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Author Topic: Is BTC Segwit an altcoin?  (Read 434 times)
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August 01, 2017, 03:45:19 PM
 #1

Someone say yes. someone say no. Could anyone explain easily in scientific way?

Maybe this quote be perfect for beginning discussion.

Yes because it is (BTC Cash)a divergence from the current bitcoin so would mean it is an alternative version of bitcoin so altcoin it is, regardless if more people support it and it becomes the leader it is still an altcoin, in my eyes anyway.

this has somewhat fazed me as well... the original bitcoin didn't have segwit and didn't have larger blocks, so, the bitcoin running now, which has segwit, and the forked one - bitcoin cash, whose blocksize was increased, are both modifications of the original.  Grin so that means the original bitcoin is gone (?)  Huh
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satoshforever
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August 01, 2017, 03:51:43 PM
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No, it isn't an Altcoin. Bitcoin Core has been adding upgrades to Bitcoin for many years and that doesn't make it a separate coin. Same with Segwit. Anyway, it's more of a "religious" question than a practical one - people call things they don't like "altcoins"
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August 01, 2017, 03:51:53 PM
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Original Bitcoin code has been changed many times, do you considered each code commit makes Bitcoin a new altcoin?

Right now BCC is an altcoin, BTC segwit is mainstream or some might call it original Bitcoin.

But BCC is more inline with Satoshi's vision and scaling method. BTC segwit was not part of Satoshi's original intention.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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August 01, 2017, 04:03:27 PM
 #4

Someone say yes. someone say no. Could anyone explain easily in scientific way?

Maybe this quote be perfect for beginning discussion.

Yes because it is (BTC Cash)a divergence from the current bitcoin so would mean it is an alternative version of bitcoin so altcoin it is, regardless if more people support it and it becomes the leader it is still an altcoin, in my eyes anyway.

this has somewhat fazed me as well... the original bitcoin didn't have segwit and didn't have larger blocks, so, the bitcoin running now, which has segwit, and the forked one - bitcoin cash, whose blocksize was increased, are both modifications of the original.  Grin so that means the original bitcoin is gone (?)  Huh

From my point of view, Bitcoin SegWit is not the original bitcoin. Satoshi Nakamoto dreamt bitcoin in other way, so that means the original bitcoin is the digital currency which is in the mind of its creator.
As they've said, Satoshi Nakamoto don't like SegWit so we can say that the original Bitcoin is gone. And, the BCH now is the digital coin Satoshi Nakamoto is dreaming but it is an altcoin so we cant say that it is the original one.
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August 01, 2017, 04:08:49 PM
 #5

Windows 10 has nothing to do with Windows 98. In your different programs? No it's the same thing only under the influence of the evolution of the program is changing beyond recognition. The same thing is happening with bitcoin.

 
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williamuk
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August 01, 2017, 04:11:45 PM
 #6

Someone say yes. someone say no. Could anyone explain easily in scientific way?

Maybe this quote be perfect for beginning discussion.

Yes because it is (BTC Cash)a divergence from the current bitcoin so would mean it is an alternative version of bitcoin so altcoin it is, regardless if more people support it and it becomes the leader it is still an altcoin, in my eyes anyway.

this has somewhat fazed me as well... the original bitcoin didn't have segwit and didn't have larger blocks, so, the bitcoin running now, which has segwit, and the forked one - bitcoin cash, whose blocksize was increased, are both modifications of the original.  Grin so that means the original bitcoin is gone (?)  Huh

You will never get a scientific answer because there isn't one  Tongue

Most of the time, the word "altcoin" is used by juveniles as a pejorative term to denigrate a coin's status and credibility. That is all.
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August 01, 2017, 05:18:04 PM
 #7

segwit started as an altcoin
blockstream:elements project 2014 <- research it


certain core devs have incorporated blockstream:elements:segwit parts into NEW and VOLUNTARY keypairs which can be used on bitcoins mainnet. although the network topology had to change in a cludgy way to attempt to make these new keypairs functional.

but the facts are that just having segwit "activated" is meaningless to most people.
all the features promised by the certain core devs are not automatic for everyone.

users need to at a later date (when certain core devs spoon feed the code), need to move their funds over to new keypairs and remain using funds on the new style keypairs to then disarm themselves from being able to do anything malicious.

segwit does not stop people doing things by sticking with older/legacy keypairs.
segwit does not mean quadratics is eliminated, and does not mean that spam/bloat/malleability is eliminated either

the network wide change that does affect everyone is the centralisation of the network topology with the cludgy tiered network segwit has created.
there are other cludgy parts to segwit which people are too afraid to research, admit to. and have proven to not know, yet still kiss ass of segwit devs.

in short dont expect segwit activation to be the end of the drama and the beginning of utopia.. people will realise soon enough the promises of 7tx/s are empty gestures, promises of eliminting certain things are empty promises and that normal people are still going to be limited due to the base block, which even segwit is still limited to in ways.

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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August 01, 2017, 05:22:32 PM
 #8

Do read my signature about Segwit:

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