Topic: Bitcoin Is in Wild Upheaval After The Cancellation of the Segwit2x Fork (Read 377 times)

Bitcoin is Wonder Woman.


Wonder Woman vs Ares Fight Scene Part #1 -
Wonder Woman 2017 Movie Clip (4K ULTRA HD)

https://www.youtube.com/watch?v=qZNPsNFeSWQ


Wonder Woman vs Ares Fight Scene Part #2 -
Wonder Woman 2017 Movie Clip (4K ULTRA HD)

https://www.youtube.com/watch?v=hZ-3KqjmgDg


Wonder Woman vs Ares Fight Scene Part #3 -
Wonder Woman 2017 Movie Clip (4K ULTRA HD)

https://www.youtube.com/watch?v=pS25g3H-e8E

attack on the network?
mining pools moving away from bitcoin is not an attack. at best its desertion..

Bitcoin really needs to find a way to increase the block limit of 2mb as well as decrease fees. At the moment Bitcoin is in a precarious position due to the attacks on the network right now so cancelling the fork was probably a good idea.

Coins are built over trust and bitcoin has been building this trust over 8 years. It is not owned by miners, or by a company managed by a CEO, its is owned by the people. Bitcoin cash does not have this capital of trust and after a DDOS attack, in 30 minutes the price dropped from $2800 to $1500, it simple does not have the ability to store value... and the value is trust.

Some miners are leaving bitcoin, who cares? Others will replace them... Money is where people are, not where miners go.

BTC forever!

until we see merchant acceptance shift.. all i see is speculation to cause price drama for fiat lovers to run off with more fiat

It was all a perfect move, it has been created in order to make all this terrorific plan over bitcoin, and all those people who are going to tell me that i am wrong, i have the right to ask you for some explanations about your negativity.
But think about it, bitcoin cash was just developed, and it went down to $300 in just a few days, and then it keept that price for more than three months, then, everybody decided to release a new fork, bitcoin gold, it got released and we received the coins, we all dumped them.
Now there was going to be a fork, it got cancelled and the devs "said" that bitcoin cash was their desired goal, and this is what is happening now, everybody wants to migrate to bitcoin cash and keep buying more of it because they all think that it is the "real" bitcoin.

unless a coin actually is used as a real world currency (coinbase/bitpay merchant shopping cart acceptance) then all other things are just speculative points of interest for a bubble token of investment.. and not anything to do with a real world currency

even the 'who has the hashrate' is meaningless. after all even if a pool had 100% of the hashrate. core can just IP ban any node communicating with that pool and reject any block from that pool. and thus that pool ends up hashing for nothing. while a core based pools get accepted even at a 1% hashrate
the code rules are not about hashrate, but about what block is acceptable. so hashrate means less than the rejection criteria core coded in

anyway

yea the price might jump up and down
but a 100% rise of a coin for $1 is the same net effect as a 100% rise of a coin for $100,000
basically you buy $10 and get $20.. it doesnt matter if you obtained 10 tokens or 0.00001 to get that. the result is the same

so price drama is irrelevant. it goes up it goes down.. just like the sun. eventually people get bored of looking at the sun and accept what is expected to happen.

what really matters is how USEFUL a coin is for actual use.
such as fee's and merchant acceptance

so while bitcoin is losing merchant acceptance. and other coins are not really gaining merchant acceptance. i do not see any of 2017 drama about coins actually being positive.

yea many fiat lovers are happy they gain more fiat when they run off.. but thats not what real crypto is about. so i dont care about their excitement.

what people need to be looking hard at is the merchant adoption and the freedom(ease) of use of a coin, to then know which is better

The cryptocurrency market is experiencing a complex shakeup this weekend, with a recently created digital token called Bitcoin Cash (BCH) up nearly 130% in two days, even after retreating substantially from an even bigger spike. Meanwhile, the original Bitcoin (BTC) is down by roughly 15% over the same span. Bitcoin Cash’s total market value, after briefly overtaking Ethereum’s to make BCH the second most valuable cryptocurrency, now stands at $25 billion.

More profoundly, Bitcoin Cash’s hash rate, or network-wide cryptographic processing power, has surpassed Bitcoin’s.

The swings come in the wake of this week’s cancellation of a ‘hard fork,’ or forced split, of Bitcoin. The proposed fork would have created a new version of Bitcoin, known tentatively as Bitcoin 2x after the upgrade plan behind it, Segwit2x. Bitcoin Cash appears to be attracting investors and network operators, or miners, who had supported the 2x fork.

As recently as September, Segwit2x was being touted as a strong solution to Bitcoin’s years-long block size dispute. Bitcoin upgrades are implemented democratically, but the block size fight has resisted consensus solutions, even as the problem it seeks to address — slow confirmation of Bitcoin transactions— has become increasingly serious.


One faction believes that Bitcoin should allow its transaction records, or blocks, to be bigger. That would make transactions cheaper and faster for users, but servers (also known as miners) more power hungry, risking dangerous centralization. Their opponents believe that Bitcoin should be a gold-like “store of value” more than a cash-like instrument, and that congestion can be mitigated without drastically changing the size of archive files — mostly by using secondary systems to conduct more transactions outside of the main blockchain.

Bitcoin Cash was itself an outcome of this dispute. It was created through a hard fork in early August — an event is seen as something of a footnote at the time – and is distinguished from Bitcoin primarily by its larger block size.

Segwit2x was intended to be a more moderate solution, giving both factions a bit of what they wanted. But it still couldn’t gain enough support to be implemented on the primary Bitcoin blockchain. When they announced its cancellation this week, Segwit2x organizers concluded that forcing a fork, or the creation of a separate 2x network, would “divide the community and be a setback to Bitcoin’s growth.”

While many supporters of smaller blocks celebrated the cancellation of the 2x fork, we may be seeing a functionally similar weakening of Bitcoin play out anyway. According to CoinDesk and the tracking site Fork.lol, Bitcoin Cash’s total cryptographic power, or hash rate, passed Bitcoin’s early Sunday morning (GMT).

Bitcoin’s total dollar value is still more than four times higher than Bitcoin Cash’s, but the hash rate and price shifts have led some to predict that Bitcoin Cash will supplant Bitcoin as the leading cryptocurrency blockchain within months. That may be a stretch, but it’s true that transaction backlogs on the classic Bitcoin network are still an issue, and Bitcoin Cash claims to solve it. Moreover, analyst Willy Woo told CoinDesk that Bitcoin Cash is now heavily backed by Chinese traders and miners, making BCH a “strategic and geopolitical bet” on Chinese influence.

http://fortune.com/2017/11/12/bitcoin-upheavel-segwit2x-fork/