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If Bitcoin softforks and we get #drivechains (that don’t effect you, your node, or the lightning network), and everyone tells you to switch to a different version of Bitcoin to save it like our heroes in the blocksize wars, would you do it? If the price of the softfork goes down, will you make the switch?

'If there was another fork, BlackRock’s ETF prospectus says it gets to decide which of the two cryptocurrencies is the “real Bitcoin,” despite what investors or other users of the blockchain think, Lubka said. This likely would lead the firm to dump all of its holdings in whichever coin isn’t selected.

“If they’re sitting on 5 million Bitcoin, that means they’re going to sell 5 million of the other fork,” Lubka said. “They’re going to tank the price.”'

https://fortune.com/crypto/2023/06/27/blackrock-bitcoin-spot-etf-wall-street-influence/amp/

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Discussion

bitcoinist 2y ago

You can always keep both, it doesn’t cost you anything.

BTCapsule 🏴 2y ago

Right, but if you run a node, you have to choose which software to accept. You either upgrade to the softfork and continue monitoring, keep it on the old fork and do nothing, or you switch to a brand new version.

bitcoinist 2y ago

I never upgrade my node, why would I? I never will. I like its current functionality, this is all I need, if it stops working: I was wrong and I will research at that point what options are available. Until that point in the future (if that happens, which is a big if) all of this is just noise. And if it was a fork I will find a way to extract my corn from it. I don’t see any reasons for concern here. They can all fork off as they wish.

BTCapsule 🏴 2y ago

Yes, I hope more people feel this way. There’s no reason to upgrade, and if drivechains are added, you’ll never see it.

Melvin Carvalho 2y ago

A fork in Bitcoin demands overwhelming consensus. Currently, there's no significant majority supporting this fork, especially among miners. Miners see little advantage in opposing Bitcoin. Should concerns arise about miners doing something bad, counteractive BIPs can be promptly introduced.

It's intriguing to strategize about unwanted fork attempts. In such scenarios, we should remain composed and implement countermeasures.

Note that a mere 6% of alarm votes can halt any side chain's creation, and all side chains can be discontinued. This initiative may take years to gain traction and can be easily reversed.

BTCapsule 🏴 2y ago

Yes, I don’t care if drivechains never work and people lose a little money to figure that out. That’s a free market. I just don’t see any reason to upgrade whatsoever.

What would these counteractive BIPS be? Could they be a softfork from the Bitcoin that already has drivechains?

DopeMind 2y ago

nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx what do you think about above scenario. nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak is that possible?

Oftening 2y ago

You don't change Bitcoin, Bitcoin changes you.

nostr:nevent1qqsdrsh96wr7nu9e9ljmmdxvaflnuedexvgjk984j5lj5g0442js04cppamhxue69uhkummnw3ezumt0d5pzqe5vamj4ga04jhkqarh5f3jtl8dgm8wkqz9v2nwdyje9qxfsh9swqvzqqqqqqyjauess

#asknostr

If a proposed change doesn't affect me, what incentive do I have to vote it positively? Do I owe anything to anyone?

Oftening 2y ago

You don't change Bitcoin, Bitcoin changes you.

nostr:nevent1qqsdrsh96wr7nu9e9ljmmdxvaflnuedexvgjk984j5lj5g0442js04cppamhxue69uhkummnw3ezumt0d5pzqe5vamj4ga04jhkqarh5f3jtl8dgm8wkqz9v2nwdyje9qxfsh9swqvzqqqqqqyjauess

#asknostr

If a proposed change doesn't affect me, what incentive do I have to vote it positively? Do I owe anything to anyone?

Sovereign Matt 2y ago

Wait til the pull request final draft is completed. Only bip300 draft has be written so far. There is also bip301 bum which is part of drivechain.

I would wait before speculating on such things.