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Author Topic: Will bitcoin crash or moon after august/sept implementation  (Read 3271 times)
Capoboss
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June 08, 2017, 12:52:54 PM
 #1

Hi everybody

Heard a lot latetly about the bitcoin fork, segwit, unlimited..
Whats your thoughts on it?
Will BTC moon to 10k or will it be dump?
Please explain.
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June 08, 2017, 03:22:45 PM
 #2

Both could happen.

If a fork happens there could be two chains. One chain being dominant and the other having lower hashing power. The miners would just go to the dominant one because that is what people will use.

If another chain exists let it. Nothing we can do about it anyways, posting stuff here wont change what huge mining operations are gonna do. They literally have hundreds of millions of dollars. They could just buy bitcointalk and delete it if they thought this place had any influence over them. Or ddos it forever.

My suggestion. Transfer all of your coins to a wallet you contoll the private keys. When the fork happens you control your coins and not an exchange.



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June 08, 2017, 03:46:15 PM
 #3

They literally have hundreds of millions of dollars. They could just buy bitcointalk and delete it if they thought this place had any influence over them. Or ddos it forever.

Grin very funny! You are right as there are some moments that cannot be avoided if they happen. How to curtail the impact is what is important and that is finding a way to control your coins by yourself. Thank God for this forum that enlightened me on that, I would have been in the dark by now until the shit happens if it does eventually. I hope it doesn't though.
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June 08, 2017, 03:53:12 PM
 #4

There's no problem that could make bitcoin price crash unless there's block split but both of them have equal support from miner/community or there's big technical problem.
But, i don't see any reason bitcoin price will rise after UASF.

They literally have hundreds of millions of dollars. They could just buy bitcointalk and delete it if they thought this place had any influence over them. Or ddos it forever.

They wouldn't waste their money on that since many active users in bitcointalk are those who join signature campaign and don't really care about complicated things.

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June 08, 2017, 04:02:23 PM
 #5

There's no problem that could make bitcoin price crash unless there's block split but both of them have equal support from miner/community or there's big technical problem.
But, i don't see any reason bitcoin price will rise after UASF

It is not the UASF option itself that matters

It is what happens next after if gets activated (accepted). UASF activation would prove in practice that full nodes have power over rogue miners once again, and thus the latter can no longer hamper or otherwise hinder Bitcoin development as they have been successfully doing for the last few years. The BIP148 proposal means activation of SegWit without miners' prior consent (or even despite their resistance)

Quote
From August 1st, 2017, miners are required to signal readiness for SegWit by creating blocks with the version bit 1. This will cause all SegWit ready nodes, which make up over 80% of the network, to activate and begin enforcement. Miners must also check blocks prior to their own and ensure that they also signal for SegWit, and only build on those blocks

Basically, miners are told to pack their things and go home if they disagree (provided this proposal gets accepted, of course)

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June 08, 2017, 04:03:30 PM
 #6

Hi everybody

Heard a lot latetly about the bitcoin fork, segwit, unlimited..
Whats your thoughts on it?
Will BTC moon to 10k or will it be dump?
Please explain.

I hope good things will happen because bad things are not good for bitcoin and if bitcoin crashes then bad things are going to happen in the crypto world, and the community should be worried for this, and I think that if bitcoin price crashes and other cryptocurrencies will have a drop of their value because bitcoin affects mostly all other cryptos.

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June 08, 2017, 04:31:15 PM
 #7

Hi everybody

Heard a lot latetly about the bitcoin fork, segwit, unlimited..
Whats your thoughts on it?
Will BTC moon to 10k or will it be dump?
Please explain.

I hope good things will happen because bad things are not good for bitcoin and if bitcoin crashes then bad things are going to happen in the crypto world, and the community should be worried for this, and I think that if bitcoin price crashes and other cryptocurrencies will have a drop of their value because bitcoin affects mostly all other cryptos.

I just hoping for the best as well. We really don't know what will happen. We need to wait and see how it goes. And if it crashes, then is too bad for the crypto world, and if become accepted then we will see the price mooning. I'm a little bit nervous but I don't have a choice really. Just keeping my coins on my wallet is the best thing that I can do now.

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June 08, 2017, 07:27:45 PM
 #8

Hi everybody

Heard a lot latetly about the bitcoin fork, segwit, unlimited..
Whats your thoughts on it?
Will BTC moon to 10k or will it be dump?
Please explain.

I hope good things will happen because bad things are not good for bitcoin and if bitcoin crashes then bad things are going to happen in the crypto world, and the community should be worried for this, and I think that if bitcoin price crashes and other cryptocurrencies will have a drop of their value because bitcoin affects mostly all other cryptos.
i am also hopping so. i am sure that after August/September every thing is going to be good and will be in favour of bitcoin. so hope that after August/ September the price of bitcoin is expected to increase more and hope that this time it is going to hit 5000 USD very smoothly. people are not going to sell their bitcoin but instead they are trying to invest more money in bitcoin.
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June 09, 2017, 01:58:56 AM
 #9

Both could happen.

If a fork happens there could be two chains. One chain being dominant and the other having lower hashing power. The miners would just go to the dominant one because that is what people will use.

The dominant chain will be what the miners choose. Not the other way around.  Grin
In any case, a hard fork will lead to chaos and some investors losing their money. Not a good thing to happen.

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June 09, 2017, 05:33:42 AM
 #10

It all depends, because everything happening with bitcoin is simply unexpected. I think bitcoin will be growing gradually even when some technology advancing happens. Because the advancement will make the increasing user base get growing with fluctuations.



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June 09, 2017, 05:48:21 AM
 #11

Both could happen.

If a fork happens there could be two chains. One chain being dominant and the other having lower hashing power. The miners would just go to the dominant one because that is what people will use.

