I didn't expect this, it certainly changes my perspective on Bitmain.

You couldn't be more wrong. The Bitmain announcement is GREAT NEWS!!! Bitcoin can now scale on-chain the way it was always envisioned - with larger blocks.  

Many of you are new to crypto and bitcoin. I'm not. I was trading bitcoin in 2011. Bitcoin's core development has been bought out by corporate interests and they are trying to choke the amount of transactions by limiting the size of blocks. (Blocks are basically just groups of transactions and the system is set up to create one approx. every ten minutes. By constraining them to 1MB in the code, they have limited the amount of transactions the system can handle so many transactions end up stuck in limbo - very bad). So why are they doing that? Because they have patents for their own payment system they want to build on top of the current bitcoin network. By choking the main chain to only 1MB, they force people off unless they pay the highest fees to get added into a block. The goal is to make it a settlement network for the payment system they have patents on. Rick Falkvinge, another early adopter, has a great article about this:  https://falkvinge.net/2017/05/01/blockstream-patents-segwit-makes-pieces-fall-place/.  

There is absolutely no reason for SegWit, and it is an even bigger mess of code for what is already messy code. Why then?? Because the bankers trying to take over bitcoin can use it to shoehorn in their second layer system that they have patents on. The company that was created to hijack bitcoin for the bankers is called Blockstream. They were funded by too-big-to-fail corp giant AXA, whose former CEO also happens to also be Chairman of Bilderberg. Gee, wonder how a bunch of people who want to enslave humanity with a one world fiat currency feel about a p2p digital cash system that makes banks irrelevant? But this poster thinks THEIR PLAN is the one that is best for bitcoin???

I honestly have no idea what any of this means but it doesn't sound good

thx for the perspective on the fork disussions

So glad I use "thirds rule strategy"

DON'T WORRY BITCOIN IS KING
SPLIT MAKES MORE VOLATILITY
![](https://steemitimages.com/DQmdDMoX2MUZ5YwjmGqrHFwXi12MGVLr9a4czXmT4rurxoY/image.png)

that is why the currency is losing value -- tough decision on whether this presents a buying opportunity considering the splits occuring. what is the best way to go?

Just Jihan trying to pick up BTC on the cheap again. Sneakiest little f**k on the planet.

Thanks for this info! As a newbie I think a hard fork might be better for the long run, if they can't work together. It's a shame, but it's also normal that people disagree on things.

It is an Amazing time we all live in.

Dam, this is messy.

I'm unclear as to the alternative to splitting the coin and what that will bring about. Somebody should boil this down to Wikipedia Plain English style explanation for newcomers. Am I right to understand that some are suggesting to let nature take it's course (as it were) despite the system being clogged? Also as a newbie I'd like to know 1) did the conceivers not see this coming and 2) what does this say about the viability of cryptocurrency itself?

I will keep believing in bitcoin , no fear here 

https://cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9jMTQ3MmU1Nzc0NDZmMDFjNmMyYTZlNzQwNDk1MDVhNy5qcGc=.jpg

Great article! Consider adding definitions of soft/hard fork for newcomers.

If you are looking to invest in Bitcoin, it will be smart to wait until August.

I am expecting a violent price dip in bitcoin at some point upcoming, but how long it lasts is anyone's guess. My guess is some of the capital may shelter in certain other alt coins, but coins that are already in a speculative mania may drop hard.

I'm confident bitcoin will make it through whatever results and remain an important part of the ecosystem. It still remains the main vector for value in and out of the sphere, so will retain use like a carry trade.

New to the whole thing so I don't have any knowledgeable input to offer, other than I guess this will entail a lot more study on my behalf and see where it goes from there. Just seems like "investment" choices are becoming much more fractured. Fortunately buying silver is still a "backup the truck" buy!

Thanks for the update for those of us trying to read the tea leaves.

I see it as being a China Bitcoin and a American Bitcoin, following for example the split of ethereum. Perhaps they could share regional activity under one valuation or they could divide and people would choose sides, the one with the most devs probably will be favored similar to ethereum. It already does not have enough nodes so decentralized is no longer one of its features. It will no longer be for micro payments(cost me 9 usd yesterday to send 20 usd) but for high value transfers 10K+ it is still the best portal coin for entry to the digital economy because it has the infrastructure required. Overall it will be fine if they hard fork, no one knew what would happen to ethereum also and they are cruzin along just fine today. I think most of the anxiety is around it being a first for BTC as it was programmed to never split or be taken over, so at least we will learn something from the experience regardless of what happens. Thanks for sharing, Steem ON!

http://i.imgur.com/ffRe6mO.gif

I think bitcoin has grown large enough that it can handle a split. Currently it holds close to a monopoly on coins. Just in naming of bitcoin vs altcoin. I think the split could drive serious competition and help develop the platform further.

I think August 1st is gonna be a bad day for Bitcoin...too much uncertainty. I may move most of money into Alt coins, cash out some profits, and hold a small amount of Bitcoin until the dust settles.

Better they hardfork and solve it once and for all