BTU Coin Questions

[Thatstinks]

If a fork is successful and we end up with a BTU Coin, (BiTcoin Unlimited) what do we expect it's value to be and is it treated like an altcoin entirely? I ask because what is the separation process for dividing them off of the BTC?

Thank you

[1714855498]

1714855498

[1714855498]

1714855498

[jonald_fyookball]

Since it won't activate without a majority of hashing power, Bitcoin unlimited WILL be Bitcoin.  If a small minority continues to mine BlockstreamCoin, then you can ask what its value will be.

[FiendCoin]

Since it won't activate without a majority of hashing power, Bitcoin unlimited WILL be Bitcoin.  If a small minority continues to mine BlockstreamCoin, then you can ask what its value will be.

BTU will NEVER be Bitcoin, just a trash Chinacoin.

[Thatstinks]

See this is where I am confused, one person says it will never be or cannot happen, one says it is a duplicate that needs separating, one it will over take and BTU will be BTC and so on....

Lets not argue for a moment, let's assume that BTU is successful, what exactly does it mean, plain English please.

[AngryDwarf]

See this is where I am confused, one person says it will never be or cannot happen, one says it is a duplicate that needs separating, one it will over take and BTU will be BTC and so on....

Lets not argue for a moment, let's assume that BTU is successful, what exactly does it mean, plain English please.

If BU is successful, you will get real on-chain capacity implemented quicker. Bitcoin can start to grow again.
Core's scaling approach is going to take a lot longer to take effect. Bitcoin growth is going to be hampered for quite some time.

I think that is a fair objective assessment without going into the which solution is better debate.

[Vaskiy]

If a fork is successful and we end up with a BTU Coin, (BiTcoin Unlimited) what do we expect it's value to be and is it treated like an altcoin entirely? I ask because what is the separation process for dividing them off of the BTC?

Thank you

That won't be successful. It's been an effort made by the miners working with bitcoin unlimited but they were not able to fix a bug that's been done by the core developers.  It serves to be an temporary support as miners are found high sticking to it, this is just one miner.

[jonald_fyookball]

See this is where I am confused, one person says it will never be or cannot happen, one says it is a duplicate that needs separating, one it will over take and BTU will be BTC and so on....

Lets not argue for a moment, let's assume that BTU is successful, what exactly does it mean, plain English please.

Assuming that BU gets support of 75% of the hashing power and activates, it will then control the longest chain.  A few things could happen:

1.) Everyone just gets on board, -- the rest of the miners, merchants, end of story...

2.) 25% still mines the old coin....Now they are 2 coins.

if #2 happens, then you have three possibilities based on what the other non-mining investors and merchants do:

2a) If merchants and payment processors decide they don't like BU, and they are going to stick
to Bitcoin the way its been (with the 1mb block), and investors decide they don't want the BU coins, then
BU becomes worthless and miners will give up pretty soon on despite having initially supported it.

2b) the opposite of 2a:  investors and merchants no longer support the old coin, and the 25% mining power
quickly gives up.


...Or:

2c) SOME investors and merchants will support the new coin, some the old coin...and now you have
2 separate currencies much like happened to Ethereum.

If this last possibility happens and you own Bitcoins, you will now have double the coins.... one set
of each (one on each blockchain)...  You could then speculate on which will dominate by selling
the coins you think will become less valuable...or you can play it safe and just hold your coins
until the situation becomes more clear.

[AngryDwarf]

2c) SOME investors and merchants will support the new coin, some the old coin...and now you have
2 separate currencies much like happened to Ethereum.

In which case the market eventually works out which coin has the better utility value, once sentiment has eroded.

[AngryDwarf]

2c) SOME investors and merchants will support the new coin, some the old coin...and now you have
2 separate currencies much like happened to Ethereum.

If this last possibility happens and you own Bitcoins, you will now have double the coins.... one set
of each (one on each blockchain)...  You could then speculate on which will dominate by selling
the coins you think will become less valuable...or you can play it safe and just hold your coins
until the situation becomes more clear.

Perhaps one of the biggest risks in a bilateral split is that some actors might use there hated coins to spam that network. A bilateral split could get very ugly.

[Viscount]

UCC (Unlimited China Coin) drop below lightcoin 24 hours it splits. I'm just afraid not to manage to sell on time if I'm away from an exchange 

[ebliever]

There will be a rush to sell, because if you aren't one of the first to sell your BTUcoins you will not get anything for them. I suggest opening an account with a Chinese exchange (anyone know if that is possible for westerners?), as they may be more likely to support it there as long as they can while the bottom falls out elsewhere.

