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big_daddy
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October 05, 2018, 09:25:11 AM |
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There could be a new coin if a part of the community continues mining on the legacy (before the fork) chain. The fork is going to invalidate blocks mined by equipment that is currently holding ~45% of the hashrate, I don't see this mining equipment just going to trash and miners using it just accepting to throw away their now main-chain-useless miners, so in my opinion, there is a very high chance the legacy chain will be maintained hence giving birth to a new coin.
Keep in mind that, unlike , for example, Bitcoin Cash, Sia coin has very special purpose, and for that purpose team that would make new coin would also have to build software for storage network, too Otherwise they'd mine coin that noone actually needs My understanding is that the sia client version 1.3.5 will support the legacy chain, and that legacy chain users are always welcome as long as they hold siafunds. Regardless, mining a coin that no one needs wouldn't be a first, and there will always be people/bots ready to trade it as long as it's on an exchange ... Wow, this is a very interesting predicament. It's going to be interesting to follow and see what comes of it. It seems that if there will still be two different chains, but only one product (the new Sia Coin that is created), how will the previous chain hold value? I understand that traders will want to continue to trade it, but how would investors view it? I think that then the original chain coin would need to proceed with its own abilities, technologies, project, etc. for it to survive as the market cap and value will then be moved to the new Sia Coin chain. Thus destroying the value of the original Sia Coin chain. Interesting, indeed. mimagneto If I understand correctly, there will be no new coin creation, there will be the same SC with another algo, right? So why are You writing about the "old"Sia and "new"Sia coin? |
If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.
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mimagneto
Member
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Activity: 235
Merit: 10
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October 05, 2018, 09:42:23 AM |
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There could be a new coin if a part of the community continues mining on the legacy (before the fork) chain. The fork is going to invalidate blocks mined by equipment that is currently holding ~45% of the hashrate, I don't see this mining equipment just going to trash and miners using it just accepting to throw away their now main-chain-useless miners, so in my opinion, there is a very high chance the legacy chain will be maintained hence giving birth to a new coin.
Keep in mind that, unlike , for example, Bitcoin Cash, Sia coin has very special purpose, and for that purpose team that would make new coin would also have to build software for storage network, too Otherwise they'd mine coin that noone actually needs My understanding is that the sia client version 1.3.5 will support the legacy chain, and that legacy chain users are always welcome as long as they hold siafunds. Regardless, mining a coin that no one needs wouldn't be a first, and there will always be people/bots ready to trade it as long as it's on an exchange ... Wow, this is a very interesting predicament. It's going to be interesting to follow and see what comes of it. It seems that if there will still be two different chains, but only one product (the new Sia Coin that is created), how will the previous chain hold value? I understand that traders will want to continue to trade it, but how would investors view it? I think that then the original chain coin would need to proceed with its own abilities, technologies, project, etc. for it to survive as the market cap and value will then be moved to the new Sia Coin chain. Thus destroying the value of the original Sia Coin chain. Interesting, indeed. mimagneto If I understand correctly, there will be no new coin creation, there will be the same SC with another algo, right? So why are You writing about the "old"Sia and "new"Sia coin? In theory, the old Sia Coin chain with it's algorithm Blake2b, and many, many ASIC miners will be left with nothing to mine. So in theory, instead of heading to the garbage dump, miners will decide to continue to keep the blockchain alive. Hence the "old" SiaCoin on the old algorithm will remain alive. The "new" Sia Coin will now be a completely different blockchain on a different algorithm, so hence we now have two Sia Coins. This is all theory, and based on perception as stated previously. We have yet so see what actually develops. Or am I understanding incorrectly? mimagneto |
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big_daddy
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October 05, 2018, 10:05:22 AM |
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There could be a new coin if a part of the community continues mining on the legacy (before the fork) chain. The fork is going to invalidate blocks mined by equipment that is currently holding ~45% of the hashrate, I don't see this mining equipment just going to trash and miners using it just accepting to throw away their now main-chain-useless miners, so in my opinion, there is a very high chance the legacy chain will be maintained hence giving birth to a new coin.
