Topic: Why the split and when? (Read 1497 times)
Well,it looks like that's the perfect reason for BTC to be dropped little by little to it's last level.The split is going to cause big chaos,with people from both sides holding strong and supporting BTC or BTU,however this scenario may be dismissed as now there is not enough support for BTU.We are just experiencing the consequences of the rumours on the BTC price
Come one. It seems like you were new to the dump and pump situation of the bitcoin price theories may be right but it is what it is so we just have to use it properly and take advantage on it
What are the SegWit and Bitcoin Ulimited? Miner groups? 
Those are just terms flying around at this time and everyone is confused ,hope you have noticed that the transaction fees have increased and the delay in takes also increase it is because of the increased traffic and for that we have to alter the core software and we have two popular methods to do so,In simple words Segwit tries to upgrade the protocol with a simple soft fork while Bitcoin Unlimited will replace the protocol and removes the block size limit. 
What are the SegWit and Bitcoin Ulimited? Miner groups?
Segwit is the protocol if you will that is put out by the people at the head of bitcoin (the developers and people that put out bitcoin-qt). BU is a protocol that has been put out by a group that is trying to take over bitcoin.
What are the SegWit and Bitcoin Ulimited? Miner groups?
The hard fork supporters believes after the hard fork, it will be two chain.The two chains can have below properties:
The hard fork can create new chain then old chain ,then the new chain have new parameters and old chain have old parameters.The hard fork supporters believe in new chain can take over all controls of old chain and it can make it old chain useless.But,hard fork supporters forgot something,the new chain can't perform like old chain,because,miners will left with bitcoin,this would make bitcoin fees high. so,bitcoin unlimited miners will get low coins. so,they are definitely move to old block chain.if this will happen, the bitcoin price once again up and down. So,hard fork can't stop the original chain.And now a days the Block size is the on going big issue.
The hard fork can create new chain then old chain ,then the new chain have new parameters and old chain have old parameters.The hard fork supporters believe in new chain can take over all controls of old chain and it can make it old chain useless.But,hard fork supporters forgot something,the new chain can't perform like old chain,because,miners will left with bitcoin,this would make bitcoin fees high. so,bitcoin unlimited miners will get low coins. so,they are definitely move to old block chain.if this will happen, the bitcoin price once again up and down. So,hard fork can't stop the original chain.And now a days the Block size is the on going big issue.
Splitting is just pointless and doesn't accomplish anything for the good of bitcoin.
Just look at eth and etc for ethereum it just made it crippled and that is what it will do to the bitcoin core if bitcoin unlimited was let loose to do what they are doing.
Just look at eth and etc for ethereum it just made it crippled and that is what it will do to the bitcoin core if bitcoin unlimited was let loose to do what they are doing.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
OMG, thanks to this post OP, and to the comments to this post.. Now I know the reason whats behind the huge fall of Bitcoin. Now should I stay as BTC or stay as BTU.
Without a doubt protect your btc and mine a non BU pool.
unless of course you want Bitcoin to scale on the main chain with bigger blocks... or you think Segwit is too complicated or risky... or you think the Core team shouldn't be in charge of Bitcoin's scalability roadmap any longer since they've failed so miserably...
...in which case you might want to mine a BU pool.
I dont see how you can say they have failed it so miserably considering when you got up this morning your btc that you have was worth over $1200 us dollars a coin.
I guess if you like the recent network congestions, high fees, refusing to increase beyond 1mb so far, tens of thousands of lines of code "segwit", and insisting "our roadmap is the one true correct way" while a huge portion of the community disagrees to the point where a network split becomes a real possibility, then they've done a fantastic job.
The problem is 1mb is not enough to hold enough transactions anymore. Bitcoin unlimited wants to push the limit to (at least) 2mb and implement other things too. A hark fork is just when you now have two chains instead of one aka: two coins instead of one. If you own bitcoins now and there's is a fork you'll own both coins. No need to switch back and forth or anything. You could sell your coins from one side and buy the coins from the other side of you really believed in it more though.
