Has the hard fork happened?

[Jon Connor]

Sorry but Im kinda confused, and haven't really been paying much detailed attention to the technicalities of bitcoin. I know that a hard fork in the protocol can have negative effects on the price and that bitcoin has taken a hit lately from its high. Kind of thinking of selling some of my bitcoins and going into altcoins like ETH. Trying to get some advice on if this would be a good game plan until the technicalities get sorted out with the hard fork. thanks in advance!

[freedomno1]

Sorry but Im kinda confused, and haven't really been paying much detailed attention to the technicalities of bitcoin. I know that a hard fork in the protocol can have negative effects on the price and that bitcoin has taken a hit lately from its high. Kind of thinking of selling some of my bitcoins and going into altcoins like ETH. Trying to get some advice on if this would be a good game plan until the technicalities get sorted out with the hard fork. thanks in advance!

No a hard fork has not happened choosing the coins you spread into is fine if you want to hedge.

Some options
http://www.zerohedge.com/news/2017-03-19/bitcoins-fork-road
https://magnr.com/blog/bitcoin/bitcoin-fork/
https://99bitcoins.com/bitcoin-fork-segwit-vs-bitcoin-unlimited-explained-simply/

[Jon Connor]

Thank you!

[xypos]

Sorry but Im kinda confused, and haven't really been paying much detailed attention to the technicalities of bitcoin. I know that a hard fork in the protocol can have negative effects on the price and that bitcoin has taken a hit lately from its high. Kind of thinking of selling some of my bitcoins and going into altcoins like ETH. Trying to get some advice on if this would be a good game plan until the technicalities get sorted out with the hard fork. thanks in advance!

No it hasn't.

There has been speculation that a fork is going to be happening soon, but nobody knows when that is going to happen.

Just watch out for the bitcoin hash rate, when bitcoin unlimited gains around 45% of the hash rate then we might see a fork soon. Anything above 45% should be a danger zone for a fork right now.

You can also trade BTU and BCC coins pre-fork on BitFinex and HitBTC if you are interested, as futures. I don't recommend them though.

Good luck

[anonymoustroll420]

It's planned to happen at 75%. Nobody really knows though.

[ImHash]

Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.

[lionheart78]

Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.

This is quite sad, this only show who is the boss LOL.  So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin.  Funny isn't it?  This made me think what are BU fighting for?

[Miz4r]

Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.

This is quite sad, this only show who is the boss LOL.  So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin.  Funny isn't it?  This made me think what are BU fighting for?

No this is exactly how it's supposed to work. A hard fork is supposed to be really hard and requires consensus across the board. Not just miners have to agree, but it needs the consensus of everyone in the ecosystem. And I am very happy this is the case, otherwise the network would be very vulnerable to attack by a group of people who just need to convince or strong-arm the miners. And mining is quite centralized right now so such an attack would not be too hard.

[anonymoustroll420]

Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.

This is quite sad, this only show who is the boss LOL.  So it is not the miner, nor the developers but indeed the exchanges!

Nope. It's the economy.

[alyssa85]

Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.

This is quite sad, this only show who is the boss LOL.  So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin.  Funny isn't it?  This made me think what are BU fighting for?

The exchanges will simply list both coins and the users will decide which to focus on and buy.

A bit like the Ether fork, where some miners decided to mine the classic version - and the exchanges made both available, so speculators and users could decide.

It's financial democracy, where people vote with their money.

[BitHodler]

Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.

This is quite sad, this only show who is the boss LOL.  So it is not the miner, nor the developers but indeed the exchanges!

Nope. It's the economy.

More precisely said, money. Back in the days the number 1 priority was by far Bitcoin itself, but as soon as the whole eco system around Bitcoin became larger and thus financially more interesting, the greed took over Bitcoin's number 1 position.

Basically everything where people are involved in goes to waste one way or another. Greed and selfishness are what kept us in this position for so long. If this continues, and I have no reason to expect any different, then things can go real nasty in here.

[LuanX3]

Not yet and it doesn't look like we will see it anytime soon. Though, it seems like a lot of miners are moving to Bitcoin Unlimited and it is looking to overtake segwit and bitcoin due to a lot of big pools giving support to bitcoin unlimited. I do hope that bitcoin will still be the king but that for the consensus to decide.

