Topic: My opinion concerning bitcoin forking (Read 1215 times)
Many developers prefer bitcoin clients must be backward compatible too. But these suggested fork will erase the backward compatibility. So, if backward compatibility has more significance means we must innovate new technology quicker transactions.
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
I'm against XT. they want to make money on Bitcoin name
How does that work? In theory can't we have like 1 bitcoin with a thousand forks so bitcoin becomes multifunctional but all forks remain a form of bitcoin that has the same price and can be interchanged?
No, if the exchange updates on XT , You will not be able to sell their Bitcoins from the old network
That is not correct. When the fork happens and you have bitcoins then you have bitcoins in the old blockchain and in the new one. You will always have the coins that will win. So no chance to lose anything by the fork.
No need to worry.
If there is a fork:
Don't get so emotional about this.
Most likely scenario: much blather and to-do about nothing, which has been and is the standard operational procedure of the Bitcoin community for as long as I can remember.
Don't get so emotional about this.
Most likely scenario: much blather and to-do about nothing, which has been and is the standard operational procedure of the Bitcoin community for as long as I can remember.
+1
The danger is not the fork, but splitting of the blockchain in 2.
The way BIP101 works, the risk of a split is next to impossible.
the last word should be for the community
Ecosystem basically equals the community. (or at least I interpret it as the same or encompassing it)
and the community against the fork XT
Speak for yourself. /r/bitcoin overwhelmingly supported it before the censorship and FUD began.
I think most people here oppose XT because of the disinformation and lies spread by trolls and sockpuppets.
Check out /r/Bitcoin_uncensored and /r/BitcoinXT for uncensored discussion.
Personally, I would be happy to run Core too if they implement the blocksize limit increase.
If there is a fork:
You will want to own pre-fork coins so that you can own coins on both sides of the fork.
Waiting to buy coins till after the fork is not in your best interest.
People will (eventually) realize this.
People wanting pre-fork coins should cause buying pressure (eventually).
So keep your current coins and/or buy on these large uncertainty dips.
People in the know will want pre-fork coins so there may be a big rush to buy if it looks like a fork is actually going to happen.
Don't get so emotional about this.
Most likely scenario: much blather and to-do about nothing, which has been and is the standard operational procedure of the Bitcoin community for as long as I can remember.
You will want to own pre-fork coins so that you can own coins on both sides of the fork.
Waiting to buy coins till after the fork is not in your best interest.
People will (eventually) realize this.
People wanting pre-fork coins should cause buying pressure (eventually).
So keep your current coins and/or buy on these large uncertainty dips.
People in the know will want pre-fork coins so there may be a big rush to buy if it looks like a fork is actually going to happen.
Don't get so emotional about this.
Most likely scenario: much blather and to-do about nothing, which has been and is the standard operational procedure of the Bitcoin community for as long as I can remember.
the last word should be for the community
Ecosystem basically equals the community. (or at least I interpret it as the same or encompassing it)
and the community against the fork XT
the last word should be for the community
Ecosystem basically equals the community. (or at least I interpret it as the same or encompassing it)
Bitcoin IS not going to split in 2. Miners have an incentive to agree so if XT hits the 75% threshold and forks the remaining miners will have to go along with it.
That's not the point. It's causing a lot of confusion, ambiguity, stress, panic, chaos, it's BAD for Bitcoin in general. And you say it's not going to split. If the majority of miners switches to XT (not gonna happen, but suppose they do) and exchanges don't (or even just one large exchange doesn't), or vice versa, you still so sure there's no split?
Bitcoin by itself is already hard enough to explain to the general public. This XT bullshit is setting back growth and mainstream adoption even further.
And don't get me wrong - the problem are not the changes that XT brings, per se (8MB is absolutely unnecessary for the forseeable future, but it's not disastrous) but rather the fact that it comes as a separate version, with different rules.
