The Bitcoin Thread

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Sabre Wulf said:
Altcointrader.co.za
I'm trading ZAR against BCH.
People are buying into BCH for the free tokens at the fork in 2 days time I'm guessing.
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The Bitcoin Cash fork on 13 Nov is a hard fork (network upgrade, not split) there will be no free coins.
 
Skywalker42 said:
The Bitcoin Cash fork on 13 Nov is a hard fork (network upgrade, not split) there will be no free coins.
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https://bitcoinist.com/bitcoin-prices-fall-1200-days-bitcoin-cash-steals-hard-fork-limelight/

In the days since the cancellation of the SegWit2x hard fork, the original Bitcoin chain (BTC) price fell to around $6500 from its all-time highs around $7800.

As investors realized they would not be able to profit from ‘free’ SegWit2x balances, attention turned to BCH as developers announced a hard fork of their own.

This Bitcoin Cash fork could potentially spark a second chain of the altcoin, giving investors equivalent balances.

Expectations increased over the past 24 hours as Bitcoin Classic announced it was shutting down while officially endorsing BCH to become ‘Bitcoin’ within just six months.

In a farewell post earlier this week, Classic’s release manager Tom Zander wrote:

It is now up to the next billion people to start to use Bitcoin Cash. In at most 6 months, I’m sure we’ll just drop the ‘Cash’ and call it ‘Bitcoin’.
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https://www.bitsonline.com/flippening-bitcoin-cash-possible/

And before anyone has a hissy, this is not my opinion, I'm merely posting what's out there and what people are likely reacting to.
 
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http://www.trustnodes.com/2017/11/11/bitcoin-crashes-107000-transactions-stuck

A rush to exit may be underway as the titanic may be sinking, but there are not enough saving boats, the road has been blocked, with 107,000 transactions stuck at the time of writing.

The bitcoin network is currently running at an incredible 14 tx/s, the highest number we have ever seen. While fees have spiked to around $7 or more, potentially increasing further considering what appears to be an incredible level of activity.

Btc has lost nearly $14 billion in market cap during the past 24 hours, while bch has risen by close to the same amount, gaining a market cap of $21 billion.

The currency is seen as a real contender for the top spot, with some stating Bitcoin Cash is the real bitcoin, while what is now called bitcoin is a completely different hub-to-hub settlement system which should be renamed to bitgold.

Anyone who had bitcoin prior to August 1st has an equal amount of Bitcoin Cash, the two currencies therefore have an identical network effect prior to August 1st.

That means it is now for the market finally to decide which one is the real bitcoin, Bitcoin Cash with its instant, as good as free, global, permissionless, internet money, or bitcoin with its congested network, stuck transactions, fees of near $10, not even a currency, without even a usable blockchain, lacking any real utility, and so on.
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And with that, BCH is trading at R22k a pop on Altcointrader... was around R14k yesterday arvie.
Good weekend for trading, what?
 
Damit, should have done som extra reading before I bought some btc yesterday fir the first time. So we learn..
Wonder if I should chsnge my btc to eth on luno rather.
 
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Sabre Wulf said:
http://www.trustnodes.com/2017/11/11/bitcoin-crashes-107000-transactions-stuck
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That means it is now for the market finally to decide which one is the real bitcoin, Bitcoin Cash with its instant, as good as free, global, permissionless, internet money, or bitcoin with its congested network, stuck transactions, fees of near $10, not even a currency, without even a usable blockchain, lacking any real utility, and so on.
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There's no way it will be free or close to it as miners won't mine for peanuts and without miners the currency fails. Everything has a cost.
 
SaiyanZ said:
There's no way it will be free or close to it as miners won't mine for peanuts and without miners the currency fails. Everything has a cost.
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It's smoke and mirrors - an attempt at a coup IMO.
 
Just switched my mining from Nicehash to Prohashing with BCH payout...
 
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