Bitcoin fork & storage and redeeming of maidsafe


#1

Am reading and watching videos of the possible soft fork coming up in bitcoin.

As far as I understand this would mean that if you have N bitcoins, after the fork you will
have N bitcoins, and also N forkedbitcoins - this doubles the amount of coins you have.

Questions I have are,

  1. When it comes to redeeming maidcoin, will this double the number of maids, or will the original
    fork be favoured?

  2. What would happen to people sending maids to the new fork accidentally? Same type of chain would probably still accept incoming maidsafe.

Cheers,
Z.


#2

Maid is an Omni protocol asset, and I don’t think they’ve said how they’ll handle the issue yet.

However they deal with it, I’m pretty sure there will not be a doubling of the supply of all Omni assets after any forking.

Hopefully there will be a clear winning chain & everything goes relatively smoothly.

Best idea is to not move any Maid / other Bitcoin blockchain based assets from a couple of days before planned forks until the situation is clear following any forks.


#3

Intresting eh, it could be the assets built on top of bitcoin that decide the future of the fork.


#4

I doubt that. More like omni goes with the clear leader. The other blockchains could have “alt-omni” tokens but unlikely to be recognised by many. Although maybe a couple of the omni tokens could sustain a “alt-omni-token” but MAID certainly cannot since its just a token to be exchanged for real SAFEcoins.


#5

See also this thread: Question about BIP148's impact on MaidSafeCoin transactions
–>In this thread there is also a reference to a response from someone of Omni.


#6

A soft fork doesn’t usually split a chain. But the situation isn’t that simple really. There is the possibility of a chain split and wipeout risk associated with the UASF148, which is what gives it some leverage. If the Bitcoin chain with rules as currently defined continues past Aug 1, transactions between Aug1 and whenever UASF148 gains control would be wiped out in a chain reorganization. To counter this risk, Bitmain said they will hard fork. Hard forks do split the chain and double coin supply if not everyone follows that fork (I certainly won’t be following it). So basically there is a lot of uncertainty what will end up happening. Hopefully we gain more clarity as the day approaches.