Topic: #NO2X - JOIN THE WAR! (Read 5272 times)

in the last segwith they were born BCH, and not happened with BTC. this segwith mayber born BTG and not happened with BTC. BTC is hero

Fuck yeeeeeeeeee

Not really useful, no.

Comparing Bitcoin Core code to Garzik code, or Bitcoin XT or BU or Classic or [insertRandomFailedTakeover] code is a joke. You can't even make a proper analogy that would both accurately describe the difference yet point out how absurd it is to even attempt to compare said differences. More Bitcoin companies and big players need to offer at least a single paid position for working on Bitcoin Core. I think I've recently spotted one at Xapo.

That doesn't make any sense. The paragraph below is the definition of what's required for 100% uptime and reliability.

So Core somehow guarantees 100% uptime and offloads the work that permits it to the cranks, deadbeats and failures who litter the scene? They are no doubt control freaks but for a good reason.

Every other iteration has completely pissed all over the important back room stuff which is usually uncovered within a few seconds by real people.

Thanks for this....very helpfull

Interesting read on the subject,
https://blog.commerceblock.com/upcoming-fork-352cd9f9951a

Nope, they have a new diff algo. The nitty gritty is here https://www.yours.org/content/deadalnix-s-difficulty-algorithm-explained-ac50eb2b1f16/

Many people don't realize that BTC difficulty calculation is only every 2016 blocks. That is a potentially fatal flaw in the coin that may very well cause the death of the Segwit1x chain, regardless of what Bitmex or any other exchange says "the real BTC" is. Basically the difficulty doesn't drop and the chain slows to a halt (AKA chain death spiral). If you look at the Segwit BTC chain right now, you'll see that exactly this starting to happen right now! Hashrate has dropped 6 exahash in the last 24 hours, while diff went up 21%, and the mempool is 30-50MB, That means that Segwit BTC blocks are only getting mined every 20 minutes on average, With full blocks, transactions get backed up quite quickly... this could even continue and get much worse in the next few weeks as Segwit BTC1x may never get to 2016 blocks for the diff adjustment!

Bitcoin Cash has the EDA precisely to avoid the death spiral phenomenon. Unfortunately, the EDA adjusts difficulty in an asymmetrical manner (down faster than up), causing the miners to game the algo a bit. As other have stated, this means a few extra coins are issued ahead of schedule, and block times are a bit sporadic. The fork will fix that. And then the 2x/1x war will be in full swing.

I'm long popcorn.

This is coming from Bitfinex.

Bitmex is also #NO2X.

And we all know that these two exchanges holds big portion of daily trades;




Considering my previous comment, miners might not play let's-wait-and-see card. After XT, Classic, Unlimited and Bcash failures, I think they might risk it all and halt the legacy network.

Interesting... thanks for the info. I figured that Bitmain quite liked the EDA, since they could paint it as "low fees guaranteed" when it effectively just decreased block time on average in favor of mining rewards. I agree that the hyperinflation angle is exaggerated, but you can't blame bitcoiners for taking that position, can you? If you asked BCH supporters before the fork, I'm sure all of them would reject the idea that BCH should be mined faster than Bitcoin.

So are they just removing the EDA entirely and returning to the old difficulty algorithm? Probably smart and good timing for the market as we head into the November uncertainty. If the 2x chain is the "corporate takeover" and the 1x chain is unusable due to low hash rate and high fees, Bitcoin Cash can step right in and profit from all the confusion and uncertainty.

The EDA is being removed on Nov 6 via hardfork. The rate of coin issuance caused 15k BCH coins to be mined more than BTC. Hardly a big problem. Hyperinflation is a massive exaggeration. The BCH price is nice and low now, which should drive in a ton of volume from people feeling the 1x chain death and 2x price drop. Personally I am long all major alts.

I support Core ideologically, for the most part.
However the increase in block size does make sense to me.

I don't know if Bitcoin should only be used as a 'settlement' coin.
I'd like to see it used more for daily transactions for even a cup of coffee.
I am reading that fewer retail places are accepting Bitcoin, this is not good; so i'm willing to listen and support proposals that that aim to increase it's use.

I really wish people would stop painting this situation so black and white because that makes outsiders, that are potential new users, believe that there are only two sides that can influence the Bitcoin network, when really it's a massively coordinated effort.

You nailed it - the task is too big for 'a core'.

For me it would be fine if we had a core for exclusively  'running reliably with 100% uptime.' I've thanked core for doin this at different places already. And I'm pretty sure that this is a full-time job for 10 FE - just doin this.

But for all other tasks like Requirement Engineering, Risk Management, Prototyping, Project Management, Testing - QA, Feedback Looping, Deployment, Change Management, .... you name it - This all gets too much - no wonder that we are already deeply split!

To get started all this important things needed for the size and importance of bitcoin -  even free discussion was not allowed, despite BCT is still best unifying form I know from. - Tell me how could all this constructively be done not with these resulting forks in competition?  It's seems that we can only watch the logical consequences now, but the 2X might be the last chance to try - otherwise try to think what the big economic companies (NYA is just a small part seen here) will choose to do next ?  


Our existing core team is just not industrial style, not experienced not skilled not diversified, not constructive and not prepared enough to get this high rate growing baby under their control they wished to have.

It's not their failure they cannot do but it's their failure to try it (despite they might see it's breaking up more and more).

i can sympathize with that sentiment, but it's important to recognize that the bitcoin ecosystem is extremely diverse now. there is a massive global user base. people depend on bitcoin for their livelihoods, and businesses depend on bitcoin running reliably with 100% uptime. that's who core has to think about.

they are trying to minimize network disruptions and keep bitcoin scaling and functioning while continuing to see massive growth. that's no small task. they can't be expected to integrate changes to consensus rules (on short timelines, no less) when there is no widespread support from the community for any one proposal.

Thanks for the info!
Very interesting.

Louise

No - bitcoin core just needs to listen more to the needs of ALL and there is no need to fork.

banks and corporate sector using bitcoin itself to there advantages!


rules are simple, if you can't beat it just clone it .



bitcoin core should not be allowed to fork, but everyone has free will, but its us community who should not fall for these forks.



most of the users who hold less then 1 BTC fall for these kinds of forks, thinking that they do not miss investing in bitcoin

I think you're right that Bitcoin Cash benefits from all this turmoil, and I'm guessing it'll see a bump in price as a result. But fundamentally, it's still a terrible cryptocurrency, especially considering the emergency difficulty algorithm basically bakes hyperinflation into the protocol -- until one day, the supply is mined out and fees are still low. What happens then?

As for 1x vs. 2x, I think the sensible thing for people to do is hold both. Selling either one for ideological reasons may end up hurting your portfolio a lot. Be careful regarding replay attacks and sell one or the other only when the market has made fairly clear what will happen in the mid to long term.

People are getting confused about what will happen on exchanges. Exchanges don't settle onchain until customers withdraw their coin. So they can price 2x and 1x at whatever their stupid customers believe to be pricing reality over the SHORT TERM, but when people go to withdraw 1x coins and there is a 1 week delay due to the chain death spiral, what do you suppose will happen to the exchange price?

Any fool trading these BTC1x futures and "dumping BTC2x" will get what he deserves...

Bitcoin Cash unaffected.