I think they're doing a disservice to their people - the ban is not solving any problems for anyone.
Of course it is. It is solving the problem of malevolent scum from taking advantage on the weak. Many amateur investors have been deceived by these ICO scammers and do you expect the government not to do anything? You go too far by saying that "they're doing a disservice to the people". If you get scammed from your life savings, who do you report it to? |
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Wasn't the last news in that the SegWit2x fork wouldn't be taking place? Even through many sources aren't that objective when covering the issue I don't see how it would take place if so much support for it has already been withdrawn.
Who told you it wont? There is still a good portion in the community clamoring for replay protection in Segwit2x for the safety of the users' coins. Charlie Lee has a "NO2X" declaration in his Twitter username, and many others who are protesting the contentious hard fork. If you have news about it not going through, please post the link. |
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But there is a very likely scenario that Segwit2x will not be supported by the majority of users.
Yes, but the only scenario where Core makes a PoW change is if miners decide to stick to mining segwit2x while the rest of the community uses Bitcoin. If miners choose to not follow the users and don't switch their hashrate back to Bitcoin, then and only then would a PoW change be done. Then I believe that is where we are going. Segwit2x/btc1 might a power grab by Jeff Garzik and his group, with the backing and support of the would be Segwit2x coin's oligarchy that includes the biggest miners and the select merchants of the Silbert Accord. Sorry if anyone disagrees but that is my impression of this whole situation. |
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The 3-5 day period is available in exchange with bank transfers only. If you trade with individuals (or even services) that use PayPal, Skrill, Neteller etc. You wouldn't face any issues receiving your bitcoins instantly (PayBis, Virwox, BitPanda are an example), the fees may be high compared to whatever you are using now though.
The rates you get will not be that good either. OP, how much are you planning to buy? If the amount is under $500 then do what OmegaStarScream suggests. But if it is more than that, I believe the 3 - 5 day wait for the wire transfer to go through will be worth it. The fees are less and you buy Bitcoin at a better price in a top exchange like Bitstamp. Avoid the smaller ones. |
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My assumption in that situation is that the minority hash rate change would be vulnerable to a 51% attack by the majority, so a PoW change would be required to protect it.
Yes, it would be. However most Bitcoin Core developers aren't going to make a PoW hard fork just because the original chain has less hash rate. That would only happen if it has less hash rate and a lot of users (probably a majority of users). If the vast majority of users decided to use the 2x chain and called that Bitcoin, there won't be a PoW change done by the Core developers as most would just leave the project and stop doing Bitcoin related things. As of now, a PoW change is not even a consideration to most Core developers as the situation that would require one is one that we find highly unlikely. Listen to the question and answer for yourself: https://youtu.be/nSRoEeqYtJA?t=1h30m1sBut there is a very likely scenario that Segwit2x will not be supported by the majority of users. Remember the UASF? The community spoke and the miners followed. The NYA was only a distraction and a way for the miners to save face. If we fork to Segwit2x/btc1, I hope Core sticks around. They will be needed to fix things in 3 months' time. |
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Those miners are technically not "signalling" for Segwit2x. If you think that it is the same with signalling for BIP91/Segwit and then waiting for a number of blocks to have it locked and activated, then you are mistaken.
What the miners are really doing is making their intent known to the public by leaving a message in the blockchain. Everytime they find a block, they leave a message that they will support Segwit2x. That does not mean anything because they could leave the NYA anytime they want.
There are 2 mining pools that already left the NYA.
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Therefore, before the snapshot most Bitcoin users will be taking their coins off of exchanges and parking them in wallets where they have access to the private keys. This results in less Bitcoins on the exchanges to be sold and therefore in less downward pressure than normal. But will it not also make the traders more cautious and take the stance of "wait and see" before they make their move on the market? I believe that trading will be very stagnant right before the hard fork. If I was made to guess in what direction the market will be, it would be down. Even those that want to sell now (or in the near future) will likely be parking their Bitcoins, because the Segwit2x is effectively free money. The result will be the same amount of Bitcoin Core tokens and Segwit2x tokens. Although it is unclear as to which token may be the victorious in the fight for the rights to carry forth the Bitcoin flag, one thing is clear... both tokens will certainly not be worthless. Guessing who will be victorious in the battle is unclear anyways. Without replay protection both "tokens" will be continued to be "parked" in their wallets. I also believe some will trade some of their Bitcoins for more promising altcoins. Solid points, and I agree... I could see the market going down up until the fork too. I do not claim to be able to tell the future. My speculation is just that... speculation. I had not thought about the Bitcoins being parked for an unknown amount of time AFTER the fork if there is no replay protection. Very good insight there, that will definitely effect the market. Thanks. May I ask what your position is on the hard fork to Segwit2x/btc1? Are you for or against? Your blog post makes me think that you are for Jeff Garzik and the Silbert Accord. If you are for Segwit2x then what are your thoughts on Jeff Garzik's refusal of placing replay protection? |
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We know that part of the reason why Segwit was activated was because of the threat of the UASF. Now what can the community do to make the developers of Segwit2x/btc1 and the NYA signatories include replay protection in the new fork this November?
