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Question: Come August 1st bitcoin will fork into SegWit2x and Bitcoin Cash - How do you see bitcoin on August 15th, after the dust settles. The two coins, Bitcoin SegWit2x (I will call it BTS for SegWit) and Bitcoin Cash (I will call it BTL for libertarian)
BTS will be the only surviving chain, BTL will die fast due to lack of hash power - 37 (39.8%)
BTS and BTL will coexist but BTL will have a lower value, like ETC and ETH - 35 (37.6%)
They will coexist but be priced similarly - 1 (1.1%)
SegWit will fail and BTL will be the true bitcoin - 6 (6.5%)
BTS and BTL will both have a similar value - 2 (2.2%)
Bitcoin will collapse and will take down the rest of the ALT coins with it - 5 (5.4%)
The two chains will bring more value to bitcoin and all the ALT coins will benefit from increased exposure - 7 (7.5%)
Total Voters: 93

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Author Topic: Poll: What do you think will happen with bitcoin in August after the fork  (Read 2722 times)
Kwelstr (OP)
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July 26, 2017, 10:56:50 PM
 #1

Some people that are not living under a rock know that bitcoin is going to hard fork come August first. After two weeks, when the dust settles we should have more clarity on the results of this split of the blockchain. I want to poll all BitcoinTalk members to see their perspective on this fork. Do you see gloom and doom or do you see opportunity and exciting times coming.

Please vote so we can have a sample of the community.

¯\_(ツ)_/¯

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July 27, 2017, 12:57:40 AM
 #2

Anyone can make their own fork and claim that that their little fork will be a huge event. This is silly. I think Bitcoin cash is very small.
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July 27, 2017, 01:12:52 AM
 #3

Just a correction: Bitcoin is NOT going to fork 1 Aug. Maybe someone is going to create their own fork (BCC or whatever) which is something that can happen any day. I could just make a "fork" right now, you too.


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July 27, 2017, 02:08:19 AM
 #4

Is the fork will happen in August 1? I don't think so. I think the thing that will happen in august 1 is the split of bitcoin. And some bitcoin will not get accepted in some instances. Well sometimes when I think of it I think it as a FUD. For some people to rejoice in buying.

 
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July 27, 2017, 02:14:42 AM
 #5

OP, why do you not want to call them for what they really are? BTC and the altcoin BCC? There is no need to hide the truth from the people in the forum that BCC is an altcoin.

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Kwelstr (OP)
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July 27, 2017, 02:34:59 AM
 #6

OP, why do you not want to call them for what they really are? BTC and the altcoin BCC? There is no need to hide the truth from the people in the forum that BCC is an altcoin.

Because I wanted to be fair and impartial, both blockchains will be different from the one we have now, they both implement changes, the core supports SegWit2x and a small group of rebels support bitcoin cash. So on August 1st we will have a fork with 2 different versions of bitcoin, not a bitcoin and an altcoin, regardless of who gets to keep the BTC symbol.

¯\_(ツ)_/¯

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July 27, 2017, 02:46:02 AM
 #7

Reading the many responses on this topic is making me more confused. I am just an ordinary guy holding a little amount of Bitcoin and I am essentially on the dark as to what can happen this coming August 1. Will there really be a fork or a split in Bitcoin or is this fork just a negligible decision of a group of miners which will eventually not affect the whole Bitcoin?

I have been reading about Bitcoin Cash too and I understand that it can be a new altcoin bearing the name Bitcoin but this will not have any major effect on the real Bitcoin. Now, if I have some Bitcoin left in a well-known exchange will it mean that my coin is automatically lost or it depends on how that exchange will protect their members' funds?

Things are really mired in the mud right now as we are all just expressing my ideas and opinions here and it seems that nobody can speak with certainty on what can be. Must be another manifestation on Bitcoin's decentralized set-up.
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July 27, 2017, 03:21:04 AM
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in my opinion, for a while bitcoin will down like the first start, altcoin will be the real alternative coin and replace bitcoin for a while until bitcoin get the balance. and maybe need several  month to be normal again

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July 27, 2017, 03:25:09 AM
 #9

Reading the many responses on this topic is making me more confused

That's probably the intention. Trying to promote this BCC altcoin by pretending that it is the alternative to the SegWit2x hard fork that is to come around October. Really the classic Bitcoin will just be Bitcoin, or the people who don't update their clients to BTC1 or whatever they'll call it. The real fork and panic is the October SegWit2x hard fork not this little altcoin attempt.
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July 27, 2017, 03:32:21 AM
 #10

That's the issue people have with Segwit.  Once you go Segwit, you can't go back because all transactions done under Segwit (and all blocks/forks after Segwit) will become invalid without the centralized Segwit nodes validating the transaction.  This will forever give the validating Segwit nodes power over Bitcoin's destiny.  And it'll only take less than 6 years for a wallet developer (ie: Bitcoin Core) to centralize and completely usurp Satoshi's vision.