Keep in mind that, unlike , for example, Bitcoin Cash, Sia coin has very special purpose, and for that purpose team that would make new coin would also have to build software for storage network, too Otherwise they'd mine coin that noone actually needs My understanding is that the sia client version 1.3.5 will support the legacy chain, and that legacy chain users are always welcome as long as they hold siafunds. Regardless, mining a coin that no one needs wouldn't be a first, and there will always be people/bots ready to trade it as long as it's on an exchange ... Wow, this is a very interesting predicament. It's going to be interesting to follow and see what comes of it. It seems that if there will still be two different chains, but only one product (the new Sia Coin that is created), how will the previous chain hold value? I understand that traders will want to continue to trade it, but how would investors view it? I think that then the original chain coin would need to proceed with its own abilities, technologies, project, etc. for it to survive as the market cap and value will then be moved to the new Sia Coin chain. Thus destroying the value of the original Sia Coin chain. Interesting, indeed. mimagneto If I understand correctly, there will be no new coin creation, there will be the same SC with another algo, right? So why are You writing about the "old"Sia and "new"Sia coin? In theory, the old Sia Coin chain with it's algorithm Blake2b, and many, many ASIC miners will be left with nothing to mine. So in theory, instead of heading to the garbage dump, miners will decide to continue to keep the blockchain alive. Hence the "old" SiaCoin on the old algorithm will remain alive. The "new" Sia Coin will now be a completely different blockchain on a different algorithm, so hence we now have two Sia Coins. This is all theory, and based on perception as stated previously. We have yet so see what actually develops. Or am I understanding incorrectly? mimagneto will be great if one of the devs will answer here to clear this question marks.... |
If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.
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kaicrypzen
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October 05, 2018, 10:46:26 AM |
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will be great if one of the devs will answer here to clear this question marks....
Devs can not provide an answer concerning the continuation of mining on the legacy chain ... Simply put, a chain lives as long as there are people mining (on) it. A chain lives means that there is a coin. So, either the non-obelsik miners stop mining and then the legacy chain will die, or they continue mining and it will live. Obelisk miners will mine on the hard forked chain (the new main chain). Given the fact that I don't think non-obelsik miners will be willing to throw away their equipment, it's highly probable they will continue mining on the legacy chain. |
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mimagneto
Member
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Activity: 235
Merit: 10
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October 05, 2018, 10:54:07 AM |
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will be great if one of the devs will answer here to clear this question marks....
Devs can not provide an answer concerning the continuation of mining on the legacy chain ... Simply put, a chain lives as long as there are people mining (on) it. A chain lives means that there is a coin. So, either the non-obelsik miners stop mining and then the legacy chain will die, or they continue mining and it will live. Obelisk miners will mine on the hard forked chain (the new main chain). Given the fact that I don't think non-obelsik miners will be willing to throw away their equipment, it's highly probable they will continue mining on the legacy chain. Lmao, that's exactly what I was thinking bro. It' going to be interesting to watch as things unfold. Perhaps they'll rethink the algorithm switch and not hurt so many miners that invented their money just to mine Sia Coin and now are left with nothing. Or perhaps someone can create a worthwhile new Cryptocurrency on Blake2b algorithm, and then miners can switch to this new coin. mimagneto |
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boomboom
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October 05, 2018, 09:36:38 PM |
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will be great if one of the devs will answer here to clear this question marks....
Devs can not provide an answer concerning the continuation of mining on the legacy chain ... Simply put, a chain lives as long as there are people mining (on) it. A chain lives means that there is a coin. So, either the non-obelsik miners stop mining and then the legacy chain will die, or they continue mining and it will live. Obelisk miners will mine on the hard forked chain (the new main chain). Given the fact that I don't think non-obelsik miners will be willing to throw away their equipment, it's highly probable they will continue mining on the legacy chain. Lmao, that's exactly what I was thinking bro. It' going to be interesting to watch as things unfold. Perhaps they'll rethink the algorithm switch and not hurt so many miners that invented their money just to mine Sia Coin and now are left with nothing. Or perhaps someone can create a worthwhile new Cryptocurrency on Blake2b algorithm, and then miners can switch to this new coin. mimagneto I would bet that we'll end up with two coins after the fork, but only one decentralised storage app that inherits the project name of SIA, all crypto history suggests the old asic miners will continue mining and traders and bots will have a new speculating coin to play with. After the komodo swap btcd literally had no functioning wallet , no devs, and no user community, but btcd traded on poloniex for over a year as a zombie coin. We should expect a sia zombie coin to do pretty well! |
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Branko
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October 05, 2018, 10:02:24 PM |
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will be great if one of the devs will answer here to clear this question marks....
