If you hold btc you get both btc and btu when it split?

boris singer

sr. member

Activity: 882

Merit: 268

Quote from: ebliever on March 31, 2017, 12:48:59 PM

Quote from: Rinder on March 31, 2017, 11:33:52 AM

Soo the split will really come or no, it get me insane to try to understand and be sure this will happen soo i can moove into some other altcoin while the storm over bitcoin doesnt end.

No one knows if the hardfork (split) will happen or not. BitcoinUnlimited leaders have talked about needing 75% of the hashrate before they will initiate a fork. It is difficult to imagine them reaching such a threshold in the near to mid term. Alternatively, I could imagine rogue miners attempting to activate the BU fork at something over 51%, but this would be much more chaotic and unlikely to succeed both technically and financially.

You can monitor the BU hashrate as well as segwit and other proposals at: https://coin.dance/blocks

It has been opined in the press that the price of bitcoin could decline about 50% in the leadup to an announced split, which my gut says is probably about right. There is also the issue of bitcoin being throttled so long as no improvements are made. This is why the altcoin market has doubled while bitcoin price has sagged, and many of us have more or less pulled out of BTC for the time being.

Because many of which have the same thoughts about it so bitcoin prices plummeted. But it makes sense if we tend to play in altcoin while waiting for the latest developments of bitcoin.

But deep in my mind, BU concept will actually appear as it will facilitate proposal for a real regulation in future. And of course, this possibility will make bitcoin price is getting down again until an unspecified time. BU will have a separate system from the original bitcoin, so the number of BTC that we have now will not be separated into two parts

ebliever

legendary

Activity: 1708

Merit: 1036

Quote from: Rinder on March 31, 2017, 11:33:52 AM

Soo the split will really come or no, it get me insane to try to understand and be sure this will happen soo i can moove into some other altcoin while the storm over bitcoin doesnt end.

No one knows if the hardfork (split) will happen or not. BitcoinUnlimited leaders have talked about needing 75% of the hashrate before they will initiate a fork. It is difficult to imagine them reaching such a threshold in the near to mid term. Alternatively, I could imagine rogue miners attempting to activate the BU fork at something over 51%, but this would be much more chaotic and unlikely to succeed both technically and financially.

You can monitor the BU hashrate as well as segwit and other proposals at: https://coin.dance/blocks

It has been opined in the press that the price of bitcoin could decline about 50% in the leadup to an announced split, which my gut says is probably about right. There is also the issue of bitcoin being throttled so long as no improvements are made. This is why the altcoin market has doubled while bitcoin price has sagged, and many of us have more or less pulled out of BTC for the time being.

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

Quote from: Wendigo on March 30, 2017, 05:10:46 AM

Theoretical question for the knowledgeable people here: so after a hard fork

You mean network split. Normally a HF is just an upgrade, not contentious.

Quote

we will get 1:1 coins in BTC and BTU

yes.

Quote

but the current value will split in half so we would have 50%:50% in BTC$.

Not necessarily. The total value could be less than, equal to, or greater than the previous market value...and the first
price quotes do not have to be 50/50. Probably they won't be.

Quote

What if a lot of people would want to sell their BTC or BTU coins so that they get their 100% in BTC$ pre-fork back? Would that mean an impending crash on either the BTC or BTU market or even both due to flooding with old coins and saturating the market and effectively decreasing the demand?

Yes it could. Likely will be extreme volatility.

Rinder

hero member

Activity: 868

Merit: 500

Soo the split will really come or no, it get me insane to try to understand and be sure this will happen soo i can moove into some other altcoin while the storm over bitcoin doesnt end.

Xester

hero member

Activity: 994

Merit: 544

Quote from: puremage111 on March 29, 2017, 10:19:17 PM

Hello, i've came across few article and i am still confuse about this.

Upcoming hard fork split btc into btc | btu.

1) So if you hold 5 btc in your wallet, at a right withdrawing steps, you will end up with 5 btc + 5 btu , is this correct?

