Topic: Will you use old Bitcoin if XT wins? - page 3. (Read 3671 times)
You people need to realize that the Bitcoin we love, the one in Satoshi´s vision is XT not the artificially limited core that we have now, go ahead search this forum and find what was Satoshi's vision about hard limit and nodes.
Whether or not we need bigger block sizes is a much different matter than if we should use XT controlled by Hearn and incorporating other controversial changes. I cannot see myself ever using XT.
But you realize that the only reason it is just two people, is because the other developers have a conflict of interest right? They want to keep the block size small so that they can use the side chain tech that they have invested money in to.
Great, agreed, but if core devs were right and Gavin is the evil guy why don't they increase the block size limit to end the situation?
If XT wins I'll end my journey with Bitcoins and maybe move to Litecoins or some other altcoins.
really? The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users.
— Satoshi Nakamoto, July 2010
It would be nice to keep the [block chain] files small as long as we can.
The eventual solution will be to not care how big it gets.
But for now, while it’s still small, it’s nice to keep it small so new users can get going faster. When I eventually implement client-only mode, that won’t matter much anymore.
-- Satoshi Nakamoto
Think again
Whether or not we need bigger block sizes is a much different matter than if we should use XT controlled by Hearn and incorporating other controversial changes. I cannot see myself ever using XT.
But you realize that the only reason it is just two people, is because the other developers have a conflict of interest right? They want to keep the block size small so that they can use the side chain tech that they have invested money in to.
If it wins we may experience a big price crash, so I don't know if I'll own any Bitcoin by then.
??Think again, harder this time
what would you preffer a bitcoin xt that anyone can use
old core limited to 7 tps
So this will mean satoshis 1 million coins will become 2 million? so lets suppose everyone takes their bitcoin offline and doubles them this would mean there will be 42 million coins? This will surely destroy bitcoin if this happens or something similar happens.
It is true but I don't think it will destroy bitcoin (maybe the overall value will go down). The coins on different chains will have different prices and I think their prices will depend on their network effects. There will be a war between these two chains and the bigger one will try to kill the smaller one.
If I keep 20btc in my Trezor before the split, after the split I should have 20btc in the original bitcoin chain and 20btc in the XT chian.
If I keep 20btc in an exchange like Coinbase before the split, after the split I will likely only get 20btc in the XT chian if the exchange choose the XT and I will not likely get 20btc in both chains.
Am I right?
If I keep 20btc in an exchange like Coinbase before the split, after the split I will likely only get 20btc in the XT chian if the exchange choose the XT and I will not likely get 20btc in both chains.
Am I right?
Yes.
There will be no both. It's the longest chain or bust.
There will be the both. Proved by Terracoin, Bytecoin and others.If I keep 20btc in my Trezor before the split, after the split I should have 20btc in the original bitcoin chain and 20btc in the XT chian.
If I keep 20btc in an exchange like Coinbase before the split, after the split I will likely only get 20btc in the XT chian if the exchange choose the XT and I will not likely get 20btc in both chains.
Am I right?
So this will mean satoshis 1 million coins will become 2 million? so lets suppose everyone takes their bitcoin offline and doubles them this would mean there will be 42 million coins? This will surely destroy bitcoin if this happens or something similar happens.
Please read this.. it will explain what will happen when/if they go full derp ahead
http://wallstreettechnologist.com/2015/08/19/bitcoin-xt-vs-core-blocksize-limit-the-schism-that-divides-us-all/
if they keep the nonsense about logging people's IPs and banning vpns and Tor and they win, I will just walk away and leave Bitcoin
It wont be bitcoin than, it will be a profit coin for few people, If this happens i am clearly out of bitcoin as this destroys the purpose of what the bitcoin was created for.
Im just going to keep running old core. There are a lot of people who think like that.
Core is not going anywhere, it will run with less hashpower and you just have to wait for more confirmations in case of 51%. When the time comes and all these schmucks realize how shitty XT really is, They'll run back balling like one of your high school exs.
There will be no both. It's the longest chain or bust.
There will be the both. Proved by Terracoin, Bytecoin and others.If I keep 20btc in my Trezor before the split, after the split I should have 20btc in the original bitcoin chain and 20btc in the XT chian.
If I keep 20btc in an exchange like Coinbase before the split, after the split I will likely only get 20btc in the XT chian if the exchange choose the XT and I will not likely get 20btc in both chains.
Am I right?
So this will mean satoshis 1 million coins will become 2 million? so lets suppose everyone takes their bitcoin offline and doubles them this would mean there will be 42 million coins? This will surely destroy bitcoin if this happens or something similar happens.
if they keep the nonsense about logging people's IPs and banning vpns and Tor and they win, I will just walk away and leave Bitcoin
It wont be bitcoin than, it will be a profit coin for few people, If this happens i am clearly out of bitcoin as this destroys the purpose of what the bitcoin was created for.
There will be no both. It's the longest chain or bust.
There will be the both. Proved by Terracoin, Bytecoin and others.If I keep 20btc in my Trezor before the split, after the split I should have 20btc in the original bitcoin chain and 20btc in the XT chian.
If I keep 20btc in an exchange like Coinbase before the split, after the split I will likely only get 20btc in the XT chian if the exchange choose the XT and I will not likely get 20btc in both chains.
Am I right?
