Hardfork BTC - maidsafe positions

Hope this is not yet another block size debate, because there have certainly been enough of those. Anyway, my opinion is that BU is not a real solution to scaling. BTC does still have a future as currency, but for that it needs a technology upgrade in the form of the lightning network. Shortest route to lightning is Segwit.

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What fork will Maidsafe follow in the case of a bitcoin fork on the conversion of Maidsafecoins into Safecoins once these are released? Will this be in line with the policy of Poloniex, the biggest exchange?

The hard fork may never happen:

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and if I hold Maid coins on http://www.omnilayer.org/ in a paper wallet, what is going to be the impact of a fork for me ?

Nothing. You’ll follow omni to the winning chain. Essentially it will be up to them to decide what chain to use and MAID will go with them, since it exists on the omni protocol, so it should’t complicate matters for us.

EDIT: Maidsafe obviously won’t allow the conversion of any duplicated coins from another blockchain when it comes to converting maids for safecoin, nor will exchanges.

A fork is only an issue for moving coins after it happens, because at the point it happens any coins will be replicated on both forked blockchains.

TLDR; none, until a fork happens

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"> At this point we can’t even be sure that Omni features will function on whatever bitcoin chain we end up using in the near future.

Omni will continue to support the majority chain, and based on the work we’ve done on Omni on Litecoin thus far, can easily support forks of the network as well if issuers have interest in it.

Craig"

Sounds like Bitcoin Unlimited is taking over and might totally change BTC

If I understand it right, it is an Alt-coin that has a better design than BTC and would make BTC value go to zero if it takes the whole market away from regular / “core” BTC. right??

would it also make a new MaidSafeCoin? Would the old MaidSafeCoin be worthless too?

AM I TOTALLY MISUNDERSTANDING everything?? I think that’s highly likely!! THX!

You linked to an article. After reading that article what problem do you think MAIDSAFE coin holders would have?

From your own article, the only danger is a replay attack, on the loser block chain, replaying a transaction you did on the winner block chain. Since Omni will need to pick a block chain to honor, who cares about what happens on the non-honored block chain?

Sorry, but if i have maidsafecoins stored in a paper wallet generated from bitaddress.org, then do i need to move it? Can it still be used

@kelvinn90, at this time my understanding is that the address is unchanged. So your coins would be safe whichever blockchain “wins”

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No. Both block chains will be identical at the instant of the split. When Omni decides which block chain they will honor, then you will transact on that block chain whenever you decide to move the coins. Your coins will exist on both block chains, but Omni will pick one of the blockchains to move forward with, and those will be the coins you use. The coins on the loser blockchain will be ignored by Omni and will be redundant, unneeded, and unusable. That is ok, because both blockchains will be identical from the instant of the split, back in time to satoshis 1st Bitcoin.

Think of it as a transporter accident that makes two Will Rykers. Both Will Rykers are identical and both of them think they owe you a beer. Guinan in 10 forward will pick 1 of the Will Rykers to buy you the beer, and not allow the other to buy you one. You still get the beer you are owed but only from one of them. It does not matter to you, which one.

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BU is a good step to right direction. It ends the blocksize debate once and for all.

The fork will not affect the coins at all.

OK this one sentence helped it all make sense for me. I was worried that all the transactions wouldn’t be carried over to the new, more successful BU blockchain. But it sounds like they will :slight_smile:

So if BU wins, my MAID will safely exist inside its chain :smiley: right? Sounds good!

I’m not sure what you mean by ‘win’, if the fork happens is likely that both chains will co-exist, just like ETH and ETC. If you are thinking of the price of one vs the other, I don’t think it really matters, maidsafecoin is just a token which value is not dependant on the BTC value.

I mostly mean gets totally adopted by the markets and most importantly miners.

But it is dependent on the network running, so if literally 100% of miners switch to BTC-U then there will be no way for me to send my MAID for SafeCoin.

That was my worry

In that case Maidsafe will need to make the call to state what to do with your tokens before the BTC chain dies. But I see that as very unlikely or it will take a lot of time to happen at least (again look at ETH vs ETC).

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Yeah. I’m just happy that my MAID will exist on both no matter what

I think you will find it will be the people maintaining the omni protocol to choose which block chain the omni-protocol will operate on. It would seem unlikely that they would continue on both, but if they did then there would likely be some mechanism to enable/disable this on a per-coin basis.

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I’ll eat my shoes if BU wins. Now that their mafia supporters have been exposed, it must be hard for sane ppl to still believe that BU’s vision will come true.

Also, with segwit UASF, we will have ~1mb size increase aswell. I’m sure it’s pretty much over for BU, unless they change their stance and stop becoming toxic shills and conspiracy theorists. There’s a lot of space in Bitcoin, if you don’t force yourself through the door with the help of patent lovers and other criminals.

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