I think I will try to avoid buying or selling just before/after the hard fork.... Just in case my transaction is confirmed in the shorter chain(s) and not the longest chain.
Around that time, I will just sit and wait for the thunderstorm to be over.
Topic: Hard fork and price - beside the panic (Read 1504 times)
It will be a huge fricking mess. The market will react badly because the only thing markets want is stability: this situation could be pure destruction or a new beginning.
After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
The price will respond positively because the market wants stability. 1MB blocks is an unstable system because no one knows if they will be able to continue using bitcoin or not, and because the economics are completely changed.After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
At least at the beginning it will bring confusion and fear in the markets because we can't precisely foresee the outcome.
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The hard fork maintains the current economics and shows users will continue to scale bitcoin as needed. That lowers risk.
I'm not so sure, it depends on how it's done. It will be a huge fricking mess. The market will react badly because the only thing markets want is stability: this situation could be pure destruction or a new beginning.
After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
The price will respond positively because the market wants stability. 1MB blocks is an unstable system because no one knows if they will be able to continue using bitcoin or not, and because the economics are completely changed.After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
The hard fork maintains the current economics and shows users will continue to scale bitcoin as needed. That lowers risk.
A hard fork will indicate a high degree of disagreement among Bitcoin users, and for a currency to succeed, it is key that it is accepted by as much people as possible.
FTFY
Seems to me the number of transactions will grind to a standstill as no-one wants to accidentally end up on the losing fork.
Does anyone know why there is this sudden panic to up the block size? Are the blocks nearly full just now? I just don't see whats the panic, it is easy to increase to some new arbitrary level when needs to be done, so why do it early before its needed. It will just make blockchain grow bigger quicker before its needed.
I admit not knowing all the details but my gut tells me that the core devs are doing fine and no need for these 'hostile' fork takeovers
Does anyone know why there is this sudden panic to up the block size? Are the blocks nearly full just now? I just don't see whats the panic, it is easy to increase to some new arbitrary level when needs to be done, so why do it early before its needed. It will just make blockchain grow bigger quicker before its needed.
I admit not knowing all the details but my gut tells me that the core devs are doing fine and no need for these 'hostile' fork takeovers
Awfully convenient all this news (drama, whatever you want to call it) happening at the same time and right before the halving. Almost like getting a perfect 0 on the SAT.
A hard fork will indicate a high degree of disagreement among Bitcoin users, and for a currency to succeed, it is key that it is accepted by as much people as possible. Division in order to "win" and make the others accept your fork is going nowhere. If you divide once, you could divide twice or more, being accepted by less and less people each time.
Hard fork will be worse than the crises so far - because those who will buy coins from one of the forks will eventually lose their money. But yeah - after some turmoil the market will adopt - and next time a similar event happens it will be 'just normal operation'.
The interesting question is how that adaptation will happen.
The interesting question is how that adaptation will happen.
I see this as a BIG problem for cryptocurrencies. It's hard enough to get most people to upgrade their operating system once every decade, how do we expect them to know how to and maintain and update a Bitcoin wallet with money inside?
This is one reason I never see banks going away, joe public just doesn't trust holding their own money.
I agree with you that it will be a big problem for the average user.Most people find it hard to understand what hard fork is about and how it will affect on them.
Certainly there will be volatility and probably a buying opportunity. If a hard fork looks imminent it would be a good idea to get your bitcoin out of online wallets so you have control of your private keys. Use a hardware wallet like Trezor, Ledger or KeepKey.
Hard fork will be worse than the crises so far - because those who will buy coins from one of the forks will eventually lose their money. But yeah - after some turmoil the market will adopt - and next time a similar event happens it will be 'just normal operation'.
The interesting question is how that adaptation will happen.
The interesting question is how that adaptation will happen.
I see this as a BIG problem for cryptocurrencies. It's hard enough to get most people to upgrade their operating system once every decade, how do we expect them to know how to and maintain and update a Bitcoin wallet with money inside?
