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Author Topic: Bitcoin remains strong despite the fork.  (Read 1046 times)
Fourgh
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August 07, 2017, 02:01:17 AM
 #1

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC

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August 07, 2017, 02:14:05 AM
 #2

I read SegWit is going to activate Around August 23, at that point there should be more space for transactions in each block, and perhaps the mining fees come down.
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August 07, 2017, 02:24:32 AM
 #3

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
...

What occurred with the Bitcoin/Bcash fork was not a real hardfork.

For it to have been a real hardfork, a decent amount of miners/hash would
have needed to run the ABC client and chainsplit at a certain point in the
future, and thus leave the Bitcoin chain forever to join the Bcash chain only.

In reality, what occurred was just a Github copy/paste/revision fork.

So, since it was performed as an altcoin with the same origin would, as compared
to a contentious hardfork, the damages and effects on the ecosystem was lessened,
so "Bitcoin remains strong despite the fork" because the "fork" was only an altcoin
creation with a common origin, and not an outright attack on the network where the
two chains are in an actual hash/chain race competition.

When ETH chainsplit from ETC, that was a "non-contentious" hardfork.
An altcoin (Bcash) is created when your side of the chainsplit does not have majority
of the hash from the "original chain", yet still is surviving, whether by luck or design.

I support a decentralized & unregulatable ledger first, with safe scaling over time.
Request a signed message if you are associating with anyone claiming to be me.
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August 07, 2017, 02:37:50 AM
 #4

Bitcoin still needs a fork, bitcoin will still remain strong, though later there will be mining costs that will go down and there is a transaction space in every block again.
bitcoinmaniac52
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August 07, 2017, 02:40:00 AM
 #5

Bitcoin not only remains strong... it is getting stronger.

The price went up from $2,750 before August 1st to $3,350.

$600 or 20% price increase in just 1 day... it is unbelievable.



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marky89
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August 07, 2017, 02:54:33 AM
 #6

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC

I don't find current transaction fees prohibitive. In fact, there has been considerably less spam on the network since before the potential chain split on August 1st. Segwit will also give an immediate capacity increase. More importantly, it will make things like the Lightning Network tenable and will enable other future capacity increases (like Schnorr signature aggregation). I don't think Bitcoin Cash offers any innovative scaling solutions to attract much of Bitcoin's userbase away from the original network.
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August 07, 2017, 03:22:29 AM
 #7

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
the hardfork didn't do anything to bitcoin because it was a meaningless hardfork with no support. and it was also a rushed movement.
things could have been very different if it wasn't rushed, had more support and was actually fixing something!

Quote
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC
maybe you need to make a transaction before giving opinions like this. yesterday i made a transaction with 1.5 satoshi/Byte (total fee was about 800 satoshi) and my transaction was confirmed in about 20 seconds!

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August 07, 2017, 03:25:25 AM
 #8

The BitcoinCash fork was shown to be a nonissue. The original Bitcoin still continues to be on the pinnacle of cryptocurrency development, thanks to the Core developers. That is because they offer the safer and the more secure solutions on how to move the network forward.

We should be happy that the people who oppose Core has split and created BitcoinCash. They can do whatever they want in their own chain now and leave Bitcoin in peace.



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August 07, 2017, 03:26:38 AM
 #9

Reportedly the developer fix the btc wallet. But instead every time we make a transaction even longer, and more and more that it needs a confirmation.And hopefully the bitcoin cash development team can complete its work in the near future


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August 07, 2017, 04:20:15 AM
 #10

Although bitcoin transactions require slow transaction costs but developers continue to improve the convenience of bitcoin core users as investors and miners are used to using old bitcoins, even though there are now bitcoin cash but not many have used them yet.

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August 07, 2017, 04:35:50 AM
 #11

I expect a lot of problems with transactions fees and speeds will be solved over time. I was on vacation for an entire week before the split. I had bought at $2,200ish and looked today and am psyched!  Grin Grin Grin

Bitcoin is going strong and the developers are amazing. Bitcoin Cash probably isn't going anywhere.

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August 07, 2017, 04:46:04 AM
 #12

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
the hardfork didn't do anything to bitcoin because it was a meaningless hardfork with no support. and it was also a rushed movement.
things could have been very different if it wasn't rushed, had more support and was actually fixing something!

Quote
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC
maybe you need to make a transaction before giving opinions like this. yesterday i made a transaction with 1.5 satoshi/Byte (total fee was about 800 satoshi) and my transaction was confirmed in about 20 seconds!

Unfortunately I did, coins.ph wallet to coinbase, the fee was more than the amount I was to send in my coinbase account.

