Bitcoin Gold has successfully forked and is now actively being traded on the markets. In this episode, we look at the results of this fork and also the upcoming fork: Segwit2x.
0:42 Market Recap
1:35 Bitcoin Gold Launched
4:57 Segwit2x Fork

Segwit2x Overview: https://medium.com/@jimmysong/segwit2x-what-you-need-to-know-about-the-2mb-hard-fork-27749e1544ce

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38 replies
  1. Escape the Matrix
    Escape the Matrix says:

    You hit it on the head – these forks are very much money, and power-grabs! These people care nothing about Bitcoin, and how it can change the world, they care only about enriching themselves. The scum would be better suited to be on Wall Street, and not part of the BTC/crypto community. Eff them all!!

    Reply
  2. MineAllDayAllNight
    MineAllDayAllNight says:

    I'd encourage you to try and look at this Segwit2x thing objectively. Also spend some time and read the Bitcoin's whitepaper and understand Proof of Works role in Bitcoin. Don't look at this in the partisan eyes of 1x vs 2x debate. Look at this in regards to how Bitcoin works an how it resolves consensus disputes. Miners do not control Bitcoin, neither do developers or the central entity of Core. That's the whole point, no one controls Bitcoin! It's autonomous! Bitcoin works because proof of work is used to resolve consensus disputes…

    Coinbase never reversed the statement. They're doing the same thing every exchange will whether they admit it now or not. Listing BTC as the chain with the most POW in the end game is what all exchanges will do even if they deny it now. This is because Segwit2x is an upgrade attempt it is do or die. Difficulty will kill the minority chain. That chain might be 2x, it also might be 1x. The market will call it in the end as miners fallow profits. Proof of work fallows the market more so than the market fallows proof of work.

    Both chains will only exist at time of fork while the consensus dispute is resolved. Soon after expect one to die. It doesn't change difficulty algorithm (like BCH did) neither 2x nor 1x are capable of surviving as a minority chain. After 2x forks on both chains 864 blocks must be solved to readjust difficulty. After that window is hit 2016 blocks must be solved to adjust difficulty again. If say only 5% of the hashrate exists on the minority chain it means it'll take 4 months for it to retarget and be 10 minutes. An absolute minority chain commits suicide and succeeds to an absolute majority chain unless there winds up being near profit parity on both chain to make an evenly enough distributed hash rate viable between difficulty readjustment windows.

    Reply
  3. Clemens Steinbauer
    Clemens Steinbauer says:

    I support 2x to be the original bitcoin, because it does everything bitcoin does, only better, 2mb blocksize instead of 1 mb, and both being segwith enabled, i see no reason, why the original bitcoin should remain that title

    Reply
  4. Zycho
    Zycho says:

    I hope bitcoin will survive these rotten corrupted forks, i hate them. But the real problem to me is that it needs to move to proof of stake. Proof of work a waste of energy and extremely polluting. But the centralized miners will never allow that.

    Reply
  5. Origin Tokyo
    Origin Tokyo says:

    Segwit 2X are Hijackers and btc terrorists… destroyers of the bitcoin BRAND… the sooner the bitcoin community understand that bitcoin is now a BRAND name [not a Satoshi white paper any more], and that their infighting is devaluing it, creating confusion for the crypto ecosystem, the better… we don’t need bitcoin to be a daily transaction currency… we have other coins for that now.

    Reply
  6. kokolorenz
    kokolorenz says:

    Bitcoin's proof of work concept is such an enormous waste of electrical energy and thus so bad for the environment. Why is nobody doing something about that? That would be a real good reason for a fork and for a change.

    Reply
  7. Jay Marcum
    Jay Marcum says:

    I dont care which side wins. Sure block size inceeases in the future no matter what right, so why do it now? Well why not do it now? Keep this up and bitcoin=bitcoin2x=bitcoinsilver=bitcoingold=Wi Coin=0

    Reply
  8. Fuzzi_Logic
    Fuzzi_Logic says:

    2x

    It's a $ grab either way. However, 2x will make Bitcoin more useful TODAY.

    Preventing scaling today only serves to push the lightning network, which is going to be a highly-centralized, difficult to use solution – which is just intent on shifting fees away from the miners towards large institution-like hubs.

    Let's be honest, It's not about 'best developers' and ideals… it's about $… I rather keep Bitcoin as Bitcoin was intended to be. If blockstream is so narrowly-focused on making Bitcoin's mainnet a settlement layer, let them create their own alt. That was never the intention of Bitcoin.

    Reply
  9. The Pman Van
    The Pman Van says:

    I don't want corporations running bitcoin. No2x. I have only been In bitcoin for a couple of months but getting worried with all the crap. Thinking of getting out and wait and see what happens. I have too much money at stake to let a couple of idiots take it all away.

    Reply
  10. Chris Golas
    Chris Golas says:

    Please cover the reddit stream that exposes segwit2x as the big bank takeover. The code for segwit2x allows in middlemen into the transactions, defeating the whole purpose of bitcoin.

    Thanks again for the awesome videos!

    Reply

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