Ask SN: Why not a exact copy chain right along the original bitcoin chain? \ stacker news ~bitcoin

Ask SN: Why not a exact copy chain right along the original bitcoin chain?

62 sats \ 7 comments \ @brandonsbytes 9 Nov 2023 bitcoin

I'm thinking, in the future scenario where bitcoin is the standard, why wouldn't those who missed out not just start a new network on all the same code? I have heard of side chains, but I don't think I mean that. All the same rules as current bitcoin, just another version. So, 21 million of bitcoin1 and 21 million of bitcoin2?

If bitcoin is the best money, why wouldn't a second bitcoin chain with all the same rules also be good? Is it just the effort and knowledge for now? But, in the future, some industrious madmen might want to start over?

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21 sats \ 0 replies \ @owleyedapprentice 9 Nov 2023

i've wondered this too, specifically in relation to the hypothetical 51% attack;

what if institutional investments into bitcoin starts to dominate the majority, and a coordinated attempt is made to hard fork the bitcoin network into one controlled by these institutions, with the claim that "this is the real network", and enough people go along with it in order to preserve the value of what they hold ... a literal hijacking ... is this still a technical possibility?

21 sats \ 0 replies \ @OneOneSeven 9 Nov 2023

2 million+ have already tried and failed https://i.imgur.com/FUF6124.png

41 sats \ 4 replies \ @Zepasta 9 Nov 2023

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0 sats \ 3 replies \ @brandonsbytes OP 9 Nov 2023 freebie

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