Segwit2X was never going to happen, this is a planned market manipulation and we've seen this type of thing happen before, albeit on a smaller scale.
The team behind Segwit2x and heavy supporters of BCH have basically played every single weak handed 'hodler' in Bitcoin. After BTC rose to new highs after the cancellation of the hard fork, these people took their profits and used them to pump Bitcoin Cash. They'll do the same thing with Bitcoin Cash when everyone floods in due to FOMO, and then they'll put their money back in the dipping BTC and make a HUGE profit.
Lets look at an argument made heavily on the bitcoin cash sub. They claim that Bitcoin Cash will actually replace BTC and take over its name, effectively becoming the new bitcoin. For this to happen, each exchange would have to unanimously agree on what the 'real bitcoin' is and the first exchange to switch their definition of bitcoin to BCH would be at least HALVING their customer base/trade volum e instantly. I say halving conservatively since I'd say a lot more than half of the crypto community are team bitcoin not team bitcoin cash. What business in the right mind would essentially fuck themselves by doing that?
Luckily they won't need to worry about such things since increasing the block size DOES NOT scale long term. The flippening will not happen. I'd be interested to hear any differing opinions. I think the miners who want BCH to be the real deal are underestimating that increasing the block size to 8MB will not prevent the dramatic slowing of mining once the mining space is oversaturated, like we've seen from BCH.
Open to any counterarguments, let me know what your thoughts are.
submitted by 
No comments:
Post a Comment