CXC Launches Vote on Bit Collision, Market Value Era Coming Soon

Recently, the CXC public chain official website published an important announcement to vote for the whole network on November 20, 2019, to decide whether or not to cancel bit collisions based on the rule that the minority is subordinate to the majority. Up to now, the votes in favor of closing bit collisions have overwhelmingly prevailed over the votes against them.

In the early days of the CXC public chain launch, bits played a key role in the initial market value positioning of CXC. Now bitcoin is facing a reduction in output. The ecological decision announced by CXC public chain to close bit collisions inevitably plunges the market into a downturn. A small phase may be coming to an end and a big era is about to begin.

A small number of people think that the 4-year bitcoin production cut will surely usher in a new round of market explosion like the previous two cuts, and CXC, which anchors value through bit collision mechanism, will benefit greatly. Why the CXC public chain will break the market speculation and open up new roads, we can find some answers from the bitcoin production reduction and CXC ecological planning.

As we all know, the difficulty of mining is one of the indexes to predict BTC price. Bitcoin's three major bull markets in history all began to erupt after the difficulty of mining was over. Now it is getting closer to the third cut in bitcoin production in May 2020, and many people expect the bull market to return soon. However, judging from various signs of the market, most people are too optimistic about the halving this time. At present, the trading depth and volume of bitcoin stock in the market are far from the level of the previous bull market. How can one believe that the 3 million bitcoins that have not been excavated can change fate?

As shown above, bitcoin's historical peak appeared at the end of 2017, reaching 20,089 US dollars. After that, the price began to drop rapidly to the lowest point below 4,000 US dollars. For most of 2019, prices have been fluctuating between $7,000 and $11,000.

At present, CXC is in a period of rapid growth, while bitcoin is in a period of ups and downs. If we continue to use bit collisions to limit the market value of CXC, it will be inappropriate, which will greatly limit the future development space of the CXC public chain.

Just imagine, even if Bitcoin's price picks up again due to the halving of this round of output, or even higher, up 5 or 10 times, this is not a good market opportunity for CXC public chain. This means that the CXC will be limited to several times the increase space for a long period, which is very unfavorable to the current development speed and stage of CXC. The ecological orientation of the CXC public chain is to surpass ETH and enter the top three in global market value within two years. Compared with the current market value, the CXC public chain still has more than hundreds of times of growth space. The current CXC should get rid of bitcoin. The value of CXC should change from collision to market. The future value of CXC will only be related to ecology, consensus, and community, not any other encrypted currency.

Besides, there is a lot of blind psychological construction in the market for halving bitcoin production this time. It is not uncommon for BTC to increase 10 times and then decrease by 90%. After bitcoin reached about us $20,000 at the end of 2017, it soon dropped to a low point below us $4,000.

"History never repeats itself but it rhymes." This is Mark Twain's famous saying.

According to CoinMarketCap data, the blockchain industry now has a total market value of us $234.3 billion, a large base, with bitcoin accounting for 65% of the total market value. Halving bitcoin may bring about an improvement in the market, but it is unlikely to drive another bull market in the entire blockchain industry.

If the market is brought into the freezing period by bitcoin's continued decline, CXC, which is targeted at BTC value, will also be restricted from development. This is not the market we want to foresee.

As for the current overall ups and downs of the encryption market, Xiaolai LI once said, "In the short run, no digital asset is bullish, but in the long run, it must be rising." Although we cannot hold a blindly optimistic attitude towards the market, just as the absolute force driving the growth of the stock market must be the fundamental economic growth, it is the arrival of the future digital economic society that drives the rise of digital assets. The valuable digital assets are the value orientation of the future digital economy world.

Before this era of market value comes, please be sure to believe in faith.