What is the most likely outcome on August 1st ?

[coinmore_org]

This thread is not getting enough SERIOUS coverage. So i will give it a much needed "bump".

[fabiorem]

I'm completely confused with some comments here.

I thought UASF was opposed to SegWit, and both to SegWit2x which is a big-block SegWit proposed by the miners. So I guessed it were three distinct camps.

Now how UASF "wins" if SegWit is activated instead of UASF?

And where in Bitcoin Core is the UASF option? If it is user-activated it would be in the program, right? However I'm with the latest version installed and there's not a single button to activate this soft fork.

[Neoliberalism]

If the BTC price rises will alts follow, and vice versa if it falls?

[odolvlobo]

I'm completely confused with some comments here.

I thought UASF was opposed to SegWit, and both to SegWit2x which is a big-block SegWit proposed by the miners. So I guessed it were three distinct camps.

Now how UASF "wins" if SegWit is activated instead of UASF?

You have it backwards. The intention of UASF is to coerce miners into activating Segwit.

[fullypak]

I wonder where the Tezos team is storing their mountains of BTC and ETH that are being thrown at them by the minute?   They have probably been doing cartwheels since Friday night.

I wonder what their plans for August 1st are?

non of these ICOs care about anything, even if bitcoin or ethereum fall down and burn to the ground tomorrow they won't care because they haven't really invested anything. neither money nor time.
they just copy paste some code and do little changes in smallest amount of time then invest some money in advertising it. and millions of dollars is handed to them for doing nothing!

That is called intelligent work. Without doing nothing, they are earning millions of dollars. and we are investing millions of dollars, but the returns is just a few bucks. If we want to get back our investment we have to wait for years. I think just copy and paste code will not give this much profit they also work hard for this project.

[wuvdoll]

OP - As far as litecoin is concerned I would not prefer to invest going forward. Also btc and ETH looks strong if the cypto currency prices going forward rise. Well there are many other new coins coming in market and if you do research and find better to invest in other project that will be better rather than litecoin.

It's not about litecoin concerned. We should look forward and stop thinking that other crypto currencies are better in a hard time of bitcoins. 1 August rumors were false still bitcoin is going above so don't compare other currencies and keep investing in bitcoin. And keep believe in a in our future result that we would see the bright future because of bitcoin.

[deisik]

OP - As far as litecoin is concerned I would not prefer to invest going forward. Also btc and ETH looks strong if the cypto currency prices going forward rise. Well there are many other new coins coming in market and if you do research and find better to invest in other project that will be better rather than litecoin.

It's not about litecoin concerned. We should look forward and stop thinking that other crypto currencies are better in a hard time of bitcoins. 1 August rumors were false still bitcoin is going above so don't compare other currencies and keep investing in bitcoin. And keep believe in a in our future result that we would see the bright future because of bitcoin

I guess you miss an important point here

Namely, that for the majority of people it is not so much about Bitcoin as such as it is about profits that it brings. And if other cryptocurrencies are better in this regard, you may have hard time to assert your point that "we should look forward and stop thinking" about that. Try telling that to all these dudes for which Bitcoin is no more than a vehicle for speculation. In fact, I'm curious if it is really different for you personally, that it is not actually about profits deep down the line. Aside from that, Litecoin right now seems to be the best alternative out there that promises consistent profits while Bitcoin spirals down (or just continues to stagnate)

[minime]

worst case we end up with 3 chains which would be the death of the btc as we know it or have gotten to kno it

[DoublerHunter]

worst case we end up with 3 chains which would be the death of the btc as we know it or have gotten to kno it

We will not end up with 3 chains because there were only 2 chains to exist and that is for bitcoin and also for bitcoin unlimited (the forked one). Ending with 2 chains is not a worst case scenario because just look at ethereum, even there is a hard fork and they have ethereum classic, they can still get pumps on their price and compare the price a few years ago, it is already jumped very high.

