How are you hedging the upcoming Segwit2x fork?

[dolan564]

i always hedge a certain % for anything to mitigate risk. Especially for forks, it can't hurt to slightly minimize profits in the event things go south.

[1715061656]

1715061656

[1715061656]

1715061656

[1715061656]

1715061656

[1715061656]

1715061656

[Suqreme]

just going to ride it out and hope it restabilizes

[babsjoe]

I think it is too early to start worrying about November folk! One advice i have though is to stay through to what you believes are about bitcoin. I believe bitcoin should be free of any inteference, it should be autonomous and completely decentralized

[wxa7115]

First of all there is not going to be a legacy BTC, it is simple BTC, the original chain that is all, segwit2x is just another altcoin that is all, and if they decide to make that suicide move then I will enjoy the free coins that I will get and sell them no need to do anything else.

You know the drill, dump the segwit2xcoin when the opportunity presents itself. This shit can't win, if it does im quitting bitcoin. If bitcoin can be coerced by bribing miners and exchangers with fiat money what's the fucking point? it's over. I guess I would just stick around in case someone comes up with a true bitcoin killer that can't resist vector attacks such as segwit2x and any other hardforks of similar nature. I would need a strong bitcoin to buy that tho, so lets hope the price doesn't go to hell.

I think segwit2x will end up like BCash. If bitcoin's immune system is strong it should get rid of it.

Hard to see in as just another altcoin. Currently, the New York Agreement (Segwit2x) has 95% support among the hashing power:

https://blockchain.info/charts/nya-support

I think day one BCH had only something like 2% of hashing power.

2x will be the clear winner for miners and many exchanges. I don't know what can really be done or what else to say, but we are definitely headed for another fork. Cryptos are here to stay, so if we don't want this, then we need to find another coin to support and hedge.

That 95% is not correct, the F2Pool withdrew from the NYA some weeks ago, they are still signaling support for segwit2x since they need to restart their servers, or at least that is what they said, and since they control something close to 20% of the hash rate that immediately puts that 95% to 75% if another big pool comes out of the agreement then situation is not as clear as you make it seem.

[g4r1n1m]

What is this? why it is neccesary??
in 20 years there will be 20 forks ? or what?

[Samarkand]

...

Also, something that hasn't been touched on - a lot of Japanese miners are going to come onstream starting in October and no-one knows what they think about segwit2x at all, so the uncertainty is huge.

I highly doubt they will start mining as soon as October. These are big companies where
projects like this take a lot of preparation and they haven´t even started to develop
their 7nm ASICs. The development of these ASICs will take many months and
setting up warehouses with all the hardware is also a strenuous process.

I´d argue that they probably won´t enter the mining scene until at least
late 2018 or early 2019. 

 

[Raxitto]

BTG has nothing to do with another probable coin that will also come up in November, on 23rd, Bitcoin 2X, which will be the result of the hard fork occasioned by the SegWit2X developers. Bitcoin Gold intends to completely change the mining algorithm that currently exists in Bitcoin. The idea is to exit the SHA256 algorithm, which requires ASIC supercomputers to be processed, for Equihash, which will require GPU-type computers.
With this, BTG proponents believe that it will be possible to keep the mining process more decentralized. That is, the verification and validation of the transactions in the network can be done by less sophisticated processors and, consequently, by more technology users. The original Bitcoin mining is currently dominated by large mining companies because of the scale required to perform this type of activity and is about 80% concentrated in the hands of Chinese entrepreneurs.

[fragout]

Bitcoin Gold intends to completely change the mining algorithm that currently exists in Bitcoin. The idea is to exit the SHA256 algorithm, which requires ASIC supercomputers to be processed, for Equihash, which will require GPU-type computers.
With this, BTG proponents believe that it will be possible to keep the mining process more decentralized. That is, the verification and validation of the transactions in the network can be done by less sophisticated processors and, consequently, by more technology users. The original Bitcoin mining is currently dominated by large mining companies because of the scale required to perform this type of activity and is about 80% concentrated in the hands of Chinese entrepreneurs.

Didnt Litecoin do that a looong time ago. Forked bitcoin and used scrypt. Why are BTG making a big deal about this new coin as if it is the lightbulb answer to the chinese miner dominance.

[wxa7115]

What is this? why it is neccesary??
in 20 years there will be 20 forks ? or what?

You do not understand, anyone can create their own fork that is the thing with open source projects, anyone can take that code and change it and try to create something new, that is what happens with Linux and all its variants, however a coin more than anything needs the support of the people so as long as people keep supporting bitcoin then those other coins have no future.

[Board-Room]

In terms of timing, at the current rate it looks the hard fork will be sometime mid/end-November; it's at block number 494,784.

