Even if B2X is worth a fraction of BTC, you would still need to find someone willing to give you USD for it when you settle the coin's value, otherwise its just a number floating in digital space (like most alt coins).
It's the exchange's job to connect the buyers with the sellers and the people who will be trading B2X on an exchange are the same people who trade BTC, literally the same.
Anyone who actively trades BTC will know this and as a result, we may see a dramatic drop in volume as traders stand waiting for the first person to make a move. This might result in a sell wall perhaps. Who knows since there is a considerable number of uninformed investors as well as a strong momentum behind BTC in general who are buying into a hurricane.
Now a big thing that plays into the value of B2X will be replay protection. Most users will be unaware of the fact that there is no reply protection built into B2X. For those who dont know, replay protection is when you prevent a single transaction from repeating itself on both the new and old blockchain.
As far as who controls which way the coin will fall, you certainly have it right that the hashrate will drop considerably on BTC when B2X comes online, but if no one trades BTC, it becomes a moot point.
Very difficult to predict which way the coin will fall until the investors start chatting. Personally, I'm thinking about selling all of my BTC investments and avoiding the confusion entirely.... I don't want to be involved in that mess.
Anyone else thinking about the same approach?
Sell BTC for altcoins.
I feel like ETH and other major alts will be main beneficieries in our cituation.
whos actually doing that? i still am holding all my BTC.
Not everyone likes to be at battlefield when guns start to blaze.
I personally know a few holders in hundreds of btc who are looking to sell. And a small btc fund too. They're still waiting for bitcoin to rise even more. I forecast the giant flow from btc to altts to reverce a few days before the fork.
This is my plan sell and wait for the dust to settle