Bitcoin Classic has just been released. Will it effect the BTC price?

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: disclaimer201 on February 11, 2016, 06:19:17 PM

https:// coin. dance / charts

Looking good for Classic. I believe we will get 2MB blocks first and other scalability solutions later. And the "not tonight" my dear...lol, maybe tomorrow night. Who knows?

have not heard about that link till now. i use http://xtnodes.com/ to check status (is the information on it correct?) and according to it the number of blocks mined with bitcoin classic is still 0
and i don't think number of nodes is important. the hashrate is more important because it shows the miners are behind it or not.

anyways i wish this issues becomes solved sooner than later.

pedrillo0

hero member

Activity: 1733

Merit: 502

Nada y Tú?

Quote from: trickshot22 on February 10, 2016, 03:59:45 PM

oh nice, i hope that the price will go up because of that, but i dont think it is possible because people will be afraid of a drop

Yes. BTC has many problems now which will affect its value in the short/medium term.

disclaimer201

legendary

Activity: 1526

Merit: 1001

https://coin.dance/charts

Looking good for Classic. I believe we will get 2MB blocks first and other scalability solutions later. And the "not tonight" my dear...lol, maybe tomorrow night. Who knows?

blunderer

full member

Activity: 154

Merit: 100

Quote from: richardsNY on February 11, 2016, 05:07:25 PM

... If your coins are losing some of their value, then it's due to the price moving down as a normal market action. Price goes up and down all the time.

But mainly down Sad

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: fravia on February 11, 2016, 04:23:52 PM

well it will affect the price for sure, i just hope that the affect wont be too negative, im a bit afraid that my bitcoins will lose a little bit of worth though i guess it will be a good time to buy

Don't worry, this Classic thing won't cause any damage to the price of Bitcoin. If your coins are losing some of their value, then it's due to the price moving down as a normal market action. Price goes up and down all the time.

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

Quote from: fravia on February 11, 2016, 04:23:52 PM

well it will affect the price for sure, i just hope that the affect wont be too negative, im a bit afraid that my bitcoins will lose a little bit of worth though i guess it will be a good time to buy

It's looking like Classic has fallen the way all the other altcoin/sidechain wannabes have. Your bitcoin's won't lose any value as a result of Classic.

fravia

hero member

Activity: 770

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

well it will affect the price for sure, i just hope that the affect wont be too negative, im a bit afraid that my bitcoins will lose a little bit of worth though i guess it will be a good time to buy

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: disclaimer201 on February 10, 2016, 03:20:47 PM

Well, I don't believe we will see doomsday when 2MB blocks hit or anything like that. It's long overdue and so I switched. It will help Bitcoin to scale and once we need other solutions, I'm open to rethink the situation. Best thing about BTC is that it evolves. I've seen BTC hardfork before and it's not problematic at all.

Segwit will help BTC scale properly, by helping lay a solid foundation for building out Layers >1. Doubling tps from 3 to 6 does nothing to help scale and harms decentralization for no good reason.

We've never seen a contentious hard fork, so let's not assume they are "not problematic at all."

You do realized that contention represents the possibility of formerly cooperative, suddenly-competing socioeconomic factions engaging in a fork war and risking catastrophic consensus failure, right?

The best thing about Bitcoin is that is consensus critical, yet distributed.

Evolving for nothing more than the vanity and pride of being seen to Do-Something-Because-Reasons is anathema to the Honey Badger ethos.

Control your impatient impulses. The block size will be raised eventually, but sorry, not tonight dear!

disclaimer201

legendary

Activity: 1526

Merit: 1001

Quote from: Mikestang on February 11, 2016, 02:27:15 PM

I wish they would stop marketing these altcoins as an improvement to Bitcoin, to me it seems like they are trying to "take over" bitcoin like they did with XT. Regardless what you call it, there's only one bitcoin and I doubt many people (especially the Chinese) will adopt this new altcoin over core.

More FUD? It's not an altcoin. Once a majority consensus is reached for bigger blocks and people switch over it is still Bitcoin. With your definition current bitcoin is an altcoin, it has been forked several times! Stupid! If you're against change buy some namecoins.

blunderer

full member

Activity: 154

Merit: 100

Quote from: gkv9 on February 11, 2016, 02:54:48 PM

Quote from: Mikestang on February 11, 2016, 02:27:15 PM

I wish they would stop marketing these altcoins as an improvement to Bitcoin, to me it seems like they are trying to "take over" bitcoin like they did with XT. Regardless what you call it, there's only one bitcoin and I doubt many people (especially the Chinese) will adopt this new altcoin over core.

