Bitcoin Cash has now become the longer chain of the Bitcoin fork and is quickly approaching majority hashpower:
Segwit Bitcoin currently has over 80,000 stuck, unconfirmed transactions!!! Look at this fee graph:
If you have sold Bitcoin Cash, your time to buy it back is running out. There is only going to be one Bitcoin and it isn't going to have Segwit.
Thanks... This is because the mining power tried to run behind the price increase in BCH... This will not last, once the difficulty of BTC chain drops with this migration... The miners are always looking for profits...
It's more about the BCH diff increase by 300% in about 5-6 hours. The jaws will open then ;)
According to you, Bitcoin Cash was supposed to be dead already!
I also heard a lot of garbage from this cardboard idiot. I asked him to bet all his savings on BTC and I hope he did. That would teach him a lesson. I still think he has some brains left because he is at least interested in a technically outdated coin instead of ignoring the blockchain space altogether.
Yeah, nice pump you had there :)
Time is on our side. How do you like paying $5 fees to send $100? I just sent a $1000 for free.
Not much but I believe it will be better very soon :)
Your fees still suck and they're about to get much worse.
I'm doing this in litecoin. But lite is not going to win 1st row on coinmarketcap obviously.
I think that the miners are done with SegWit and that team. Bitcoin Core and Blockstream have not placed enough value on the work that the miners do for the network and the miners will stay with BCH for the long term.
As they should, but its also more profitable to choose one over the other.
BCH is bitcoin for the people. unlike btc which has a $10 fee for every transaction. lol
It's actually like $5 which is practically theft compared to Dash or NEM. BCH has higher fees but it's acceptable and lower than ETH or Monero.
I also recommend people follow @pphan. It looks like he recently joined Steemit and his blog ( http://bitcoinandtheblockchain.blogspot.co.nz/ ) has been an invaluable source of information during this flip.
Anyone else feel like this issue is largely un- or underreported?? How is the BTC price still hovering around $4k? Things are bound to change soon. Majority hashpower, longer chain, larger blocks, more usability....sounds like bitcoin to me.
Fiat < Original Bitcoin
Segwit Bitcoin (fiat) < Bitcoin Cash (original bitcoin)
I don't know, what are you guys thinking now? Huge migration of hashpower back to BTC as it's way more profitable, and a downward adjustment of difficulty coming for BTC as well to make it even moreso. Have we been a bit overzealous in the "chain death spiral" talk?
If miners really just follow the more profitable coin, won't this hashpower swing just keep going back and forth? And how does the emergency difficulty get activated for BCH?
So many moving pieces, so much information, hard to know what to do. In full disclosure, I've moved some BCH back to BTC: still hodling a BCH majority in about a 70/30 split.
I feel more aligned ideologically with BCH, but I don't understand all the behind-the-scenes mechanics well enough to put all my eggs in that basket. The hashrate migration and profitability moving to BTC means I have to hedge my bet and realize that maybe I got too emotional.
Curious what all you other BCHers are thinking and doing right now with this latest swing, @ancap47, @pphan, @wvm, @belerophon, @crypt0, @melip?
Have I been overzealous? Not by much, Bitcoin fees are ridiculous compared to Bitcoin Cash, and going to get worse. I would say this is a case of temporary irrationality in the market. Mostly a lot of people who don't understand yet.
Bitcoin Cash miners are adapting by allowing another Emergency Difficulty Adjustment to kick in and be more profitable by tomorrow. This is why the pain for segwit-bitcoin is just being prolonged and not stopped: Any time Bitcoin Cash loses hashpower, it has EDA and can keep mempool clear with big blocks, every time it swings the other way, things just get worse for segwit-coin (mempool and fees bloat). Bitcoin might have escaped the death spiral this time, but how many times can it?
Thanks for responding.
And BCH can keep doing Emergency Difficulty Adjustments for....how long? In perpetuity? Is that the caveat that could potentially bring BTC down, like you say, how many times can it escape the death spiral? Nobody seemed to mind the mempool and fees bloat this past time, if market value is any indication. The question is, will they eventually care?
I guess I just got a little wrapped up in the whole death spiral thing and I think it's a looooong game here and maybe even, in the meantime, some other coin rises to the forefront while these two play their back and forth. We shall see!
Looks like the miners are really gaming it. They stopped mining long enough to lock in 5 EDAs and now it is going to be more profitable to mine again right around the time segwit is activated.
Very true. The Bitcoin eclipse is happening. The flippening is happening.
F2pool moving lots of hash power and winning instantly. See charts here.
https://steemit.com/f2pool/@tuventure/f2pool-moved-350-ph-s-to-bitcoin-cash-bitcoin-eclipse
Watching the BTC mempool - it's over 80K now. Fees averaging $3 to $5 USD. Segwit supposed to solve this and they will activate next 1-2 days. Exciting days ahead!!!
@Ancap47, where are you getting that first graph? Thanks!
fork.lol
So awesome, thanks!
http://fork.lol/pow/hashrateabs
fork.lol
Do you know when Segwit is officially activated OP?
Something like 24h from now.
Okay thankyou!