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This article mainly explains "what is the impact of hard bifurcations on Bitcoin". The explanation in this article is simple, clear and easy to learn and understand. let's study and learn "what is the impact of hard bifurcations on Bitcoin?"

1. Why do you need hard bifurcation

A) the congestion of Bitcoin has been going on for nearly a year, and the transaction fee has been as high as 10 yuan per pen, affecting the use of Bitcoin as a currency, such as Dell's recent removal of Bitcoin payments (my alien laptop is purchased through Bitcoin, the actual users of Bitcoin is the source of Bitcoin value)

B) Bitcoin needs a larger block to accommodate more users, or it will be overtaken by other competitive coins. ETH's total market capitalization has reached 1/4 of BTC and 1/2 of online transactions.

C) as long as the blockchain remains the same, mutual attacks and accusations will continue. The sw on the Core side cannot be activated, and the large blocks on the BU side cannot be activated, so the development of Bitcoin has been deadlocked. If you don't advance, you will retreat. As a result, it will be surpassed by competitive coins or even abandoned by users.

D) the risk of hard bifurcation: it could lead to the split of Bitcoin.

Division is not in the interests of the mining industry. Measures taken by the mining industry to prevent the split of bitcoin:

E) as with surgery:

It's definitely not as dangerous as the layman looks.

Although the mining industry has made many preparations, there is no guarantee that there will be no problems. The higher the consensus in the industry, the lower the risk.

F) there will be no hard bifurcations in the short term, which requires a considerable degree of consensus in the market before hard bifurcations occur. It may take six months to a year.

2. The influence of hard bifurcation initiation on all parties.

A) for miners: it is necessary to choose mining pools with high prices. Under normal circumstances, all mining pools will dig high-priced coins, but do not rule out the possibility that politically motivated mining pools will continue to dig low-priced coins, and miners should get out of such pools as soon as possible.

B) to exchanges: most exchanges will remain neutral and offer two currencies at the same time, but do not rule out the possibility that politically motivated exchanges will provide only one currency, and users should leave such exchanges as soon as possible.

C) for Xiaobai, it is recommended to put the currency on the trading platform, interest rate resolution such as Fire currency Network. Coins on the chain (explain what coins on the chain mean): all coins on the chain have a Core coin and a BU coin after the fork. The way to change one into two is to import the private key into the Core wallet, there will be Core currency, import the private key into the BU wallet, there will be BU currency. These are two separate currencies, but because the data structure is the same, they may be affected by the replay transaction.

D) for users on the chain: need to download Core+BU two wallets.

3. The influence of hard bifurcation initiation on currency price.

A) how prices are predicted: long-term prices can be predicted, short-term prices cannot be predicted, and I can only list the quantities that may affect prices.

B) hard bifurcations may cause diehard supporters on both sides to throw coins on each other's chain (for example, Bitcoin Jesus will smash all coins on the Core chain), causing the price of the currency to fall.

Futures can find the price in advance, delay the sudden fluctuation of selling currency, and the supporters of both sides will gamble the price on the futures earlier.

C) hard bifurcations may cause some investors to sell coins and leave the market.

D) the long period of hard bifurcation will slowly release the market panic about hard bifurcation. It is possible to vacate all the advantages, and if regional currencies gain a clear advantage before bifurcation, then currency prices are likely to rise as a result of the resolution of the three-year stalemate crisis of expansion.

E) for long-term investors, it is recommended to hold the currency until the dust settles. Bitcoin will continue to rise in the long run.

F) unless there is a particularly strong confidence and tendency in one party, it is not recommended to sell one currency and buy another. This kind of behavior belongs to gambling. What you win is what others lose, and what you lose is what others win.

Thank you for your reading. the above is the content of "what is the impact of hard bifurcations on Bitcoin". After the study of this article, I believe you have a deeper understanding of the impact of hard bifurcations on Bitcoin. the specific use also needs to be verified in practice. Here is, the editor will push for you more related knowledge points of the article, welcome to follow!

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