Nobody can know what makes market participants panic sell in such a way. I guess it is a mix of:
1) Fear that the ETF does not pass (be aware that odds are against it passing)
2) Jihan Wu being cocky and mining BU blocks (BUcoin scam will cause havok just like ETH/ETC)
At the end of the day everything will be allright, or that is what I hope.
The ETF will not pass, but the SEC will be positive towards a future attempt.
BUcoin may fork, but ultimately people will dump their BTU for BTC. BUcoin will be another marginal altcoin with stagnating price and marketcap as the developers can't keep up with the Core devs.
Topic: BU (Bitcoin Unlimited) and ETF Newbie questions - page 3. (Read 1692 times)
Is BU a new altcoin that just come out recently or is it a upgrade to the existing BTC coin network?
It's a rogue altcoin, pretending to be "what Bitcoin is supposed to be"
If upgrade then what is the differences between the 2 and the disadvantages of upgrading to BU? When will the upgrade happen?
Completely unknown, BU allows nodes to configure all sorts of variables that are supposed to be constants. Depending on how the aggregation of users sets them, a fork could happen at 51%, 25% 75% or anywhere in between
Regarding the recent price bubble bursting is this caused by the EFT info leak or threat from BU or the chinese making a statement or anything else?
You'd have to ask each and every person that sold their BTC in the dip.
Will BU will cause confusion do adopters and Investors who want to buy BTC?
Short answer, yes lol.
Lets say down the line in the future for example in 6 months someone might create SBU (Super Bitcoin Unlimited) and after that someone creates SBUT (Super Bitcoin Unlimited Turbo) and after that someone creates UBHD (Ultimate Bitcoin HD). Then what happens?
Forks left right and center, in essence. Or at least a strong potential for that.
Is BU a new altcoin that just come out recently or is it a upgrade to the existing BTC coin network?
If upgrade then what is the differences between the 2 and the disadvantages of upgrading to BU? When will the upgrade happen?
Regarding the recent price bubble bursting is this caused by the EFT info leak or threat from BU or the chinese making a statement or anything else?
Will BU will cause confusion do adopters and Investors who want to buy BTC?
Lets say down the line in the future for example in 6 months someone might create SBU (Super Bitcoin Unlimited) and after that someone creates SBUT (Super Bitcoin Unlimited Turbo) and after that someone creates UBHD (Ultimate Bitcoin HD). Then what happens?
If upgrade then what is the differences between the 2 and the disadvantages of upgrading to BU? When will the upgrade happen?
Regarding the recent price bubble bursting is this caused by the EFT info leak or threat from BU or the chinese making a statement or anything else?
Will BU will cause confusion do adopters and Investors who want to buy BTC?
Lets say down the line in the future for example in 6 months someone might create SBU (Super Bitcoin Unlimited) and after that someone creates SBUT (Super Bitcoin Unlimited Turbo) and after that someone creates UBHD (Ultimate Bitcoin HD). Then what happens?
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