Bitcoin doubler...

[Come-from-Beyond]

...will be launched on the 1st of August. Are you happy with this?

[jackg]

...will be launched on the 1st of August. Are you happy with this?

It's more that two copies of the same bitcoin will be created (one with segiwt and one without). While it is needed to activate segwit, there should be a way created that completely destroyes the other bitcoin. As, now the limit to the number of bitcoin doubles (even though they're both two different currencies with one parent currency that exists in both of them). Is there yet a name for the other currency that will be created yet?

[jackg]

I can't say we will see "Bitcoin doubler" since one of the chain/block will have small value and support from community/miners/merchants. But, i think few people will use this chance to "double their money"
Also, other member found references for BTU price : https://coinmarketcap.com/currencies/bitcoin-unlimited/#markets

...will be launched on the 1st of August. Are you happy with this?

It's more that two copies of the same bitcoin will be created (one with segiwt and one without). While it is needed to activate segwit, there should be a way created that completely destroyes the other bitcoin. As, now the limit to the number of bitcoin doubles (even though they're both two different currencies with one parent currency that exists in both of them). Is there yet a name for the other currency that will be created yet?

I think minority chain/block will say their chain/block is the real bitcoin and insist to keep the name. Maybe exchange will use "Bitcoin (SegWit)" and "Bitcoin (non-Segwit) instead if this really happen.

It probably will happen that it will break into two blockchains, as I'm not sure how much hashpower will be behid the non-segwit bitcoin but all it takes it one core to be mining the currency (on an incompatable) segwit release and then thre will be the separate currency creasted (much less power and userbase behind it but still a separate chain) - and it doesn't take much to get that second chain running.
And obvously, people trying to maintain the original blockchain and keep that goin gare going to say that is it the real one so you are probably right with that way of differentiating the two currencies (based on the aomount of stuff on this forum on its own of people saying that segwit in bitcoin is an altcoin of the original currency).

[BCTBF]

Basically I do not know yet what it is bitcoin doubler, but it sounds will very profitable for us. But I wonder how it will work, whether it has a positive or negative impact on bitcoin for the future.

[mk4]

...will be launched on the 1st of August. Are you happy with this?

"Bitcoin doubler" is not the best term for this. Maybe use "bitcoin chain-split" instead? It's just more fitting. The terms "bitcoin doubler" are being used for scamming purposes.

Anyway, I don't like bitcoin being split into two, just because of the very possible and probably price crash. But if the hard fork is what we need for bitcoin to improve, then so be it.

[bouren]

Basically I do not know yet what it is bitcoin doubler, but it sounds will very profitable for us. But I wonder how it will work, whether it has a positive or negative impact on bitcoin for the future.

Bitcoin doubler here is sarcastic comparison between bitcoin split to be taken on August 1 and ponzi scams running out who promise doubling bitcoins in a day or two.
We can't say August 1 split will be profitable for us or not. No doubt, if you hold your bitcoin with your private keys then after August 1 you will have units of both coins but we can't assume at present whether commutative determined value of both coins after Aug 1 would even equal to present value of bitcoin or not. So all I could say is 'wait and watch with mix feeling'

[carlisle1]

still hoping that there would be no split that will happen but sure thing to have a double value in either way I got confused with the title and the OP
but looking to it and understand the real meaning I'm still positive that this won't split bitcoin, lets all wait and see then.

[jackg]

still hoping that there would be no split that will happen but sure thing to have a double value in either way I got confused with the title and the OP
but looking to it and understand the real meaning I'm still positive that this won't split bitcoin, lets all wait and see then.

Not sure there will be a split as clean as there being two mirrored coins of the same value. Bitcoin(SW) will probably be worth more than Bitcoin(non-SW) as the non segwit version will have higher tx fees than the regular bitcoin(SW) would.

[ChironRegera]

What are the pros of miners NOT adopting segwit come Aug 1? I'm not sure I understand why they would not want to adopt Segwit as it would speed up transactions significantly.

[Yakamoto]

...will be launched on the 1st of August. Are you happy with this?

A Bitcoin doubler, come on m8. The only way it gets doubled is if people (like you, presumably) act impotent and force businesses and people to keep using the chain that was forked away. If every exchange, every service, every business switches to the new chain then nothing would get doubled and we could go on our merry ways without having any issues like the one you're describing.

However we all know that people will be belligerent and we're just going to have to wait for everyone to give up trying to exploit the old chain.

[Come-from-Beyond]

A Bitcoin doubler, come on m8. The only way it gets doubled is if people (like you, presumably) act impotent and force businesses and people to keep using the chain that was forked away. If every exchange, every service, every business switches to the new chain then nothing would get doubled and we could go on our merry ways without having any issues like the one you're describing.

