Bitcoin Forum

Scheduled Bitcoin SegWit2X Hard Fork comes on December 28, How will it affect bitcoin? Whether BTC price will go up or down? Today is 23rd, So,When will the market feel the heat of hardfork ? How will it affect Altcoins?

I haven't heard much about this at all since they canceled the November implementation.

Here's an article I just found about it: https://www.legalgamblingandthelaw.com/news/bitcoin-segwit2x-hard-fork-december-28/ (https://www.legalgamblingandthelaw.com/news/bitcoin-segwit2x-hard-fork-december-28/)

The name of the coin is going to be "S2X" or B2X". They plan to also give a bonus of Bitcoin along with the airdropped coins. The challenge with this one is that the transaction size is only 4mb, that's half what Bitcoin Cash is offering. So, will it be a viable competitor? I don't think so. Do we think SegWit is the answer? I don't think so. Everyone says that segregating the witness will open up opportunity for fraud.

Someone correct me if I'm wrong, but this doesn't look like its being orchestrated by the same team that was supposed to implement the original segwit2x fork before it got cancelled...Seems kind of gimmicky if this is the case. 

And this whole receiving a portion of Satoshi's btc is confusing to me.

That fork is not going to affect bitcoin, it was a fork that no one was aware of.
this is just another shitfork who is using the name of the last fork that got cancelled in order to hype it.
Dont waste time trying to search it, it is a waste of time, it will be worth less than $10 of course.

Thanks for the response HabBear,  They give airdrop coins as well? interesting. actually I am not clear this part of your statement. [Everyone says that segregating the witness will open up opportunity for fraud.]] I appreciate if you can clarify it more,
Thanks for the given link too. I am going to read it now.

Ooh, good call out, this may be true!


Hi anushkasachith888, all hard forks airdrop coins. That's the only way hard forks can survive...they need to give people coins (in equal proportion to what they own of the target coin) so they will be able to use the newly created coin. In fact, "airdrops" can only occur when there is a hard fork. People mis use the term "airdrop" when what they really mean is "income" or a "giveaway".

The SegWit principle proposes separating the transaction details (amount, addresses) from the confirmation details (that which witnesses the transaction). Separating the two means that the blockchain no longer contains the information about the amount transacted, the to and from addresses, and the confirmation in the same package of information. They want to do this to make transaction sizes smaller, which is a major problem for Bitcoin. But when they do this it's possible (in theory) that someone could hijack the transaction after the witness part has been removed and there would be know way to prove the hijack or theft...except for one person (the receiver of the transaction) yelling "thief!"

The name is B2X and i looked into it for a few hours and yes it does seem to be real but it's as if
Google is keeping news about it off the screens for now and maybe it was rushed out to stop people
dumping BTC before 28th Dec due to prices going down thanks to high transaction fees.

This "Everyone" could be everyone that runs mines and don't want to take a hit on profits
but it's becoming clear to me that nothing about BTC should be trusted and you might
like to view the link given below

https://www.youtube.com/watch?v=6V365_59-Lc

I moved my coins out of Coinbase and on to the real block just to ensure I had a stake
in this new segwic2x fork yesterday instead of having to see if Coinbase would give me access to
my free gift or not in six months time which might not be fraud but it's the next best thing.

Hmm.. Already I got to know there will be no real effect from this hardfork from somewhere too. Then we don't have to worry about the market while it gonna happen this time. Thanks for info bro...

I dont think it is teh same segwit2x hardfork which was cancelled, it could very well be a shity fork on bitcoin network.

We are not even so bothered about the fork as it's like laughing the hell out on a joke of the day as according to me, forks are nothing more than a new chocolate that's shown as a delight (free money on an x:x ratio) and given to everyone who keeps the old chocolate (Bitcoins) in the mentioned place (exchanges). It's Christmas time and I guess we are more into enjoying those delights than taking too much of it. Correction already happened, and if this one's going to heat up the markets, then I think another one is following. Price should go up considering the majority in crypto still believes in the old Bitcoin (the current one).

Forking of bitcoin have becomes a good approach for blockchain  teams to receive quick money,that  is  why there will be so  many forth coming forks.And it will also affect the value of bitcoin by adding some shoot up in price.

Wow Now only I understood the concept well. Thanks for the nice explanation. Yeah so far what i know about airdrop is , it is a free token give away after filling google forms  :D, So every hard fork is a airdrop too. Then BTC holders should be happy when there is a hard fork right?

Then Segwit principle also proposes separating transactions details in order to make smaller transaction details. Then they remove amount , sender and receiver what help thieves to can do their job.. oh..  :o :o

Yes I picked up of something about this not being the same team but it's hard to see whats propaganda and whats not and
did you notice how BTG got DDOS as soon as it stated and we can all guess who was behind that attack.

