Bitcoin Forum

Hi everybody

Heard a lot latetly about the bitcoin fork, segwit, unlimited..
Whats your thoughts on it?
Will BTC moon to 10k or will it be dump?
Please explain.

Both could happen.

If a fork happens there could be two chains. One chain being dominant and the other having lower hashing power. The miners would just go to the dominant one because that is what people will use.

If another chain exists let it. Nothing we can do about it anyways, posting stuff here wont change what huge mining operations are gonna do. They literally have hundreds of millions of dollars. They could just buy bitcointalk and delete it if they thought this place had any influence over them. Or ddos it forever.

My suggestion. Transfer all of your coins to a wallet you contoll the private keys. When the fork happens you control your coins and not an exchange.

;D very funny! You are right as there are some moments that cannot be avoided if they happen. How to curtail the impact is what is important and that is finding a way to control your coins by yourself. Thank God for this forum that enlightened me on that, I would have been in the dark by now until the shit happens if it does eventually. I hope it doesn't though.

It is not the UASF option itself that matters

It is what happens next after if gets activated (accepted). UASF activation would prove in practice that full nodes have power over rogue miners once (http://www.uasf.co/) again, and thus the latter can no longer hamper or otherwise hinder Bitcoin development as they have been successfully doing for the last few years. The BIP148 proposal means activation of SegWit without miners' prior consent (or even despite their resistance)


Basically, miners are told to pack their things and go home if they disagree (provided this proposal gets accepted, of course)

I hope good things will happen because bad things are not good for bitcoin and if bitcoin crashes then bad things are going to happen in the crypto world, and the community should be worried for this, and I think that if bitcoin price crashes and other cryptocurrencies will have a drop of their value because bitcoin affects mostly all other cryptos.

I just hoping for the best as well. We really don't know what will happen. We need to wait and see how it goes. And if it crashes, then is too bad for the crypto world, and if become accepted then we will see the price mooning. I'm a little bit nervous but I don't have a choice really. Just keeping my coins on my wallet is the best thing that I can do now.

i am also hopping so. i am sure that after August/September every thing is going to be good and will be in favour of bitcoin. so hope that after August/ September the price of bitcoin is expected to increase more and hope that this time it is going to hit 5000 USD very smoothly. people are not going to sell their bitcoin but instead they are trying to invest more money in bitcoin.

The dominant chain will be what the miners choose. Not the other way around.  ;D
In any case, a hard fork will lead to chaos and some investors losing their money. Not a good thing to happen.

It all depends, because everything happening with bitcoin is simply unexpected. I think bitcoin will be growing gradually even when some technology advancing happens. Because the advancement will make the increasing user base get growing with fluctuations.

You may want to explain your point further

As to me, the dominant chain will be the one which will be used most. The miners (all 5 of them) are a far cry from being the economic majority that uses Bitcoin. So even if they have most of the hashing power but no one is going to use their coin (chain), they will be wasting their mining power in vain, as simple as that. In fact, miners are in a pretty constrained position, they may scream what they please, but economics will make them follow the users' choice. Otherwise, they will lose both their profits and investments (hail to Jihan)

Nothing you're saying makes any sense because if you believe there are "rogue miners" or a mining cartel who centrally controls the network, there's obviously no Nash equilibrium and bitcoin has no value in the first place.  One does not simply remove power from the miners without also proclaiming bitcoin a failure at the same time.  You're also claiming a centralized development team should have full control over the chain as well and that the economic incentives that are supposed to make bitcoin work don't work.

Everything can happen very quickly in bitcoin world. No one can predict the price exactly. most people just do speculation. Bitcoin is also greatly affected from the impact of existing news. The negative and positive news that governs and deals with bitcoin policies can be the greatest influence.

You may want to explain yourself

If you think that nothing of what I'm saying makes sense just because I believe that miners are rogue (they are selfish brutes, anyway), then you will have hard time defending your stance, i.e. proving your point for real (and no references to Nash, Nash equilibrium, and other buzz words will help you in that). Further, I said nothing (this is where it actually comes down to nothing) about Bitcoin centralization around developers. BIP148 proposal itself is about giving power (back) to the economic majority. I can't possibly see what that has to do with developers as such (unless they are the economic majority, of course)

I think neither of the two choices will happen after august/september implementation if changes that has been implemented was good. The price might be the same as it is now or it will just move a little bit but if the change implemented is not good, maybe there would be a dump but still I wouldn't call it a crash because bitcoin price will only retrace that time.

no one can say anything clear about the future of bitcoin. and specially after August/September, but we can expect a better change, the change will be in favour of bitcoin and it will boost the price of bitcoin more. people want to hear good news about bitcoin, they have invested huge amount of their assets, and therefore they can expect good news about bitcoin just the news when japan accept bitcoin as legal currency in their country.

