I’ve been worrying a lot about the coming Bitcoin/Bitcoin Cash hard fork on August 1st, and this is the third cartoon I’ve made on the subject as a result. (I made a cruddy one while drunk the other day that I wasn’t super happy with.)
At yesterday’s Bitcoin drinkie here in San Francisco, the general opinion was that as long as you were holding your coins in a non-custodial wallet, you’d be fine. (If you’re a Bitcoin holder, find out if your current wallet is good to go here.)
Unfortunately that doesn’t really answer the question of what will happen to the Bitcoin network itself when a portion of the hashing power is suddenly directed at something that is, for all intents and purposes, an altcoin. It’s likely that we’ll go through a period of pure chaos as the network and the markets reorient themselves to this new reality. The first victim will of course be the price.
It’s thoughts like that that really keep me up at night.
PS. I’ve made some obscure pop culture references with my previous cartoons, but this is without a doubt the most obscure one ever. There’s probably only a handful of horror fans that have seen the anthology that I pulled this from, and for those select few … high five!