Reading the many responses on this topic is making me more confused. I am just an ordinary guy holding a little amount of Bitcoin and I am essentially on the dark as to what can happen this coming August 1. Will there really be a fork or a split in Bitcoin or is this fork just a negligible decision of a group of miners which will eventually not affect the whole Bitcoin?

I have been reading about Bitcoin Cash too and I understand that it can be a new altcoin bearing the name Bitcoin but this will not have any major effect on the real Bitcoin. Now, if I have some Bitcoin left in a well-known exchange will it mean that my coin is automatically lost or it depends on how that exchange will protect their members' funds?

Things are really mired in the mud right now as we are all just expressing my ideas and opinions here and it seems that nobody can speak with certainty on what can be. Must be another manifestation on Bitcoin's decentralized set-up.
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July 27, 2017, 03:57:12 AM
 #11

here is what is happening and what will happen:
1. bitcoin will have a soft fork which will activate SegWit soon.

2. August 1 BCC will probably not reach enough hashrate to produce 1 block per hour, they change the difficulty manually to fix that and will get 51% attacked from the rest because of the low difficulty and low hashrate. exchanges (since they are losing money because of double spends) de-list this altcoin.

3. like all airdrops the price of the altcoin (BCC) will drop 1-2 days before the release and the second it is released there will be a big dump. others seeing this will panic and start asking "how do i dump it" this board will be filled with topics. they learn and dump it. price of BCC crashes hard. specially because most exchanges have de-listed them and only smaller ones have it with ultra thin orderbooks that can be dumped into and crashed with small amounts.

4. there will no longer be enough economical incentive for any miner to waste their electricity and equipment on this chain and they will give it up.

5. it disappears leaving behind a bad memory in our minds and takes away the trust a handful of people have of these people promoting BCC

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July 27, 2017, 04:41:01 AM
 #12

Any reasons not to look at the Ether fork as a good prior example?
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July 27, 2017, 05:47:02 AM
 #13

Some people that are not living under a rock know that bitcoin is going to hard fork come August first. After two weeks, when the dust settles we should have more clarity on the results of this split of the blockchain. I want to poll all BitcoinTalk members to see their perspective on this fork. Do you see gloom and doom or do you see opportunity and exciting times coming.

Please vote so we can have a sample of the community.

Wasn't there enough confusion that you have to rename two coins. It is bitcoin and bitcoin cash.

1. On August 1, the whole bitcoin protocol isn't getting hard forked. ViaBTC would be implementing their own version of this open source protocol (BCC) which isn't going to make any changes to the main network. Only a small percentage of miners would be mining the BCC chain so IMO the question of gloom and doom is insignificant.

2. There is replay and wipeout protection so there would be no double spends and as far as wipeout is concerned, BCC is a permanent fork so it is unlikely.

3. Majority of miners are committed to activate Segwit so obviously BCC would have a very small amount of hashrate to support the chain. Keeping this scenario in mind, ABC developers have added a slow mining difficulty reduction algorithm.

4. Exchanges. I don't think major exchanges would support BCC. Coinbase has already made it clear.

After all the dust settles down, IMO there could be two possible scenarios either BCC will bite the dust or it will exist as an altcoin with much lower value than bitcoin.
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July 27, 2017, 06:13:15 AM
 #14

I think BCC will run until November as a contingency to see if core will actually implement 2x. If core does not, then BCC will be 2x. If core does, then BCC goes away. It's quit simple its really up to core to decide if they will honor 2x or not. BCC is just there as a backup because with SegWit being an irreversible change, any engineer/dev/ops team would like to have a contingency regardless of factions, its a saftey measure..
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July 27, 2017, 12:01:00 PM
 #15

Ya. Blockstream/Bitcoin Core devs have been known to not keep their word.

