Quote from: thoughtfan on April 11, 2014, 12:02:41 AM

Quote from: smooth on April 10, 2014, 11:53:30 PM

Quote from: thoughtfan on April 10, 2014, 11:49:44 PM

It is interesting to me that this idea (maybe it needs a nifty name like 'sidechain' because bitcoin blockchain-distributed premine seems cumbersome!) and Sidechain is happening at the same time. I'm liking the sound of both atm.

Quick question: If in the event I've locked a chunk of bitcoins and transferred value into a sidechain alt, would I still be eligible for the whole of my bitcoin holding (including that locked up) or would I lose out from the currently unspendable bitcoins?

You would lose out unless the genesis of the new coin also recognized that particular sidechain keys. Depending on the details of how the two-way peg works, it might be possible to recognize keys from any sidechain that is exchangeable into btc.

Thank you. So as with bitcoins on an exchange anyone interested in maximising their claim on the new coin would need temporarily to transfer any sidechain alts back into bitcoin. That is I guess another advantage of sidechain alts over alt alts (or however they will eventually be classified) is that the fixed ratio between sidechain alts and bitcoins means the shift shouldn't have the big impact on demand and price that say moving from original LTC to BTC would in both markets.

Quote from: smooth on April 10, 2014, 11:52:28 PM

Quote from: thoughtfan on April 10, 2014, 11:49:44 PM

It is interesting to me that this idea (maybe it needs a nifty name like 'sidechain' because bitcoin blockchain-distributed premine seems cumbersome!) and Sidechain is happening at the same time. I'm liking the sound of both atm.

I think spin-off is pretty good. Matches the usage for stocks.

I like spin-off too.

it's funny b/c in my mind i see Peter's proposal as better than Sidechains for now. but i should reserve judgment until there's more info. if endentyrell is to be believed, however, there is much complexity involved in setting up Sidechains that could put Bitcoin in jeopardy. Adam has admitted that there is risk in being caught in a Sidechain during an attack. this automatically makes those BTC less valuable on the open market than those on the mainchain.

Spin-offs would be much safer, simpler, and cheaper if it works as a way to deal with altcoins/altschemes.