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Segwit2x Bitcoin Fork Suspended

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81–90 of 253 posts

Re: Segwit2x Bitcoin Fork Suspended

#81
post #14

So bitcoin went up because they were going to fork, and now it's going up again because they will not? k Edit: Otoh, looks like it's seeing a bit of a drop now, but I doubt it will hit the pre-anticipation levels.

Trying to explain Bitcoin price movements is a futile exercise.

Re: Segwit2x Bitcoin Fork Suspended

#82

The idea of “consensus” in the bitcoin network is interesting to me. The code expresses “consensus” mathematically, and there exists a binary truth of whether a consensus has been “reached.” That’s simple and straightforward. It’s easy to reason about what happens once a consensus has been tautologically reached. However, answering the question of “do we have a consensus yet?” is far less precise. Answering “what com…

You can do on-chain voting for protocol changes and this was done for segwit2x which was activated with an overwhelming majority of votes. Unfortunately only miners vote and in cases where other parties disagree with the miners you can get problems. More recently there have been chain split futures markets that gather predictions from traders; too bad that information came too late to avert the segwit2x fiasco.

Tezos is trying to build more sophisticated on-chain governance mechanisms. https://www.tezos.com/governance oh whoops https://www.coindesk.com/tezos-founders-sued-securities-frau...

Re: Segwit2x Bitcoin Fork Suspended

#83
post #70

Earlier quoted context omitted.

Doesn't Ethereum have its own problems right now?

Not ethereum, but one of the contracts written on top of it had a bug that some newbie triggered by mistake and locked something like $160M worth of moneys.

Ethereum's value, its reason for existing, is the deployment and operation of smart contracts.

When one of the most popular semi-complex smart contracts fails not once but twice in a matter of months (losing hundreds of millions USD in the process), it is time to look not at the newbie or the contract programmer, but the platform itself.

Re: Segwit2x Bitcoin Fork Suspended

#84

Earlier quoted context omitted.

Having too many forks makes it confusing for newcomers (and even hedge funds). So naturally avoiding a fork and keeping the community together is good for Bitcoin, which made the price go up.

The speculation prior was the the fork was driving people to buy BTC - hence the expectation of a correction.

on wex it went up as high as $7900 and as low as $7000 so it is still very volatile, I would expect more of a sell off as people who bought in hoping to capitalise on a fork now exit their position but this may also mean more risk averse investors will buy in now that there is no contentious fork due. so, as usual with bitcoin, no one knows what the hell is going to happen

Re: Segwit2x Bitcoin Fork Suspended

#85
post #14

So bitcoin went up because they were going to fork, and now it's going up again because they will not? k Edit: Otoh, looks like it's seeing a bit of a drop now, but I doubt it will hit the pre-anticipation levels.

Trying to explain Bitcoin price movements is a futile exercise.

Not in this case; it's actually pretty simple. There was anticipation of "free" coins after the fork, as there was when Bitcoin Cash forked. Price rose as people bought coins that would later be forked. Now it's cancelled, "free" coins are gone, so people see no need to tie up that money.

Re: Segwit2x Bitcoin Fork Suspended

#86
post #56
post #14

So bitcoin went up because they were going to fork, and now it's going up again because they will not? k Edit: Otoh, looks like it's seeing a bit of a drop now, but I doubt it will hit the pre-anticipation levels.

I guess people say all kinds of things, but I don't recall anyone arguing that Bitcoin was going up because of the impending fork. It certainly wasn't the conventional wisdom.

There was tons of discussion around the price and the fork. Why wouldn't the prospect of free money make it a sellers market? Bitcoin Cash fork brought Bitcoin holders 7-20% free coins.

Re: Segwit2x Bitcoin Fork Suspended

#88
post #70

Earlier quoted context omitted.

Doesn't Ethereum have its own problems right now?

Not ethereum, but one of the contracts written on top of it had a bug that some newbie triggered by mistake and locked something like $160M worth of moneys.

At the moment ethereum is its wallet software, if you cant write safe smart contracts then ethereum has no USP.

Re: Segwit2x Bitcoin Fork Suspended

#89
post #33

Earlier quoted context omitted.

> This is because it is more important what is in the message than who wrote it. not in this instance

> not in this instance not really. why does it matter that this message is authentic? that 2x _really_ isn't going to happen? it can still happen, and it doesn't matter who posts what online.

Jeff Garzik was the only author of btc1, the primary 2x implementation. For it to survive for any length of time, someone needs to step up and take over code maintainership.
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