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Full MemberActivity: 238Merit: 100 Re: Wondering out loud: Which should Chinese miners support - Core, Classic or another? January 29, 2016, 02:57:18 PM #63 Quote from: CIYAM on January 29, 2016, 02:47:30 PM Quote from: ShadowOfHarbringer on January 29, 2016, 02:45:58 PM I am discussing very serious issues indeed. Namely, the corruption and obvious conflict of Interest of BitcoinCore and Blockstream.



In that case you should of course have worked out that the Core Devs do not all work for Blockstream (not even half of them do).



So what about the other half of them?



In that case you should of course have worked out that the Core Devs do not all work for Blockstream (not even half of them do).So what about the other half of them?

I don't know why they can't simply work on the 2MB forked chain. It's not like they are stuck supporting a defunct 1MB chain if it goes that way. Any developer in it for the good of Bitcoin would simply start working on code for the new chain.



Any developer in it for themselves (or profit, IE Blockstream devs) would complain and/or quit. We see that already. Tell me, if they are in it for the good of Bitcoin, why on Earth would they quit instead of trying to make the new fork the best it can possibly be? I don't know why they can't simply work on the 2MB forked chain. It's not like they are stuck supporting a defunct 1MB chain if it goes that way. Any developer in it for the good of Bitcoin would simply start working on code for the new chain.Any developer in it for themselves (or profit, IE Blockstream devs) would complain and/or quit. We see that already. Tell me, if they are in it for the good of Bitcoin, why on Earth would they quit instead of trying to make the new fork the best it can possibly be? "The past is a foreign country: they do things differently there."



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LegendaryActivity: 1442Merit: 1000 Re: Wondering out loud: Which should Chinese miners support - Core, Classic or another? January 29, 2016, 03:04:42 PM #69 Quote from: hdbuck on January 29, 2016, 02:57:47 PM It's frightening too see huge miners so poorly informed about the protocol they are working for.



Basically, if you secede onto a fork that is contentious , breaking bitcoin's consensus , you'll loose money. we all loose money (and maybe Bitcoin).



Simple as that.



Umm, no. Only the weaker branch without the economic majority can lose money and even that's fairly hard to do.



Presuming Classic BIP is the one we are talking about:



Step 1) 750/1000 blocks mined indicating support

Step 2) 28 days pass

Step 3) At some point a miner creates a >1.0 MB block

Step 4) Either miners build off this larger block or reject it, continuing on the 1MB chain

Coinbase/BitPay/Bitfinex/etc have all indicated whether or not they accept larger blocks

Step 5) Miners stop mining on whichever chain ends up shortest. Doing anything else loses them piles of short term money.

Step 6) end of story...anyone on the wrong side of the fork will stop seeing new blocks



Any miner here want to commit to mining on the minority chain?

Umm, no. Only the weaker branch without the economic majority can lose money and even that's fairly hard to do.Presuming Classic BIP is the one we are talking about:Step 1) 750/1000 blocks mined indicating supportStep 2) 28 days passStep 3) At some point a miner creates a >1.0 MB blockStep 4) Either miners build off this larger block or reject it, continuing on the 1MB chainCoinbase/BitPay/Bitfinex/etc have all indicated whether or not they accept larger blocksStep 5) Miners stop mining on whichever chain ends up shortest. Doing anything else loses them piles of short term money.Step 6) end of story...anyone on the wrong side of the fork will stop seeing new blocksAny miner here want to commit to mining on the minority chain? Reputation thread: https://bitcointalk.org/index.php?topic=404667.0

hdbuck



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LegendaryActivity: 1274Merit: 1002 Re: Wondering out loud: Which should Chinese miners support - Core, Classic or another? January 29, 2016, 03:09:52 PM #75 Quote from: canth on January 29, 2016, 03:04:42 PM Quote from: hdbuck on January 29, 2016, 02:57:47 PM It's frightening too see huge miners so poorly informed about the protocol they are working for.



Basically, if you secede onto a fork that is contentious , breaking bitcoin's consensus , you'll loose money. we all loose money (and maybe Bitcoin).



Simple as that.



Umm, no. Only the weaker branch without the economic majority can lose money and even that's fairly hard to do.



Presuming Classic BIP is the one we are talking about:



Step 1) 750/1000 blocks mined indicating support

Step 2) 28 days pass

Step 3) At some point a miner creates a >1.0 MB block

Step 4) Either miners build off this larger block or reject it, continuing on the 1MB chain

Coinbase/BitPay/Bitfinex/etc have all indicated whether or not they accept larger blocks

Step 5) Miners stop mining on whichever chain ends up shortest. Doing anything else loses them piles of short term money.

Step 6) end of story...anyone on the wrong side of the fork will stop seeing new blocks



Any miner here want to commit to mining on the minority chain?



Umm, no. Only the weaker branch without the economic majority can lose money and even that's fairly hard to do.Presuming Classic BIP is the one we are talking about:Step 1) 750/1000 blocks mined indicating supportStep 2) 28 days passStep 3) At some point a miner creates a >1.0 MB blockStep 4) Either miners build off this larger block or reject it, continuing on the 1MB chainCoinbase/BitPay/Bitfinex/etc have all indicated whether or not they accept larger blocksStep 5) Miners stop mining on whichever chain ends up shortest. Doing anything else loses them piles of short term money.Step 6) end of story...anyone on the wrong side of the fork will stop seeing new blocksAny miner here want to commit to mining on the minority chain?

You dont knwo what you are talking about.



It is not about a chain with most VCs backed useless startups, or clueless powerful miners, that shall necessarily be considered VALID.

It is purely ideological in fact, and it is quite likely that bitcoiners would not give a damn about some Coinbase, pardon GoldmanSachsCoin.



The ones that will break consensus will end up bankrupt on their forked shitcoin. Its pretty obvious. You dont knwo what you are talking about.It is not about a chain with most VCs backed useless startups, or clueless powerful miners, that shall necessarily be considered VALID.It is purely ideological in fact, and it is quite likely that bitcoiners would not give a damn about some Coinbase, pardon GoldmanSachsCoin.The ones that will break consensus will end up bankrupt on their forked shitcoin. Its pretty obvious.