Everyone is so worried and scared shit about the upcoming Bitcoin Soft Fork! Why? Because too many non-technical, non-educated, out of work, people can't make sense of it and everyone has there own agenda.
How do we know this true? All you have to do is look at the HashRate of Bitcoin and LiteCoin and you will see it keeps getting higher and higher!
What does that mean for all you non-technical, non-educated, out of work people out there?
It means that there are so many transactions happening that it takes more and more miners to hack the encrypted block and perform the transaction, thus the transaction rate is getting higher!!!
Well what does that mean?
Since the hashrate keeps going up on BitCoin and all the AltCoins, this means that it is harder to mine, thus the price of hashrate has to support it or we will also be seeing a HUGE drop in the hashrate as well!!!! In that scenario, we are talking about a nuclear winter for CryptoCurrencies if that happens!!!
So what will happen on August 1st?
My prediction is BitCoin will successfully completed the Soft Fork because LiteCoin proved it can work and all this talk about BitCoin splitting is nonsense, UASF will not happen folks!!! It is just too much at stake, if it happens all and I mean ALL crypto-currencies with be worthless overnight because it will lose the confidence of Joe Public and that is a scenario BitCoin and its community cannot afford and they know it!!!
By The way, just in case you want to know, Yes, I have been buying the dip!!!
Thanks for the hash rate chat. I'm one of those non-technical, non-educated, out of work, people that you've mentioned ;)
I agree with you here mate and have given you an upvote. You can check out my thoughts on the market psychology of SegWit here.
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Thanks, just for a short reminder to everyone, I am Senior Level Computer Programmer [work as an independent contractor] and have built trading systems, Decentralized Apps, Centralized Apps and have a very good sound understanding of the technology behind the cryptocurrencies and their blockchains. To me some of them make since, others make no since at all and others should merge technologies. I just wanted to try to explain to everyone in the best layman's terms I can try, that everything will be Okay come August 1st. I will be checking out your blog today and thanks again.
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