Bitcoin Forum

After all that fuzz we saw in the past couple of weeks, Bitcoin Classic has just been released as I was just told via their email newsletter. Ready for download!

Your views? Will it be the doom of Bitcoin? Will it finally allow it to scale and most importantly, what will happen to the price???

Go!  :)

My only prediction is - another trillion words of screaming and smearing on both sides per day until it reaches a critical mass and the internet commits suicide.

I suspect most people are just like me. Tired of the drama, not giving a damn about classic, little if any impact on the price.

Thats the regular joe right there, same goes for me.

Release means nothing. Miners lining up to support Classic and a permanent network split that may result from their actions is quite another matter:
http://bitcoinocracy.com/arguments/in-the-event-of-a-fork-i-will-sell-rbf-blockstream-core-coins-and-buy-classic-bitcoins

oh wow now im kinda afraid of this whole thing as the price might fall down because of a possible network split

I'm up for BTC price going down, frikkin thing's been above 300 for ages.

Well, based on what I can see with the price, the average on each exchange has gone up >$10 over today, so that means either people are buying Bitcoin because classic was released and it is not living up to expectations or other reasoning. I wonder how people are going to react to classic.

Ahahah!

Yeah it won't do anything. Why would it?

The only thing that will affect the price will be the resolution of the size issue.

Well, I don't believe we will see doomsday when 2MB blocks hit or anything like that. It's long overdue and so I switched. It will help Bitcoin to scale and once we need other solutions, I'm open to rethink the situation. Best thing about BTC is that it evolves. I've seen BTC hardfork before and it's not problematic at all.

This is the average joe! Not the people who are bored with the news about core, forks, blocksizes above.... those people are average bitcointalk-regulars!

I think the average joe, including many speculators who are technically not very savvy, will think exactly the same, and drop it like it's hot. I'm waiting for that very moment to buy back in as I sold all my BTC for ETH, DASH and XMR @ 397 €. I''l buy back in at half that price.

You have some balls! Then again, it's easy to say when you only own 0.19 BTC or so. If I was you, I wouldn't wait too too long to buy back some of your BTC.

Classic released, Bitcoin UP!


There's definitely going to be some rage dumping if the fork actually happens, but after that... double the capacity for an epic rally.  :)

Don't think it will have that much effect on the price. Some people might try it for a few days but they will switch back to Bitcoin Core again as they see the adoption of Classic is severely lacking interest from people.

Not worried about rage dumping. Because perfect opportunity for major institutional investors, the ones waiting in the wings & keeping the price down to accumulate 8)

Thank you. It was one of a very few trades that were succesful. However it has been very succesful. Bought ETH @ 0.0038 haha. DASH @ 0.009.

It sure wasn't an easy decission.

I stand by my analysis. I''m waiting for a fork, blood in the streets, then I will buy back in and double up for a second time.

Bah. Don't think too much about that.

Halving is coming, and with it a decrease of btc supply. So btc price can't fall down too much. And after that the size issue will be resolved at a moment or another.

The only final result is the rise of btc!

Dream on. No one in their sane mind will invest in Toomincoin: http://bitcoinocracy.com/arguments/if-non-core-hard-fork-wins-major-holders-will-sell-btc-driving-price-into-the-ground

Classic maintainers let it slip that they are planning a major "reorganization" of Bitcoin governance, including "popular voting" on 21M coin limit: https://www.reddit.com/r/Bitcoin/comments/4326ya/jonathan_toomim_on_bitcoin_classic_everything_can/

Doesn't really boost investor confidence, does it?

Jeff and Gavin are now lead maintainers of Classic. The Toomin's are re-listed as consultants of some kind.

oh nice, i hope that the price will go up because of that, but i dont think it is possible because people will be afraid of a drop

By this reshuffling alone you can tell that there is much more going on than just "an increase to 2MB everyone wants! no surprises!"

You may want to read the white paper again. If Classic wants to do something against the hashpower majority's interest. The miners will fork away from Classic, just like what could happen if Core continues to stall and only do things in the interest of Blockstream. Bitcoin routes around attempts to steer and control it.  :)

Pretty simple really.

