Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 581. (Read 704812 times)
Cant agree more, following the original Bitcoin whitepaper with its built in on-chain scaling ability, Bitcoin Cash is Bitcoin!
https://www.youtube.com/watch?v=Dnm-JY0XS-E
I wonder if bitcoin gold can beat bitcoin cash? Let's see a week again.
well
we already see that
first see on btc cash
a few days after bch come to market
bch got ranked 5 on coinmarketcap
but , how about btcG ?
still 900 ++ ?
Lmao
Until there is a active blockchain then NO coin can make the top 900 never mind the top 10 futures always get stuck on the end by trading volume rather than market cap
Bitcoin cash was around 940 before it officially launched then jumped straight to the top 10 and gold will be the same as soon as the chain is active then it will go straight into the top 10
Right now in the futures market gold is 100% higher in trading volume to its closest competitor so is currently the highest it can possibly be before launch
I wonder if bitcoin gold can beat bitcoin cash? Let's see a week again.
well
we already see that
first see on btc cash
a few days after bch come to market
bch got ranked 5 on coinmarketcap
but , how about btcG ?
still 900 ++ ?
Lmao
Looks extremely bullish to me. And I usually make money.
Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.
Why are you talking about Bgold in the Bcash thread? It seems you are very insecure about competing shit-forks, being so concerned as to feel the need to suggest people "forget about" Bgold.
Do you remember when I predicted shit-forkers like you would wind up squabbling with other bands of shit-forkers, because of your and their demonstrated propensities to squabble, rage quit, and shit-fork?
It was obvious to me at the time, but the Gavinistas said my expectation was wrong. Now I am gloating and all you rage-forkers are miserable, soaking the exact situation I gleefully warned would come to pass.
can you recommend a thread with a good synthesis of the bitcoin state-of-art ?
Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.
Why are you talking about Bgold in the Bcash thread? It seems you are very insecure about competing shit-forks, being so concerned as to feel the need to suggest people "forget about" Bgold.
Do you remember when I predicted shit-forkers like you would wind up squabbling with other bands of shit-forkers, because of your and their demonstrated propensities to squabble, rage quit, and shit-fork?
It was obvious to me at the time, but the Gavinistas said my expectation was wrong. Now I am gloating and all you rage-forkers are miserable, soaking the exact situation I gleefully warned would come to pass.
Is the market big enough for two forked bitcoin currencies?
Early indications suggest so, as bitcoin cash is alternating gains with losses by trading in a tight range so far on Wednesday. At press time, the bitcoin cash-US dollar (BCH/USD) exchange rate is $328. As per CoinMarketCap, the cryptocurrency has lost just 2 percent in the last 24 hours.
Still, the lack of price movement may be encouraging for supporters.
BCH has stubbornly defended the $300 mark even amid the noise surrounding this week's bitcoin hard fork and the creation of another rival project – bitcoin gold – that adopted a same go-to-market strategy. For more than two weeks, dips below $300 have been quickly undone, still, a more sustainable break above $350 levels remains elusive.
More broadly, the cryptocurrency did rally above $400 on Oct. 17, largely on the back of a surge in Korean trading volumes. However, the spike was short-lived as prices fell back to $300 in the subsequent days.
more: https://www.coindesk.com/room-bitcoin-cash-defends-price-amid-competition/
Early indications suggest so, as bitcoin cash is alternating gains with losses by trading in a tight range so far on Wednesday. At press time, the bitcoin cash-US dollar (BCH/USD) exchange rate is $328. As per CoinMarketCap, the cryptocurrency has lost just 2 percent in the last 24 hours.
Still, the lack of price movement may be encouraging for supporters.
BCH has stubbornly defended the $300 mark even amid the noise surrounding this week's bitcoin hard fork and the creation of another rival project – bitcoin gold – that adopted a same go-to-market strategy. For more than two weeks, dips below $300 have been quickly undone, still, a more sustainable break above $350 levels remains elusive.
More broadly, the cryptocurrency did rally above $400 on Oct. 17, largely on the back of a surge in Korean trading volumes. However, the spike was short-lived as prices fell back to $300 in the subsequent days.
more: https://www.coindesk.com/room-bitcoin-cash-defends-price-amid-competition/
Bitmain are releasing a new batch of the S9 and only accepting Bitcoin cash as payment
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
i don't think this is enough to recover the value, i think bitcoin cash need merchants like bitccoin to ahve better price, otherwise will be labeled as the other shitcoin forever
Bitmain are releasing a new batch of the S9 and only accepting Bitcoin cash as payment
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
i don't think this is enough to recover the value, i think bitcoin cash need merchants like bitccoin to ahve better price, otherwise will be labeled as the other shitcoin forever
Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
confusion may happen for some time in the middle of this complex situation
I'd say it'll be more like "mayhem". The author didn't even say what effect a full mempool will have on BTC1x. I already see the BTC mempool ramping up, and I think it's safe to assume that BTC 1x/2x trade volumes will be high, and Segwit is not going to help at all. Let's estimate that with a 1x block every 2 hours, the mempool will be 150MB+ within 6-8 hours. At that point the BTC1x network will be effectively DEAD for 36+ hours. How people react to this will be interesting. This backlog should in turn put a strain on exchanges as people try to exit via alts. The money has to flow somewhere... So I see alts as the winners of this conflict.
Coinbase can call whatever they want BTC. It makes no difference in the hashrate.
Obviously whales will be pumping whichever fork they favor. But at some point the price bottom will fall out if coin trades can't settle onchain.
