Will price start tanking?

[Brad Harrison]

Since pretty much Bitcoin XT is here and it's a whole new fork, do you guys think we will see a decline in the current bitcoin price?

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[randy8777]

i think you should do a bit more research in what bitcoin xt really is, before opening a nonsense thread. then you know what i mean.

[amiryaqot]

Since pretty much Bitcoin XT is here and it's a whole new fork, do you guys think we will see a decline in the current bitcoin price?

what you asking dude BTCitcoin is far away from these things with real adoption around the globe so it can't make affect on it's price or growth, make some research about BTCitcoin and than you can know what is it in real.

[DannyHamilton]

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Bitcoin XT is . . . a whole new fork
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You are mistaken.

It is not a new fork.  It is just another wallet.  Just like MultiBit and Electrum are not new forks.

It could switch to a new fork in the future, but it hasn't yet and there is no guarantee that it ever will.

[BillyBobZorton]

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Bitcoin XT is . . . a whole new fork
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You are mistaken.

It is not a new fork.  It is just another wallet.  Just like MultiBit and Electrum are not new forks.

It could switch to a new fork in the future, but it hasn't yet and there is no guarantee that it ever will.

This, and not only this. For the fork to happen a super consensus of like 90% (correct me if im wrong) will be needed. Also, when the fork happens, you will get your Core coins into XT wallet automatically.

[Alley]

Ya I run XT and its run on top of core.  My coins are the same as any other bitcoins. 

[RodeoX]

As far as the future price... You can ask and ask all you want, but you will never get anything but guesses. No one knows the future. All you can do is delude yourself into thinking you are the exception.

[mrhelpful]

If the software is very similar with the bitcoin core.

Whats the point of having bitcoin xt? Is it like an insurance incase if the core ever failed on you? and if thats the case those odds are non existent.

[Mickeyb]

If the software is very similar with the bitcoin core.

Whats the point of having bitcoin xt? Is it like an insurance incase if the core ever failed on you? and if thats the case those odds are non existent.

Well isn't the point of the XT just a hope that the majority of bitcoin users will update towards the XT and in that way support the block size increase?

If I am right than you have a point very well explained, the point is that we get bigger blocks.

[Alley]

If the software is very similar with the bitcoin core.

Whats the point of having bitcoin xt? Is it like an insurance incase if the core ever failed on you? and if thats the case those odds are non existent.

Well isn't the point of the XT just a hope that the majority of bitcoin users will update towards the XT and in that way support the block size increase?

If I am right than you have a point very well explained, the point is that we get bigger blocks.

This is correct.  XT nodes currently at 133.  I wouldn't even give this scenario any thought until XT nodes is around 1000.  Right now it looks like there is no chance of a majority going to XT.

[HeliKopterBen]

If the software is very similar with the bitcoin core.

Whats the point of having bitcoin xt? Is it like an insurance incase if the core ever failed on you? and if thats the case those odds are non existent.

Well isn't the point of the XT just a hope that the majority of bitcoin users will update towards the XT and in that way support the block size increase?

If I am right than you have a point very well explained, the point is that we get bigger blocks.

This is correct.  XT nodes currently at 133.  I wouldn't even give this scenario any thought until XT nodes is around 1000.  Right now it looks like there is no chance of a majority going to XT.

XT v0.11 isn't even out yet, which contains the block size limit increase.  Once this is available, then nodes will start switching over.

[kwukduck]

It's  not a fork yet but soon will be.
This will be one of the most devastating events in the history of bit coin. I can see it become a much bigger disaster than the whole MtGox drama tbh.
We could be looking at a value well under $100.

[malphite]

It's  not a fork yet but soon will be.
This will be one of the most devastating events in the history of bit coin. I can see it become a much bigger disaster than the whole MtGox drama tbh.
We could be looking at a value well under $100.

Everyone keeps mentioning the fork, but is the fork can be avoided since we were working on increasing the size of the transaction right.

Or even doing this still effects the btc speed of transaction. If it drops to $100.. thats going to create crazy storm for buying...

[Mickeyb]

It's  not a fork yet but soon will be.
This will be one of the most devastating events in the history of bit coin. I can see it become a much bigger disaster than the whole MtGox drama tbh.
We could be looking at a value well under $100.

So we might end up with 2 chains at the end and a divided community, am I right? And to choose which chain we would follow and will we own "old bitcoin" or "new bitcoin xt" would just depend on which client we decide to run, a core or the xt, right?

Essentially, we will choose will we own for example 3 btc of old ord 3 btc of new, xt btc. Price tanking seems possible if this was to happen!

[HeliKopterBen]

75% hashrate is required for the change so there will be no real fork.  In other words, we will have one clearly dominant chain.  It will be a non-event and we will just start seeing >1mb blocks after Jan 1 2016.  If there is any effect on price at all, it will probably rise.

[malzahar]

75% hashrate is required for the change so there will be no real fork.  In other words, we will have one clearly dominant chain.  It will be a non-event and we will just start seeing >1mb blocks after Jan 1 2016.  If there is any effect on price at all, it will probably rise.

But by then we would have a 2 mb increase right?

Someone mentioned this about on reddit and they had a whole debate about it and I think it was anderson or someone who brought it up to avoid the madness before its too late to fix.

[HeliKopterBen]

75% hashrate is required for the change so there will be no real fork.  In other words, we will have one clearly dominant chain.  It will be a non-event and we will just start seeing >1mb blocks after Jan 1 2016.  If there is any effect on price at all, it will probably rise.

But by then we would have a 2 mb increase right?

Someone mentioned this about on reddit and they had a whole debate about it and I think it was anderson or someone who brought it up to avoid the madness before its too late to fix.

1mb limit until Jan 1 2016, then an 8mb limit after Jan 1, doubling every 2 yrs.

[Amph]

It's  not a fork yet but soon will be.
This will be one of the most devastating events in the history of bit coin. I can see it become a much bigger disaster than the whole MtGox drama tbh.
We could be looking at a value well under $100.

uhm there was already an hard fork in the past and that fork did not caused any damage to the price, actually there was a big bubble around it, i doubt the entity of this one is bigger than that because this is expected the old one was not

so no, 100 in value will not happen deal with it

[AtheistAKASaneBrain]

It's  not a fork yet but soon will be.
This will be one of the most devastating events in the history of bit coin. I can see it become a much bigger disaster than the whole MtGox drama tbh.
We could be looking at a value well under $100.

uhm there was already an hard fork in the past and that fork did not caused any damage to the price, actually there wasa  big bubble around it, i doubt the entity of this one is bigger than that because this is expected the old one was not

so no, 100 in value will not happen deal with it

Well back in the time Bitcoin was still even more primitive and less populated, now we got more people that may be prone to panic sell. In any case, hard fork can only happen if consensus is reached so who cares, it will never be a catastrophe, it will be a democratic change.

[BTCjust]

don't worry
$250 or so price will continue to the end of year