...so my question and what concerns me, is who would manage this change? who would organize the change between sha256 and the new secure hash algortihm?
anybody with programming knowledge who is also familiar with bitcoin protocol can do it. it doesn't matter what language either but you would prefer doing it on top of already used applications such as bitcoin core, so C++. you change the code, make a proposal and if enough of the network follow that proposed change, then the hashing algorithm used by bitcoin would change. that is how decentralized network works. based on consensus
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[snip]
fear is not always a bad thing, it makes you stand on your toes and think more about all possibilities. and when we are talking about a brand new technology that is decentralized and goes against a big centralized world with a lot of power, it is good to have some fear. but as long as that fear leads into thinking more and analyzing things not an irrational fear. there should always be a balance in life, not fear to stay away and not lack of it to jump in anything you see in crypto world with eyes closed.
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A group wants to change the protocol, the other doesn’t want to. Since the BCH network isn’t owned by anyone, any group of people with enough hash power can “fork” the network and coexist with the previous chain.
No one can say what will be the price.
Thank you for your explanation. "A group" here means people runs BCH nodes and mines BCH? basically a fork is a change of rules in a cryptocurrency system. so the other reason that you asked above about forking BCH is to change consensus rules. now to do that you need the network to accept the change and upgrade to the new software that implements that change. the network consists of miners (providing hashing power) and nodes (the backbones of the network enforcing the rules) so you need them to upgrade. such changes however will require a high amount of support. so a "group" in this context can not be a couple of miners who have 1% of the total hashrate. which is also why "bitcoin" defines these hashrate support thresholds for each fork (>95%).
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these days youtube is also filled with a lot of spammers. you think the signature spammers on bitcointalk are bad, wait until you see some of these videos from people who have no clue what they are talking about. this one seems like the best of the to be honest i used to tell people who wanted to know about bitcoin to watch some youtube videos but now i no longer make such suggestions. unless i can give them direct link to Andreas Antanopolis videos since that is the only person worth watching.
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i am always surprised about how you guys come up with these speculations!!! it is the early 2018 all over again when you were speculating price to drop to $3000 just because it was going down and wasn't able to break the $10k resistance at that time!!!
we just had a little drop here. it is not a reason to go down 50% and with a total of 85% drop overall just because you feel some panic...
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you are assuming that bitcoin is such a weak thing that one dude can make it "implode" just by spreading some bullshit online?! i don't think so. he may have built up quite a publicity for himself in the past year but majority of people are not idiots to fall for the bullshit that he is spreading around the internet. they see right through him.
don't confuse the drop that we had with "implosion" or anything like that for bitcoin. it is just the same people who know better taking the opportunity by the balls and squeezing it hard so that they can buy more bitcoins.
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you have a very interesting theory but i have to say no, because this recent drop had a very clear reason so there can't be any other one for it. the reason was the BCH fork FUD that took bitcoin by the storm and manipulators had their fun with the price.
also so far as i can remember bitcoin has never had any relationship with stock market although a couple of times it went against it meaning when stocks crashed bitcoin soared up.
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actually whenever you see trolls "bullshitting" on forums that means that the attack or whatever you want to call it has already ended and these people are getting anxious because their buy orders never filled. the buy orders that they set because they sold too late and need to low bid to make profit.
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it has always been like this when it comes to newer technologies. even something as simple as smart phones is being adopted by younger generation compared to the older ones. i believe this is partly because of their interest in newer technologies but it is mostly because the older generations are already used to their own ways and are defiant of any kind of change so they always resist adopting new technologies.
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wow i never realized that BCH is also changing! i only thought that they are forking the SV thing as a new protocol but with a little search it seems like they are also changing BCH. so technically speaking they can end up with 3 new chains for 3 different coins! 1. the old BCH 2. the new BCH with new rules 3. the SV fork of course i doubt that #1 is going to exist but i am only mentioning possibilities. ps. SV is increasing block size to 128 MB PS 2. Is there an option to put the image in a spoiler ? So its not huge and only appears when people click the spoiler.
sadly this forum doesn't have any option for spoilers
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for this topic to become useful you may have to also explain why you have less! for example was it the Mt Gox scam that made you lose your bitcoin or was it other mistakes? also i am curious whether "having less" means something like you had 100 BTC and not have 99 BTC or something like you had 2 and now have 0.1
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when it comes to speculation sometimes you have to see what majority of people think will happen. it may sound weird but that is what drives the market most of the times!
for example in this case BitcoinSV is such an irrelevant fork that people weren't paying attention to it that much except for the BCH communities for obvious reasons. which makes believe that no matter what mess they create for themselves it won't affect bitcoin. and lets not forget that almost all of BCH hashrate is controlled by the same people and they won't let it go anywhere else.
