Couldn't disagree more. IF, and its a big IF, UASF succeeds in forking off with any significant hashrate, big block miners will create their own fork and the two will compete on exchanges.
The UASF fork will be limited to 1MB and will be hashing at 30~35% current hashpower with the same difficulty. This means that they will only be creating blocks every 30 minutes instead of every 10, creating an even larger backlog and skyrocketing fees for users.
At the same time, the Bitmain HF will be mining with closer to 50% of the current hashrate and can make blocks as big as it wants. So all transactions will be added to the next block and fees will go back to pennies.
Given those facts, only one chain can survive and that is the big block chain. Bigger blocks =more transactions = higher price. You can count on that.
Each bitcoin would effectively be copied to both chains. If you hold your bitcoin private keys before the split, you will hold both 148 BTC and Legacy BTC after the split, the only thing is that the USD price of BTC may still be affected by this. Besides, we really are due for a bear trend, it's just the cycle of the market, it is not always sunshine and rainbows. There is still the uncertainty of the fork to go either way but time will be our judge but you are correct.
A chain split will be nirvana, but watch UASF back off from it because they know it will be a spectacular failure:
One 1MB constrained blockchain operating at the same difficulty but only 30% hashrate? Sounds like they'll get seriously backlogged while the big-block chain chugs along with fast tx times and low fees. It would make their defeat complete.
meep
Couldn't disagree more. IF, and its a big IF, UASF succeeds in forking off with any significant hashrate, big block miners will create their own fork and the two will compete on exchanges.
The UASF fork will be limited to 1MB and will be hashing at 30~35% current hashpower with the same difficulty. This means that they will only be creating blocks every 30 minutes instead of every 10, creating an even larger backlog and skyrocketing fees for users.
At the same time, the Bitmain HF will be mining with closer to 50% of the current hashrate and can make blocks as big as it wants. So all transactions will be added to the next block and fees will go back to pennies.
Given those facts, only one chain can survive and that is the big block chain. Bigger blocks =more transactions = higher price. You can count on that.
Each bitcoin would effectively be copied to both chains. If you hold your bitcoin private keys before the split, you will hold both 148 BTC and Legacy BTC after the split, the only thing is that the USD price of BTC may still be affected by this. Besides, we really are due for a bear trend, it's just the cycle of the market, it is not always sunshine and rainbows. There is still the uncertainty of the fork to go either way but time will be our judge but you are correct.
A chain split will be nirvana, but watch UASF back off from it because they know it will be a spectacular failure:
One 1MB constrained blockchain operating at the same difficulty but only 30% hashrate? Sounds like they'll get seriously backlogged while the big-block chain chugs along with fast tx times and low fees. It would make their defeat complete.