I think BCC will run until November as a contingency to see if core will actually implement 2x. If core does not, then BCC will be 2x. If core does, then BCC goes away. It's quit simple its really up to core to decide if they will honor 2x or not. BCC is just there as a backup because with SegWit being an irreversible change, any engineer/dev/ops team would like to have a contingency regardless of factions, its a saftey measure..
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July 27, 2017, 12:13:15 PM
 #16

what does btl stand for?

there'll be a few crazies who mine bitcoin cash but the big guns are more interested in money than anything else despite their endless attempted to grab power. money will win so they'll follow the segwit chain.
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July 27, 2017, 12:15:01 PM
 #17

Some people that are not living under a rock know that bitcoin is going to hard fork come August first. After two weeks, when the dust settles we should have more clarity on the results of this split of the blockchain. I want to poll all BitcoinTalk members to see their perspective on this fork. Do you see gloom and doom or do you see opportunity and exciting times coming.

Please vote so we can have a sample of the community.

Wasn't there enough confusion that you have to rename two coins. It is bitcoin and bitcoin cash.

1. On August 1, the whole bitcoin protocol isn't getting hard forked. ViaBTC would be implementing their own version of this open source protocol (BCC) which isn't going to make any changes to the main network. Only a small percentage of miners would be mining the BCC chain so IMO the question of gloom and doom is insignificant.

2. There is replay and wipeout protection so there would be no double spends and as far as wipeout is concerned, BCC is a permanent fork so it is unlikely.

3. Majority of miners are committed to activate Segwit so obviously BCC would have a very small amount of hashrate to support the chain. Keeping this scenario in mind, ABC developers have added a slow mining difficulty reduction algorithm.

4. Exchanges. I don't think major exchanges would support BCC. Coinbase has already made it clear.

After all the dust settles down, IMO there could be two possible scenarios either BCC will bite the dust or it will exist as an altcoin with much lower value than bitcoin.

I renamed the 2 coins so not to play favorites and I didn't use BCC for bitcoin cash because that ticker is already taken by bitcoin connect.

¯\_(ツ)_/¯

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July 27, 2017, 12:19:46 PM
 #18

Option 2 for me, but being a "Newbie", I'm not able to vote.

Because I wanted to be fair and impartial, both blockchains will be different from the one we have now, they both implement changes, the core supports SegWit2x and a small group of rebels support bitcoin cash.

A rare virtue in this debate.  +1

More accurately, I'd say that the two sides are "SegWit" and "Bitcoin Cash".  The "2x" part of the SegWit2x agreement is highly controversial among those on the SegWit side.  The Bitcoin Core developers, for example are almost universally opposed to SegWit2x.  

Finally, might I suggest you also run this poll in Chinese on the Chinese subforum here?  I've noticed they're paying more attention to this fork and that the threads are less one-sided.  It would be interesting to compare the two.
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July 27, 2017, 12:31:28 PM
 #19

From the moment 100% of the miners agree on Segwit for Bitcoin, anything not having Segwit is NOT Bitcoin.

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July 27, 2017, 12:36:58 PM
 #20

For now I am still confused and do not understand what will happen to bitcoin after August 1, a few days ago I sold bitcoin, and I prefer ETH, is my decision right?  Huh

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July 27, 2017, 01:02:59 PM
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Ya. Blockstream/Bitcoin Core devs have been known to not keep their word.

I think BCC will run until November as a contingency to see if core will actually implement 2x. If core does not, then BCC will be 2x. If core does, then BCC goes away. It's quit simple its really up to core to decide if they will honor 2x or not. BCC is just there as a backup because with SegWit being an irreversible change, any engineer/dev/ops team would like to have a contingency regardless of factions, its a saftey measure..

Blockstream did not sign the Silbert Accord (a.k.a. the New York Agreement)

I don't see any current Bitcoin Core devs on the list of supporters either (the former lead developer Gavin Andresen did sign the agreement).

In fact, Bitcoin Core as an organisation would be effectively breaking its word if they did add SegWit2x logic to Bitcoin Core.
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July 27, 2017, 01:26:44 PM
 #22

Blockstream did not sign the Silbert Accord (a.k.a. the New York Agreement)

I don't see any current Bitcoin Core devs on the list of supporters either (the former lead developer Gavin Andresen did sign the agreement).

In fact, Bitcoin Core as an organisation would be effectively breaking its word if they did add SegWit2x logic to Bitcoin Core.

Indeed, they totally refuse to submit to the wishes of the community. Unbelievable behaviour
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July 27, 2017, 03:33:57 PM
 #23

Option 2 for me, but being a "Newbie", I'm not able to vote.