I cannot believe that the people in the forum are taking it very lightly. I am posting this thread in this subforum to know what can we do technically.
Maybe we can do it like what the UASF did.
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Therefore, before the snapshot most Bitcoin users will be taking their coins off of exchanges and parking them in wallets where they have access to the private keys. This results in less Bitcoins on the exchanges to be sold and therefore in less downward pressure than normal. But will it not also make the traders more cautious and take the stance of "wait and see" before they make their move on the market? I believe that trading will be very stagnant right before the hard fork. If I was made to guess in what direction the market will be, it would be down. Even those that want to sell now (or in the near future) will likely be parking their Bitcoins, because the Segwit2x is effectively free money. The result will be the same amount of Bitcoin Core tokens and Segwit2x tokens. Although it is unclear as to which token may be the victorious in the fight for the rights to carry forth the Bitcoin flag, one thing is clear... both tokens will certainly not be worthless. Guessing who will be victorious in the battle is unclear anyways. Without replay protection both "tokens" will be continued to be "parked" in their wallets. I also believe some will trade some of their Bitcoins for more promising altcoins. |
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I do not mind another hard fork. Anyone is free to split from the real chain to start and support their own like what BitcoinCash did. It was not as bad as everyone always thought.
But the would be "oligarchy" of the new chain who signed the NYA, should have the developers of Segwit2x/btc1 include replay protection for the sake of normal users like us.
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After every FUD and after all threats that came out after the Chinese "ban", I believe the Korean ban will not have as strong of an effect on the market. Plus the South Korean FSS has clearly mentioned banning ICOs as a funding model. What does that have to do with Bitcoin?
In the mean time Bitcoin is still going strong atop $4000.
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What do you refer to when you say "protocol"? Other cryptocurrencies? Because their not really a "coin" but a "network".
To answer your question, I find Monero to be the most interesting as it attempts to fix Bitcoin's problem with fungibility. As a currency, Bitcoin can be traced back to you by doing blockchain analysis. This is not a problem if you do not mind other people seeing all your transactions in the blockchain. But some of the users do mind. We need our privacy and Monero is developing something to get some of it back.
It's too bad I did not invest in it when it was $30 - $40 though. I thought it was overvalued.
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OP, you could be right if $4900 was really the peak. But what if we still have a long way to go and the real peak is much higher? Remember that we have not seen something like Bitcoin before. It's deflationary, resistant to government control and makes moving value across borders very very easy.
By the way, this thread belongs to the speculation subforum.
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I heard that many people lose their coins and the current volume of BTC is not current at all)
How do you think will Satoshi add some in future?
Not sure if you're serious. It is impossible to add the current cap of the total no. of Bitcoins, unless there was a hard fork. You should know this. But if ever there was a proposal or something, I do not think it would have enough backing from the community. The proposal would undoubtedly be ridiculed. |
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Hi, I believe one of your Hero Members has left the campaign. Can I please have his slot? Thanks.
Bitcointalk username: Wind_FURY
BTCBET.CC username: windfury
Forum rank: Hero Member
Current post count: 2077
Bitcoin wallet: 1H9vmDTX5RE4wMsnn27XTDYR49ese1Np18
thank you, we will inform you if we decide to continue it for the next week No problem. I will apply somewhere else in the meantime. Thanks. |
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Hi, I believe one of your Hero Members has left the campaign. Can I please have his slot? Thanks.
Bitcointalk username: Wind_FURY
BTCBET.CC username: windfury
Forum rank: Hero Member
Current post count: 2077
Bitcoin wallet: 1H9vmDTX5RE4wMsnn27XTDYR49ese1Np18
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OP, nothing will change. China's attempts to ban it is to show their people that they are still in control of the financial system. Bitcoin is something more than a cryptocurrency. What it represents is freedom and the people's emancipation from the traditional banking system.
I truly believe that the Chinese government sees Bitcoin as something like a national threat so they cannot allow it to gain traction.
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