there's a lot of misinformation going around about segwit and segwit2x.
first, segwit2x isn't happening because the big blockers have already moved to bitcoin cash and another hard fork would kill the network. both r/btc and r/bitcoin agree on this fact.
second, segwit enables lightning networks, but those won't be available right away. so short term segwit doesn't actually speed up the chain much (it's estimated to be a 2x speed increase by itself). that speedup will evaporate in the next few months so it's not a scaling solution by itself.
as for lightning networks, they'll work like this in the future: first you buy some bitcoin off an exchange (most likely in the form of a smart contracts, which are in the bitcoin roadmap, so no government can pull KYC stuff) using some shitcoin like usd. the exchange is already part of a lightning network so you can get your funds and spend them immediately to buy stuff off amazon. however, it takes 2-3 weeks to move the coins into "cold storage" (which is roughly the same speed as physical gold so that's not too bad).
basically, all transactions any normie does happens instantly in an off chain smart contract that can't be fucked with by either party, then is settled on chain much later.
disclaimer: i'm long on eth/btc for about a quarter million dollars. i don't even like bitcoin and i'm literally shorting it right now but there's so much fucking fud that i felt i should set the record straight.
good luck bros, we will all make it. let's not fight among ourselves, all our coins can rise!
And along with that they have 80% hashpower. All the things that I can buy currently with btc uses one of those companies.
If 80% hashpower leaves then the chain get crippled and unusable for weeks.
It's sad but Segwit2x will win.
Jonathan Bailey
>$0.002 shekels deposited in your account goyim
Jaxon Williams
Do you not think that this provides a feasible scenario for the "flippening" though?
BTC fees and transaction times go up, and the fix that caused such a clusterfuck was not even enough to cover scaling until the end of the clusterfuck that resulted.
People begin to doubt BTC, because what happens if there are subsequent forks every few months? And if the Core devs fold and increase block size drastically in one fork, BCH will have been proved right.
Do you really think they can get smart contracts and/or another fork going quickly enough and without creating a FUDstorm?
I'm not a BCH evangelist type, but I'm curious about your opinion
Juan Turner
For ETH maybe. No industry leader/exchange is going to support BCH since it's a violation of NYA.
Alexander Taylor
sorry, what part was not clear? the smart contracts? bitcoin can do simple middleman stuff without having to trust a third party. it has to be very simple though. the difference between btc and eth is that with btc you can't have a for loop. this is by design because once you add for loops you lose the ability to predict computational bounds.
bitcoin is not a ponzi scam. it's a very risky investment though, i'll give you that. all bleeding edge tech is a risky investment.
Alexander Price
that agreement was tossed out like a prenup by a female judge
Josiah Sullivan
to elaborate further, there were 2 different agreements and both times the agreements fell through because of disagreements about if 2-3 weeks for an on chain transaction is acceptable or not.
personally, i like big blocks, and think everything should be on chain. even if the chain grows to petabytes you only need a few gigs to download and store it using some known crypto tricks.
Block pruning doesn't work properly for BTC and prevents you from joining the network as a full node.
Wyatt Reed
NYA?
William Adams
that will result in 3 different bitcoin chains competing to be the king. both core and the bitcoin cash team are not happy at all about it. i'm not sure how much adoption it'll get though.
John White
>our instructions follow this version of Bitcoin because over 95% of Bitcoin miners have adopted Segwit2x. If you are not running Segwit2x, your node will be on a dysfunctional minority chain when the base block size increases to 2MB.
Elijah Allen
95% of miners and every payment service is quite some adoption
Jackson Green
it's evolving technology. you'll need pruning eventually... think about 1000 years in the future. the whole hard fork debate has more to do with the billions invested in developing the lightning network and less to do with block sizes.
Gabriel Garcia
nice, just shorted 100k.
Nicholas Johnson
The New York Agreement, aka what started this shitshow for the 2nd time.
Industry leaders like Coinbase are attempting to revolt against the "Bitcoin Core" developers as a powergrab. Bitcoin Core is the development team which develops the protocol of Bitcoin, but the businesses built on top don't really like their approach to solving problems, so they're trying to launch a new development team with Jeff Garzik, a man who happens to be very involved with a company whose purpose is to provide surveillance tools of the BTC blockchain.
Basically, either liquidate or just dump all your money into ETH when BTC starts to tank. This one won't be pretty.
Luis Thomas
we might get 3 different bitcoin versions then! exciting times.
Brayden Perry
> here's a lot of misinformation going around about segwit and segwit2x
> first, segwit2x isn't happening
Dylan Nguyen
it's not happening on the chain we currently call "bitcoin" and core doesn't support it. there's going to be a third fork apparently.
William Brooks
Interesting. I hope ETH goes up, I'm already holding most of my portfolio there, because once this bickering shit hits the normie fan things are gonna get really interesting.
Luis Phillips
> core doesn't support it
Doesn't matter. Bitcoin is not Core's property. 90%+ mining power support it, along with the biggest exchanges and other bitcoin companies. Corecoin lost.
Aaron James
I plan on doing the same, although I moved 10% into LTC on the off-chance that memetomic swaps/LN give LTC a 20-30% boost during the SW2x drama.
ETH has a potential to double over the next year, but I'm waiting on a more favorable price to move back into ETH. Metropolis looks like it's going to create a lot of hype as we move into the 'ice age' and should be easy to make money off of
Logan Barnes
the problem there is that if core loses, all the normies who ate their propaganda will be bagholding at a 90% loss. that's most of this board right now. do you really see that happening?
Kayden Howard
> the problem there is that if core loses, all the normies who ate their propaganda will be bagholding at a 90% loss.
And why is this a problem exactly?
Brandon Brooks
because there's not enough entropy in the universe to encode the amount of BTFO that bitcoin maximalists would experience if their exponential chart stops rising forever.
if something's too good to be true it's probably not.
