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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
Old 11-08-2017
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Default Segwit 2X Cancelled - Bitcoin Surges ahead

Looks like the Segwit2X Hard fork has been cancelled (Thank goodness):
https://www.coindesk.com/2x-called-o...ack-consensus/
A direct result is a sharp drop in the futures prices of B2X futures and a sharp increase in the price of Bitcoin which has already crossed $7800 and is currently at over $7700.
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  #2  
Old 11-08-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Woah, didn't see that coming. I would of thought it would still go through regardless of backing!

Good Shout.

P.S. Slightly annoyed! I was looking forward to free money. Though B2X are now worth a mere $248.04 (huge drop compared to their $4k high).

Last edited by Play; 11-08-2017 at 01:11 PM.
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  #3  
Old 11-08-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

You beat me to it... This is good.... I'm feeling better about my decision to go all in a few days back.

https://lists.linuxfoundation.org/pi...er/000685.html



"The Segwit2x effort began in May with a simple purpose: to increase the
blocksize and improve Bitcoin scalability. At the time, the Bitcoin
community was in crisis after nearly 3 years of heavy debate, and consensus
for Segwit seemed like a distant mirage with only 30% support among miners.
Segwit2x found its first success in August, as it broke the deadlock and
quickly led to Segwit’s successful activation. Since that time, the team
shifted its efforts to phase two of the project - a 2MB blocksize increase.

Our goal has always been a smooth upgrade for Bitcoin. Although we
strongly believe in the need for a larger blocksize, there is something we
believe is even more important: keeping the community together.
Unfortunately, it is clear that we have not built sufficient consensus for
a clean blocksize upgrade at this time. Continuing on the current path
could divide the community and be a setback to Bitcoin’s growth. This was
never the goal of Segwit2x.

As fees rise on the blockchain, we believe it will eventually become
obvious that on-chain capacity increases are necessary. When that happens,
we hope the community will come together and find a solution, possibly with
a blocksize increase. Until then, we are suspending our plans for the
upcoming 2MB upgrade.

We want to thank everyone that contributed constructively to Segwit2x,
whether you were in favor or against. Your efforts are what makes Bitcoin
great. Bitcoin remains the greatest form of money mankind has ever seen,
and we remain dedicated to protecting and fostering its growth worldwide.


Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik
Voorhees"

Last edited by nate; 11-08-2017 at 01:18 PM.
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  #4  
Old 11-08-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

That's exactly it - without replay protection it would not have been a 'free money' type of fork. It would have been more of a split that would have caused chaos to both chains and would have resulted in loss of trust in both.
Very happy that this is not going to happen.
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Neo could return to its September high of 37. My plan was to dump my BTC for Neo right after the fork. Looks like I got to take a gamble now.

https://coinmarketcap.com/currencies/neo/#charts
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Old 11-08-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

ouch btc dropping from all time highs... i knew this would happen. i'll probably buy back in at $7k, what do you think?
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Old 11-08-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

I think money will be moving into alts for a few days maybe a week, 7K is likely/possible, but I don't think it will go much lower than that.
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Old 11-08-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Well it went down to $7078 then bounced again.
Nice rollercoaster we're on at the moment.
Dont know if itll go that low again but who knows...
All I know (or rather believe) is that longer term (in Bitcoin terms of course) itll shoot up over $10k by early next year.
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  #9  
Old 11-08-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

If it goes back to 7.1k, i'll buy back in. I was debating whether to do it or not, but with things this volatile you don't have time to ponder. You've got to plan ahead!

$10k by end of Jan 18, easy.
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Quote:
Originally Posted by elmo View Post
I think money will be moving into alts for a few days maybe a week, 7K is likely/possible, but I don't think it will go much lower than that.
The money has been moving into alts since 11/5:

I hope it's not too late, but I would put all my money in the top 10 alts until the trend reverses.

BTC Price _ Coin Market Cap _ BTC Market Cap _ BTC PCT of market cap _ Alt market cap _ Alt PCT of market cap _ Date


7552 _ 201.0 _ 125.9 _ 0.626 _ 75.1 _ 0.374 11/05/17
7323 _ 198.3 _ 122.0 _ 0.615 _ 76.3 _ 0.385
7276 _ 197.3 _ 121.3 _ 0.615 _ 76.0 _ 0.385
7314 _ 198.0 _ 121.9 _ 0.616 _ 76.1 _ 0.384
7383 _ 199.5 _ 123.1 _ 0.617 _ 76.4 _ 0.383 11/06/17
7144 _ 196.1 _ 119.1 _ 0.607 _ 77.0 _ 0.393
7023 _ 193.8 _ 117.1 _ 0.604 _ 76.7 _ 0.396
7107 _ 195.5 _ 118.5 _ 0.606 _ 77.0 _ 0.394
7180 _ 197.2 _ 119.7 _ 0.607 _ 77.5 _ 0.393
7078 _ 195.1 _ 118.0 _ 0.605 _ 77.1 _ 0.395 10/07/17
7099 _ 195.9 _ 118.3 _ 0.604 _ 77.6 _ 0.396
7134 _ 197.0 _ 118.9 _ 0.604 _ 78.1 _ 0.396
7245 _ 199.4 _ 120.8 _ 0.606 _ 78.6 _ 0.394
7338 _ 201.3 _ 122.3 _ 0.608 _ 79.0 _ 0.392
7417 _ 203.0 _ 123.6 _ 0.609 _ 79.4 _ 0.391
7498 _ 205.0 _ 125.0 _ 0.610 _ 80.0 _ 0.390 10/08/17
7724 _ 209.2 _ 128.8 _ 0.616 _ 80.4 _ 0.384
7392 _ 205.8 _ 123.2 _ 0.599 _ 82.6 _ 0.401
7225 _ 203.5 _ 120.4 _ 0.592 _ 83.1 _ 0.408
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Anyone catch the buy wall of ADA Cardano at 313 Sats this morning? It went up 50% today before falling back to around 30%. That must have been in response to the news. But the order was never actually fulfilled. Not sure if this group was already staking ADA and did that purposely hoping the price would surge.

