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Author Topic: What does a BU split mean for average joe?  (Read 655 times)
mkc
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March 17, 2017, 10:30:39 PM
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I have one coin since two years ago.
If Bitcoin unlimited spilt, how will it affect me? Do I have a choice which way to go?
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March 17, 2017, 10:43:59 PM
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Of course you will have a choice. In case of a chain split, you don't have to do anything other than to keep doing what you always do. You will have one Bitcoin on your Core chain, and you will have one Bitcoin on the BU chain. Exchanges might list the two chains simultaneously to offer people a BTC and a BU trading pair. If you keep supporting Core and thus don't have any need for the coin you hold on the BU chain, you can decide to sell it for whatever its value will be (this won't affect your one coin that you have on the Core chain).
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March 17, 2017, 10:53:09 PM
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Do U mean my 1 coin will become two coins? I am giggling.
mkc
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March 17, 2017, 10:58:53 PM
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Will exchange give you two coins if your coin is in their address?
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March 17, 2017, 11:23:52 PM
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Do U mean my 1 coin will become two coins? I am giggling.

In a way, yes. In an unsuccessful hardfork, you will not have two coins on one chain,
but one coin on two viable chains. Both of these two separate chain coins will each
correspond to the same privatekey, that you control.

In the event of a hardfork that is 100% supported, then you will only have one viable coin.
The "two coins" only come about if "two chains" survive.


Will exchange give you two coins if your coin is in their address?

Depends on the exchange. See the policy of your exchange or ask them for clarification
in their support. They may be obligated by law within certain jurisdictions to provide you
both coins after a failed hardfork (two chain surviving fork). Some in some countries, may not.

I support a decentralized & unregulatable ledger first, with safe scaling over time.
Request a signed message if you are associating with anyone claiming to be me.
nanonymousx
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March 19, 2017, 07:02:36 AM
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Do U mean my 1 coin will become two coins? I am giggling.

In a way, yes. In an unsuccessful hardfork, you will not have two coins on one chain,
but one coin on two viable chains. Both of these two separate chain coins will each
correspond to the same privatekey, that you control.

In the event of a hardfork that is 100% supported, then you will only have one viable coin.
The "two coins" only come about if "two chains" survive.


Learning from ETH, it seems both chain survive as of now? I am wondering, such fork happened in the past, can I have reference?
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March 19, 2017, 07:16:52 AM
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https://img2.brain4.photobox.com/45213570bee40ff27e29c72174b91f5a97c8b4e27df2e77ae43667c8658064310e14f8c2.jpg
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