The chinks are going to push BTC Unlimited

TalkBomber
TalkBomber

The people that hold major hashing power are gonna go full Unlimited.
This means there will be a huge dip, ETH will thrive and then the Unlimited nodes will gain control and we will go back to easy transactions and mass adoptions for Bitcoin and reach the moon.

What's your plans Veeky Forums, are you gonna dump and shill ETH or just buy the dip?

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youtube.com/watch?v=ncPyMUfNyVM

StrangeWizard
StrangeWizard

What does Unlimited entail?

Poker_Star
Poker_Star

unlimited block size
it's a bad development team pushing bad code
recently their nodes had a vulnerability that shut 80% of them down until it was patched
a month or so ago a BU miner tried to propagate an invalid block, it was dropped from the network
It's basically a cheap fix to the blocksize issue pushed by a bad development team and shit posters
sadly it might actually damage bitcoin until everything is settled
the greedy miners don't want 2nd level transactions (segwit/LN) because they want all the transaction fees

Snarelure
Snarelure

Chinks have no matter in price change faggot kys

SniperWish
SniperWish

yeah chinese who are one of the biggest supporters of ecurrency have no effect
the PBoC announcements have no effect
the biggest ASIC chip producing country has no effect

sadly the chinese are a huge part of bitcoin
which is why I do support algorithms that favor GPU miners, they're mining power is more distributed

BlogWobbles
BlogWobbles

their ^ :/

Ignoramus
Ignoramus

recently their nodes had a vulnerability that shut 80% of them down until it was patched
it was patched

More like
BU team patches it
Core dev sees the changes mentioned and posts it on twitter
people that hadnt updated are affected
claim BU is incompetent

oy vey good goyim, stick to the 1mb blocks and 5$ fees. Don't ask about the Roths financing Blockstream go- I mean Core developers!
Also do not mention that the core devs told the chinese miners to fuck off and not give the coin any more value

Sir_Gallonhead
Sir_Gallonhead

Also do not mention that the core devs told the chinese miners to fuck off and not give the coin any more value
what is this about?

oy vey good goyim, stick to the 1mb blocks and 5$ fees
who's collecting those fees? the miners
who's blocking segwit? the miners
segwit is an upgrade to 1.7mb and 2nd level transactions so I'm not supporting what it is now

viagrandad
viagrandad

segwit is an upgrade to 1.7mb
1.7mb
and reduce miner profit ratio

so you want to kill bitcoin?

happy_sad
happy_sad

the miners want to control the blocksize and block any competition for transaction verification
blockstream was financing core developers because they probably see a future in 2nd level transaction verification
if the miners have unlimited control they could also decide to change the inflation percentage through a hardfork

w8t4u
w8t4u

it's going to be interesting to see what ratio is the most efficient
making the blocksize bigger also reduces the the miner profit ratio

massdebater
massdebater

You forgetting that the fucking value of BTC will go up sustaining profit ratio?

lostmypassword
lostmypassword

if segwit was put through it would incentivize groups to hold and create payment channels
it's similar to what dash is doing with masternodes
this most likely would result in the price going up

VisualMaster
VisualMaster

Unlimited supporters will hard fork
BTC drops below $300
BTUnlimited now tied even more closely to Chinese government
BTUnlimited becomes increasingly inefficient and insignificant
Japanese stay true to the BTC and their involvement (transactions for real goods and services) will be the deciding force which will lift BTC from mud

screencap this

Ignoramus
Ignoramus

So what happens to the btc in my hardware wallet. How do i get BTU and BTC tokens, if this happens? Any of you have experience with ETH ETC Split?

Spazyfool
Spazyfool

As long as you hold the bitcoin "hardware wallet, cold wallet, etc" you will own coins on both chains
coins tied up in exchanges and other bitcoin services gbtc a future etf will only own the bitcoin that the service decides

Raving_Cute
Raving_Cute

The value won't go up with segwit?

Garbage Can Lid
Garbage Can Lid

Do you mean that the japs will go segwit?

w8t4u
w8t4u

I still am not sure how though, do I just receive the token of the off chain in a separate wallet?

TreeEater
TreeEater

I'm not positive, but I would guess you would download the forked chain's software BU and recover your coins into a BU supported wallet
while the original chain will function as normal

RumChicken
RumChicken

I dont understand the technical workings of bitcoin enough to have an opinion on this but is it true that the lightning network will allow bitcoin to handle transactions beyond visa levels? if thats the case then bitcoin really is the future.

Illusionz
Illusionz

Your ownership of the coins is simply the knowledge of a large hexadecimal number. When you backup your wallet this is all that is really happening, sure the software facilitates this in some ways to make it easier (ie. electrum).

Which chain you use depends on which network you are connected to as the network has the final consensus. This is facilitated by the software. Your ownership is just one or more groups of people saying, "yes xyz number possesses 10 coins".

Obviously everything that happened pre-fork will be present on both chains, but from that point onward they will diverge.

Well technically a third group could rewrite block chain history and try to get people to use their chain instead.

This is a good video on the subject. A 51% attack is pretty much a forced forking.
youtube.com/watch?v=ncPyMUfNyVM

girlDog
girlDog

Which chain you use depends on which network you are connected to as the network has the final consensus. This is facilitated by the software.
The software decides which network (servers) you are connecting to. So for simplicity you would basically just have two different wallets.

SomethingNew
SomethingNew

WHY DO THE CHINESE HAVE TO RUIN EVERYTHING FUCKING NIPS