[deisik]

worst case we end up with 3 chains which would be the death of the btc as we know it or have gotten to kno it

We will not end up with 3 chains because there were only 2 chains to exist and that is for bitcoin and also for bitcoin unlimited (the forked one). Ending with 2 chains is not a worst case scenario because just look at ethereum, even there is a hard fork and they have ethereum classic, they can still get pumps on their price and compare the price a few years ago, it is already jumped very high

It may well be the worst case scenario

Especially, if the split gives birth to two equally strong blockchains. This will lead to all possible combinations of attack vectors that we might not even imagine or think of right now. The most obvious and dismal possibility would be an all-out war between these chains, but in war all bets are off, apparently. I'm sure that miners led by Jihad are already preparing the tools which will try to put to knees the competing chains (who knows what kind of creepy shit might be on their mind right now). And Core developers should expect that and thus prepare countermeasures themselves. In other words, all is fair in love and war

[Tyrantt]

worst case we end up with 3 chains which would be the death of the btc as we know it or have gotten to kno it

We will not end up with 3 chains because there were only 2 chains to exist and that is for bitcoin and also for bitcoin unlimited (the forked one). Ending with 2 chains is not a worst case scenario because just look at ethereum, even there is a hard fork and they have ethereum classic, they can still get pumps on their price and compare the price a few years ago, it is already jumped very high

It may well be the worst case scenario

Especially, if the split gives birth to two equally strong blockchains. This will lead to all possible combinations of attack vectors that we might not even imagine or think of right now. The most obvious and dismal possibility would be an all-out war between these chains, but in war all bets are off, apparently. I'm sure that miners led by Jihad are already preparing the tools which will try to put to knees the competing chains. And Core developers should expect that and thus prepare countermeasures themselves. In other words, all is fair in love and war

still interests me, if there's a split, what would happen to the bitcoin all together, what would happen with peoples balances?

[deisik]

worst case we end up with 3 chains which would be the death of the btc as we know it or have gotten to kno it

We will not end up with 3 chains because there were only 2 chains to exist and that is for bitcoin and also for bitcoin unlimited (the forked one). Ending with 2 chains is not a worst case scenario because just look at ethereum, even there is a hard fork and they have ethereum classic, they can still get pumps on their price and compare the price a few years ago, it is already jumped very high

It may well be the worst case scenario

Especially, if the split gives birth to two equally strong blockchains. This will lead to all possible combinations of attack vectors that we might not even imagine or think of right now. The most obvious and dismal possibility would be an all-out war between these chains, but in war all bets are off, apparently. I'm sure that miners led by Jihad are already preparing the tools which will try to put to knees the competing chains. And Core developers should expect that and thus prepare countermeasures themselves. In other words, all is fair in love and war

still interests me, if there's a split, what would happen to the bitcoin all together, what would happen with peoples balances?

Simply put, that might be the end

Your balances will be intact, but that would be a cold comfort if Bitcoin itself bites the dust (but as they say, a cold comfort is still better than a scolding hot truth). I've been telling it since times immemorial that Bitcoin is likely to kick the bucket due to internal problems, not some external impact (like a major government banning it or anything to that tune). There was a blog post of some fairly popular blogger which was widely cited here recently. In his blog he analyzes the possible outcomes of the showdown, and his conclusion wasn't very encouraging either. For me, Bitcoin is too risky nowadays, anyway

[buwaytress]

I guess you miss an important point here

Namely, that for the majority of people it is not so much about Bitcoin as such as it is about profits that it brings. And if other cryptocurrencies are better in this regard, you may have hard time to assert your point that "we should look forward and stop thinking" about that. Try telling that to all these dudes for which Bitcoin is no more than a vehicle for speculation. In fact, I'm curious if it is really different for you personally, that it is not actually about profits deep down the line. Aside from that, Litecoin right now seems to be the best alternative out there that promises consistent profits while Bitcoin spirals down (or just continues to stagnate)

That's the honest truth, isn't it? Most people were drawn to, and then later involved with, Bitcoin only because it's the gateway crypto. As soon as the potential for profiteering seems bigger with an alt/token/ICO, that's where the interest will migrate to, regardless if cryptography or DAG or blockchain is only a convenient mask for the venture.

Look at the ICOs of Useless Ethereum Token launched yesterday. It's drawn more than a hundred thousand dollars in a day and is already trading. Few people are in this for anything less than money.

