Isn't BU an altcoin already? its an alternative coin so its an ALT.
ETH is an alt and ETC still is an alt. The only problem i see though is that BU has value as the chain splits. They can't just let the consensus decide so everyone has to suffer.
Topic: Why not treat BU as Alt? - page 2. (Read 2351 times)
Bitcoin Unlimited = BTC
Bitcoin Core/Blockstream = BCB
Let those stupid fuckers take the other name. 'BTC' is for the original 'real' bitcoin. BTC is for Bitcoin unlimited.
Bitcoin Core/Blockstream = BCB
Let those stupid fuckers take the other name. 'BTC' is for the original 'real' bitcoin. BTC is for Bitcoin unlimited.
why not treat BU like another Altcoin similar to btc?.
SegWit is the Alt. Bitcoin unlimited is Bitcoin.
BTU is a subdivision of BTC, however, I think it's just an alt coin. Because we do not need such a kind of money, I think it will be useless in the future, and its value will never be equal to bitcoin. The BTU was created only to satisfy the greed of the miners, so it would not last long. I believe that is true. I always hope bitcoin is a single currency, it should not be divided
Miners should not be allowed to impose their whims on users.It is true that miners have a strong say but the ultimate power rests in users hand. When we can have both btc and BU co exist, why not treat BU like another Altcoin similar to btc?.
Why can't both compliment each other?
Why can't both compliment each other?
Because BU has a goal of replacing BTC asap, and since both will have the same blockchain history until the moment of forking, BU will be able to easily appeal to most of the Bitcoin users. Altcoins are usually distributed via mining starting early from genesis block or ICO, but BU will be different from any altcoin, in terms of distribution. So in some sense BU is an altcoin, and in some is not. Just look what happened with ETH and ETC and you'll get some idea of what can happen with Bitcoin and BU.
I would fully support that solution. I am currency agnostic, so if "BU-altcoin" is done that way (without premine or ICO or so)
No one who really supports BU would support that, as we obviously want the legacy blockchain and everything that comes with it, including an undiluted asset. We want Bitcoin to scale , not an alt.
All exchanges alredy said it's gona be an alt. So goodbye taking over chain. After fork BTU will be like any other shitcoin like ETH, DASH and etc.
bitcoin unlimited is not Bitcoin. It is created to destroy bitcoin and destroy the decentralized system. Most of bitcoin unlimited will obviously controlled by the Chinese and when it fully realeases, you will understand how idiot it can be. The chinese will control most of the mining hash rate. Moreover, we can easily start a 51 attack in bitcoin unlimited due to the reason that there are not many small miners anymore
Satoshi dumped Bitcoin right after Gavin announced he was going to the CIA.
https://bitcointalksearch.org/topic/satoshi-dumped-bitcoin-right-after-gavin-announced-he-was-going-to-the-cia-113609
https://bitcointalksearch.org/topic/satoshi-dumped-bitcoin-right-after-gavin-announced-he-was-going-to-the-cia-113609
BTU is a subdivision of BTC, however, I think it's just an alt coin. Because we do not need such a kind of money, I think it will be useless in the future, and its value will never be equal to bitcoin. The BTU was created only to satisfy the greed of the miners, so it would not last long. I believe that is true. I always hope bitcoin is a single currency, it should not be divided
When we can have both btc and BU co exist, why not treat BU like another Altcoin similar to btc?.
Why can't both compliment each other?
Why can't both compliment each other?
It is easy to say but it is hard to do. Creating codes such as segwit codes, bitcoin unlimited and other codes is a very complex job and how much more integrating them. The much easier choice is to create a consensus that all miners will use one universal code so that bitcoin will solve its problems. But even reaching a consensus is hard then how much more it is to synthesize all codes into one.
Bitcoin Core was Satoshi’s implementation of his novel Nakamoto consensus algorithm.
Bitcoin Unlimited is an attempt to utterly destroy Nakamoto Consensus in Bitcoin.
The new bitcoin unlimited implemented without community standards.It developed to destroy the original bitcoin core.Now a days forking affects the bitcoin price,this is the reason bitcoin price decrease a lot and the situation is unstable.This condition very risk for traders and minors.Finally,Bitcoin unlimited is just a diversion not a alternative.
Bitcoin Unlimited is an attempt to utterly destroy Nakamoto Consensus in Bitcoin.
The new bitcoin unlimited implemented without community standards.It developed to destroy the original bitcoin core.Now a days forking affects the bitcoin price,this is the reason bitcoin price decrease a lot and the situation is unstable.This condition very risk for traders and minors.Finally,Bitcoin unlimited is just a diversion not a alternative.
Do you realize that if BU forks with majority hash power, it will be the longest chain... but also the 1mb version will be 4-5x as slow (40-50 minute blocks) and difficulty wont adjust for as long as 8-10 weeks?
That's interesting... although with the blocks taking four to five times as long to find, perhaps it will need a bit of time before it can overtake core as the one with the longest chain. Also, I predict a lot of people who had held off getting into mining will jump in to fill the void left by BU jumping ship... so perhaps hashpower will only be a temporary issue for core.
Because the Bitcoin Unlimited is a fork from the bitcoin itself. It's mean if that will disrupt the crypto community.
We do not need the Bitcoin Unlimited coin. It will be worthless in the future.
We do not need the Bitcoin Unlimited coin. It will be worthless in the future.
Well, if I were in charge of Unlimited I would start it off as a fresh alt and forget forking completely. Their blockchain could start in a similar way to Clams, take an image of every BTC balance and start from there.
They'd have plenty of mining grunt to get up and running and no shortage of awareness. If people like what they see then they can buy in with their BTC.
