Bitcoin's "flippening"

[GreyWyvern]

I was going to post this on Twitter, but it got a little bit too long Exciting times happening in the Bitcoin ecosystem in the next 24-48 hours.

The hour of reckoning is coming for Bitcoin. Very soon it will be more profitable for miners to mine the Bitcoin Cash chain. Coincidentally, the #Bitcoin chain will also be entering a new series of 2016 blocks at a higher hashpower difficulty level.

This means the only thing tethering the miners to Bitcoin is their commitment to Segwit2x which Core devs still vehemently oppose. Miners could very well take Core's vitriol as indication that the 2x part of the New York Agreement (NYA) will not be respected. If miners decide to shift en-masse to the Bitcoin Cash chain, Bitcoin has NO MEANS to enact emergency hashpower difficulty reductions like Bitcoin Cash does.

Unable to reduce difficulty for 2016 blocks, the generation of new Bitcoin blocks may slow, causing a positive feedback loop:
- Miners move to Bitcoin Cash
- Bitcoin loses hashpower, slows and becomes less profitable
- Causing more miners to move to Bitcoin Cash

Without an emergency relief valve, the end result is that Bitcoin block generation (and monetary value) trends to ZERO. While Bitcoin Cash takes up the liquidity and skyrockets in value. A "flippening," to steal a neologism from our ETH friends.

This may not happen immediately, because some miners are ideologically dedicated to Segwit and will mine it well after it becomes unprofitable. However, eventually market forces will prevail. Miners will not waste hashpower on a losing chain forever. Food for thought.

We shall see what happens!

[GreyWyvern]

Here's a good article going into more detail:

BTC Is Dead, Long Live BTC - Updated and Explained ELI5

http://bitcoinandtheblockchain.blogspot ... d-and.html

[rogerver]

I'm also very very interested to see how this plays out. I do think it is a bit too early though. Bitcoin Cash needs more time to develop wallets, merchant services and other infrastructure so that if a Bitcoin Core to Bitcoin Cash flippening does occur, all the Infrastructure must be in place and ready to except all the new incoming users. I also suspect the flippening is much less likely to happen if all that infrastructure isn't already in place. It is a bit like the chicken and egg problem bitcoin faced in the early days.

[GreyWyvern]

I'm also very very interested to see how this plays out. I do think it is a bit too early though. Bitcoin Cash needs more time to develop wallets,

I'm still waiting on yours!

[rogerver]

I'm also very very interested to see how this plays out. I do think it is a bit too early though. Bitcoin Cash needs more time to develop wallets,

I'm still waiting on yours!

I'm still waiting on the devs!

But don't forget to install the current version!
Bitcoin.com wallet

[Neoclassical]

Why does reddit and 4chan insist on putting "ing" cutesy endings on every word?

happening, flippening, fappening, etc...?

[rizzlarolla]

Why does reddit and 4chan insist on putting "ing" cutesy endings on every word?
happening, flippening, fappening, etc...?

Why do you bother posting 1 or 2 line spam? constantly?
Have you nothing to say, nothing to teach, nothing to ask, nothing to learn? (about Bitcoin)
No problem, your 1 of the least offensive spam accounts, but they bring their own problems, like me going off topic here, derailing discussion, censorship through inanity, boredom, frustration, repetition. Just as theymos does. Can't understand why it is tolerated generally.

Like i said, no problem. Ver loves shit accounts. As proven by the 4 bytc comp joke he played.

Anyway, i digress, good post grey. Although the implementation of cash does not sit well with me, i fully support big blocks, and with the nutters at core bending every angle of Bitcoin history, present and future, i guess this cash approach is fair game.
I own exact amounts of both coins, so i am involved and covered.

I'm also very very interested to see how this plays out. I do think it is a bit too early though. Bitcoin Cash needs more time to develop wallets, merchant services and other infrastructure so that if a Bitcoin Core to Bitcoin Cash flippening does occur, all the Infrastructure must be in place and ready to except all the new incoming users. I also suspect the flippening is much less likely to happen if all that infrastructure isn't already in place. It is a bit like the chicken and egg problem bitcoin faced in the early days.

Exactly what i was thinking. Easy does it for now. Don't leave the user behind.

Also, don't start adding shit. keep it clean. Big blocks.
No rush with big blocks. Then make blocks bigger.

[lethos3]

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[bitkilo]

Why does reddit and 4chan insist on putting "ing" cutesy endings on every word?
happening, flippening, fappening, etc...?

Why do you bother posting 1 or 2 line spam? constantly?
Have you nothing to say, nothing to teach, nothing to ask, nothing to learn? (about Bitcoin)
No problem, your 1 of the least offensive spam accounts, but they bring their own problems, like me going off topic here, derailing discussion, censorship through inanity, boredom, frustration, repetition. Just as theymos does. Can't understand why it is tolerated generally.

I know that user mainly just posts 1 liners but why should i ban him for doing that? He is doing nothing wrong.

[rizzlarolla]

Why does reddit and 4chan insist on putting "ing" cutesy endings on every word?
happening, flippening, fappening, etc...?

Why do you bother posting 1 or 2 line spam? constantly?
Have you nothing to say, nothing to teach, nothing to ask, nothing to learn? (about Bitcoin)
No problem, your 1 of the least offensive spam accounts, but they bring their own problems, like me going off topic here, derailing discussion, censorship through inanity, boredom, frustration, repetition. Just as theymos does. Can't understand why it is tolerated generally.

I know that user mainly just posts 1 liners but why should i ban him for doing that? He is doing nothing wrong.

Part 1 of 2. Where did i say ban him?
(i'm now reading i'm welcome back else where, so am checking, grump on hold)

[bitkilo]

Why do you bother posting 1 or 2 line spam? constantly?
Have you nothing to say, nothing to teach, nothing to ask, nothing to learn? (about Bitcoin)
No problem, your 1 of the least offensive spam accounts, but they bring their own problems, like me going off topic here, derailing discussion, censorship through inanity, boredom, frustration, repetition. Just as theymos does. Can't understand why it is tolerated generally.

I know that user mainly just posts 1 liners but why should i ban him for doing that? He is doing nothing wrong.

Part 1 of 2. Where did i say ban him?
(i'm now reading i'm welcome back else where, so am checking, grump on hold)

Of course you are welcome here, i don't know why you would think otherwise.

Re the above, i just assumed that you ment ban them when you said "can't understand why it's tolerated"
I do send out PM's to some users that look as though they are just spamming referral links telling them to cut it out, most do and those that don't get banned.

I have banned Neoclassical for 1 month for grave digging old threads and posting what are often off topic replies.
He ignored my warnings and continued to act as usual so was banned.
If his first coupleof posts when back show that he has not changed i will ban the account permanently.

[cryptobit]

This is right in every aspect. As we could see what happened when Bitcoin cash generated the rate went shooting high and now it has come to less profitable area. But all I can see is the big ones playing with it knowing the potential, including the miners. Once they realize bitcoin split is over then the real Btc-Bcc war starts.