It's a risk taking in my opinion. We will probably end up with two block chain that are simultaneously functional but then again, two block chain is something that you never want unless it's a last resort because it really divides bitcoin up to two parts which is hard to reconcile and bring together to something that we can call bitcoin again.

At least transaction fees will be lower probably on both chains, I don't see any chain that can have a higher transaction fee than the current one, lol. If you want to hedge against the fork, buy into some major altcoins.

Anything could happen, because most of the time what happens with bitcoin is simply unexpected and cannot be predicted exactly. This time too what we can do is just expect something​ good and rest happen based​ on the situation and other growth happening with Time.

Yeah, that would likely be the only positive outcome

If that happens for real (I mean chain split) miners will be laying themselves out to confirm transactions as fast as they can. That will likely be the only time during the last few years when we will transactions confirmed immediately as soon as they hit the network and likely even without fees. Those dudes who have gathered whole bitcoins as dust splashed over numerous wallets (and which are not spendable right now) should be happy and they should act quick to clutch at the opportunity

http://imagizer.imageshack.us/a/img924/4670/l2svpX.jpg






Mars.



Moon is for 2000 USD.

Once scaling issue has been solved, who know how high the price will go.

Yeah the only thing that the bitcoin holders can do is to hope for the better, but who knows what really will be happening. I am myself very much confuse for the situation that what will happen and if the market crashed what exactly will I do ?

Seriously have no idea. I have converted some of them to alts so that I may be secure for the time if the market crashes.

I believe it could get messy. BIP 148 supporters are risking a blockchain split and that could set a precedent for more splits in the future from disgruntled but influential Bitcoiners.

Prepare for a price crash. But be ready to pick up cheap coins.

Look like so many people will do this before 1st august.. or go into ETH which will be not an alt anymore.

I dont think a hard fork is a good solution.
It will bring much damage to the bitcoin reputation as a solid coin.
A lot of investors would turn away because they would be afraid to invest into it.
Hope things would turn out well

Who lied one year ago with things like "We promise segwit with 2mb block size"... An segwit came with no blocksize increase...
Not the miners, as far as I can remember...

No it's the miners who would split if the don't accept SegWit!
And I'm sure if Bitmain, Antpool decides to hardfork and create Jihancoin, no one is really to follow them. A totally centralized coin, by one entity who obviously tried to stall further development or influence on their own direction, with no skilled developers, just to prevent ASICBOOST?! This chain will not survive for long!
The innovation, skills, future develoment and thrive is with SegWit and Core. And SegWit will happen as we know it now. No new stupid recoding from Jeff stupid Garzik and so on will get implemented!

Yes, exactly anything can happen at that time and to be very honest we are helpless in it.
Only one thing that we need to do is to make ourselves secure and it can definitely happen if we prefer a cold storage for our coins.
Like I have already taken aside some of my coins to the cold storage so that they may not be influenced or disturbed in this whole process.

The question right now is not about developers

It is about the economic majority if you failed to notice. This is about neither miners nor developers as such. Basically, it is about those who are using Bitcoin and represented by full nodes. Indeed, you can claim that they don't represent the majority of users and most likely you will be right (to a certain extent), but if we just compare the raw numbers, i.e. the number of miners, developers, and full nodes, the latter will likely have more right to represent Bitcoin users than the former two groups

We will see any hard forks in any further. Any new coin implementation will not take out the bitcoin from the usage. Why should they are afraid to invest on bitcoin. Segwit has activated 2x and price will climb to move up for sure.
BU and segwit will not let the bitcoin value and demand in the market.

So much uncerainties at the moment. Maybe we should diversify our portofolio.
I am going for 25%BTC,  25%alts, 25%usdt and 25% back to fiat

Price fluctuations is common with bitcoin, for the same we cannot say that bitcoin is getting crashed. This is the common thinking of people who doesn't have the real understanding. Looking at the current incidents taking place with bitcoin whether the price moons or not, but the growth continues.

