Hi ZmnSCPxj,
On Mon, Jan 29, 2018 at 9:32 PM, ZmnSCPxj wrote:
>What ensures that a paper money with "10 Dollar" on it, is same as 10
coins each with "1 Dollar" on it?
>This is the principle of fungibility, and means I can exchange a paper
with "10 Dollar" on it for 10 coins with "1 Dollar" on it,
Good Morning Chaofan Li,
> The human perception of difference will be eliminated.
> Will your bank tell you whether your balance means coins or paper money?
> If wallets and exchanges only show the total amount of btc rather than btc.0
> and btc.1, there is no human perception difference.
This r
The human perception of difference will be eliminated.
Will your bank tell you whether your balance means coins or paper money?
If wallets and exchanges only show the total amount of btc rather than
btc.0 and btc.1, there is no human perception difference.
Also note that one valid address is autom
On 01/22/2018 04:38 PM, Chaofan Li via bitcoin-dev wrote:
> Miners are most likely to be equally distributed between the two almost
> same chains.
This is irrelevant as miners don't determine the utility of a money,
they anticipate it. However you don't have to accept this to recognize
the error
Miners are most likely to be equally distributed between the two almost
same chains.
If one chain is faster, according to the difficulty adjustment scheme, it
will become more difficult to mine.
The two chain should have similar chain generation rates with similar
difficulty and similar length.
or
This is true but confuses people because obviously miners must commit capital
to mining before any block space can exist to have value. The reason for the
misunderstanding is that miners don’t simply respond, they anticipate. All
production, and therefore capital investment, is the result of ant
> On Jan 22, 2018, at 11:01 AM, Ilan Oh via bitcoin-dev
> wrote:
>
> The chain with the most mining power will tend to have more value.
I believe you have the causality on that backwards. The tokens which are worth
more value will attract more mining hash rate. Miners respond to cash-out
val
How do you handle the mining on each chain ?
The chain with the most mining power will tend to have more value.
Also blocks are not mined equally and 1 chain will be longer than the other
thus faster thus more valuable.
It seems to be a sidechain proposal with the exact same protocol.
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