Classic has already been stated as "not being accepted" by the community, so it's like majority always wins...
There ain't any possibility for this "clone" kinda thing to affect the price at any cost...

Lol, don't know which community you've been talking to. Classic's doing just fine

https://coin.dance/nodes

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

Quote from: Mikestang on February 11, 2016, 02:27:15 PM

I wish they would stop marketing these altcoins as an improvement to Bitcoin, to me it seems like they are trying to "take over" bitcoin like they did with XT. Regardless what you call it, there's only one bitcoin and I doubt many people (especially the Chinese) will adopt this new altcoin over core.

Classic has already been stated as "not being accepted" by the community, so it's like majority always wins...
There ain't any possibility for this "clone" kinda thing to affect the price at any cost...

Mikestang

legendary

Activity: 1274

Merit: 1000

I wish they would stop marketing these altcoins as an improvement to Bitcoin, to me it seems like they are trying to "take over" bitcoin like they did with XT. Regardless what you call it, there's only one bitcoin and I doubt many people (especially the Chinese) will adopt this new altcoin over core.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: B for BTC on February 11, 2016, 07:21:58 AM

I believe that if any fork happen, this will harm bitcoin badly.

It depends under what circumstances a fork would happen.
A contentious fork is definitely pure venom and should always be avoided.
If however the community has found consensus a fork is nothing to worry about.

And in terms of the actual situation the majority of miners with almost 90% of the hash power have stated that they are against this hard-fork attempt by classic.

B for BTC

newbie

Activity: 32

Merit: 0

I believe that if any fork happen, this will harm bitcoin badly.

valta4065

hero member

Activity: 826

Merit: 500

Join @Bountycloud for the best bounties!

Quote from: Amph on February 11, 2016, 02:32:46 AM

i think not, because it is china that pump the price basically, and they already made their decision about the hard fork/soft fork

at worst there will be some swings here and there, but the final outcome will be an increase

Yeah but I wonder if now is the good time to buy.

I'd say there will be a short down before seeing the increase. Maybe it's worth waiting for the 350 again!

Herbert2020

legendary

Activity: 1946

Merit: 1137

the resistance has been so much that it is preventing the bitcoin classic effect on bitcoin price, besides there is nothing really happening yet.
so i guess we should wait and see how things turn out. it is soon to decide.

Amph

legendary

Activity: 3248

Merit: 1070

i think not, because it is china that pump the price basically, and they already made their decision about the hard fork/soft fork

at worst there will be some swings here and there, but the final outcome will be an increase

pooya87

legendary

Activity: 3472

Merit: 10611

it is definitely interesting to see that despite all the speculations for price decrease due to bitcoin classic release , the price is going the opposite way up.
i think part of the reason why the price did not take hit so far is because there is only nodes and no mining power (apparently) dedicated to bitcoin classic. all the blocks are being mined with core so far.

DaveJones

newbie

Activity: 56

Merit: 0

This is going to fun for a few months.

Trading volatile exchanges with noobs Cool

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: trickshot22 on February 10, 2016, 03:59:45 PM

oh nice, i hope that the price will go up because of that, but i dont think it is possible because people will be afraid of a drop

The people that have the funds to influence the price don't care at all about this. Why would they? It's just an altcoin.

Cconvert2G36

sr. member

Activity: 392

Merit: 250

Quote from: gijoes on February 10, 2016, 03:45:45 PM

Quote from: Cconvert2G36 on February 10, 2016, 03:36:52 PM

There's definitely going to be some rage dumping if the fork actually happens, but after that... double the capacity for an epic rally.

Dream on. No one in their sane mind will invest in Toomincoin: http://bitcoinocracy.com/arguments/if-non-core-hard-fork-wins-major-holders-will-sell-btc-driving-price-into-the-ground

Classic maintainers let it slip that they are planning a major "reorganization" of Bitcoin governance, including "popular voting" on 21M coin limit: https://www.reddit.com/r/Bitcoin/comments/4326ya/jonathan_toomim_on_bitcoin_classic_everything_can/

Doesn't really boost investor confidence, does it?

You may want to read the white paper again. If Classic wants to do something against the hashpower majority's interest. The miners will fork away from Classic, just like what could happen if Core continues to stall and only do things in the interest of Blockstream. Bitcoin routes around attempts to steer and control it.

Pretty simple really.

As for the bitcoinocracy link that Gregory and friends link like a tourettes tick, I already covered it, I bolded the relevant phrase.

