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Bitcoin => Bitcoin Discussion => Topic started by: wagabee london on August 21, 2015, 02:34:11 PM



Title: could bitcoin have different version?with different blockchains?
Post by: wagabee london on August 21, 2015, 02:34:11 PM
could bitcoin have different versión?with different blockchains?can bitcoin have bitcoin core and bitcoin xt?


Title: Re: could bitcoin have different version?with different blockchains?
Post by: BTCBinary on August 21, 2015, 02:41:57 PM
It is already happening... and I really don't know what will be the outcome...
I fear that nothing good can come out of this!


Title: Re: could bitcoin have different version?with different blockchains?
Post by: RGBKey on August 21, 2015, 02:49:50 PM
could bitcoin have different versión?with different blockchains?can bitcoin have bitcoin core and bitcoin xt?
That's what a fork in the blockchain is, when two different versions of the blockchain exist.


Title: Re: could bitcoin have different version?with different blockchains?
Post by: LiteCoinGuy on August 21, 2015, 02:51:52 PM
Quick ELI5:

Running XT at this time is equivalent with running Core. It's the same network, and the same Bitcoins. At some point in the future, if 75% mining majority is reached (but not before January 2016), the network will split whenever a miner creates a block larger than 1MB. This will not be accepted by Core unless they adopt a large blocks patch, but will be accepted by XT, and at this point there will effectively be two chains.

Running XT means that you will always be on the largest (75%+) chain, regardless of whether the fork actually happens or not. Running Core means that you will be left behind if a 75% majority is reached. Regardless of which version you run, coins will be safe (on both chains) as long as you acquired them prior to the fork, and for some time the chains will largely mirror each other.


Title: Re: could bitcoin have different version?with different blockchains?
Post by: K210 on August 21, 2015, 05:07:14 PM
could bitcoin have different versión?with different blockchains?can bitcoin have bitcoin core and bitcoin xt?

Take a look at peershares peercoin predicted this problem years ago


Title: Re: could bitcoin have different version?with different blockchains?
Post by: gentlemand on August 21, 2015, 05:09:50 PM
One chain will die very rapidly. Everyone wants to be on the winning side apart from a few nutters who will become an irrelevance within a few hours.

If it splits off into countless squabbly little chains the whole thing is over.


Title: Re: could bitcoin have different version?with different blockchains?
Post by: BTCBinary on August 22, 2015, 12:40:42 PM
One chain will die very rapidly. Everyone wants to be on the winning side apart from a few nutters who will become an irrelevance within a few hours.

If it splits off into countless squabbly little chains the whole thing is over.

and which chain do you think will be the winner?


Title: Re: could bitcoin have different version?with different blockchains?
Post by: gentlemand on August 22, 2015, 01:28:30 PM

and which chain do you think will be the winner?


Of the current choice? Dunno. I can well imagine Core will do something about scalability. Lots of people are meeting next month to discuss it. Everyone will still have coins no matter who wins. Whether they're worth much after all this screaming is another matter.