Can someone who understands blockchain shit explain to me how BCC doesn't introduce double-spend possibilities?
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Replying to @sgrif
If it's just forking the ledger, what's to stop me from doing a transaction on the old chain, and then spending that same cash on the new 1?
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Replying to @sgrif
They will be separate currencies and their values will represent what people expect to win. BCC $300, BTC $2.7k. Should diverge more w/ time
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Replying to @backus
That doesn't answer my question though. What stops me from doing a transaction with the same cash on both chains?
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Replying to @sgrif
You could. If BCC ends up at $300 then BTC may drop $300 that day. Not same as double spend. Your money is now just spread over 2 coins now
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Replying to @backus
It's absolutely double spend. A transaction on the BCC chain doesn't affect the BTC one. Money in a wallet pre Aug 1 is on both.
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Replying to @sgrif
"double spend" = publishing 2 transactions to the network, duping someone into thinking they are paid even tho later tx will be invalidated.
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Replying to @backus
I understand that it's not how the term is normally used. That doesn't make my question less valid.
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Replying to @sgrif
Sure just clarifying its not the kind of thing that would cripple the entire network like a double spend would.
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Replying to @backus
Unless the expectation is that a hard fork halves the value of both currencies?
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John Backus Retweeted John Backus
Yeah that was my point in https://twitter.com/backus/status/891788392920301568 …. It won't be 50/50 but $ you have in BTC now should now be like 5% in BCC
John Backus added,
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