Did You Know Bitcoin Cash Is About To Fork ?
Now that we have a few variations of bitcoin such as Bitcoin Cash and the most recent Bitcoin Gold it should come as not surprise that when these systems need to update they have to be hard forked as well.
While all intentions where good to try and make bitcoin better through bitcoin Cash and Gold and soon Segwit2x here is where the major issue lies. Whenever these blockchains need to be updated at the moment they need all miners and exchanges to conform to the new updated code all at the same time otherwise the blockchain forks and creates two, one that is the old blockchain and one that has the updated code.
Just 3 months after Bitcoin cash came out they are updating the code and could potential hardfork before bitcoin does on November 16th 2017 (Segwit2x) Bitcoin Cash hardfork looks like November 13th 2017.
This is exactly the reason right now you see bitcoin cash price rising and rising getting ready for this hard fork in which you would get two coins. Your bitcoin cash you have now and then a new one possibly called BCHL
What is getting updated in Bitcoin cash
- Difficulty adjustment algorithm is proving to be a major issue and is having a code update. This type of update does require a hard fork to take place.
The Markets Speak Volumes
There is honestly no reason for bitcoin cash to be on a upward trend at the moment and bitcoin to be down. Other then the fact people (investors) are banking on these hard forks.
Bitcoin Cash has been pumped to nearly $700 per coin again on the news of the hard fork happening before bitcoins hard fork.
What this leads me to believe is we will see a steady dip in bitcoin up till about the 12th 6 more days from now and then after the hard fork takes place a massive pump back into bitcoin which honestly could get us to the 10k mark we have been waiting on here for years end.
It's important to also note these are not good things. The only people getting wealthy off of this are those who hold massive amounts of bitcoin and bitcoin cash during these hard forks and actually take money out of the system instead of helping it.
From stick a fork in BCH to it forking so everyone wants it.
It seems like many are after the free money and writing themselves a crypto dividend.
Sooner or later, people will realize that each fork is having less impact. There will be a whole lot left holding the bag one of these days.
So this was the reason why BCH was rising so much lately, I was busy with work and did not had time to carch up with the latest news, thank you! By the way, you really enjoyed the Bitcoin Gold nameing, didn't you :))
Anything that hard forks off bitcoin I hate and see it as a parasite that just siphons money off the real asset which is bitcoin. I hope something can be done about these hard forks and bitcoin continues to get minor updates without going through a hard fork.
the forks give the lie to the 'btc has a finite issue of 21 million coins"
I am afraid that what you want is a hard fork that completly succeed as the last Ether hard fork. Unfortunately this is much harder than it Ethereum case, because the Bitcoin si much wide spread, and as there are many people involved, there is harder for them to agree
img credz: pixabay.com
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I feel like next we are going to hear that bitcoin forks are forking!!!
Great post - would like to get your thoughts on my latest episode of Crypto Nights @bitcoinflood
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Alex
lol, I feel like we are going down that path as well. Ever since ICOs got the kick and now hard forks (airdrops) are in I feel like we might be headed down the wrong path again of a bunch of scams hard forking the code.
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I wonder which coin will have the most value (say in USD) at the end of November, bitcoin cash or the segwit2x coin?
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useful post, thanks for sharing ..