I could play that silly game too:
https://www.reddit.com/r/btc/comments/41r561/150k_btc_between_personal_holdings_and_associates/

It doesn't matter much tho, miners will choose what is in their (and by extension, the economy's) best interest. It's part of the fundamental architecture of the network.

gijoes

hero member

Activity: 499

Merit: 500

Quote from: BlindMayorBitcorn on February 10, 2016, 03:50:23 PM

Jeff and Gavin are now lead maintainers of Classic. Toomin is now listed as a consultant of some kind.

By this reshuffling alone you can tell that there is much more going on than just "an increase to 2MB everyone wants! no surprises!"

trickshot22

sr. member

Activity: 504

Merit: 250

oh nice, i hope that the price will go up because of that, but i dont think it is possible because people will be afraid of a drop

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: gijoes on February 10, 2016, 03:45:45 PM

Quote from: Cconvert2G36 on February 10, 2016, 03:36:52 PM

There's definitely going to be some rage dumping if the fork actually happens, but after that... double the capacity for an epic rally.

Dream on. No one in their sane mind will invest in Toomincoin: http://bitcoinocracy.com/arguments/if-non-core-hard-fork-wins-major-holders-will-sell-btc-driving-price-into-the-ground

Classic maintainers let it slip that they are planning a major "reorganization" of Bitcoin governance, including "popular voting" on 21M coin limit: https://www.reddit.com/r/Bitcoin/comments/4326ya/jonathan_toomim_on_bitcoin_classic_everything_can/

Doesn't really boost investor confidence, does it?

Jeff and Gavin are now lead maintainers of Classic. The Toomin's are re-listed as consultants of some kind.

gijoes

hero member

Activity: 499

Merit: 500

Quote from: Cconvert2G36 on February 10, 2016, 03:36:52 PM

There's definitely going to be some rage dumping if the fork actually happens, but after that... double the capacity for an epic rally.

Dream on. No one in their sane mind will invest in Toomincoin: http://bitcoinocracy.com/arguments/if-non-core-hard-fork-wins-major-holders-will-sell-btc-driving-price-into-the-ground

Classic maintainers let it slip that they are planning a major "reorganization" of Bitcoin governance, including "popular voting" on 21M coin limit: https://www.reddit.com/r/Bitcoin/comments/4326ya/jonathan_toomim_on_bitcoin_classic_everything_can/

Doesn't really boost investor confidence, does it?

xslugx

sr. member

Activity: 293

Merit: 250

Quote from: Cconvert2G36 on February 10, 2016, 03:36:52 PM

Classic released, Bitcoin UP!

There's definitely going to be some rage dumping if the fork actually happens, but after that... double the capacity for an epic rally.

Bah. Don't think too much about that.

Halving is coming, and with it a decrease of btc supply. So btc price can't fall down too much. And after that the size issue will be resolved at a moment or another.

The only final result is the rise of btc!

julian071

hero member

Activity: 1132

Merit: 818

Quote from: disclaimer201 on February 10, 2016, 03:36:41 PM

Quote from: julian071 on February 10, 2016, 03:31:34 PM

Quote from: jod_doj on February 10, 2016, 03:01:22 PM

oh wow now im kinda afraid of this whole thing as the price might fall down because of a possible network split

This is the average joe! Not the people who are bored with the news about core, forks, blocksizes above.... those people are average bitcointalk-regulars!

I think the average joe, including many speculators who are technically not very savvy, will think exactly the same, and drop it like it's hot. I'm waiting for that very moment to buy back in as I sold all my BTC for ETH, DASH and XMR @ 397 €. I''l buy back in at half that price.

You have some balls! Then again, it's easy to say when you only own 0.19 BTC or so. If I was you, I wouldn't wait too too long to buy back some of your BTC.

Thank you. It was one of a very few trades that were succesful. However it has been very succesful. Bought ETH @ 0.0038 haha. DASH @ 0.009.

It sure wasn't an easy decission.

I stand by my analysis. I''m waiting for a fork, blood in the streets, then I will buy back in and double up for a second time.

blunderer

full member

Activity: 154

Merit: 100

Quote from: Cconvert2G36 on February 10, 2016, 03:36:52 PM

Classic released, Bitcoin UP!

There's definitely going to be some rage dumping if the fork actually happens, but after that... double the capacity for an epic rally.

Not worried about rage dumping. Because perfect opportunity for major institutional investors, the ones waiting in the wings & keeping the price down to accumulate Cool

richardsNY

legendary

Activity: 1232

Merit: 1091

Don't think it will have that much effect on the price. Some people might try it for a few days but they will switch back to Bitcoin Core again as they see the adoption of Classic is severely lacking interest from people.

