Topic: What are the pro and con's about forking bitcoin? - page 2. (Read 1282 times)
it's only a drama when core devs are not agreeing on what is the best for bitcoin. if they decide to release 2 forks instead of 1 that's when problems start. one of them will turn out to be the leading fork. the other at that point is nothing more than an altcoin.
What a noob needs to know is mostly: don't panic, even if you were to be absent to all of this, you would never lose your coins. For example, if you were holding your coins since 2009, and come back in 2017, and a hard fork has happened were you require another client (like Bitcoin XT or whatever), you'll still have your coins on there because the coins get "duplicated" into the new blockchain.
Hard forks are always not desired for a number of reasons but if it happens because there is no way out, the users will not suffer a loss of wealth, so don't buy into the drama.
Hard forks are always not desired for a number of reasons but if it happens because there is no way out, the users will not suffer a loss of wealth, so don't buy into the drama.
There are two notions of 'fork' when talking about bitcoin. One is to fork the software of bitcoin. The other is to fork the block chain. So all the groups agree up to some height n but after that height there are two 'n+1' blocks and one group of nodes follow one, and another group follows another. Then you have two distinct ledgers. For node n+2, the nodes should pick one chain over the other and leave one of the n+1 nodes as an orphan but when they fork this doesn't happen. Instead there are two block chains that march into the future that never agree. Like parallel lines that never meet.
This happened before with a version upgrade in bitcoin having to do with the database implementation. The solution was to abandon the one that had the older versions.
If you software fork the bitcoin project, then you can create an altercoin. That's another story.
sdp
This happened before with a version upgrade in bitcoin having to do with the database implementation. The solution was to abandon the one that had the older versions.
If you software fork the bitcoin project, then you can create an altercoin. That's another story.
sdp
Can anyone explain it to me? I really do not understand all the drama around it.
So if it forks everyone needs to update there wallet?
All coins and price remains? (so what is the problem?)
So if it forks everyone needs to update there wallet?
All coins and price remains? (so what is the problem?)
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