The World of Cryptocurrency - Segwit 2X
As I woke up this morning, my phone were having so many messages about the good news in the cryptocurrency world. The youtube was flooding with such good news about segwit 2X. 😊
The segwit 2x has been cancelled! This will really gives excitement to the bitcoin community and to be fair my hats off to the guys who decided to cancelled it. Bitcoin will need to be upgraded in the future, in fact the Bitcoin core developers were already working on upgrades and it will continue to move forward. But it has to be done in a way that brings people together not divided the community especially at these earlier stages of Bitcoin. We're at a hundred billion plus market cap but it's still important to make sure that people are on board and enthusiastic with what is going on. Im wondering now, after the cancellation of segwit 2X, how much bitcoin will rise from here. Surely, it will skyrocket as everyone is expecting to happen. 😄
It's fantastic that segwit 2X has been withdrawn and that does not mean that all conversations about the future of Bitcoin are over by any means. This is a statement from Bitcoin page (its an older statement we'll see if they stick to their word) - They said that if segwit 2X fails they're putting all of their mining power into Bitcoin cash. And now, Segwit 2X failed and we'll see if they stick with that or not. A lot of people who are big supporters of Bitcoin cash and this declaration will gives smile to their faces. 😄
I read it was on, then it was off, then it was partly on (some people only)
so I'm confused!
But if it is off, then I wonder about the movement of money back to ALT coins?
Dont worry you are not alone who is confused Lol:)
I guess mushrooms are never alone :-)
I just checked and STEEM seems to have stopped falling.....
maybe a slight increase. next few days could hopefully see it back to $1 +
Hopefully steem will regain its ground. :)
Unlike BTC I think steem actually has 'value'
eg Steem represents something ie a media platform.
or ripple is a way for banks to exchange value etc
OTOH I cannot see any real value in BTC, it's just a coin that someone says has value
and it is 'famous'.
So in time I think 'value' will head back to ALT coins (maybe now that 2X is off?)
But I'm not sure bumping the value of steem ATM is a great idea.
A lot might cash out? is that good or bad?
so many variables :-)
Steem is designed to remain as close to the US$ as possible over the long run in order to maintain a sense of certainty.
So it's not a growth investment crypto wise?
I'm better to move steem into BTC or LTC or XRP or something if I want capital growth?
What happens if / when Steem goes from 400K to say 4M or 40M users?
What do you think might happen to Steem values vs US$
It's not a growth investment mate. Steem Dollars are pegged to the US$ because they're basically an "I owe you $1" contract. So it doesn't matter how many there are, they will also be worth about US$1. The only reason the price varies at all is because some people want their US$s faster than others.
If you still don't understand, this might help:
If you want capital growth you are definitely better offer with other coins. But if you already have at least €50 worth of BTC and want some easy capital growth let me know and I'll post a link for you.
Steem Dollars and Steem are two different coins. Steem Dollars being pegged to $1 helps when Steem drops below $1.
Thanks for the video, great explanation.
So selling my SBD, for "steem" I'm not 100% clear on, but I gather this is an intermediate step/ way to trade for BTC or XRP or increase my voting/earning abilities with steem power etc.
But I have an other Q. if I can.
At the moment US$ relative to say gold (just as a benchmark) is worth $X / oz
and now hyper inflation hits the USA - due to the USA massive debts
So a loaf of bread in the USA now costs US $1000 instead of current $1
On the open market my 1SBD = 1 US$ are worth a whole lot more, (eg x1000 more!) correct?
So what I (as a steemian) want is for the US $ to crash & become worthless on the world market, and I'd be rich.
So in some ways SBD is a 'hedge' against a failing US dollar.
Did I explain that OK? am I correct?
You're welcome mate. You're welcome to ask as many questions as you like but I'm no expert either. However SBDs are in now way a failsafe against US$ falling. Quite the opposite. SBD relies upon the US$ being strong in order to be worth anything.
If the US$ were to rapidly tumble then the relative value of SBD would tumble right along with it. So if a loaf of bread costs US$1000 then you'll need 1000SBD to buy a loaf of bread. Then rise and fall together. So if the US$ goes skydiving, then SBD goes tandom, which means we'd all be broke. Get it?
If you're interested, you can trade both steem and steem dollars for a variety of cryptocurrencies on Poloniex. I'd say increasing your voting/earning abilities is really the only point in having steem power.
Also, if you have any BTC you want invested by pro's who'll grow it for you at a tiny fee, may I recommend this mob:
https://mra.usitech-int.com/
(Don't forget to bookmark it.)
Nope. You are confusing Steem to SBD (Steem Dollars). SBD is tied to the USD for stability. Steem is free to move in either direction. It however has an unlimited supply and thus, inflation % is high causing the value of steem to decrease yearly. The rise in value of steem will depend on usability and a sharp increase in demand of the cryptocurrency along with a few other things.
Thank you for clarifying that.
Sin dudas excelente noticia para la comunidad Bitcoin.
😊
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Nice 😄
if they continue the segwit2x maybe it be the fall of bitcoin in the future... people are not ready to accept that segwit2x. most of people are still moving on from the changes that divided the bitcoin in 2 a months ago.
Yup, its a wise decision to call off that segwit idea. Its our advantage, now bitcoin surely will skyrocket... :)
yes but it will take some correction first befoelre that happen i guess.
This is truly great news now we can see some positive movements in the altcoins. Bitcoin hodlers could stop hodling and buy some steem :)
Yup, we just keep on steeming. And invest more esp to Alt coins :)
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