There will be a 2nd Fork, Bitcoin Cash more profitable to mine and the Chain Death Spiral (the "REAL" Bitcoin)
The scaling debate is not over, in fact the more i read the more it looks like it has only begun. Segwit 2x looks to fork Bitcoin... AGAIN.. Virtually the same "upgrade" that led to Bitcoin cash's creation is set to happen again with Segwit2x implementation (this time its not about block size). At block 494,784 miners can choose to run the new Segwit2x software. This is expected to occur sometime in November.
https://steemit.com/bitcoin/@squatee/segwit2x-developers-set-date-for-hard-fork
https://www.coindesk.com/full-steam-ahead-segwit2x-reconfirm-bitcoin-hard-fork-plan/
Today we also learned that $500 Bitcoin Cash has become more profitable to mine than Bitcoin. This is not to say it will always be that way but for a brief period at least, it was. This of course makes mining the Bictoin Cash chain more appealing pulling miners away from the BTC chain. With a growing backlog of transactions this is not what anyone wants.
https://www.coindesk.com/bitcoin-cash-closes-profitability-parity-original-blockchain/
Which brings me to the worst of it... I found this on a crypto subreddit, Basically it claims that Bitcoin Cash is the REAL Bitcoin and soon the "original" Bitcoin network will spiral out of control because of a vulnerability in its difficulty adjustment. You have to read it for yourself, just ignore the hints of conspiracy. basically its terrifying:
http://bitcoinandtheblockchain.blogspot.com/2017/08/chain-death-spiral-fatal-bitcoin.html
http://bitcoinandtheblockchain.blogspot.sg/?m=1
All of this information i have found in my travels, i am trying not to make any assertions (i hope i haven't) and nothing in the future is 100% certain (like the chain split) even if it looks very likely. As always i am very interested in your feedback! If anyone has information on the topics covered today please share and if you found this useful at all please upvote and follow for more!
The only constant throughout the entire universe is CHANGE. It literally applies to everything. Cryptos are no different. Good post :)
It makes my love for Bitcoin become a hate. They had such a good thing going...all these fights and forks aren't good for anyone in the long run.
so true :( talk about brand confusion
Yep we have full scale war for one true Bitcoin. There can be only one. Or no one.
Bitcoin cash is the original Bitcoin now in a Robin Hood outfit. My prediction would be the moon belongs to Bitcoin Cash and Bitcoin is going to die as there is no knowledge of the amount of btc left available.
Bitcoin Cash is tracked making it a coin worth balancing the crypto world on.
Btc and the next fork is smoke and mirrors to kill off btc.
Only my veiw make your own mind up as always 😁
Harry
Oh I am seeing a shift in the force.
nice! interesting concept :D
BCH had problems with the difficulty, they adjusted and maybe over compensated. BTC still has value and I think it has years before something replaces it. That said, maybe I'm wrong, has it already been replaced?