Bitcoin Forum

Copy pasted from reddit:

(And i totally agree!)

days and days in suspense of this hardfork. Watching ur alts bleed to death. ICO's tanking.

And now the fork is not cancelled....no.... suspended. THIS ALTBLEED BTC PUMP NEEDS TO STOP! IT just plain fn SUCKS!

China sucked, now these shit fn forks all the time. Pump and dumps. Bitcoin just went from 7900+ to 7400- In a matter of minutes!


Reddit:

So.... this was just a cash grab and a shitton of insider Trading?
Step 1: buy BTC after BTG fork at a low.
Step 2: announce contentious hard fork for "free coins"
Step 3: hold BTC and watch price skyrocket and alts bleed.
Step 4: start dumping BTC around 7k and accumulate cheap alts.
Step 5: announce cancellation of fork.
Step 6: watch alts peak and sell at +30-50% profit off alts, and get back into BTC.
Step 7: start planning the next fork.

This is a continuous trend. As long as price increases there are more fork will happen and it will be big hit or miss.

People are giving way too much weight to these forks. The forks will not destroy bitcoin. They will simply shake away the weak hands and allow bitcoin to consolidate for its next uptrend. As I have said repeatedly, bitcoin always bounces back from media fear-mongering.

Yes,it goes on and on till 1 satoshi could be exchanged for $1 !!

The amount of changes right now are detrimental to bitcoin imho.

I am an amateur in BTC and it was all very confusing when they started the split. Took me a while to get read up on that.

Yea, Bitcoin has been a test of patience and stamina.  Between China and all these forks it's been near impossible to predict day to day trends.  I use a trading bot and it's been a huge up and down ride.  I've decided to put 10% into trading and 90% into buy-n-forget into a few coins I plan to hold for years: Bitcoin, Ethereum, Litecoin, DeepOnion.

Also, people that bought Segwit2x futures just got wiped out. "you know what, we cancel the fork"

"YOU KNOW WHAT?, FUCK YOU!"

FUCK (THE CENTRALISATION OF) BITCOIN

Understandable so. But I don't think it was intentional. Probably the devs saw something important and thought it was security risk.

Are you mining or running a node?

Some people that try to do a fork are probably legitimately trying to come up with a better version of Bitcoin. Others like this Segwit fork are just trying to take control and piggyback on the success of Bitcoin.

I think that based on the 9 years of Bitcoin’s history of surviving when most people criticized and dismissed it, BTC will remain as the real Bitcoin. These forks are going to produce altcoins, but it will be hard to supplant Bitcoin as the leader. The best chance of a coin having a greater market cap is just a new altcoin that builds up a track record like Etherium.

it's a free market running free doing its best to screw as many people as possible. i'm kinda impressed it's not even more disgusting than it has been over the years and i think we're gonna discover some truly appalling things about how the exchanges have been operating when they're wiped out by bigger and better operations.

This is what i thought too :).  Mostly they knew people reaction on certain event.  Those who know the flow and ride it can easily get rich with this scheme.  Oh well nothing to do with this but ride and get the share of profit.  It would only be a waste and most will look at us a crybaby if we whine about this.  Sad but true.

You should already be used to the volatility of bitcoin and, in fact, all the crypts. I even think that taking into account the great importance of the latest news, the price of bitcoin remained fairly stable, staying in a similar range to the previous days despite the erratic behavior of a few hours ago.

I don't see how the cancellation of the fork is a bad thing for bitcoin, it shows how the dominant chain is the lasting one and therefore does nothing to harm its reputation. the price shouldn't fluctuate by much.

That is good, because futures trading is just gambling on a number and they need to be punished.
Hopefully this will put a dent on Fork betting.

The reason that alts are falling is because most of them are scams or junk.
The king of the alts, ETH keeps getting hacked. It was pumped up due to massive scam icos which are being made illegal around the world now.

It’s good that bitcoin is regaining its dominance, most of its competitors are junk.

I'd be happy if they would just put an end to this constant hard fork madness. The constant focus on this is just ridiculous.

You should know that this kind of actions in the market will never stop, dump/pump will always exist because everybody wants to make money, and those who have larger amounts of altcoins/bitcoins are always going to do whatever they want, i mean, if they want to pump a small ico, they can do it, because they probably have more funds than the whole project.
but yes, this was a little bit dissesperating, i have never expected to see that they were going to do this, oh my god, it needs to stop now, but it is impossible.

