If Core had to hard fork and use another mining algorithm, what would it be? - page 4.

achow101

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Quote from: HeRetiK on September 18, 2017, 09:00:02 AM

Quote from: achow101 on September 17, 2017, 06:38:24 PM

Segwit2x is a (improperly named) proposal to make an additional hard fork to a maximum of 8 million block weight (double that of segwit's 4 million block weight). It currently has very little user and business support and supposedly a majority of miner support. However it is not clear how much of the miner support actually supports segwit2x now and will support it in the future if the vast majority of users and businesses don't support segwit2x.

Isn't BitPay still planning on supporting Segwit2x over Bitcoin Core? If so I wouldn't call the business support "little", as BitPay is currently one of the most important gateways to mainstream merchants. Or have they changed their stance?

But that is only one business out of many businesses, even if they are large. Just because a few businesses, a few users, and a few miners support 2x does not mean that it has consensus and is going to happen.

HeRetiK

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Quote from: achow101 on September 17, 2017, 06:38:24 PM

Segwit2x is a (improperly named) proposal to make an additional hard fork to a maximum of 8 million block weight (double that of segwit's 4 million block weight). It currently has very little user and business support and supposedly a majority of miner support. However it is not clear how much of the miner support actually supports segwit2x now and will support it in the future if the vast majority of users and businesses don't support segwit2x.

Isn't BitPay still planning on supporting Segwit2x over Bitcoin Core? If so I wouldn't call the business support "little", as BitPay is currently one of the most important gateways to mainstream merchants. Or have they changed their stance?

Carlton Banks

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This could turn into a cat & mouse situation, and so there could be regular PoW hash algo changes to combat the latest calls of "hey, we're upgrading Bitcoin for you with a super special network hard fork! So, we'll write the new super special software, and everything will be fine, just like before.... but better!!!"

It doesn't really matter though, any fork will demonstrate the true intentions behind it once it's been enacted, sooner or later. Understanding the programming or the cryptography won't be necessary, the effect to end-users on their abilities to use (and their money's subsequent unit market value) will make it obvious whether the fork was intended to provide value to the users or those who chose to do the fork.

Wind_FURY

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Quote from: QuintLeo on September 17, 2017, 04:57:01 PM

Quote from: Wind_FURY on September 17, 2017, 08:05:58 AM

I read a comment on Reddit that if 90% of the miners will still follow Segwit2x on November then Core will have no choice but to fork off and upgrade to a new mining algorithm. I do not know if it has been discussed before, but what are the proposals made for the new kind of mining algorithm? Will it be something new or will it copy what is already out there?

FUD, and particularly stupid FUD at that.

Bitcoin is not going to switch algo, Segwit is a protocol that runs ON TOP OF the Bitcoin blockchain and does not affect Bitcoin mining AT ALL.

There may be a fork to impliment SegWit (I'm pretty sure they have to do that) but it's only going to affect the WALLETS not the underlying mining algorithm.

I posted IF 90% of the miners will still follow through with Segwit2x on November. I did not say it will happen for sure.

Quote from: Argon2 on September 17, 2017, 06:38:50 PM

If core gets 10% hash rate and SegWit2x gets 90% Core said they would "move onto other projects".

Core will move onto "other projects" only if a large majority of the users support Segwit2x, together with the miners. But if 90% of the miners will still push for Segwit2x, and the users still want the original chain, then it will make sense to change the Proof of Work algorithm, according to Greg Maxwell.

I tried searching for the Reddit post but it is hard to find.

Argon2

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Quote from: Wind_FURY on September 17, 2017, 08:05:58 AM

I read a comment on Reddit that if 90% of the miners will still follow Segwit2x on November then Core will have no choice but to fork off and upgrade to a new mining algorithm. I do not know if it has been discussed before, but what are the proposals made for the new kind of mining algorithm? Will it be something new or will it copy what is already out there?

If core gets 10% hash rate and SegWit2x gets 90% Core said they would "move onto other projects".

achow101

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Quote from: QuintLeo on September 17, 2017, 04:57:01 PM

FUD, and particularly stupid FUD at that.

Bitcoin is not going to switch algo, Segwit is a protocol that runs ON TOP OF the Bitcoin blockchain and does not affect Bitcoin mining AT ALL.

There may be a fork to impliment SegWit (I'm pretty sure they have to do that) but it's only going to affect the WALLETS not the underlying mining algorithm.

No, that is incorrect. Segwit requires a soft fork to activate, and in fact, has already activated. What you are thinking of is the Lightning Network or sidechains.

Segwit2x is a (improperly named) proposal to make an additional hard fork to a maximum of 8 million block weight (double that of segwit's 4 million block weight). It currently has very little user and business support and supposedly a majority of miner support. However it is not clear how much of the miner support actually supports segwit2x now and will support it in the future if the vast majority of users and businesses don't support segwit2x.

QuintLeo

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Quote from: Wind_FURY on September 17, 2017, 08:05:58 AM

I read a comment on Reddit that if 90% of the miners will still follow Segwit2x on November then Core will have no choice but to fork off and upgrade to a new mining algorithm. I do not know if it has been discussed before, but what are the proposals made for the new kind of mining algorithm? Will it be something new or will it copy what is already out there?

FUD, and particularly stupid FUD at that.

Bitcoin is not going to switch algo, Segwit is a protocol that runs ON TOP OF the Bitcoin blockchain and does not affect Bitcoin mining AT ALL.

There may be a fork to impliment SegWit (I'm pretty sure they have to do that) but it's only going to affect the WALLETS not the underlying mining algorithm.

Wind_FURY

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I read a comment on Reddit that if 90% of the miners will still follow Segwit2x on November then Core will have no choice but to fork off and upgrade to a new mining algorithm. I do not know if it has been discussed before, but what are the proposals made for the new kind of mining algorithm? Will it be something new or will it copy what is already out there?

Topic: If Core had to hard fork and use another mining algorithm, what would it be? - page 4. (Read 3467 times)