However we all know that people will be belligerent and we're just going to have to wait for everyone to give up trying to exploit the old chain.

Ever heard the story of ETH and ETC?

[odolvlobo]

Perhaps, you don't know that a "bitcoin doubler" (also called a "bitcoin multiplier") is a scam where a site promises to send you twice the bitcoins that you send to it.

Ever heard the story of ETH and ETC?

As for the fork, I have no doubts that the UASF fork will quickly wither away. Blocks will take forever to confirm and the value of the coins will drop to 0.

I was surprised that ETC was able to remain viable, but Ethereum is different from Bitcoin in many ways, so I don't expect the same thing to happen with Bitcoin.

[andron8383]

...will be launched on the 1st of August. Are you happy with this?

And this wa y we will burn bitcoin Value proposition as currency that canot be printed at will and we will break promis that it can be MAX 21m in total.
How you will comercial BTC to friends it ? Bitcoin is good and they will telll ya "F. off  it can be printed like any fiat currency now you have 42m BTC limit."

THis is BS to me.

[jackg]

What are the pros of miners NOT adopting segwit come Aug 1? I'm not sure I understand why they would not want to adopt Segwit as it would speed up transactions significantly.

Other than the fact that if you're the only miner there you get a guarenteed 12.5BTC(nonSW) token each time and if it is worth enough then you can get a good earning from it.
Also, if you an get the other network functioning as well as a duplicate of the coin then the transaction speed increases to doulbe the time because there are then two BITCOIN blocks that can be mined (just one has segwit and one doesn't) - so the speed increases even more.

In addition, there's the thought that any addition of segwit is a production of an altcoin and the other currency is the "traditional" Bitcoin - even though there have been several ammendments to this coin already.

[jackg]

...will be launched on the 1st of August. Are you happy with this?

And this wa y we will burn bitcoin Value proposition as currency that canot be printed at will and we will break promis that it can be MAX 21m in total.
How you will comercial BTC to friends it ? Bitcoin is good and they will telll ya "F. off  it can be printed like any fiat currency now you have 42m BTC limit."

THis is BS to me.

This is exactly the case. Unless the other coin completely sinks (but that is greatly unlikely).
The previous 21m btc limit is completely gone and been replaced by a 42m limit (even though there are differences between the coins and one will be more expensive than the other).

[thiec]

...will be launched on the 1st of August. Are you happy with this?

And this wa y we will burn bitcoin Value proposition as currency that canot be printed at will and we will break promis that it can be MAX 21m in total.
How you will comercial BTC to friends it ? Bitcoin is good and they will telll ya "F. off  it can be printed like any fiat currency now you have 42m BTC limit."

THis is BS to me.

This is exactly the case. Unless the other coin completely sinks (but that is greatly unlikely).
The previous 21m btc limit is completely gone and been replaced by a 42m limit (even though there are differences between the coins and one will be more expensive than the other).

there still one main coin as bitcoin, the loser will turn out to be alt coin like others.
since there are so many alt coin, its wont different if we add one more LOL

[jackg]

...will be launched on the 1st of August. Are you happy with this?

And this wa y we will burn bitcoin Value proposition as currency that canot be printed at will and we will break promis that it can be MAX 21m in total.
How you will comercial BTC to friends it ? Bitcoin is good and they will telll ya "F. off  it can be printed like any fiat currency now you have 42m BTC limit."

THis is BS to me.

This is exactly the case. Unless the other coin completely sinks (but that is greatly unlikely).
The previous 21m btc limit is completely gone and been replaced by a 42m limit (even though there are differences between the coins and one will be more expensive than the other).

there still one main coin as bitcoin, the loser will turn out to be alt coin like others.
since there are so many alt coin, its wont different if we add one more LOL

That is true, but there's debate as to which the altcoin is?
Is it the current Bitcoin or is it the SegWitted Bitcoin? Large mining compnies have proitibility to not accept segwit, if enough people keep the other coin going and they are at similar rates, they may supply equal power to both coins.

Whichever the altcoin is (probably the non seg witted one) it'll just turn into another altcoin that gets pumped and dumped continuously.

[marlonjhon]

There is a lot of uncertainty about what will happen on the first of August. I think is too hasty the hardfork, what will be called the new currency, and the old?

[xFiber]

The idea of two seperate chains of bitcoin is quite silly and might look very fishy for the public. Therefore I hope bitcoin will remain in it's current state (chain wise obviously).

[hahay]

About this I have mixed feelings. I still will wait until everything is clear, because I do not have any feeling what will happen after 1st of August. Hopefully this is not something creepy.