4 ms·
My guess is that a split of any initial ratio (even 50-50) will quickly converge to 90%+ of all users on one side. Quickly, as in minutes to hours. Also, by "u
by keyme 9y ago
My guess is that a split of any initial ratio (even 50-50) will quickly converge to 90%+ of all users on one side. Quickly, as in minutes to hours.
Also, by "users", I don't mean holders. I mean entities that actually transact bitcoin on a daily basis. Exchanges and merchants. They can't afford to lose any time (money) on waiting for their favorite chain to win. They have to use the longest chain (and they are the only ones that matter).
Seeing that there is no way in hell the initial split will be anything worse than 75-25 (against Core), I predict that the price will quickly stabilize on the markets after the initial panic (which is already underway, IMHO).
The value of "bitcoin" (the winning side) after the split (and recovery from panic) will have lost an amount equivalent to what "minority coin" is worth at the time (if anything).
- Taek 9y agoExchanges and merchants transact... with users. Also, you definitely don't have to use the longest chain. That's one of the key innovations if Bitcoin, you only follow the longest chain that your node sees as valid. At the moment of the split, most nodes will not see the 2x chain as valid, so they will not follow it even if it is the longest chain. But those nodes will keep working.