The Current Scenario of Bitcoin Unlimited and Segwit
Mining Blocks and Nodes Stats
As per current scenario, around 38.6% of miners are supporting Bitcoin Unlimited and 27.7% of miners are supporting bitcoin core solution Segwit. When it comes to number of blocks mined in last 7 days around 62% of core blocks and 37.1% bitcoin unlimited blocks got mined but the BU blocks are increasing and core blocks are decreasing very fast. Interestingly 82.27% Bitcoin nodes belong to bitcoin core and 11.75 % of bitcoin nodes belong to Bitcoin Unlimited.
Roger Ver also known as “Bitcoin Jesus” is pushing hard for Bitcoin Unlimited hard fork and managed to bring the world’s biggest mining equipment manufacture and biggest mining pool Bitmain’s Antpool and Chandler Guo recently which has stunned the world and everybody is taking this hard fork as inevitable after such huge push.
Bitcoin Contingency Plan
Due to this reason, all worldwide exchanges have released contingency plan regarding the hard fork. Indian exchanges have yet to respond for the same!
Altcoins gaining traction
In last two weeks, several alt coins like ETH, DASH, Moneero, Augur, ETC, NEM have got almost doubled or tripled, especially Dash went from $16 to $106 in last 1 month, ETH went from $11 to $42 jumping Dash from 8th to 3rd position and tripling market cap of Ethereum.
Bitcoin Market Cap and price reduction
Since the ETF rejection happened, Bitcoin price has been reduced from $1265 to $1065 and market cap reduced up to $3 Billion to $17.4 Billion. At the same time Global Market Cap increased up to $2 Billion. This means not just money from bitcoin moved to alt coins but fresh money also moved to alt coins thereby decreasing the Bitcoin dominance from 87% to 72% approximately
Possible Time for Segwit or Bitcoin Unlimited Activation
There is no confined date for segwit or Bitcoin Unlimited but as per the recent aggressiveness of Bitcoin Scaling issue and price reduction due to recent announcements and sudden increase in Bitcoin Unlimited support by Miners especially from China, it seems Bitcoin Unlimited to be inevitable now and possibly can be activated within next 3 months. This is just my prediction based on my understanding of current market scenario but it should not be taken as granted. Still this is the right time to take some important steps in order to not lose our money.
To be concluded.
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