Even a guy like satoshi could dump his 1mn coin stash in BTCC by buying 5-10 alts, and then buying BTCs.
You really are worried about this, aren't you?
No I'm not worried the least about satoshi moving his coins. He's not here to daytrade etc. I'm just saying how it could go down between BTC < alts > BTCC with alts as a vehicle, without even needing to pass through $$$.
What's bizarre is that you are adding an extra step. Say miners choose to fork to classic's 2MB, Core changes the PoW and lowers difficulty through their own hard fork... What's preventing an altcoin exchange from listing CoreCoins with all the other alts? (Your argument actually presupposes that they
do.) The step of buying some other crap just to buy CoreCoin doesn't make any sense, you'd just sell classic bitcoin for core bitcoin directly, no? No fiat/verification required.
Actually I expect that in such a scenario
most exchanges will not have dual trading but will rather use an event like that as an opportunity to confiscate BTCs as their own and replace them with BTCCs. Especially if they have political reasons of siding with BTCC. So you either find a reliable dual exchange that has both BTC and BTCC (which may be hard to find or even DDOSed), or you move with alts as a vehicle of +1 step.
First, your notation is confusing, difficult to determine if BTCC means Core (with new PoW) Bitcoin, or Classic (with larger capacity) Bitcoin.
Altcoin exchanges list almost anything, even coins with market caps = to that of a mid size car. I'm 99.999% sure that the 1MB4EVA group will be large enough encourage an exchange to list CoreBTC. The ones that will allow you to deposit 5-10 obscure alts
will allow you to trade CoreBTC and ClassicBTC in the event of a PoW change enabled minority fork.
Also, holdings before the fork will be valid on both chains. I fully expect some unprecedented rage dumping if Core digs in their heels and miners fork away, but I'd rather have fiat sitting on the exchange (some don't require verification for coin in/coin out) to buy the panic vs buying bags full of (even more volatile) alts to ride out the storm.
Let's hope we never find out.
Agreed, but every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.