Interesting, quarter on all front. Think this is wise. Im still think that bitcoin and altcoin will come even higher from this point now, expecting to see some last train alt that will surprise all, still targeting safe for the moment btc eth and ltc. Price will be uncertain for the moment of implementation we are still speculation on what might be 3k 4k, what if remains as it is.

Scalability had been an issue with Bitcoin and it somehow delayed its growth and adoption, so with the implementation for possible solution on Bitcoin scaling, I think bitcoin will definitely moon.  Hype of the news will be everywhere, those who were dismayed with the long time waiting of the scalability solution will be excited again, thus creating demand from new and old users.  This means increase in price and Bitcoin mooning is a big possibility.

Nobody can accurately predict the outcome at present. What I think is in the case of a chain split there’s a big chance that bitcoin will lose its value.

25% USDt and 25% fiat indicates 50% fiat in terms of value. So it is not quarter on all fronts.  ;D
Tether is useful if you just want to book profits and expect to re-enter crypto soon. Otherwise, I don't think there is any point in holding USDt

Have to say that I am feeling extremely nervous about the whole thing. So if a split occurs, what will happen to the coins in my wallet? Do I have to move my coins to one chain, or will they be replicated on both the chains? Also, can anyone tell me whether keeping the coins in an online wallet (such as Blockchain.info) is safe or not?

If a split happens, you will have coins on both chain. then you'll have to wait if one of them dies or like in the case of ETC, both chain survives and you can spend both of them.

Just to be safe, you must keep your coins on a wallet where you have the control over the private keys before the event.

It depends on the demand but I would say a short and price drop if there is a fork followed by a steady recovery overtime exceeding the market cap of the original if the implementation is spread.
Moon in the long run and a dump at implement if it has contention.

This is a big IF really

So far it looks more like just Jihan's bluff, though it is not quite clear what his real intents are. Nevertheless, if we knew in advance that the split was really going to happen one day, it might be a wise decision to sell bitcoins altogether beforehand. How home? The split will certainly make the price of both chains crash since both camps would be massively selling out the coins of the other camp. It could be claimed that they will use the proceeds to support the price of their coin, but this won't help since ordinary people will start indiscriminately liquidating their stashes in panic for fiat or some other altcoin (Litecoin may profit handsomely due to this split)

I am very happy to see the price going back down hopefully to $500 this time just please only once let it go there for a few minutes when I'm not asleep so that I could get 20BTC and then from there you can go wherever you want.
Tattoo this on your butt chicks first chance you'll get: Bitcoin will rise no matter what! only it takes time! those selling/dumping are the future losers and those who buy/pick are the fortunate few in the future. what do you care what happens then? you just store your Bitcoins and successfully transfer them, is there anything more complicated than that and is there anything else at all?
Problem with people in this community is when they own a few coins or half a coin they think they own the whole concept, they feel entitled to make decisions and have a saying in everything related for grown ups and the people behind the scene.
You just use your coins there is nothing more to it.

$500? That would be devastating for whole crypto market

Hopefully continue mooning. This year very special for bitcoin and altcoin, they have a significant rate increase. Which means that many people have opened their eyes and minds about cryptocurrency.

It may have many problems or dropping then going up then down again but i don't think it will crash. Probably it will rise to the moon because a lot of big people are in on this btc. So there no way that btc is gonna crash. Even if it had a lot of issues, the members could probably be the one to adjust and lets just give it to the management on fixing problems. Because all multimillion projects sometimes go to some problems andthe most important is how they deal with it. To avoid a certain downfall.

first of all i assure you if price were to drop down to $500 you and people like you will never buy it! because the mentality that you use is always going to tell you there is a lower price coming, wait more. and when it reverses and goes back up you still don't buy because you start regretting why you didn't buy and there is no point in buying "overpriced" and this has been the story for years, starting when price was 10 cents!

secondly dropping below $2000 will surprise me, dropping back down to $1500 is nearly impossible, and something ridiculous like $500 will only happen if everyone leaves bitcoin because they don't want to use it anymore in which case price not only won't come back up but also it will decline more.

