BitCoin's weakest ring, continuing on its way to the "balloon" rhetoric of the financial world, regardless of the arrangements and prohibitions of China and Russia; the internal strife in the ecosystem ...
he 8-year history of the first outbreak in 2009 (including the FBI operation in 2013 and the hacking of Mt. Gox ) has never been as difficult as the last few months of BitCoin. On the one hand, the ever-increasing financial performance of the investor on the one hand, on the other hand the commercial, technological and legal problems brought by this mass, BitCoin's need for scalingalso revealed. The most important problem in this context is that the transaction capacity, which allows 7 transfere at a time, is insufficient in response to the increasing demand, resulting in prolonged transfer times and very commission fees which are very small at the beginning. This, of course, makes BitCoin even more competitive with Credit Card systems, which can transfer around 2000 at the moment.
That is why BitCoin ecosystem has been intensively focused on this scaling problem in the recent period and discusses various solutions. Forking , which we have heard since a few months ago, was developed in the context of this search for solutions and the first application on the BitCoin ecosystem was in the name of SegWit in August . The ultimate goal of this approach, which is on the agenda nowadays, is that the Bitcoin system maintains its claim to be "the safest, least cost, cheapest and cheapest value transfer and storage tool" and can meet the buying and selling needs of the smallest investor.
The whole community agrees with the target in question, but the main problem (and the actual discussion) is how it should be done. There are 2 major interest groups in this field; One of them Bitcoin supports most established technology and software development provider Blockstrea I'm CEO of Adam Back's leadership and consisting of weight software origin engineer community bitcoincor the group , and the other early Bitcoin rich Roger Verde, Jihan Wu, Barry Silbert and their investors with Bitcoin miners the " New York Convention " supporters.
According to the discussion, the BitCoin Core group argues that in addition to the implementation introduced in August, the soft system will soft-forking, which will make the existing system structure more radical without changing it. Supporters of the New York Treaty claim that the investment and use of BitCoin can not be met by this long-term demand SeagWit2x is demanding a hard forking that they give and a more radical software and hardware enhancements. At first glance, the arguments of both sides seem logical, but in the first bifurcation application (SegwitX) in August, Roger Ver and his friends took a new CryptoPara named BitCoin Cash (which functions as a BitCoin Docket) in the last minute and introduced it as a new BitCoin , the group has lowered their trust and therefore the Bitcoin Core group accuses the fans of the New York Convention "by producing and distributing new CryptoParsals in the process of bifurcation and using BitCoin to its own commercial interests".
Why are all these developments important?
Because all development, implementation and update decisions about BitCoin are taken by qualified majority called Digital Consensus, and the bloody stabbed state of these two important groups of the camian leads to important questions about the future of BitCoin. A somewhat anxious scenario is that both groups can not agree and in practice in early November BitCoin is bifurcated under the same name but as two separate networks and both groups claim that the real BitCoin is on their side.
Undoubtedly, such a catastrophic scenario seriously damages the trust of investors and undermines both BitCoin and other CryptoParas markets. Beyond this, it may even go unnoticed whether the BitCoins that investors already have in their hands will be what will happen after this bifurcation and where, how it will be valid, and even whether it will continue to be valid.
Ezcumlu, Bitcoin spoken today at $ 6,000, can be converted into a digital memoir . With the resistance of the parties involved, if the recent reviews of various BitCoin communities are looked at, the consensus turns towards the BitCoin Core group. In fact, many software developers, investors and users who oppose the approach of the New York Agreement have launched a chain protest by adding NO2X to their social media profiles .
the change takes place in November, it is likely that the New York deal will step back in November, as in August, and manage with "small opportunities" like BitCoin Cash. In this process, I would recommend to BitCoin investors, the change in November is also a risk to the fs.
As you can see, BitCoin's struggle for existence is actually in the form of its own internal ecosystem, such as the US, Russia, China, and foreign powers like traditional financial markets, which are largely software developers, miners and investors.
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