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from what I understand it's getting adopted everywhere, but I don't follow it that closely
best ask someone more cryptosavvy
^Using blockchain to fund startups
Nice
One somewhat concerning thing though: whenever I see in the news a major institution getting into blockchain technology, they don't go on to say they are actually getting into Bitcoin or any of the other cryptocurrencies that are already out there. Instead they are looking to use the ideas of blockchain technology but not neccessarily any particular implementation out there. That makes holding any particular cryptocurrency a risky(-er) proposition.
@ThisIsChris this article doesn’t talk about blockchain, it talks about the crypto currencies themselves.
That said, companies that talk about getting into blockchain often don’t understand the purpose of a blockchain and nothing ever comes of the project. Currency is one of very few applications where a blockchain is worthwhile.
Holding a particular crypto is the only sensible move, IMO.
@Tanner - SC nice! I missed that part, I skipped to the Fidelity Labs thing
Just because some people with money are throwing it at blockchain projects does not mean they will usurp the top crypto currencies. That’s placing far too much faith in figures of authority and far too little in the invention of bitcoin itself.
Explaining the BCH hard fork:
• “Bitcoin Unlimited” software developers are releasing a fix for the most **pressing** bottleneck in BCH’s transaction capacity
• “Bitcoin ABC” software developers are releasing a fix for the most **complex** bottleneck in BCH’s transaction capacity. One that won’t be experienced for more than a year from now. Doing it now because later on that will be near impossible.
https://youtu.be/7wSFlyG-TY0?t=1518
@Tanner - SC it seems straightforward to fork a blockchain, but is there any way to merge them?
@ThisIsChris No, hard forks are permanent. Once hard forked, different accounts have different balances of currency in them.
From reddit <https://reddit.com/r/btc/comments/9uo4ti/above_600_now/>:
> I'm afraid it's a pump and dump spike based on the fact that there may be a hard fork. The BTC/BCH fork in August 2017 has given a lot of investors the hope that that may happen again.
During the BTC/BCH fork, users who held BTC received essentially “free” BCH that they could sell and therefore end up with *more* BTC.
Just got caught up on some of the discussions here. Nice to see some fellow BCH people @Tanner - SC
@Tanner - SC any idea why? people finally realizing BCH is the superior blockchain?
BCH hard forks tomorrow morning. Everyone is going nuts because of the uncertainty.
@Tanner - SC right I meant BCH sorry sorry, but that's good to know thanks for the info! Anything interesting about the hard fork?
Most interesting thing IMO is the buy opportunity. I love dramatic events like this.
It’s the most exciting, wacky, wild-west time in Bitcoin’s history tomorrow
It might very well be the best purchasing opportunity ever for BCH. However I expect the uncertainty will last days, if not months @Tanner - SC, unless Craig and Calvin are bluffing
@Alexander Pechorin good, I prefer buying windows of months rather than days. This reminds me of when Silk Road got shut down. The price tanked hard, but only for a few hours. I bought heavy in that window.
I don’t have enough money to buy all the BCH I want to buy!
Idk I’ve not been in crypto a while
I’ve lost money so I don’t want to lose more
https://cash.coin.dance/
Economically when a hard fork happens, the USD price on the original blockchain gets split between the two forks (so long as the market demand stays the same) plus there is an implied volatility premium for the cost of speculators looking to make money on fast movements after the fork. The two forks "fight it out" for who gets most of the business from the old blockchain. As this fight settles and "the winner" becomes more clear, the implied volatility premium decreases, so if market demand stays constant over all this time then the sum of the prices of the two crytocurrencies steadily decreases over time.
So if crypto XYZ is worth 100 dollars when a hard fork called XYZ2 happens, then so long as market demand stays the same then the USD price of XYZ plus USD price of XYZ2 should equal 100 dollars plus the premium of the implied volatility as the two block chains compete to win. This implied volatility premium will diminish over time as "the winner" becomes more clear so that in the long run, assuming market demand stays constant, the sum of the prices will go back down to 100 over time.
It will be curious to see whether the market will trust bch/bchsv again now. Volume appears obscenely low on both chains, though that’s not exactly surprising given the remaining uncertainty