Steem investor report 31 july 2017 bitcoin cash fork

A new currency: Bitcoin's 'civil war' ends on Tuesday and 'Bitcoin Cash' will be born

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If you were worried about the possible coming HF on August 1st, this should at least give you some reassurance that even if it happens it isn't much to be worried about, at least at first. Bitcoin Cash is a hard fork that is being developed and launched by a few mining pools in response to the SegWit implementation on the main chain. The goal of Bitcoin cash is to mine 8 MB blocks, which would be 8 times larger than that of Bitcoin, and to also maintain a network without using the SegWit fix.

SegWit is seen as a temporary band-aid by some and somewhat goes against some of the core principles of what makes Bitcoin, Bitcoin. SegWit is likely to increase the block size to 2 MB, with the possibility of holding almost 4 MB of transactions in the most optimistic case. Even then, Bitcoin cash blocks would still be times larger than even Bitcoin with SegWit activated. It is becoming clear that many are not recognizing Bitcoin Cash as an official part of Bitcoin but instead are classifying it as a separate coin.

Specifically, Coinbase has come out and said that it does not intend to interact with the Bitcoin Cash blockchain. That is a big deal as Coinbase is currently the largest wallet operator and one of the largest exchange operators of Bitcoin.

Even if Bitcoin Cash doesn't gain a lot of traction at first, the 8 MB block size is going to be very alluring as Bitcoin attempts to scale. At that point the creators of Bitcoin Cash are thinking people will slowly start to migrate over to Bitcoin Cash. While it might not really be a big deal at first, there is always the chance that people start to flock to that chain in the future when scaling steem investor report 31 july 2017 bitcoin cash fork an issue yet again.

There is also the possibility that Bitcoin Cash dies on the vine long before the 2 MB block limit becomes an issue again with Bitcoin, which would mean an entirely new proposal would have to come about at that time to solve the new scaling issues Why not try all three? Bitcoin United is Bitcoin on the BitShares steem investor report 31 july 2017 bitcoin cash fork.

This is the only thing that keeps Bitcoin relevant in the long run - a multi-platform upgrade strategy. The Third Bitcoin is the one to Watch. Free money is always a big deal in my world.

Get bitcoin just to earn free BTC Cash!!!! This post received a 2. For more information, click here! It's really hard to predict on what is going to happenif it's going to be the same story as what happened to ETH than people holding BTC are in for a treat.

That is not to dissuade you; this is exactly what I am doing: What we need is more of that tasty mainstream revenue up in here. However, because BCC at least seems a try to scale Bitcoin, it at least gives the market an idea of how the chosen solution works in practice. That will provide interesting feedback for other Bitcoin camps. This post received a 4. If anything, we should be happy to have a competing bitcoin, with a different solution to the scaling problem that has been crippling bitcoin for years Agreed but there would be no scaling problem had Blockstream not intentionally prevented a block size increase.

Increasing the block size is the intended way to scale bitcoin. There was time bitcoin transactions were almost free and instant. Now I pay heavy fee's and wait minutes to hours for coin to move. All this is a result of Blockstream working to cripple bitcoin so they can profit by offering a private centralized solution.

We are witnessing a 'voting event'. Indeed exciting that new ways will be tested for the scaling issue. The sell off will happen so fast that only a lucky few will get even close to what the bcc futures is trading at. It wont be worth the risk sending your real bitcoin to an exchange to cash out bcc for peanuts! Bitcoin Cash somewhere in China on August 1st This reminds me of the whale they blew up in Oregon.

The chunks rained back down injuring some as they ran for survival. A parked car over a quarter mile away had it's roof flattened. The more you know! I bet somewhere in the future, aliens are watching this thinking we're such primitives.

Just shows you, when you try to stick a fork in the big whale you get shit spewed all over yourself. I actually think people who get in BTC now by selling altcoins are in for a steem investor report 31 july 2017 bitcoin cash fork loss. I explained it in my blog yesterday as well. Check it out if interested: Yes, I think so as well. I think the market will likely move too fast for them to realize any gain from that strategy. By the time they get out of Bitcoin and back into the coins they sold, they will be paying higher prices Just read yours and I basically agree.

Would steem investor report 31 july 2017 bitcoin cash fork that the "dividend" could be priced a lot closer to zero than most expect.

And now if Alts start to rally into the 31st, they all get more expensive to buy back even before hand. Therebwill probably be a happy few that get the timing exactly right but to me it seems it will not be very easy to get rid of BCC 'earned' that easy. After all, for every seller there's a buyer. Where will deep liquid BCC markets arise spontaneously?

I have a feeling a lot steem investor report 31 july 2017 bitcoin cash fork people are going to try and cash in on BCC and its really going to hurt Bitcoin for a couple of weeks Bitcoin is getting a bit more distributed and traded by a large number of people so I doubt "whales" can manipulate it at will.

Would be interesting see what whales exist in bitcoin. If everyone is holding btc just for free BCC and intend to sell, then BCC will drop like a stone as soon as it's live! That will give miners no incentive to mine it, exchanges no incentive to hold it and it will die out!! That depends on how your hold your bitcoin I had no idea about Bitcoin cash until now. Thanks for the info jcornel. So yes its a big deal.