What I find interesting is that the assumption is that transaction values is what drives Bitcoin's price, in which case XT with 75% + wins and with that logic, everyone will go over to XT.
But, what about the fact that many people consider Bitcoin to be a store of value. I'll be honest, I don't much care about what I can buy with it at the moment, I prefer to use it at this time as a store of value. And I'm sure I'll be able to convert it to XT through an exchange when I want to spend my store of value.
What happens if XT gets 75% but core doesn't lose much of its value but XT does?
It could be the biggest financial f*ck up of the century, and early on in the century too.
Bitcoins value as a payment network is only one of its values. The others are being ignored.
Contrary to popular spin, it's entirely possible that XT Bitcoins could end up at the price of a Litecoin, while core Bitcoins retain a greater value.
Could go the other way too, though.
But, what about the fact that many people consider Bitcoin to be a store of value. I'll be honest, I don't much care about what I can buy with it at the moment, I prefer to use it at this time as a store of value. And I'm sure I'll be able to convert it to XT through an exchange when I want to spend my store of value.
What happens if XT gets 75% but core doesn't lose much of its value but XT does?
It could be the biggest financial f*ck up of the century, and early on in the century too.
Bitcoins value as a payment network is only one of its values. The others are being ignored.
Contrary to popular spin, it's entirely possible that XT Bitcoins could end up at the price of a Litecoin, while core Bitcoins retain a greater value.
Could go the other way too, though.
I have a feeling this will happen. But it'll take a few before people fully realize they got on the wrong side of the fence
What I find interesting is that the assumption is that transaction values is what drives Bitcoin's price, in which case XT with 75% + wins and with that logic, everyone will go over to XT.
But, what about the fact that many people consider Bitcoin to be a store of value. I'll be honest, I don't much care about what I can buy with it at the moment, I prefer to use it at this time as a store of value. And I'm sure I'll be able to convert it to XT through an exchange when I want to spend my store of value.
What happens if XT gets 75% but core doesn't lose much of its value but XT does?
It could be the biggest financial f*ck up of the century, and early on in the century too.
Bitcoins value as a payment network is only one of its values. The others are being ignored.
Contrary to popular spin, it's entirely possible that XT Bitcoins could end up at the price of a Litecoin, while core Bitcoins retain a greater value.
Could go the other way too, though.
But, what about the fact that many people consider Bitcoin to be a store of value. I'll be honest, I don't much care about what I can buy with it at the moment, I prefer to use it at this time as a store of value. And I'm sure I'll be able to convert it to XT through an exchange when I want to spend my store of value.
What happens if XT gets 75% but core doesn't lose much of its value but XT does?
It could be the biggest financial f*ck up of the century, and early on in the century too.
Bitcoins value as a payment network is only one of its values. The others are being ignored.
Contrary to popular spin, it's entirely possible that XT Bitcoins could end up at the price of a Litecoin, while core Bitcoins retain a greater value.
Could go the other way too, though.
No. I'll just stick it to the majority, either it being Core, XT, or whatever comes (whether I like it or not), under the risk of not being able to send/receive transactions and not being able to buy/sell goods to users of the longest/most accepted chain/chain with most hashrate.
You may get the both, check this guide - https://bitcointalksearch.org/topic/guide-surviving-the-fork-or-how-to-double-your-bitcoins-or-save-fiat-1157679.
May is the keyword
There will be no both. It's the longest chain or bust.
There will be the both. Proved by Terracoin, Bytecoin and others.
No. I'll just stick it to the majority, either it being Core, XT, or whatever comes (whether I like it or not), under the risk of not being able to send/receive transactions and not being able to buy/sell goods to users of the longest/most accepted chain/chain with most hashrate.
You may get the both, check this guide - https://bitcointalksearch.org/topic/guide-surviving-the-fork-or-how-to-double-your-bitcoins-or-save-fiat-1157679.
Nope. There will be only one winner because of the economic incentive.
I agree. And the same goes for most altcoins: they will be wiped out in some months or couple years.
Bitcoin IS the STANDARD.
Implemented in thousands and thousands of websites, accepted as well, it is the most widespread crypto, and it will remain like that.
Population inertia is a LARGE factor in money adoption.
Bitcoin blockchain buffer size will be changed when it will be needed.
Natural selection: XT will pop soon.
I think the core chain can survive, I'm not saying it would keep much of its value, but it is possible to still run it so therefore some hardcore ideologists will still use core. Most miners going over to XT would also mean Core blocks may be easier to make.
That seems like incentive enough. There are plenty of alts worth less than what coins from a usurped core chain would be worth, and miners still mine those.
I'm in the both camp.
That seems like incentive enough. There are plenty of alts worth less than what coins from a usurped core chain would be worth, and miners still mine those.
I'm in the both camp.
you can take bitcoin-core from my cold dead hands!
We thought that Bitcoin would be widely accepted and it's prices will reach the moon.
But there comes a nightmare commonly called "Bitcoin XT" and if it is accepted by more than 75% of the network, then Bitcoin will have no future according to me as Bitcoin XT is totally violating the principles of bitcoin core.
But there comes a nightmare commonly called "Bitcoin XT" and if it is accepted by more than 75% of the network, then Bitcoin will have no future according to me as Bitcoin XT is totally violating the principles of bitcoin core.
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