Hello sreemians,
Now we all are into cryptocurrency, some of have learned about steemit by cryptocurrency conversation and the others learned about cryptocurrency by being a member of steemit.. the point is: you can't be a steemian without being interested in cryptocurrency
Since we all passionate about crypto, we have to admit that bitcoin is the crowned king for the moment, and our investment fate depends on the success of this coin for now..
But what if we invented a lot of time and money in the cryptoworld it suddenly collapsed?
Is that possible?
Yes it's possible of course, but it's unlikely to happened anytime soon
Why i am so sure? Because it's gathering more and more attention and interests which is the exact opposite of collapsing
Now bitcoin would have been in big danger in my opinion if segwit didn't show up, and that's because the fees were getting crazily high lately and confirmation time was taking longer and longer... and that it self was ongoing collapsing
Thanks to the geniuses of blockchain they created the segwit concept, which increases the transaction speed and reduces the fees
Now I am not into technical stuff a lot but i know few things about way of how transactions works, and i know that because i am a cloud miner, which makes it business for me to know
Let's talk about segwit effect in mining:
Since segwit will reduce the transactions fees and increase the speed of confirmation of transactions, wouldn't that reduces miners income?
No it won't, actually it should increase the income because the difficulty will be resuces massivly and the price of bitcoin will increase, as per our case..
People knew about the segwit about a month ago or little more then that, which is why the btc/usd exchange rate jumped for more then double in the mentioned period.. do you find any other logical explanation for the price jump?
Of course the hardfork was a major factor too because people want the free generates coin of the split which is now bitcoin cash
But that's not the main couse of the price increase, because if it was , the rate should have skyfalled after the hardfork.. but the real reason is that the segwit makes bitcoin more reliable
Before the segwit, it was impossible for someone to send 3$ Worth btc sometimes because that would be less then the transaction fees
Now people are started to talk about micro payments.. which is making me so excited about it
Now I don't know if this adjustment is possible to be repeated, but i do know that if it was possible, it means bitcoin future is safe and we don't have to worry about it