CSW's "hash wars" impact on BTC price?

[cellard]

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

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[pooya87]

in the long run it will not matter at all because miners will always mine what is most profitable and bitcoin will remain that. similar to bitcoin-cash shenanigans we can expect a lot of chaos in bitcoin when they steal hashrate by making their chain more profitable to mine at first but in the end miners will come back to bitcoin. and as a result there won't be any bitcoin price change.


by the way, how do you know the following. SV chain has not started yet, has it?

the amount of hashrate that is going to support the Bitcoin SV fork.

[Wind_FURY]

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

This is funny. Bitcoin Cash is a parody of itself. Roger Ver and the Bitcoin Cash community said that, nodes do not matter, and the miners decide. Well the miners have decided. Bitcoin SV will be the real Bitcoin Cash! Hahahaha.

What now? Will they say that non-mining nodes matter, and that users should decide? Or that Bitcoin SV is an attack?

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Good, more opportunity for honest Bitcoin miners.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

Bitcoin does not care.

[davis196]

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

Damn,bitcoin cash doesn't look like a functioning coin to me.It looks like a private company,in which 2-3 shareholders are fighting against each other for a bigger piece of the pie,and it's all about money.
I feel sorry about all the bitcoin cash supporters outthere.They were manipulated to think that BCH is the real bitcoin.How sad.
Anyway,there won't be any impact over the Bitcoin Core price.

[Pursuer]

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

bitcoin speculators have never shown any interest in mining and hashrate so far. they didn't even care about the bitcoin cash itself and the hashrate that it stole from bitcoin. so I don't see why they should care about fork of fork of bitcoin and what that does!

it is funny that I all I can think of is all these empty blocks
so far we have 32 MB block space for BCH that is 99% empty and now when it forks to a new coin we will have 2 set of empty blocks that nobody uses at all... it is like an abandoned house of horror....

[audaciousbeing]

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

When I got the notification about the impending Bitcoin cash fork, I was just wondering what they have turn the entire fork opportunity into and in a short while, that same fork would also be made to go through another fork. The point is, they have turn everything into a joke.

I am now surprise that Roger Ver is now against the fork of his promoted Bitcoin cash despite his very potent stand when it was against bitcoin last year and the reason his simple because his influence would be diluted and the argument would then change from BCH being the real bitcoin or the forked BCH is the real bitcoin. Its obvious they have lost their ideology along the way.

On its influence on bitcoin, I think bitcoin has moved on to have an independent run away from forks and counter forks that have pervaded the entire industry in the last one year.

[clrpod]

It's nice to see Roger Ver getting a taste of his own medicine. Thankfully neither him or CSW can have much influence on Bitcoin, that's been shown before. Bitcoin price won't be changed because of this, even if a few miners move away they'll come back because bitcoin will be the coin to prevail in the long term. I don't think anyone will be speaking about bitcoin SV in a years time, just like the only time people speak about bitcoin cash is when crap like this comes up.

[exstasie]

I'm not sure why it would impact the price much. When BCH pumped a couple weeks ago, the rest of the market didn't follow. So I don't expect the rest of the market to follow what it does here either.

If Jihan pulls hash power away from Bitcoin, it won't matter. It didn't matter when the original BCH fork happened, and price doesn't follow hash power anyway.

[BrewMaster]

when it comes to speculation sometimes you have to see what majority of people think will happen. it may sound weird but that is what drives the market most of the times!

for example in this case BitcoinSV is such an irrelevant fork that people weren't paying attention to it that much except for the BCH communities for obvious reasons. which makes believe that no matter what mess they create for themselves it won't affect bitcoin.
and lets not forget that almost all of BCH hashrate is controlled by the same people and they won't let it go anywhere else.

[TrumpD]

Its all about money.The whole thing feels staged for more profits. BCC has gained over 30% in the last few weeks, however, I reckon the current shenanigans won't impact Bitcoin prices much. Between both SV and ABC, hash power seems to favor SV. Watching to see how the whole thing develops.