2)If yes, meaning that the existing amount circulating of btc will be the existing amount circulating of btu?

3)If blockchain is split, which means user will support bitcoin core will remain in the same btc network and continue mine under it. This leaves btu network a weak mining hashpower compare to btc network. In this case, the blockchain difficulty for both network is lower down?

Thanks

I dont know if the split is going to happen or not but if in case that will happen we will no longer panic since UASF is there to protect the consumers from the conflicting group of miners. As long as UASF is implemented we will no longer be having problem such as split and having to consider BTU and BTC. The aim of UASF is to give the power to the bitcoin holders, exchanges and payer processor to determine the fate of bitcoin.

coynedterm

hero member

Activity: 882

Merit: 500

Quote from: noictib on March 30, 2017, 05:04:46 AM

Quote from: rajasumi3 on March 30, 2017, 04:30:33 AM

This is not going to happen and they will design in such a way that people dont get confused about it .and the support for it has decreased a lot.well btc will be on its own.

Yeah , this is really much excitement like thing because I have about 0.8btc in my wallet then what will happen with my bitcoin after fork Because I thinking and willing to get BTU as an extra money that I will gain through the bitcoin .
But here many of confusion like this are wondering in my mind .
And I think the thing that Will happen with bitcoin will be like the fork in ETH that goes Everything smoothly .

I think it may be possible that the new generated coin that is BTU will have until value near to half of the bitcoin and it may be possible that the habit of the people like me to use bitcoin more will result into the down the price of the BTU , I mean after the sudden get of BTU the people will start to sell and will try to convert BTU into BTC that will give the feature to the BTU like the normal altcoin .
Well here all types of predictions are only virtual thinking and anything may happen in the future , that is the quality of altcoins market .

Wendigo

legendary

Activity: 2604

Merit: 1036

Theoretical question for the knowledgeable people here: so after a hard fork we will get 1:1 coins in BTC and BTU but the current value will split in half so we would have 50%:50% in BTC$. What if a lot of people would want to sell their BTC or BTU coins so that they get their 100% in BTC$ pre-fork back? Would that mean an impending crash on either the BTC or BTU market or even both due to flooding with old coins and saturating the market and effectively decreasing the demand?

I don't deal with ethereum so I am not aware what has been happening with the ETH fork and its price markets.

noictib

hero member

Activity: 966

Merit: 515

One of the world's leading Bitcoin-powered casinos

Quote from: rajasumi3 on March 30, 2017, 04:30:33 AM

This is not going to happen and they will design in such a way that people dont get confused about it .and the support for it has decreased a lot.well btc will be on its own.

Yeah , this is really much excitement like thing because I have about 0.8btc in my wallet then what will happen with my bitcoin after fork Because I thinking and willing to get BTU as an extra money that I will gain through the bitcoin .
But here many of confusion like this are wondering in my mind .
And I think the thing that Will happen with bitcoin will be like the fork in ETH that goes Everything smoothly .

pedrog

legendary

Activity: 2786

Merit: 1031

Yes, you'll have the same number of BTCs and BTUs, but both combined will worth less than current valuation, check Metcalfe's law.

If a split happens that means BTU has more hashpower than BTC so the weaker chain will be BTC and BTU can attack BTC.

If a split happens the best bet will be dumping coins before it happens...

rajasumi3

full member

Activity: 266

Merit: 100

This is not going to happen and they will design in such a way that people dont get confused about it .and the support for it has decreased a lot.well btc will be on its own.

mylabs01

sr. member

Activity: 476

Merit: 251

Revolutionizing Brokerage of Personal Data

reading some of the comments here made me learned more about this hard fork and this bitcoin unlimited.. but i have read news from coindesk/cointelegraph that BU is no longer to push through.. i wonder how will it affect bitcoin's price now..

