a2596e No.1609
There's a lot of mention that Bitcoin will be forked on August 1st.
Let's have a discussion regarding that. If you have an investment suggestion for the meantime, do not just post an image of a coin's icon on a rocket ship.
For starters,
>Potential fork(s)
Because of transactions times and fees, Bitcoin's scalability problems are becoming clear. We can assume there will be one fork that is the original Bitcoin as is, and the other fork is Bitcoin with changes such as Segwit and Lightning Network.
We can discuss whether or not these changes will improve transaction times and fees, and the underlying drama on why these are so controversial.
>Potential impacts on Bitcoin's value
Ethereum had something similar happen to it, which is the split between Ethereum Classic and Ethereum itself. Allegedly at the time, Ethereum for both cases lost a large portion of its value.
Reasons why Bitcoin will replicate the effects of the fork, and why it would not could be discussed.
>Would the fork even happen at all?
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9c7dd3 No.1610
So is it just going to be as simple as buying ETH mid july and ride the wave to August the 1st as people lose confidence?
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a2596e No.1611
>>1610
I don't really know the nature of the hard fork.
But here are some forks I've found.
https://bitcoinclassic.com/
https://github.com/bitcoinxt/bitcoinxt
https://github.com/BitcoinUnlimited/BitcoinUnlimited
So if each of these become a hardfork, then there will be at most 4 versions of bitcoin to choose from. However there is also the possibility where there's only 2 versions, one being Bitcoin as it is now, and the other being Bitcoin with all the enhancements for scalability.
I can't predict the future. We can only guess.
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a2596e No.1618
>>1611
As things as going, I see a guess #4 on the Yes side.
There will be two forks, Bitcoin Unlimited and Bitcoin Core, the latter without the scalability upgrades. There will be the contingency where Bitcoin Unlimited's reputation preceeds it, while having an implementation for scalability, it being of poor programming, it becomes the recessive chain in terms of adoption.
Guess #4a, where Bitcoin Unlimited's programming in the hard fork is ironed out and it gets the job done competently, it being the dominant chain.
Guess #4b, where Bitcoin Unlimited's programming in the hard fork is inferior to Bitcoin Core's. It becoming the recessive chain.
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a2596e No.1626
>>1618
Looking even further to this, the Bitcoin forks are
Bitcoin Unlimited, lets miners determine the block size. Rumors being that it's the Chinese miner coin that one of the major miners is premining. One of the reasons why segwit is so heavily supposed because nullifies an exploit one of the miners are using.
Bitcoin Core, uses Segwit which then allows lightning network.
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a2596e No.1672
YouTube embed. Click thumbnail to play.
YouTube video is a discussion on the future of bitcoin (8 hours).
Honestly sometimes I look at discussion, and the situation is less clear than before.
Right now there's the idea that Bitcoin is becoming centralized now that hashing power (computing power) is becoming concentrated into dedicated mining groups since the average person does not have ASICs to have mining be feasible. The common accusation I'm seeing against segwit and lightning network is the concern that it will further centralize the bitcoin network from users to corporate entities.
For example, in Lightning Network, a node would be the intermediary of a transaction.
Some people think because of that, the transaction processing is more distributed now that the nodes are involved instead of just the miners. Others think the network topology becomes hub and spoke instead.
https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800
https://cointelegraph.com/news/australia-will-recognize-bitcoin-as-money-and-protect-bitcoin-businesses-no-taxes
This is actually very unfortunate timing since bitcoin is starting to get recognized for the "offline world".
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a2596e No.1689
>>1672
Well I'm quite conflicted. It seems there's two forks.
On one hand, there's the common accusation of a Chinese miner chain (Bitcoin Unlimited).
The other is the Segwit/LN chain heavily supported by Blockstream, with heavy central banker support. The claim being that Segwit/LN contribute to centralization.
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7ec980 No.1710
https://bitcoin.org/en/alert/2017-07-12-potential-split
Official bitcoin site has an alert for it.
I get the feeling this is particularly rough and I don't think I can trust either side.
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4634ad No.1711
>>1611
Nigger there is only ONE bitcoin to chose from
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4634ad No.1712
>>1710
Why would you not side with the user activated soft fork, segwit, and the coredevs?
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4634ad No.1713
>>1672
>For example, in Lightning Network, a node would be the intermediary of a transaction.
Would a lighting node be mandatory? It wouldn't.
That medium article has way too many assumptions.
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40e8f8 No.1715
>>1712
There's a /pol/ thread claiming that the Segwit and Lightning Network upgrades are Jewish.
>>>/pol/10124442
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f54b11 No.1954
Opinions on BCC (fork for 8 MB block sizes) and BTC (Segwit)? For a retrospection, there was Segwit 2x signaling, a bull run to 2.8k USD from 1.7 because people think there won't be a chain split, then a chain split.
If there's one thing, I don't like how the hashing power is used as voting power to begin with, and I'm not confident with it being a continuing thing for Bitcoin.
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17b3a1 No.1960
I received severance pay literally today. This is the first time I've had substantial money to invest in cryptocurrency.
BTC or BCC?
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f54b11 No.1962
>>1960
If you're going to use crypto to buy something right this instant, then BTC since its the main coin that all exchanges base their markets primarily on. Also I haven't found a non-sketchy light wallet for BCC just yet (note: previous BTC holders would have to import their private keys and it's easy to get fucked over by a scam or just insecure wallet in that scenario).
If you're looking to invest, I don't actually know the future. The ones trading around the time of the Ethereum fork may be able to better answer. My own guess is that Bitcoin's pre-fork value is going to be divided between the two chains, and for the time being, BTC currently priced as it was before, is on its way down for the time being.
I think the 8 MB block size increase is a temporary solution. Once those fill up, its going to come across the same issue as earlier this year. I'm a little biased for Segwit since it patches the ASICBOOST exploit the miner wanted to keep, who also benefits from high transaction fees that average users have to deal with.
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c25512 No.1964
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f54b11 No.1965
>>1964
Exchanges are starting to allow deposits so pre-fork bitcoin holders are dumping off their bcc, hence the price decline.
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