Is a BTC - BCC flippening in the offing?

Mirimir mirimir at riseup.net
Fri Aug 18 12:09:40 PDT 2017


On 08/18/2017 07:52 AM, Steven Schear 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.

Sure, they're related in that sense. But let's accept that the current
BTC/BCC situation is a form of double spending. In order to prevent
that, something would need to look at both BTC and BCC blockchains, and
perform cross adustments. I can't imagine how one would do that.

> 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.

OK, interesting.

> 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).

Thanks for the heads up. I'll fire up those BCC wallets, and load those
keys. I wonder if shapeshift.io could convert fast enough.

> 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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