/biz/ - Business & Finance

bitcoin is going to 5k starting tonight

screencap this if you like

bump cunts

one of you fuckers must know

>>2859907
There are plenty of explanations out there OP. You're just being lazy. It would have been more honest if you asked "redpill me on Bitcoin protocol debate plz"

Its over tainted garbage now sell now

https://youtu.be/l9yLZFTPMa4

All the other shills with their pumped shitcoins you better run better run outrun my bullrun

>>2859936
don't call me names fuck you do your own research you undereducated fucking retard

>>2859983
no shit I'm being lazy
doesn't matter, I'm watching a brother explain it on youtube

>>2859926

-Jeff

Sell all your ETH for beans
with memes like this
http://vocaroo.com/i/s0MIknNz4QKV
you can't lose

It's all a shit show, basically the miners have agreed on implementing right now some shit that allows to stuff more transactions into 1MB blocks (among other things) and upping the block limit to 2MB in November, we don't know whether the shit they're implementing now will work without issues, and some dudes want bigger blocks right now (among other things) so they're hard forking on August 1st, and some exchanges have disabled deposits/withdrawals because of all that shit, and there is also the core developers who don't want bigger blocks at all and who may stir some shit too, and meanwhile everyone keeps buying bitcoin because fuck logic

>>2860073
why are these chinkniggers who have literally the most to lose being niggers

>>2860038
So you've got two sides, one side is the Core developers, they DO NOT want a blocksize increase and have put out "Segwit" that would raise block capacity by 1.7x. The other side wants a flat out blocksize increase.

Miners were at a stalemate between the two for months and months, until the Core people started putting out clients that would lead to a soft fork towards Segwit.

Then the miners got together and agreed to run a non core, non big block client called Segwit2X as a compromise. If approved (it was), Segwit would be implemented, and blocks raised to 2MB in November.

Now, people are forking off with a hard fork on August 1, (UAHF/Bitcoin ABC client, mining BItcoin Cash), this will have big blocks and no Segwit (people disagree wether Segwit is a good thing or not, it does fucky shit with ALL previous transactions, slicing and dicing them up).

So we've got two, at the very least. Next up is the Bitcoin Core people, they are NOT FUCKING HAPPY about Segwit2X (the 2X part, mind you), and are planning on blocking the 2MB increase in November. So we very well have another chain split then.

-Bitcoin Cash, blocksize not a problem cause they have no issue raising it, no Segwit
-Bitcoin/Segwit2X, Segwit, blocksize raised to 2MB in November
-Bitcoin Core/UASF, Segwit only, blocksize kept at 1MB or lowered

>>2860083
there is no way this clusterfuck doesn't crash bitcoin

>>2859907
>Sold all your ETH when it was $7
>it went up to $400 and will be $300 again a few days
>Best decision of my life! hurrrr
fuck off

>>2860092
People are talking about preemptively dumping this split coin or that split coin, personally I'm holding my private keys to my chest and am hunkering down till 2018 at the fucking earliest.

>>2860082
Not all the chinkniggers are being niggers but some of them believe they will make more money on the short or long run by being niggers

>>2860083
Ok. So there is gonna be a massive shitstorm incoming. Why is there no mass panic and why isn't everybody shorting BTC?

>>2859907
>sold Eth before it went 4x
>btc before 2x
>best decision of my life

retard.png

>>2860106

it's a game of chicken. Once one whale blinks, the whole ocean is going to start draining

everyone trying to put on a brave front

>>2860106
Cause everyone was excited about Segwit2X LOCKING IN the other day because it looked like the civil war was over, completely ignoring that neither big blockers nor the Segwit/UASF camps were happy with it at all.

The miners were happy, and pumpers were happy. That's who /biz/ pays attention to, really. But we've got one fork guaranteed at the beginning of August (big blockers are just sick of this shit and forking now) and another in November looking increasingly likely the more Bitcoin Core says that 2MB will happen "when hell freezes over".

Really if anything, it's the UASF retards who caused this. Things were progressing towards a resolution, albeit slowly, until they threatened to fuck all kinds of shit up. Then the miners implemented a compromise amongst themselves to stave it off, and now neither side is happy with it and planning their own fork.

>>2860095
other way around you fag

Just remeber 1 thing anon - when /biz/ shills the fuck out of something for 2 weeks, run in the opposite God damn direction. Fact.

>>2860134
Yeah you pretty much summed up that mess. And now that the whole euphoria of the last few days have started to evaporate people are slowly starting to realize that the ground they're standing on is very shaky right now.

>>2860083
10/10 explanation, this is exactly what I was looking for, thanks anon

if you have an eth address I'd be happy to donate to you for clearing all this up for me

>>2860125
>>2860095
nice samefagging
I refuse to believe that two separate people both lack reading comprehension this badly

/biz/ pol
How many bitcoins will there be?
A) 1
B) 2
C) 3+

>>2860232
aww thanks. Don't give me too much though, I do genuinely enjoy helping people catch up on this stuff, cause it is a massive load of bullshit

0x6db3242f5237f21f135007736d8bbf9a995edfaf

>>2859907
>1. Bitcoin was being shit because of a block limit of 1MB, causing high fees and taking days for transactions to get through
>2. literally nothing else

>>2860246
50/50 between 2 or 3

the people who plan to hardfork for bigger blocks are retards
they didn't build the network that became popular, so why would they think that network would follow them?
The bigblock hardforks have amateur developers and untested code.

nobody in here is talking about the latency issue in increasing the blocksize, especially when their plan is to continually increase it
nobody in here is talking about the upgraded hardware needed to run a big block node, risking the decentralized nature of bitcoin
nobody in here is talking about how segwit2x is being pushed by a mining cartel with unfair advantages like asicboost and monopoly on chip development
segwit2x being pushed by know con artist craig wright, and shady figures like ver, being developed by unknown devs pushing their code untested

these hardfork plans are hilarious, they will never work

>>2860302
>segwit2x being pushed by know con artist craig wright

This alone shows how you have no idea what you are talking about. Craig Wright was advocating for splitting off from the SegWit2X chain almost as soon as it became clear it would win. He hates Segwit. He's basically the big-block, hardline anti Segwit cheerleader at this point.

