7 ms·
Except your clone doesn't have miner support, community support, and get listed by major exchanges. I hate that people are acting like anyone can just go and ma
by tpallarino 9y ago
Except your clone doesn't have miner support, community support, and get listed by major exchanges. I hate that people are acting like anyone can just go and make a fork for free money.
- jmah 9y agoThe point is, what's the threshold for "enough support"? Already for Bitcoin Cash, different exchanges have come to different conclusions on whether it's sufficiently supported to list on their exchange.
- tpallarino 9y agoThere is no threshold, it's clearly a gradient. Some exchanges want to list it, others don't. Certain exchanges listing it gives it more value than others, and if it's impossible to trade/spend, then the coin has 0 value.
- supermdguy 9y agoEnough support that someone's willing to exchange cash for a "coin" from your bitcoin fork.
- kerkeslager 9y agoI'm not sure what you're saying here. Are you claiming that Bitcoin Cash doesn't have those things? Or are you saying that those things are important factors which differentiate Bitcoin Cash from other forks?
- tpallarino 9y ago"Nothing stops me from just announcing that I've cloned a copy of the bitcoin blockchain for BCM" You can't just make random forks and have them be worth something. This is the culmination of years worth of debate and has a significant community following.
- bduerst 9y agoAren't all the alt-coins examples of this happening? That anyone can fork a blockchain and give it their own rules? The market value of a coin isn't limited to a strict mathematical function of mining power or exchanges backing it. That's the point Matt is making.
- mabbo 9y agoBefore Bitcoin Cash, all (afaik) other alt-coins weren't based on BTC's blockchain history. Ethereum, for example, raised development money by selling off the early coins on the chain.
- bduerst 9y agoWhat about Bitcoin Classic and Bitcoin XT? Also isn't that splitting hairs about requiring the blockchain history? I don't think Matt said that.
- Buge 9y agoIf you don't share blockchain history, then you don't automatically get some of the new coin by holding some of the previous coin. So there are no issues with exchanges and shorts. Also if you do share history, it is much much harder to start, because you start off with the previous difficulty which is very hard to mine on. If you start a new altcoin with a clean history, the difficulty starts off very low. Bitcoin Classic and Bitcoin XT have not actually forked the blockchain. So they are not separate coins yet.
- bduerst 9y agoXT and Classic did fork the blockchain and had the history though, meaning for a time they were an alt-coin with history. That's completely counter intuitive to what you're saying about Matt's example not having a history.
- 9y ago
- thisisit 9y agoOh, but they can. Here's what this whole drama has proven: Any one can fork a coin. Then attach a significant market value to the given fork by promoting it heavily. Or if required they can do it after the fact - They can be on the buy-side and creating an ever increasing bid to pump the fork. As for the support, you will have human greed play a big role. Everyone holding x coin gets 1 x coin + 1 fork coin with significant value which means it will create some market as well as intice miners to mine a coin with much smaller difficulty.
- Grangar 9y agoIf you own a big mining pool you can get support. And with a simple propaganda campaign you can get people to support your fork much like BCH.