Understanding Segwit2x: Why Bitcoin's Next Fork Might Not Mean Free Money

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This fork is about the block size limit upgade that was agreed to in the New York agreement. Many businesses signed that agreement, but core developers did not. We can see that with Bitcoin Cash. This coin is at times more profitable to mine. When that happens, lots of hash power switches to Bitcoin cash, making Bitcoin transactions slow.

The mempool with unprocessed transactions rises and it is impossible to get your transactoin through for a while. When Segwit2x does bitcoin 2x value implement replay protection, there will be a bitcoin 2x value for hash power directly after the fork. The coin with the longest block size will be called "Bitcoin" - which is the coin that has most hash power for a significant period of time. You bitcoin 2x value spend your Bitcoin because bitcoin 2x value so puts them at risk for also spending bitcoin 2x value on the second chain.

It is silently expected one of the parties will include replay protection at the very last moment. When segwit2x developers includes replay protection, the fork will be a standalone currency like Bitcoin Cash BCH. There could be a pump and bitcoin 2x value in price, as happened with BCH.

This is in a way free money. When the fork happens successfully and with replay protection, the combined price might be higher. What will happen to the Bitcoin price when Segwit 2x happens steem Created with Sketch. Sometime in november Bitcoin will fork into incumbent Bitcoin and Segwit2X. What happens when the fork arrives?

Some miners will mine the 2x coin. Maybe most miners, if mining that coin is more profitable. That is damaging to Bitcoin, so a price goes down. Replay Protection It is silently expected one of the parties will include replay protection at the very last moment.

Price up or down? When both chains fight over power, the price wil likely be lower. Nobody wins in a hash war. In either case, keep your coins off the exchange! Keep them in a private wallet. I am selling my Bitcoin before the fork happens. Authors bitcoin 2x value paid when people like you upvote their post.

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It's been an interesting past couple of weeks in the cryptocurrency market. When that was cancelled, the price plummeted. For a while, Bitcoin Cash looked like it would rise even higher.

The fact that its hash rate briefly surpassed Bitcoin certainly helped its rally. However, this didn't last. It's an interesting turn of events, and, to some extent, Segwit 2x may have something to do with it. Major exchange Coinbase has revealed that the hard fork isn't actually off the table at this stage. As it says on its blog, despite the fact that many players have withdrawn their support, Segwit 2x may still actually happen thanks to "a small number of miners.

If that happens, there are two things that can take place: The Bitcoin crowd could decide that Segwit 2x is worth supporting now, so everyone would move on the new chain.

That's the ideal scenario. The other scenario involves the creation of a separate chain that supports Segwit 2x, while the current chain continues to exist. It's pretty much what happened when Bitcoin Cash was created this summer, except the community is better prepared to handle the hard fork this time around.

Coinbase took some steps to prevent customers from running into issues , disabling Bitcoin transfers earlier today and turning that functionality back on shortly after. That applied to its trading platform , GDAX, as well. Coinbase says that, in case Segwit 2x leads to a new chain and if the network is stable, it will support it, and give customers access to their "Bitcoin2x funds. All three are up daily, with Bitcoin posting the biggest increase at nearly 6.

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