Topic: "The Real Bitcoin" (Read 578 times)
I feel like the discussion on this is to nebulous to follow. While I have seen the warning from the core team. Where is the main discussion for this happening? Where is a more public meeting, where are people voting to support this? Can we just have a final check for who is on board before we possibly destroy our coin?
Charlie Lee got me scared
https://twitter.com/SatoshiLite/status/925975917108781056
Charlie Lee
@SatoshiLite
"If Segwit2x miners manages to kill original chain with a 51% attack, Bitcoin will eventually lose the crypto throne. My bet is on Litecoin."
https://twitter.com/SatoshiLite/status/925975917108781056
Charlie Lee
@SatoshiLite
"If Segwit2x miners manages to kill original chain with a 51% attack, Bitcoin will eventually lose the crypto throne. My bet is on Litecoin."
I will keep my Bitcoin in my wallet, and wait until I'm sure it will be safe to claim my B2X.
I think Hashrate is not what counts most. If majority of miners start supporting SegWit2x blockchain but without the support of majority of the Bitcoin community, they will only flood the market with a coin that people are not willing to buy. It would be a new opportunity for new miners invest on Bitcoin Core blockchain as its difficulty would be lowered.
It would be a big mistake if some exchanges start to call the new coin as the real Bitcoin and assign the ticker BTC to it if the majority of community does not support SegWit2x. It would confuse people, make some of them lose their money sending BTC to a wrong wallet address because of these exchanges. It would make a lot of people to boycott these exchanges. I would never use any exchange that may confuse me and make lose money.
I think Hashrate is not what counts most. If majority of miners start supporting SegWit2x blockchain but without the support of majority of the Bitcoin community, they will only flood the market with a coin that people are not willing to buy. It would be a new opportunity for new miners invest on Bitcoin Core blockchain as its difficulty would be lowered.
It would be a big mistake if some exchanges start to call the new coin as the real Bitcoin and assign the ticker BTC to it if the majority of community does not support SegWit2x. It would confuse people, make some of them lose their money sending BTC to a wrong wallet address because of these exchanges. It would make a lot of people to boycott these exchanges. I would never use any exchange that may confuse me and make lose money.
The real Bitcoin is the one with the longest chain that is valid. In order for it to be valid, the chain has to have the most cumulative Proof of Work under consensus rules. In order to do that, you must have a full node and the full nodes on the Bitcoin network are extremely decentralized and have no intention of switching their consensus rules to a chain that is clearly not valid as it does not benefit the whole network.
If that were true, then maybe the Bitcoin 0.2 or Bitcoin 0.3 network is the "real" Bitcoin. Because a dozen or so consensus rules changes have happened over the years.
(note: there are no Bitcoin nodes existing on the network less than version 0.8, just to highlight how far we have to stretch reality to make this true)
What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.
The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
When bitcoin cash and bitcoin gold take place, people are afraid of this, but no one isn't leaving the bitcoin so do not worry about this. The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.
The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
The real Bitcoin is BTC. The Segwit2x fork is going to be controlled by former bank executives. They will control it so it will no longer be independent and decentralized.
The real Bitcoin will always be in control of the people and be decentralized so no bank or government or small group of people control it. Otherwise it defeats the whole purpose of Bitcoin.
It is yet to be seen which coin will be stronger but i’m sticking with the one that is decentralized.
The real Bitcoin is the one with the longest chain that is valid. In order for it to be valid, the chain has to have the most cumulative Proof of Work under consensus rules. In order to do that, you must have a full node and the full nodes on the Bitcoin network are extremely decentralized and have no intention of switching their consensus rules to a chain that is clearly not valid as it does not benefit the whole network.
I think what is original stays original all the time and there is no way the facts can be changed for real bitcoin (the one which is currently). I think its far fetched to see new blockchain to be considered as more prominent and the related B2x coin as far greater than the current one. Why and what would really be the reason that people will have to choose the second entity, I see no reason at all.
People will not be confused with the bitcoin as they did not with the BCH, BCC, and BTG. Now whatever comes up front will be just another story of its brother. So stay relax and watch the power of bitcoin grow.
What we are getting from every fork is just another altcoin which is actually clone of original bitcoin with some modification only. We have many of those clone coins before which we all consider as altcoin till now and neither of them have got enough support to out-game the real bitcoin.
Many used to hype about bitcoin cash before august fork, like it will take over bitcoin but it didn't.
Same thing is spreading around again for B2X, it might gain some support from miners and so it will have some value but I don't think it will have majority of mining power in anyway. Even though if it will have majority of mining (almost impossible) it will be called as B2X coin rather than bitcoin by many people + exchanges.
Many used to hype about bitcoin cash before august fork, like it will take over bitcoin but it didn't.
