I was expecting to wake up yesterday (Aug 1st) morning, check coinmarketcap and see a drastic shift either up or down, probably double digit %
If up, yay for my tiny holding; if down, scrape some cash to strengthen positions.
But on checking, the market looked pretty tame.
Most of the top 20 are in single digit % green.
The surprising one being Ethereum which appears to be on a rally
I guess all the fears about UASF, and Hard Fork (despite Bitcoin Cash being traded on some exchanges) were allayed because a majority percentage of miners had signaled for SegWit over a week ago.
If one had been following the news, one would get the impression of a doomsday scenario and I'm glad that's not the case.
I did read that in some months time Bitcoin might still have to decide on whether or not to increase the block size to 2MB i.e. Segwit2X. However this would require a hard fork. So maybe we're not quite out of the woods yet.
Personally, I think if a hard fork (say >90% miner support) and transition to the SegWit2X Bitcoin can be carried out smoothly then they can go ahead. Otherwise, I'd say leave it alone.
There are other currencies that can handle smaller transactions e.g. Litecoin which doesn't even max out its block size cap yet (also 1MB), has a block time of 2.5mins (as opposed to Bitcoin's 10mins) and has implemented SegWit already, then Dash who are willing to go up to a 400MB blocksize.
What are your thoughts? What do you think will happen going forward?
UPDATE: Bitcoin Cash (BCH) now appears on Coinmarketcap, is #3.
I think many people will dump it for the free money. Let's how far it goes as regards adoption and dominance ¯(ツ)/¯.