Because I wanted to be fair and impartial, both blockchains will be different from the one we have now, they both implement changes, the core supports SegWit2x and a small group of rebels support bitcoin cash.

A rare virtue in this debate.  +1

More accurately, I'd say that the two sides are "SegWit" and "Bitcoin Cash".  The "2x" part of the SegWit2x agreement is highly controversial among those on the SegWit side.  The Bitcoin Core developers, for example are almost universally opposed to SegWit2x.  

Finally, might I suggest you also run this poll in Chinese on the Chinese subforum here?  I've noticed they're paying more attention to this fork and that the threads are less one-sided.  It would be interesting to compare the two.


Can you give me a good translation? I don't trust Google translate to do a good job with the technical names.

¯\_(ツ)_/¯

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July 27, 2017, 04:03:26 PM
Last edit: July 27, 2017, 04:50:54 PM by ikeo
 #24

Ya. Blockstream/Bitcoin Core devs have been known to not keep their word.

I think BCC will run until November as a contingency to see if core will actually implement 2x. If core does not, then BCC will be 2x. If core does, then BCC goes away. It's quit simple its really up to core to decide if they will honor 2x or not. BCC is just there as a backup because with SegWit being an irreversible change, any engineer/dev/ops team would like to have a contingency regardless of factions, its a saftey measure..

Blockstream did not sign the Silbert Accord (a.k.a. the New York Agreement)

I don't see any current Bitcoin Core devs on the list of supporters either (the former lead developer Gavin Andresen did sign the agreement).

In fact, Bitcoin Core as an organisation would be effectively breaking its word if they did add SegWit2x logic to Bitcoin Core.


The whole premise of miners signaling for BIP91 was for SegWit2x, that's why it was not BIP148. It was a compromise. If Core holds onto this like you are saying, there will be a split. Also Gavin being the lead, his signature should've represented the team. Because the team changed, doesn't mean the agreement changes with it.  I think it's healthy for bitcoin to grow up. I would think of it like a civil war. Businesses and countries have to sit on the side to see who will win. Bitcoin big block or Bitcoin w. SegWit. Competition is not only healthy, it is needed to prove which iteration will be more widely adopted.

If you support decentralization. Then you know there's no central entity and trying to keep it centralized is against its nature. This could be looked at in the future as an attack on bitcoin by one side or the other and the decentralized nature allowed both to try and see which version actually works better. Otherwise, it is centralized control where one side dictates to the other. I think this fork is by definition what decentralization was meant to be, not just nodes but decision making and the proper use of a fork. In my experience scaling systems, most of the anti-bcc arguments aren't true. A lot of this scaling stuff has been done 10x over by many centralized companies over the last 7-10 years. The amount of volume bitcoin usage on a system/network level is small compared to large orgs and highly inefficient. The rebel nature and passion behind it make it pretty powerful, but to unleash the power using configs from 2010 to prevent DDoS is a limiting factor.  At this point, its preventing legitimate traffic and we know it.


From the blog post in your link... It's a choice.. Some people would rather leave onchain vs. adding "additional layers" while breaking up the original blocks.
Quote
Our vision for Bitcoin is to .... by providing the foundation for additional layers on top of the protocol and interfaces with other systems.
Quote
... users always retain the choice over which software they run.
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July 27, 2017, 05:25:28 PM
 #25

OP, why do you not want to call them for what they really are? BTC and the altcoin BCC? There is no need to hide the truth from the people in the forum that BCC is an altcoin.

THIS.  SO MUCH THIS. 

BCC, if it survives, is an alt coin.

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July 27, 2017, 05:31:49 PM
 #26

Indeed, they totally refuse to submit to the wishes of the community. Unbelievable behaviour

how do we know what the wishes of the community are? the new york agreement was one room full of people.
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July 27, 2017, 05:51:23 PM
 #27

SegWit2x hardfork will commence in November so in a way the poll wording is kinda misleading. Bitcoin Cash might as well cost jack shit at the end of the year. I think the coin with the longest chain will win the mainstream masses.
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July 28, 2017, 01:52:20 AM
 #28

Finally, might I suggest you also run this poll in Chinese on the Chinese subforum here?  I've noticed they're paying more attention to this fork and that the threads are less one-sided.  It would be interesting to compare the two.


