Anybody else worried about bitcoin hard forking to 2 coins?

J

joker

Member
Some of you might not be aware but there is a split in the bitcoin camp on how bitcoin should scale. At the moment the bitcoin network can only handle about 3 to 7 transaction per second which is why many of us have to wait hours for our deposits to be confirmed. One one side you have the Core development team who want to upgrade to 2mb or 3mb using a SegWit soft fork. A more radical approach is being proposed by a team of devs working under the Bitcoin Unlimited proposal that would allow miners to choose the size of each block.

There is a possibility that if an agreement is not found, miners will simply split the network in two and there would be 2 competing bitcoins. This is a worry for me because if that happens then the price of bitcoin will plummet and so will the value of the bitcoin sitting in my sportsbook and poker accounts.
 
N

neet

Member
Yes, this is a big worry for anyone that has invested in bitcoin as a store of value. Most bitcoiners worry about bitcoin getting banned by the U.S. or Chinese governments but the real threat to bitcoin might actually be the community being unable to agree and eventually splitting. If there are 2 bitcoin and the supply doubles then it can no longer be considered digital gold and the price will probably drop back to $100.
 
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