3 ms·

So basically this guy is forking bitcoin, causing contention between miners, etc, and now is making a new coin that allows him to profit from that contention?

jdhn 9y ago
Pretty much. Also, this new coin sounds like a version of atomic swaps.
- wyldfire 9y ago
  I'm looking forward to atomic swaps, but in the meantime I will endorse https://shapeshift.io/ https://shapeshift.io/ -- it's a remarkably convenient and simple exchange. I found it far easier to use than bitsquare and far superior liquidity.
  - kobeya 9y ago
    Atomic swaps have worked from day one, if people would just use them.
    - wyldfire 9y ago
      Really? Can you refer me to where I can read more?
      - kobeya 9y ago
        On mobile, but I believe there is a wiki page describing how to do cross chain atomic swaps using bitcoin script.
        wakamoleguy 9y ago
        https://en.bitcoin.it/wiki/Atomic_cross-chain_trading https://en.bitcoin.it/wiki/Atomic_cross-chain_trading This wiki article describes an atomic swap process. I believe the largest issue with that process is that it takes multiple steps. Those steps can be reversed if the process is halted (and are therefore atomic). However, needing to transmit to the network multiple times and wait before continuing makes it a hassle to carry out manually. That leads to either wallets or trusted third parties completing the transaction for you so you don't have to sit and wait.
        kobeya 9y ago
        Edit: I should’ve said I know it is possible, as I have done it before, and that I believe there is a wiki page explaining how.
- VMG 9y ago
  Unclear how his solution improves on Lightning Network: https://bitcoinmagazine.com/articles/atomic-swaps-how-the-lightning-network-extends-to-altcoins-1484157052/ https://bitcoinmagazine.com/articles/atomic-swaps-how-the-li...
jhall1468 9y ago
Create a problem, then offer a solution. In this case, invent a problem that doesn't exist, and your solution is one among a sea of shitty pre-mined Ethereum ICOs. It's pretty sad, really.
- sitepodmatt 9y ago
  nail on the head..
- dabockster 9y ago
  Meanwhile, blockchain is actually a pretty nice data structure on its own. But no, everyone builds off ETH so they can hype their pre-mine.
  - rothbardrand 9y ago
    Economic incentives matter. Bitcoin has them right for making itself "digital gold"... but ethereum discovered the "be your own virtual altcoin at almost no cost and raise a bunch of money" application.
ishtu 9y ago
divide and conquer that is
uncletammy 9y ago
> So basically this guy is forking bitcoin Nope. ~80% of miners, 90% of Bitcoin businesses, and at least half of the community are forking Bitcoin. Jeff just happens to be the lead developer for the new client. The contention has been there for years and it's been fueled by the horrific sensorship on the main communication channels. This is sad to see though. I don't know how he'll find time to juggle both of these projects.
- chabes 9y ago
  > at least half of the community source?
- rothbardrand 9y ago
  There's no evidence of that, more than %90 of miners are running core, and there are more businesses opposed to 2x than endorsing it: http://nob2x.org http://nob2x.org Meanwhile "signers" of the New York "Agreement"[1] are dropping like flies, most recent Coinbase that says they will support the core chain. Hell the biggest "proponents" of 2X aren't willing to risk their own bitcoin in a swap (eg: Ver who has backed out of such promises in the past too with BCH) 2X is nothing but a scam to get suckers to sell BTC for B2X while people like Ver sell B2X to get more BTC! Its funny how the bitcoin haters talk about censorship-- reality is /r/bitcoin is not censored, but the entire 2x movement was done behind closed doors, with no peer review, with a heavily censored slack channel and mailing list-- that is if you can get on it in the first place... while bitcoin does all this in public. 2X hasn't had commits or serious work in months last I checked and I really feel sad for the people who bought the propaganda these scammers are selling. [1] It's not an agreement when only one side agreed with itself.
  - j_s 9y ago
    > reality is /r/bitcoin is not censored As a complete outsider not paying much attention this is the first time I've ever seen anyone try to make this claim, it seems easily disproven.
    - rothbardrand 9y ago
deadmetheny 9y ago
Yup. This is good for Bitcoin.