As for the bitcoinocracy link that Gregory and friends link like a tourettes tick, I already covered it, I bolded the relevant phrase.

I could play that silly game too:
https://www.reddit.com/r/btc/comments/41r561/150k_btc_between_personal_holdings_and_associates/

It doesn't matter much tho, miners will choose what is in their (and by extension, the economy's) best interest. It's part of the fundamental architecture of the network.

The people that have the funds to influence the price don't care at all about this. Why would they? It's just an altcoin.

This is going to fun for a few months.

Trading volatile exchanges with noobs  8)

it is definitely interesting to see that despite all the speculations for price decrease due to bitcoin classic release , the price is going the opposite way up.
i think part of the reason why the price did not take hit so far is because there is only nodes and no mining power (apparently) dedicated to bitcoin classic. all the blocks are being mined with core so far.

i think not, because it is china that pump the price basically, and they already made their decision about the hard fork/soft fork

at worst there will be some swings here and there, but the final outcome will be an increase

the resistance has been so much that it is preventing the bitcoin classic effect on bitcoin price, besides there is nothing really happening yet.
so i guess we should wait and see how things turn out. it is soon to decide.

Yeah but I wonder if now is the good time to buy.

I'd say there will be a short down before seeing the increase. Maybe it's worth waiting for the 350 again!

I believe that if any fork happen, this will harm bitcoin badly.

It depends under what circumstances a fork would happen.
A contentious fork is definitely pure venom and should always be avoided.
If however the community has found consensus a fork is nothing to worry about.

And in terms of the actual situation the majority of miners with almost 90% of the hash power have stated that they are against this hard-fork attempt by classic.

I wish they would stop marketing these altcoins as an improvement to Bitcoin, to me it seems like they are trying to "take over" bitcoin like they did with XT.  Regardless what you call it, there's only one bitcoin and I doubt many people (especially the Chinese) will adopt this new altcoin over core.

Classic has already been stated as "not being accepted" by the community, so it's like majority always wins...
There ain't any possibility for this "clone" kinda thing to affect the price at any cost...

Lol, don't know which community you've been talking to. Classic's doing just fine :)

http://s9.postimg.org/o79ourblr/Capture.pnghttps://coin.dance/nodes

More FUD? It's not an altcoin. Once a majority consensus is reached for bigger blocks and people switch over it is still Bitcoin. With your definition current bitcoin is an altcoin, it has been forked several times! Stupid! If you're against change buy some namecoins.

Segwit will help BTC scale properly, by helping lay a solid foundation for building out Layers >1.  Doubling tps from 3 to 6 does nothing to help scale and harms decentralization for no good reason.

We've never seen a contentious hard fork, so let's not assume they are "not problematic at all."

You do realized that contention represents the possibility of formerly cooperative, suddenly-competing socioeconomic factions engaging in a fork war and risking catastrophic consensus failure, right?

The best thing about Bitcoin is that is consensus critical, yet distributed.

Evolving for nothing more than the vanity and pride of being seen to Do-Something-Because-Reasons is anathema to the Honey Badger ethos.

Control your impatient impulses.  The block size will be raised eventually, but sorry, not tonight dear!

well it will affect the price for sure, i just hope that the affect wont be too negative, im a bit afraid that my bitcoins will lose a little bit of worth though i guess it will be a good time to buy

It's looking like Classic has fallen the way all the other altcoin/sidechain wannabes have. Your bitcoin's won't lose any value as a result of Classic.

Don't worry, this Classic thing won't cause any damage to the price of Bitcoin. If your coins are losing some of their value, then it's due to the price moving down as a normal market action. Price goes up and down all the time.

But mainly down :(

https://coin.dance/charts

Looking good for Classic. I believe we will get 2MB blocks first and other scalability solutions later. And the "not tonight" my dear...lol, maybe tomorrow night. Who knows?

Yes. BTC has many problems now which will affect its value in the short/medium term.

have not heard about that link till now. i use http://xtnodes.com/ to check status (is the information on it correct?) and according to it the number of blocks mined with bitcoin classic is still 0
and i don't think number of nodes is important. the hashrate is more important because it shows the miners are behind it or not.

anyways i wish this issues becomes solved sooner than later.