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Author Topic: How 2 Chainz Would Destroy Bitcoin  (Read 1306 times)
tvbcof
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August 25, 2015, 07:02:17 PM
 #21


When I wanted to get around Sear's Point as fast as I could, I used an RS125.

When I wanted to move 100 yards of earth from one part of my property to another, I used a dump truck.

(True stories by the way.)

An RS125 and a Ford F750 dump truck have morphological similarities in that they have an internal combustion engine which generates power that is transferred through a drive train to one or more wheels.  A dump truck could get around Sear's Point, and an RS125 could move some dirt.  It would be possible to devise a machine which balanced the two functions, but it would not make much sense.

Bitcoin, and more generally crypto-currency, is in it's infancy.  The basic morphology is there but not really that much more.  It would be a reasonable time to go ahead and fork to achieve different (and often mutually exclusive) goals most effectively.  At least there is a strong argument that this is the case as I see things.


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BitProdigy (OP)
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August 25, 2015, 07:12:47 PM
 #22


When I wanted to get around Sear's Point as fast as I could, I used an RS125.

When I wanted to move 100 yards of earth from one part of my property to another, I used a dump truck.

(True stories by the way.)

An RS125 and a Ford F750 dump truck have morphological similarities in that they have an internal combustion engine which generates power that is transferred through a drive train to one or more wheels.  A dump truck could get around Sear's Point, and an RS125 could move some dirt.  It would be possible to devise a machine which balanced the two functions, but it would not make much sense.

Bitcoin, and more generally crypto-currency, is in it's infancy.  The basic morphology is there but not really that much more.  It would be a reasonable time to go ahead and fork to achieve different (and often mutually exclusive) goals most effectively.  At least there is a strong argument that this is the case as I see things.

Yes but if you have a dump truck, and you want a RS125, you don't tear apart the dump truck and strip it down to it's basic moving parts in an attempt to create a RS125 out of the dump truck. What you have to realize is that a split of bitcoin affects the value of BOTH CHAINS, so it is effectively a threat to both.

If Bitcoin is evolving into something you don't want it to be, then start your own genesis block and keep the properties you like. Don't try to eat off of Bitcoin's plate because it is already established and is evolving in a directly you don't like. You harm Bitcoin if you split the chain for reasons I have already articulated.

You need a separate chain with a separate genesis block if you want to avoid undermining the Value Storage Property of bitcoin which is predicated on a HARD 21 Million cap limit.
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August 25, 2015, 07:20:09 PM
 #23


You need a separate chain with a separate genesis block if you want to avoid undermining the Value Storage Property of bitcoin which is predicated on a HARD 21 Million cap limit.

Funny, I don't feel that need.  Maybe in part because I have value buried deep in the chain Wink


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S4VV4S
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August 25, 2015, 07:22:54 PM
 #24

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"The only thing that matters is consensus." - Andreas Antonopoulos

There are several people that are hoping for Bitcoin to split into two different chains and they are promoting this as a way to "double your bitcoins". They are motivated by greed and free money and are in support of whatever it takes to split Bitcoin in half so they can "double their bitcoins".

You sure they're not joking about doubling their bitcoins for profit? I haven't seen anyone seriously advocating forking because they want more bitcoins. It's pretty obvious they would be devalued.

Only on the Core chain.
The XT chain (if it wins) will have knowledge of old and new coins so those coins will probably not be devalued.
Then again, the price depends on the buyers Wink
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August 26, 2015, 12:23:52 AM
 #25

Quote
"The only thing that matters is consensus." - Andreas Antonopoulos

There are several people that are hoping for Bitcoin to split into two different chains and they are promoting this as a way to "double your bitcoins". They are motivated by greed and free money and are in support of whatever it takes to split Bitcoin in half so they can "double their bitcoins".

You sure they're not joking about doubling their bitcoins for profit? I haven't seen anyone seriously advocating forking because they want more bitcoins. It's pretty obvious they would be devalued.

Only on the Core chain.
The XT chain (if it wins) will have knowledge of old and new coins so those coins will probably not be devalued.
Then again, the price depends on the buyers Wink

Yeah I just meant it is hard to see it being profitable, at least at first. In other words most likely that initially:

original core coins value ≥ core coins after fork + xt coins
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