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RE: Bitcoin Network Update - 19 December: Crisis is Here, Situation Is Going To Get Worse

in #bitcoin • 6 years ago

The last time Bitcoin fell and Bcash went up sharply, it reversed and Bitcoin went on a big up surge. What's the odds on that happening again? I'm not selling my Bitcoin, the problems can be fixed and I don't trust some of the people behind Bcash.

6 years ago in #bitcoin by
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     6 years ago (edited)

    Consider that:

    • Problem cannot be fixed. The most obvious solution was double the blocksize, and this upgrade was stopped. Segwith was promised as the solution, but its adoption is frozen so it isn't solving nothing. Last solution is lightning network, but is still is in test phase, a version for massive adoption is still far from now.
    • Situation in november was caused by the old bitcoin cash difficulty algorhitm, that has temporaneously stolen miners. When miners came back, situation turned to normality.
      Now, Bitcoin simply is slowing down because it is overheated. No miners scaping to Bitcoin Cash. The problem is that there are too users for the network. At the moment, simply bitcoin cannot handle this transaction volume.

    So in my opinion the solution cannot be 100% good for BTC. Bitcoin cash is mooning and this situation won't completley reverse back in a couple of days...

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       6 years ago 

      I think you drastically underestimate the resilience of Bitcoin. It could crash but then there's likely to be people buying at what they think is a bargain price. Bitcoin Cash doesn't have the same quantity of enthusiastic investors, its unlikely to ever pose a real threat to Bitcoin. If there was a real threat, I'm sure Bitcoin would sort its problems out fast.

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