Is a BTC - BCC flippening in the offing?

[Steven Schear]

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 at riseup.net> wrote:

> 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.
>



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