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Author Topic: What Is Most Likely to Happen on August 1?  (Read 1724 times)
mrcash02
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July 08, 2017, 05:08:10 PM
 #1

There are much speculation about "buy more Bitcoin", "wait August 1 to accumulate more Bitcoins"...

But it's not so clear yet, what are the chances to have a split on the chain? High? Low? 50%/50%?

What is most likely to happen? (expert's opinions if possible, please).

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July 08, 2017, 06:50:54 PM
 #2

People expecting that there are fluctuations in the value of bitcoins in coming August. But, we don't know the exact information regarding on the subject. We will hope best and wait for around 20 days to watch the bitcoin situation in the market.
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July 08, 2017, 07:51:06 PM
 #3

Based on public announcements over 80% of bitcoin miners will have switched to the btc1 client (Segwit2x) and 148 will not happen. It will be interesting to see what the miners really do over the next few weeks. Since Jihan Wu supports btc1 and either owns or indirectly has control over the majority of bitcoin mining power this has to be taken seriously.

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July 08, 2017, 09:47:21 PM
 #4

Experts are saying that there's a pretty high chance for a split. Some people say that a split will move Bitcoin's value down but I don't think that's what will happen. I think post-split things will be much clearer and the decentralized Bitcoin will have more room to grow

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July 08, 2017, 10:02:53 PM
 #5

Experts are saying that there's a pretty high chance for a split. Some people say that a split will move Bitcoin's value down but I don't think that's what will happen. I think post-split things will be much clearer and the decentralized Bitcoin will have more room to grow

If over 80% of miners are running the btc1 client by August 1 there will be no split. Control of bitcoin will transfer from Core to the developers behind btc1 however. Here is a guide to the action.

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July 08, 2017, 10:05:42 PM
 #6

Experts are saying that there's a pretty high chance for a split. Some people say that a split will move Bitcoin's value down but I don't think that's what will happen. I think post-split things will be much clearer and the decentralized Bitcoin will have more room to grow
It won't bring value down more than a normal correction that we've seen many times before.
When altcoins fork people switch to a better chain and that one increases in value because confidence rises.
I think we will activate 2x and Bitcoin's value will go up rapidly, similar to Litecoin's value after segwit.

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July 08, 2017, 10:42:02 PM
 #7

Experts are saying that there's a pretty high chance for a split. Some people say that a split will move Bitcoin's value down but I don't think that's what will happen. I think post-split things will be much clearer and the decentralized Bitcoin will have more room to grow

If over 80% of miners are running the btc1 client by August 1 there will be no split. Control of bitcoin will transfer from Core to the developers behind btc1 however. Here is a guide to the action.

Wow, this situation is so confuse... Too many "Bips" and different Bitcoins. Seems it will be impossible to avoid a hard-fork, no? Because there are those Bitcoin ABC, 148 Bitcoin, NewPow Bitcoin, Legacy Bitcoin...

I think it's too early to have a prediction, maybe in 2-3 weeks we can have a more accurated prediction about it.

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July 08, 2017, 11:07:49 PM
 #8

the worst scenario is bitcoin will be split into another one and we have the same balance with bitcoin we have. i don't know what will happen with the price, if its down again too far or not and what will happen with the new bitcoin. there is many scenario that people out there made and i think its make traders in the market got panic so they are sold their bitcoin so fast without thinking because they don't want to risk their money in bitcoin.

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July 08, 2017, 11:10:32 PM
 #9

The customer is king. If enough users will be pro-active in their choice it will be the protocol miners will have to follow.

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July 08, 2017, 11:21:27 PM
 #10

Experts are saying that there's a pretty high chance for a split. Some people say that a split will move Bitcoin's value down but I don't think that's what will happen. I think post-split things will be much clearer and the decentralized Bitcoin will have more room to grow

If over 80% of miners are running the btc1 client by August 1 there will be no split. Control of bitcoin will transfer from Core to the developers behind btc1 however. Here is a guide to the action.

Wow, this situation is so confuse... Too many "Bips" and different Bitcoins. Seems it will be impossible to avoid a hard-fork, no? Because there are those Bitcoin ABC, 148 Bitcoin, NewPow Bitcoin, Legacy Bitcoin...

I think it's too early to have a prediction, maybe in 2-3 weeks we can have a more accurated prediction about it.

The Chinese bitcoin miners are in favor of the NYA. If 80% of miners start mining using btc1 before end of July we should have an orderly transfer of power. We will see how it goes on July 21 when miners are supposed to switch from Core to btc1. NYA is the carrot; Bitmain also has a stick in the form of a UAHF to wipe out any BIP148 chain. Own your own private keys and don't transact after July 31 until the dust settles.

