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As A Third Party The safest route would be support both chains.

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Operate an exchange and want to make sure your customer funds are safe and secure? However, around August 1, users should be cautious, especially when receiving coins. Most users will likely wait until more clear information is available. This guide http bitkong com world track help exchanges support BIP The exchange's customers will find the underlying coins, and not any future, derivative or bet, in their account balances, and can trade them exactly as if the two chains exist already!

This would help gauge the economic support for both chains.

What should you do with it? Most modern economists generally "http bitkong com world track" that deflation is bad for economic activity because as the value of your currency continues to rise, it typically reduces spending and increases the real value of debt. The entire system is based on putting people into debt to the banking system and that is only if your credit score is good enough to be worthy of debt. It keeps going worrld directly affecting the purchasing power of the ckm that is being inflated. After another trade where Alice is selling 0. The primary use case of bitcoin today is as a store of value like a savings or an investment but in the not so distant future, we will see bitcoin and other cryptocurrencies like bitcoin emerge as the dominant medium of exchange in a growing number of communities around the world. As a consequence, the "Bitcoin-Old" tokens http bitkong com world track be withdrawn any more and cannot be traded any more - they will be displayed "grayed-out" in the account balance view, just for information, and will a few days afterwards be removed from the user accounts altogether.

Here is an illustrative and exhaustive guidance on how trading will work for customers on an exchange: Technically, and practically, it works like this: He can just ignore b and c. Optionally, the customer can move back and forth the balances between a and b and ce.

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This kind of account keeping respects the fact that after a chain split, i. Let's assume that there are two customers on Exchange ABC, call them Alice and Bob, with the following account balances: Let's assume that Alice and Bob "re-arrange" their accounts in their account settings, as follows: Now, Alice and Bob can start trading. Also, trading fees earned by the Exchange operator are assumed to be 0. Alice and Bob can now place buy and sell orders for Bitcoin-Old b or Bitcoin cexactly the same way as for normal Bitcoin aor for any other crypto-currency traded on Exchange ABC.

For example, Alice places a buy-order for 0.

After settlement, their account balances look like this: After another trade where Alice is selling 0. Now wirld assume Alice wants to withdraw 0. For this she will first "re-arrange" her account again via account settings as follows: She will now withdraw 0. Alice couldn't withdraw her http bitkong com world track 0. To withdraw them as well already now, she'd either have to sell the 0.

Thereafter she could again "re-arrange" her account and then withdraw all the BTC. Let's assume that no further activity occurs on Alice's and Bob's accounts for the rest of July As a result, the legacy account balance a ceases to exist, and the Bitcoin balances in the customers' accounts read: As we can see, Bob's former 0.

  • In short, a deflationary money system incentivizes savings, discourages debt, discourages waste and over time, creates more purchasing power for the society that uses it.
  • After this moment, the two chains will either coexist forever, or one of the cases 1.
  • This guide to help exchanges support BIP

This reflects the fact that both chains b and c have the same pre-decessor chain a. Now let's assume that first the "Bitcoin-Old" chain grows faster than the "Bitcoin chain", such that there are indeed TWO public Bitcoin blockchains in the other case we'd have only one common chain, and we'll come to that scenario later.

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From this moment on, trading of Bitcoin-Old tokens and Bitcoin tokens on Exchange ABC works like tokens of any other crypto-currency, they are simply treated as what they are - separate chains. Alice or Bob could e. Exchange ABC will make sure that no replay attacks are possible when their customers withdraw tokens. It coj href="">link easily guarantee this e.

Also, Alice and Bob can load their account balances with new coins. In this case, of course Exchange ABC cannot guarantee that no replay attack will occur.

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Now let's consider what happens if one of the two public blockchains disappears - let's look at different possible scenarios: The blockchain of BIP UASF, SegWit is not mined at all because of lack of interest, or is slower from the start then "Old-Chain", and gets slower and slower and gets less and less valuation and less and less miners and nodes operate this chain.

At some point, this chain "dies" because no more block is mined on this chain at all. As a consequence, the "Bitcoin-Old" tokens cannot be withdrawn any more and cannot be traded any more - they will be displayed "grayed-out" in the account balance view, just for information, and will wogld few days afterwards be removed from the user accounts altogether.

Http bitkong com world track

On 1st Augustif from the first moment on, the BIP SegWit chain is faster than the other "Non-SegWit" chain, then no "Bitcoin-Old" chain will be created in the first place, and the customer balance for "Bitcoin-Old" tokens will not be withdrawable. These tokens, however, will still be tradeable for the first time starting 1st August, because the initial faster block creation of BIP SegWit blocks http bitkong com world track well be a result of statistical coincidence, i. Another reason why there don't immediately have to be two parallel chains is that the "Old-chain" will accept BIPblocks because of the SOFT fork characteristics such that there is no reason to immediately fork-off.

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However, injection of SegWit transaction into the "Old chain" that look like "anyone can spend" transactions to the "Old-chain miners", as well as old Non-BIP blocks that are rejected by BIPminers, should sooner cause a chain-split with Old-chain forking off from BIPchain, if "old-chain" miner hash power is greater than "BIPchain" hash power. So trading of Old-Chain tokens will be possible for some time maybe even some days on Exchange ABC, in expectation that an Old-chain creation may http bitkong com world track happen.

After this moment, the read more chains will either coexist forever, or one of the cases 1. Written by WeUseCoins on May 21,


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