Coindesk: If hardfork with BTU, major exchanges will list it as an Alt Coin

[kurbeks]

The support for Bitcoin Unlimited is not significant at this time:
https://coin.dance/blocks

30+% is very significant. The adoption curve is even more significant.

Curve is more significant becuase Antpool started to signal BTU nodes. Once 1000 blocks have been found since they went BTU adpotition will stall unless other chinese pools follow.

[gentlemand]

Curve is more significant becuase Antpool started to signal BTU nodes. Once 1000 blocks have been found since they went BTU adpotition will stall unless other chinese pools follow.

There's plenty of other avenues left such as Bitmain selling machines to you only on condition that you mine BTU. Rather sad that one little fella has this much influence.

I wonder if it really did reach that point whether they'd have the balls to take the plunge or not. The more hysterical everything gets the more likely it is I suppose.

[digaran]

I suppose after them seeing their altcoin price drops to $200 and below they will eventually discard that chain and rejoin the main chain but if hard fork happens difficulty will decrease almost by 55% and as a result price will drop 60%+ but now that I'm thinking, what if BU miners upgrade to SW?
Whatever SW miners are going to get then they will get the same thing.

[alexeft]

I suppose after them seeing their altcoin price drops to $200 and below they will eventually discard that chain and rejoin the main chain but if hard fork happens difficulty will decrease almost by 55% and as a result price will drop 60%+ but now that I'm thinking, what if BU miners upgrade to SW?
Whatever SW miners are going to get then they will get the same thing.

Price is not dependent on hashing power. It's the other way around.

[kurbeks]

I suppose after them seeing their altcoin price drops to $200 and below they will eventually discard that chain and rejoin the main chain but if hard fork happens difficulty will decrease almost by 55% and as a result price will drop 60%+ but now that I'm thinking, what if BU miners upgrade to SW?
Whatever SW miners are going to get then they will get the same thing.

All miners will just migrate back to BTC pools. Except those poor souls which are bought rigs at hashnest

[uki]

Interesting times ahead. As always in Bitcoin, take everything with a grain of salt. The more volatile the price is, the more aggressive news campaigns pops up.
Exaggerated news, that after month or two do not seem important at all. Just wait.

[alexeft]

Now that I am thinking of it, BTC will have half the hash power, but so will BU LOL!!! 

We all will have a sssssssssssslow month!!!


I mean ROFL! Those BU people must be really stupid!

[FiendCoin]

Now that I am thinking of it, BTC will have half the hash power, but so will BU LOL!!! 

We all will have a sssssssssssslow month!!!


I mean ROFL! Those BU people must be really stupid!

Fanatic devotion to a lost cause, Classic, XT and now BTU. One has to wonder if these supposed supporters of BTU really have any money on the line?

[travwill]

The way things are it is a really bad case of lose-lose.

Even if there is no split if BU nodes stay at 30+% or even get greater, that will leave massive uncertainty hanging over the network, due to potential problems like the crash-bug exploited a couple of days ago.

Can someone explain what happens with BU blocks that are mined now? Are they inserted into the BTC blockchain as normal?

No, they are treated like orphans with no reward.

[alexeft]

The way things are it is a really bad case of lose-lose.

Even if there is no split if BU nodes stay at 30+% or even get greater, that will leave massive uncertainty hanging over the network, due to potential problems like the crash-bug exploited a couple of days ago.

Can someone explain what happens with BU blocks that are mined now? Are they inserted into the BTC blockchain as normal?

No, they are treated like orphans with no reward.

Thanks!

So, one chain lives on one client and the other chain only lives on the other client.

[alexeft]

Now that I am thinking of it, BTC will have half the hash power, but so will BU LOL!!! 

We all will have a sssssssssssslow month!!!


I mean ROFL! Those BU people must be really stupid!

Fanatic devotion to a lost cause, Classic, XT and now BTU. One has to wonder if these supposed supporters of BTU really have any money on the line?

Oh well, some people only learn the hard way!

[flash10101]

When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?

[FiendCoin]

When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?

They claim 75% but they could fork off at 51% I believe.

[Lauda]

When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?

They claim 75% but they could fork off at 51% I believe.

Incorrect. You can fork off at any amount of hashrate, even 0%. BU has no activation mechanism, as soon as a miner creates a block > 1 MB, it will begin.
FYI: This is what happens when you go around both the developers, economic and user consensus. BTU is per definition an altcoin, more specific, a shitcoin that I don't want to be holding. The first exchange that picks it up is the one that I'm going to dump it on.

[alexeft]

I can see a future where BU has a lot of transactions for coffee buying, where only one huge datacenter can host its blockchain...........but then...........it's not much different from the banks we have now, is it?

Thanks Mike Hearn but I didn't come to bitcoin for you to become my banker.

[alexeft]

I read a Mike Hearn's article (don't have a link now), and it said that once the fork has happened, the two chains would mingle with one another, they would fork and then become one and then fork again etc. Does anyone have any knowledge on that?

[FiendCoin]

When would a hardfork actually happen? If BU gets support > 50%? Or what is the trigger condition?

They claim 75% but they could fork off at 51% I believe.

Incorrect. You can fork off at any amount of hashrate, even 0%. BU has no activation mechanism, as soon as a miner creates a block > 1 MB, it will begin.
FYI: This is what happens when you go around both the developers, economic and user consensus. BTU is per definition an altcoin, more specific, a shitcoin that I don't want to be holding. The first exchange that picks it up is the one that I'm going to dump it on.

I believe they said they would not fork until 75% and at 51% they could prevent transactions of their choosing from gaining any confirmations, thus making them invalid, potentially preventing people from sending Bitcoins between addresses. They could also reverse transactions they send during the time they are in control (allowing double spend transactions), and they could potentially prevent other miners from finding any blocks for a short period of time. Thus causing a lot of mayhem.

Although technically they could fork at any time, they want to control Bitcoin or damage it if possible so the thresholds for these things are 75 and 51% to the best of my knowledge.

[jjacob]

I read a Mike Hearn's article (don't have a link now), and it said that once the fork has happened, the two chains would mingle with one another, they would fork and then become one and then fork again etc. Does anyone have any knowledge on that?

No, the 2 forks can't mingle with each other and then fork again.
What you could have is transactions on one chain inadvertently being replicated on the other chain as well. This was a problem in the ethereum fork as well.

[kurbeks]

I can see a future where BU has a lot of transactions for coffee buying, where only one huge datacenter can host its blockchain...........but then...........it's not much different from the banks we have now, is it?

Thanks Mike Hearn but I didn't come to bitcoin for you to become my banker.

There are 100 and 1 alts for this and whom all would be better than this than BTC fork.

[Marma Kalari]

Curve is more significant becuase Antpool started to signal BTU nodes. Once 1000 blocks have been found since they went BTU adpotition will stall unless other chinese pools follow.

There's plenty of other avenues left such as Bitmain selling machines to you only on condition that you mine BTU. Rather sad that one little fella has this much influence.
I wonder if it really did reach that point whether they'd have the balls to take the plunge or not. The more hysterical everything gets the more likely it is I suppose.

Is it even remotely possible for bitmain to ask the seller to mine only BTU,how can that be possible for a product in which they sell.Since they have a major opinion in the mining world and bitcoin as a whole they might have thought that majority will stick with them and make mining a monopoly and it is good to see that exchanges are joining hands to combat that threat.