Nearly $2 billion has been wiped off bitcoin’s value in three days all because of a fork
From CNBC
Just under $2 billion has been wiped off the value of bitcoin in under three days as a fight over the future of the technology underpinning the cryptocurrency wages on.http://www.cnbc.com/2017/03/17/bitcoin-price-blockchain-fork-ethereum.htmlBitcoin was trading at around $1,142.60 at time of publication, giving it a market cap of $18.53 billion, according to CoinDesk data. This is down from highs of $1,255.32 on Tuesday, which valued the total bitcoin pile at $20.36 billion.
Meanwhile, rival cryptocurrency ether is up over 84 percent from highs of $29.87 on Tuesday to trading at all-time highs of around $55 on Friday, according to Coinmarketcap.com. The market captilization shot from $2.68 billion to $4.95 billion. It is the only other cryptocurrency to be valued at over $1 billion.
Much of the inverse price movement stems from traders' worries over the future of bitcoin and the underpinning blockchain technology.
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The funny part is it can come back just as easy as it left. I think people are getting a little to worked up pretty sure its not sure as fire it will fork. I think its just a list of exchanges saying they will add it if it happens.
At least that's how i understood it.
I think you're probably right. It's a buying opportunity for sure.
Gotta love it when people who don't know jack about what's going on sling words they don't understand. In this case the threshold isn't 50% and even when it activates there is a lead time. Then only miners who choose to remain on the inferior fork would be rejecting valid blocks.