Will Bitcoin Hardfork ?
We are moving closer to the August 1st 2017 deadline where Segwit2x could activate and with 76% of miners out of the 80% needed for this to happen it looks like we are going to reach that goal by the deadline.
What exactly does that mean ?
If 80% support is shown by July 29th 2017 it means bitcoin will go from a 1MB block to a 2MB block which will in essense double the amount of transactions that bitcoin can handle per block. It's a quick fix however a fix that also means around Auguest 14th. If 100% support is not taking by November 1st bitcoin will split creating a classic and a new 2MB block chain while classic runs on the original 1 MB block chain.
Give Me A Image
Coindesk put together an amazing infographic along with a recap of each possible senario and what could happen in each case.
Image from = http://www.coindesk.com/happen-bitcoin-visual-guide-scaling-outcomes/
so now that segwit all of the sudden gets like 80% support, I am wondering what the guys at BU (i.e. BTC.com) get in return. any ideas?
i think that segwit will activate and in return, the block size will go to 2mb - bitcoin won't split, price goes parabolic and miners and dev's will be happy
If it goes 80% that honestly would be optimal otherwise it goes into major uncertainty of what could happen over the course of the next two months.
80% pushes us to adoption of 100% by November 1st and the block size pushes to 2MB instead of 1MB effectively doubling the amount of transactions it can take per block. It would be a positive thing for bitcoin but only a very temp fix to fees and transaction times something else would still need to be done.
any suggestions on buying and storing bitcoin during and after a fork?
For myself I am thinking about moving it to ETH or another high valued coin till the dust settles on this one. But honestly I am not sure what will happen in the next few weeks so placing bets on just about any possible outcome.
There has been so much back and forth the last few days about if we are going to hard fork or not. Yesterday I read it seems unlikely now today it seems like it is a very real possibility.
So is a Hardfork similar to a Split when it comes to Stock?
Nope a hard fork would split the coin into two so you would have bitcoin and bitcoin classic for example you see this with Ethereum and Ethereum Classic they are two coins with their own block chains.
good info
As a store of value, people will support the chain/decision that will lead to a common consensus. Otherwise, it becomes a lose-lose situation.