Is Bitcoin Moving Towards Yet Another Hard Fork ?
As if one hard fork was not enough bitcoin now faces yet another possible hardfork to be happening. This steems from Bitpay downloading and activating BTC1 on their systems and announcing it which triggered a firestorm of backlash from people such as bitcoins core developers John Newbery as "dishonest and dangerous" and Lightning Network creator Tadge Dryja calling it "Straight up malware"
It seems like we take one step forward and then two steps back and honestly bitcoin needs to start pulling together and getting their **** together here soon before the entire network just blows up!
This single tweet from bitpay could have been enough to panic sell that we saw last night where bitcoin went from $4,100 all the way down to $3.600 ! (missed that buying opp lol)
All of this comes from Segwit2x which is being pushed back on by the core developers but also in my opinion leads me to believe that bitcoins core honestly is not open for any changes at all. I have yet to see anything from the core developers as to how to alleviate the high fees and beef up bitcoins block chain to be able to handle and adopt. I believe now is the time they need to step up and put a plan in place. It does not need to be acted on but they need to step up before more and more miners and side developers continue to hard fork bitcoin.
For everything else, there's Bitcoin Cash.
Bloody hope not it causes kaos, cheers mike
The core fork will come in Nov when Segwit 2x forks from the main chain. It was expected that the other chain would die shortly after but if not, we will have yet another coin. This may work out (like bitcoin cash did) or could drag btc down. Difficult days ahead!
I have a feeling bitcoin cash already had a market value behind it when it split and it was supported by the Chinese government. (theory) But as soon as it split it had a market cap of 5 billion out of no where it literally made no sense lol also one major unkown miner that holds about 60% of the mining power for bitcoin cash also could be Chinese government.
Splitting it again only draws money away from bitcoin and makes it not so much of a key player eventually bitcoin is just going to be an ALT itself if they don't start to make changes.
It's not that it will draw money away. I feel market cap is irrelevant in this context. It's the fact that bitcoin and crypto generally needs to become more simplistic and easier to use if it's ever going to be adopted by the masses. Splitting or forking every few months does not help, it puts people off. How can a merchant accept bitcoin if next week it's bitcoin cash he needs to accept and next month it's a different version again. Bitcoin needs to get its shot together and agree on a way forward, a single way forward or the whole project will suffer!
Exactly my point, if we keep spiting over and over again like this there wont be a standard and its will just be a big cluster F of worthless junk thats not accepted anywhere. Having a high market cap is what has brought in talks of stock markets, more merchants and the public knowing about it.
Bitcoin cash mined by 3 Pool ok. bitcoin not worth mining anymore if we don't have a factory ok. ethereum going POS soon ok . and then a new hardfork for bitcoin . don't you think that the blockchain isn't getting us anywhere? LoL
It's really not I think bitcoin developers need to stand up an announce something major this month or even this week. ETH going POS is going to be crazy!
@bitcoinflood do you know about ethlend?
nope?
what is ethlend
Take a look at ethland.io
I really enjoyed your post, thank you for sharing with us. Enjoy the vote!
Core is very conservative for justifiable reasons but they should just fork bitcoin and do their own thing because I want to see what can be done with bitcoin with segwit and LN.
Stifling progress for no reason other than to stifle progress is not a justifiable reason. They are intentionally keeping innovation out of the hands of the people. This is treasonous, and the reason people are forking Bitcoin.
People can fork and make their own currency. Isn't that the point? Nobody is stopping anyone form doing anything.
The people who are upset are just upset because the market doesn't agree with their philosophies and the money wont follow them.
The bitcoin core has been censoring and stifling progress for about 2 years now. Where have you been ?
Let's be fair to bitcoin core because Bitcoin will not be Bitcoin today if not for them. It will be like Skype, Minecraft and Paypal. Hijacked by the old guard of central banking. Bitcoin Core are martyrs of all Crypto currencies. As for the fees they are fixed but since the Bitcoin rose to 4000 the fees seem to increase as well..
Same block size means same fees when transactions go wild again. Lightning at least will help with the micro transactions its a step in the right direction but these user activated hard forks need to stop and need to stop having so many people back them. It most likely is going to happen more now that bitcoin cash holds so much value.
We need the same block size so as not to clog the infrastucture. There is a need to unclog the system with same size blocks and not to clamor for 8MB blocks that will kill the system.
Lightning network is not a "step in the right direction" and does not scale the way Bitcoin was originally intended. More needs to be learned about the blocksize debate if you truly think the lightning network is a step in the right direction. BitcoinCore has been hijacked.
BitcoinCash. For. Life.
Lightning will reduce the demand on the block as it removes micro transactions thus reducing massive fees to process small moves. BCH not for life bro that is a massive mistake.
It's a mistake to those who follow the mainstream and feel that "off chain" transactions are good for bitcoin.
Enjoy the globalized network controlled by the very same people that Bitcoin was created to get away from.
/boggled by your response.
True they need to get their act together
Another hard fork is happening, better to sell bitcoin now while its hot and buy lot of steem. I wonder why this people choose BTC over steem to the fact that steem has no transaction fee and exchange can be done swiftly, in a couple of mili second only.
Why would you sell BTC now? After seeing what happened the last time it forked, you'd be crazy to get rid of it prior to the next fork. If the new coin and the old both hold value like BTC and Bitcoin Cash then it would be smarter to BUY IN before the split so you could get both coins.
That is not how a normal fork happens like I stated BCH had massive amounts of outside funding before it was even converted over. If you want to see what happens during a normal forking check out Ethereum Classic
Yeah, ETH and ETC both have value. If you got out before the split you'd be kicking yourself right now.
It's more that bitcoin is accepted just about everywhere now. However some places are not accepting other alt coins so unless Bitcoin starts shaping up and it core developers start putting together a true plan and start moving on that plan this is going to continue to happen. They really need to put out an announcement.
Therefore Litecoin :)
Funny how I made 3 deposits on Exchange with Litecoin yesterday AFTER I had already deposited some Bitcoins.
All 3 Litecoin transfers were confirmed before the Bitcoins. Lol
Bitcoin is slow and that is common knowledge :)
but it still dominates
maybe a fix in the future is priced in