Coming Soon? Bitcoin Hard Fork? Anybody have recommendations?

Off Topic
#1

Has anybody looked at the chances of Bitcoin doing a hard fork soon, and options for actions?

I just received a notice from Bitcoin enabled company called Circle, which advises cashing out if you’re at all concerned about what might happen due to the decent chance of a hard fork.

This link suggests sitting tight, or at least getting your BTC out of an exchange: https://news.bitcoin.com/this-happens-to-your-coins-during-a-bitcoin-hard-fork-and-possible-blockchain-split/

But these are a little less favorable:

#2

It’s unlikely to happen. Less than 5% of the nodes on the network support “Bitcoin Unlimited”, any miners that try to mine outside the consensus rules will just be ignored.

It’s mostly people spreading FUD to pump altcoins.

1 Like
#3

That’s comforting.

So there may be other reasons to take your Bitcoin from an exchange to a local wallet, but fear of a fork may not be such a strong reason…

#4

Yeah, I always recommend holding your own Bitcoin. What’s the point of using a system that requires no trust, by leaving your money with a “trusted” 3rd party? :slight_smile:

#5

Quick update: The likelihood of a hard fork has dropped significantly in the last few hours, and it was already very low. The “Bitcoin Unlimited” client has had yet another serious bug, and in response the devs have made the software closed source.

I seriously doubt anyone doing anything of value will be running BU much longer.

bu_nodes.PNG1200×476 21.3 KB

Source: https://coin.dance/nodes/unlimited

Note the previous bug can be seen in this graph as the drop in nodes just a few days ago :slight_smile:

2 Likes
#6

hmm, that’s very Interesting…

#7

That source is biased, and didn’t mention that those 20 exchanges said they won’t list the BU fork without replay protection (the BU devs publicly refused to implement) and even then it would be listed as BTU, a new asset.

It also doesn’t mention how average users can lose money due to replay attacks, which is how a lot of people lost money during the ETH/ETC fork.