paul gatt

hero member

Activity: 896

Merit: 500

As far as I know, it is true, split bitcoin, and BTU will be donated to anyone who owns BTC, and BU = BTC number. However, you need to ensure that your BTC is in a safe place, and you are not allowed to place it in an online wallet, which is required to be stored in an offline wallet. That is a required condition. In addition, the cylinder head of the BTU can not compare with the BTC, because it is just an altcoin, and is a copy, it has no value and power like bitcoin, even, I find that it is destroying the price of BTC

Creepings

sr. member

Activity: 546

Merit: 257

Quote from: puremage111 on March 29, 2017, 10:19:17 PM

1) So if you hold 5 btc in your wallet, at a right withdrawing steps, you will end up with 5 btc + 5 btu , is this correct?

Yes, it will split into 5 BTU and 5 BTC, I don't know the mechanics when it comes to wallet or where to store the BTU but I think you still need a wallet.

Quote from: puremage111 on March 29, 2017, 10:19:17 PM

2)If yes, meaning that the existing amount circulating of btc will be the existing amount circulating of btu?

Yes, the amount of Bitcoin Core that is present will be the same as the Bitcoin Unlimited Tokens. There are 21 million Bitcoin Core, so there are also 21 million Bitcoin Unlimited Tokens.

Quote from: puremage111 on March 29, 2017, 10:19:17 PM

3)If blockchain is split, which means user will support bitcoin core will remain in the same btc network and continue mine under it. This leaves btu network a weak mining hashpower compare to btc network. In this case, the blockchain difficulty for both network is lower down?

As a Core Supporter, I will remain here, I really don't mind having a new altcoin, I will stick to Bitcoin Core. In case that no one supports BTU, it may eventually die and turn back to Bitcoin Core.

Hydrogen

legendary

Activity: 2562

Merit: 1441

A hard fork will double coins.

But it will also split the number of miners & nodes, which will make transactions slower.

Doubling coins could also half the price of btc, as the total number of coins increases from 20 million to 40 million, split between the two forks.

Retailers could also drop btc/crypto support if the price takes a big hit and if things get too complicated with multiple forks.

Viscount

sr. member

Activity: 243

Merit: 250

The moment hardfork splits I sell all Chinesse Rogercoin for BTC and forget about this shit forever

severaldetails

hero member

Activity: 959

Merit: 500

Theoretically it would be that way.
The btc you own at the point of splitting would turn out to be both, btc and btu.
When ETH had its fork, ETH and ETC turned out.
With bitcoin it would be similar.
But chances that it really comes to a fork with two chains outcome are turning smaller and smaller.

KennyR

hero member

Activity: 2310

Merit: 532

DGbet.fun - Crypto Sportsbook

Yes, we don't get into splitting of the chain. If splitting takes place then the value gets divided. Looking after the ongoing situation it won't takeplace in a short time. Now the support has decreased to higher extent. This might affect the BTU support percentage that was found high when BU entered.

mining1

hero member

Activity: 532

Merit: 500

Yes, but the value of both coins should be lower than the value of the project before split. Because people will mitigate the risk, sell and wait for things to calm down.
No, bitcoin adjustement period takes some time ( forgot how long exactly ) meaning that the blocks will take much longer time. That is a serious risk because miners will mine at a loss, or just turn off their miners which might cause a snowball effect.

puremage111

hero member

Activity: 1568

Merit: 511

Hello, i've came across few article and i am still confuse about this.

Upcoming hard fork split btc into btc | btu.

1) So if you hold 5 btc in your wallet, at a right withdrawing steps, you will end up with 5 btc + 5 btu , is this correct?

2)If yes, meaning that the existing amount circulating of btc will be the existing amount circulating of btu?

3)If blockchain is split, which means user will support bitcoin core will remain in the same btc network and continue mine under it. This leaves btu network a weak mining hashpower compare to btc network. In this case, the blockchain difficulty for both network is lower down?

Thanks

Topic: If you hold btc you get both btc and btu when it split? (Read 1065 times)