ELI5: What will happen if there is a hard fork with Bitcoin-XT and Bitcoin-Core? Why do they say coins could be lost? won't the majority decide what the blockchain will be?
What I understand:
Bitcoin-XT will accept blocks of up to 20Mb.
Bitcoin-Core will accept blocks of up to 1Mb
If say 35% of the nodes support raising the blocklimit and start running Bitcoin-XT instead, and some 5Mb blocks start to appear, won't these be rejected by the other 65% of nodes, and the blockchain should continue the same way it is, and those transactions that were supposed to be in the 5Mb block, won't they just be in the memory pool of the Bitcoin-core clients until they get added to the next blocks? (probably waiting for hours and hours...) Please explain how could coins be lost?
The way I understand it, Bitcoin Unlimited follows the longest valid chain regardless of the blocksize but can it fork Bitcoin Core by itself? Or Bitcoin XT is still the only implementation that can trigger a fork?
Is bitcoin-xt fully RPC compatible with Bitcoin Core and altcoins forked from it?
I've been searching for a while, but can't seem to locate the answer to this question. With thousands of dollars going out every day, I want to be absolutely sure before upgrading our pool's nodes this weekend. Our trader, payout software, Java frontend, and mining server depend on most RPC commands being standardized across bitcoin and all the altcoins, like Litecoin, that are forked from bitcoin. A significant amount of testing has been performed on the highly critical payout software. One of the reasons why we don't have NXT payout support yet, for example, is because its commands differ significantly from the bitcoin path. If we upgrade, do all the existing JSON-RPC commands function exactly the same as in Bitcoin Core? In particular, does sendmany accept the exact same arguments and behave exactly the same way, including any bugs that may be present in the Core version? Or, has this command diverged from the reference implementation in some manner? Is it intended that the command will ever diverge from the reference implementation? Thanks to anyone who can provide insight into this issue.
When is the earliest a Bitcoin-XT hard fork could occur?
So let's say on Jan 4th, 2016 suddenly we see 75% of the existing mining capacity switch to using Bitcoin-XT. Then 1,000 blocks later it is January 11th. Is that when the "two weeks" limiter would kick in -- making the first big block possible on January 25th? Or is it that the "two weeks" limiter could occur prior to Jan 11th, and Jan 11th is the date the first big block could be allowed?
03-27 18:22 - 'If there will be a fork with Unlimited/Classic/EC/XT majority, that is BITCOIN. The core small dying branch might be listed as corecoin.' by /u/paoloaga removed from /r/Bitcoin within 0-5min
Bitcoin is about to fork off. Too forking right, some of you may cheer. But a great many Bitcoin “users” – miners, developers, retailers and spenders – are against the idea. If you ask them about it, they’ll tell you they don’t like being forked about. Some of them say they couldn’t be forked. Well the thing about forking is it can be re-synched to the master branch at any time and each amendment gets tracked (staging <=> commit) — just as in Git.Liquidity fragmentation was a big concern for the banks; that’s why they agreed to co-create a number of institutional platforms rather than splintered stand alone entities.Maybe Bitcoin XT is acting as an Distributed Operating Committee? Bitcoin XT is an implementation of a full node client network Bitcoin Cash (BCH) and Bitcoin (BTC). XT corresponds to the original vision of Bitcoin: simple, reliable, low-cost transactions for everyone in the world. Initially, Bitcoin XT was a simple set of patches on top of Bitcoin Core, now Bitcoin XT is an independently developed client of the Bitcoin network. The “Forking” of Bitcoin. In the past few days, you may have heard, from myself or from others, that Bitcoin “is [or may be] forking.” Just what this means is perhaps a little complicated, but if you’re willing to read, I’m willing to write, so please: read on. *** Different responses to the same problem. At its heart, what’s happening is a difference in opinion over how to solve ... Forking is when the basic protocol of bitcoin has been changed and suddenly the blockchain splits. There is a fork in the road. One of the limitations of bitcoin that seems to plague many users is the size cap on the block. One megabyte seems to be too small to make sense. In 2010, it might have been okay but in the streaming world of today, it seems to be prohibitive. Developers tried to find ...
Bitcoin Cash Network Completes a Successful Hard Fork - Bitcoin News
Bitcoin Cash Network Completes a Successful Hard Fork At approximately 4 pm EDT at block height 504031, the Bitcoin Cash (BCH) network successfully hard forked. The fork is a change to the ... OJ Jordan interviews Jörg Molt from the Satoshi School at Coinfest UK - April 2017 Is Bitcoin Forking Imminent; What can we expect from Bitcoin in near future and other topics discussed here ... Why did your last Bitcoin transaction take so long to confirm? And why are transaction fees higher? Get some answers, and maybe more questions, in this video. Check out our new channel! http ... Welcome to Crypto Catch Up! A video explaining what all the different kinds of forks are, what they mean for you, and why they are important. - Hard Forks - Soft Forks - User Activated - Software ... Donations? Eth: 0x12Bab196AA5b4A4Dd8e4B9476A0684Ec302CE836 BTC 14JArjKPnvZC4PS25f4RsYo2UJkTAwtq9w.