Re: UNIFY [UNIFY] - A UNIFYING CRYPTOCURRENCY! [1% PREMINE] [4 POOLS] [NOVAEXCHANGE]
Since Unify is getting stuck on blocks once again - I am starting to think about hard forking Unify.
That would kill the value of old coins
Hardfork has nothing to do with switching chains, it will continue on the same chain but with new rules.
Therefore the nodes running with old wallet software, and blocks mined by them after the fork are not valid on the new chain.
Here is a picture for the reference, for you to have a better understanding:
Edit: by switching chains i mean starting a completely new chain from the scratch, and therefore old coins disappearing which does not happen with hardfork, since the old blocks will still remain.
Why not create a new coin with similar algo & stats but new code & then exchange Unify to new one with 1:1 ratio....
Because the swap will take alot of time, and the Digishield or something similar for difficulty adjustment would still be needed and swapping takes alot of time. Hardfork would be better solution, if you ask me. Because you need to give people alot time to swap their coins, and managing the swap too. And some coins might be left behind, because not everyone is going to make it to swap, even if you give it time of a year or so.
In any scenario value of old unify will go down and investors will lose money... Is that what we were planning for the early investors ?? Mistakes do happen... But fix it in a right way even if it takes time... It should be win-win for everyone.... If you announce hard-fork now... People might dump old unify leaving its value to probably 1-2 satoshi .... Won't be fair to early investors.... Still think SWAP is better option