Post
Topic
Board Beginners & Help
Re: Forking Coin and Bitcoin
by
Lauda
on 04/11/2017, 16:50:54 UTC
That is up for the users to decide.
No, it is not.

Generally, forking is just creating another copy of the original source code but with added codes and features, nothing more. Some improvements from the previous, original versions are found in the new code that the developer of the fork "believes" that should be added in the main coin. The users then (but more specifically, the miners who control the hash power) decide which coin would they use and they prefer. The original coin may die, but in most cases, the fork often loses support after it has been pumped hard and dies ultimately.

That's how I view forks now: money bags and disruption.
That is only correct if your intention is malicious. In cases of hard forks, the process is as follows: idea -> BIP (Bitcoin Improvement Proposal): a) If user consensus == true -> adoption and activation. b) If user consensus != true -> discard proposal. There is no new/old coin in a consensus based fork. If there is consensus, and if a rule change does happen via such a hard fork, then that chain is Bitcoin and no other.

Based on what I read once you have a bitcoin you will get the same amount of coin from the fork. Since you need to install a S2X compatible wallet do you need to transfer your bitcoin from your original wallet or will it just be the new coin? If transferring of bitcoin is needed to get the new coin once you got it can you you transfer your bitcoin back to your original wallet or both coins should stay on the new wallet?
I don't understand how people can't understand an abstraction of forking, which also makes me question their intellect and comprehension.
Bitcoin: Chain A --> date of fork --> Chain A
                                               --> Altcoin: Chain B.

If you had coins at the date of fork on chain A, you also have coins on chain B.