[skyline247]

The most likely outcome on August 1st is Segwit activation. There has already been a fork all the way back in 2010 and no one even talks about it, but guess what it is that time again and hopefully we get it right this time so scaling will no longer be an issue going forward.

[SHANTA]

Presumably, nothing will leave it, I can by and by observing a huge amount of the diggers simply bowing out before something like this really experiencing in dread of what the group will state and think and what the cost will do as a result of it. Since the exact opposite thing these excavators need is to miss out on potential benefits as they attempting to "settle" the greater part of this, while I do think they'll be paying special mind to the best advantage I think they'd rather simply attempt to press out the majority of the cash that they can out of Bitcoin, as that is normally all individuals think about these days.I don't think anything will originate from it

[Krimster]

But Deisik, what happens if Jihan and his goons are not really backing up one chain, but are (tinfoil theory here) paid by their gvt masters to destroy bitcoins after they have sold most of their mined coins for a good price?

Could they potentially just attack both chains with bogus transfers and render it useless thus effectively sending the BTC value to 0? I know it sounds like a Hollywood script, but my (admitedly very limited) knowledge of the coin leads me to believe this is actually possible.

[Amph]

worst case we end up with 3 chains which would be the death of the btc as we know it or have gotten to kno it

that isn't happening, first because exchange don't care about any other chain that is not core

second because one of the chain will be an altcoin, there can't be 3 chain of bitcoin ever

worst case you get a crash in price below $2k and a recover that's it

[deisik]

But Deisik, what happens if Jihan and his goons are not really backing up one chain, but are (tinfoil theory here) paid by their gvt masters to destroy bitcoins after they have sold most of their mined coins for a good price?

Could they potentially just attack both chains with bogus transfers and render it useless thus effectively sending the BTC value to 0? I know it sounds like a Hollywood script, but my (admitedly very limited) knowledge of the coin leads me to believe this is actually possible.

This is what many people suspect Jihan in aiming at

So that is not my idea though I also feel that it might well be the case. I first read about such a possibility more than half a year ago. But even if this were the case, they seem to be a little bit too late to the party, so to speak. Right now Bitcoin is not the only pebble on the cryptobeach, metaphorically speaking. In other words, when this attack could be successfully pulled off, they hadn't had enough power, but now when they have the required power, it doesn't already make a lot of sense. And if Bitcoin does in fact get attacked this way for real, that will likely make the whole cryptonomica more resilient and robust in the future since PoW will be completely discredited and eventually wiped out since all coins will try to switch to the PoS concept of validating transactions as quick as possible

[Monnt]

If the BTC price rises will alts follow, and vice versa if it falls?

There is no way that the prices of bitcoins fall the way they rise up, because the prices start rising about one year ago. In start the prices start maximizing at very low ratio like 1$ per week and sometime 2$ per week but now its price increasing as 50$ per week. So it’s not possible to fall down the prices of bitcoins. Even if they start falling the holders have much time to sell bitcoins and get the money of higher price according to their expectation.

[Cosbycoin]

I wonder where the Tezos team is storing their mountains of BTC and ETH that are being thrown at them by the minute?   They have probably been doing cartwheels since Friday night.

I wonder what their plans for August 1st are?

non of these ICOs care about anything, even if bitcoin or ethereum fall down and burn to the ground tomorrow they won't care because they haven't really invested anything. neither money nor time.
they just copy paste some code and do little changes in smallest amount of time then invest some money in advertising it. and millions of dollars is handed to them for doing nothing!

That is called intelligent work. Without doing nothing, they are earning millions of dollars. and we are investing millions of dollars, but the returns is just a few bucks. If we want to get back our investment we have to wait for years. I think just copy and paste code will not give this much profit they also work hard for this project.

it’s not that much easy to earn bitcoins, get money and become millionaire. You have to work hard for bitcoins but as I say it’s an addiction once you get bitcoins and sell them with the price which is maximum then your expectations and make you rich faster than you think then it’s become addiction and full of addiction you must work by your talent and intelligence. Bitcoins can easily change the life style of a poor beggar if he work for bitcoins and make bitcoin earning his habit.