The Big Long - Bitcoin Potentially Entering Critical Phase - 11/01/17
It appears we are entering a crucial phase of the crypto bull market. The segwit2x hard fork is scheduled for Nov. 16th. At that point, bitcoin will have effectively split into 4 separate chains, each with its own parameters that could not be agreed-upon for one continuous chain.
At this point in time, bitcoin cash + bitcoin gold + the original bitcoin chain has a market value of $7,368 for one coin on each chain, all combined. I suspect we may see a final hard fork incorporating all parameter changes associated with each chain – a block-size limit increase, a new proof-of-work algorithm, and segwit. Time will tell.
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If we do in fact see a mega-rally towards year end, I will attempt to keep everyone up to date on the twists and turns as best as I know possible. This will be tricky, given the chaotic nature of the bitcoin hard forks and the dynamism this rally has already experienced.
Disclaimer: None of this is advice of any kind
This is all i'm worried about at the moment.
Don't hesitate to checkout my blog, i'm new here, so having your advise and your support can only be super great for me.
Thank you for this your work @helikopterben.
What is your take on alt coins? Will Bitcoin lift all the boats or suck the living life out of them?
(I suspect the latter under mega rally scenario)
I think a superior POS, smart-contracting system will eventually supercede bitcoin. Right now the front-runner looks to be ethereum. The winner will most likely have sufficient security through decentralization in conjuction with enough scalability to handle the better part of the global economy. That trade-off will be the tricky part.
This may sound crazy, but the easiest setup (for me atleast) is if we ripped past 9k before Nov 16th (to get all the 10K talk stirring) have segwit hit, sell the hell out and watch BTC collaspe back to 5600 at which point I buy.
maybe its already to late to sell after the fork has applied =P . what if its like a HUGE worldwide power failure (EXCHANGES DOWN WORLD WIDE)to stop all the crypto owners from selling and just force us to watch the TITANIC SINK.
Markets tend to do crazy things more often than not, so this could overshoot. The Nov. 16th hard fork could definitely be a sell the news event. I have been selling bits and pieces all the way up. Trying to hold out for a true tend change... and coins on both sides of the fork.
Personally I value a bearish scenario also on the $ 4800 on the MONTHLY S1 support
thank you pilot! im following for upcoming intresting news.