Can you give me a good translation? I don't trust Google translate to do a good job with the technical names.

I'm afraid not.  I've been using online translation tools and doing my best to read past the odd language generated.
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July 28, 2017, 02:00:33 AM
 #29

For now I am still confused and do not understand what will happen to bitcoin after August 1, a few days ago I sold bitcoin, and I prefer ETH, is my decision right?  Huh

we only can wait for 1st august as we don't know yet. i hope you still have another bitcoin because if bitcoin price is increase you never regret for selling bitcoin yesterday. ethereum is a good choice for you to buy and i think ethereum will increase too someday. its too many prediction in out there that telling about this and they only give prediction without knowing what is happen later so i think we don't have to worries and let we see what will happen later.

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July 28, 2017, 02:37:12 AM
 #30

OP, why do you not want to call them for what they really are? BTC and the altcoin BCC? There is no need to hide the truth from the people in the forum that BCC is an altcoin.

Because I wanted to be fair and impartial, both blockchains will be different from the one we have now, they both implement changes, the core supports SegWit2x and a small group of rebels support bitcoin cash. So on August 1st we will have a fork with 2 different versions of bitcoin, not a bitcoin and an altcoin, regardless of who gets to keep the BTC symbol.

What would be unfair would be to call them something else taking away what Bitcoin really is and what BCC really intends to do. Call them for what they are please. BTC - Bitcoin the original. BCC - Bitcoincash the altcoin.

There is no need to confuse the forum.

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July 28, 2017, 03:09:12 AM
 #31

If Core holds onto this like you are saying, there will be a split.

The same can be said to the parties of the Silbert Accord.  Both camps have a great deal of support and neither can reasonably back down this time.  There will almost certainly be a controversial hardfork in November, quite possibly dwarfing the August 1st drama.

Also Gavin being the lead, his signature should've represented the team.  Because the team changed, doesn't mean the agreement changes with it.

Gavin passed the reigns to Wladimir in April, 2014.  Gavin's last commit to Bitcoin Core was in April, 2016.  The agreement was signed on May, 2017.

I think it's healthy for bitcoin to grow up.

Excerpts from the January, 2016 statement by Bitcoin Core I referenced earlier:

"Our vision for Bitcoin is to expand the flexibility of the system to work efficiently at extremely high scale, while at the same time maintaining security and the core properties of decentralization that make Bitcoin unique."

"Changes to the Bitcoin consensus rules can be made through either soft forks or hard forks (see Appendix A)."

"It turns out it is possible to add almost any new feature with a soft fork. Occasionally, hard forks may have some benefits, and if there is near-universal agreement, these benefits may outweigh the downsides. Except for these rare cases, soft forks are to be preferred."

Evidently, you're in agreement with the Bitcoin Core team on this.

Businesses and countries have to sit on the side to see who will win. Bitcoin big block or Bitcoin w. SegWit. Competition is not only healthy, it is needed to prove which iteration will be more widely adopted.

Well said, although I would say that which branch ends up being more widely adopted is a side issue.  The freedom of choice is the thing.

This could be looked at in the future as an attack on bitcoin by one side or the other and the decentralized nature allowed both to try and see which version actually works better.

Bitcoin Core, by not allowing themselves to be dictated to by the parties of the Silbert Agreement, is exercising the very freedoms you and I both champion.  The same freedoms Satoshi exercised when he decided to try and build his own money.

At this point, its preventing legitimate traffic and we know it.

I don't doubt you, but what is legitimate traffic?  What if, in the future, the amount of legitimate traffic is far more than we know how to accommodate in a trustless, decentralised way?

From the blog post in your link... It's a choice.. Some people would rather leave onchain vs. adding "additional layers" while breaking up the original blocks.
Quote
Our vision for Bitcoin is to .... by providing the foundation for additional layers on top of the protocol and interfaces with other systems.
Quote
... users always retain the choice over which software they run.

I completely agree.  Some good points.
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July 28, 2017, 04:33:47 AM
 #32


I completely agree.  Some good points.


Good points to you as well. I appreciate the clarification and corrections. I think Blockstream | Core should have the ability to vote for a change course of the original vision and if there is consensus then that is the way it will be. I just don't like the censorship that is happening on r/bitcoin and I don't agree with a lot of the misinformation being passed around.

