I don't know about you but I'm so tired of BTC forks at this point... Why not be original, go and make a new token! What we are looking at here in Dec. 2017 is not a new fork of BTC but one that was already scheduled and then called off called Segwit2x. In this article I will briefly explain what is going on and how it may affect the BTC price in coming weeks.
All the forking around in recent months has caused a lot of confusion, not to mention some unhealthy chart spikes for Bitcoin. However, according to the project’s official website, the controversial SegWit2x hard fork will go ahead on December 28. Months of infighting and debate were the result of SegWit2x which was originally planned to fork from BTC in November but was cancelled at the last minute.
Ok so there they said it folks mark your calendar, Dec. 28th 2017 marks the date of a new fork!
Jaap Terlouw, project leader of the Segwit2x fork now says that the new token will fork off at block 501451. Confirmation is given in their project roadmap and on the website;
“Commission and transaction speed within the Bitcoin network has reached extraordinary values. It is almost impossible to use it as a means of payment. Our team will carry out the Bitcoin hard fork, which was planned for mid-November. At the same time, trading of its futures has been carried out on some exchanges for a long time.”
Traders tend to jump on the digital train in hope of getting the extra coin when the blockchain splits. It is likely to happen again this time with the founder promising that in addition to the common practice of crediting BTC holders with equivalent balances of the new coin, B2X, they would also receive; “a proportional number of Satoshi Nakamoto’s Bitcoins as a reward for their commitment to progress.”
Yah this doesn't seem to be happening right now... Wouldn't we expect BTC to be rallying instead of dipping downwards to 14,000 USD?
In my opinion we are looking at a situation where greedy developers are simply diluting the market and making it harder for cryptocurrency to gain mass adoption and be taken seriously. There have been too many forks this year for example there was Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin God, and Bitcoin Plus.
So I'll close with this remark. Please people stop forking up Bitcoin, be original, make a new blockchain, a new token, a new technology but leave this old dog alone!
Thanks for stopping by @techblogger
Source:
Stick a fork in it; SegWit2x is back - NewsBTC
Image Source:
News BTC
Yep. Here we go again... another price spike driven not by greater adoption, advance in technology, legislative lenience, but from free fuckin' money out of thin air. Look I'm not blaming anybody for jumping on the BTC fork train to make a few bucks on the split, in fact, it's to be expected. But I am against value creation from nothing and these consistent forks pervert the method from which gains should be derived from the crypto market. - from honest adoption, scalable technology, and adherence to project roadmaps.
Yes this would be my preference as well but who can stop these forkers eh?
I would implore you to read this. I believe this fork is a scam and i explain why in this post. We have seen BTC fork scams before and i believe the may be as well
https://steemit.com/bitcoin/@ginquitti/segwit2x-or-scam
I agree with your sentiment that some hard forks are driven by greed. That being said, forks will be a constant as the technology develops, transactions are optimized for scalability, and security is enhanced. For the time being you'll simply need to sit on the sidelines and watch as the various factions battle each other and dilute faith in the flood of derivatives.
Im still a novice to cryptos but in the past 3 months i've been pretty much living and breathing it. Because, 1 - I find it truly fascinating and 2 -of course the monetary promise is exhilarating. In all of my years of investing i know one thing for sure, stick to investing in proven assets. Bitcoin has proven itself, the others not so much.
Thank you for your post. It helped to shed light on what's currently happening in the Bitcoin realm. Any idea as to how Bitcoin is planning to counteract all of these branches? Like you mentioned, it tends to lose value or split it's perceived value and lose traction with people, thinking this may be the start of the "bursting of the bubble". However, I believe it may grow much further for a while before any bubble bursting may occur.
For a newbie like me, it's my first time to hear about Segwit2x. So thanks for sharing this! I think I need to read more about it though. :)
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Hey, I’d like to ask you to visit my post. I explain why this fork may not be credible or reliable. I think it may be a scam to earn quick money. But i am not sure. Take a look and tell me what you think:
https://steemit.com/bitcoin/@ginquitti/segwit2x-or-scam
In Spain the April fools is the 28th December, could it be that some of the developers are Spanish?? ;-)
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