https://bittrex.com/Market/Index?MarketName=BTC-ADA
https://www.reddit.com/r/cardano/com..._430_btc_wall/

Last edited by duffrageous; 11-08-2017 at 11:42 PM.
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  #12  
Old 11-09-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Quote:
Originally Posted by Play View Post
If it goes back to 7.1k, i'll buy back in. I was debating whether to do it or not, but with things this volatile you don't have time to ponder. You've got to plan ahead!

$10k by end of Jan 18, easy.
Yep, you have to be in, for sure.

Bring ON THE new Year

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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

ADA is still going up. https://bittrex.com/Market/Index?MarketName=BTC-ADA

Alt market cap is still climbing while BTC has stabilized. I wish I had a breakdown by the top coins and group of coins.

80.0b 11/8
80.4
82.6
83.1
83.0
83.1
82.6
82.9
83.7
85.2
84.2 11/9
86.6
87.3

% of total market cap:

0.39 11/8
0.384
0.401
0.408
0.409
0.404
0.401
0.401
0.406
0.409
0.412 11/9
0.42
0.421
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  #14  
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

If you were in a bubble last night(sorry for not posting this last night), Bitcoin Cash(bcc) started to make a run while other alts started to slump along with Bitcoin(btc). The trend continued this morning down to about 6800 USD for btc before just now reversing. The trend could flip back any time now. It's a battle between the alts, BCC, and BTC.

https://bittrex.com/Market/Index?MarketName=USDT-BTC
https://bittrex.com/Market/Index?MarketName=BTC-BCC
https://coinmarketcap.com/
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  #15  
Old 11-10-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Quote:
Originally Posted by Play View Post
If it goes back to 7.1k, i'll buy back in. I was debating whether to do it or not, but with things this volatile you don't have time to ponder. You've got to plan ahead!

$10k by end of Jan 18, easy.
So you buying back in?
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Most of the money is flowing from alts and BTC to BCC plus withdrawals right now. This could be a nice correction.
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Sinking like a rock at the moment - about to hit $6,600.
Wonder how low itll go.
Good time for anyone looking to buy in to keep an eye on things.
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Old 11-10-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Good buying opportunity coming up.

I'll start buying at 6.5k.
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Old 11-11-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Quote:
Originally Posted by slokor View Post
So you buying back in?
I bought back in at $7.1k

It has gone down to $6.3k at time of writing but I think we'll see $8k by end of year (as I initially forecasted).

P.S. I don't think it will drop below $6k. The big correction was expected, although uncertain (hence why I bought back in quickly). Expected, because BTC increased 100% value in the space of a few months, which also shows it's potential.

Last edited by Play; 11-11-2017 at 03:50 PM.
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  #20  
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Quote:
Originally Posted by Play View Post
I bought back in at $7.1k

It has gone down to $6.3k at time of writing but I think we'll see $8k by end of year (as I initially foretasted).

P.S. I don't think it will drop below $6k. The big correction was expected, although uncertain (hence why I bought back in quickly). Expected, because BTC increased 100% value in the space of a few months, which also shows it's potential.
I agree wholeheartedly.
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Old 11-11-2017
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

Bitcoin price will be able to recover in the upcoming weeks. With CME Group and other major institutions planning the launch of bitcoin futures exchanges, a lot of institutional investors could be entering into bitcoin soon.

I read that 53% of yesterdays Bitcoin Cash trades came from the South Korean trading platforms. The majority of the remaining trades came from USD to Bitcoin Cash not Bitcoin to Bitcoin Cash.

The majority of the price correction is from the People that were invested in BTC for the air dropped coins from the Segwit2x split pulling out.
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  #22  
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Default Re: Segwit 2X Cancelled - Bitcoin Surges ahead

I believe people are trading their BTC and alts for bitcoin cash. Also, most of the miners have now switched over to BCH. Why would you mine bitcoin when the block difficulty is 10x BCH but BTC is now trading at only 4x BCH?

https://www.coinwarz.com/difficulty-...fficulty-chart
https://www.coinwarz.com/difficulty-...fficulty-chart

Look at the number of coins mined since yesterday afternoon:
BCH(millions) BTC(millions)
11/10 1600 ET, 2100 UTC: 16.779088 16.674362

GAIN 7337 963

11/11 1330 ET, 1830 UTC: 16.786425 16.675325

GAIN 3475 237

11/11 2100 ET, 0400 UTC: 16.789900 16.675562
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