So easy to make people panic. right?

[21BTC]

Ok so due to BU the size of blocks can be increased which will result in faster transaction confirmation and eventually less price so my question is (correct me if i am wrong) What's stopping some another stupid developer to create another fork in which he increases the supply of bicoin lol and majority of the nodes start accepting that? May be then all the hodlers will be doomed?

[1715190360]

1715190360

[1715190360]

1715190360

[Cashew]

Nothing prevent another dumb guy to do another dumb secession. But it will eventually die quickly if it does not catch the attention. Problem with this Bitcoin Unlimited weed is that they managed to make their scam look legit, so they fooled big names and now you see where we are.

[21BTC]

Nothing prevent another dumb guy to do another dumb secession. But it will eventually die quickly if it does not catch the attention. Problem with this Bitcoin Unlimited weed is that they managed to make their scam look legit, so they fooled big names and now you see where we are.

Agreed. That's why i think so easy to make panic even the big names are falling for dumbs like BU. I wonder what will happen to my cold storage bitcoin if the hard fork do take place
will i be able to use them on BU or i will be using it on Bitcoin code after the chain split?

[BitcoinBarrel]

It's unbelievable all the people that think they have the magical solution to "Bitcoin" when they could easily make an alt-coin with Seg-wit, unlimited blocks, etc. Look, if Satoshi wanted the Blocksize to be 2mb he would have made it that.

Bitcoin is supposed to be a digital store of value, not some micro-transaction dust coin.

[cpfreeplz]

Anyone can fork it anytime they want assuming they get 50% of nodes on board. Whether that fork takes off or not is another story.

What's the big deal with forks anyway? Who cares? You now own two different types of bitcoins. You don't choose one and not the other. You get both.

[user27]

Well trading is full of emotions.

And when something major like this happens people will panic and sell even if it doesn't necessarily affect them at all.

Itd a good time to take your coins out of cold storage and do some trading action with it  

[Cashew]

Well trading is full of emotions.

And when something major like this happens people will panic and sell even if it doesn't necessarily affect them at all.

Itd a good time to take your coins out of cold storage and do some trading action with it  

This is the contrary, as he should greatly keep it outside of the action so that sneaky and unpredictable market movements make him lose much money.

[shield132]

It's unbelievable all the people that think they have the magical solution to "Bitcoin" when they could easily make an alt-coin with Seg-wit, unlimited blocks, etc. Look, if Satoshi wanted the Blocksize to be 2mb he would have made it that.

Bitcoin is supposed to be a digital store of value, not some micro-transaction dust coin.

At first as I know from lauda and other members, satoshi wasn't good in programming so I doubt he wouldn't be able to do things as he wished.

It seems it's really easy to make people panic and that example already showed it to us. Transactions with low fee would be good from the begining and maybe we would avoid such situation, who knows..

[Cashew]

It's unbelievable all the people that think they have the magical solution to "Bitcoin" when they could easily make an alt-coin with Seg-wit, unlimited blocks, etc. Look, if Satoshi wanted the Blocksize to be 2mb he would have made it that.

Bitcoin is supposed to be a digital store of value, not some micro-transaction dust coin.

At first as I know from lauda and other members, satoshi wasn't good in programming so I doubt he wouldn't be able to do things as he wished.

It seems it's really easy to make people panic and that example already showed it to us. Transactions with low fee would be good from the begining and maybe we would avoid such situation, who knows..

Satoshi, greatest computer engineer of all time, was not good at programming ! How stupid things people can say ! These stupid things also always come from people that does not know anything about programation by the way !

[steelboy]

i am asking again. Can someone answer?
what happens to my cold storage bitcoins after the hardfork takes place? (if it take place)
Do i get equal bitcoins on both the chains to spend twice?

As far as I am aware that is correct. You will have the same coins on both chains.

Unfortunately some people will dump on one chain immediately and some on the other. This volatility and uncertainty is likely to result in both chains combined price being less than the single chain now.

If you choose to sell one and buy the right one you will obviously do well. Vice versa too.

If you hold and ride it out who knows.

Tough times

[21BTC]

i am asking again. Can someone answer?
what happens to my cold storage bitcoins after the hardfork takes place? (if it take place)
Do i get equal bitcoins on both the chains to spend twice?

As far as I am aware that is correct. You will have the same coins on both chains.

Unfortunately some people will dump on one chain immediately and some on the other. This volatility and uncertainty is likely to result in both chains combined price being less than the single chain now.

