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Author Topic: Bitcoin remains strong despite the fork.  (Read 1039 times)
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August 07, 2017, 07:01:05 AM
 #21

the fork that everyone was concerned about was the SegWit fork and all the drama about the BIP148 split which was a real threat in my opinion because it literary split bitcoin in two since it had little support but enough to make a split.
as we know now 100% got behind SegWit so that concern went away so price went up.

the fork you are talking about is the certain small group of people splitting off going away. I don't even like calling it a fork or a split. they just went away to their own lonely chain.
and since nobody cared about it anyways, it had no effects on bitcoin price and as you an see today, BTC is rising very well.

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August 07, 2017, 07:14:58 AM
 #22

Yeah, bitcoin just seemed to step over Bitcoincash without any issue whatsoever, I expected some kind of effect on the price but that doesn't seem to have happened.
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August 07, 2017, 07:23:23 AM
 #23

Yeah, bitcoin just seemed to step over Bitcoincash without any issue whatsoever, I expected some kind of effect on the price but that doesn't seem to have happened.

Well its too early to say that but i guess BCH wont reach the price of btc but i can see there will be a lot of miners that are willing to mine BCH. Plus i think there are still BCH out there that hasnt been dumped yet. When segwit also would lock in at least there will be a lot of ease on the transactions. I hope this would also help small traders to transact without worrying about fees.

                                     
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August 07, 2017, 09:43:22 AM
 #24

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.

That was my first thought: good riddance to the Bitcoin Unlimited camp! But then I realized that maybe BCH is just a distraction. There are plans by well-known developers, major bitcoin services, miners and exchanges to hard fork Bitcoin in November (Segwit8x). I long suspected that the BU crowd was just a loud minority. The November fork could be much more contentious.

I think that most of the Segwit camp (judging by reachable nodes, this means most users) is generally opposed to a hard fork. And that's reasonable; why hard fork directly after Segwit activation, given that Segwit will enable so much?

So this could pit a majority (or at least significant minority) of users against major bitcoin businesses and a majority of miners. That seems a lot more dangerous than this Bitcoin Cash experiment.
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August 07, 2017, 12:26:11 PM
 #25

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.


Thanks for clarifying this for me. At least now I can say that what happened  was not really the right definition of a hard fork. And maybe this is the reason why many are calling the split of Bitcoin and BCH as a soft fork. Sometimes it can be hard for an ordinary guy like me to keep up with all of these definitions and ideas.

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August 07, 2017, 01:15:43 PM
 #26

This is happening right now, bitcoin is still strong even there is a fork that happened a few days ago and it doesn't show any weaknesses for bitcoin to make its price drop and we can see that the price is now going up and that is the real proof that bitcoin remains the unstoppable coin in the market despite the fork.

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August 07, 2017, 01:52:07 PM
 #27

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

wine, exactly as you said. Although met with no fewer obstacles, but bitcoin is still the currency is 'strong'. It is still growing well and people are  use it.Bitcoin will always survive and thrive. I believe that!

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August 07, 2017, 02:05:26 PM
 #28

Bitcoin price increase and it's already over 3k usd. That means bitcoin is still the best. People still trust it as before. Yes, bitcoin still strong despite the fork!

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August 07, 2017, 02:17:51 PM
 #29

As expected by most and still few have regrets for they lost trust to bitcoins staying capacity. It will heads up higher for now on.
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August 07, 2017, 02:21:25 PM
 #30

BCH (Bitcoin Cash) existence doesn't really affect at all on bitcoins price infact I do really believe that it somehow help up to rise its price. Thinking of that those persons who have lots of BCC on their pockets sold out and going back again to Bitcoin which results for the price to increase. I might be wrong but this is what on my mind as of now. Bitcoin would really remain strong no matter what situation would come into it.



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August 07, 2017, 02:31:07 PM
 #31

BCH (Bitcoin Cash) existence doesn't really affect at all on bitcoins price infact I do really believe that it somehow help up to rise its price. Thinking of that those persons who have lots of BCC on their pockets sold out and going back again to Bitcoin which results for the price to increase. I might be wrong but this is what on my mind as of now. Bitcoin would really remain strong no matter what situation would come into it.

Of course Bitcoin cash will continue to be an Altcoin for as long as it exist and will never compare to Bitcoin in any way. I pity the doubters who were led astray but it isn't too late we will welcome them back if they want to come back.



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August 07, 2017, 02:35:58 PM
 #32

or just  try to attract old bitcoin users to jump to the Bitcoin Cash blockchain? BTC

Is this the main purpose of BCC / BCH? Sorry I do not really understand about this but he made a lot of noise panic and prejudice before the 1st of August yesterday. whether this will happen again later anybody know ?

