[Bitcoin-segwit2x] PROPOSAL: B0RG (Bitcoin zero replay, guarantee) - Ensuring a smooth 2X upgrade without a chain split

Samuel Reed sam at bitmex.com
Tue Oct 24 15:31:43 UTC 2017


Another lesson to be learned from BCH is that incentives matter - where
miners can sell coins depends on markets, and market prices depend on
user and exchange support. Even if the 80% of miners signaling 2x at
this time choose to go forward, if there are not viable markets willing
to buy 2x coins at near 1x prices, 2x hash power will quickly revert to
the old chain.

Peter wrote:
>
>
> On Oct 24, 2017 10:58 AM, "Chris Stewart via Bitcoin-segwit2x"
> <bitcoin-segwit2x at lists.linuxfoundation.org
> <mailto:bitcoin-segwit2x at lists.linuxfoundation.org>> wrote:
>
>     >RP that encourages a network split would render the NYA voidable
>
>     Phillip, if there is consensus on one thing, it is there is going
>     to be a network split. Every exchange is publishing policies for
>     the chain split. Some even saying that they will not support the
>     segwit2x token.
>
>     -Chris
>
>
> The technical lesson from the BCH fork was that 1 hash = 1 vote.
> Nothing any exchange (or custodian) said mattered. Indeed because
> significant sha256 hashpower was deployed towards the fork it gained
> value and customers of exchanges pressured the exchanges into the
> financially sensible decision. 
>
> This proposal, SegWit2x, is for the miners to decide. 
>
> Transaction selection is not a consensus rule. Any miners that want to
> go against the Nakamoto signaling is free to do so and the responsible
> party (not the 2x devs who have no control over transaction
> selection). If because of the political climate some miner sees an
> economic opportunity to resurrect the legacy chain then they can
> modify their node (without consensus change) to listen to 2x blocks
> and not mine any transaction IDs found in the 2x chain. 
>
> Additionally, to complete a safe chain resurrection such a miner can
> airdrop the mining reward from the forked block (after 100 depth) and
> send it to to all addresses with UTXOs over $x value. So that users of
> the 1x chain can spend the combined UTXOs which cannot be replayed on
> 2x, as a simple splitting solution. 
>
> Safety efforts which do not require consensus changes should be
> exhausted first before suggesting consensus changes. 
>
> Regards 
> Peter
>
>

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