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Author Topic: About to start mining - how will hardfork affect me??  (Read 831 times)
couture
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April 02, 2017, 04:33:09 PM
 #1

Hi all,


A friend of mine and I are just about to start mining (aiming to jump in with an S9 and grow from there)

After reading a lot of posts about the hard-fork situation... I am still a little confused as to what this really means, what the outcomes will be, and how it will affect a new miner..


If anyone can explain it in a slightly more crypto-noob friendly way I would be most appreciative.

I have read that if you have 10BTC you would also have 10BTU??
Im confused about how this would affect the difficulty?
Would I be mining BTC or BTU?
Do i choose? Does the pool choose?
Stores that currently accept bitcoin - would they still take bitcoin? Would they take bitcoin unlimited? Are they the same? Does one supersede the other? Is it just like an additional coin like an altcoin?

Ahh!

Thankyou Smiley
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tubexc
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April 02, 2017, 05:56:22 PM
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They are different services that revolve around BTC.
You should not worry about it.  Grin
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April 03, 2017, 05:48:39 AM
 #3

if you had 10 btc prior the network split you would end with 10 BU after the split, but the exchange would still listen it as altcoin

the you just keep mining whatever fork you support, and get your regular profit, you can't mine double the amount if that what you think...
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April 04, 2017, 02:52:52 AM
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Ideally you should point your miner/s to a pool that is more decentralized like Slush's pool or kanos pool. Also pools like Slush pay tx fees to miners. Antpool I believe does not pay transaction fees out to miners. This is also why they seemingly are not supporting segwit, as they are making $100,000's everyday from increased transaction fees. Also doesn't make sense because if bitcoin scales transaction fees will go up.
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April 04, 2017, 04:49:49 AM
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I have read that if you have 10BTC you would also have 10BTU??
Im confused about how this would affect the difficulty?
Would I be mining BTC or BTU?
Yep, however much BTC you have you would have an equal amount of BTU.  The difficulty will be affected based on how many people are mining each chain and we can't predict this outcome (or what exactly the price would be of each strain or whether it's profitable).
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Do i choose? Does the pool choose?
You choose, but the pool is deciding whether to support the hard fork - so if you're mining in a pool that supports it, your miner will be contributing to it happening and it is likely that the pool would be a pool for BTU in the future (you could always join a BTC pool).
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Stores that currently accept bitcoin - would they still take bitcoin? Would they take bitcoin unlimited? Are they the same? Does one supersede the other? Is it just like an additional coin like an altcoin?
Stores that accept Bitcoin would take whatever they choose.  I doubt that any small merchants would take BTU and I think most will stick with BTC, but that's just my opinion.

They aren't the same but they are based on the same thing to put it lightly, so BTU would kind of be a development of BTC which supports bigger blocks/miners choosing to change the block size at will (which I disagree with).  Some people say it's an altcoin as it is a separate coin from BTC which is mined separately, but it isn't, of course, the same as an altcoin as it has to be supported by a large amount (over half and most likely over 75%) of the hash rate (computing power for mining).

I hope that was clear enough.  Don't worry though, it might not happen at all.
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