Re:Lightning Network: Scalable, Instant Bitcoin/Blockchain T...
by sanswork on Thursday July 14, 2016 @01:34AM
(#12091861)
>They can refuse to update core.
Doesn't matter the majority of users have moved to the new fork. That becomes the new core.
>They can say that they have 10% of the mining power and threaten to not move over to the hard fork.
Why would this matter? That 10% of miners will move over quickly or lose money by mining on a fork with no value.
>Basically, they can scare people into thinking that there is going to be two separate, competing chains.
There would be but since the majority of users and miners and companies want the one you want theirs would be losing right?
>This would cause prices to crash , and crash hard.
Why? If the vast majority want the change then they will just continue on as normal. It's only the people still using the old fork that will have problems.
None of these problems exist if the majority truely wants the change.
Re:Lightning Network: Scalable, Instant Bitcoin/Blockchain T...
by nullc on Thursday July 14, 2016 @04:40AM
(#12092424)
If it's a simple majority then that isn't true, a 50/50 split of the economy or hashrate would be pretty devastating. But if it were overwhelming, what you argue would hold.
Doesn't matter the majority of users have moved to the new fork. That becomes the new core.
>They can say that they have 10% of the mining power and threaten to not move over to the hard fork.
Why would this matter? That 10% of miners will move over quickly or lose money by mining on a fork with no value.
>Basically, they can scare people into thinking that there is going to be two separate, competing chains.
There would be but since the majority of users and miners and companies want the one you want theirs would be losing right?
>This would cause prices to crash , and crash hard.
Why? If the vast majority want the change then they will just continue on as normal. It's only the people still using the old fork that will have problems.
None of these problems exist if the majority truely wants the change.