Will you use old Bitcoin if XT wins?

[Dire]

IF XT reaches the 75% supermajority, Core will absolutely, positively adopt BIP 101 (or an alternative which is compatible with > 1MB blocks, such as BIP 102)

You can of course continue to run 1-MB-Cap-Core if you choose.  Bear in mind, though, that this is not the first hard fork.  Users who are running Bitoin Core from 2 years ago are on an alt-chain, just as you will be if you choose to stick with the Core version you have today. (Again, IF XT reaches 75%)

It could still be argued that XT is the alt chain. It even has a new name and branding, which never happened before. This huge schism also didn't happen before. Bitcoin's value comes from consensus, is that consensus based on its fast transaction utility or it's store of value? You can buy things with Bitcoin now, Bitcoin isn't broken.

Even if 75% is reached, it can't be 100% sure that the Bitcoin core chain won't retain its own value and consensus. To say otherwise would necessitate the use of crystal ball 2.0 technology.

That's not to say that the odds of higher value wouldn't rest with XT, because it probably would (assuming the 75%)... but the swathes of people who are hoped to come to Bitcoin are still some years away. There are still many in the Bitcoin world who have educated themselves on the technology enough to know that XT hasn't been tried and tested yet. Why wouldn't they hedge their bets so to speak?

XT needs to pretty much totally eradicate core, but if core still keeps a 'hardcore' group value (sorry for the pun) what's to stop core going to the exchanges as a group and saying 'Hey, we've got nodes, we want representation, and we're called 'Bitcoin', not XT, not Bitcoin fudge, just Bitcoin, and we can prove it.

Many exchanges have alts that are worthless (Correction: virtually worthless) and questionable in their existence, yet the exchanges still list them, will they turn away Bitcoin core that still has value - and considerably more value than the vast majority of alts?

Bitcoins value comes from consensus first, and yes, one of the reasons for that consensus was its use as a transaction ledger for payments, but it wasn't the only one. Ideology played a large part, as does store of value that can't be messed with... yet it is true to say that XT messes with the idea of that store of value.

I can only see that logically it'll pay to hold value in both chains and wait and watch. Yet if a group of us does that (which this poll can be seen to show will at this current time) then core retains value, and if it retains value read above.

The XT discussion is a circle essentially, because the consensus value of Bitcoin itself is circular in nature.

[crazywack]

That's a hard question.... Theologically I would say core but economically I would say XT. I guess I would HODL both, 1 for moral reasons and 1 for less than moral. I would assume that in a fork most merchants and exchanges would switch as it would make more sence. In this case the Money would follow XT in the long run while killing most the value in both in the short term.

[Dire]

That's a hard question.... Theologically I would say core but economically I would say XT. I guess I would HODL both, 1 for moral reasons and 1 for less than moral. I would assume that in a fork most merchants and exchanges would switch as it would make more sence. In this case the Money would follow XT in the long run while killing most the value in both in the short term.

I pretty much agree with you, on both reasons, theologically and economically. Long run, XT. highly likely. But that short term store of core value can certainly grow and there's no exact way to know that new adopters won't look into the whole XT thing themselves and see the same things we do, that perhaps the core chain is more secure.

Where money is concerned people often choose security over innovation, and ironically enough, Bitcoin (core) might end up as just that. Not saying it will though, but it's theoretically possible.

[ummina]

i will use XT if many people use too.
nevertheless, old bitcoin is more love than XT, i think.

[slaveforanunnak1]

This is what I see happening:



1. XT Is out everyone!! Herpa Derp! 75% lets jump on the Gav coin (peace be up on his name)
2. Two chains live on for a while, with core having much less hashing power. (potential for double spends, whatevs.. wait for 20 confirmations for expensive shit)
3. After a little while all the schmuck's who jumped on Shitcoin-xt start to see signs of even more centralization, black/white listing and other types of fuckary
4. Smart ones panic and sell, and dumb ones get stuck holding a bag of Shitcoin-xts   
5. True BTC gets the nodes/hashing power back
6. we all live on happily ever after without mike and gavin (peace be up on his name) and they can go hang out with magical tux.

[Possum577]

You won't have a choice. It's up to the miners, the exchanges, and the core developers. It sounds like sticking with bitcoin core is like staying with CDs when the world was moving to MP3s and digital media.