Nevermind that Segwit2x was approved by almost all the miners in existence, including the ones allied with Bitcoin Core/small blockers.

Nevermind that Segwit has almost the same problems with resource usage increases, with a 400% increase in bandwidth needed for a 1.7x increase in available transactions. (Big blocks, otoh, offer a 400% increase in available transactions for the same 400% increase in size).

>>2860073
>>2860083
>>2860146
>>2860332
nice just bought 100k fiat

>>2860218
>>2860134
Let it fall.

>>2860083
2MB increase seems short sighted.

>>2860083
>>2860302

What actually happens during a "fork"? Is there 2 coins?

>>2860439
They didn't want to raise it too much, or the miners more aligned with Core wouldn't have approved it. Segwit2x is a compromise on all fronts really.

>>2860450
Yes, two blockchains. YOur private keys are valid on both.

>>2860375
thx for the bags

>>2860485

So can the values of the two coins change? If one gets dumped for the other, are you fucked?

>>2860553
Ya, they are different chains at that point. You can trade one for the other, dump, pump, trade futures, whatever.

So can we expect the price of BTC to dip as August 1st approaches because of this fork?

>>2859907
They think the way to accomplish mass adoption is to be able to mine it in a toaster oven.

>>2860562

hmm, very confusing. I use coinbase which don't even support the new coin I suppose. Gunna suck real hard if everyone dumps the one I have and into the new coin.

>>2860302

>core paidshill.jpg

>>2860092
Game theory says one side will eventually give in so as to save Bitcoin, everyone wants BTC to increase in value. No one wants to actually crash it.

>>2861040
The new coin is Jihan's shitcoin, Bitcoin Cash. It will likely meet the same fate as ETC, except even more of a shitcoin. Some are worried that Jihan will try and use his massive BTC mining stash to crash BTC near 08/01 as a way to push adoption of Bitcoin Cash, but that seems more likely an /x/ scenario.

>>2861329
This

and hence why I think the idea of BTC crash manipulated by Jihan is unlilkely. He has too much BTC to make the crash worth his time. It might end up costing him a lot more than he makes. More likely, he'll just try and push the coin really hard in China until he realizes it's not working, then give up on it.

Need we remember Bitcoin Dark?

>>2861381
>>2861387

So "normal" bitcoin is still king right? So when the fork comes, if you have say 1.0 BTC you will now have 1.0 BTC and some chinese shit coin? As long as I hold both I can't be fucked?

>>2860066
Nice, just sold 100k

ETH is going to surpass btc you faggot. Smart contracts are the future of trade.

>>2859907
>put all my eggs in one-
NICE LARP FAG

>>2861456
afaik it depends on where you hold it, because not all exchanges will carry both

So what does all this potential drama mean for eth and ltc newbies like myself?

pretty fucking simple, raise the fucking block size

people getting censored because there is low block space
fags need to learn blockchain better

>>2860302
CSW isn't pushing segwit2x

CSW wants nothing to do with segwit

miners have no latency issues stop bitching and work on SPV faggot

>>2860238
Believe it. I was on phone and not samefag.

YOU GUYS DON"T FUCCCKIIINGGG GET IT HOLY SHIT
GUESS WHATS GOING TO HAPPEN TO THE CHAINS THAT THE WHALES DONT LIKE

IM TALKING ABOUT PEOPLE WITH 100,000 BITCOINS

THEY ARE GOING TO FUCK YOUR CHAIN UP THE ASS

THERE WILL BE 1 WINNER MINERS WILL HAVE TO SWITCH TO STAY PROFIT ABLE

IF YOU ARE NEW JUST HOLD AND LOOK THE OTHER WAY< SHITS ABOUT TO GET FUNKY

pls sauce on op's titties

will give .0025btc to whoever delivers

>>2861741
tineye it

>>2860599
bump for this. I'm worried for my coins.

>>2859907
>Pass user since 2017
makes you think

>>2860134
>>2860218
>>2860375
>>2860511
FUCK DO I SELL MY BTC OR HOLD IM TIRED OF BUYING AT THE PEAK AND WATCHIGN MY SHIT CRASH TELL ME WHAT TO DO

>>2862745
it's not looking good for holders.

>>2862745

nobody here can tell you what's going to happen. history has shown btc's value has a linear increase with time, so i don't see why you would ever sell at a loss.

that said doesnt like you're cut out for the trading life m8

>>2862745
sell now. there's a good goy.

>>2859907
>sold all my bitcoin for eth back in february, best decision of my life

holy shit that was the absolute WORST decision of your life, you fucking donkey.

NOTHING IS GOING TO REPLACE BITCOIN. NOTHING. ITs all fucking garbage.

>>2860083
Why aren't they moving to a completely new asic resistant PoW? The big miners will spam the fuck out of BTCC.

>>2861329
> Game theory says one side will eventually give in so as to save Bitcoin
What your lil nice theory fails to consider is Core funded by Blockstream, so they could gain from their chain winning even if the price crashes hard.

>>2859907
mommy

>>2861486

>ETH is going to surpass BTC

I swear this board says the stupidest shit

Basically bitcoin will become even more centralized and even more in the control of the gooks

the wonders of a proof of work coin, am i rite

>>2859907
Sauce pls.

>>2860246
1

>>2859907
monday