Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

Hi ZmnSCPxj, On Mon, Jan 29, 2018 at 9:32 PM, ZmnSCPxj wrote: >What ensures that a paper money with "10 Dollar" on it, is same as 10 coins each with "1 Dollar" on it? >This is the principle of fungibility, and means I can exchange a paper with "10 Dollar" on it for 10 coins with "1 Dollar" on

Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

Good Morning Chaofan Li, > The human perception of difference will be eliminated. > Will your bank tell you whether your balance means coins or paper money? > If wallets and exchanges only show the total amount of btc rather than btc.0 > and btc.1, there is no human perception difference. This

Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

The human perception of difference will be eliminated. Will your bank tell you whether your balance means coins or paper money? If wallets and exchanges only show the total amount of btc rather than btc.0 and btc.1, there is no human perception difference. Also note that one valid address is

Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

On 01/22/2018 04:38 PM, Chaofan Li via bitcoin-dev wrote: > Miners are most likely to be  equally distributed between the two almost > same chains. This is irrelevant as miners don't determine the utility of a money, they anticipate it. However you don't have to accept this to recognize the error

Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

Miners are most likely to be equally distributed between the two almost same chains. If one chain is faster, according to the difficulty adjustment scheme, it will become more difficult to mine. The two chain should have similar chain generation rates with similar difficulty and similar length.

Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

This is true but confuses people because obviously miners must commit capital to mining before any block space can exist to have value. The reason for the misunderstanding is that miners don’t simply respond, they anticipate. All production, and therefore capital investment, is the result of

Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

> On Jan 22, 2018, at 11:01 AM, Ilan Oh via bitcoin-dev > wrote: > > The chain with the most mining power will tend to have more value. I believe you have the causality on that backwards. The tokens which are worth more value will attract more mining

Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li)

How do you handle the mining on each chain ? The chain with the most mining power will tend to have more value. Also blocks are not mined equally and 1 chain will be longer than the other thus faster thus more valuable. It seems to be a sidechain proposal with the exact same protocol.