I am in agreement with consensus and the nature of decentralization. Some people are confusing the fork as if it will result in centralization. It will not. It will prove what the world thinks is bitcoin. Our individual beliefs are moot in the greater scheme, but trickery and censorship I really didn't like seeing when I was researching between the two. Neither side should be dictated to if they didn't reach an agreement which is why I think this is the appropriate use of a fork. Like you said and we both agree, let the people and the market choose.

As far as which is the altcoin, if you go by the Satoshi whitepaper, BCC is the original and continuing on the original chain. BTC w. SegWit cuts it up and modifies it which, to me, is the altcoin since it is no longer the same chain from the genesis block. It is a fundamentally different chain from a code and technology point of view.

I am also in agreement that mid November is going to be the real date to watch. If Core does not apply the 2x, from what Bitcoin.com mentioned, they will move hashpower to BCC. After that i think others will follow. I think instead of another hardfork, miners will skip SegWit all together and back BCC. This would make it 2 bitcoins rather than 3. If the agreement is not kept, there's no reason to have 2x at all. Then Bitcoin BigBlock vs. Bitcoin SegWit, fight in the world market for marketshare and usage. This is definitely an interesting time. Both can technically coexist but peoples ego's wants one to die to hold the title. IMO, BCC is the better option for a country like Japan/Korea/etc to use in the retail space. BTC will be better as an asset type.

As the network grows it becomes more expensive to do DDoS especially with a higher cap. SegWit is by nature a centralized payment channel. We will deal with that issue when the time comes. The cap itself is artificial. Esp. to a devops guy, its kinda silly to think "processing power" will be out of reach of peoples hands if bitcoin ups the block to 2MB. There is really no technical reason not to implement 2x. The only thing SegWit does is allow a payment channel for Liquid that take fee's from miners. We'll no doubt be DDoS'ed on SegWit before hitting 8MB on BCC.

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July 28, 2017, 04:43:46 AM
 #33



Can someone make a smart contract for this and let the participants send their bet and let's see which one wins on DECEMBER 31, 2017, after all the drama and confusion settles(even past the possible Nov drama)?

So we can get something out of this endless debates. Cheesy

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July 28, 2017, 06:57:09 AM
 #34



Can someone make a smart contract for this and let the participants send their bet and let's see which one wins on DECEMBER 31, 2017, after all the drama and confusion settles(even past the possible Nov drama)?

So we can get something out of this endless debates. Cheesy

-east




don't need a smart contract... It's all really up to core. SegWit2x or a Melee. hopefully we all learn a little something from these debates. It's much better than the bashing i see all over the place. I think BCC can crash hard its all centralized on cores decision to 2x or not. That i can't predict, instead, I'm going to hodl with my blanket.
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July 28, 2017, 08:06:08 AM
 #35

my hope
BTS and BTL will coexist but BTL will have a lower value, like ETC and ETH  Grin
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July 28, 2017, 08:37:36 AM
 #36

As far as which is the altcoin, if you go by the Satoshi whitepaper, BCC is the original and continuing on the original chain. BTC w. SegWit cuts it up and modifies it which, to me, is the altcoin since it is no longer the same chain from the genesis block. It is a fundamentally different chain from a code and technology point of view.

I don't disagree.  I stand by the claim I made on Monday on HostFat's thread:
"Altcoin" implies not Bitcoin but both of these coins have a good claim to the name "Bitcoin".

If you think that one of the branches is not really Bitcoin then I challenge you to identify it and explain why.

I am also in agreement that mid November is going to be the real date to watch. If Core does not apply the 2x, from what Bitcoin.com mentioned, they will move hashpower to BCC. After that i think others will follow. I think instead of another hardfork, miners will skip SegWit all together and back BCC.

It's a possibility.  A hardfork affords the opportunity to clear out a lot of technical debt and elegantly fix many problems, including all those that SegWit addresses (see: Flexible Transactions).  While it's young, Bitcoin Cash could easily undergo such a hardfork upgrade and absorb some good tech from other teams that have shown interest: Bitcoin Unlimited and Bitcoin Classic.  Grown well, Bitcoin Cash could serve as a lightning rod in the coming SegWit2x storm.

By the way, I've started using the ticker BCH instead of BCC now that both Bitfinex and Kraken have adopted it.  The conflict with BitConnect Coin was bugging me.
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July 28, 2017, 09:07:13 AM
 #37

OP, why do you not want to call them for what they really are? BTC and the altcoin BCC? There is no need to hide the truth from the people in the forum that BCC is an altcoin.

