Topic: Why no BTC-Fork Altcoin? (Read 552 times)
Thanks for doubling my money.
u mean whole existing bitcoins address and the keys to be in network ?
Yes, I guess.
I'm no expert and I don't know if it is possible.
The idea is just that it would have the same blockchain until block X and from then on become a parallel blockchain. All addresses and keys would be identical, but after block X I assume it would only make sense to give each fork its own life (payment in one is not a payment in the other).
If you own 10 BTC before block X you will after have both 10 BTC and 10 BTC-2.0.
I believe such an altcoin would quickly die unless it offers some very good advantages. On the other hand, if one day there really is a need for a better protocol (e.g. turns out bitcoin addresses can be hacked), then maybe something like this will be the solution.
u mean whole existing bitcoins address and the keys to be in network ?
Altcoins initial goal is to enrich the founders by attracting newbies. If the founders start from bitcoin they cannot make money.
With dozens of more or less worthless altcoins released every month, I wonder why none (?) of them are forks of bitcoin.
With a fork I imagine a new protocol that starts with the current bitcoin blockchain but has a new set of rules for adding blocks to it. Anyone who owns BTC today will automatically own just as many of the new coin as well. Pre-mining is therefore not an issue, and those who own Bitcoin would find their ownership in the new coin interesting even if it only has a remote value.
The new protocol would be an improved bitcoin. It could be called Bitcoin 2.0. Confirmation could be much faster, mining could use a CPU-friendly algorithm, proof of stake could reduce power consumption, etc.
With a fork I imagine a new protocol that starts with the current bitcoin blockchain but has a new set of rules for adding blocks to it. Anyone who owns BTC today will automatically own just as many of the new coin as well. Pre-mining is therefore not an issue, and those who own Bitcoin would find their ownership in the new coin interesting even if it only has a remote value.
The new protocol would be an improved bitcoin. It could be called Bitcoin 2.0. Confirmation could be much faster, mining could use a CPU-friendly algorithm, proof of stake could reduce power consumption, etc.
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