More info in this article, for example:
https://www.coindesk.com/block-494784-segwit2x-developers-set-date-bitcoin-hard-fork/

[Minecache]

Now I'm out of altcoins. Only 15% btc and 85% teether USD. I'm planing to buy btc just before 25 October and make good profit 

[Board-Room]

Now I'm out of altcoins. Only 15% btc and 85% teether USD. I'm planing to buy btc just before 25 October and make good profit 

I'd be a bit careful about keeping too many eggs in one basket, in this case tether, especially during a time when we can expect increased volatility. See this thread for example:

https://bitcointalk.org/index.php?topic=2221521.new#new

[greenclub09]

I think it's going to be like bitcoin cash. The king is still the bitcoin king, it will show its worth. After segwit2x, it is likely that bitcoin will be worth more than now. In the near future there will be a strong surge as most users will store bitcoins to receive new bitcoins. We should not worry anymore because the pre-release of a new bitcoin bit does not affect the bitcoin even it increases the bitcoin price so this is also the same. 

[hgmichna]

By having sold bitcoins for gold and fiat.

As soon as it becomes clear that Segwit2x will do no major harm and the future looks bright again, I will buy back.

Segwit2x bears the risk of a major disruption of the bitcoin economy. See how much damage b.cash has done and how much worse it could have been with just a little bit of more bad luck. Segwit2x is much more dangerous.

Of course there is also a good probability that bitcoin keeps a reasonably high hash rate and that users stay with bitcoin and shun Segwit2x. But even then there is the missing replay protection and possible attacks against bitcoin.

Just today Segwit2x inserted code into their client that camouflages it to make it look like a bitcoin client, with the intention to break down certain bitcoin defenses against the hard fork. And this could be just the beginning of damaging behavior, for example to increase the damage done by replay attacks.

I cannot take that risk and fortunately I don't have to, so I am bailing out. I would much prefer a continuously prospering bitcoin economy, but apparently that is not always easy to achieve.

[ChromaticStar]

By having sold bitcoins for gold and fiat.

As soon as it becomes clear that Segwit2x will do no major harm and the future looks bright again, I will buy back.

Segwit2x bears the risk of a major disruption of the bitcoin economy. See how much damage b.cash has done and how much worse it could have been with just a little bit of more bad luck. Segwit2x is much more dangerous.

Of course there is also a good probability that bitcoin keeps a reasonably high hash rate and that users stay with bitcoin and shun Segwit2x. But even then there is the missing replay protection and possible attacks against bitcoin.

Just today Segwit2x inserted code into their client that camouflages it to make it look like a bitcoin client, with the intention to break down certain bitcoin defenses against the hard fork. And this could be just the beginning of damaging behavior, for example to increase the damage done by replay attacks.

I cannot take that risk and fortunately I don't have to, so I am bailing out. I would much prefer a continuously prospering bitcoin economy, but apparently that is not always easy to achieve.

Bitcoin has been around long enough for me to believe it will probably make it through this. It would be helpful to have some clarity from the exchanges as to whether they will/still support 2x. If Coinbase and Bitpay drop out, it will probably be another worthless alt with minimal impact.

[hgmichna]

Bitcoin has been around long enough for me to believe it will probably make it through this. It would be helpful to have some clarity from the exchanges as to whether they will/still support 2x. If Coinbase and Bitpay drop out, it will probably be another worthless alt with minimal impact.

Believing is not safe. Understanding the situation is better. There has never been a situation like this before.

If you fully understand the difficulty oscillations due to b.cash, then you may have an idea of what lies before us. Consider that even a small difference in mining profitability can make all or most miners change to the other branch. What will you do when there are suddenly only very few bitcoin blocks, very high and unpredictable fees, and lots of stupid and fake news?

I hope that the worst will not happen, but I cannot rule it out.

There will probably be not much clarity before the hard fork.

[TimeHacker]

To mitigate the risk, it's probably best to have part of your money in Bitcoin and part in other well established coins like Ethereum for example. By keeping BTC you might win some free coins, but also loose quite a bit of money if it goes badly.

[Samarkand]

To mitigate the risk, it's probably best to have part of your money in Bitcoin and part in other well established coins like Ethereum for example. By keeping BTC you might win some free coins, but also loose quite a bit of money if it goes badly.

Ethereum is not a safe haven!
What do you think will happen to the ETH price when the ICO bubble finally bursts?
I am pretty confident that we will see Ether prices under 50 $ per ETH in the
very near future.

[SimilarCoin]

I think, I am not going to ride it like every other investor.
It may not effect me much.

[wxa7115]

Bitcoin Gold intends to completely change the mining algorithm that currently exists in Bitcoin. The idea is to exit the SHA256 algorithm, which requires ASIC supercomputers to be processed, for Equihash, which will require GPU-type computers.
With this, BTG proponents believe that it will be possible to keep the mining process more decentralized. That is, the verification and validation of the transactions in the network can be done by less sophisticated processors and, consequently, by more technology users. The original Bitcoin mining is currently dominated by large mining companies because of the scale required to perform this type of activity and is about 80% concentrated in the hands of Chinese entrepreneurs.

Didnt Litecoin do that a looong time ago. Forked bitcoin and used scrypt. Why are BTG making a big deal about this new coin as if it is the lightbulb answer to the chinese miner dominance.

Marketing reasons, they are trying to sell this as if it is the solution, they know that people have a bad opinion of the miners even if they are necessary to bitcoin survival, basically they are selling snake oil, because even if that worked mining will tend to get centralized, so instead of having Chinese miners we are going to have a monopoly of Nvidia and AMD.