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RE: Will a SegWit2x coin survive?

in #bitcoin8 years ago

It will be very unprofitable while mining BTC will be much more profitable due to the drop in hashrate on the BTC chain
There is a catch here. Bitcoin minting reward could be claimed after a few dosens of blocks IIRC. If 80% of hashrate goes to b2x chain then bcore slows down 5 times - before the difficulty recalc. So the miner choose between claim 1500 in weeks or 7500 in months.

Also there are periods of time when large miners minted at loss compared to bitcoin reward. BCash miners did that.

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Thats a gamble on the miners behalf. BCash implemented replay protection, which resulted in two coins that people freely traded. I think the lack of replay protection is what will be a driving force within the user community. The miners will make their choice on the prediction of what the users will do. It should be easy enough for a miner to switch from one to another, but still sometime is needed to shut down, swap the code and bring it back online.

Not being a miner, or a large user of BTC (other than speculating money on it), its difficult to say which way we are heading, because the reality is that the user community (traders and alike) could go any which way...even by accident.

I'm afraid but like them on not, in the end miners will decide what chain everybody uses.
User community or devs or even exchandes hasn't veto rule. miners have.

  • Miners are the supply.
  • Users are the demand.
  • Nodes specify what the users are demanding.
  • Miners work to fulfill that specification.

https://hackernoon.com/money-is-a-social-construct-and-thats-why-you-should-run-a-bitcoin-full-node-ea0330cb69a5

You know, now that I think about it, you're right. Thats because its easier to mobilize all the miners to follow one path then it is to mobilize all the users to follow. The miners can meet and say HEY THIS IS WHAT WE'LL DO SINCE WE ARE MAKING MONEY MOST FROM HERE!!!

The users will just be screaming at each other till the cows come home.