Etherium is not a good example right about now with the Parity bug causing millions to be frozen and needing a fork to unlock it.

And now that the whole thing with ethereum has been hacked, it means that everybody can be really exposed to everything and we can be easily hacked by anyone, this is very shady, but it can really happen and a lot of people are trying to do it now that they have the opportunity to do it.
Some people are becoming evil because everybody is dissesperate for money, and they are trying to do anything in order to get it by the easy way, like those dump and pumps groups.

I don't understand why these forks do impact the price so much? It doesn't really make sense.
Hopefully one day, btc price wont be affected by this high volatility which means in term more massive adoption.

This is why btc is accused to be a scam by some people without crypto knowledge. I believe now that everything is only a drama to manilpulate the price. They did not succeed with their ICO banning and exchange closing. So what they did is fake segwit.

Even some from the Bitcoin github devs belong to this manipulation scheme. #SoSad

These things are frustrating, but you just have to take it in stride, there will always be influences positive and negative in the moment.  I think sometimes we create a lot of our own anxiety, like we not only follow the news but internalize every little move and bit of news.  I read lots of articles pro and con about Segwit2x, and some of them seemed very dire and worrysome.  But Bitcoin remains resilient.

It's got to stop but nobody needs to do it. This shit brings incredible amounts of money. It will continue as long as people do not cease to believe in Bitcoin forks. Just wait.

Bitcoin is in a very unregulated state and to be honest I like it that way however things like these are going to happen in this market, the miners are going to take advantage of every opportunity they can in order to make money, it was not long ago the network was being spammed to death and that made the fees to be very high and there was a strong suspicion that was caused by the miners and now we got this, it is not right but it does not surprise me.

The only way to fight bitcoin is for central banking and fiat owned goverment like the USA is to bad mouth bitcoin....

They cannot turn off electricity or the internet now!. So the only fight they have is to disparage bitcoin's value, which unlike USD has mathematical certainty.

The handwritting is on the wall! Central banks and central governments are finished

me to, but it becomes apparent that its becoming "we r all equal but some more then others"  what are they thiinkin??? Playin with millions of others peoples money?? Thats a crime in my book.

Easy money lmao. To be fair though, this is only viable for high profile forks. I read somewhere in this forum that there has been 600+ Bitcoin forks since its conception, so lots of them just turn out to be shitcoins with no value. But yeah, Bitcoin Gold completely fits this description.

It also happened with Segwit2x but I don't think that that's its primary intention. It was meant to grab power, first and foremost, but yeah I'm sure lots of money has been made.

moreso people are aware of the turmoil that we are facing during all this uncertainty, and are taking advantage of it. observe the manipulation that went down during the China news; actors took that as a call to pump and dump. as long as this is up in the air, major actors know they can move the price without getting trapped; any major liquidation/purchase will set off alarm bells. and given how frequently people like to play with phantom orders here (those massive "walls" that make no trading sense whatsoever) to drive the sheep into low buy/overpriced sells.

I quote : See the bold statement.

The Segwit2x effort began in May with a simple purpose:  to increase the
blocksize and improve Bitcoin scalability. At the time, the Bitcoin
community was in crisis after nearly 3 years of heavy debate, and consensus
for Segwit seemed like a distant mirage with only 30% support among miners.
Segwit2x found its first success in August, as it broke the deadlock and
quickly led to Segwit’s successful activation. Since that time, the team
shifted its efforts to phase two of the project - a 2MB blocksize increase.

Our goal has always been a smooth upgrade for Bitcoin. Although we
strongly believe in the need for a larger blocksize, there is something we
believe is even more important: keeping the community together.
Unfortunately, it is clear that we have not built sufficient consensus for
a clean blocksize upgrade at this time. Continuing on the current path
could divide the community and be a setback to Bitcoin’s growth. This was
never the goal of Segwit2x.

As fees rise on the blockchain, we believe it will eventually become
obvious that on-chain capacity increases are necessary. When that happens,
we hope the community will come together and find a solution, possibly with
a blocksize increase. Until then, we are suspending our plans for the
upcoming 2MB upgrade.

