Well, it is good that we AFAIK we can't reach consensus with mining power alone. We need full nodes for that.
Miners don't necessarily represent the best general approach we should take, they are driven by personal profits above all else.
Topic: Nice way to double BTC for free (Read 1608 times)
Exactly!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
it will happen when at least 55-60% of miners support BU then maybe we will see split in the chain and boom all bitcoin holders will have same amount of BU. the question here is if there will be two chains. also if exchangers will support it. what happens to holders who have bitcoin on for example bitstamp. will their bitcoin count towards having same balance of BU?
fork without majority (consensus) : you end up with useless forked chain.
fork with majority (consensus) : you end up with one single chain without leftover
You said it all. I was literally laughing reading this thread as everyone seems to think that ETH had the first fork and got split into two and many made their money with it,good luck making that with bitcoin as there was a fork earlier in bitcoin during 2013 i think and i guess no one noticed that ,they were done carefully to avoid any split and hope the dev will do that here too. fork with majority (consensus) : you end up with one single chain without leftover
1) Wait for Jihan Wu to create BUcoin by hard fork
2) Exchanges list BUcoin
3) Users dump BUcoin for BTC because the best devs are the Core devs and all merchants support Core+segwit
4) Jihan Wu goes back to BTC accepting defeat or stays mining useless marginal coin (just like the ETC miners)
5) Enjoy doubled BTC
2) Exchanges list BUcoin
3) Users dump BUcoin for BTC because the best devs are the Core devs and all merchants support Core+segwit
4) Jihan Wu goes back to BTC accepting defeat or stays mining useless marginal coin (just like the ETC miners)
5) Enjoy doubled BTC
you are making an idiotic assumption.
if Wu hard forks now, he has hard forked shit that nobody wants, and yeah your bitcoin would be doubled but you would own bitcoin on current chain worth ~$1200 and would own bitcoin on WuChain worth $0.
however if Wu and the rest of the hashrate and then afterwards (the next step) the rest of the nodes show they want that fork, bitcoin will fork and you will own bitcoin on only one chain that everyone switched to and be worth $1200 and there won't be any other chain unless you and a couple of others run the old chain.
and the same goes for any other fork.
for example if SegWit forks now with ~20-30% it would be shit that nobody wants. and if it forks with majority then there will be no other chain so you can have bitcoin on! again unless you and a couple of others run the old or other chains and have coins worth $0 there.
change the word SegWit, BU, ... to anything you like and you get the same answer.
TLDR:
fork without majority (consensus) : you end up with useless forked chain.
fork with majority (consensus) : you end up with one single chain without leftover
how are merchants listening BU if they are with core dev + segwit like you said? you are contraddicting yourself
merchants will never accepted BU and if they will, BU will be the new "core" because it has also the miners needed % to succeed
merchants will never accepted BU and if they will, BU will be the new "core" because it has also the miners needed % to succeed
Exactly!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
it will happen when at least 55-60% of miners support BU then maybe we will see split in the chain and boom all bitcoin holders will have same amount of BU. the question here is if there will be two chains. also if exchangers will support it. what happens to holders who have bitcoin on for example bitstamp. will their bitcoin count towards having same balance of BU?
So, BU has reached a half of his signalling chart. Why don't reach 75% to activate BU?
1) Wait for Jihan Wu to create BUcoin by hard fork
2) Exchanges list BUcoin
3) Users dump BUcoin for BTC because the best devs are the Core devs and all merchants support Core+segwit
4) Jihan Wu goes back to BTC accepting defeat or stays mining useless marginal coin (just like the ETC miners)
5) Enjoy doubled BTC
2) Exchanges list BUcoin
3) Users dump BUcoin for BTC because the best devs are the Core devs and all merchants support Core+segwit
4) Jihan Wu goes back to BTC accepting defeat or stays mining useless marginal coin (just like the ETC miners)
5) Enjoy doubled BTC
yeah, if you are foolish enough to hope for a split to make a one time only profit then this is what you can hope to happen. because mark my words if bitcoin splits that would be the end of it. it will die and we all would be left holding a worthless token on both chains.
I'm sure BU will go bust sooner ore later, but when those retards HF i will sell.
1) Wait for Jihan Wu to create BUcoin by hard fork
do you think that's possible ?
do you think that's possible ?