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July 08, 2017, 11:24:38 PM
 #11

Based on public announcements over 80% of bitcoin miners will have switched to the btc1 client (Segwit2x) and 148 will not happen. It will be interesting to see what the miners really do over the next few weeks. Since Jihan Wu supports btc1 and either owns or indirectly has control over the majority of bitcoin mining power this has to be taken seriously.

This is what I heard as well. About 80% support right now for SegWit, it is very unlikely 148 will happen.
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July 08, 2017, 11:27:53 PM
 #12

There are much speculation about "buy more Bitcoin", "wait August 1 to accumulate more Bitcoins"...

But it's not so clear yet, what are the chances to have a split on the chain? High? Low? 50%/50%?

What is most likely to happen? (expert's opinions if possible, please).

Even an expert here can't tell you the accurate thing to happen. You are asking some things that is answerable by speculations. There are scenarios given on what will happen. With just a simple search about what will happen on August 1, it's enough for someone to make a possible moves.

Take the risk or believe in bitcoin - it's all up to you.

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July 08, 2017, 11:51:17 PM
 #13

nothing major about bitcoin as majority don't know what that disaster is, even with widespread, if it is wide enough won't result of ultimate drop of bitcoin price for some reason i don't understand.

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July 08, 2017, 11:51:53 PM
 #14

UASF if segwit2x will fail to activate before august it's goal is to activate segwit before UASF activates thus, minimizing chain split but its more likely the segwit2x will activate first because according coin.dance segwit2x has 80% hashrate although it intentional but it will remain until the signal date.

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July 13, 2017, 04:29:12 PM
 #15

Even an expert cannot say what will happen in the august 1st but for sure we do not need to worry about things since some say that it will just fix some of its problem especially the transactions. But I hope the splitting matter would not happen. Splitting will create many complications and it will not be good for bitcoin is the short term.

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July 14, 2017, 04:31:55 PM
 #16

People expecting that there are fluctuations in the value of bitcoins in coming August. But, we don't know the exact information regarding on the subject. We will hope best and wait for around 20 days to watch the bitcoin situation in the market.

i agree
i really dont know what to expect
but honestly im not worried at all
im just hoping i have money to bitcoin if it will really flactuate

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July 14, 2017, 05:27:48 PM
 #17

There are much speculation about "buy more Bitcoin", "wait August 1 to accumulate more Bitcoins"...

But it's not so clear yet, what are the chances to have a split on the chain? High? Low? 50%/50%?

What is most likely to happen? (expert's opinions if possible, please).

Most likely scenario is there will be no hardfork of any sorts. Both Jarzikcoin and BIP148 will get nowhere, and we'll get segwit throw other means.

But it's anything it's possible. If they fork the chain they are fucked, do not buy these fake bitcoin coins by any means.

Be ready by downloading a Bitcoin Core full node and enjoy a peace of mind while the idiots have an headache. Just keep your Bitcoin safe with a full validating node and you are going to win in he long term.

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DooMAD
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July 14, 2017, 05:39:12 PM
 #18

If over 80% of miners are running the btc1 client by August 1 there will be no split. Control of bitcoin will transfer from Core to the developers behind btc1 however.

Strictly speaking, no.  That's not accurate.  Core do not have control over Bitcoin, thus there is no transfer of control to anyone.  It would be more accurate to state that (if over 80% of miners are running the btc1 client by August 1) there would then be a change in consensus which Core can either opt to include in their product or not.  There is no change to the established power structure, as merely being a developer for what tends to be referred to as the "reference client" is not the same thing as being in control of Bitcoin.

It sounds like a small technicality, but I assure you it's a crucial distinction to make.  Often people comment about centralisation of mining whilst openly advocating centralised development to combat it.  Both are dangerous in their own way and neither should be openly embraced out of fear of the other.  Both mining and development should remain as decentralised as practicality permits.

faimloup
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July 14, 2017, 05:40:34 PM
 #19

With the uncertainty leading up to Aug 1, BTC is likely to drop in price short term due to this. Expect this uncertainty to infect the altcoin markets in general, but look at safe harbours in the top. I think ETH, LTC and XRP during this period will be good.

mindrust
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July 14, 2017, 05:43:21 PM
 #20

We'll have bitcoin with segwit activated. Low transaction fees, fast payments, you know, high tech stuff.

If the majority of the users and a considerable amount of miners support this, we'll have no problem and that will be the new bitcoin. After all those talk about scaling problems and for people who wanted a solution, now is our chance. Support the upgrade and let's make bitcoin great once again.

Market Domination >%90 incoming!
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