Devs can not provide an answer concerning the continuation of mining on the legacy chain ... Simply put, a chain lives as long as there are people mining (on) it. A chain lives means that there is a coin. So, either the non-obelsik miners stop mining and then the legacy chain will die, or they continue mining and it will live. Obelisk miners will mine on the hard forked chain (the new main chain). Given the fact that I don't think non-obelsik miners will be willing to throw away their equipment, it's highly probable they will continue mining on the legacy chain. There will be only one chain, not two Sia will still be blake2b coin https://blog.sia.tech/sia-fork-faqs-c6b3e0e73ce0 |
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Searing
Copper Member
Legendary
Offline
Activity: 2898
Merit: 1464
Clueless!
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October 06, 2018, 05:52:18 PM |
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will be great if one of the devs will answer here to clear this question marks....
Devs can not provide an answer concerning the continuation of mining on the legacy chain ... Simply put, a chain lives as long as there are people mining (on) it. A chain lives means that there is a coin. So, either the non-obelsik miners stop mining and then the legacy chain will die, or they continue mining and it will live. Obelisk miners will mine on the hard forked chain (the new main chain). Given the fact that I don't think non-obelsik miners will be willing to throw away their equipment, it's highly probable they will continue mining on the legacy chain. There will be only one chain, not two Sia will still be blake2b coin https://blog.sia.tech/sia-fork-faqs-c6b3e0e73ce0yeah, but I'm still betting the other 4/5's of all blake2b miners which are NOT obelisk's will fork to a new coin. Likely just go with the old chain and call themselves 'Siacoin Classic' would be my bet as the most likely. It is that or they are all Doorstops on Nov 1st, 2018. That won't happen. brad |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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boomboom
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October 06, 2018, 10:49:20 PM |
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will be great if one of the devs will answer here to clear this question marks....
Devs can not provide an answer concerning the continuation of mining on the legacy chain ... Simply put, a chain lives as long as there are people mining (on) it. A chain lives means that there is a coin. So, either the non-obelsik miners stop mining and then the legacy chain will die, or they continue mining and it will live. Obelisk miners will mine on the hard forked chain (the new main chain). Given the fact that I don't think non-obelsik miners will be willing to throw away their equipment, it's highly probable they will continue mining on the legacy chain. There will be only one chain, not two Sia will still be blake2b coin https://blog.sia.tech/sia-fork-faqs-c6b3e0e73ce0yeah, but I'm still betting the other 4/5's of all blake2b miners which are NOT obelisk's will fork to a new coin. Likely just go with the old chain and call themselves 'Siacoin Classic' would be my bet as the most likely. It is that or they are all Doorstops on Nov 1st, 2018. That won't happen. brad Siacoin classic is almost a certainty, people don't like losing money, and setting up a pointless coin isn't exactly frowned upon in the crypto world, the miners with obsolete hardware can either lose money or start a new coin with almost zero effort, all they need is a good meme, their community is already here. I say good luck, Doge 2.0 |
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jameswell
Member
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Activity: 122
Merit: 10
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October 07, 2018, 08:40:44 PM |
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Although I am running a sync'ed Sia-UI wallet, most of my SC is in Bittrex. I guess there will be a "Sic-Classic coin" post the fork, and in order to be able to get those coin, I think it is better to transfer the SC from the exchange to the wallet, in case Bittrex does not support the legacy SC.. |
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Searing
Copper Member
Legendary
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Activity: 2898
Merit: 1464
Clueless!
