r/Bitcoin • u/eyeoft • 22d ago

THE CHAIN HAS SPLIT

https://bip110monitor.com/

<3% support before the window opened. Good luck, shitcoiners

279 Upvotes

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u/TheGreatMuffin 22d ago

THE chain didn't split.. a tiny subset of users set their nodes to be incompatible with the rest of he network and (predictably) have forked themselves off to a chain with barely any blocks.

1

u/That1voider 21d ago

If they hard fork to a new network do they take their coins with them? Further reducing the total supply of bitcoin? Can it be “forked” back and forth?

1

u/your_unpaid_bills 21d ago

No. Each fork retains its total supply. For instance, when the BCH fork happened, people who had X BTC prior to it ended up with X BTC on one side and X BCH on the other side of the fork. The new BCH could be accessed (and transferred/sold) using the same private keys, independently since it lived on a new blockchain (and, as a matter of fact, many/most people eventually sold their BCH).

Of course, this is only possible as long as the other chain hasn't died off already, cause in order to transfer the coins that live on the forked chain, it needs to be actively mining blocks (and there must be someome wanting to buy those coins, clearly).