On 08/18/2017 05:55 AM, Georgi Guninski wrote:
On Fri, Aug 18, 2017 at 09:29:54AM -0500, Steven Schear wrote:
original) and Cash. When the fork happened those holding BTC (in their own wallets) were also able to claim an equal amount of BCC (for free). This created a huge supply of BCC. However, many or most people rarely keep
Isn't this setting a very dangerous precedent of doubling bitcoin + derivatives? One of the things I liked most in the btc design was its resemblance of the gold standard -- the maximum amount of btc was known and fixed. Now they are violating this by creating "derivatives" out of nothing like the fucked up real world financial system. Hypothetically if in the future they fork $n$ times, they will increase the amount of btc + derivatives by factor of $2^n$.
Currently I recommend to the btc overlords in future forks to keep the amount of btc + derivatives fixed, possibly by choose ``old XOR new btc''.
I'm not sure how else a fork could work. I mean, it's a fork in the blockchain. Initially, it's an exact duplicate. And thereafter, the blockchains are entirely separate and unrelated. So there's no way to enforce an XOR choice.