No, it's not. BCC is CONTINUATION of working stable Bitcoin chain, whilst BIP148 is utter bullshit that will go down cause of its sheer stupidity and uselessness.
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July 28, 2017, 11:05:43 AM
 #38

OP, why do you not want to call them for what they really are? BTC and the altcoin BCC? There is no need to hide the truth from the people in the forum that BCC is an altcoin.

No, it's not. BCC is CONTINUATION of working stable Bitcoin chain, whilst BIP148 is utter bullshit that will go down cause of its sheer stupidity and uselessness.

classic.

pinhead developers, pathetic hash rate, contempt from the major players.

yep. it's gonna be a super smooth roll out.
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July 28, 2017, 04:43:35 PM
 #39

As far as which is the altcoin, if you go by the Satoshi whitepaper, BCC is the original and continuing on the original chain. BTC w. SegWit cuts it up and modifies it which, to me, is the altcoin since it is no longer the same chain from the genesis block. It is a fundamentally different chain from a code and technology point of view.

I don't disagree.  I stand by the claim I made on Monday on HostFat's thread:
"Altcoin" implies not Bitcoin but both of these coins have a good claim to the name "Bitcoin".

If you think that one of the branches is not really Bitcoin then I challenge you to identify it and explain why.

I am also in agreement that mid November is going to be the real date to watch. If Core does not apply the 2x, from what Bitcoin.com mentioned, they will move hashpower to BCC. After that i think others will follow. I think instead of another hardfork, miners will skip SegWit all together and back BCC.

It's a possibility.  A hardfork affords the opportunity to clear out a lot of technical debt and elegantly fix many problems, including all those that SegWit addresses (see: Flexible Transactions).  While it's young, Bitcoin Cash could easily undergo such a hardfork upgrade and absorb some good tech from other teams that have shown interest: Bitcoin Unlimited and Bitcoin Classic.  Grown well, Bitcoin Cash could serve as a lightning rod in the coming SegWit2x storm.

By the way, I've started using the ticker BCH instead of BCC now that both Bitfinex and Kraken have adopted it.  The conflict with BitConnect Coin was bugging me.


Thanks for the links and I agree about the name but BCH doesn't sound cool though.  I don't consider BitConnect a real coin though imo. I don't really like it. We'll see the results soon. Cheers.
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July 28, 2017, 05:12:36 PM
 #40

Some people that are not living under a rock know that bitcoin is going to hard fork come August first. After two weeks, when the dust settles we should have more clarity on the results of this split of the blockchain. I want to poll all BitcoinTalk members to see their perspective on this fork. Do you see gloom and doom or do you see opportunity and exciting times coming.

Please vote so we can have a sample of the community.

I think you lack one choice that is "there will be no fork." It is not guaranteed that there will be a fork but rather a possibility. Also we can say that all for sure (regarding your poll and choices) since we don't have the grounds to say what will be better, which will gain a lot of attention, or  anything which will make your poll inaccurate.



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July 28, 2017, 11:48:37 PM
 #41

Any reasons not to look at the Ether fork as a good prior example?
In the Ether fork, ETH was the "status quo" coin.  It was development of the network which people perceived to be against immutability and potentially against the original Ethereum platform.

In this Bitcoin fork, the original coin is still the status quo coin.  If we had an ETH/ETC scenario, it would be reversed because in Bitcoin, perceived security tends to matter to people more than perceived upgrades in the technology.  Perhaps this is because Bitcoin is the "main" coin, and others are more of a testing ground.

What would be comparable is if there was a low consensus hard fork to 2MB blocks on the main chain.
kelsey
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July 29, 2017, 12:16:24 PM
 #42

isn't there a 3rd option of just the original bitcoin continuing on and avoiding either of these garbage alts? or its bitcoin proper dead?
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July 29, 2017, 02:04:43 PM
 #43

when you create a multi choice question like this aka a poll you should keep it simple and to what people know. and also keep it unbiased!

right now you are firstly complicating the choices by adding a lot of options and also giving them names nobody recognizes!

also it is obviously too biased when you call it "libertarian"!
why not use the common names that majority of people use: BTC vs BCC

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July 29, 2017, 03:10:47 PM
 #44

why not use the common names that majority of people use: BTC vs BCC

because majority of people know BCC ticker is already taken by BitConnect (currently 12th on coinmarketcap 400 mil marketcap so not an insignificant coin)....and likely to cause a ton of confusion when all of the above is listed.
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