WHAT is BITCOIN UNITED ? WHY SHOULD we CARE ?

BTC-U is a radical "upgrade" to the Bitcoin protocol. It moves Bitcoin away from its power-intensive and increasingly-centralized mining roots to a completely different type of blockchain, namely the Bitshares blockchain. I'll include the following cheesy graphic that I had no part in creating:

This is actually how all of the first 2 billion Bitshares were distributed originally, as a "sharedrop" to people who owned PTS altcoins and to those who had contributed Bitcoin to the Bitshares development process.

The BTC-U team is proposing to take a snapshot of all the BTC balances on the main bitcoin chain, and give each of them a proportional number of a brand-new BTC-U token on the Bitshares chain.

You'll be able to import your BTC private keys into the Bitshares wallet, and poof you'll have as many BTC-U as you have BTC.The BTC-U tokens won't have any "smarts" about them; they're not governed by a smart contract like bitUSD or bitCNY, but their distribution will exactly match that of Bitcoin at the time of the sharedrop. This means they'll be exactly as scarce as regular Bitcoin.

BTC-U is being advertised as a simple upgrade to Bitcoin & BTC-U were to be adopted as a true heir to Bitcoin Classic, it would be the greatest thing ever to happen to Bitshares. Every BTC-U transaction would mean another couple fractions of Bitshares would be spent on transaction fees.

Even if BTC-U never is adopted as a true successor to Bitcoin, anybody who wants to claim theirs will need to interact with Bitshares in some way . On Bitshares, transactions are confirmed almost instantaneously.

Bitshares is quite unlike many other cryptos, and I suspect that it's viewed with disdain by the usual Bitcoin maximalists who seem to think that mining is the most important part of a cryptocurrency.

he sharedrop will likely not even be claimed by many people who hold Bitcoin. Also, a huge amount of Bitcoin is held on exchanges; if the exchanges don't allow their customers to claim their BTC-U, that won't help anybody.

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