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August 07, 2017, 03:12:36 PM
 #33

As expected by most and still few have regrets for they lost trust to bitcoins staying capacity. It will heads up higher for now on.

They only have panic tears with them now. Whenever price falls below the regular mark the main thing you should know is to hold it and not panic. People just think about short term goals but Bitcoin is for longer term.



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The Pharmacist
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August 07, 2017, 03:21:23 PM
 #34

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.
It's quite believable to me, even though the gains we're seeing are breathtaking.   This is crypto, and we could be back to $1900 tomorrow--just remember that.  That would take some serious bad news,  but anything is possible.

"Despite the fork"?  I wouldn't think that stupid forking would have much to do with the price,  and if anything it's just made bitcoin stronger. Man I wish I hadn't been so skeptical back in 2013.  Coulda made a killing.   You just never know in the wacky world of crypto.
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August 07, 2017, 07:39:59 PM
 #35

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.


Thanks for clarifying this for me. At least now I can say that what happened  was not really the right definition of a hard fork. And maybe this is the reason why many are calling the split of Bitcoin and BCH as a soft fork. Sometimes it can be hard for an ordinary guy like me to keep up with all of these definitions and ideas.

If a decent amount of Bitcoin miners actually left the Bitcoin chain to only mine on the
Bcash chain, then it would have been a "contentious hardfork", which is essentially an
attack to the Bitcoin ecosystem since it harms the security of the network and violates
Consensus. That isn't what happened, and what has occurred is closest to an altcoin.

The Bitcoin/Bcash split was neither a hardfork nor a softfork.

The best way to describe Bcash is to consider it an altcoin that used an orphaned block
as the mechanism to start their chain. If it was a hardfork or a softfork, the two chains
(Bitcoin & Bcash) would be in an actual competition with each other, where the one with
the least hash should die off within a few days or less. Bcash was designed to prevent
this competition from coming into play, yet still originates from the Bitcoin chain, so it
is like an altcoin that used a Bitcoin orphaned block as its "Altcoin Genesis".

Some would consider it a "Bilateral Hardfork", but I think with that term, it assumes that
a Community Consensus (high or majority) was reached, but there is still a minority who
will purposefully maintain the old chain. So, to appease those "old chainers", the "new
chainers" program their new clients so that things like block competition, replay attacks,
and cross chain issues don't occur. So, if Bcash will be categorized as a "Bilateral Hardfork"
type in the future somehow, I would considered it as a "Reverse Bilateral Hardfork", which
is performed with a very low or minority Consensus, so to me, a "Reverse Bilateral
Hardfork" is simply just another term for an altcoin creation mechanism.

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, 10:55:39 PM
 #36

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

Some people claims that wasn’t a real fork, and that another fork is take place by November month. So, it’s that true. Well, if it does, I still believe that Bitcoin will stay strong, no matter if there is price drop, it can easily pickup.

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August 09, 2017, 08:24:53 PM
 #37

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

Some people claims that wasn’t a real fork, and that another fork is take place by November month. So, it’s that true. Well, if it does, I still believe that Bitcoin will stay strong, no matter if there is price drop, it can easily pickup.

I appreciate your confidence, and wish everyone could remain resolute and support Bitcoin until it becomes what we all want it to become. Every fork is a fork whether soft or hard and so I give no qualms about what others are negatively saying. I'm all home and dry following Bitcoin without distraction.



BITVEST DICE
HAS BEEN RELEASED!


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Rainbot
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August 09, 2017, 10:32:03 PM
 #38

I can't believe how much the price of Bitcoin has rose in just a short time.

In 1 week it went from $2,700 to $3,450... that is $750 in just 1 week!!!
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August 09, 2017, 10:38:13 PM
 #39

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.

(reduced/edited text)

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

(reduced/edited text)

Still imposes a lot of work on enduser's side. A nightmare, maintaining two blockchains in parallel.
I'm still running below 0.14.1 release due to a lack of backup capabilities.

One or two additional forks and it's DOGE on my boilerplate!

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August 14, 2017, 09:04:36 PM
 #40

Bitcoin price increase and it's already over 3k usd. That means bitcoin is still the best. People still trust it as before. Yes, bitcoin still strong despite the fork!
Still strong, OK, but as I have noticed, mempool starts to get filled up again, it's over 50k now, and it's rising continously. At the end of July, it was nearly empty, and after the fork (from the 7th August) it rapidly grow up over 50k again. I'm wondering what it will cause to the mining fees again. I thought that after the fork the mempool will be empty more or less again, but it's not done yet.

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