[Mahanton]

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

Damn,bitcoin cash doesn't look like a functioning coin to me.It looks like a private company,in which 2-3 shareholders are fighting against each other for a bigger piece of the pie,and it's all about money.
I feel sorry about all the bitcoin cash supporters outthere.They were manipulated to think that BCH is the real bitcoin.How sad.
Anyway,there won't be any impact over the Bitcoin Core price.

I do actually have the same views too when it regards to this BCH fork drama as of now it do really acts like a private company.I don't really care on what those people are trying to prove out.
Momentarily it did able to affect bitcoins price as of this moment if we try to check it out but It wont really be permanent at all.

[Slow death]

Craig Wright is back with his Bitcoin SV fork,

Faketoshi is a big problem for the crypto world, I just hope he stays with his altcoins (Bitcoin SV) and forgets bitcoin

With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

The market is that will decide what will be better, in my opinion this was the worst decision that faketoshi, jihan Wu and Roger Ver made, because this decision will only make altcoin cash disappear, so far altcoin cash did not disappear because they were united . see that altcoin ABC has the price of 0.04 BTC and altcoin SV has the price of 0.035 BTC, in the next days these altcoins are going to fall of price

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

he will not do it, in the last day I hears rumors that he had been removed from leading the bitmain, today I read this news:

Bitcoin Mining Firm Bitmain Confirms Board Shakeup, Denies Jihan Wu is Out as Chair

this shows that there are internal problems in Bitmain

[cellard]

in the long run it will not matter at all because miners will always mine what is most profitable and bitcoin will remain that. similar to bitcoin-cash shenanigans we can expect a lot of chaos in bitcoin when they steal hashrate by making their chain more profitable to mine at first but in the end miners will come back to bitcoin. and as a result there won't be any bitcoin price change.


by the way, how do you know the following. SV chain has not started yet, has it?

the amount of hashrate that is going to support the Bitcoin SV fork.

You can already check the intention of the miners on the coin dance website just liek you could check it for segwit activation, bcash fork and other shenanigans:

https://cash.coin.dance/blocks#blockDetailsForChainSplit

For this, you must understand what every pool is and what they are supporting. See this pic:




You may to check this out: https://www.youtube.com/watch?v=ACEUOCoVvmw

This might be a good opportunity to pick cheap coins again if deluded noobs start selling BTC and buying whatever shitcoin that comes out of this.

[1Referee]

he will not do it, in the last day I hears rumors that he had been removed from leading the bitmain, today I read this news:

Bitcoin Mining Firm Bitmain Confirms Board Shakeup, Denies Jihan Wu is Out as Chair

this shows that there are internal problems in Bitmain

It's just a smokescreen attempt to make him appear less relevant because of their IPO filling. Bitmain's extreme bias towards BCash might turn out to be a problem, and then mainly Jihan with how he is the public face of Bitmain, and this could very well be a convenient way to tackle any potential doubts on the side of the regulators.

Don't forget that Jihan has to ask for board approval to use Bitmain resources to stock up on BCash, and that approval was given to him more than once if you look at their accumulation history. In other words, this is just standard media circus.

[cellard]

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

This is funny. Bitcoin Cash is a parody of itself. Roger Ver and the Bitcoin Cash community said that, nodes do not matter, and the miners decide. Well the miners have decided. Bitcoin SV will be the real Bitcoin Cash! Hahahaha.

What now? Will they say that non-mining nodes matter, and that users should decide? Or that Bitcoin SV is an attack?

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Good, more opportunity for honest Bitcoin miners.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

Bitcoin does not care.

Yes, that is exactly what they are saying. On /r/btc there's a bunch of people complaining about Craig Wright's hashrate, they are claiming that miners do not matter if the rest of the community don't follow them. Just a couple of months ago during the SegWit2x nonsense, they were saying how miners were showing their strength by having  like, what was it, something really high I forgot, maybe 80% of hashrate was showing intention of SegWit2x support... the tides have turned, now they are suffering from a hashrate troll.

