Price Shoots Up as Bitcoin Unlimited Surpasses Segwit

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Bitcoin’s price jumped by around $30 yesterday shortly after it became clear that Bitcoin Unlimited had overtaken segwit in hashrate share.

Bitcoin’s Price Rises as Bitcoin Unlimited Surpasses Segwit – image from bitcoinwisdom

Although there may have been other factors, especially an increase in global uncertainty due to some of Trump’s policies, the timing of the sudden increase closely coincided with Bitcoin Unlimited surpassing segwit, standing today at 23% of the hashrate while segwit is at around 21%.

The new grassroots client has been gaining increasing support with ViaBTC, an open Bitcoin Unlimited pool, rising to 12% of the network hashrate in the past 24 hours, up from around 8-9%.

If Antpool or F2Pool start mining with Bitcoin Unlimited, its hashrate nears 40%. A significant psychological event which may raise anticipations for an upgrade of the network capacity that can currently only handle 2.5-3 transactions per second.

However, F2Pool’s co-founder, Wang Chun, told CCN that he has no plans to upgrade. Jihan Wu,

Read more ... source: CryptoCoinsNews

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