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Comment by temp987654 | Hacker News Reader

So... this should probably mean a deep dive for btc price then, right?

No, it resolves uncertainty and lets the community move forward in a unified way. It also shows Bitcoin's resilience in the face of committed minorities who would try to take over its governance. In short, Bitcoin survived a coup d'état, achieving total victory over a rebellious group of powerful actors (CEOs mainly).

> It also shows Bitcoin's resilience in the face of committed minorities who would try to take over its governance

could it not likewise be "it also shows Bitcoin is controlled by committed minorities which will not allow others to take over its governance" ?

From the outside, this seems the case.

I checked coinbase expected exactly that, thinking "oh man, I'm glad I didn't sell my eth a month ago to buy into bc trying to capture free altcoins like others did and like I considered doing, it'll be down like 10% at least" but it... shot up about 10% instead. I don't get it.

Having too many forks makes it confusing for newcomers (and even hedge funds). So naturally avoiding a fork and keeping the community together is good for Bitcoin, which made the price go up.

The speculation prior was the the fork was driving people to buy BTC - hence the expectation of a correction.

on wex it went up as high as $7900 and as low as $7000 so it is still very volatile, I would expect more of a sell off as people who bought in hoping to capitalise on a fork now exit their position but this may also mean more risk averse investors will buy in now that there is no contentious fork due. so, as usual with bitcoin, no one knows what the hell is going to happen

Well, not everyone is on HN following news around this as they are happening.

Wouldn't you expect alts to do well in this situation, since it's essentially the yang to the yin of moving from alts into Bitcoin in fork anticipation?

Coinbase had one million new accounts opened in a seven day period this month. The rise is substantially organic in new people coming in.

Shot up to $7900, then dropped to $7000, then rebounded to around $7300. If you weren't among those panic selling, you're still up over 24 hours.

markets are going up.

Looking like a lot of people coming back to ETH after hoping for free fork-btc lol

not really..at $314 ..which is $100 off highs in July

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