Same thing is spreading around again for B2X, it might gain some support from miners and so it will have some value but I don't think it will have majority of mining power in anyway. Even though if it will have majority of mining (almost impossible) it will be called as B2X coin rather than bitcoin by many people + exchanges.
May the strongest coin win. If ever a coin is coined from a fork that ends up being better than bitcoin and more popular ( higher price), then so be it. I dont see it happening anytime soon, but it is a free market, and people are free to choose what works best for them. Just keep your theory in mind when making your next bitcoin purchase, that it could all go tits up at any moment.
I think Segwit2x is just a new way for users to trade faster and more expensive. This is also another Bitcoin form, so there will not be any investors or miners who left Bitcoin at the expense of the increase. I really hate to raise fees, it costs me a lot of money and it's no different from paying taxes
What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.
The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
If existing miners chose to mine the new coin after the coin it will be an opportunity for other people to get into mining since difficulty level will eventually decrease. And it is impossible for those miners to leave BTC since every one knows that it is the main coin and even new comers are opting to buy bitcoin that alt coins because it is more reputable than them. Just heard segwit 2x supporters are backing up.
What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.
The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?
What is your plan so far and what do you expect?
That's how forks work, though. The coin that has the major support will get the future developments no matter if some hard core users oppose it, and the one that wasn't chosen by the majority of the miners simply die off or live as an altcoin. You can still support the coin of your liking even if it doesn't receive the majority of the hashing power. It simply isn't being recognize as the "original" coin and a few users might have it ready for trading compared to the one who received the majority of the mining power.
By nature, forks are good. But at the current state of affairs it's being abused by people who have their own selfish agenda that is completely different from what the majority wants.
It's going to a race to win over as many people as both chains can. The segwit 2x one will naturally will have harder time pursuing their goal of becoming the bitcoin (and thus receive the BTC ticker) than the chain we currently have. The closer we get to the deadline to more political this debate becomes. Personally I would prefer to go further with the current chain, if for whatever reason segwit 2x comes out on top I don't think 'bitcoin' will remain the dominant cryptocurrency in the space.
From nowhere a new fork coin backed by miners and Coinbase will be the new bitcoin, is it? No way, even I myself received and read that email announcements by that exchange platforms. If we abide by there decision and wants, is this the start of being dictated by a group of people for what is best and what is right. Cryptocurrency is decentralized in nature, opposing this move is the option that remains.
B2x is not the real bitcoin because a real one doesn’t copy the original bitcoin core, right? I feel and smell something fishy about this collaboration by miners and Coinbase support. I feel something or someone is orchestrated this move and the bitcoin community will not allow this kind of thing.
B2x is not the real bitcoin because a real one doesn’t copy the original bitcoin core, right? I feel and smell something fishy about this collaboration by miners and Coinbase support. I feel something or someone is orchestrated this move and the bitcoin community will not allow this kind of thing.
I understand your concerns OP, but there is only one bitcoin. at least for now. Why will people choose the new coin over the real one? All these forks are creating new coins that will compete with each other and kill themselves off when they become too much, while the original copy chugs along nicely.
It is just like a relationship, people are already attached to bitcoin at most for 8 years and counting. I don't think people will easily abandon bitcoin core and just ride on this segwit 2x. In my case, all bitcoin forks are just altcoins, still bitcoin core is the real bitcoin.
If only the price of this new fork is more than the current price of bitcoin core, then maybe people will start to support it, but we know it can't be like that.
If only the price of this new fork is more than the current price of bitcoin core, then maybe people will start to support it, but we know it can't be like that.
I wonder how will all this effect the market. how will price of USD and alts with respect to bitcoin which ever one it will end up being called bitcoin. the price can't remain the same can it? I think this is the biggest thing that will happen to bitcoin so far.
Personally, I will not risk my own means and leave them all to keep in the altcoys and ETH. This risk can end badly and you can lose all your money. After all, no one knows what will happen with bitcoin by 100%. This is frightening. So it's better to protect yourself. 
people are not just going to abandon bitcoin if some hashrate leaves! bitcoin may have some problems if a large portion of it leaves but that will be temporary and surely not all of the hashrate.
and it is not all about miners, it is all the users who also have to choose between these chains. if majority of users also choose the fork then it will be bitcoin and the old one will be abandoned.
maybe i am alone but i had a much clearer choice about bitcoin cash than i have now. i wish more of the topics spend some time about arguing about things that are "technically" bad about SegWit2x rather than things that are politically and emotionally wrong with it.
and it is not all about miners, it is all the users who also have to choose between these chains. if majority of users also choose the fork then it will be bitcoin and the old one will be abandoned.
maybe i am alone but i had a much clearer choice about bitcoin cash than i have now. i wish more of the topics spend some time about arguing about things that are "technically" bad about SegWit2x rather than things that are politically and emotionally wrong with it.
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