Exchanges have already stated they'll list in the case of a contentious fork, no doubt they'll be delighted to list something that isn't the child of strife. If it really is superior to its daddy then the market will naturally migrate with no risks to anyone or anything.
Forking has started unnecessary confusion and division among community and is not good for either btc or BU.
Will the exchanges already declared that BTU will be treated as an altcoin. Dont know if a fork is good for bitcoin but these is the solution chose with the scaling problem.
BU was good at the start before it had some critical bugs that shutdown it's nodes and now another recent attack just occurred.
BU was good at the start before it had some critical bugs that shutdown it's nodes and now another recent attack just occurred.
legendary
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No one who really supports BU would support that, as we obviously want the legacy blockchain and everything that comes with it, including an undiluted asset. We want Bitcoin to scale , not an alt.
But let's assume that the Unlimited alt works great and people find it more useful than Core. Over time more and more people move across and it usurps Core. It could happen more rapidly than anyone expects.
It would be out there. It would be working. Its creation wouldn't be mired in contention. People could make what they wanted out of it without endless conjecture.
In that scenario it started off with a snapshot of the original chain and eventually it squirts past it out of pure merit and in circumstances with no baggage whatsoever.
If it's founded on the original chain, attracts most of the users and miners from the original chain, it becomes the daddy chain by market consensus. It would be hard for anyone to question or resent its success in that scenario.
I could agree with that. You might even say that it would be even more respected and 'cleaner' since it would have none of the tainted history of Bitcoin (mt gox, etc). (Doesn't mean forking off will get much support though.)
No one who really supports BU would support that, as we obviously want the legacy blockchain and everything that comes with it, including an undiluted asset. We want Bitcoin to scale , not an alt.
But let's assume that the Unlimited alt works great and people find it more useful than Core. Over time more and more people move across and it usurps Core. It could happen more rapidly than anyone expects.
It would be out there. It would be working. Its creation wouldn't be mired in contention and it's based on something everyone's already familiar with. People could make what they wanted out of it without endless conjecture.
In that scenario it started off with a snapshot of the original chain and eventually it squirts past it out of pure merit and in circumstances with no baggage whatsoever.
If it's founded on the original chain, attracts most of the users and miners from the original chain, it becomes the daddy chain by market consensus. It would be hard for anyone to question or resent its success in that scenario.
legendary
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if the fork happen..
exactlyprobably what will happen. Most exchanges already said that.
When we can have both btc and BU co exist, why not treat BU like another Altcoin similar to btc?.
thats Because the Bitcoin Unlimited is a fork from the bitcoin itself.
yeah... just like most altcoins...Do you realize that if BU forks with majority hash power, it will be the longest chain... but also the 1mb version will be 4-5x as slow (40-50 minute blocks) and difficulty wont adjust for as long as 8-10 weeks?
if the fork happen..
exactlyprobably what will happen. Most exchanges already said that.
Are you going to support Bitcoin Unlimited or Bitcoin Core?
We will support Bitcoin Core continuously as BTC. In line with our current internal policy, if you have Bitcoin on balance at the time of the fork, we will make Bitcoin Unlimited available for withdrawal provided it is safe to do so.
https://poloniex.com/press-releases/2017.03.17-Hard-Fork/
and just like poloniex, most exchanges will follow core as bitcoin and BU as an altcoin.
When we can have both btc and BU co exist, why not treat BU like another Altcoin similar to btc?.
thats Are you going to support Bitcoin Unlimited or Bitcoin Core?
We will support Bitcoin Core continuously as BTC. In line with our current internal policy, if you have Bitcoin on balance at the time of the fork, we will make Bitcoin Unlimited available for withdrawal provided it is safe to do so.
https://poloniex.com/press-releases/2017.03.17-Hard-Fork/
and just like poloniex, most exchanges will follow core as bitcoin and BU as an altcoin.
Because the Bitcoin Unlimited is a fork from the bitcoin itself.
yeah... just like most altcoins...legendary
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I would fully support that solution. I am currency agnostic, so if "BU-altcoin" is done that way (without premine or ICO or so)
No one who really supports BU would support that, as we obviously want the legacy blockchain and everything that comes with it, including an undiluted asset. We want Bitcoin to scale , not an alt.
BU is just a code implementation,
there are MANY
core, knots, fibre, bitcoinj, bitcoin ruby, BTCd, nbitcoin, statoshi, bitcoinxt, bitcoin classic, bitcoinunlimited... and so on.
there are MANY
core, knots, fibre, bitcoinj, bitcoin ruby, BTCd, nbitcoin, statoshi, bitcoinxt, bitcoin classic, bitcoinunlimited... and so on.
That's a bit [purposefully!] inexact, don't you think? Most of the implementations you mention do not alter the protocol. Bitcoin Unlimited does, and in a way that's incompatible with the existing protocol. That is not "just another implementation".
Such dramatic changes should not be tried without a discussion and majority acceptance. I think even if the "censorship" problem was that dramatic as BU supporters describe, we're far away from that. Bitcoin's design has the flaw that it allows miners to change the protocol. If Bitcoin was Proof of Stake, then BU probably would have no chance to get near 50% of adoption - even considering Roger Ver.
Well, if I were in charge of Unlimited I would start it off as a fresh alt and forget forking completely. Their blockchain could start in a similar way to Clams, take an image of every BTC balance and start from there.
I would fully support that solution. I am currency agnostic, so if "BU-altcoin" is done that way (without premine or ICO or so) and really works as expected for a long time and I consider inappropiate the direction BTC (Core) is heading, I would perhaps consider even to change my usage from BTC to BU (if there is acceptance at the place where I am).
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