Bitcoin Gold and Segwit2x upcoming forks

[PDAngel]

Some people love the free money, but it seems really bad for Bitcoin long-term.

As for me free money not free money, we always work something to earn.. Nothing is free in the world ... Dont hate free money :3

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[MAbtc]

For B2X, you should wait a day or two to see what's happening before making a transaction.

Do not transact B2X unless you want to lose your Bitcoin. There is no viable replay protection.

Is anybody following what's happening with this? Last I heard, opt-in replay protection was being removed, but the BTC1 folks were discussing strong replay protection via the OP_RETURN script. I certainly hope they add strong replay protection because people are inevitably going to try to split their coins to sell the B2X. And using nLocktime + RBF is really not intuitive for novices.

[DoublerHunter]

This upcoming forks is what i am waiting for because i bought bitcoin at the dips from the FUDs like around 4,000 or even below and up until now, i am still holding bitcoin because of the upcoming forks because i believe that after the forks and after i get the bitcoin gold bonus coin like an airdrop then i will sell it and i will sell some of my bitcoin so i can unload some for securing profits.

[MrCrank]

For B2X, you should wait a day or two to see what's happening before making a transaction.

Do not transact B2X unless you want to lose your Bitcoin. There is no viable replay protection.

^^ This. There is no replay protection in 2x and people should be extra careful. If you want to do it anyway, make sure to move original bitcoin (original blockchain) to the new address before spending 2x from the same old address on the new forked chain.

This is not safety.. All proccess like get Bitcoin Cash.
How think if hold BTC on poloniex, will they add and fund new coin bitcoin gold?

[Hotel_Prodeo]

No matter the presence of bitcoin gold, I'm sure will be the same as bitcoin cash, the best way is to invest in the beginning and then sell when you get profit 50%, let's welcome bitcoin gold to get profit quickly.

[coindomain]

I agree that both forks (Bitcoin Gold and Segwit2x) may bring about some Bitcoin price volatility during the next few weeks. However, historically price volatility has been positive for Bitcoin due to more media attention leading more people to get involved with cryptocurrency and ultimately Bitcoin price has always moved higher over time. I don't expect the next two forks to be any different from the recent Bitcoin Cash fork experience. These forks help to move the adoption of cryptocurrency forward and I don't think people should be concerned.

[Lauda]

Why the Brazilian and Argentinian Bitcoin communities oppose SegWit2x: https://medium.com/@Ulrich_98986/why-the-brazilian-and-argentinian-bitcoin-communities-oppose-segwit2x-801edc213af8.

[rindo]

The great majority of Bitcoin users doesn´t follow daily news and updates released about the tech. Some of them even buy Btc and leave them on a exchange market. There is a general idea also, at the moment, that people should join now and purchase Btc, because with the upcoming "hard forks" there will be extra cash to everyone. But everybody should keep in mind, that there is several risks involved and in this Bitcoin community, things are not always what they seem.  The hard fork of Bitcoin Gold will happen on the 25/10, while the Bitcoin SegWit 2x somewhere in 3º week of November.

[MrCrank]

Why the Brazilian and Argentinian Bitcoin communities oppose SegWit2x: https://medium.com/@Ulrich_98986/why-the-brazilian-and-argentinian-bitcoin-communities-oppose-segwit2x-801edc213af8.

I think this is not good. I really don't understand why oppose..
Bitcoin gold will be the power alt of bitcoin and better than BCH. Most users would like GPU mining

[thejaytiesto]

Do not transact B2X unless you want to lose your Bitcoin. There is no viable replay protection.

If we can't transact B2X to the exchanges, then how is a price for B2X going to be established? We need to be able to transact it in order to dump it, kill the price and force miners to come back to the legacy chain. If we cannot do this then how can B2X be beaten?

Maybe they will beat themselves if people lose a lot of money because of they not adding replay attack protection, but this would fall into a legal level and legality may not apply or care in this case to do anything about it.

Seems like a tricky situation where you must leave your coins in an exchange prior hardfork in order to dump them... not a good idea, specially whales that have tons of BTC ready to dump, it's a risk to leave them at the exchange.

[danielhodous]

I believe a lot of coins will be lost after segwit2x more than people realize when they lose coins due to the lack of protection... people will abandon the new coin due to the flaw and the dump... this will stop (or at least seriously slow) future forks.  Will created added confidence to the original bchain, and the increased rarity due to the people burned by coin loss will push BTC to $8250 by December 20th.  A pullback to $6500 in mid-january until hitting $10k by March 2018.

Economic stagflation in fiat and increased interest rates by the fed...  and a 15-20% housing market dip will depress BTC (at first think a 20% sustained drop over 2 months) back to a 7-8k level in June before sending it to a level of 22k by October of 2018 when stock conditions have investors looking harder at cryptocurrencies.  Should see overall crypto investments hitting 500 billion by then... which would equate to only a move of .5% of investment from the regular stock market into the cryptomarket.

