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bleedheart
2 года назад

Bitcoin Fork on August 1st - potential forks and impact

bitcoin-2007769_1920.jpg

There's a lot of mention that Bitcoin will be forked on August 1st.

Let's have a discussion regarding that. If you have an investment suggestion for the meantime, do not just post an image of a coin's icon on a rocket ship.

For starters,

Potential fork(s)

Because of transactions times and fees, Bitcoin's scalability problems are becoming clear. We can assume there will be one fork that is the original Bitcoin as is, and the other fork is Bitcoin with changes such as Segwit and Lightning Network.

We can discuss whether or not these changes will improve transaction times and fees, and the underlying drama on why these are so controversial.

Right now there's the idea that Bitcoin is becoming centralized now that hashing power (computing power) is becoming concentrated into dedicated mining groups since the average person does not have ASICs to have mining be feasible

Potential impacts on Bitcoin's value

Ethereum had something similar happen to it, which is the split between Ethereum Classic and Ethereum itself. Allegedly at the time, Ethereum for both cases lost a large portion of its value.

Reasons why Bitcoin will replicate the effects of the fork, and why it would not could be discussed.

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