Totally agree with you, hands off this Bitcoin
Bitcoin is not XT or Core.
Bitcoin is the set of rules what the participants of the network follow and abide.
The set of rules can be implemented by anyone and can be called anything. XT, Core, d, etc.
It's the same network, the same peers and same hashpower united under the same blockchain.
XT only offers a choice. It depends on the ecosystem to accept or not.
the last word should be for the community
Bitcoin IS not going to split in 2. Miners have an incentive to agree so if XT hits the 75% threshold and forks the remaining miners will have to go along with it.
That's not the point. It's causing a lot of confusion, ambiguity, stress, panic, chaos, it's BAD for Bitcoin in general. And you say it's not going to split. If the majority of miners switches to XT (not gonna happen, but suppose they do) and exchanges don't (or even just one large exchange doesn't), or vice versa, you still so sure there's no split?
Bitcoin by itself is already hard enough to explain to the general public. This XT bullshit is setting back growth and mainstream adoption even further.
And don't get me wrong - the problem are not the changes that XT brings, per se (8MB is absolutely unnecessary for the forseeable future, but it's not disastrous) but rather the fact that it comes as a separate version, with different rules.
Totally agree with you, hands off this Bitcoin
Bitcoin is not XT or Core.
Bitcoin is the set of rules what the participants of the network follow and abide.
The set of rules can be implemented by anyone and can be called anything. XT, Core, d, etc.
It's the same network, the same peers and same hashpower united under the same blockchain.
XT only offers a choice. It depends on the ecosystem to accept or not.
Personally, when I got into bitcoin I subscribed to independence, transparency and freedom. Not tyranny, censorship and serving a company (Blockstream).
Bitcoin IS not going to split in 2. Miners have an incentive to agree so if XT hits the 75% threshold and forks the remaining miners will have to go along with it.
That's not the point. It's causing a lot of confusion, ambiguity, stress, panic, chaos, it's BAD for Bitcoin in general. And you say it's not going to split. If the majority of miners switches to XT (not gonna happen, but suppose they do) and exchanges don't (or even just one large exchange doesn't), or vice versa, you still so sure there's no split?
Bitcoin by itself is already hard enough to explain to the general public. This XT bullshit is setting back growth and mainstream adoption even further.
And don't get me wrong - the problem are not the changes that XT brings, per se (8MB is absolutely unnecessary for the forseeable future, but it's not disastrous) but rather the fact that it comes as a separate version, with different rules.
Totally agree with you, hands off this Bitcoin
For the love of all that is holy, can we please stop with the fud? The Bitcoin protocol has changed several times so far, and all your old coins still work. Alternate versions of the chain occur - they're built into the spec. The popular chain continues and the unpopular chain withers. Coins created before the branch are unaffected.
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
This.Can we please stop this childish split, get together and come up with a synthesis?
Core devs, for fuck's sake, try and find a reasonable consensus and stick with ONE Bitcoin.
This +1.
I support this totally. Stick together, stop arguing and find consensus. The actual situation is pure poison for all of us.
Bitcoin IS not going to split in 2. Miners have an incentive to agree so if XT hits the 75% threshold and forks the remaining miners will have to go along with it.
That's not the point. It's causing a lot of confusion, ambiguity, stress, panic, chaos, it's BAD for Bitcoin in general. And you say it's not going to split. If the majority of miners switches to XT (not gonna happen, but suppose they do) and exchanges don't (or even just one large exchange doesn't), or vice versa, you still so sure there's no split?
Bitcoin by itself is already hard enough to explain to the general public. This XT bullshit is setting back growth and mainstream adoption even further.
And don't get me wrong - the problem are not the changes that XT brings, per se (8MB is absolutely unnecessary for the forseeable future, but it's not disastrous) but rather the fact that it comes as a separate version, with different rules.
Having a single group clinging to power, trying to sabotage freedom of choice with lies, censorship and propaganda will have a more severe outcome than the departure of some weak hands.