If you choose to sell one and buy the right one you will obviously do well. Vice versa too.

If you hold and ride it out who knows.

Tough times

That's good to hear. i will hold on both chains  who knows where both goes

Edit: and how exactly i will be using bitcoin unlimited coins? will the same bitcoin address will be used for bitcoin unlimited chain with the same private key?

[PokerDiceMan]

you true much people can easy pannic selling
but i think only safe capital money is selling bitcoin balance, because down trend
if much peole selling in bitcoin balance, will make bitcoin prices declined further in, is same this now, bitcoin price down until under 1000 dollar

[Megaquake]

The BU will never happen, its not just a block size increase their is more crap added to it, if it was just a block size change then I believe it would pass.

[minero1]

When ever there is big money on the line then there will always be a panic when those have money on that line.
This case bitcoin is worth 25-30% less than it did 10 hours ago so what is your excuse to not panic?
Only if you don't have more than 20 btc then you are not even thinking of panicing.

[btcmerich]

i am asking again. Can someone answer?
what happens to my cold storage bitcoins after the hardfork takes place? (if it take place)
Do i get equal bitcoins on both the chains to spend twice?

you will get same amount on the new chain

[Iranus]

It's unbelievable all the people that think they have the magical solution to "Bitcoin" when they could easily make an alt-coin with Seg-wit, unlimited blocks, etc. Look, if Satoshi wanted the Blocksize to be 2mb he would have made it that.

Bitcoin is supposed to be a digital store of value, not some micro-transaction dust coin.

This is a strange fallacy and I think it rose from the common description of Bitcoin as "digital gold" which definitely no one described it at the start of Bitcoin's creation.

Bitcoin was always supposed to be a currency.  Satoshi would tell you that and he did, in the white paper for Bitcoin entitled "Bitcoin: A Peer To Peer Electronic Cash System".  It really couldn't get much clearer than that.

What Satoshi also wanted was for Bitcoin's code to be open source, which it is, and for necessary modifications to be made to it, which they are.  BU is not a good modification to make but if the majority of hashing power supports it that will be what rightfully changes the code and creates a new version.

[Seansky]

It is really so easy to make people panic since spreading fud makes those weak hands panic ending with a chain of dump. Even if it is, Traders make advantage of it to buy cheaper coins so I suggest everyone to get some cheap coins now because there is the probability that it will rise in price again soon after this dump finishes. For now let's buy then watch the price movements.

[Dimelord]

It's unbelievable all the people that think they have the magical solution to "Bitcoin" when they could easily make an alt-coin with Seg-wit, unlimited blocks, etc. Look, if Satoshi wanted the Blocksize to be 2mb he would have made it that.

Bitcoin is supposed to be a digital store of value, not some micro-transaction dust coin.

Yes bitcoin is digital gold and BU shouldnot be supported for just quick transactions and less fees.But bitcoin core developers must find a solution to this block size problem.But i think miners would love to continue bitcoin mining as it would be more profitable for them.

[Rude Boy]

This is kind of a chicken and egg problem.

For someone to come years later and wonder about this, the coin must be alive still. This means there must not have been any moment in its history where the vast majority of people thought there was no point mining this coin. This is the reason why there is more incentive given to early miners to support the coin, since it has not proven itself yet, and so it is seen as very risky to mine this coin and hold it.

Moreover, the percentage of coins already issued at a given moment is only a factor if you're going to be mining (note: I'm not talking about the relative holdings of different people, just the percentage of issued coins, these are very different things to consider). If you're not going to mine, but are considering buying instead, then the price/market cap is much more salient.

Additionally, whether people have profited or lost in the past should have no bearing on whether a coin is good to buy and/or mine, all other things being equal.

Note: the things I said above are what I said, and nothing more. For example, "whether people have profited or lost in the past should have no bearing..." does NOT mean that the particular circumstances in which this may have happened should not have bearing. Just make sure I an not misundedrood

[kumax]

When ever there is big money on the line then there will always be a panic when those have money on that line.
This case bitcoin is worth 25-30% less than it did 10 hours ago so what is your excuse to not panic?
Only if you don't have more than 20 btc then you are not even thinking of panicing.

I have more than that and i am still not panicing because before investing in bitcoin i made my mind that i will hold for at least 10 years and so i will.

And that's the main difference between panic sellers and senior traders.  
Set some rules and goals right in the beginning when you invest and follow them. To change your oppinion every moment - hold/sell/hold/sell - will make you only loose in the end.