OKCoin CEO:
Source: https://twitter.com/starokcoin/status/926579466431815680.
Topic: Bitcoin Gold and Segwit2x upcoming forks (Read 1565 times)
As much as Bitcoin Gold sounds good, I think I'm going to stay with Bitcoin. I do not see why there needs to be another fork, mining is expencive no matter what we do. But I do support segwit2x, because it will improve everything about Bitcoin. There will be a lot of different opinion which will create small panic as we come close to segwit2x. Bitcoin will survive no matter what.
Yea I'm sure you're right. There's too much money in bitcoin.
As much as Bitcoin Gold sounds good, I think I'm going to stay with Bitcoin. I do not see why there needs to be another fork, mining is expencive no matter what we do. But I do support segwit2x, because it will improve everything about Bitcoin. There will be a lot of different opinion which will create small panic as we come close to segwit2x. Bitcoin will survive no matter what.
Hi, many people are confused between 2 different forks happening in the following days. And I've seen all different questions about it, so I'll try to explain them with simple words without going into much detail. Feel free to expand (or correct) this explanation.
First, what is fork?
A fork is like a ramification of the original Bitcoin, basically copying BTC code and adding some more features.
Bitcoin Gold (BTG) (happening around 10/26) is aiming to have a coin that can be mined using GPU processing (AKA computer video cards usually for gaming) the intention is to make it easy for regular people to mine BTG and remove some power to mining companies in China using special and expensive equipment to mine (known as ASICs).
Segwit2x (in November) is about increasing the size of the block from 1MB to 2MB but it is more controversial as developers of Bitcoin Core are against it while other miners and very influential people backed by the New York agreement are the ones pushing for this change.
In my opinion this is the fork that we should worry about, due to the different opinions there could be a lot of volatility.
First, what is fork?
A fork is like a ramification of the original Bitcoin, basically copying BTC code and adding some more features.
Bitcoin Gold (BTG) (happening around 10/26) is aiming to have a coin that can be mined using GPU processing (AKA computer video cards usually for gaming) the intention is to make it easy for regular people to mine BTG and remove some power to mining companies in China using special and expensive equipment to mine (known as ASICs).
Segwit2x (in November) is about increasing the size of the block from 1MB to 2MB but it is more controversial as developers of Bitcoin Core are against it while other miners and very influential people backed by the New York agreement are the ones pushing for this change.
In my opinion this is the fork that we should worry about, due to the different opinions there could be a lot of volatility.
Bitcoin Gold (BTG) is only new way to Destroy great bitcoin system which made by satoshi but lets check what will happen next days
Bitcoin Gold (BTG) (happening around 10/26) is aiming to have a coin that can be mined using GPU processing (AKA computer video cards usually for gaming) the intention is to make it easy for regular people to mine BTG and remove some power to mining companies in China using special and expensive equipment to mine (known as ASICs).
you forgot the premine part!
the bitcoin gold developer has plans to premine a large amount of bitcoin gold before releasing it and letting others mine it. i forgot how much it was but i believe it was thousands of BTG.
that alone puts this fork under the shitcoin categories. because coins that have a premine like this are only created by the developer to make money. they come along, live a little, get pumped then the dumps start and the price goes down to 1 satoshi per coin and eventually they disappear.
no, based on what I read in their slack, they are no longer planning about it, just wait for the distribution of Bitcoin Gold coins until our wallet is filled by itself with the same amount of coins in our Bitcoin wallet.
maybe you misunderstood what they meant, or maybe it was someone else talking about it. because last time i checked their code on github i saw an open merge request changing the software so it never had any premines, but the developer himself commented on it and said without premine we won't work on the project any more.
So are people going to cash out after Segwit? I was losing 50 dollars a minute right after BTG.
Bitcoin gold is for the last stage. SegWit2x is quite another. As far as I understand in November to receive the next coin btc1. It will have larger block sizes. In my opinion this is a natural improvement of bitcoin, but the community has not come to an agreement and it will be a serious threat to bitcoin. With this free coins will be gone.
judging from what happened on the previous soft fork, i.e segwit, the price of Bitcoin was increasing instead of falling and other altcoins price’s were dropped seems because people sold their altcoins and buy Bitcoin which I think will be repeated again in the upcoming fork. and with the Bitcoin Gold that gives us coins equal to the amount we have in Bitcoin wallet, then many people will sell their altcoins when they see BTG’s good value because they fear the price will fall so they buy Bitcoin.
this is actually a good thing for Bitcoin, especially for the long term because it’s prepared to face the future, but indeed if we talk about the present then this development isn’t actually needed. I think Bitcoin still stands it’s thanks to the development, the coin that follow the market demand will eventually stand because it becomes the choice of the users and beat the competitors who aren’t able to adapt. this development is a good thing, and it won’t give a bad influence on Bitcoin.
