October 9th, 2017
In my humble opinion...
Make up your mind!
— Zach Herbert (@zachherbert) October 8, 2017
Coin of the Day
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What is the fork that everyone's talking about?
Here's the lowdown: Bitcoin is potentially going to have a hard fork in November, which means that two blockchains for Bitcoin will run simultaneously. One would be Bitcoin (BTC) and the other would be Bitcoin Gold (BTG). This would result in not only two incompatible ledgers, but also two completely separate currencies - this is the same process that allowed Bitcoin Cash (BCC/BCH) to come into fruition. The split would allow for faster transaction times, decreased fees, and might make it more expensive for attackers to spam the network. Miners will have a pretty substantial change as well, and some are not happy about it. There are of course downsides to the fork. First, it would probably make it a little more expensive for individual users who are operating "nodes", AKA, an individual computer connected to the network. This would involve more bandwidth use, and could ultimately end up with a centralizing effect; something that many people aren't enthusiastic about. After all, if this fork ends up benefitting larger miners and mining pools, it could detract from the rights of the individual. So needless to say, there's some ~controversy~.
The anticipation of the fork may have tanked your altcoins today, so don't freak out just yet.
Did you have a minor panic attack when you saw all coins except the top 10 go into the red today? Yeah, so did we. But this is likely from the expectation of the fork as news about it continues to spread around. The whole situation is very contentious and many don't agree about what the right decision is. In fact, some people don't agree with the conception of Bitcoin Cash. Some exchanges will accept the fork, while others will not. What does this mean? You may wake up and find yourself with some brand spanking new crypto in your wallet one day - depending on which exchange you have your tokens in. Nonetheless, people are extremely divided on the topic.
1. People don't understand how much of a disaster this upcoming Bitcoin fork will be. Everyone keeps talking about "free coins"..
— Indiana Jones (@WaleEater) October 9, 2017
"Do you accept Bitcoin?" "You bet!" "Great!" *sends transaction* "Where's my money?" "I sent it!" "I'm on Fork 3B" "I'm on Fork 27A" "Shit."
— Jameson Lopp (@lopp) October 6, 2017
request to fork proponents: please stop giving us high-stress free money, we want to hodl Bitcoin in peace.
— Adam Back (@adam3us) October 7, 2017
Interested in learning the dirty on crypto forks? This awesome video will explain everything in under five minutes. Impressive.
Chinese investors are totally unfazed by the Chinese Government's crypto ban, which is actually very exciting to see.
Singapore plans to regulate crypto companies but not currencies themselves, which is a refief.
Coin to Watch
Bitcoin (BTC) is actually one of the few coins that's in the green this week, and depending on which side of the fork you stand on, it might be the best way to go.
— Jeffrey (@DaytradeJeffrey) October 8, 2017