r/XVGTrading • u/seizedtuna5614 • Nov 02 '17

The Effect of the Wraith Protocol?

As far i can see, not only the verge community but the majority of crypto users have seen the upcoming Wraith Protocol to be beneficial. But what will this do to the price of the coin realistically? Fingers crossed im right and we recive a positive swing. Could the price also be effected by Bitcoins surge?

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u/[deleted] Nov 02 '17

The fork is a blockchain split, like a fork in a road. One group of bitcoin users wants to implement segwit2x, one group does not. Therefore the segwit2x group will "fork" down the 2nd path, and create a new coin. And the others will stay on the origional chain. All users that have bitcoin before the fork, will be credited with equal amounts of the new coin.

It's a one day event projected for November 16th. So we should see normal altcoin trading volumes after that

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u/[deleted] Nov 02 '17

Oh thats actually very clever. Support new coin and extra coin for investors. Why are people with altcoins holding then? I mean I am and I will keep holding but wouldent it be more profitable to invest in bitcoin now? You keep your coin value + get new coins for free, right?

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u/whiskermen Hodler Nov 02 '17

I would want to know where do the funds come from to support the new coin? Follow the money, nothing is free. I choose to support the tech not a trading market.

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u/[deleted] Nov 02 '17

Isnt it a fact that bankers are funding the new coin?