[Viscount]

first unlimited block size, second unlimited coins amount. Andressen or Ver wrote that they will increase amount of coins if they or their chinese host would like...

[ebliever]

There will be a rush to sell, because if you aren't one of the first to sell your BTUcoins you will not get anything for them. I suggest opening an account with a Chinese exchange (anyone know if that is possible for westerners?), as they may be more likely to support it there as long as they can while the bottom falls out elsewhere.

FYI, I signed up with OKcoin only to learn after registration that they cannot serve U.S. customers. I imagine it's likely to be the same with Huobi and the others, but can anyone confirm if there are any exceptions?

[jonald_fyookball]

first unlimited block size, second unlimited coins amount. Andressen or Ver wrote that they will increase amount of coins if they or their chinese host would like...

you got a link?  Or this is just pure bullshit?

[Anon TumbleBit]

The fight between hard fork and soft fork will harm bitcoin itself, and our money, I intend to signal SegWit.

[FiendCoin]

first unlimited block size, second unlimited coins amount. Andressen or Ver wrote that they will increase amount of coins if they or their chinese host would like...

you got a link?  Or this is just pure bullshit?

This can't be true? My god if they did said that... Please provide a link, outright lies should result in banishment from Bitcointalk.

[Killerpotleaf]

first unlimited block size, second unlimited coins amount. Andressen or Ver wrote that they will increase amount of coins if they or their chinese host would like...

you got a link?  Or this is just pure bullshit?

This can't be true? My god if they did said that... Please provide a link, outright lies should result in banishment from Bitcointalk.

Viscount is trolling

at this point everyone SHOULD know the BU != unlimited blocksize, but unlimited freedom.

[Killerpotleaf]

what is the separation process for dividing them off of the BTC?

if you hold a BTC private key,  this key will be valid on both chain
this will effectively double your coins, because, using that private key, you will use a BU client to move the coins on the BU chain,  and use a Core client to move the coins on the Core chain

[franky1]

non-core implementations have been running on bitcoins main net for a couple years and NOT signalled splitting, not signalled banning. they have only shown desire to stick to bitcoins main rule of consensus.

they will only grow when there is clear majority consensus of NODES AND POOLS.
and then even with majority the pools wont push the boat out unless the pools know the orphan risk is low and that the merchants and services that they can spend their rewards with are supporting what they produce.

so dont expect BU to cause a split intentionally.

thy have even laughed in gmaxwells face when he begged them to split.


all the dynamic and base block increase proposals are adaptable to each other and many diverse nodes can function together uniting the community. however blockstream(core) refuse to release an adapted codebase and instead have banscore and autoban stuff to orphan a block, a pool or node that dont meet blockstream(cores) biased rules.

meaning if a majority event happened where the nodes, pools and merchants were ready to go with dynamics. it would be blockstream(core) thats a minority, who will ban their opposition. causing blockstream(core) to self inflict themself into being a minority split by not preparing to join the majority and instead being the banners.

so knowing the majority of merchants nodes and pools are moving forward with dynamic blocks. people on the majority side can just use their native keys as normal and need to do nothing.

but if your on blockstream(core) minority, their ban-hammer event causes them to activate segwit on a minority whereby they are only seeing other segwit nodes/blocks. and as such.. to achieve any noticeable segwit features users will need to start moving funds to segwit keys.

with less hashpower meaning delayed block creation times and people moving funds to new keys causing mempool bloat. and possible 51% attacking the minority pools. extra bloat from replay attacks.. dont expect a smooth transition for the minority SWcoin.


also you can use your pre activation(native keys) on both chains but expect people to be either manually or scripting transactions on one network to be copied and pasted to the other side(replay attack).


now imagine you did safely move your coins on both side to protect yourself from cross network replay attack.
because the events of a dynamic chain having majority, hashpower and node/merchant count.. the SWcoin will be worth alot less.


also note if there was a segwit bug that required downgrading back to old software. the segwit keys become deactivated and any funds on segwit keys are locked.

also note if there was a dynamic bug. blocks are just made at under 1mb again and because dynamic implementations stick with using native keys, users just use their private keys as standard(no fuss).

[Kakmakr]

In my opinion the longest chain will be Bitcoin, no matter what happens in the future. The value of these coins will depend on the same principle that the coins value is determined now, namely : Supply & Demand. If this does happen, you might find some hardcore supporters selling off their coins, when their fork attempt failed.

Would you still support a Coin, that does not fit your needs or would you still run a node, if you do not support that code?