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Author Topic: "The Real Bitcoin"  (Read 354 times)
ETFbitcoin
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November 04, 2017, 02:23:26 PM
 #21

Majority miners support SegWit2x doesn't mean majority bitcoin user support SegWit2x, especially since both sides have solid argument that make some bitcoiner confused. I'd wait and see which one got more community support, but i think SegWit2x will become minority.

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BTCbengi
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November 04, 2017, 02:23:54 PM
 #22

I think Segwit2x is just a new way for users to trade faster and more expensive. This is also another Bitcoin form, so there will not be any investors or miners who left Bitcoin at the expense of the increase. I really hate to raise fees, it costs me a lot of money and it's no different from paying taxes

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November 04, 2017, 02:37:32 PM
 #23

May the strongest coin win. If ever a coin is coined from a fork that ends up being better than bitcoin and more popular ( higher price), then so be it. I dont see it happening anytime soon, but it is a free market, and people are free to choose what works best for them. Just keep your theory in mind when making your next bitcoin purchase, that it could all go tits up at any moment.
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November 04, 2017, 02:45:31 PM
 #24

What we are getting from every fork is just another altcoin which is actually clone of original bitcoin with some modification only. We have many of those clone coins before which we all consider as altcoin till now and neither of them have got enough support to out-game the real bitcoin.

Many used to hype about bitcoin cash before august fork, like it will take over bitcoin but it didn't.

Same thing is spreading around again for B2X, it might gain some support from miners and so it will have some value but I don't think it will have majority of mining power in anyway. Even though if it will have majority of mining (almost impossible) it will be called as B2X coin rather than bitcoin by many people + exchanges.

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November 04, 2017, 03:29:33 PM
 #25


I think what is original stays original all the time and there is no way the facts can be changed for real bitcoin (the one which is currently). I think its far fetched to see new blockchain to be considered as more prominent and the related B2x coin as far greater than the current one. Why and what would really be the reason that people will have to choose the second entity, I see no reason at all.


People will not be confused with the bitcoin as they did not with the BCH, BCC, and BTG. Now whatever comes up front will be just another story of its brother. So stay relax and watch the power of bitcoin grow.

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November 04, 2017, 03:52:30 PM
 #26

The real Bitcoin is the one with the longest chain that is valid. In order for it to be valid, the chain has to have the most cumulative Proof of Work under consensus rules. In order to do that, you must have a full node and the full nodes on the Bitcoin network are extremely decentralized and have no intention of switching their consensus rules to a chain that is clearly not valid as it does not benefit the whole network.
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November 04, 2017, 03:58:01 PM
 #27

What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.

The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?

What is your plan so far and what do you expect?

The real Bitcoin is BTC. The Segwit2x fork is going to be controlled by former bank executives. They will control it so it will no longer be independent and decentralized.

The real Bitcoin will always be in control of the people and be decentralized so no bank or government or small group of people control it. Otherwise it defeats the whole purpose of Bitcoin.

It is yet to be seen which coin will be stronger but i’m sticking with the one that is decentralized.

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November 04, 2017, 04:14:25 PM
 #28

What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.

The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?

What is your plan so far and what do you expect?
When bitcoin cash and bitcoin gold take place, people are afraid of this, but no one isn't leaving the bitcoin so do not worry about this.

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November 04, 2017, 04:22:38 PM
 #29

The real Bitcoin is the one with the longest chain that is valid. In order for it to be valid, the chain has to have the most cumulative Proof of Work under consensus rules. In order to do that, you must have a full node and the full nodes on the Bitcoin network are extremely decentralized and have no intention of switching their consensus rules to a chain that is clearly not valid as it does not benefit the whole network.


If that were true, then maybe the Bitcoin 0.2 or Bitcoin 0.3 network is the "real" Bitcoin. Because a dozen or so consensus rules changes have happened over the years.

(note: there are no Bitcoin nodes existing on the network less than version 0.8, just to highlight how far we have to stretch reality to make this true)

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November 04, 2017, 04:26:45 PM
 #30

I will keep my Bitcoin in my wallet, and wait until I'm sure it will be safe to claim my B2X.
I think Hashrate is not what counts most. If majority of miners start supporting SegWit2x blockchain but without the support of majority of the Bitcoin community, they will only flood the market with a coin that people are not willing to buy. It would be a new opportunity for new miners invest on Bitcoin Core blockchain as its difficulty would be lowered.
It would be a big mistake if some exchanges start to call the new coin as the real Bitcoin and assign the ticker BTC to it if the majority of community does not support SegWit2x. It would confuse people, make some of them lose their money sending BTC to a wrong wallet address because of these exchanges. It would make a lot of people to boycott these exchanges. I would never use any exchange that may confuse me and make lose money.
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November 04, 2017, 04:28:47 PM
 #31

Charlie Lee got me scared

https://twitter.com/SatoshiLite/status/925975917108781056

Charlie Lee
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"If Segwit2x miners manages to kill original chain with a 51% attack, Bitcoin will eventually lose the crypto throne. My bet is on Litecoin."



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November 04, 2017, 04:49:09 PM
 #32

I feel like the discussion on this is to nebulous to follow. While I have seen the warning from the core team. Where is the main discussion for this happening? Where is a more public meeting, where are people voting to support this? Can we just have a final check for who is on board before we possibly destroy our coin?

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