The market got really excited about it for a second.
Oh man this fucking market
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I hope they get cancer and then the cancer catches fire and then they die in that fire.Some idiots are going to try to fork it anyways. Egos are inflamed (this was always about ego). https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000689.html
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Because the value of BTC is that it's the longest, oldest blockchain with the most hashing power. The idea of hard forking, at all, is heretical. There already was a 2MB HF which became Bcash, it never gained consensus, never took the Bitcoin name and is currently worth ~0.0884 BTC. This is about another attempt for fork BTC and hijack the Bitcoin name where it's both 2MB blocks and Segregated Witness (SegWit).I'm trying to understand the logic of this forking:
1. An increase to blocksize means that more transactions can be stored per block, lowering transaction costs for Bitcoin but also lowering the profit margin of the current whales/megaminers.
2. Lowering transaction costs makes Bitcoin more usable as an actual currency.
3. This would be a bad thing because...
People use transaction spikes as a trading indicator of people wanting to sell: https://jochen-hoenicke.de/queue/#1wHypothetically speaking, would transactions get delayed if a bunch of people cashed out all their bitcoins at once? Does that strain the network at all?