[Torque]

Sorry but Im kinda confused, and haven't really been paying much detailed attention to the technicalities of bitcoin. I know that a hard fork in the protocol can have negative effects on the price and that bitcoin has taken a hit lately from its high. Kind of thinking of selling some of my bitcoins and going into altcoins like ETH. Trying to get some advice on if this would be a good game plan until the technicalities get sorted out with the hard fork. thanks in advance!

Concern-trolling at an ATH!

[mindrust]

Even with 51% of total hash power of the network BU miners will have to produce blocks larger than 1MB and the majority of nodes will have to validate those blocks for up to 2 weeks I imagine to successfully perform a hard fork but they won't do it why? answer is really simple, exchanges won't trade and list that second coin even if it has the majority of hash power behind it unless they show BU the green light there will be no hard fork.

This is quite sad, this only show who is the boss LOL.  So it is not the miner, nor the developers but indeed the exchanges! The consensus of the miners weighs nothing if the exchanges says otherwise. And, the way you said it, all the effort of BU will be in vain because at the end it is the exchanges who will decide what is good for Bitcoin.  Funny isn't it?  This made me think what are BU fighting for?

Varys from GoT has a quite good story for situations like that:


“In a room sit three great men, a king, a priest, and a rich man with his gold. Between them stands a sellsword, a little man of common birth and no great mind. Each of the great ones bids him slay the other two. ‘Do it,’ says the king, ‘for I am your lawful ruler.’ ‘Do it,’ says the priest, ‘for I command you in the names of the gods.’ ‘Do it,’ says the rich man, ‘and all this gold shall be yours.’ So tell me – who lives and who dies?”

The answer is, It doesn't matter what side you are on. Miners, Exchanges, Consumers, Devs...

The strongest group with power will win. If the consumer base shows a strong resistance against Core Bitcoins and brings a high demand for BU coins, there is no way that exchanges will stay alive. Someone will fullfill that demand and those exchanges who show resistance will be history.

It might work though, if the consumerbase don't give a shit and just follow the strongest coin atm...

[amacar2]

No it hasn't happened and it is becoming quite clear that there will be no hard fork of bitcoin network in near future. We may see segwit (soft fork) getting activated by end of this year (November).

[Jon Connor]

No it hasn't happened and it is becoming quite clear that there will be no hard fork of bitcoin network in near future. We may see segwit (soft fork) getting activated by end of this year (November).

This would be good news for the price since there would be no hard fork. I was thinking if the miners are able to collect high transaction fees, what motivation do they have to increase the blocksize anyway? If I was a miner I wouldn't want the blocksize to increase at all, I would just sit back and collect high fees and make more.

[Snorek]

I was thinking if the miners are able to collect high transaction fees, what motivation do they have to increase the blocksize anyway? If I was a miner I wouldn't want the blocksize to increase at all, I would just sit back and collect high fees and make more.

Miners might be hypocrites here, but they are aware that this strategy of milking bitcoin users here and now is not going to work forever.
If the situation continues people might rebel and either abandon bitcoin for altcoins stop using bitcoin for sending minor sum of money.

Ideal solution for miners would be making bitcoin better for everyone - it will lead to mass adoption->bigger userbase ->more transactions->more tx fees for miners.

[Miz4r]

No it hasn't happened and it is becoming quite clear that there will be no hard fork of bitcoin network in near future. We may see segwit (soft fork) getting activated by end of this year (November).

This would be good news for the price since there would be no hard fork. I was thinking if the miners are able to collect high transaction fees, what motivation do they have to increase the blocksize anyway? If I was a miner I wouldn't want the blocksize to increase at all, I would just sit back and collect high fees and make more.

If I was a miner I would definitely want the blocksize to increase, whether that's through SegWit or hard fork I would embrace anything. Bitcoin price would skyrocket and more users transacting means I will be able to earn even more in fees. You'd have to be pretty stupid to think that sitting at 1 MB forever is going to be better for your profits.

[Dakustaking76]

Ok as a btc hodler i read many topics about the fork
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it

[quake313]

Ok as a btc hodler i read many topics about the fork
So i want to know is the hard fork gonne happen ore is bu dead meat?
So that we Dont need to worry about it

Best answer: No one knows for sure what will happen.