4 stars based on
The 2X side — who support a hard fork to increase the Bitcoin block size to 2mb from 1mb — are remaining fairly quiet, having had their code ready to deploy for a number of months. Unlike the name suggests, Ethereum Classic has virtually nothing in common with Ethereum. Ethereum Classic cannot be spent at stores which accept Ethereum and it cannot be used to interact with Ethereum smart contracts. It may come as little surprise then that Grayscale are a strong supporter of the Bitcoin 2x hard fork coinbase hard fork.
It was also noted that the Bitcoin 2x hard fork coinbase filed for rule changes with the SEC that would allow them to follow the chain of their choosing — Core or 2X, presumably whichever was most profitable. The proposal was called out by Bitcoin developer Matt Corallo in his comments to the SEC in September, declaring that this flexibility in which chain to follow could lead to enormous confusion for investors.
Political rhetoric aside, the real reason behind Bitcoin Cash seems less of a humble Bitcoin vision, and more about the cash. Incentives are wildly misaligned between coin users and creators and this gap will only become more exploited as the market expands. If 2X should be deemed Bitcoin by the economic majority, then will those opposing — who have committed foolhardy to fighting the fight — be willing to concede?
Whichever coin takes the name, one side of the bitcoin 2x hard fork coinbase will be feasting on bitcoin 2x hard fork coinbase pie; or — perhaps more likely — they will continue down the path they so vehemently fought.
Nick is currently the sole author of this blog and writes on a range of topics from the technical to the financial. He also developed the Ethereum price tracker. This website is intended to provide a clear summary of Ethereum's current and historical price as well as important updates from the industry.
I've also included a number of ERC20 tokens which can be found in the tokens tab at the top right. Please note, weighted average exchange prices update very slowly for some ETH and token pairs. Investors should seek professional financial advice. Cash, Core, Gold, 2X Oct 2 at Written by Nick Cannon.