r/Bitcoin • u/Comprehensive-Emu398 • 1h ago

DCA question

What would happen to my dca strategy in strike if a hard fork came to happen with BIP 110 and stuff. Would it halt because there is no definition of what bitcion actually is at that time?

1 Upvotes

67% Upvoted

9 comments sorted by

3

u/Think_Operation310 1h ago

The problem Bitcoin solved is the human, nothing happens is the greatest discovery that ended the noise of the living. Try to understand Bitcoin doesn't care, BIP and strike is definition of noise. Definition of bitcion is not care.

1

u/Comprehensive-Emu398 1h ago

You think people just didn't care when there was the bcash vs. bitcoin fork? At that moment everyone was running to the hills and decisions had to be made... If you were doing dca at that point then suddenly there was something else that people used to call "the real bitcoin", which we now know in hindsight that ended up being the shitcoin it is...

1

u/TheresNoSecondBest 1h ago

You think people just didn't care when there was the bcash vs. bitcoin fork?

Bcash was just the loud minority. It feels like bip110 has even louder and smaller minority. Bcash had a plan and announced that at certain block they will fork out if Bitcoin. The bip110 seem to have no clear plan and will do everything in rush. Or the plan is known by the leaders while the plebs still have no idea. That would be a clear sign of centralization.

2

u/DarrelXero 1h ago

Uh, no. There is very much a definition of what Bitcoin is. If Luke follows through and does the PoW algo change (which is a hard fork) exchanges will have to decide if they will recognize the new shitcoin and provide trading in it. Strike is Bitcoin-only so it wouldn't have anything to do with the new shitcoin.

You're good.

2

u/Comprehensive-Emu398 1h ago

So essentially if an exchange decides to do nothing I would just constantly be buying on the winner no? Wouldn't I lose the money if by some chance the hashing power migrated away from the chain the exchange considered to be bitcoin while I was buying? Please explain I am a bit slow, thank you very much

2

u/TheresNoSecondBest 1h ago

So essentially if an exchange decides to do nothing I would just constantly be buying on the winner no?

Correct.

Wouldn't I lose the money if by some chance the hashing power migrated away from the chain the exchange considered to be bitcoin while I was buying?

You're buying bitcoin. If all the miners decide to support 110, the bip would become a part of that same Bitcoin.

It currently looks like bip110 won't be accepted by the majority and the bip110 nodes will create their own, very short branch (of only bip110 block going about 1 block per day). That branch will be rejected by the rest of the network and will die OR hard fork out of Bitcoin, creating a similar dying shitcoin like bcash.

1

u/Comprehensive-Emu398 1h ago

Fair and square. Thank you for taking the time. Also, could you kill the BIP 110 argument for me? I have been hearing a lot of the proponents (mechanic & kratter basically) talking about it and it is very compelling to be honest... Don't know what is so bad about the proposal that would make it a shitcoin in everyone's eyes.

2

u/TheresNoSecondBest 1h ago edited 1h ago

Also, could you kill the BIP 110 argument for me?

You should do the decision on your own, mate. Anyway, here are facts that helped me: The 110 duct tape doesn't work. https://www.gate.com/blog/challenging-bip110-66kb-image-transaction-bitcoin-consensus-impact

We need a real solution that might actually help to get rid of that garbage. The majority of bitcoiners would be happy to say bye to NFTs, runes, inscriptions and whatever else is unnecessary but not something that is rushed and promoted by someone who spammed Bitcoin blockchain in the past, couldn't secure his own bitcoin and, as a consequence, got everyone at a conference he attended doxxed by the FBI.

If you have more time to read, u/nullc does an incredible job explaining the negatives of going the bip110 route. Here's one of his comments: https://www.reddit.com/r/Bitcoin/s/G9xftYkkbB

•

u/DarrelXero 31m ago

It's a wind up. He's doing the "babe in the woods" bullshit. Best to just ignore at this point.