I can't see that bitcoins price would go down for more for 500$ and its so ridiculous to see it happen since its pretty impossible that Holders and Stakers would let it happen since first of all Bitcoins have so many adoption at this point so Maybe This certain downfall happening is little preparation of one greatest pump happen on history(Who Knows).

This doesn't mean that it is impossible

This is only your mind playing a dirty trick on you since you just can't take into account all possible developments that could bring that price about (and nobody can if that comforts you somehow), and thus you feel that it is completely impossible. Apart from that, how "Holders and Stakers" are going to not let it happen? Are they going to pour the precious dollars into a dying coin? If Litecoin takes place of Bitcoin, the latter will cost as much as the former costs right now, i.e. less than 30 dollars per coin

Even if it moons it won't be 10k. That's just an absurd number in my opinion.

It will depend on how the community reacts and there is really no way that anyone can predict that right now. What will possibly end up happening though is that there will be two "bitcoins", segwit bitcoin and bitcoin unlimited bitcoin. This will make bitcoin price predictions reduntant. I would say that Segwit BTC will have a lot more support even though BU has a lot of miners behind it. Look at the amount of nodes that signals segwit support, it's not even close right now.

I would think that the total value of the two chains combined would show an increase in market cap though, as if you hold bitcoin private keys yourself you'll get both BU and BCC.

Ofcourse nothing is impossible but we have to be realistic. A drop to 500 would mean that BTC is finished and some other altcoin will takeover.
If I think of a crash then Iam talking about a price level of 1000 to 1500.

500 dollars per coin would make any altcoin happy

Though I'm not sure it that figure will make happy many Bitcoin long term holders, especially those who bought at prices of 1,000 dollars and above that. As to me, 500 dollars won't be the end of Bitcoin as such, but it could certainly be the end of what we think of Bitcoin right now. Basically, it will just turn into yet another coin, and I don't really know whether it would be good or bad for the whole cryptomarket

I'm more convinced if bitcoin prices go up that month, well, maybe very many people buy bitcoin, because every new year, bitcoin prices will go up, although not much, but if you have 4 bitcoin, maybe that month, You're very profitable.

I can bet that you wouldn't buy any bitcoins when and if it crashes back to 500 dollars at the moment you will not want it. The reason why is that it is most probably going to crash as well even more as the market cap of ethereum and most probably ripple would surpass it. That would be disastrous for bitcoin and the newbies that are coming in now and don't care about technology would just jump in to the ones at the top.

However, it's really good that such crash is impossible at the moment and will remain impossible. There are just too many important people involved with it that they would let the price crash just like that. There are tons of bitcoin businesses like exchanges, card issuers and atms services that would survive a huge loss. Even if something horrible happens on the uasf date as the chain split, bitcoin still wouldn't go down under 1k, so if you believe in bitcoin and don't want to take a loss then just hold it long term.
It's not absurd at all, everything is possible with bitcoins. Remember when the price was 500? it mooned to 3k, thus it was 6x gain. Right now it would need only a 5x gain so it's really realistic.

If you think about it you'll see right after the mysterious meeting of miners price magically started to rise from $1200 and it went to $1450 within one day from there I couldn't see any set backs but just uprising to $3000. today price came down sharp but is going back up again.
No I can't afford to buy even if the price was lower than $2000 I can only convert alts into Bitcoin.
I just wouldn't be surprised if Bitmain forks away and create 42M coins instead of 21M and then price dumping to sub $1000 That I can afford to buy a few, but from what I can see now investors are backing Bitcoin with their teeth and blood and tears and alts are dumping like bullshit from the cow.lol

The price continues to bleed away gains from early this month and the months prior, but I am not sure if the price is going to as low as $500. Last time I saw the price at that level was way back 12 months I think, and it quickly went up again. Now that we are nearing August, seems that there's a lot of FUD coming into play. Better to just stay in the sidelines and keep watch of the things that are about to unfold.

Actually no one really can predict what to happen after that implementation, but all I know is if investors will be fearing of lossing their investments there will be a minimal crash of price and eventually it rises again to the moon. That certain situation will happen on implementations but we must stay brave, and I know blockchain network admin supports were doing their best to keep our bitcoins secured for an attempt of attack.

That means that it won't be a bad idea to convert some of my BTC to Litecoin right now. But are you sure that Litecoin is having more chances when compared to the other alts? What about Ethereum?

Seeing that the price is rising we could maybe expect an other pump ..