I don't see any outs for Kore other than a last-minute compromise. Changing POW is laughable and pathetic. Blockstream could try to buy out miners, but they're so heavily invested in the anti-Kore ideology that they would need to spend millions.
Rumor has it that Lukejr has an emergency github fork of BTC that changes POW, since Bitcoin Gold seems to be a complete scam. The Gold devs seem to be pre-mining BTCG at this time, and there's nothing miners hate more than a pre-mined shitcoin...
Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
I didn't invest in BTC this time because it was a well known issue that BTG was forked. I dont understand that people kept buying into in.
Bitmain are releasing a new batch of the S9 and only accepting Bitcoin cash as payment
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
The batch before this one also only accepted Bitcoin Cash and their latest L3 batch only accepted Bitcoin Cash as well. I'm glad Wu is showing his full support for Bitcoin Cash. However, he's going to have to do even more than he's already doing to make this coin soar.
Bitmain are releasing a new batch of the S9 and only accepting Bitcoin cash as payment
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
https://twitter.com/BITMAINtech/status/922785788261163008
I would say the future is bright for bcash...
Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
confusion may happen for some time in the middle of this complex situation
Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :
http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go
Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.
They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.
However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.
It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.
No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.
That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.
Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.
Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.
As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.
As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.
The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.
With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.
Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.
That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.
I think your the only person here lol
I'm the boss here, because noobs don't have the slightest idea what the fuck they're talking about, I'm here to stay, just like BCH, whether you like it or not. BTW the burden of proof is not on my side you btc schizophrenic psychopathe: https://btcmanager.com/ethereum-processes-more-transactions-than-bitcoin-after-byzantium/#utm_source=rss&utm_medium=rss
fresh news released just 26 mins ago.
EDIT: https://www.cryptocoinsnews.com/bitcoin-price-hit-50000-catch-apples-800-billion-market-cap-2022-says-previously-accurate-analyst/
"People need to start taking this seriously because today bitcoin caught up with Goldman Sachs. Within five years, it’s going to catch Apple, which has an $800 billion market cap."
You see, you btc schizophrenic psychopate, when I say I'm here to stay, I mean what I say, and even if this fucking analysist comes out to be true in his predictions about btc hitting 50ks within 5 years , which I highly doubt, rest assured I won't be crying over split milk.
I wonder if bitcoin gold can beat bitcoin cash? Let's see a week again.
i don't think so because value as peak was 0.4 for bitcoin cash for bitcoin gold only 0.2 and already crashing, bitcoin cash also has the chinese big farm from bitcoin covering the network, with a very strong hashrate, bitcoin gold will have a bunch of gpu supporting it
I wonder if bitcoin gold can beat bitcoin cash? Let's see a week again.
...
To further illustrate my point in case you brain dead slow mofos did not get that right, market has decided: https://www.cryptocoinsnews.com/bitcoin-price-dips-below-5800-while-ethereum-recovers-beyond-300/
"Earlier today, on October 24, the bitcoin price dipped below $5,800 for the first time since October 19, due to the market’s decline in support for the upcoming Bitcoin Gold hard fork."
To further illustrate my point in case you brain dead slow mofos did not get that right, market has decided: https://www.cryptocoinsnews.com/bitcoin-price-dips-below-5800-while-ethereum-recovers-beyond-300/
"Earlier today, on October 24, the bitcoin price dipped below $5,800 for the first time since October 19, due to the market’s decline in support for the upcoming Bitcoin Gold hard fork."
Author of the linked article made a mistake. BTG fork is indeed scheduled in Nov, but the distribution will be done as per 'snapshot' block, which was mined yesterday.
So, if anything, the dip in price could indicate that a lot of bitcoins have been purchased for the sole purpose of claiming free BTG, and those bitcoins have been dumped (either for fiat or alts) right after the snapshot block.
https://twitter.com/CremeDeLaCrypto/status/922643765579227136
At any rate, this author did not make a mistake when he posted this comment on twitter. Then the decline in support for BTC is a direct consequence to what the market (i.e investors and traders) view, at best as a non-event, at worst, a failure.
EDIT: in both cases, this does not look good, and I don't have to press hard for evidences, it's all over the news:
https://cointelegraph.com/news/fud-for-bitcoin-praise-for-blockchain-royal-bank-of-canada-ceo-on-crypto
There is little doubting that Blockchain technology is here to stay, and there are many traditionalists that are getting excited about that technology while also shunning its offshoot, Bitcoin.
McKay is in this same boat, backing the underpinning technology.
"Most people in the world aren't talking about Bitcoin. They're talking about Blockchain, the distributed ledger private or public that underpins the Bitcoin application of it," said McKay."
https://www.cryptocoinsnews.com/non-government-digital-currency-junk-says-mastercard-ceo-rejecting-bitcoin/
"If I pay for a bottle of water in Bitcoin, one day it is two bottles for a Bitcoin the other day it is 9,000 bottles. This does not work. Any currency needs stability and transparency, otherwise you will get all the illegal activities in the world. Why was the ransom for the virus (wannacry ransomware) collected in bitcoin? Why has China cracked down on bitcoin?"
https://www.cointelegraph.com/news/why-does-bitcoin-fail-as-a-payment-system
"One of the reasons there is a fee is because the larger the transaction data size, the longer and more energy it will take miners to validate the data,” Analysts at Bank of America Merrill Lynch said."
Last but not least: “Fees are not strictly enforced like transaction fees in normal banking, but if you don’t include appropriate fees, there is a serious risk that a transaction won’t be processed by a miner.”
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