I have this wild theory that this public BTC block-chain is not owned by anyone and therefore I can take a copy and
then get the open source BTC code and put a flag in the coin to indicate it's now called the "Alt-Cen" and set up a few
servers and away I go and because I am so rich, well i can give everyone some free coins at 1:1 if they were on the
old block-chain.

Look give me $1,000,000 and i will even share half my evil new company with you and let you keep all of
Satoshi's coins only because I think his Pow and block-chain is a pile of crap and the wheels are now falling off it

while forking happens how blockchain teams receive money? as price increase people investing in ? ( Sorry I am new )

What shoots up in price and are you talking pre fork or long term because when you double the money supply it is called inflation
but reading Satoshi's white paper you would think he had it licked by limiting the supply to 21m so again
this is an area where BTC has not achieved what it said on the box.

Firefox developers all seem to say one thing but when you look deeper and see how in bed they are with
Google you start to understand the deception and dig a little bit more and you find out the google "Donate" tax free
of course $50m a year to the firefox team who are all based in India these days

The world is falling apart, greed has taken over from logic and trust

Yeah I heard same opinion from many. I guess It is almost effect less

omg no more hard forks please ! i love bitcoin core!


greez

No i checked and they do have a site and will even answer emails and the price of B2X was about
$1,000 the last time I looked so if it is a scam then it's a very good one and I seem to be very
open to suggestion on jumping ship since BTC transactions fees hit the moon but this new/old
team do seem to be offering all things to all men but if it's free at 1:1 to anyone with coins
outside the control of Coinbase by owning your own coins on the block-chain

What have I got to loose on the deal ? Nothing I say

 

The old team lost it's bottle so can we trust them anyway and this move seemed to give a green light to put the
mining fees up and if the new team is a fake then how come the old team is not screaming it from the roof tops ?

Someone is weaving a deep web here and I don't think any of us really know what is going on and was this
mr 'S' from Japan as smart as some people make out he is then what was his plan for preventing this ?
More PoW to waste electric and sell GPU's maybe when he talked about a "Trustless" interconnection of computers

Firstly, we must wait until this hard fork really took place, because before that it had already been canceled 2 times. Second, I do not forecast any serious price fluctuations due to this fork.

Everything should go up i think.

there's been so many forks i sort of stopped paying attention now. they don't seem to affect the price anymore after a cutlery draw full of forks has been dumped on the community. so i'm going to go with no market effect at all on this one.

Why doesn't these forks just correct the problems that we are all having, they should just increase the block size so that transactions can confirm earlier and so that we pay lower fees, Thats what everyone wants.

They don't appear to influence the cost any longer after a cutlery draw brimming with forks has been dumped on the group. so i will run with no market impact at all on this one.

Everyone except the current BTC miners and the bankers that own them and if you keep people thirsty by blocking the water well
then you can charge almost what you like for water if no one moves away  

Trust that was weak at best has been broken here over fees and tweaking the block size or time will buy some time but longer term
the block-chain needs throwing in the bin with all its flaws, least of which is PoW and we needed a new sleak mean machine if Joe
public arrives and they want to do micro-transactions which is kind of obvious anyway

See https://www.youtube.com/watch?v=6V365_59-Lc and learn whats on the other side of the coin

I don't give such a great meaning to forks as before. Forks are going to become a usual even and a toy in hands of speculators, so I don't expect anything new about it, price will continue it's raise and that's it.

Why do you say like that? on what basis?

Well the question is will there be a fork?

it is not confirmed at all for now, so its a speculation.

If there will be a fork and we get b2x coins, and btc and we will get segwit adoption and later LN, that would be great... but its a question if there will be such a fork on 28.12.2017

You mean nowadays forks are normal and no major effect on BTC price ?

I just looked and it's gone, no B2X on the screen and i know it was on YoBit for about $1000 yesterday

Myself I was hoping this was not all a scam but even I must admit that it's starting to look that way if
it's $400 on one exchange and $1000 on the other.

Actually What is B2X? can some one explain me it  Don't laugh at my knowledge .. ;D 8)

well, first forks were impacting very much the price of BTC (people wanted to buy more in order to have as much as possible new shiny coins), but now is becoming a joke, what should we do now? Why not another hard fork? Great idea! How should we call the new coin?
For me, it's another useless fork instead trying to solve the issues we are having now, another fork, nothing new to see..

In my observation the price of bitcoin will be low till the end of the year and also the altcoins will be low too.

I dont this it doesnt affect too much either btc or altcoin.because btc is soo much strong now and it used with many forks.and even altcoin always doesnt have a much affect with hard fork but sometimes the coin price will down for very few moments

Bitcoin is already taking a heavy hit by the bears making me doubt if the hard fork on the 28th of this month will have effect on the price. Meanwhile, for the altcoins we all know majority of them are trading pairs with Bitcoin, if the hard fork does not affect bitcoin in any way then the altcoins will not be affected too.

