Will UASF affect Bitcoin ? - page 2.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: JGoRed on June 20, 2017, 10:07:20 AM

I'm sure it will affect the price, however in a sense we've got nothing to lose. If it works then we have Segwit and the price will probably skyrocket, if it doesn't then the price will drop; however with the insane transaction fees the price will probably begin to drop like a rock anyway

I'm curious what your reasoning behind this assumption is

So far we have seen the opposite effect. Bitcoin prices have been rising along with the fees, and the latter seem to have been rising even faster. That can be easily explained by the fact that fees and prices are not very tightly related to each other. Fees mainly depend on the number of transactions and the block size (whether these transactions are genuine or spammy is another question), while the price is determined on exchanges by the balance of supply and demand, while you don't need to make a transaction to make a trade

jc89

sr. member

Activity: 364

Merit: 250

Quote from: Zaizoun on June 12, 2017, 12:25:36 PM

If soft fork happens successfully, then price willl rise , if not , btc price will fall hardly .
It's a gamble

What do you think ?

UASF will definitely affect Bitcoin since every event in Bitcoin plays a role that significantly affect Bitcoin directly or indirectly. So the question here is what will be the effect. As to what you've claimed in the OP, there are only 2 possible destination of Bitcoin after the UASF and that is up and down. We cannot be certain of what will be the effect of the upcoming UASF, whether it makes Bitcoin's price soar or drop, let us just hope that the end result will benefit Bitcoin as a whole.

JGoRed

full member

Activity: 210

Merit: 100

I'm sure it will affect the price, however in a sense we've got nothing to lose. If it works then we have Segwit and the price will probably skyrocket, if it doesn't then the price will drop; however with the insane transaction fees the price will probably begin to drop like a rock anyway.

setupbounds

hero member

Activity: 910

Merit: 509

First of all, UASF, or "User Activated Soft Fork" has not affected bitcoin in the past significantly.
But technically and theoretically it can have a dramatic effect, so we just can not underestimate or ignore the possibilities to impact.

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

Quote from: Zaizoun on June 12, 2017, 12:25:36 PM

What do you think ?

Depends what side of the fork we end up on.
UASF is a trigger option that is forced into play because of debate and disagreement on the path we take.
In regards to the prices what happens afterwards is very difficult to ascertain.

pooya87

legendary

Activity: 3472

Merit: 10611

there are a lot of things going on right now which makes it even harder to say anything about how it will go and specially how the price will be because of this.
obviously the smoother the transaction will be the better it is for bitcoin's future and short term price. but it seems like it won't be smooth at all.

as far as BIP148 UASF goes i don't think it will gain enough support to move forward. we may end up going to the next UASF, this one seems to be very rushed.
i personally hope we can come to a compromise and meet in the middle, splitting the network won't end well for bitcoin.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: Zaizoun on June 12, 2017, 12:25:36 PM

First of all , for those who don't know what UASF means : "User Activated Soft Fork"

"UASF is short for "User Activated Soft Fork". Its specification is described here.
It tries to force the activation of SegWit which is currently (~30%) unable to reach the required activation threshold (95%).
Between August 1st and November 15th, UASF nodes will consider all blocks invalid that do not explicitly signal support for SegWit, thus creating a fork. Within that fork, support for SegWit will be 100% which in turn triggers the activation threshold of SegWit (95%)."
https://www.reddit.com/r/Bitcoin/comments/64jky9/what_is_uasf/

If soft fork happens successfully, then price willl rise , if not , btc price will fall hardly .
It's a gamble

What do you think ?

The price is going to be deeply affected by whatever happens, if we finally get approval of segwit I will not be surprised if the price of bitcoin double in a matter of weeks or months but if it is denied, the price is going to crash, at least that is my opinion, we will still have a chance to approve segwit, but it will be the last chance to do so.

Zaizoun

sr. member

Activity: 358

Merit: 250

Quote from: Zaizoun on June 12, 2017, 12:25:36 PM

First of all , for those who don't know what UASF means : "User Activated Soft Fork"

"UASF is short for "User Activated Soft Fork". Its specification is described here.
It tries to force the activation of SegWit which is currently (~30%) unable to reach the required activation threshold (95%).
Between August 1st and November 15th, UASF nodes will consider all blocks invalid that do not explicitly signal support for SegWit, thus creating a fork. Within that fork, support for SegWit will be 100% which in turn triggers the activation threshold of SegWit (95%)."
https://www.reddit.com/r/Bitcoin/comments/64jky9/what_is_uasf/

If soft fork happens successfully, then price willl rise , if not , btc price will fall hardly .
It's a gamble

What do you think ?

Bump

Zaizoun

sr. member

Activity: 358

Merit: 250

First of all , for those who don't know what UASF means : "User Activated Soft Fork"

"UASF is short for "User Activated Soft Fork". Its specification is described here.
It tries to force the activation of SegWit which is currently (~30%) unable to reach the required activation threshold (95%).
Between August 1st and November 15th, UASF nodes will consider all blocks invalid that do not explicitly signal support for SegWit, thus creating a fork. Within that fork, support for SegWit will be 100% which in turn triggers the activation threshold of SegWit (95%)."
https://www.reddit.com/r/Bitcoin/comments/64jky9/what_is_uasf/

If soft fork happens successfully, then price willl rise , if not , btc price will fall hardly .
It's a gamble

What do you think ?

Topic: Will UASF affect Bitcoin ? - page 2. (Read 1086 times)