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RE: Bitcoin to new all time highs, hits equal legs target at 6124
"...200% extension at 6960, with significant psych just ahead at 7000..."
This is what I am looking for in the next 3 days, if not the next 3 weeks. Expecting a bit of free coin mania ahead of the forks followed by some dumping post-forks.
Shit yeah that would be nice!
I'd get out at 7 and try to get the dip back into 6.
Far from impossible either with recent ATRs - $500+ days becoming commonplace!
I wonder if it will dump afterwards? For example the last chain split was the start of the really, not the end of it!
Yeh, the last one dissipated everyone fear about chain splits - which was bullish. Then because of that and everyone who got free coins to dump we now have an over-correction with people expecting the same next time.
But I think Bitcoin Gold will flop and Segwit2x could get really messy, especially if the replay-protection doesn't get sorted out. Long term I'd rather be holding BCH.
Very true, we are at a very different stage in the trend-cycle now. I don't know much about BTC Gold, but I am sitting on mining gear that last I checked was unprofitable (NSW power increase and ETH decline pretty much fucked it).
As for BCH ... what is good about it? I'll admit I don't know much about it at all (I just sold it high and ran), but if I understand correctly it is just the old Bitcoin? Or does it actually have tech improvements?
BCH has larger block size so it can handle more transactions. This means transactions are also cheaper because there is no backlog. I don't expect it to really go well until BTC starts to bog down, but I think that will happen at some point.
PS - The next poster will probably claim Lightning Network will solve everything for BTC to scale but I'm not buying that BS story.
Ah yep that's right, but isn't the upcoming 2x supposed to do the exact same thing?
What are current fee estimates and transaction times on BCH for interest's sake?
2x only takes block size to 2MB. It was the originally proposed compromise with 90+% support (but before BCH was born) that may very well still-birth because the BTC core group won't support it and the big block factions support BCH. It is almost a legacy political compromise at this point.
That said, 2x is still smaller block than BCH. I don't know fees off the top of my head but transaction times are the same across all the Bitcoins. 10 mins per block.
Very interesting ...
Re: transaction times - if block times are always 10m and exchanges etc don't change their confirmation requirements that often, how come some Bitcoin transaction's take so bloody long? Is that backlog due to the smaller block size? Your send isn't included in the next block?
Pretty much. That's why BTC fees are so high. The higher fee you are willing to pay the more likely it will be included in the next block. You have to compete with others to get in the limited block space.