As I write Bitcoin is about to break $3000. Another all time high, so here is my satoshi's worth.
Today: Bitcoin Scaling Agreement Officially Met: Segwit + 2MB Hard Fork (from CryptoCompare)
"On May 23, the Digital Currency Group (DCG) revealed that miners and businesses came to a consensus to solve bitcoin’s underlying scaling issue. Agroup of companies representing the bitcoin industry and community with 83.3% of hashing power agreed to the activation of Segregated Witness (Segwit) and a 2MB hard fork within six months thereafter. The agreement reads:
“This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the non-witness data to be around 2 MB, with the total size no more than 4 MB, and will only be adopted with broad support across the entire Bitcoin community. We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core,” "
As recently announced at the Ethereum conference, JP Morgan (financial terrorists to many... check out https://steemit.com/@dollarvigilante ) have decided to support ZCash. Personally I haven't heard good things about ZCash, better things about Monero on making private transactions, but then the banks are probably panicking.
http://www.coindesk.com/jpmorgan-partners-zcash-team-add-enterprise-security/
From my constant research the following modest video recording encouraged me to want to speak out about the ISSUES WITH BITCOIN.
As you ought to know the scalability problem of Bitcoin will bring it's price tumbling. This is as much to say, the all time and record high, not today's at $3000, but $5000 possibly this year clearly is not far by current market trend. At Christmas 2016 the sudden climb of bitcoin from the doldrums for years was remarkable as it rose through $800.
https://www.cryptocompare.com/email-updates/daily/2017/may/23/
BITCOIN TRANSACTIONS COSTING $1.80 Is this really cheaper than the Banks?
And the waiting time for transactions to complete! I used Coin to Pal ( send Bitcoins into your PayPal account) and got charged 7.5%!!!!
Bitwala would have paid into my bank account at cost of a 10% fee.
Is this not why, a Pizza on the backend of Bitcoin will be worth $5000? I see it as a pie full of of other cryptocurrencies that are supporting it's price. It will long remain a good Trader Currency, whatever happens.
I have reservations that the public will adopt it any more than they do already, as they have other token coins and anything the Government let's face it, wants us to use as money, even if backed by their power (arms and control), corruption, and lies.
If someone gives you some Bitcoin, what can you do with it? Buy Pizza..... not so easy, you'd have problems. It's likely you'd have to invest the kind of energy required to mine Bitcoin in the first instance; to research where, what kind of app you need on your phone, get verification etc. Which in inconvenience, layered on your convenience food.
Most people don't want to do this yet, they are hooked on relying upon someone (the banks) to have set all that up for them. So this Pizza is not going to arrive until the Bitcoin price is up there at $5000. for some it will be cheap enough.
Have you ever thought the price is so inflated, it smacks of N.W.O. Global currency? Transactions are not getting through. By the way BUY GOLD NOW WHILST BTC is at all time highs, to cash in on it. When I first looked for things to buy in 2013, there was expensive gold coins, all over priced for the reason of using Bitcoin to pay, but nevertheless possible (and vaping equipment!) I don't believes anything other than DEO based currency can be a World currency and firmly wish for that day. It'll make people think less nationalistically and more globally.
Where is the solution? When the price drops significantly now from the high $2-3000, it'll be a signal of a split in Bitcoin, when many people start to dump it.
One fork off Bitcoin would have to be highly stable to use as currency by most people, the other could potentially continue to be volatile and be used to store wealth (which should be subject to such risk as it is of no utility to anyone else, to have sit on someone else's hard drive and do nothing - you might as well store wealth in gold) -
It is after all a technology and this requires constant updating and some repair.
Development of Bitcoin through Lightning, SW, and flavours in the crypto field, may well increase the growth in the user base steadily.
Like emails in the early 1990's, the slowness did it .
There'll be a Bitcoin going high after a split, trading against the one that should be adopted for its stability as a currency, and this fight will support the development. As people wish for harmony or their new Pizza date!
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Ultimately it'll only be the finance industry that requires lightning speeds, and will take over many of the bulky payments and on the other hand profit from ETF, and options trading, as further earnings for themselves. This is likely to to mean the higher over priced version of Bitcoin, will remain independent and offer anonymous transactions, or as 'constructed' by exchanges and wallets online, will give it a degree of privacy. Whereas the banks will introduce taxation to holding the other Bitcoin, as they do gold deposits now, or issue annual tax statements.
Look out for SAFECOIN, (see TDV report), Maidsafe interesting. Zcash (just like Litecoin but private, for which Monero is a better almost fork it fact ) I have heard good things said for Golem. BTc has been said to be 1 of 5 worst cryptos because of it's Market Cap (i.e. it is overpriced).
NEM, Monero and others (if you day trade- Ripple will be a profit making one to trade) the future Blooms!!
TIME IS ART
Kin 1: Red Magnetic Dragon
This is a Galactic Affirmation for you from today (Mayan 13 moon Calender Tolkin):
I Unify in order to Nurture
Attracting Being
I seal the Input of Birth
With the Magnetic tone of Purpose
I am guided by my own power doubled
Signing about me:
I first heard of Bitcoin on the Max Keiser show maybe in 2012, when Stacy his fiancee didn't just bandy about Max's gold ring, but was the one of the pair who believed in it.
I first bought Bitcoin towards the end of 2012 start of 2013, 1 for £10, then it rose in value to $30. I looked into the Deep Net and found Silk Road, but there was nothing to buy with it for me.
I turned to investing it, so I thought. There was 'wallet' earning interest. There were sites, giving away Satoshi just to click on them So I staked 10 Bitcoin in mining, losing 9 Bitcoin bought at $30 and got a little burnt by the Mt. Gox collapse not much later.
I wrote my first and only blog as some of this happened, but did profit from Bitcoin in terms of my initial investment. Too often perhaps I have taken out my profit to cover my outlay in good times, and like many sat whilst patiently learning. Today I have profits in keeping with low risk.
Now I diversifying in other cryptocurrencies successfully in my opinion. Buying into Ethereum at $10, seeing it drop to 7, oh...that was only last Christmas, and what, the DAO and the fork. Now I'm forming my own opinions on Cryptocurrency. I wish to thank so many VBloggers out there for sharing their knowledge about alt currencies, from who we all can learn so much about each one and profit from the good bit of the crypto-pie.
I have long thought the future lies in the FLAVOURS, and packets of cryptos that'll help us combine 'currencies' to make better transactions and draw upon a spread of such investment.