CSW claims he will take BTC next year when he kills BCash and his SV fork takes over. He also said in 2019 "LTC will die" as well as other PoW coins. I don't know about weak alktcoins but him taking over BTC is obviously nonsense.

[European Central Bank]

Is this the very first true mining war?

It could well be. I guess the effect could be to scare the holders of other pow coins, even though these circumstances are uniquely toxic.

The most depressing thing about it will be the feed this csw psycho's ego will get if he gets somewhere.

[STT]

The most likely crossover from BCH affecting BTC like this is from sales of BTC into the market by long term holders to fund hashing on this fork, so as to decide the path.    So that volatility has exceeded the boundaries in crypto between different blockchains, wonder if anyone saw that coming especially.  The tail is wagging the dog   Is this a proper breakout for BTC from its sideways crab movement, or will it revert in a few days after this moment passes.
   I would guess it counts, volume on the day should show significance also

[BitHodler]

The most depressing thing about it will be the feed this csw psycho's ego will get if he gets somewhere.

His time will run out when nChain's financial resources are exhausted, because once CSW can't fund money hungry miners who don't mind fucking up another chain, they'll move back to BTC because it's more profitable to mine.

The funny thing here is that both nChain and CoinGeek depend on Bitmain because that's where they bought their gear from. It will be interesting to see if Jihan ends up blocking them from buying gear in the future.

If I was an investor I wouldn't even think about touching any of this garbage, but then again, this space is all about reckless investments so I'm not surprised that others don't give a shizzle. All that matters are cold hard profits.

[Wind_FURY]

Craig Wright is back with his Bitcoin SV fork, and is showing strenght thus far with the amount of hashrate that is going to support the Bitcoin SV fork.

Apparently Roger Ver and Jihan Wu aren't supporting it, hence why the "hash wars" terms. With Jihan's empire against Craig Wright's 70% current hashrate it's going to be interesting.

This is funny. Bitcoin Cash is a parody of itself. Roger Ver and the Bitcoin Cash community said that, nodes do not matter, and the miners decide. Well the miners have decided. Bitcoin SV will be the real Bitcoin Cash! Hahahaha.

What now? Will they say that non-mining nodes matter, and that users should decide? Or that Bitcoin SV is an attack?

The reason I ask about BTC price is because if Jihan wants to ensure CSW doesn't win, he may be forced to allocate BTC hashrate into this developing clusterfuck in BCash.

Good, more opportunity for honest Bitcoin miners.

Will this be a non event or speculators will try to get some BTC out of it from noobs that fall into it?

Bitcoin does not care.

Yes, that is exactly what they are saying. On /r/btc there's a bunch of people complaining about Craig Wright's hashrate, they are claiming that miners do not matter if the rest of the community don't follow them. Just a couple of months ago during the SegWit2x nonsense, they were saying how miners were showing their strength by having  like, what was it, something really high I forgot, maybe 80% of hashrate was showing intention of SegWit2x support... the tides have turned, now they are suffering from a hashrate troll.

Plus Roger Ver might use the "hash war" to be his convenient exit from Bitcoin Cash, and come back to Bitcoin. We should open a poll, "will you welcome Roger Ver back with open arms?". Haha.

CSW claims he will take BTC next year when he kills BCash and his SV fork takes over. He also said in 2019 "LTC will die" as well as other PoW coins. I don't know about weak alktcoins but him taking over BTC is obviously nonsense.

It will work on newbies today, but memefied tomorrow.

[adaseb]

So how exactly does Craig Wright intend to destroy the ABC chain by orphaning a bunch of blocks? Because since BCH unlike BTC has the improved difficulty retarget algo and its chain won't grind to a halt when the hash power drops, eventually the difficulty would decrease and the lower hashrate would return to 10 minute block times.

If he wants to destroy or hurt ABC, then he would have to orphan a bunch of blocks or mine empty blocks. However most exchanges will see this and halt deposit or just increase the confirmation limit higher. Basically Bitfinex I think now has 30 confirmations needed for deposit creditation.

So if he wants to do this, it would get very very expensive and most likely not do much.