From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 93FE9FF8 for ; Wed, 17 Jan 2018 07:55:57 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-wr0-f172.google.com (mail-wr0-f172.google.com [209.85.128.172]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id AFCDA14E for ; Wed, 17 Jan 2018 07:55:56 +0000 (UTC) Received: by mail-wr0-f172.google.com with SMTP id t16so4224059wrc.10 for ; Tue, 16 Jan 2018 23:55:56 -0800 (PST) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025; h=mime-version:from:date:message-id:subject:to; bh=RbHZAtnPWNX/FO2tLOrcc1DY934qnPdv77z+rk1GAno=; b=DpJ05ICPqPp4vxF3ChdkC1TZnR7Gd4CaVnOnp+4j7duBEtgEsBqWmpXZss2ZUwEr0p E7ar9ujdTkYvtKqTj0F4qJKVqNpilCethnFKcAohBHrBP1cWSyxDtrhCa51PYFpAH09/ 5n9Fu5vsPoDH8LHUw2y8XAVLhhu8/6eDngNXe5YgvKw/xsU2Js3VOtFhHH+nSamXlVmE 09UsbN0yPDioUTcxVyTVKR32EEsOE+W/iowQAqcyStY2cuJ/SeMd25IaJloemKLUHwUI khRgXb3VlLFI82DHHcAkYRWIN8sNrMwUdajGr+xBJAsAeQK2BigHBsX2rkMHrDZGF0Za xGaQ== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:mime-version:from:date:message-id:subject:to; bh=RbHZAtnPWNX/FO2tLOrcc1DY934qnPdv77z+rk1GAno=; b=rjBdTWB1Pxa4nGst6CsapGZvSBSmpQmgLp5rmQHRR74R8WAEa9GNAxbRL4FBcWnrCJ B2zN9HW4hskY22kHlJnJOE6uIVc2CCLxxEo7EHbAm7y2vLHwfG5T2uB6lrXqnVtmVP1K dNdhHdXQ7amSNAb9mSZIXlTyWUVbacLU5kiqF0Pi8b7zouBDjD/sAEKJZ7menN8wQ4lD g9dAX5ZoPorSPGxNwWFg0pHRbanf0nnM1T3CiAUZseqt+twHXVwDNKXMni+4teV3jtq1 aQufQPLGInQY6MhWwcoYpkcLIPjUqpqjz80r/yYGEa8FUYofR2edAo+K6mrJO3yx+cKN XSFw== X-Gm-Message-State: AKwxyteCCcnmOuoqfNgjc0Dj+P1dv+UA2Y7ontpQW1lga+v4hZtDN7Et OScdBQhQQxTNFAqAXhP6WhAswthvLHafhwMr57cm2w== X-Google-Smtp-Source: ACJfBovSKxN+mv21r1sXVJAObWiigx+9tMyFZnfQZX/WADRKzf/PAl/ofe1NnHw5IaVgZR98shimF2CccBwlP3Kw5J0= X-Received: by 10.223.128.98 with SMTP id 89mr1615893wrk.280.1516175755143; Tue, 16 Jan 2018 23:55:55 -0800 (PST) MIME-Version: 1.0 Received: by 10.223.132.134 with HTTP; Tue, 16 Jan 2018 23:55:54 -0800 (PST) From: Chaofan Li Date: Wed, 17 Jan 2018 01:55:54 -0600 Message-ID: To: bitcoin-dev@lists.linuxfoundation.org Content-Type: multipart/alternative; boundary="94eb2c06a2ee4d6e5d0562f42dac" X-Spam-Status: No, score=-1.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID,DKIM_VALID_AU,FREEMAIL_ENVFROM_END_DIGIT,FREEMAIL_FROM, HTML_MESSAGE,RCVD_IN_DNSWL_NONE autolearn=no version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Wed, 17 Jan 2018 14:27:35 +0000 Subject: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Wed, 17 Jan 2018 07:55:57 -0000 --94eb2c06a2ee4d6e5d0562f42dac Content-Type: text/plain; charset="UTF-8" Here I propose a simple method to solve the scalability issue of blockchain. It is more like a financial trick rather than a technical solution. The technical part is very simple: Split ( hard fork ) the blockchain into two or more blockchains (e.g. two blockchain A and B), voluntarily. The two blockchains are the same except for some identifiers to distinguish the two blockchains. The coins on one blockchains cannot be sent to the other one or interfered by the other blockchain ( considering so many hard forks in the last year, the replay protection should work in this situation) Everyone get double bitcoins. Each has half value of original one bitcoin. Then, we have two almost same blockchains and the capacity of the original blockchain is doubled theoretically. When sending coin, the wallet should select one blockchain randomly and try to send through only one blockchain (If there is enough bitcoins) I think it is a possible solution, if the community realize no previously owned asset value is lost. The method is inspired by the stock split . When a stock share is split, for example into two shares, the price halves. The market capitalization remains the same. There is no dilution of every shareholders' total assets. The bitcoin often emphasizes that the total coin supply should not be changed. If the total supply increases, the value of a single coin will be diluted. That is true. However, the bad part of inflation of fiat money is not diluted value of every unit of fiat money caused by total supply increase. The problem is the increased supply is not delivered to everyone proportional to their previously owned money. The increased supply is released through debt expansion. The people that can borrow more money with low interest ratio (during QE, it was nearly 0) can invest and get profit. Or they don't even need to pay back the debt. The debt is left to government, which might never pay back the debt, and some get more money from government. Others' money are diluted. With voluntary split of bitcoin, dilution of anyone's bitcoin assets won't happen. --94eb2c06a2ee4d6e5d0562f42dac Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable


Here I propose a simple= method to solve the scalability issue of blockchain.
It is m= ore like a financial trick rather than a technical solution.=C2=A0

The technical part is very simple:=C2=A0
Split (= hard fork ) the blockchain into two or more blockchains (e.g. two blockcha= in A and B), voluntarily.=C2=A0
The two blockchains are the same = except for some identifiers to distinguish the two blockchains.
T= he coins on one blockchains cannot be sent to the other one or interfered b= y the other blockchain (=C2=A0 considering so many hard forks in the last y= ear, the replay protection should work in this situation)
Everyon= e get double bitcoins. Each has half=C2=A0 value of original one bitcoin.= =C2=A0
Then, we have two almost same blockchains and the capacity= of the original blockchain is doubled theoretically.
When sendin= g coin, the wallet should select one blockchain randomly and try to send th= rough only=C2=A0 one blockchain (If there is enough bitcoins)
I t= hink it is a=C2=A0 possible solution, if the community realize=C2=A0 no pre= viously owned asset value=C2=A0 is lost.

The metho= d is inspired by the = stock split.
When a stock share is split, for example into tw= o shares, the price halves.
The market capitalization remains the= same.
There is no dilution of every shareholders' total asse= ts.

The bitcoin often emphasizes that the total co= in supply should not be changed.
If the total supply increases, t= he value of a single coin will be diluted.
That is true.
However, the bad part of inflation of fiat money is not=C2=A0 diluted val= ue of every unit of fiat money caused by total supply increase.
T= he problem is the increased supply is not delivered to everyone proportiona= l to their previously owned money.
The increased supply is releas= ed through debt expansion.
The people that can borrow more money = with low interest ratio (during QE, it was nearly 0) can invest=C2=A0 and g= et profit.
Or they don't even need to pay back the debt. The = debt is left to government, which might never pay back the debt, and some= =C2=A0 get more money from government.
Others' money are dilu= ted.

With voluntary split of bitcoin, dilution of = anyone's bitcoin assets won't happen.


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