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Minority Branches • Gavin Andresen - "Would there be two different flavors of Bitcoin? Would it cause massive disruptions to the Bitcoin economy? Would your coins be safe? [...] no, no, and yes"

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level 1
3 points · 2 years ago · edited 2 years ago

And minoritycoins will be worth much less than majoritycoins, because they are worse in every practical way. They take longer to confirm, fewer people accept them for payment, they are protected by less hash power, and they are much more difficult to transact safely.

Gavin ignoring the number of full archival nodes again or in other words decentralisation: without a fully stored blockchain you have no coins or imagine only a few computers storing your $100,000 transaction.

level 2

Not sure I understand your point. Why would a move to 2M lead you to the "only a few computers storing your $100,000 transaction" conclusion?

level 3
2 points · 2 years ago · edited 2 years ago

The quote is about a minoritycoin in general and the number of nodes storing the total blockchain of that coin is one of the most important considerations and one that should be taken into account and mentioned

level 4

I think the assumption is that miners would not fork away from a majority of economic nodes in the first place. Fair point though -- the miners could misjudge and fork away from where all or a larger part of the value lies.

level 1

I wanted to downvote this post.. but then i read his article and i have to say that it was not so bad.. he made some good points... tldr: article was better than the title..

level 1
-1 points · 2 years ago

He made good points and forking bitcoin is different than forking ethereum. You trolls didn't even read the article, did you?

level 2
0 points · 2 years ago

^ Above.

As an aside, an unrelated shower though re ETC: if The DAO attacker has been selling into the ETC price rise, what an awesome redistribution of Ethereum coins, many of them likely pre-mined, that is! Anyone know what is happening to the stolen funds on ETC?

level 1

Do your worst Gav. You got the skills. Fork it, and see how ya go.

level 1
[deleted]
0 points · 2 years ago · edited 2 years ago

The week agenda is "Let's fork bitcoin and show the world that public blockchains simply are a dream"

level 1
-6 points · 2 years ago(0 children)
level 2

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