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

Charlie Shrem charlie at decentral.ca
Tue Oct 24 19:55:51 UTC 2017


​Peter,

that many people dont use bitcoin for payments - but as store of value - so
> they don’t care if there are long confirmation times (or even none in one
> week!)


​That absolutely makes no logical sense. ​From an economic perspective, the
reason Bitcoin is an amazing store of value is because its coupled as a
payment system as well.

If people cannot spend their Bitcoin when they want, its utility as a store
of value will massively decrease.

C
​harlie​


On Tue, Oct 24, 2017 at 3:41 PM, Peter BitcoinReminder.com via
Bitcoin-segwit2x <bitcoin-segwit2x at lists.linuxfoundation.org> wrote:

> You are also missing the point that many people dont use bitcoin for
> payments - but as store of value - so they don’t care if there are long
> confirmation times (or even none in one week!) - you only see it from the
> payment/transaction side, but this is not the case for many people which
> are motivated to stay and fight for bitcoin.
>
> Open your mind - there are many people which give a shit about
> confirmation times and fees.
>
> Am 24.10.2017 um 21:04 schrieb Erik Voorhees via Bitcoin-segwit2x <
> bitcoin-segwit2x at lists.linuxfoundation.org>:
>
> Peter - I disagree that 1x won’t have a market price. Exchanges can turn
> off all deposits and withdraws completely for a week and you’ll still see
> markets of both coins working, because there is already 1x and 2x in the
> exchanges (in large quantities).
>
>
>
> Kind regards,
> -Erik Voorhees
> CEO ShapeShift AG
>
> On October 24, 2017 at 12:59:28 PM, Peter (dizzle at pointbiz.com) wrote:
>
> I agree the minority chain will quickly grind to a halt. Pure SPV users
> will just want Bitcoin to work as Moe indicated. They won't know if they
> are on the 1x or 2x chain but what they will know is Bitcoin (BTC) still
> works and in 1 day 2x (BTC) will pass 100 blocks and have a market price
> and be usable by exchanges globally. The 1x chain will not have a market
> price for 5 days because it didn't reach the 100 block milestone to enable
> deposits and coin splitting. In that time it can die out. Also, it's likely
> to take an extra week or so for exchanges to get all their coin splitting
> transactions confirmed by mixing with 1x coinbases. Honeybadger won't care
> much and people won't want to say 1x is BTC because then they have to admit
> BTC had a 1 or 2 week service interruption.
>
> Sorry if this is not technical enough for the list.
>
> Regards
> Peter
>
>
>
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>
>
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