The dominant chain will be what the miners choose. Not the other way aroundGrin
In any case, a hard fork will lead to chaos and some investors losing their money. Not a good thing to happen

You may want to explain your point further

As to me, the dominant chain will be the one which will be used most. The miners (all 5 of them) are a far cry from being the economic majority that uses Bitcoin. So even if they have most of the hashing power but no one is going to use their coin (chain), they will be wasting their mining power in vain, as simple as that. In fact, miners are in a pretty constrained position, they may scream what they please, but economics will make them follow the users' choice. Otherwise, they will lose both their profits and investments (hail to Jihan)

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June 09, 2017, 06:07:55 AM
 #12

UASF activation would prove in practice that full nodes have power over rogue miners once again, and thus the latter can no longer hamper or otherwise hinder Bitcoin development as they have been successfully doing for the last few years. The BIP148 proposal means activation of SegWit without miners' prior consent (or even despite their resistance)

Basically, miners are told to pack their things and go home if they disagree (provided this proposal gets accepted, of course)

Nothing you're saying makes any sense because if you believe there are "rogue miners" or a mining cartel who centrally controls the network, there's obviously no Nash equilibrium and bitcoin has no value in the first place.  One does not simply remove power from the miners without also proclaiming bitcoin a failure at the same time.  You're also claiming a centralized development team should have full control over the chain as well and that the economic incentives that are supposed to make bitcoin work don't work.

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iqlimasyadiqa
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June 09, 2017, 06:18:59 AM
 #13

It all depends, because everything happening with bitcoin is simply unexpected. I think bitcoin will be growing gradually even when some technology advancing happens. Because the advancement will make the increasing user base get growing with fluctuations.
Everything can happen very quickly in bitcoin world. No one can predict the price exactly. most people just do speculation. Bitcoin is also greatly affected from the impact of existing news. The negative and positive news that governs and deals with bitcoin policies can be the greatest influence.

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June 09, 2017, 06:54:37 AM
 #14

UASF activation would prove in practice that full nodes have power over rogue miners once again, and thus the latter can no longer hamper or otherwise hinder Bitcoin development as they have been successfully doing for the last few years. The BIP148 proposal means activation of SegWit without miners' prior consent (or even despite their resistance)

Basically, miners are told to pack their things and go home if they disagree (provided this proposal gets accepted, of course)

Nothing you're saying makes any sense because if you believe there are "rogue miners" or a mining cartel who centrally controls the network, there's obviously no Nash equilibrium and bitcoin has no value in the first place.  One does not simply remove power from the miners without also proclaiming bitcoin a failure at the same time.  You're also claiming a centralized development team should have full control over the chain as well and that the economic incentives that are supposed to make bitcoin work don't work

You may want to explain yourself

If you think that nothing of what I'm saying makes sense just because I believe that miners are rogue (they are selfish brutes, anyway), then you will have hard time defending your stance, i.e. proving your point for real (and no references to Nash, Nash equilibrium, and other buzz words will help you in that). Further, I said nothing (this is where it actually comes down to nothing) about Bitcoin centralization around developers. BIP148 proposal itself is about giving power (back) to the economic majority. I can't possibly see what that has to do with developers as such (unless they are the economic majority, of course)

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June 09, 2017, 08:25:48 AM
 #15

I think neither of the two choices will happen after august/september implementation if changes that has been implemented was good. The price might be the same as it is now or it will just move a little bit but if the change implemented is not good, maybe there would be a dump but still I wouldn't call it a crash because bitcoin price will only retrace that time.

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June 09, 2017, 08:45:33 AM
 #16

I think neither of the two choices will happen after august/september implementation if changes that has been implemented was good. The price might be the same as it is now or it will just move a little bit but if the change implemented is not good, maybe there would be a dump but still I wouldn't call it a crash because bitcoin price will only retrace that time.
no one can say anything clear about the future of bitcoin. and specially after August/September, but we can expect a better change, the change will be in favour of bitcoin and it will boost the price of bitcoin more. people want to hear good news about bitcoin, they have invested huge amount of their assets, and therefore they can expect good news about bitcoin just the news when japan accept bitcoin as legal currency in their country.
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June 09, 2017, 10:20:31 AM
 #17

It's a risk taking in my opinion. We will probably end up with two block chain that are simultaneously functional but then again, two block chain is something that you never want unless it's a last resort because it really divides bitcoin up to two parts which is hard to reconcile and bring together to something that we can call bitcoin again.

At least transaction fees will be lower probably on both chains, I don't see any chain that can have a higher transaction fee than the current one, lol. If you want to hedge against the fork, buy into some major altcoins.


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Hero - Future Of Banking In South East Asia


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June 09, 2017, 10:48:57 AM
 #18

Anything could happen, because most of the time what happens with bitcoin is simply unexpected and cannot be predicted exactly. This time too what we can do is just expect something​ good and rest happen based​ on the situation and other growth happening with Time.

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June 09, 2017, 10:57:50 AM
 #19

At least transaction fees will be lower probably on both chains, I don't see any chain that can have a higher transaction fee than the current one, lol. If you want to hedge against the fork, buy into some major altcoins.

Yeah, that would likely be the only positive outcome

If that happens for real (I mean chain split) miners will be laying themselves out to confirm transactions as fast as they can. That will likely be the only time during the last few years when we will transactions confirmed immediately as soon as they hit the network and likely even without fees. Those dudes who have gathered whole bitcoins as dust splashed over numerous wallets (and which are not spendable right now) should be happy and they should act quick to clutch at the opportunity

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June 09, 2017, 10:58:30 AM
 #20

Quote
Will bitcoin crash or moon after august/sept implementation










Mars.



Moon is for 2000 USD.

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