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1  Alternate cryptocurrencies / Altcoin Discussion / BCH Hard Fork on: November 12, 2017, 01:04:03 AM
Wow what a volatile month for Crypto currencies. With the impending Hard Fork of BCH to address EDA issues between the mining of BTC and BCH at the moment we are seeing BCH spike big time. The issue put very simply is that the miners are jumping between chains in order to get the highest profitability, because BCH blocks are much easier to solve miners will jump over to BCH solve a heap of blocks collect reward then go back to mining BTC this creates fluctuating Hash rates in both chains. With the small block size of BTC 1Mb compared to BCH 8Mb BTC is taking a bit of a hit at the moment due to delays in the block chain mempool. The Hard Fork by BCH is intended to make the block solving more difficult so that it won't be as profitable to keep jumping from one chain to the other and stabilise hash rates to grow investor confidence.
But because of the massive increase in interest in Crypto market people are throwing money around everywhere trying to get rich quick.
I think BTC is the Store of value for all Cryptos so this is what I predict will happen. Please don't trust me on this because this all speculation and I would like to hear what others that have done research think.
I think BCH holders will after the Hard Fork or just before dump to either buy BTC as it's price has lowered, or buy into The Larger Alts like Etherium then when BTC comes down further (to what level is anybodys guess) then they will dump the Alts to buy BTC.
The Market players appear to like Forks as it opens up unknowns and causes the market to move drastically.
I think we will see a big spike in Etherium and or a major shift of market into Etherium for the long haul as mining Etherium is way more decentralised than mining BTC Due to the difference of mining machines.
In my opinion Etherium is a better platform than BTC as it learned from BTC and has already made it's corrections.
Discuss.
2  Bitcoin / Bitcoin Discussion / Re: Segwit2x cancellation discussion on: November 09, 2017, 06:40:26 AM
The miners mining bitcoin are asic mining machines they are only good for mining asic based crypto currencies. Bitcoin has hit a stumbling block pardon the pun as the block size is 1Mb, this 1Mb block size is too small to carry all the transactions so as a result there are longer delays in transactions and higher fees. There are to competing factions in Bitcoin, the Core who are the original tech team designers and then you have Miners and coin exchangers. The segwit2x Hard Fork was not designed by the original core who are purists and just want to let the thing roll with it's original design and the Ethos that it will be the Worlds Financial System when Fiat collapses. However the miners are the ones solving the blocks and providing the proof of work for rewards such as transaction fees and bitcoins. Obviously the miners will mine whatever is most profitable considering they have a massive outlay in hardware and Power consumption. The Hard Fork that was proposed segwit2x the 3rd Fork from recent times had the backing of the miners 80% from (NYA) and had the Fork taken place Bx2 Coins would have been issued for each bitcoin owned. The designers of the new bitcoin software thought that everyone would hang onto both wait and see that all the mining would have been done on the new fork and B2x would be The Bitcoin BTC. The Core designers and some in the community were not happy about this because Bitcoin currency was supposed to be decentralised however segwit2x would have showed us that this is not necessarily the case. The reason I believe it was cancelled was the potential damage it could have caused to both groups in bitcoin. I mean what are miners going to do with a heap of mining hardware if the coins weren't worth mining. So if they let it run it's course without tweaking software bitcoin will slowly grind to a halt cos it won't be worth mining so nobody will be keeping the ledger up to date and transaction fees will be so high that the bitcoin would be no good for purchasing anything.
Bitcoin was meant to be mined on regular laptops and computers so that there was no mining monopoly, but with greater technology so came large mining operations of which the system relies.
Remember bitcoin wasn't created to be a commodity it was created to be a new financial system. Segwit2x would have proved if Bitcoin was truly a financial alternative. They will still have to have a Hard Fork at some stage and soon. Imo.
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