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@RHavar /forks.md Secret
Last active Oct 28, 2017

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Bustabit Statement on Bitcoin Forks

https://www.bustabit.com/statement-on-forks

There are two potential bitcoin forks on the horizon:

segwit2x and bitcoin gold

With segwit2x we will guarantee all user funds on both sides of the fork. In order to do so, we may have to temporarily suspend deposits and withdrawals while we split our coins. After the split, we intend to exclusively use which ever side has the most economic support (based on consistently higher value across liquid exchanges). At the moment, it strongly appears that this will be the original chain based on bitfinex's future prices: https://www.bitfinex.com/order_book/bt2btc

The other potential fork is bitcoin gold. We do not view this as a legitimate fork due to a premine ( https://github.com/BTCGPU/BTCGPU/pull/2/commits/925606b6cba5e866026fd7726a75470384ed8782 ), and have no intention of supporting it.

shesek commented Mar 19, 2017

We will follow the chain with the most proof of work.

Does that apply for the case of an hostile hard-fork initiated by the miners to switch to BU?

dooglus commented Mar 19, 2017

and make BCU coins available for withdrawal

I think the term the exchanges propose is "BTU".

BCU is the name of a token BitFinex are using to allow people to dump their potential BTU before any fork happens.

We will follow the chain with the most proof of work.

Does that apply for the case of an hostile hard-fork initiated by the miners to switch to BU?

Presumably he means the longest valid chain, not just the longest chain. That means the chain has to follow the Bitcoin consensus rules. That rules out any BU hard fork, since that will presumably include blocks breaking the million byte limit rule.

Owner

RHavar commented Mar 20, 2017

@dooglus: Thanks, updated to BTU.

@shesek: That is specifically for the "UASF" part, as in there are two branches that follow the consensus rules -- bustabit will follow the one with the most work.

Is it true, that you are against BIP148 at https://coin.dance/poli ?

Owner

RHavar commented Apr 11, 2017

@lichtamberg since the discover of covert asicboost, I've softened my position somewhat. I've revised the section on UASF: https://gist.github.com/RHavar/1735237f52ae1bf919fb1773046f8a5b/revisions?short_path=f298864#diff-f2988643b7a883ff301620247817a72e

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