I think there will be no problem with the SegWit and we won't even need this Fork. We don't have to worry at all! Just have a seat and watch the market to make the best transactions we can! Because it will bring tons of oportunity to make some cash, Let's Charts friends!!! I think i read somewhere about the block size increase in October.

Is that still an option Or was it ruled out with segWit? If i understand correctly, bitcoin cash needs to get miners to sustain the network? If there won't be enough of miners, than the fork should die?

Have to wonder if there will be a selling frenzy once people get their Steem investor report 31 july 2017 bitcoin cash fork cash, wondering if now is a good time to sell and get back in after August 1, but there is the fear of being shaken out.

I just open a new one and planning to transfer. This post received a 3. I think the final result is going to be a hard fork that will not be a real menace to BTC in the short term but it will not be all bad to have this latent "competition" so BTC does not take so long to make a decision to scale.

Waiting 3 years to scale again will not be feasible anymore because BCC or BCH will be there to remind everyone not to get sleep for too long. Not to mention with platforms like EOS coming out that tote significant improvements on transaction speed and scaling, there's the slightest chance BCH may actually be a more eligible competitor. In a world of 7 billion people and 1 million transactions a second, scaling matters.

Thanks for explaining in brief. But one thing i noticed there is no surety in crypto-market. Any rule can be changed any time. Very few are trading on technical analysis.

But sometime they also getting fail. No matter it is bitcoin or altcoins. Well said, I really like this that you've laid out. And I definitely share the viewpoint with you.

I also hope to leave my legacy here steem investor report 31 july 2017 bitcoin cash fork steemit, and what I share here is what I would want to be remembered for. I think we can all look for something new!

Thank you for being here. Yes Bitcoin cash will just be another alt coin. Question is will it steem investor report 31 july 2017 bitcoin cash fork better than the others like ltc, dash or eth? It think it does not. Yes I had receive the notification from coinbase that are not willing to support bitcoin cash, but still is not clear to me how I will be affected.

Just in case I moved my money to another wallet. These days look an eternity to me hahaha I would have preferred to go to a cave until 20th of August or so when all this noise is over. I'm here for the long term anyway, but still, you can't avoid to being pending on all these news. Thank you for sharing jrcornelat least I can be calm the first weeks after the 1st of August hahaha.

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It's an effort to implement a code revision referred to as a Segregated Witness , or SegWit, a method for separating signature data from transaction identifier data in a Bitcoin transaction.

Doing so offers a number of ostensible benefits , including increasing the Bitcoin blocksize, limiting the extent to which transaction data can be modified by third parties, and simplifying scripting upgrades.

The SegWit operation depends on the consensus of Bitcoin miners. If a majority of the Bitcoin miners signal their support through their mining activity, the change should become active across all compatible Bitcoin clients.

But if BIP is only embraced by a minority, the blockchain could split. In an email to The Register , Bitcoin contributor Dave Harding explained, "The development team for SegWit, called Bitcoin Core, released it in late October with an activation method used for a previous successful Bitcoin upgrade.

Miner activation of Bitcoin upgrades is not mandatory, said Harding, but it's less disruptive that way. Harding believes he knows why, but hesitated to speculate. Harding describes UASF as a boycott on steroids. That's what's happening at the end of the month. As a consequence, everyone will be forced to join the boycotters or to exclude them.

Harding said that if everyone accepts the proposal or if everyone rejects it, there would be no issue. That means when the UASF starts on August 1st, we have to wait and see whether or not the people who say they support the UASF actually put their money where their mouth is and refuse to accept Bitcoins from any boycotted miner or anyone associated with that miner. And for those who haven't chosen a side, there's uncertainty about which kind of Bitcoin will be valid.

Harding stressed that Bitcoin marked as confirmed in a wallet prior to the start of the event will be safe. It's the Bitcoins passing back and forth afterwards that are at issue. To further complicate matters, there's another such proposal known as "SegWit2" planned for November. Among those in the Bitcoin community, there's doubt about whether this alert is being handled in a responsible manner, because a blockchain split is considered unlikely. A research note issued by Morgan Stanley analysts on Wednesday may do more damage.

It advised spending bitcoins rather than saving them because "Bitcoin acceptance is virtually zero and shrinking. The Register - Independent news and views for the tech community. Part of Situation Publishing. Join our daily or weekly newsletters, subscribe to a specific section or set News alerts. The Register uses cookies. And you know who's going to be there? Hell yeah, those job cuts worked out great… for our investors Senator Kennedy: Why I cast my Senate-busting vote for net neutrality.

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Don't panic, but your Bitcoins may just vanish into the ether next month Well, actually, do panic. No overwhelming support Harding said that if everyone accepts the proposal or if everyone rejects it, there would be no issue. It advises Bitcoin users to: Not trust payments until some indeterminate time when the situation has been resolved. Not send payments during this period. Be wary of offers to invest in the outcome of the SegWit by splitting your coins.

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