Is a BTC - BCC flippening in the offing?

Steven Schear schear.steve at gmail.com
Fri Aug 18 19:20:50 PDT 2017


[image: Inline image 1]

On Fri, Aug 18, 2017 at 2:05 PM, Steven Schear <schear.steve at 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 at 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 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.
>>>
>>
>>
>>
>> --
>> 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 :)
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