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i think this is happening everywhere else in the world too and this is mainly because of the last year's price rise which was basically a 20x rise in one year which is extraordinary for anything! and obviously that attracts a lot of attention from people. now add to that the fact that the media has been constantly talking about bitcoin last year and most of this year due to the big rise and then fall, and you can see how the "interest" grows among citizens.
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Don't be too affected by the news, you will feel confused yourself. Bitcoin is an inanimate object and it is impossible to commit fraud by itself. What needs to be dealt with is someone who uses bitcoin for fraud. It's only a matter of time to become a legal payment instrument. A very useful advice, i appreciate your advice.I learned a lesson from your opinion, I noticed that I was so preoccupied and worried about Bitcoin's bad news. I do not understand the nature of FUD of this market. As a newcomer to the forum, thank you for your useful comments this market is still pretty small and as you may have noticed it is filled with a lot of newbies with little to no understanding of any market but a willingness to trade! that means they are always affected the most by emotions and the experienced whales always take advantage of that by using Fear Uncertainty and Doubt. they spread it and cause newbies aka weak hands to act irrationally in the market and help them make more money.
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this silly speculation has bee circling around the internet for a while now. it is nothing new for some newbies to think that halving is the only reason for price rise and look back at the charts and only see what they want to see instead of seeing the reality which is the fact that rises have never taken that long except once in history!
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... Naaah. An increase is probable for a short time though not as many would prefer. Etf doesn't really do anything sognificant to btc. An approval or denial would spike up speculations that would move the price but only on a temporary basis.
i would have agreed with you a couple of months ago as the market was not ready for a rise yet and we still had the stability phase ahead of us. but now we are nearly done with that phase and the market is starting to get ready for the rise. long story short WITHOUT ETF, price will rise soon. WITH ETF, that rise will happen faster.
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i believe the correct term that this website should have used is "ICO" not "Airdrop" because what Chine has banned is the Initial Coin Offering which is not really an airdrop! there is no reason to call them as airdrops.
this ban is not just about these ICOs being scams but it is mainly because there are no companies behind any of them and there is no reason for them to raise funds. so they are actually getting money for nothing and scamming people.
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Experts predict $20,000 for bitcoin in the 2019. When will Bitcoin reach this point in your opinion?
Hey who are these so called experts if possible name them let us judge for ourselves if they're really experts. I'll give you a simple advise remember there're no experts in cryptos, especially the ones making outlandish claims without backing them up. It's time you become realistic as no one really knows what the prices will be in 2019, the only question that matters is will people adopt it, will there be another Fomo event which will inturn increase the prices. I am hoping for the best in 2019, but it's to soon to say that 20k mark will be breached in the coming year. there are experts as there are also newbies. it is true that you can never predict bitcoin price but you can make an educated guess/speculation about its price and as an expert you should be able to have a high accuracy rate. but what we have online as "experts" is most of the times some idiots pretending and sometimes we have actual experts but they are not giving advice, they are actually trying to make money.
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i don't really think someone who is actually in bitcoin for quick gains is going to come here and claim that all he cares about is the quick money he may earn from bitcoin. usually people never reveal their true intentions and i think a large number of those who are on bitcointalk are in bitcoin for the money which is obvious from signature campaign participants and their comments elsewhere.
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as a beginner what i wanted to learn about (and i think every beginner is the same) is how to use bitcoin, how to use a wallet, and basic things like that. as i got past that there is not much else to learn about bitcoin. right now i am more interested in technical (advanced) aspects of bitcoin. such as the cryptography used in bitcoin (Elliptic Curve).
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