-arm the miners. And mining is quite centralized right now so such an attack would not be too hard.
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