jdhn 9y ago

Pretty much. Also, this new coin sounds like a version of atomic swaps.

wyldfire 9y ago
I'm looking forward to atomic swaps, but in the meantime I will endorse https://shapeshift.io/ https://shapeshift.io/ -- it's a remarkably convenient and simple exchange. I found it far easier to use than bitsquare and far superior liquidity.
- kobeya 9y ago
  Atomic swaps have worked from day one, if people would just use them.
  - wyldfire 9y ago
    Really? Can you refer me to where I can read more?
    - kobeya 9y ago
      On mobile, but I believe there is a wiki page describing how to do cross chain atomic swaps using bitcoin script.
      - wakamoleguy 9y ago
        https://en.bitcoin.it/wiki/Atomic_cross-chain_trading https://en.bitcoin.it/wiki/Atomic_cross-chain_trading This wiki article describes an atomic swap process. I believe the largest issue with that process is that it takes multiple steps. Those steps can be reversed if the process is halted (and are therefore atomic). However, needing to transmit to the network multiple times and wait before continuing makes it a hassle to carry out manually. That leads to either wallets or trusted third parties completing the transaction for you so you don't have to sit and wait.
      - kobeya 9y ago
        Edit: I should’ve said I know it is possible, as I have done it before, and that I believe there is a wiki page explaining how.
VMG 9y ago
Unclear how his solution improves on Lightning Network: https://bitcoinmagazine.com/articles/atomic-swaps-how-the-lightning-network-extends-to-altcoins-1484157052/ https://bitcoinmagazine.com/articles/atomic-swaps-how-the-li...

jhall1468 9y ago

Create a problem, then offer a solution. In this case, invent a problem that doesn't exist, and your solution is one among a sea of shitty pre-mined Ethereum ICOs. It's pretty sad, really.

sitepodmatt 9y ago
nail on the head..
dabockster 9y ago
Meanwhile, blockchain is actually a pretty nice data structure on its own. But no, everyone builds off ETH so they can hype their pre-mine.
- rothbardrand 9y ago
  Economic incentives matter. Bitcoin has them right for making itself "digital gold"... but ethereum discovered the "be your own virtual altcoin at almost no cost and raise a bunch of money" application.

ishtu 9y ago

divide and conquer that is

uncletammy 9y ago

> So basically this guy is forking bitcoin Nope. ~80% of miners, 90% of Bitcoin businesses, and at least half of the community are forking Bitcoin. Jeff just happens to be the lead developer for the new client. The contention has been there for years and it's been fueled by the horrific sensorship on the main communication channels. This is sad to see though. I don't know how he'll find time to juggle both of these projects.

chabes 9y ago
> at least half of the community source?
rothbardrand 9y ago
There's no evidence of that, more than %90 of miners are running core, and there are more businesses opposed to 2x than endorsing it: http://nob2x.org http://nob2x.org Meanwhile "signers" of the New York "Agreement"[1] are dropping like flies, most recent Coinbase that says they will support the core chain. Hell the biggest "proponents" of 2X aren't willing to risk their own bitcoin in a swap (eg: Ver who has backed out of such promises in the past too with BCH) 2X is nothing but a scam to get suckers to sell BTC for B2X while people like Ver sell B2X to get more BTC! Its funny how the bitcoin haters talk about censorship-- reality is /r/bitcoin is not censored, but the entire 2x movement was done behind closed doors, with no peer review, with a heavily censored slack channel and mailing list-- that is if you can get on it in the first place... while bitcoin does all this in public. 2X hasn't had commits or serious work in months last I checked and I really feel sad for the people who bought the propaganda these scammers are selling. [1] It's not an agreement when only one side agreed with itself.
- j_s 9y ago
  > reality is /r/bitcoin is not censored As a complete outsider not paying much attention this is the first time I've ever seen anyone try to make this claim, it seems easily disproven.
  - rothbardrand 9y ago

deadmetheny 9y ago

Yup. This is good for Bitcoin.