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Author Topic: bitcoin unlimited?  (Read 1718 times)
Idrisu
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March 24, 2017, 03:12:46 PM
 #21

The impact of Bitcoin unlimited will be not good for Bitcoin. Because, the gridlock on scalling is putting of peoples. Here the only strong BTC holders will stay and survive. A lot time BTC expert or traders will ignore the bad impact.
I also think it will affect bitcoin negative especially when they motive is political. Bitcoin unlimited is created to bring bitcoin price down and it influences in crypto currencies market. What I know about bitcoin is that it has passed through alot of stage and it's market capitalization is very high so we expect it to keep going stronger.

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March 24, 2017, 03:26:14 PM
 #22

Yes price of BU and BTC both drops first by 50% and then the strong chain will eventually recover back on track. seems like market is reacting with strong stance opposing BU.

It is unlikely that both will drop by exactly 50%. What matters is how much of BTC is dumped on exchanges and how much of BTU is dumped on exchanges. I expect both supporters to get into an all out war.  Smiley

Still, it is a different type of speculation because people are not showing any interest toward BU. Already BTC was dumped on exchanges due to BU propagation, everything will depend on time, whether it is possible to split Bitcoin into BU. This news makes some people not comfortable with Bitcoin.


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March 25, 2017, 01:23:48 AM
 #23

Proponents say it would fix the current problems we are having now with transactions. People seem to have different ways of trying to fix it. Being on the non-techie side, I can only cross my fingers that this don't ruin bitcoin completely.


if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel

Bitcoin unlimited was not yet launched and thus we cannot feel the impact of the coins existence as of this moment. Though bitfinex is already selling   BCU or bitcoin unlimited but according to some users here in this forum the Hardfork was not yet working at this moment. Thus I submit to believe that if BU code had started to work then we can already feel the strong impact today.

What, they're about to fork today? How would this affect us who only have coins in local exchanges? From what I've read in the forum, users would get similar amounts of BTC and BTU in their wallets. (I suppose that would be for everyone with a software wallet).

My advise would be to remove your coins from those exchanges until the threat of hard forking has passed.

Why risk your bitcoin on an exchange when the warning has been announced of a split like this happening.
That would be just a stupid thing to take a chance of that happening.

OK, I will. I'd start reading more about software wallets. I've never though about them before since I don't even have a full bitcoin yet. Here's my problem though, my phone and laptop are kinda old and quite laggy, would I be able to like, back them up online or something? I might have to root my android again, it keeps coming up with this storage full message despite my sd card having 80% of its space free.

Anyway, thanks for reminding me.
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March 25, 2017, 02:24:07 AM
 #24

Bitcoin Bitcoin core unlimitid will make the price go down. of course this will make a protest because a lot of people who deviate bitcoin at a high price and will bitcoin price drops. I myself do not agree with bitcoin unlimitid


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May 06, 2017, 02:12:55 PM
 #25

Bitcoin is not unlimited, as you might think.

The limit of Bitcoin to only supply up to its maximum cap amount may be said to be a strategy to elevate its value time after time. Since Bitcoins value rely strongly on the Principle of Supply and Demand, it should have a limit so as to keep up with the ever-changing times.

Bitcoins are strongly affected by its demand in the market, and having said so, its scarcity does wonders as to its conversion, making investors and traders alike more eager to hold on to their Bitcoins.   
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May 06, 2017, 04:44:51 PM
 #26

if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel


If it happens then there will be great competition between 2 coins, and the effect is there will be a drop in the price of bitcoin because of the bu
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May 06, 2017, 06:44:15 PM
 #27

Proponents say it would fix the current problems we are having now with transactions. People seem to have different ways of trying to fix it. Being on the non-techie side, I can only cross my fingers that this don't ruin bitcoin completely.


if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel

Bitcoin unlimited was not yet launched and thus we cannot feel the impact of the coins existence as of this moment. Though bitfinex is already selling   BCU or bitcoin unlimited but according to some users here in this forum the Hardfork was not yet working at this moment. Thus I submit to believe that if BU code had started to work then we can already feel the strong impact today.