This is one reason I never see banks going away, joe public just doesn't trust holding their own money.
Price will crash - creating a huge buying opportunity. Price will spike as halving approaches.
I think there absolutely will be a hard fork, the question is when & in which form.
I'm hoping Core activate SegWit & we then later, only when necessary upgrade to 4MB blocks.
I'm hoping Core activate SegWit & we then later, only when necessary upgrade to 4MB blocks.
I think the hard fork will not bring too much problems as the current mess is the result of NOT having a solid forking plan yet.
People are waiting for a solution, even if that means hard forking.
People are waiting for a solution, even if that means hard forking.
Exactly. If nothing is done, and transaction volume gets too high, and the network starts dropping transactions, THEN people will really panic and lose faith. An increase in block size is inevitable if bitcoin is to continue to grow. Most know this. I saw somewhere that 72% of the 75% required for bitcoin classic (2MB blocks) are on board already.
There are no issues with a well planned hard fork what is accepted and approved by miners and users as well. That would even increase confidence in bitcoin. On the contrary such ninja fork attempts what Gavin trying to do again, will surely destroy confidence for a long time.
I think the hard fork will not bring too much problems as the current mess is the result of NOT having a solid forking plan yet.
People are waiting for a solution, even if that means hard forking.
People are waiting for a solution, even if that means hard forking.
as i see it , this how it work, everytime for all these changes and possible fear about the bitcoin value
after the thing happen usually people dump and instigate a panic sell , around 20-30% of the value will fall, then there is a stop of that fake dump, as a result the price initiate to slowly recover
we have seen this thing many times, already, to not think what the outcome will be for the future of bitcoin and all the changes related to it, that may possibly happen
after the thing happen usually people dump and instigate a panic sell , around 20-30% of the value will fall, then there is a stop of that fake dump, as a result the price initiate to slowly recover
we have seen this thing many times, already, to not think what the outcome will be for the future of bitcoin and all the changes related to it, that may possibly happen
Hard fork will be worse than the crises so far - because those who will buy coins from one of the forks will eventually lose their money. But yeah - after some turmoil the market will adopt - and next time a similar event happens it will be 'just normal operation'.
The interesting question is how that adaptation will happen.
as i see it , this how it work, everytime for all these changes and possible fear about the bitcoin value
after the thing happen usually people dump and instigate a panic sell , around 20-30% of the value will fall, then there is a stop of that fake dump, as a result the price initiate to slowly recover
we have seen this thing many times, already, to not think what the outcome will be for the future of bitcoin and all the changes related to it, that may possibly happen
after the thing happen usually people dump and instigate a panic sell , around 20-30% of the value will fall, then there is a stop of that fake dump, as a result the price initiate to slowly recover
we have seen this thing many times, already, to not think what the outcome will be for the future of bitcoin and all the changes related to it, that may possibly happen
It will be a huge fricking mess. The market will react badly because the only thing markets want is stability: this situation could be pure destruction or a new beginning.
After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
I don't think it would be that bad. It should work just like it works now with normal chain forks - after some time one of them just dies. If one of the forks is less popular it will die quickly - those who invested in coins mined in it will lose - but all the old coins will do just fine, and by definition there will not be that much of those new coins. Then at another fork - we'll know how to behave.
The exchanges will be the most important factor if a hard fork happens because they decide which fork you can sell coins from. There are small exchanges that might be struggling to sty afloat and take advantage by selling the same coins on both forks. The big exchanges could push people into accepting one fork if they support it. The whole thing will be a nightmare clusterfuck if it happens.
It will be a huge fricking mess. The market will react badly because the only thing markets want is stability: this situation could be pure destruction or a new beginning.
After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
After Mike's revelation an hard fork now will bring BTC to the floor simply because the market will not understand it. But there can be a recovery only at a price of even more centralization which is something will bring more panic in the community.
To me, this whole thing is just a big mess.
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