🤑 Coinbase and Segwit2x Hardfork InboundsteemCreated with Sketch.

in cryptocurrency •  27 days ago

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A few weeks ago I wrote in about how ICOs where out and now airdrops or (hard forks) are now in. This is a way for coins to be created and not go through the ICO which is now banned in both the USA and China. While bitcoin cash did fairly ok it still shows a huge lack of support to an alternate block chain then bitcoin. Bitcoin gold failed horribly and soon we will be running into Segwit2x.

Normally Coinbase issues a firm stance that it will not support any hard forks which was present in both bitcoin cash and bitcoin gold. However they seemed to be flipping on this Segwit2x proposal showing how serious of a hard fork this could be. While bitcoin cash was a decently epic hardfork launch I believe Segwit2x will now be 10x what bitcoin cash was in terms of news and possibly value.

Running up to the days when this takes place myself and others believe this will hugely drive up the price of bitcoin before the fork happens and perhaps even land us at that 10k by years end as some have predicted.

What exactly is Coinbases stance on Segwit2x ?

Lets just say even after two blog posts (the 2nd that was suppose to clear up confusion) that the confusion still really remains! (thanks coinbase 😛 )

Their official statement says they will reference both coins when the fork happens bitcoin and segwit2x as B2X and after a given time will determine based on stability and mining difficulty what coin will be claim the title "Bitcoin"

This statement honestly send a bit of fear down my spine as it almost shows how Coinbase things they are the ones to make the calls now instead of the true bitcoin developers. In all respect Coinbase sounds like a greedy bank with that type of statement.

What is clear though is we will get two coins this time around at Coinbase but whether or not you can trade, buy or sell them once this hard fork happens remains to unclear.


# My Opinon

After segwit2x clears these hard forks need to stop and or at least stopped getting so much news. If these continue they will happen more often and at some point cause so much confusion or liquidity out of bitcoin that the price will collapse.


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All of this drama, animosity and bullshit because of a badly-needed, measly 2mb block size upgrade?

After spending several years in cryptos and watching the bitcoin scaling debate unfold, I now understand why the world is the way it is!

Big gobs of money do funny things to people's values, morals and ethics.

Seriously! Enough forking around!!!

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lol I am right there with ya these where planned for a few months so I am ok with segwit2x coming up but after that 100% agree they need to stop and bitcoins core developers need to show us a clear path for the blockchain.

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this is seemingly an inherit issue with blockchains, right? Since they are based on consensus, you can have a large percentage of people get together and make changes.

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Depends on how the blockchain works not all work in the same way bitcoin does with ASIC miners. However controls the most amount of mining power can dictate how they want bitcoin to run if they took 51% control. It use to be more of an issue back in the early years of bitcoin.

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haha that very punny!

Wait ICOs are banned in the US?

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Yup or so close to it that you seriously don't want to get mixed up in it. Just do a google search on it and you will see the plethora of reasons why not to get involved if you live in the USA. Also most new ICOs will block USA IP addresses and not even allow you on the site.

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Wow yeah thats crazy, it's not so simple.

Funny thing i came across - this guy's got the right idea:

"On the other end of the spectrum, there are ICOs like Useless coin which started as a joke by someone who goes by “UET CEO” and was sold as transparently offering investors “no value, no security, and no product. Just me, spending your money.” It should have just been a satirical comment on the precarious nature of ICOs, but it still got some investors and currently has a market cap of about $64,000."

https://gizmodo.com/what-are-icos-and-why-are-they-getting-banned-in-china-1800922340

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If you have internet (and know what to do) you can do whatever you want, from all countries.

Good job.go ahead my friend.

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Im looking forward to SegWit2x to see what it brings to the market 👍🏼

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There will always be winners and losers. Bitcoin may eventually be the loser, but this is what happens in a free market. People can make whatever "improvements" they want.

I agree there needs to be more education out there on crypto, but I don't think forks are the enemy.

Calling @originalworks :)
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Nice, you got a 8.0% @minnowbooster upgoat, thanks to @bitcoinflood
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I can't wait to see what it will bring to the market.

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I'm going to pick up alt coins before fork. And let the bitcoin this and bitcoin that be.

I definitely agree with your points and think that forks are being used in the way ICO's used to be, however some of them are needed to improve how a coin works for its investors. Saying that though they must be clear on what they want to happen after the fork is done and can't just keep doing them cause it will water down the value as you noted. I will be putting my bitcoin holdings into coinbase in order to get an equal amount of B2x. I am hoping I will be able to exchange that extra into another coin, but we will see. Thanks for sharing!!