Once the market takes a dip below the psychologically important Dow industrial average of 17500 due to the democrats defeating the gop in the midterms you will see a large wave of investment movement to BTC (not so much ALT coins like the previous move).  By January 2019 you could see the first crossing of the 1trillion market cap with BTC dominance around 63%.

At that point Bitcoin in January of 2019 I'd estimate there will be approximately 17 million bitcoins in existence... price at that time 37k /coin.   At that point the stock market will start really getting into problems.

High interest rates + Congressional uncertainty + bad housing market + a POSSIBLE attempt at democrat impeachment = a massive exodus from the stock market and bond market into:
Commodities, Precious Metals, & Cryptocurrencies

100k/coin by January 2020 and that STILL would only be a 2.2% movement into cryptocurrenies away from the stock and forex markets.

Anyone that thinks Bitcoin is a bubble is psychotic "It's only just begun"

[Lauda]

If we can't transact B2X to the exchanges, then how is a price for B2X going to be established?

Either you transact and risk loosing Bitcoin or you do not. Either the exchange credits existing balances, or not. Either way, the best way to currently estimate the price of B2X is futures trading as there is no risk of losing your Bitcoin ATM. Last time I've checked, the price was 1/8 of Bitcoin if not lower.

We need to be able to transact it in order to dump it, kill the price and force miners to come back to the legacy chain. If we cannot do this then how can B2X be beaten?

A coin without liquidity on the market and transaction liquidity has inherently no value since it has no use case.

Seems like a tricky situation where you must leave your coins in an exchange prior hardfork in order to dump them... not a good idea, specially whales that have tons of BTC ready to dump, it's a risk to leave them at the exchange.

I am not touching my coins unless there is a provably safe way of dumping that garbage shitcoin.

[SomovX999]

Bitcoin Gold is a fork of the Bitcoin blockchain that will occur on October 25, 2017. At the predetermined block height, Bitcoin Gold miners will begin creating blocks with a new proof-of-work algorithm, and this will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. The new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork, but then diverges from it. As a result of this process, a new cryptocurrency will be born.

[phr0stbyt3]

I don't think it is a good option these forks might give free money to millions but no one sees the damage it is causing bitcoin in the long term. It also spoils stability of the overall markets , forks should happen once in a year not every quarter. This hype is going to be like ico too hot in starting and finally a useless dumped token

[squatter]

Why the Brazilian and Argentinian Bitcoin communities oppose SegWit2x: https://medium.com/@Ulrich_98986/why-the-brazilian-and-argentinian-bitcoin-communities-oppose-segwit2x-801edc213af8.

I think this is not good. I really don't understand why oppose..
Bitcoin gold will be the power alt of bitcoin and better than BCH. Most users would like GPU mining

Nah, Bitcoin Gold is already dead on arrival. The developers have already confirmed it's a premine. An airdrop with no real developer community and nothing but fork hype isn't going to go very far. There's plenty of other coins more worthy of your GPU hash rate; competition is fierce.

If we can't transact B2X to the exchanges, then how is a price for B2X going to be established?

Either you transact and risk loosing Bitcoin or you do not. Either the exchange credits existing balances, or not. Either way, the best way to currently estimate the price of B2X is futures trading as there is no risk of losing your Bitcoin ATM. Last time I've checked, the price was 1/8 of Bitcoin if not lower.

The problem is that in order to profit from the futures market, you need to hold funds on the exchange through the fork. You can sell the BT2 for BTC, but you'll take an equivalent loss if you sell the BT1 for BTC without waiting a month. I think the market is probably fairly accurate given the current market information, but it isn't worth the exchange risk to trade it. Hence the low volume.

[frankbitcoin]

still no word from Trezor if they're going to be offering the Bitcoin Gold to Bitcoin holders.

[Lauda]

The problem is that in order to profit from the futures market, you need to hold funds on the exchange through the fork. You can sell the BT2 for BTC, but you'll take an equivalent loss if you sell the BT1 for BTC without waiting a month. I think the market is probably fairly accurate given the current market information, but it isn't worth the exchange risk to trade it. Hence the low volume.

That is not a problem of any kind as plenty of people are stupid enough to keep coins on exchanges, which is almost the same as keeping cash in the bank. In other words, they're not your coins but IOUs. As seen with the last Bcash fork, plenty of people had money there (although this made it harder to dump for them since it took time for the exchanges to credit). Now it may be the opposite. However, the exchange will put itself at risk by accepting Segwit2x deposits and withdrawals.

still no word from Trezor if they're going to be offering the Bitcoin Gold to Bitcoin holders.

They do not need to. You have the seed.

[Lauda]

S2X sybil attack has begun.


https://mobile.twitter.com/nopara73/status/921075561316876288
Garzik sponsoring this sybil attack: https://twitter.com/bergealex4/status/920961133262934016.

[Hannibalis]

Always good to have free money. is there any price expectation?

[LogitechMouse]

Thanks for sharing this idea. I'm confused with that fork term but now I have an idea already. Thanks