It's not up to us lowly users...

From a Coindesk article:
Who's in favour?

Besides Andresen, Hearn and a few other Core developers – who, tangentially, disagree with the "drastic" and "dangerous" methods of XT – bigger blocks in general have received support from a number of large bitcoin service providers.

Pretty much all of bitcoin's wallets are on board, including Coinbase, Blockchain.info and Xapo, with the exception of CoinKite and GreenAddress. For them, the continued cheap use of the blockchain is a necessity.

Exchanges outside of China have been rather quiet on the subject, while those inside the country, like the mining pools, have publicly backed a 8MB increase.

When Genesis Mining — a large pool with farms across Asia Europe, and the US — took a poll of its users in June, 87% agreed that an increase was a "good idea".

However, the question of whether miners and pools will support that increase in the form of XT, a fork of Bitcoin Core, remains. It currently has 13.7% of bitcoin's nodes behind it.

In an interview in June, China's three largest pools – F2Pool, BTCChina Pool and Huobi Pool – indicated they would not switch to XT, but rather strive for consensus. They present more than 35% of the current hash rate.

[mamafii]

no, i'm not. i still use old bitcoin.
if any queation from all of you, i will say "CAuse i have pleasant with old bitcoin"
so, why i should to change it..

[irfan01]

i will use XT if many people use too.
nevertheless, old bitcoin is more love than XT, i think.

I think you have a point
I may also be used if many are using it 

[LiteCoinGuy]

LITECOIN!

hell YEAH! ...but we are talking about Bitcoin here, Litecoin has not that kind of problem 

[Kprawn]

Well, If Wladimir implement a quick upgrade to 8mb blocks... a lot of people would shift back to Core. I think there are a lot of people who wants bigger block sizes, but they do

not want all of the other code sneaked into XT. If XT is crowned "King of the coin" .... I would sell and walk away like the rest... We do not need another government controlled

currency, with dictatorship leaders. I will most probably shift to another Crypto currency serving my needs.  

[BTCPOOLMINING]

Of course I will use bitcoin core, I don't care about XT, I will always with official bitcoin core and XT won't win the game we all know this

[aakashsangwan]

Of course I will use bitcoin core, I don't care about XT, I will always with official bitcoin core and XT won't win the game we all know this

Yes of course we all know that bitcoin XT will never win.
that's why we all are buying bitcoins instead of panic selling them.
And i advice other members also to do the same.

[Come-from-Beyond]

Yes of course we all know that bitcoin XT will never win.
that's why we all are buying bitcoins instead of panic selling them.
And i advice other members also to do the same.

Hehe, noone will fall for this trick. The trend is obviously negative these days.

[aakashsangwan]

Yes of course we all know that bitcoin XT will never win.
that's why we all are buying bitcoins instead of panic selling them.
And i advice other members also to do the same.

Hehe, noone will fall for this trick. The trend is obviously negative these days.

hmmm so you say that you will sell bitcoins at this low to cut your losses.
then it's ok , i don't mind because it's your money. But don't cry after watching the prices rising again.
My motto was to guide members and i've done that and it's upto them weather to dump their coins at low or buy more coins at low prices.

[Come-from-Beyond]

But don't cry after watching the prices rising again.

Only 2 questions:
- Why will the prices go up again?
- Did you write "prices" meaning the price of Bitcoin and the price of XT?

[hasmukhrawal]

Well i think bitcoin XT will be better than bitcoin.
Everyone may start using bitcoin XT.and if it wins then i may go for XT

[zebedee]

Laughably meaningless vote written by likely equally clueless drone.  Move on.

[zebedee]

If XT wins i will be on a double spending spree for atleast 24 hours.

If XT won I'm sure you'd have no idea what was going on.  No way do you have the intelligence to double spend, because those that do don't talk about it lightly.

You'd far more likely be a victim than a winner.

[Carlton Banks]

If XT wins, i would sell all my bitcoin for altcoin/fiat than using XT
But, i think XT won't win

You can sell the XT version of your coins, and keep the Bitcoin version. If they were on the blockchain before the fork happened in January, you will have coins on both side of the fork.

[Come-from-Beyond]

Laughably meaningless vote written by likely equally clueless drone.  Move on.

Thank you for your competent opinion. "Donator" tag next to your name clearly shows your agenda.