[image: Inline image 1] On Fri, Aug 18, 2017 at 2:05 PM, Steven Schear <schear.steve@gmail.com> wrote:
A snapshot from a few minutes ago. Notice how pricing became a hockey stick when BCC approached 0.153 BTC.
[image: Inline image 2]
On Fri, Aug 18, 2017 at 1:52 PM, Steven Schear <schear.steve@gmail.com> wrote:
They may be separate but they are not unrelated. There is only so much mining power and its distribution affects both (actually all) chains.
Speaking of which BCC has reach the price (0.153 BTC), calculated on reddit by Jonathan Vaage, at which mining on BCC (including all costs and rewards) is better. This has become a rallying and resistance level and the battle has been joined between these armies of miners, traders, whales, etc.
The next scheduled (not 20% emergency) difficulty adjustment comes in just a few days for BCC (could be this weekend). After that, BTC also adjusts in a few days. If a flippening is in the offing I think it would come shortly after the BTC adjustment. If the miners in a major cartel then flee to BCC, it will leave BTC bereft of hash power and block intervals could explode preventing any practical use of the blockchain (a Chain Death Spiral). If so, Core supporters will probably be forced into using similar "emergency" difficult adjustments (even though they tried to humiliate Cash advocates about this methodology before the fork).
On Fri, Aug 18, 2017 at 12:56 PM, Mirimir <mirimir@riseup.net> 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
On 08/18/2017 05:55 AM, Georgi Guninski wrote: 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.
-- Creator of the Warrant Canary and the Street Performer Protocol. Wi-Fi standard spec. creation participant and co-developer of eCache. Director at MojoNation and Cylink. Founding member of IFCA and GNU Radio.
Shameless self-promoter :)
-- Creator of the Warrant Canary and the Street Performer Protocol. Wi-Fi standard spec. creation participant and co-developer of eCache. Director at MojoNation and Cylink. Founding member of IFCA and GNU Radio.
Shameless self-promoter :)
-- Creator of the Warrant Canary and the Street Performer Protocol. Wi-Fi standard spec. creation participant and co-developer of eCache. Director at MojoNation and Cylink. Founding member of IFCA and GNU Radio. Shameless self-promoter :)
