Is a BTC - BCC flippening in the offing?

[Steven Schear]

[image: Inline image 1]

>From fork.lol

On Fri, Aug 18, 2017 at 11:07 PM, Steven Schear <schear.steve at gmail.com>
wrote:

> [image: Inline image 1]
>
> On Fri, Aug 18, 2017 at 9:20 PM, Steven Schear <schear.steve at gmail.com>
> wrote:
>
>> [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 :)
>>
>
>
>
> --
> 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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