Another potential upgrade to Bitcoin in November

TronTron Member
"in November, Bitcoin is expected to be upgraded again with the SegWit2x proposal, which should increase the block size in Bitcoin's blockchain from 1MB to 2MB. This will reduce strain on the network and make transaction fees lower, but switching to SegWit2x requires a so-called hard fork, meaning that Bitcoin is once again splitting into two, which could bring new trouble. "

Ref: http://mashable.com/2017/08/28/bitcoin-transaction-fees/#48Cv.w0ZUkqS

So there would then be 3 chains from Bitcoin - Bitcoin, Bitcoin cash, Bitcoin

But if this Segwit2x in Nov forces a hard fork, Bitcoin's chain would split once again and only time will tell which one will dominate. So those considering investing in Bitcoin might be better waiting, or buying now to have both coins in the event of a split. But even now there are few if any exchanges supporting Bitcoin Cash so it might be some time before the new currency would be adopted.

These upgrades are meant to address issues or transaction fee's and confirmation times, as of now isn't Bitcoin useless for micro or even smaller payments, event somewhat larger payments of $40-$50 ? and transaction confirmation times can vary greatly, so why would small businesses use this currency ?

Comments

  • and so we must wait for the november...so many hovering transactions
  • SegWit2x is likely to fail as it is far seen as a hostile takeover; growing number of proponents won't support it.
    It will be a lot more controversial than the BCH fork due to the nature of a hard fork.
    SegWit1x was a soft fork and grossly approved on, that was no problem.
    BCH was a project long in the works for bigger blocks; a sort of Chevy Vs. Ford preference debate.
    SegWit2x won't do much more, as a whole, SegWit is a joke.
    BCH is a better scaling solution but has very sketchy operators and is played by mining firms.

    Chances are that there will be another coin split but S2X will likely die off.

    I am neutral on the topic but I would rather not see a hardfork.
  • I have a very hard time to understand all this, technically as well as politically.
    What is the point of creating another currency with a split?
    There are over 1100 currencies already existing.

    Creating still another bitcoin will create confusion. It does not make sense.

    They should be able to find an agreement and make upgrades without any split.
    In my opinon, hard fork/split should be illegal and should never happen.
    The currency name should be like a trademark.

    If some are not happy with the currency, they just have to adopt another one or to start their own from scratch.

    What more will the new branch of bitcoin have compared to the BCH or Litecoin?
    I though that the purpose of the BCH was indeed scalability and to make the other side happy.
    How many different schools of thought exist in bitcoins?
    These people are really undisciplined for such serious matter, this is a zoo.
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