Cconvert2G36

sr. member

Activity: 392

Merit: 250

Classic released, Bitcoin UP!

There's definitely going to be some rage dumping if the fork actually happens, but after that... double the capacity for an epic rally.

disclaimer201

legendary

Activity: 1526

Merit: 1001

Quote from: julian071 on February 10, 2016, 03:31:34 PM

Quote from: jod_doj on February 10, 2016, 03:01:22 PM

oh wow now im kinda afraid of this whole thing as the price might fall down because of a possible network split

This is the average joe! Not the people who are bored with the news about core, forks, blocksizes above.... those people are average bitcointalk-regulars!

I think the average joe, including many speculators who are technically not very savvy, will think exactly the same, and drop it like it's hot. I'm waiting for that very moment to buy back in as I sold all my BTC for ETH, DASH and XMR @ 397 €. I''l buy back in at half that price.

You have some balls! Then again, it's easy to say when you only own 0.19 BTC or so. If I was you, I wouldn't wait too too long to buy back some of your BTC.

julian071

hero member

Activity: 1132

Merit: 818

Quote from: jod_doj on February 10, 2016, 03:01:22 PM

oh wow now im kinda afraid of this whole thing as the price might fall down because of a possible network split

This is the average joe! Not the people who are bored with the news about core, forks, blocksizes above.... those people are average bitcointalk-regulars!

I think the average joe, including many speculators who are technically not very savvy, will think exactly the same, and drop it like it's hot. I'm waiting for that very moment to buy back in as I sold all my BTC for ETH, DASH and XMR @ 397 €. I''l buy back in at half that price.

disclaimer201

legendary

Activity: 1526

Merit: 1001

Well, I don't believe we will see doomsday when 2MB blocks hit or anything like that. It's long overdue and so I switched. It will help Bitcoin to scale and once we need other solutions, I'm open to rethink the situation. Best thing about BTC is that it evolves. I've seen BTC hardfork before and it's not problematic at all.

xslugx

sr. member

Activity: 293

Merit: 250

Quote from: gentlemand on February 10, 2016, 02:43:27 PM

My only prediction is - another trillion words of screaming and smearing on both sides per day until it reaches a critical mass and the internet commits suicide.

Ahahah!

Yeah it won't do anything. Why would it?

The only thing that will affect the price will be the resolution of the size issue.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Well, based on what I can see with the price, the average on each exchange has gone up >$10 over today, so that means either people are buying Bitcoin because classic was released and it is not living up to expectations or other reasoning. I wonder how people are going to react to classic.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Quote from: jod_doj on February 10, 2016, 03:01:22 PM

oh wow now im kinda afraid of this whole thing as the price might fall down because of a possible network split

I'm up for BTC price going down, frikkin thing's been above 300 for ages.

jod_doj

full member

Activity: 179

Merit: 100

oh wow now im kinda afraid of this whole thing as the price might fall down because of a possible network split

gijoes

hero member

Activity: 499

Merit: 500

Quote from: disclaimer201 on February 10, 2016, 02:33:23 PM

After all that fuzz we saw in the past couple of weeks, Bitcoin Classic has just been released as I was just told via their email newsletter. Ready for download!

Your views? Will it be the doom of Bitcoin? Will it finally allow it to scale and most importantly, what will happen to the price???

Release means nothing. Miners lining up to support Classic and a permanent network split that may result from their actions is quite another matter:
http://bitcoinocracy.com/arguments/in-the-event-of-a-fork-i-will-sell-rbf-blockstream-core-coins-and-buy-classic-bitcoins

mexxer-2

hero member

Activity: 924

Merit: 1005

4 Mana 7/7

Quote from: AliceWonderMiscreations on February 10, 2016, 02:45:51 PM

I suspect most people are just like me. Tired of the drama, not giving a damn about classic, little if any impact on the price.

Thats the regular joe right there, same goes for me.

AliceWonderMiscreations

full member

Activity: 182

Merit: 107

I suspect most people are just like me. Tired of the drama, not giving a damn about classic, little if any impact on the price.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

My only prediction is - another trillion words of screaming and smearing on both sides per day until it reaches a critical mass and the internet commits suicide.

disclaimer201

legendary

Activity: 1526

Merit: 1001

After all that fuzz we saw in the past couple of weeks, Bitcoin Classic has just been released as I was just told via their email newsletter. Ready for download!

Your views? Will it be the doom of Bitcoin? Will it finally allow it to scale and most importantly, what will happen to the price???

Go!

Topic: Bitcoin Classic has just been released. Will it effect the BTC price? (Read 2060 times)