What, they're about to fork today? How would this affect us who only have coins in local exchanges? From what I've read in the forum, users would get similar amounts of BTC and BTU in their wallets. (I suppose that would be for everyone with a software wallet)

What do you mean by local exchanges?

Are they some unknown to a wider world places where you can exchange your local currency to Bitcoin and vice versa? If so, I wouldn't hope that you will receive the same amount of BTU in addition to your stash of bitcoins, though at larger exchanges like Bitfinex, that may well be the case. On the other hand, when Ethereum had been split, Coinbase didn't create another wallet for each holder of this coin, i.e. they basically stole the forked coins
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July 16, 2017, 11:47:43 PM
 #28

I'm actually excited to see, what's going to happen. Though, it scares me - at the same time.
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July 17, 2017, 12:02:56 AM
 #29

I am not really excited to see the split at all, this incident will caused the price to go down sharply and the dominance of Bitcoin will be gone, Bitcoin unlimited will makes the transaction become faster but I am afraid Bitcoin splitting will makes both of the bitcoins become weak and then it will be replaced by other coin, at that point Bitcoin value will be decreasing a lot

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July 17, 2017, 03:31:50 AM
 #30

I am not really excited to see the split at all, this incident will caused the price to go down sharply and the dominance of Bitcoin will be gone, Bitcoin unlimited will makes the transaction become faster but I am afraid Bitcoin splitting will makes both of the bitcoins become weak and then it will be replaced by other coin, at that point Bitcoin value will be decreasing a lot
I think BTU in hitbtc and bitfinex just for checking the psychological of trader and create panic for market. But in few weeks ago have some news about Bitcoin can split to more network: Bitcoin Unlimit, Bitcoin Core, Bitcoin ABC (Bitmain HardFolk) ... make me scared the future of Bitcoin in short time


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July 17, 2017, 04:10:26 AM
 #31

I am not really excited to see the split at all, this incident will caused the price to go down sharply and the dominance of Bitcoin will be gone, Bitcoin unlimited will makes the transaction become faster but I am afraid Bitcoin splitting will makes both of the bitcoins become weak and then it will be replaced by other coin, at that point Bitcoin value will be decreasing a lot
I think BTU in hitbtc and bitfinex just for checking the psychological of trader and create panic for market. But in few weeks ago have some news about Bitcoin can split to more network: Bitcoin Unlimit, Bitcoin Core, Bitcoin ABC (Bitmain HardFolk) ... make me scared the future of Bitcoin in short time
Actually, I do not think that today you need to be afraid of Bitcoin. The fact is that today this is the chance that enables many users of the crypto currency to buy Bitcoin at a cheaper price and after a while you can have a very good income from these purchases.

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July 20, 2017, 02:23:19 PM
 #32

Bitcoin is unlimited. Of course the faster the transaction is done but until now I have not felt the impact. The question is if bitcoin is so infinite whether it can give a positive for economic development. Because with the infinite bitcoin of course there will be things that can harm. Such as his example can be exploited by people who seek a gap to do the negatip thing. I think one side of it will worsen the economy. Certainly to overcome such a thing. There needs to be technically made. Or arrangements made so that no one exploits bitcoin for unfavorable purposes





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September 30, 2017, 04:19:29 PM
 #33

In the BU system, node operators can choose the blocksize limit they vote on by modifying their client via a GUI menu and miners choose to increase or decrease the blocksize according to what nodes are voting on. This would, in theory, create a system where Bitcoin scales according to the space needed to accommodate the transactions in the network which is prone to keep growing like Bitcoin’s popularity and user base.
This system allows users to choose the maximum block size they want to accept as valid. However, there is a user-configurable failsafe mechanism that allows users to accept a block larger than the limit they have previously set if the number of blocks above this limit reaches a certain number. This system ensures that no users are accidentally left behind.
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September 30, 2017, 05:11:47 PM
 #34

if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel

which is sure all the transactions will be quickly processed, because the number is more stout transported in a block
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September 30, 2017, 05:45:21 PM
 #35

if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel

That was a good experience! Because we all know that bitcoin has a limited source so that sometimes the value varies to it if the demand would higly rising. And I think if the bitcoin source is unlimited the price would be rather rising only and no dumping and I think that will be very amazing and awesome.