But some of altcoins already have climbed well huh? for instance XVG,

I think the new fork will touch altcoins mostly rather bitcoin itself. Today I have heard about new airdrops where to have a new coin you will have to have an altcoin, do not remember which one, possibly NEM. So the new fork will shake altcoin section, but bitcoin will stay the same road.

As far as I know, only a few users are supporting this fork and none of the mining pools or exchange owners are backing it. So I expect it to have minimal impact, and the new S2X coin will be most probably having an exchange rate of less than $100.

Its time to stop with all the forks n stuff. People pulling new btc forks from their ***, seriously, stop.

Ahem, and these altcoins, are essentially 'forks', mainly scamcoins - really, as time goes on, they will be lost in the sea of altcoins. Why?

Simple: with each derivative fork the new altcoin makes itself much weaker in ALL of these ways:

-less hashing power than the real Bitcoin network. Thus new scamcoin will be less secure.

-less open, global development of protocol codebase than real Bitcoin. Thus new scamcoin slow to innovate and be more vulnerable.

-less (true) independent full nodes on the network than real Bitcoin. New scamcoin more susceptible to attacks on protocol and hijacking.

-more concentration of coins to fewer individuals than the real Bitcoin network. Thus new scamcoin becomes more unfair with time.

-more geographic concentration of mining than the real Bitcoin network. Thus the new scamcoin will have more points of failure.

-more hardforks demonstrate all these points moreso with each iteration to global public. Thus new scamcoins lose value vs Bitcoin every year.

-is just another altcoin

Bitcoin is ultimate store of value and its popularity has strengthened over time and maximizes value compared to any other altcoin...why?:
If it can be shutdown, and have assets frozen by a bank or government, there would be no value
If it wasn't secure, there would be no value.
If it wasn't immutable, there would be no value.
If it wasn't globally distributed, there would be no value.
If it wasn't so strong, open-source decentralized and unstoppable, there would be no value.
If it wasn't so scarce, there would be no value.
If it was easy to spam transactions, there would be no value
If it was stopped after all major banks on Earth banned in 2013 to today, there would be no value. (say "bitcoin" when transacting and watch the block of the transaction. simple fix=never mention "bitcoin").
If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value
If its development wasn't decentralized around the world, there would be no value
If there was central "leaders" or foundation for the coin, there would be no value
If it was exactly like fiat and only did transactions, there would be no value.

Bitcoin has all the characteristics needed combined to make the most value and increasing more than any other financial-asset option coming from the manipulated fiat central-banking debt-system.


To anyone curious, this is how bitcoin has faired even with the many hundred of altcoin forks from its open source standard it set;
Chart of performance of assets from Xmas 2014 to Dec 1. 2017 (in USD terms):
Bitcoin/USD
S&P 500 Stocks
Real Estate (REITs)
Gold
Bonds

http://i63.tinypic.com/nvphuf.png


Here are weekly peer-to-peer localbitcoins cash trade data for two random countries as time goes on. Right-most area is the most recent past week.
https://s9.postimg.org/g5b8qe99r/deletepeterscreenshot.png

There is no point to speculate about December 28th because it is already here. We need the fork to create more space in the blockchain and speed up transactions and reduce fees.

As Bitcoin fee is too high and transaction are pretty slow.therefore now we can see many hard forks continuously to be happened, right ?. But still problem doesnt look solved properly . so how this situation affects the future of Bitcoin. there are more coins which are secure and fast more than BTC as i know. I would like to hear your story about my opinion...

It is difficult to give a forecast. The main growth he will show in 2018.

Does anything indicate when the snapshot was taken? If it already happened, it definitely won't do anything.

I will admit that I don't understand the technology enough to know if this is still an effort to force the Battle Royale that was supposed to happen with the original fork in some covert way.

The mass manipulation is likely just normal corrections and profit taking, but it could also be gauging a potential to gauge how hard it would be to create the flippening to something new, moving from BCH to the new coin while trying to crash Bitcoin simultaneously.

It almost seems like each side is testing the other-Bitcoin/BCH over the last few days and hold large amounts of each other's coins to try to sell and drive each other's value down. Then they buy their coins back on the cheap and the pattern reverses/value rises.

Conspiracy is way more fun than the truth!  ;D

I was going to ask the same question too because mention was made severally about "developers" making this move, which I think must be core developers, else the talk of giving out portion of Satoshi's coins wouldn't have come up.

Hi centralbanksequalsbombs , Thanks a lot for your detailed explanation. It is very useful.

I have my opinion about all this forks that is not actualy very positive. So many of them so often are needless and uselles and make nothing but confusion. And I don't beleive that fork can improve the network and cut the fees.
This one announced for the end of December will not influence the price significantly, that is my opinion. I know that many users are happy about the forks because of few so called free coins and that is their only goal but they forget what is fork actualy all about and these false coins would be soon worthless.