What is a Bitcoin fork?

Post by jameskegel » Fri, Nov 10, 2017, 3:06 PM UTC

bringtheaction wrote: post #64

rebuilder wrote: post #16

FYI the segwit2x fork this post was probably mainly motivated by appears to have been called off: https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x...

Someone claiming to be a group of miners have said that they are going to go through with the fork. https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x... https://bitcoin2x.org/ Of course it's entirely possible that this person or group of people is just someone who bought B2X futures and is trying to push the price back up to minimize their losses.

Post by deevolution » Fri, Nov 10, 2017, 3:29 PM UTC

nikcub wrote: post #26

tryingagainbro wrote: post #21

Earlier quoted context omitted.

Until it's on again. Didn't they fork a few months ago too (Bitcoin Cash)?

Coinbase didn't sign the notice calling off segwit2x[0] even tho they were an NYA signatory - but rather said they were "monitoring"[1] the situation I sense some uncertainty from Coinbase on what they want to do next. edit: also interesting that the price for segwit2x futures has increased today to ~$380 after a low of $198[2] [0] https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x... [1] https://twitter.co…

Post by mbaha » Fri, Nov 10, 2017, 3:55 PM UTC

deevolution wrote: post #93

nikcub wrote: post #26

Earlier quoted context omitted.

Coinbase didn't sign the notice calling off segwit2x[0] even tho they were an NYA signatory - but rather said they were "monitoring"[1] the situation I sense some uncertainty from Coinbase on what they want to do next. edit: also interesting that the price for segwit2x futures has increased today to ~$380 after a low of $198[2] [0] https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x... [1] https://twitter.co…

What is bitcoin futures? Is this speculative pricing on the speculative 2x fork?

Post by SCAQTony » Fri, Nov 10, 2017, 4:03 PM UTC

CydeWeys wrote: post #65

ricg wrote: post #63

Here's another stupid question: Can anybody start a new fork? Let's say, I invested in the original Bitcoin. Then somebody who has the marketing resources to build enough interest in a new coin comes along and decides to fork. Because of the hype around the new coin type, enough people are willing to trade it after the fork. I'm being given the same number of coins of the forked kind and the value of my original coin…

Yes, anyone can start a fork. It's hard to get momentum on it though, as it'll likely just be a shitcoin that no one cares about. Witness what happened with Bitcoin Gold. So far there's only been one successful hardfork of Bitcoin (Bitcoin Cash) in all its history. Anyone can try, but few succeed.

Post by cjhanks » Fri, Nov 10, 2017, 5:00 PM UTC

jstanley wrote: post #18

cjhanks wrote: post #13

Earlier quoted context omitted.

I don't either. Fiat currencies don't fork - you can simply exchange one for another. Another close comparison is a traded equity having a 2:1 split, except shareholders technically lose nothing. Another case would be stock dilution - though, I have never heard of a public stock diluting to 50% value... that seems unlikely. If a specific commodity were to suddenly decide it had an unreported surplus on the order of 1…

That's not a close comparison at all . When a cryptocurrency forks, you keep the same amount of coins on both sides but the 2 are wholly incompatible with one another. A closer comparison is that you it's like 2 simultaneous futures, but with different consensus rules.