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September 30, 2017, 06:15:47 PM
 #36

if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel

That was a good experience! Because we all know that bitcoin has a limited source so that sometimes the value varies to it if the demand would higly rising. And I think if the bitcoin source is unlimited the price would be rather rising only and no dumping and I think that will be very amazing and awesome.

And I think that the price on the contrary will fall. It will become like a centralized currency, which can be printed in unlimited quantities. Bitcoin is valuable in that its amount is limited

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October 01, 2017, 03:54:15 AM
 #37

Bitcoin is a worldwide peer-to-peer electronic cash system, known for low and predictable transaction fees, reliable confirmation times, and useable instant transactions. Unfortunately, because many network nodes continue to enforce a limit on the size of blocks which is below today's demand (the current limit corresponds to roughly 3 transactions per second), fees have risen, backlogs of transactions have formed, and confirmation times have become erratic. A smaller number of nodes have even adopted replace-by-fee policies to permit double-spending of transactions stuck due to the backlogs, which has produced the regrettable side effect of making instant Bitcoin transactions less secure.
Bitcoin Unlimited will be activated when the majority of the miners signal their approval. The fact that a simple the majority of miners can dictate the longest chain (and that the longest chain "wins") is the fundamental truth of Bitcoin's "Nakamoto Consensus" mechanism. Bitcoin Unlimited recognizes this. Although you may have heard that Segregated Witness (SW) activates at a 95% vote, this activation level is simply a convention. The truth is that if 51% of the miners wanted a change, they could simply mine only the changed blocks, and reject all unchanged blocks. Since 51% is the majority of the miners, the changed chain would be the longest, and therefore the "winner".
To bootstrap this new digital currency, it takes investors like you willing to hold bitcoin through the ups and downs of its price action. You want to be rewarded for that risk. By supporting Bitcoin Unlimited you are supporting our objective to return control over Bitcoin's evolution back to the market and our efforts to enable node operators to lift the block size limit that is presently restricting transaction volumes. By removing this limit, Bitcoin's user base will be free to grow, and with it its market capitalization.
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October 01, 2017, 06:35:28 AM
 #38

Bitcoin Unlimited uses a protocol called Emergent Consensus.
It involves two miner-controlled parameters: EB "Extension Block", which is the size of the block the miner wants to vote for, and AD "Admittance Depth", which is how strongly the miner wants to vote for his or her EB - specifically, if the number of consecutive blocks whose EB is not equal to the miner's EB is less than AD, then the miner will not build on top of that chain.
It's the "not build on top of that chain" bit that's rather bad. Consider two groups of miners each with plurality of the hashrate. If one group votes EB=1 AD=999 and the other group votes EB=2 AD=999, then you can have chain splits where each group mines exclusively. Such chain splits can persist for 999 blocks.
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October 01, 2017, 06:52:16 AM
 #39

if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel

That was a good experience! Because we all know that bitcoin has a limited source so that sometimes the value varies to it if the demand would higly rising. And I think if the bitcoin source is unlimited the price would be rather rising only and no dumping and I think that will be very amazing and awesome.
this is what we use from bitcoin investments, because the limited amount of bitcoin will cause the bitcoin price to be high, the fewer bitcoin left in the mine will be the point where bitcoin prices are so high, even if bitcoin enthusiasts remain numerous,
these are all investors' expectations

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nicster551
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October 01, 2017, 08:07:40 AM
 #40

if true unlimited later bitcoin was received, whether the benefits of influential for us / impact we will feel

That was a good experience! Because we all know that bitcoin has a limited source so that sometimes the value varies to it if the demand would higly rising. And I think if the bitcoin source is unlimited the price would be rather rising only and no dumping and I think that will be very amazing and awesome.
this is what we use from bitcoin investments, because the limited amount of bitcoin will cause the bitcoin price to be high, the fewer bitcoin left in the mine will be the point where bitcoin prices are so high, even if bitcoin enthusiasts remain numerous,
these are all investors' expectations
Yes because of the limited supply of bitcoin they can encouraged more investors to invest and make it valuable. The demand is also high because bitcoin is useful for everyone who wanted to earn a good income.

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