Re: Gold collapsing. Bitcoin UP.

Quote from: vokain on August 16, 2015, 09:29:29 AM

If the economy splits without full consensus in either direction, then this may happen:

Quote

mircea_popescu: ben_vulpes if one block's large and the other small, all i need a tx that's included in the large block but not the small one. then doublespend it on the small one, which will be rejected necessarily by the large block blockchain.
mircea_popescu: now i have bitcoin separated in two addresses, one for each chain.
mircea_popescu: the attempt may fail, but the cost to me of this failure is not significant, so i can keep on trying until it succeeds.
mircea_popescu: the only way to guard against it is, obviously,for the ."large" chain to maintain 1:1 identity with the "small" one. because you don't just fork bitcoin.,
ben_vulpes: i still fail to see how you're going to make a txn that gets included in the large block chain and not the small block chain.
artifexd: ben_vulpes: You don't. You keep sending money to yourself until it happens.
mircea_popescu: ben_vulpes what do you mean ? it necessarily will occur.
mircea_popescu: since one contains more txn than the other by definition.
mircea_popescu: suppose i make 50k 1btc txn. they don't fit in a 1mn block. they do fit in a 10mb block. what now ?

If that happens, trouble for those on the fork and any businesses/entities that forked over without full consensus.

And the executives of any business which loses money by sticking their neck out in the first wave of XT acceptance are going to be sued into the ground by its furious shareholders.

Can you imagine explaining to your VC backers that you blew their investments in some extremely risky, easily avoided, political/ideological, e-peen measuring, nerd fight? The corporate veil would be swiftly pierced and you would be sued personally. You'd lose your house, and might even wind up in jail with roommates (ironically) nicknamed "Tiny" and "Little Bubba."