Bitcoin Forks Halving Epic Fail:
Fork Block Rewards Halved, Barely Anyone Noticed
The halving that matters is a little over a month away. Sometime in mid-May, Bitcoin block rewards paid to miners for discovering new blocks will drop from 12.5 BTC to 6.25 BTC.
This week, Bitcoin Cash (BCH, formerly known as BCHABC) and Bitcoin SV (BSV, formerly known as BCHSV) went through their first halving events.
They both enjoyed momentary bumps in price, by about 11 and 19% respectively. Those gains were fairly immediately wiped out, however, with their reward halvings failing to have a lasting price impact.
In fact, the ABC halving resulted in a dramatic exodus of miners. Block 630,000 triggered the reward halving to 6.25 BCH on Wednesday. It took two hours for block 630,001 to be mined. The speed of BCH is 116 transactions per second. That fell to 1.11 TPS.
The slump in network activity was predicted by Coin Metrics:
When Bitcoin Cash and Bitcoin SV halve their block rewards, this should force miners to direct even more hash power to Bitcoin as it will still have a 12.5 native unit block reward (instead of 6.25) for about a month longer.
https://magazine.cointelegraph.com/2020/04/11/bitcoin-forks-halving-epic-fail-moon-lambo-nailed-it/Last I checked btc also halves soon - and very 4 years again, but has no on-chain capacity - not even for linear growth
COVID 19 shows very hefty what happens if you dont plan for (excess) capacity - going viral
epic fail - segwit hail ?
Even though you, hv_, have concluded that bitcoin is insufficiently prepared for exponential growth of adoption (implying that there is something deficient in regards to bitcoin's ability to voluminously transact), your conclusory nonsense has largely supported that bitcoin's security remains prepared for exponential growth in securing value. Therefore, if you look at various other aspects of bitcoin including hashpower and tendencies for hashpower, mining, nodes and other infrastructure, such as various second layers, are studied and built around bitcoin, you should be able to recognize that bitcoin is currently prepared to secure even another 100x in BTC's value.
Sure, with another 100x increase in value, from here, BTC's system might start to show over-extension and that it needs to build and develop more, but that seems to be how bitcoin works. There is a kind of back and forth building and hyping up and more building and hyping up, so yeah there are bottoms in there, too, but the bottoms seem to be going up as well as the tops, and I doubt that any of that is going to be true in regards to either of the bcashes. Both of the bcashes are continuously changing their narrative and trying to attract onchain capacity, but no one really trusts either of those shitcoins because their support and security is astroturf at best... which does not appear to be the case with bitcoin.
Yeah, we will see in the coming months, and may even take a couple of years, whether bitcoin experiences another exponential growth period and to find out if bitcoin is able to secure value that is likely going to be pumped into it, in exponential ways, in the coming years. Sure, some of the scam coins, including the two bcashes, might hang onto the security of bitcoin, but those shitcoins are NOT really adding much if any value, besides perhaps providing some avenues to attract suckers into the space and maybe, if those suckers do not become too bitter by how they got scammed by the bcashes, they will come to recognize that bitcoin is the more solid place to spending their time, efforts and money (investing).
