Is Bitcoin XT an alt-coin that rewards with free coins current bitcoin users?

[Snail2]

There is no such thing as 'free money' or a winner in this ...well ... except maybe LTC ...

Only God knows. Such a turmoil around BTC could inflate altcoin prices to "da moon" as a lot of people would use alts as "safe heaven", but a forked BTC network could bring down BTC prices to cents and that can drag down every other cryptoes as well for months or years.

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[harrymmmm]

Actually after the fork we are going to see interesting things as, as if I had 1 BTC before the fork I'll have 1 BTC and 1 XBTC after the fork with the same value. So, I can trade both for let's say LTC and when the war ended I'll have 2 BTC/XBTC worth LTC . Pretty straightforward way to double my holdings for free .  

You need to know how to do it though. Tricky to ensure your transaction gets executed on only one blockchain.

I think it's not quite so difficult, as after the fork the legacy BTC chain not going to accept blocks from the XT chain and vica versa.  However for a short time I think it will be possible to find exchanges on both chains... 25% of the current BTC network is still a huge market. So I just have to use the same pre-fork wallet file in a core and in an XT client. As there are no communication between the two networks these exchanges on different chains not going to know about my "double spending".

Your transaction will be broadcast to nodes of both networks. The addresses you use will be compatible. Mostly, your transaction will execute (appear in a block) on both chains.

[kelsey]

XT is an alt with huge premine 

[sdp]

A transaction on Core should be as valid as XT.   If there is another spam attack, the spam will all get into the XT chain but some will end up filling up the Core and getting confirmed at a later time than the XT chain.  In the end, your bitcoins that you don't move will stay in the same place.  

XT and core can run side by side until one accepts a block the other wont.  So, this fork would happen if an XT block creates a block longer than one megabyte.

Say, I move my 10 mBTC from my computer to my phone.  I include no transaction fee, and the blocks actually have exceeded the 1 MB size limit.   If this all that happens, a core miner might reject my transaction and leave it in its memory pool.  Then we have an inconsistent state.   Then there is a kind of two altcoins.  The core altcoin and the XT altcoin, and the bitcoins that are still consistent between both block chains.   My coins might turn into xt coins belonging to my phone and core coins that still belong to my computer but is waiting for it to confirm on core.  The block rewards on the two chains would be xt altcoins and core altcoins, 25 of each.  The market will have to decide what is the "true" bitcoin.

Yet as long as the coins don't get transacted after the fork, they will remain belonging to the same key pair on both chains.  Once we know who the winner is, we will be able to buy some cheap coins.

 sdp

[ElitistCA]

sorry I am very simple minded.

If I currently own 1 btc, does it mean that I also own one XT?
If I have BTC on exchange I dont own XT.
If I will buy 10 btc only next year I will not own XT at all.

Right?

[achow101]

sorry I am very simple minded.

If I currently own 1 btc, does it mean that I also own one XT?

Yes, but only after the fork happens, which at its earliest date is 1/11/2016

If I have BTC on exchange I dont own XT.

Unless that exchange is using both XT and Core, which is unlikely

If I will buy 10 btc only next year I will not own XT at all.

Only if the fork has happened. There is no guarantee the fork will happen by next year. But if it does happen and you buy 10 btc, then you probably won't have XT. It is possible for you to also get Xt if the inputs of the transaction for the 10 btc were from before the fork. If that happens, then you could have both XT and btc since the transaction would be valid on both chains.

Also, keep in mind that if the fork occurs with consensus, then it is very unlikely that any major exchanges, miners, or businesses will continue to use Bitcoin Core on the old chain and will then switch to the XT chain which will be called Bitcoin.

[iGotSpots]

The amount of misinformation in this thread alone, not to mention the massive amount of bullshit in other thread, is the exact reason that I, and many, many others, have lost all respect for Gavin and Mike, who both now have 0 credibility