We want to thank everyone that contributed constructively to Segwit2x,
whether you were in favor or against. Your efforts are what makes Bitcoin
great. Bitcoin remains the greatest form of money mankind has ever seen,
and we remain dedicated to protecting and fostering its growth worldwide.


Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik
Voorhees

This is exactly what they have done and they could have prevented that from the start or guessed that it would result in a situation where the community would be divided. We have been saying for months that SegWit2X was not needed after SegWit, but they continued with this nonsense.

You just need to wonder what the real reason is for this 360 that they have done now. ^hmmmmm^

all these altcoins and ICOs,... are getting dumped hard (bleeding) only because they are shit and have no usage. it has nothing to do with hardfork or anything else. for years they have been getting pumped and dumped and their dumps have always been like what you are seeing these days. and all these years there were no bitcoin fork!!!


you sound pretty new to bitcoin. so let me tell you that a 6.3% change is something that has always been common for bitcoin and it is not even worth talking about. when something like a 30% drop happens in an hour then we talk about it. anything below 10% is not even change. we call it normal fluctuation.

again, alts bleed because they are pump and dumps and they were all in bubbles which burst eventually!

alts had some dead cat bounces but none of them "recovered" or "peaked" that much unless they were getting pumped for the first time after months.

even if what you say is true and all the altcoins are "bleeding" because of bitcoin fork you have to worry about something that can not even exist on its own and is greatly affected by bitcoin!

It also inspired the polution of coinmarketcap with a ton of moneygrabbing useless SHITTOKENS!

*New technology completely abused to shit by immature *not giving one shit bout crypto* moneygrabbing criminals/scammers.

This space needs A LOT of cleaning up. An for all i care btc can fck of. Cause its giving a bad example.

I think the impact is because everyone wants to get free coins and nothing else.


They had cancelled the segwit2x activation. So for now we can say that it has already stop. But I'm sure that they will not pass this one as the people behind it will continue to make another try and we all know that it's gonna be so messy. I agree that we need to put a halt that is starting not to bring healthy to us.

in that regard btc is also a shitcoin, though mainly cause of high fees imo, and a pnd. Whether im new to btc or not has not much relevance. 10% of alts is here to stay and is providing or at least coming up with new technology. Most alts are not coins but trying to implementt new utilities and payments within them. There are many dedicated teams. This is the start of a new cyberspace, so ur statement isnt correct imv.

And btw its a quote from reddit, not written by me. READ. So ur statement that i *sound* new to crypto is solely based on checking my "rank"... cause the guy who wrote that is surely not new to crypto. So im wondering.... 

No it isn't because of any security reasons. The fork was suspended due to lack of support from the community. Obviously Bitcoin had the major support. So the Segwit2X decided to suspend the fork until may. Even they knew the market situation that is why they decided to suspend the fork because they know that the coin will be dumped. nobody knows what's going to happen now whether Bitcoin will increase or decrease in price.

The scenario you've written out could contain some kind of truth but I don't really think it's the case. Okay à 500 dollar swing is a lot but it really isn't a lot for bitcoin. Now that segwit2x has been canceled the market got a bit wild but I just think it was the market adapting to this extraordinary news so over the next couple of days we will be seeing which trend will be continued.
C

Cancellation of segwit 2x is really a great news for bitcoin.Already,F2Pool has withdrawn its support and segwit 2x supporters might have thought that many more pools and companies might withdraw their support.So,they just announced that they don't want the bitcoin community to split :o and so for unity of the community  :o,they have decided to cancel the segwit 2x activation.

But,its not an end to such hard forks in future.But,we would have to accept that bitcoin is strong enough to survive under any situations.

I agree on this one which this cancelation do really have some good side but as reading ops concern regarding on this one I'm sure there are lots of people do notice this kind of movement which it do repeats and repeats which movements do really have its own sole purpose why it rise up like that. I believe the only thing that make bitcoins price do tend to rise in a short period of time is when theres a news and come to think off that Fork events is one of the biggest.

They probably do not care, it is obvious that the miners are not mining because they believe in bitcoin they are in bitcoin to make money that is all, so if they see an opportunity to make a lot of money they are going to take it and since the market is not regulated they are going to take the chance after all we do not know for how long things are going to remain like this so they are doing everything they can to grab as much cash as possible before they are unable to make moves like this.