Will a new Chain/Coin be created by the Nov. Fork?

HeRetiK

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Quote from: HashFace on October 06, 2017, 03:35:12 PM

From what I understand, the BitCoin Gold fork is different than the potential SegWit2X Fork.

BitCoin Gold will launch Oct 25th, and is basically someone's attempt to "cash in" by splitting the chain. The SegWit2X Improvement will activate around Nov. 18th, and as I understand it, could be another split point in the chain where a group may attempt to continue mining on the "unimproved" block chain to create another coin.

Is that accurate?

You are correct, the Bitcoin Gold fork is a different one from the SegWit2x fork.

Bitcoin Gold plans to replace Bitcoin's original Sha256 proof-of-work hashing algorithm with a new, ASIC-resistant hashing algorithm.

SegWit2x plans to double Bitcoin's blocksize, which will lead SegWit2x to split from the original blockchain. Be aware that SegWit2x is a move away from Bitcoin's original development team.

exstasie

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Quote from: HashFace on October 06, 2017, 02:20:26 PM

I'm still unclear on this. I've read numerous articles and I've seen that the segwit2x improvement is highly opposed, but none of these articles state whether or not anyone with great hashing capacity actually intends to create a 'new' coin and continue mining on the "unimproved" BlockChain.

What is the verdict on this? Yes, No, We don't know yet?

A new chain/altcoin is always created by a hard fork. The question is whether there will be a network split: Will every single Bitcoin user migrate to the new Segwit2x network? That seems unlikely. Will nobody migrate to the new network? There is a slight chance, but I wouldn't plan on it.

Will some users and some share of the global hash rate switch to Segwit2x? My bet is on the third option. I think that, at least for a time, the Segwit2x fork will look a lot like Bitcoin Cash. I think they are each other's greatest competitors, in fact. Each is competing to be Bitcoin's #2.

HashFace

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From what I understand, the BitCoin Gold fork is different than the potential SegWit2X Fork.

BitCoin Gold will launch Oct 25th, and is basically someone's attempt to "cash in" by splitting the chain. The SegWit2X Improvement will activate around Nov. 18th, and as I understand it, could be another split point in the chain where a group may attempt to continue mining on the "unimproved" block chain to create another coin.

Is that accurate?

MMysterious

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Yes I think a new coin is expected to launch or appear after the November fork just like what happened on the recent fork. But the real question is if it will stay long or will the coin be dead just like the BCC coin which did not progress because of course most people dispose the coin soon after they received it.

malikusama

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Quote from: HashFace on October 06, 2017, 02:20:26 PM

I'm still unclear on this. I've read numerous articles and I've seen that the segwit2x improvement is highly opposed, but none of these articles state whether or not anyone with great hashing capacity actually intends to create a 'new' coin and continue mining on the "unimproved" BlockChain.

What is the verdict on this? Yes, No, We don't know yet?

Yes it is expected that a new coin is going to launch in the coming Fork, I have seen in several threads and on websites that it will be named "Bitcoin Gold". Well the segWit2x is opposed by many people of the network but i think we will need this improvement for the betterment of bitcoin network and of course for us(users).

bitart

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Quote from: Emoclaw on October 06, 2017, 03:00:01 PM

Yes, that's what a fork basically is.
It will be the same thing as with Bitcoin Cash, there will be a new chain and a new coin.

If there will be a new chain and a new coin, the new coin will be considered as an 'alt' for some time, and after we well see if someone will use it or not. We will receive the new coins like the previous (BCH) fork, but nobody knows if the new coins will have value or not.

Emoclaw

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Yes, that's what a fork basically is.
It will be the same thing as with Bitcoin Cash, there will be a new chain and a new coin.

DaMut

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i heard a rumour that we should see another 'new' coin because of the split,
and that coin will be called 'Bitcoin Gold' or i do not know what will it be.
but from what i heard,
this coin will be different,because it has function to support the Bitcoin.
look at this statement :

Quote

The team that is behind Bitcoin Gold have explained that this fork is much different than the Bitcoin Cash fork that occurred earlier this year. Bitcoin Gold is supposed to be a complementary system that supports Bitcoin as it grows

which mean,it will be the supporter of Bitcoin itself,and it will be a new competitors for BCH and others.
and also read this :

Quote

There is a possibility that the Segwit2x split in November is a failure. With that in mind, Bitcoin Gold would be there to pick up where Bitcoin left off if it was necessary

well,only time can tell us what will happen in the future.
for your reference i got it from here :
https://cryptocoinmastery.com/october-bitcoin-gold-hard-fork-need-know/

aso118

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Quote from: HashFace on October 06, 2017, 02:20:26 PM

I'm still unclear on this. I've read numerous articles and I've seen that the segwit2x improvement is highly opposed, but none of these articles state whether or not anyone with great hashing capacity actually intends to create a 'new' coin and continue mining on the "unimproved" BlockChain.

What is the verdict on this? Yes, No, We don't know yet?

Yes, a new coin will be created. But the question is whether it will be dead on arrival or not. You and I can decide to fork Bitcoin. But if we don't have any support, no new blocks will be found and people will just ignore this fork.

HashFace

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I'm still unclear on this. I've read numerous articles and I've seen that the segwit2x improvement is highly opposed, but none of these articles state whether or not anyone with great hashing capacity actually intends to create a 'new' coin and continue mining on the "unimproved" BlockChain.

What is the verdict on this? Yes, No, We don't know yet?

Topic: Will a new Chain/Coin be created by the Nov. Fork? (Read 291 times)