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October 07, 2018, 08:55:14 PM |
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Although I am running a sync'ed Sia-UI wallet, most of my SC is in Bittrex. I guess there will be a "Sic-Classic coin" post the fork, and in order to be able to get those coin, I think it is better to transfer the SC from the exchange to the wallet, in case Bittrex does not support the legacy SC.. probably a good idea...others should note this..thou..it maybe a month or so after the Oct 31st fork, before anything like this may come to pass.. brad |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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DeepestOnion
Newbie
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Activity: 62
Merit: 0
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October 09, 2018, 02:14:39 PM |
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There could be a new coin if a part of the community continues mining on the legacy (before the fork) chain. The fork is going to invalidate blocks mined by equipment that is currently holding ~45% of the hashrate, I don't see this mining equipment just going to trash and miners using it just accepting to throw away their now main-chain-useless miners, so in my opinion, there is a very high chance the legacy chain will be maintained hence giving birth to a new coin.
Keep in mind that, unlike , for example, Bitcoin Cash, Sia coin has very special purpose, and for that purpose team that would make new coin would also have to build software for storage network, too Otherwise they'd mine coin that noone actually needs Exactly, a new fork coin would be totally hilarious unless someone would build up the infrastructure to provide the same storage facility as SIA. People get so much lost into the crypto casino that they totally forget the reasons of the various coins to exist - at least they should remember that for the coins which actually have have a well defined reason to exist. |
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Lunaluk
Member
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Activity: 240
Merit: 10
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October 09, 2018, 02:28:11 PM |
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SIA my expected project, it's not that does not last forever, to replace the old comes something new and it's just Sia, with new proposals and innovations. The project is doomed to success so I will wait for the release of the coin for further investment. When does the coin sale start?
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big_daddy
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October 09, 2018, 02:41:21 PM |
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SIA my expected project, it's not that does not last forever, to replace the old comes something new and it's just Sia, with new proposals and innovations. The project is doomed to success so I will wait for the release of the coin for further investment. When does the coin sale start?
There is no coin sale start This is not an ico SC is listed already on major exchanges Just google it |
If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.
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gawlea
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October 09, 2018, 05:29:16 PM |
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SIA my expected project, it's not that does not last forever, to replace the old comes something new and it's just Sia, with new proposals and innovations. The project is doomed to success so I will wait for the release of the coin for further investment. When does the coin sale start?
There is no coin sale start This is not an ico SC is listed already on major exchanges Just google it Don't bother with him, I think is just a predefined post where the author changes the name of the coin. Just look at his previous posts, all are the same in essence, all are awesome and all captured his attention. |
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daftfunk
Newbie
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Activity: 21
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October 10, 2018, 05:12:21 PM |
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Are we going to have x2 coins with the fork ? If yes, will Binance give the forked coins?
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jameswell
Member
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Activity: 122
Merit: 10
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October 11, 2018, 03:56:20 AM |
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Are we going to have x2 coins with the fork ? If yes, will Binance give the forked coins?
I guess it is better to transfer the SC to your own wallet/SIA-UI. As long as you own the private key, you should be able to extract any future forked coin. Do not count on the exchanges. |
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chup
Sr. Member
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Activity: 736
Merit: 262
Me, Myself & I
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October 11, 2018, 06:38:20 AM |
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Exactly, a new fork coin would be totally hilarious unless someone would build up the infrastructure to provide the same storage facility as SIA. People get so much lost into the crypto casino that they totally forget the reasons of the various coins to exist - at least they should remember that for the coins which actually have have a well defined reason to exist.
Well, million $ hardware that can't mine anything else is way better defined reason for existence than thousands of other coins has. |
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adaseb
Legendary
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Activity: 3752
Merit: 1709
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October 11, 2018, 07:32:36 AM |
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Yes its true that SIA mine have tons of hash power after the fork and the forked coin might provide some value but it depends on developement in my opinion.
I honestly don't think Bitmain is capable of providing developement for SIA, unless they recruit some 3rd party developers.
Most likely it will have value at the beginning and then it will slowly dwindle down when people notice that the forked coin is going nowhere.
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