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suchnoob
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August 19, 2015, 10:56:17 PM
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Will Bitcoin XT be traded as a new coin separate from btc?
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The Bitcoin Forum is turning 10 years old! Join the community in sharing and exploring the notable posts made over the years.
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August 19, 2015, 11:00:09 PM
 #2

Will Bitcoin XT be traded as a new coin separate from btc?

no, XT is just fork of core with some added features like BIP: 101 (incerase block size), BTC will remain same and there will be no new coin, if this XT madness will even happen.

BIP101: https://github.com/gavinandresen/bips/blob/fd99a8ce04dbad96fb275e0300a7ee669e70f418/bip-0101.mediawiki

more info is here: https://github.com/bitcoinxt/bitcoinxt/blob/master/README.md

so no worries, I was also confused, but only way how to understand is at least little bit is reading and reading of sources posted above.

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August 20, 2015, 04:39:13 AM
 #3

to keep it short, without making anyone complicated.

its nothing with how bitcoin will be in another form if thats to question your thought, everything will be the same.

Its just when it splits, the traditional speed for wallet users that dont have xt will probably huge delay in speeds.
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August 20, 2015, 07:50:07 AM
 #4

The complete existence of the XT project and disagreement of the bitcoin heads had made a lot of people question the future of bitcoin, and If media hypes up something like this, it could damage the already tarnished image of btc and also question its authenticity, which is the last thing bitcoin needs, because it will create a huge hurdle for btc to gain adoption, when people are already associating it with crime and money laundering
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August 20, 2015, 07:59:20 AM
 #5

to keep it short, without making anyone complicated.

its nothing with how bitcoin will be in another form if thats to question your thought, everything will be the same.

Its just when it splits, the traditional speed for wallet users that dont have xt will probably huge delay in speeds.

Which speed your referring, is it transferring bitcoins from one account to anther account speed? Thanks
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August 20, 2015, 08:38:05 AM
 #6

to keep it short, without making anyone complicated.

its nothing with how bitcoin will be in another form if thats to question your thought, everything will be the same.

Its just when it splits, the traditional speed for wallet users that dont have xt will probably huge delay in speeds.

Which speed your referring, is it transferring bitcoins from one account to anther account speed? Thanks
IMO it should be the synchronizing speed (downloading block chain) due to the increased blocksize.

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AtheistAKASaneBrain
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August 20, 2015, 12:07:19 PM
 #7

Only if the XT nodes go 75% the fork will happen and there will be effectively 2 different coins "core coin" and "xt coin". Of course by then the other coin would be worthless so no chance to trade them.
I hope Core wins, XT sounds like a disgrance to BTC.
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August 20, 2015, 01:34:43 PM
 #8

Only if the XT nodes go 75% the fork will happen and there will be effectively 2 different coins "core coin" and "xt coin". Of course by then the other coin would be worthless so no chance to trade them.
I hope Core wins, XT sounds like a disgrance to BTC.
Fork will only happen when 75% of hashing power is on Bitcoin XT. Nodes can be faked easily with VPSes etc..
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August 20, 2015, 02:22:27 PM
 #9

Bitcoin XT supports BIP 64, and so it supports looking up entries in the UTXO database given an outpoint (a transaction id and output index pair).
This can be useful for contracts based applications.
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August 20, 2015, 02:27:58 PM
 #10

Only if the XT nodes go 75% the fork will happen and there will be effectively 2 different coins "core coin" and "xt coin". Of course by then the other coin would be worthless so no chance to trade them.
I hope Core wins, XT sounds like a disgrance to BTC.
Fork will only happen when 75% of hashing power is on Bitcoin XT. Nodes can be faked easily with VPSes etc..

What if they don't reach 75% by 11th January 2016 , they will drop the project forever ?? because they said they should have hashing power before the 11th and not sure why that date specifically .

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August 20, 2015, 02:39:58 PM
 #11


What if they don't reach 75% by 11th January 2016 , they will drop the project forever ?? because they said they should have hashing power before the 11th and not sure why that date specifically.


I think we'll know what's what long before then. Not only does it have to reach 75% but it also needs to maintain above that for two weeks before anything else happens.

If it's nowhere by then I guess the world will have voted with their feet. XTers can make all the proposals they like but I think it'll be a one shot deal. Future offerings are likely to be ignored if core has done something to appease current annoyances.

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August 20, 2015, 04:01:33 PM
 #12

Only if the XT nodes go 75% the fork will happen and there will be effectively 2 different coins "core coin" and "xt coin". Of course by then the other coin would be worthless so no chance to trade them.
I hope Core wins, XT sounds like a disgrance to BTC.
Fork will only happen when 75% of hashing power is on Bitcoin XT. Nodes can be faked easily with VPSes etc..

What if they don't reach 75% by 11th January 2016 , they will drop the project forever ?? because they said they should have hashing power before the 11th and not sure why that date specifically .

I don't think they are going to give up as easy, specially if they are close to 75% by 11th January 2016, they will try to keep pushing more and more propaganda in hopes to get more and more people running their nodes, if they finally cant make it then they will start giving up.
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August 20, 2015, 04:11:51 PM
 #13

IF there was a another face to get bitcoin xt - then what would the current holders for the core would be? lol.

It wouldnt make any sense, to have 2 faces of bitcoin representing different wallets.

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August 20, 2015, 10:43:38 PM
 #14

The complete existence of the XT project and disagreement of the bitcoin heads had made a lot of people question the future of bitcoin, and If media hypes up something like this, it could damage the already tarnished image of btc and also question its authenticity, which is the last thing bitcoin needs, because it will create a huge hurdle for btc to gain adoption, when people are already associating it with crime and money laundering
Open source & Democracy, Anyone can change variables. No need to ask permission. If your idea is viable it could become popular enough.
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August 20, 2015, 11:51:33 PM
 #15

If there is enough hash power on XT, the fork will occur and this will bring down the price of bitcoin. I am against this XT thing. There has already been a drop in price because of this stuff and I am hoping this dies off so it will bring the price of bitcoin back up.

Signatures? How about learning a skill... I don't care either way. Everybody has to make a living somehow.
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August 21, 2015, 12:37:06 AM
 #16

Regardless of technology background, XT is a bad move. It demonstrated that it is easy to create a potential fork candidate without reaching enough consensus, and try to lobby/lure others to join their fork to do a take over later on. If this kind of practice succeeded, it will become a daily business for core devs to fork into their own version and lobby the miners to drive the bitcoin into their direction: If you can convince 75% of the miners to go for your fork, then you will get what you want, regardless of what other participants in the bitcoin ecosystem like

A major consensus will naturally form when there is really a problem, e.g. block size is not big enough and many users start to complain, it does not require early action like XT, since you only need to change one line in the code to increase the block size



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