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
I'm against XT. they want to make money on Bitcoin name
How does that work? In theory can't we have like 1 bitcoin with a thousand forks so bitcoin becomes multifunctional but all forks remain a form of bitcoin that has the same price and can be interchanged?
No, if the exchange updates on XT , You will not be able to sell their Bitcoins from the old network
So how do I convert my old bitcoins to XT and prevent them from becoming worthless?
Yes, that is the main reason for Panic selling in Bitcoin Exchanges. Investors are not even wait to see what happened in January (the fork of XT is on January 11, 2016).
The fork happens only if super majority of the network votes for XT or any other implementation which introduces the blocksize increase (including Core).
Bitcoin cannot evolve without forks.
But this does not update Bitcoin, it's a new fork
Bitcoin IS not going to split in 2. Miners have an incentive to agree so if XT hits the 75% threshold and forks the remaining miners will have to go along with it.
That's not the point. It's causing a lot of confusion, ambiguity, stress, panic, chaos, it's BAD for Bitcoin in general. And you say it's not going to split. If the majority of miners switches to XT (not gonna happen, but suppose they do) and exchanges don't (or even just one large exchange doesn't), or vice versa, you still so sure there's no split?
Bitcoin by itself is already hard enough to explain to the general public. This XT bullshit is setting back growth and mainstream adoption even further.
And don't get me wrong - the problem are not the changes that XT brings, per se (8MB is absolutely unnecessary for the forseeable future, but it's not disastrous) but rather the fact that it comes as a separate version, with different rules.
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
I'm against XT. they want to make money on Bitcoin name
How does that work? In theory can't we have like 1 bitcoin with a thousand forks so bitcoin becomes multifunctional but all forks remain a form of bitcoin that has the same price and can be interchanged?
No, if the exchange updates on XT , You will not be able to sell their Bitcoins from the old network
So how do I convert my old bitcoins to XT and prevent them from becoming worthless?
Yes, that is the main reason for Panic selling in Bitcoin Exchanges. Investors are not even wait to see what happened in January (the fork of XT is on January 11, 2016).
The fork happens only if super majority of the network votes for XT or any other implementation which introduces the blocksize increase (including Core).
Bitcoin cannot evolve without forks.
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
I'm against XT. they want to make money on Bitcoin name
If you meant Blockstream then you're right.
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
This.Can we please stop this childish split, get together and come up with a synthesis?
Core devs, for fuck's sake, try and find a reasonable consensus and stick with ONE Bitcoin.
Bitcoin IS not going to split in 2. Miners have an incentive to agree so if XT hits the 75% threshold and forks the remaining miners will have to go along with it.
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
I'm against XT. they want to make money on Bitcoin name
How does that work? In theory can't we have like 1 bitcoin with a thousand forks so bitcoin becomes multifunctional but all forks remain a form of bitcoin that has the same price and can be interchanged?
No, if the exchange updates on XT , You will not be able to sell their Bitcoins from the old network
So how do I convert my old bitcoins to XT and prevent them from becoming worthless?
Yes, that is the main reason for Panic selling in Bitcoin Exchanges. Investors are not even wait to see what happened in January (the fork of XT is on January 11, 2016).
I think Bitcoin should be used for transactions and forks should be used for eating dinner.
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
Can we please stop this childish split, get together and come up with a synthesis?
Also, if XT is going to be endorsed, what does that mean for the bitcoins currently in my wallet? Will they become worthless or can I somehow exchange them for XT?
I'm against XT. they want to make money on Bitcoin name
How does that work? In theory can't we have like 1 bitcoin with a thousand forks so bitcoin becomes multifunctional but all forks remain a form of bitcoin that has the same price and can be interchanged?
No, if the exchange updates on XT , You will not be able to sell their Bitcoins from the old network
sorry but this is just false
Why do You think?, if the developers sent MiningPool requirement for the update on XT
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