"The Real Bitcoin" - page 2. | Bitcointalksearch.org

eckmar

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Quote from: Xavofat on November 04, 2017, 07:05:32 AM

Of the top 20 exchanges, none of them will explicitly support the new chain.

Thats all cool but where is the big guy Poloniex ? Most of the people here are using Poloniex as exchange. It would be great if they list Segwit2X chain as something other than BTC

Carlton Banks

legendary

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Quote from: ?? on ??

This new coin "BTC 2x" or "Segwit2x" is increasing the block size from 1MB to 2MB

No.

Bitcoin now has 4MB (not 1MB) blocksize
Segwit2x increases to 8MB (not 2MB)

hatshepsut93

legendary

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Exchanges will list B2X as an altcoin, so you should ask instead would people move to an altcoin? And I believe the answer is no, all these years we had thousands of altcoins with bigger blocks, faster block time, some even adopted SegWit - yet none of them reached the same adoptions by merchants and users as Bitcoin. If B2X won't provide adequate replay protections it will be even worse than any altcoin, because people would have to forfeit their Bitcoins to use it if they will choose to claim their airdrop.
As for miners, hashrate does not determine what Bitcoin is, B2X miners will be mining invalid Bitcoin blocks so it will have no impact on Bitcoin's network. If you could so simply dictate your will to others by having majority of hashpower, than Bitcoin would not be decentralized and secure.

filharvey

hero member

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Definitely,its a matter of serious concern.we earlier saw that more mining pools supported segwit 2x and it turned to be a worrying aspect.Segwit 2x had almost 95% of hash power.

But later,F2Pool announced that it would withdraw its support for segwit 2x.Its chief wan chung said that they believed that the bitcoin core team would support segwit 2x.

But when they saw that bitcoin core team do not support segwit 2x,they were forced to withdraw their support for segwit 2x.More pools were expected to withdraw their support near the activation date.

If it happens,then the legacy bitcoin would remain as real bitcoin and its price would shoot up.

Whatever exchange announces its support for segwit 2x,that doesn't matter.It seems that segwit 2x would not get enough miner support.

VitKoyn

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Quote from: cryptoDARO on November 04, 2017, 06:21:46 AM

What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.

The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?

The answer is no the Bitcoin created by "Satoshi Nakamoto" will remain the real Bitcoin and Segwit2x will fail. If majority of miners will support B2X then let it be, they are not the only one who can mine and confirm Bitcoin transactions, new miners will come and will have a chance to make profit. Why I dont want to support Segwit2x is because Segwit2x have no replay protection which means that when you make a transaction on BTC, then the B2X coins are at risk of being stolen.

Quote from: cryptoDARO on November 04, 2017, 06:21:46 AM

Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.

I don't use coinbase so I don't care.

Quote from: cryptoDARO on November 04, 2017, 06:21:46 AM

will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?

I don't know, maybe some people who are confused on what will happen after the fork will move their money to other coins.

Quote from: cryptoDARO on November 04, 2017, 06:21:46 AM

What is your plan so far and what do you expect?

My plan is to hold and I expect other BTC holders will do the same.

Xavofat

hero member

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Merit: 559

Did you see that ludicrous display last night?

Of the top 20 exchanges, none of them will explicitly support the new chain.

They are all saying either that the original chain is BTC, not releasing a statement or claiming that the hashrate will decide. Notably, if the price is lower for SegWit2x, it's unlikely that the hashrate of that chain will stay higher for long.

I would argue that "unknown" is somewhat supportive of the original chain, because taking no active steps to support the new chain may imply that the exchanges are staying as they are. To change to the new chain, the exchange would have to actively support it, and therefore the "default" is basically the old chain.

Also, Coinbase seems to have released several contradictory statements about the fork, and their position is much more confusing than it is presented on the article.

terrific

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Still we can't decide unless we'll see what will be the impact of Segwit2x after it's hard fork. But there's a big support of majority miners on it. The real bitcoin you are saying shall be called as the "Legacy" bitcoin, I've read somewhere that suggests to call it as "Classic" bitcoin but mostly is calling it as "Core" bitcoin. There's so much call for bitcoin because of these hard forks and there's no way for people will abandon the old bitcoin since we don't much that hassle with regards to bitcoin. Some will get into alt coins but still the majority will win on this and we'll have one coin.

13abyknight

sr. member

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Having already seen two hard forks in this year itself, it is evident that even if Segwit2x receives a lot of support, it will not be able to budge Bitcoin. Coinbase is just trying to drive their user base to support it too as there's definitely some favor they are being offered by the Segwit2x team, monetary or not. Also keep in mind that many organisations and even some countries have declared a war on the upcoming hard fork.

davis196

hero member

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There`s no reason for the majority of the people and miners to choose BTC 2x and leave BTC core.
I`m sure that many people will realise that Segwit is just a way to centralize bitcoin and they will stick to the bitcoin core.We don`t have any problems with slow transactions and very high transaction fees,so there`s no need to switch to Segwit.

cryptoDARO

newbie

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What I mean by "The Real Bitcoin" is the one that people will choose. It gives me a lot of concerns about the future of BTC.

The upcoming Segwit 2x hard-fork will deploy a B2X coin and if that coin will gain the majority of mining support what will happen then, will people abandon old BTC?
Coinbase has said they will label the coin with the majority of mining support as "BTC". So if B2X will make it, then it'll be called BTC there.
How will it impact the whole cryptocurrency markets, there will be a lot of confusion I guess - will people cash out or move into altcoins?
What about other forks of Bitcoin - BCH, BTG and more to come?

What is your plan so far and what do you expect?

Topic: "The Real Bitcoin" - page 2. (Read 603 times)