Bitcoin forks after fork, splitting into Bitcoin and Bitcoin Cash
The fork of Bitcoin is a reality and what was already planned by Bitcoin Core has happened, the bifurcation of Bitcoin, now having in the market the classic Bitcoin and Bitcoin Cash, a new cryptocurrency.
Today we witnessed a historic moment in the cryptocurrency market, with the Bitcoin hard fork occurring at approximately 14:20 PM Spanish time. Bitcoin will continue to exist, and the fork has created Bitcoin Cash (it's unclear whether it will be BCC or BCH). When the hard fork began , trading in all cryptocurrencies on the market was suspended, preventing the transfer of these cryptocurrencies or even their exchange for other assets on the vast majority of exchanges. This situation is still ongoing and could last for several days until everything returns to normal.
If you follow us on Twitter, we have told you live the most interesting about this moment, seeing how at 14:33 the Bitcoin activated the BIP91 in block 477120, a little before this activation, SegWit had been activated, specifically in the block 439488. These movements, despite the blockade in many Bitcoin exchange houses, have generated a curious situation and that is that Bitcoin, at least in Poloniex, would have lost more than $ 150 in value in minutes, something that is practically recovered right now.
An hour later, approximately in block 478484, the BIP141 had been activated, but due to the latency it took a while to reflect said activation, what's more, this happened at 14:42 p.m. and at 15:30 p.m. the activation of the same. Right at the point of the BIP141, we have seen how nodes were activated, going from 300 nodes at 14:25 p.m. to more than 9000 nodes at 14:48 p.m. and right now the nodes give Bitcoin, something that did not happen before, That is why many users have chosen to create a node and earn extra income.
The effects of this have not been long in coming, Bitcoin going from more than $ 2800 at 14:00 p.m. to $ 1700, even selling some coins for $ 1600. The situation has been so crazy that Bitcoin Cash, which was only active in ViaBTC (it was in another pool, but ViaBTC had more than 99% flow), has exceeded $ 450, reaching the value of 0.15 BTC per house Bitcoin Cash. This has also benefited Ethereum and Zcash, which after the fork have risen by more than 10% in their value, registering significant gains for users.
Currently the situation, after the initial stress, is quite calm, since Bitcoin Cash or rather Bitcoin ABC is currently inactive due to operations in it and it may take a few hours to return to activity. Right now the fork is not complete, something that will become official when Bitcoin Cash or rather, the nodes of this cryptocurrency, are active. Poloniex, which said that it would not support Bitcoin Cash, will be forced to add it, since users who have Bitcoin will automatically receive the same amount in Bitcoin Cash, so they will have double the capital, something that will be automatic.
So, when the price of ethereum and zcash is supposed to go up as some users speculated (which could go as high as ($ 1000)
We are still in the early hours, everything is uncertain and Bitcoin Cash is beginning to be implemented and mined. The rise should be in a few days, if it really happens, of course.
Is this possible rise also valid for other altcoins of "lesser importance"?
It is probable
But in the end those of us who had BTC in poloniex are going to give us Bitcoin cash? In hitbtc they have already been given to me.
They are obliged to implement Bitcoin Cash, what we do not know is how long it will take, because the coins correspond to the users.
I hope this all goes wrong and cryptocurrencies go to hell. I want to get a RX580 now, to play, for what they are.
The most stupid and ignorant comment I have heard in a long time and look at the nonsense being said.
Something stupid it is, but don't insult yourself kid. Little by little you will stop talking nonsense