>the consensus vote to activate sw2x on existing BTC network was an in-band mechanism, and set to some super impossible threshold like 95 or 99% to activate a fork.
> such a move would (indeed, will) make major waves in mainstream Joe Pension Fund/ Number Go Up news, who will not be familiar with nor interested in the technical arguments for the fork that is being actively suppressed. there's no weeks-long debate window here.
Fair point, given how the markets reacted to this drop in hashrate.
> Fair point, given how the markets reacted to this drop in hashrate.
What makes you think the market reacted to the drop in hash rate? A 20% move is pretty typical in crypto. IMO this is more likely due to Bitcoin not having moved in price in almost 2 months (it's below its 2/18 price now, by a lot). People moved their get-rich-quick energy over to Doge. And once that sputtered out, they tried to cash out.
Tether by the way, had its two biggest outflow days ever on Thursday and Friday (200 and 300M respectively via the Kraken USDT:USD pair). If Tether is actually just backed by crypto and hope as we suspect, they'd have had to sell crypto to refill their depleted cash reserves. To be clear this is pure speculation.
Another possibility is the market is reacting to all the Coinbase executives dumping massive quantities of equity on retail bag holders, signaling a potential top.
Since all cryptos are dumping, primary and alt, it's probably a more systemic issue.
> Their SegWit code, defined by BIP141, activates if 95 percent of hash power within a single difficulty period of about two weeks signals readiness before November 15th.
Source for this? I searched around and the target was 80%. https://www.weusecoins.com/what-is-segwit2x/
> such a move would (indeed, will) make major waves in mainstream Joe Pension Fund/ Number Go Up news, who will not be familiar with nor interested in the technical arguments for the fork that is being actively suppressed. there's no weeks-long debate window here.
Fair point, given how the markets reacted to this drop in hashrate.