Post
Topic
Board Development & Technical Discussion
Re: Layman Terms - November Bitcoin Fork
by
Bitcoin_BOy$
on 17/10/2017, 07:09:18 UTC
Right, so it will go to 2MB, I see.
No, it will actually go to 8 MB. It changes the block weight to be 8 million which makes the largest theoretical block size to be ~8 MB.

However, my question is more simple than that. Basically, just like BBC, Bitcoin Gold creates a new coin. So, in essence, at Time 0 of the fork, we have 2 coins in existence as a very similar to each other, BTC and Bitcoin Gold (with the 2 MB segwit)? Right? And so at this point, either one can move to dominate the market?? Bitcoin Gold could theoretically overtake BTC in popularity and adoption? So Bitcoin Gold is just another Altcoin that we get free because the fork is from the same blockchain as BTC?
Bitcoin Gold and segwit2x are two completely different things. They are just like Bitcoin Cash in that they are just altcoins. Because they share a history with Bitcoin, anyone who holds Bitcoin at the time of the fork has the same amount of coins in the forked chain.
What will happen if the block size change to 8 MB, Hopefully it will solve higher fees and confirmation time.