If that ever happened, which I seriously doubt, price would tank much more than 50%. The panic and the confusion could be catastrophic for people's trust that their currency is worth what they paid for, trust is by far the most important asset for BTC. Once it's gone...we would see at least 75% price loss, I'm sure.
Gaining trust is not that simple. If bucoin gets mined continuously too it won't gain the trust from the digital currency users. Several coins are getting listed into the exchanges regularly. As a part bucoin gets added. On basis of this there is no need of panic or losing trust over bitcoin. Op has exaggerated the antpool mining in comparison to segwit that's it.
If that ever happened, which I seriously doubt, price would tank much more than 50%. The panic and the confusion could be catastrophic for people's trust that their currency is worth what they paid for, trust is by far the most important asset for BTC. Once it's gone...we would see at least 75% price loss, I'm sure.
What honestly that BUcoin is it a new altcoin ICO release? why you are promoting them i dont see any trends about those altcoin you are mention do you have guys any links to that altcoin thread so that i can check more details about this thanks.
LOl, nice joke there, it keeps me laughing. I think the topic is a pre-discussion of the possible pre-ann of this coin.
Anyway, if what OP stated is realized then we have two chain. Just like ETH and ETC, our unspend bitcoin in wallet before the split will definitely appear on whatever wallet we are using. This makes our BTC present on each chain. Though probably price won't be the same on both chain since definitely one will get the upper hand and the weaker one will start to collapse.
Well since this is pre-announcement how they know that we can double our bitcoin in BUcoin. so it will be the same as ETH or ETC what you mention..?
Well i see that how they are promoting this kind of altcoin before and how the price goes up.
i will be waiting for jihan wu to create BUcoin and i am curious how it will look like the coins. but i am curious if bitcoin is really hard fork and i am thinking what will affect in the market especially with bitcoin user in future. but i think if this is really happen, then maybe the price of bitcoin will be down to deep without anyone can predicting.
what is Bucoin
new altcoin , by created china people, this same use bitcoin system, or china goverment can create new coin to can replace bitcoin in china exchanger, you can share about bucoin article
new altcoin , by created china people, this same use bitcoin system, or china goverment can create new coin to can replace bitcoin in china exchanger, you can share about bucoin article
Either way this goes price will dump as people sell off on both chains. I'd like it as I'd be able to cash out nicely and get at least 1x my money or more safely as there is nothig stopping a replay attack in the BU software, but it'd also adversely affect BTC. We don't know if it'll ever happen though...
i agree, bitcoin might lose 50% of value but if bitcoin holders play it smart then they can sell on both chains and buy back lower with good profit
This has big chance of happening. if you look at the chart:
https://coin.dance/blocks#proposals
you see BU has in the last 3 days gained good amount of support from miners. 10% -15 % more and this will be very very intresting
Either way this goes price will dump as people sell off on both chains. I'd like it as I'd be able to cash out nicely and get at least 1x my money or more safely as there is nothig stopping a replay attack in the BU software, but it'd also adversely affect BTC. We don't know if it'll ever happen though...
Exactly!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
it will happen when at least 55-60% of miners support BU then maybe we will see split in the chain and boom all bitcoin holders will have same amount of BU. the question here is if there will be two chains. also if exchangers will support it. what happens to holders who have bitcoin on for example bitstamp. will their bitcoin count towards having same balance of BU?
Even better strategy would be to sell BTC for the inevitable crash after the fork and then buy it back.
well that would work if one could be sure BTC would crash. i will keep my btc and then get BU on the new chain then for sure i will play on both chain sell and buy ... i am very excited hahahah
but i do not know, this might never happen... and if it happens , exchangers need to pick up BU.
There most definitely will be a crash. Questions are, how much of a crash and how long will the price stay depressed. Additionally, will both coins survive and at what value will each be?
With BU then we can all know the answer with this hard fork if orchestrated just in the right way.
Even better strategy would be to sell BTC for the inevitable crash after the fork and then buy it back.
well that would work if one could be sure BTC would crash. i will keep my btc and then get BU on the new chain then for sure i will play on both chain sell and buy ... i am very excited hahahah
but i do not know, this might never happen... and if it happens , exchangers need to pick up BU.
There most definitely will be a crash. Questions are, how much of a crash and how long will the price stay depressed. Additionally, will both coins survive and at what value will each be?
Exactly!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
So when will this hard fork going to happen?
Notify us all about it so we can do this!
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