I love bitcoin but I also love alt coins as well. Many of my posts deal with news, speculation and behind the screens information about these digital currencies to help people like yourself make better informed decisions and understand what is going on.
Two things have come up so far today about Bitcoin which we will go over in this post.
Lightning Network
Lightning Network is a side tool that will be able to use bitcoins blockchain to do micro transactions. These are transactions that are so small such as faucet claims, small bets etc would be able to be instantly and securely passed though bitcoin without demanding a high amount of block size which is currently cluttering up the block chain. This will help reduce fees for micro transactions which right now can cost just as much as what you are sending if not more.
There is still much work to go on with Lightning network but so far progress is looking good. The rules that where mapped out over a year ago are now coming into action and slowly being approved and accepted to the block chain. While not there yet lightning when activated will prove to be a viable option for many new apps and sites that use micro transactions quickly.
Bitcoin Network last 2 days Segwit and a Larger Block
This week has been a bit crazy with Segwit locking in fully. Bitfury ended up actually mining a block larger then 1MB in size on the bitcoin blockchain! This file was 32KB (1.032MB) larger which really is not that big at all however it is a huge milestone for bitcoin and shows bitcoin can remain bitcoin and evolve and grow.
What is important to know about this is it means bitcoin can grow however it wont be next day growth it will be growth over time. Hopefully by the end of this year we will see transaction costs greatly reduced.
Segwit + Lightning + ETF approval could bring prices to the stratosphere in the coming months! Take a look at this video by Bloomberg, I think it will happen this time: https://steemit.com/bitcoin/@cryptoeagle/why-a-bitcoin-etf-may-soon-become-a-reality-video-by-bloomberg-business-it-s-happening-folks
Regards
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BOOM! I like the way you think and yes if all goes well $4,300 per bitcoin is going to seem like peanuts compared to where it will go lol If you really believe in bitcoin I dont think you can go wrong at all picking up as much as possible at these prices.
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BOOM! that word pretty much describes my optimism. I know, It may take longer than I expect and there will be bumps along the way but I think this is just the beginning of a revolution, not just for money, this is a revolution in trust!
Take a look at these posts, you will understand why I'm so optimistic and believe in million dollar prices, maybe even more if the dollar hyper-inflates due to the now overdue economic crisis and the typical keynesian response of governments to them.
https://steemit.com/bitcoin/@cryptoeagle/cryptocurrency-wallet-users-vs-facebook-users-where-are-we-now-making-the-case-for-the-million-dollar-coin
https://steemit.com/bitcoin/@cryptoeagle/crypto-is-siphoning-off-gold-s-market-cap-bitcoin-could-increase-50x-in-price-by-stealing-gold-s-thunder
https://steemit.com/bitcoin/@cryptoeagle/why-a-bitcoin-etf-may-soon-become-a-reality-video-by-bloomberg-business-it-s-happening-folks
Best regards! Thanks for swooping in with a response to this cryptoeagle ;)
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hurry the hell up bitcoin! :(
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Bitcoin will rise and with it, increase mainstream media hype. The more the media hypes up Bitcoin, more people will buy in and therefore increase not only Bitcoin's value but pretty much all other coins as well.
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@bitcoinflood The King is Bitcoin. Need we say more. But Steem is our dream.
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Thing with steem though is you buy it with other coins which most likely first came into ownership from having bitcoin. Bitcoin is here to stay I just want them to start moving already lol they know the issues with it correct it :)
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You have a point right there the thing with Bitcoin is that it doesn't need to go mainstream. But Steem learned from Bitcoin's shortcomings and is reaping the rewards.
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good post. will you be publishing your portfolio?
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Nah most likely not sorry
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Why not? You could just publish the ratios if you're not comfortable publishing amounts. I'm planning on publishing mine, just to get some feedback.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Valor2S from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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Nice
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waiting for lightening network to be implemented
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Great post! I was wondering what was up with Bitcoin and their speed and cost issues. Being the father of Crypto, it has a reputation to maintain!! Thanks for the info.....! Please follow me on steem if you can!!
cheers,
Kuntal.
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