Bitcoin Gold (BTG) (happening around 10/26) is aiming to have a coin that can be mined using GPU processing (AKA computer video cards usually for gaming) the intention is to make it easy for regular people to mine BTG and remove some power to mining companies in China using special and expensive equipment to mine (known as ASICs).
you forgot the premine part!
the bitcoin gold developer has plans to premine a large amount of bitcoin gold before releasing it and letting others mine it. i forgot how much it was but i believe it was thousands of BTG.
that alone puts this fork under the shitcoin categories. because coins that have a premine like this are only created by the developer to make money. they come along, live a little, get pumped then the dumps start and the price goes down to 1 satoshi per coin and eventually they disappear.
no, based on what I read in their slack, they are no longer planning about it, just wait for the distribution of Bitcoin Gold coins until our wallet is filled by itself with the same amount of coins in our Bitcoin wallet.
No matter the presence of bitcoin gold, I'm sure will be the same as bitcoin cash, the best way is to invest in the beginning and then sell when you get profit 50%, let's welcome bitcoin gold to get profit quickly.
let's welcome bitcoin gold to get profit quickly.
How do you ever break the cycle of greed, when always aiming for fast profit?
SegWit2x is not only about raising the block limit from 1 MB to 2 MB, it could be raised even up to 8 MB! I'm also against Bitcoin SegWit2x because I think that higher block limit will lead us to centralisation. Transaction history would take a lot of space and not many people would be able to run a node for example. I will mine Bitcoin Gold if there are people interested in it.
Volatility would be seen after the launch of These forks. BITCOIN is rising like anything and ALTCOINS are crashing now a day. BTC will definitely be rising till 25oct as many investors has dis-invested their money from altcoins to BTC to take advantage of BCG fork distribution. Let's see how they all react after forking. If they again like to invest in ALTCOINS as before there would definitely be a fall in BTC price.
So do you think that there is a chance for Bitcoin price will drop off after Segwit2x? 
Yes it will rise until.the upcoming forks as people want more tokens of these forks. You may even see a sharp decline after the fork. But you can never just trust the bitcoin market. Selling would only be profitable if you take first mover advantage otherwise its waste. legendary
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Thanks for sharing this idea. I'm confused with that fork term but now I have an idea already. Thanks 
Always good to have free money. is there any price expectation?
S2X sybil attack has begun.
https://mobile.twitter.com/nopara73/status/921075561316876288
Garzik sponsoring this sybil attack: https://twitter.com/bergealex4/status/920961133262934016.
https://mobile.twitter.com/nopara73/status/921075561316876288
Garzik sponsoring this sybil attack: https://twitter.com/bergealex4/status/920961133262934016.
The problem is that in order to profit from the futures market, you need to hold funds on the exchange through the fork. You can sell the BT2 for BTC, but you'll take an equivalent loss if you sell the BT1 for BTC without waiting a month. I think the market is probably fairly accurate given the current market information, but it isn't worth the exchange risk to trade it. Hence the low volume.
That is not a problem of any kind as plenty of people are stupid enough to keep coins on exchanges, which is almost the same as keeping cash in the bank. In other words, they're not your coins but IOUs. As seen with the last Bcash fork, plenty of people had money there (although this made it harder to dump for them since it took time for the exchanges to credit). Now it may be the opposite. However, the exchange will put itself at risk by accepting Segwit2x deposits and withdrawals.still no word from Trezor if they're going to be offering the Bitcoin Gold to Bitcoin holders.
They do not need to. You have the seed.
still no word from Trezor if they're going to be offering the Bitcoin Gold to Bitcoin holders.
Why the Brazilian and Argentinian Bitcoin communities oppose SegWit2x: https://medium.com/@Ulrich_98986/why-the-brazilian-and-argentinian-bitcoin-communities-oppose-segwit2x-801edc213af8.
I think this is not good. I really don't understand why oppose..
Bitcoin gold will be the power alt of bitcoin and better than BCH. Most users would like GPU mining
Nah, Bitcoin Gold is already dead on arrival. The developers have already confirmed it's a premine. An airdrop with no real developer community and nothing but fork hype isn't going to go very far. There's plenty of other coins more worthy of your GPU hash rate; competition is fierce.
If we can't transact B2X to the exchanges, then how is a price for B2X going to be established?
Either you transact and risk loosing Bitcoin or you do not. Either the exchange credits existing balances, or not. Either way, the best way to currently estimate the price of B2X is futures trading as there is no risk of losing your Bitcoin ATM. Last time I've checked, the price was 1/8 of Bitcoin if not lower.The problem is that in order to profit from the futures market, you need to hold funds on the exchange through the fork. You can sell the BT2 for BTC, but you'll take an equivalent loss if you sell the BT1 for BTC without waiting a month. I think the market is probably fairly accurate given the current market information, but it isn't worth the exchange risk to trade it. Hence the low volume.
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