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August 07, 2017, 04:50:32 AM
 #13

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
...

What occurred with the Bitcoin/Bcash fork was not a real hardfork.

For it to have been a real hardfork, a decent amount of miners/hash would
have needed to run the ABC client and chainsplit at a certain point in the
future, and thus leave the Bitcoin chain forever to join the Bcash chain only.

In reality, what occurred was just a Github copy/paste/revision fork.

So, since it was performed as an altcoin with the same origin would, as compared
to a contentious hardfork, the damages and effects on the ecosystem was lessened,
so "Bitcoin remains strong despite the fork" because the "fork" was only an altcoin
creation with a common origin, and not an outright attack on the network where the
two chains are in an actual hash/chain race competition.

When ETH chainsplit from ETC, that was a "non-contentious" hardfork.
An altcoin (Bcash) is created when your side of the chainsplit does not have majority
of the hash from the "original chain", yet still is surviving, whether by luck or design.


Bitcoin is here to stay. It won't go anywhere (I hope).

Let's make a change. Change makes you better. Change makes you smarter. Change makes you healthier.
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August 07, 2017, 04:54:15 AM
 #14

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
the hardfork didn't do anything to bitcoin because it was a meaningless hardfork with no support. and it was also a rushed movement.
things could have been very different if it wasn't rushed, had more support and was actually fixing something!

Quote
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC
maybe you need to make a transaction before giving opinions like this. yesterday i made a transaction with 1.5 satoshi/Byte (total fee was about 800 satoshi) and my transaction was confirmed in about 20 seconds!

Unfortunately I did, coins.ph wallet to coinbase, the fee was more than the amount I was to send in my coinbase account.

the normal amount of fee that wallets should suggest now (and many of them do) is about 100 satoshi per bytes. this means a normal bitcoin transaction should have about 0.00022600BTC fee (22,600 sat). if you paid too much fee it is either because your transaction was huge (had a lot of inputs) or your wallet is giving you a bad fee/byte suggestion.

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August 07, 2017, 04:54:39 AM
 #15

The hype was created for the hard fork was just to shift the old bitcoin users to BCC/BCH but it doesn't happened. Majority of the users are still using old bitcoin and they don't care of the split. After fork bitcoin becomes more strong and the rising price of bitcoin is the proof of it.
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August 07, 2017, 05:13:37 AM
 #16

Bitcoin just hit an ATH this weekend - so it clearly is still strong. But BCH has also accumulated a nice percentage of the market, and right now is rising more than any of the other top20 coins. Once the dust settles and we have clear average times for blocks on both chains we'll see if BTC can remain at the top, or if BCH will outpace and outgrow it in the future.

As for the fee, yea... bitcoin transactions are kinda expensive right now - but you can pay a smaller fee and wait a bit more time for your transaction to be confirmed, if that suits you better.
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August 07, 2017, 05:39:22 AM
 #17

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC

See the transaction fee has already got reduced and now its almost the normal fee which we paid earlier for transactions.Thats one of the reason for increase in price as the main issue of high transaction fee has almost been solved.But price increase is a little bit late due to the fear of hard fork.Bitcoin once again remains unbeatable.

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August 07, 2017, 05:45:49 AM
 #18

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC


Of course the Bitcoin was always going to be high fork or no fork. And even before the fork was over it was obvious that the price was going to rise, ya about the fees it's bit concerning that nothing is being done. I feel something should be done, and it's strange the miners are happy to let go of this pressing issue. Let's hope sooner or later they sort it out.

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joromz1226
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August 07, 2017, 06:44:54 AM
 #19

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC

Indeed, due to most of the bitcoin community gave their 100% support into unto it. That's why bitcoin all of a sudden increased after
 august 1st has been done. This shows only that many of the users really loved bitcoin Wink

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    Fight Scams and Get Rewards!
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TheKeyLongThumbI
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August 07, 2017, 06:51:29 AM
 #20

Bitcoin price still remains strong and has grown significantly throughout the weekend despite the hard fork.
Though coin transaction fee's from local to international wallets are still at high. Many investors, miners and developers are still using the old Bitcoin. Will developers fix the ever slowing and expensive transaction fee's from the old blockchain or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC

Indeed, due to most of the bitcoin community gave their 100% support into unto it. That's why bitcoin all of a sudden increased after
 august 1st has been done. This shows only that many of the users really loved bitcoin Wink

Looks like bitcoin shows that the harder it gets , the more it resist. It's not going down no matter what they do. They are all just propaganda trying to bring us all down. Just keep on holding guys. Bitcoin is LIFE.

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