Post
Topic
Board Altcoin Discussion
Re: I will create a forked bitcoin chain
by
scrybe
on 23/04/2013, 03:20:03 UTC
But my assertion is that any spending of a "pure" coin issued pre-fork is a valid transaction on both sides thus any spending on the inflatacoin side is harmful to the holder of the coin.

How in the world do you think I could influence the transaction in the old chain? Thats not possible.

Actually, he has a pretty solid point. I missed it on first read.

Any spendable BitCoins that existed before the form are spendable LinearCoins on the new fork. Stephen is pointing out that spending the LinearCoins from address "ABC..." creates a transaction that is bitwise identical to the one needed to spend the BitCoins at address "ABC..."

Is that an intended feature or an issue?

It means that your ostensibly pre-distributed LinearCoins exist in a strange state. If I send my BTC to Fred, my LNC goes with it. If I send my LNC to Fred, my BTC goes with it. On the other hand, Fred receiving the coins post fork WILL get two independent coins to spend. That's twisted


Yep, you need purposefully spend both sets of coins to different addresses before a replay happens on the other network. I think I'd generate 2 new keypools too and redo my vanity if I started using it. The problem is that if you are not aware of it you are sending your alt-chain value to uncontroled addresses in an alternate universe, so the number of lost coins will be HUGE unless a large portion of the bitcoin ecosystem takes action at or around launch of the fork.

Congratulations, you have figured out how to premine to pure hoarders and insiders only. Any addresses that do transactions between launch and alt-coin discovery are at risk of losing it all in the new chain.