Segwit (core) increases block size making your argument invalid.
OMG, thanks to this post OP, and to the comments to this post.. Now I know the reason whats behind the huge fall of Bitcoin. Now should I stay as BTC or stay as BTU.
Without a doubt protect your btc and mine a non BU pool.
unless of course you want Bitcoin to scale on the main chain with bigger blocks... or you think Segwit is too complicated or risky... or you think the Core team shouldn't be in charge of Bitcoin's scalability roadmap any longer since they've failed so miserably...
...in which case you might want to mine a BU pool.
I dont see how you can say they have failed it so miserably considering when you got up this morning your btc that you have was worth over $1200 us dollars a coin.
The problem is 1mb is not enough to hold enough transactions anymore. Bitcoin unlimited wants to push the limit to (at least) 2mb and implement other things too. A hark fork is just when you now have two chains instead of one aka: two coins instead of one. If you own bitcoins now and there's is a fork you'll own both coins. No need to switch back and forth or anything. You could sell your coins from one side and buy the coins from the other side of you really believed in it more though.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
OMG, thanks to this post OP, and to the comments to this post.. Now I know the reason whats behind the huge fall of Bitcoin. Now should I stay as BTC or stay as BTU.
Without a doubt protect your btc and mine a non BU pool.
unless of course you want Bitcoin to scale on the main chain with bigger blocks... or you think Segwit is too complicated or risky... or you think the Core team shouldn't be in charge of Bitcoin's scalability roadmap any longer since they've failed so miserably...
...in which case you might want to mine a BU pool.
OMG, thanks to this post OP, and to the comments to this post.. Now I know the reason whats behind the huge fall of Bitcoin. Now should I stay as BTC or stay as BTU.
Without a doubt protect your btc and mine a non BU pool.
OMG, thanks to this post OP, and to the comments to this post.. Now I know the reason whats behind the huge fall of Bitcoin. Now should I stay as BTC or stay as BTU.
Well this issue of blocksize has took too many time to get a suitable solution and now they are considering making the split and for sure it will damage bitcoin, we can see the community is moving some funds into others altcoins, but well i do wish the best to bitcoin, now the question wich part of the fork will remain with the bitcoin value?
Blocksize is addressed in segwit. So Im not sure why BU looks better.
Well this issue of blocksize has took too many time to get a suitable solution and now they are considering making the split and for sure it will damage bitcoin, we can see the community is moving some funds into others altcoins, but well i do wish the best to bitcoin, now the question wich part of the fork will remain with the bitcoin value?
- What is the problem that is leading to a fork?
- Is it really going to happen?
- And if yes, when?
The problem is about the scalability debate. And i think if you try to go to the bitfinex and you will see BCU coin.
There is no clear answer about its question. But it seems like many exchange sites to be ready for the hadfork in the future. But run a hardfork is not easy in my mind.
You have to consider the risk. It would be totally crazy to start a hard fork with only 30% support.
We'll talk about it if BU gains way over 51%.
We'll talk about it if BU gains way over 51%.
So, I understand a BTC is about to happen and apparently this is the reason the price is dropping this bad, too.
Novice questions. Thanks
- What is the problem that is leading to a fork?
- Is it really going to happen?
- And if yes, when?
Novice questions. Thanks
Actually no we will never split it is all FUD, dont believe what you read on the internet. Bu only has 30% of the hash power they need at least 80. in a year from now we will still be in the same position, unless the price drops and the miners cant take the losses anymore. in which case segwit will prob activate
Also, if indeed a HF is about to happen, when is it going to happen? Do you have any insight on this?
It is NOT about to happen. It is possible that maybe it might happen at some completely unknown and currently unpredictable time in the future. It is also possible that it never happens.
Before the fork can happen, there would need to be more than 50% of the hash power signaling that they support Bitcoin Unlimited. Realistically that percentage would need to be more than 60%.
It's possible that the hash power could get to 90% without any miners brave enough to try.
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