Bitcoin vs Bitcoin Cash Civil War
Hello fellow steemians..
Bitcoin Vs. Bitcoin Cash
Bitcoin cash is soaring through the sky and has taken over ethereum's 2nd spot in cryptocurrencies market
Capitalization
But why did it happen?
Short version is that this controversy is happening because many investors who had their eye on Segwit2x hardfork (that was supposed to increase the blocksize to 2MB as opposed to current 1MB) was cancelled. Segwit2x was all set until it was called off one week prior to launch. People are now absolutely furious and have started to put their money in bitcoin cash. Due to this, bitcoin cash has skyrocketed to almost 2000$ while bitcoin has come down to 6000$.
Update :- Bitcoin cash has come down to 1335$ while bitcoin has boosted to 6400$
Screenshot taken from : coinmarketcap.com
What does it mean for Steem?
Steem, which was recovering after cancellation of segwit2x launch and had reach to 1.06$, got smacked in the middle of this bitcoin and bitcoin cash fued and dropped to as low as 0.83$. However, now it is again in recovery phase and currently soaring at 0.89$.
Screenshot taken from : coinmarketcap.com
Being an absolute lover of steemit, I am absolutely furious that when steem was finally rising to the value it deserved, this stupid fued between 2 giants had caused it to crumble again.
Conclusion
I dont know where this war will go to but steemit, for sure, has taken a toll because of this. Lets hope for the best that steem rises again from its ashes like a bloody phoenix...
Let me know what do you think about this. Kindly consider to upvote, resteem and follow
Regards
JBN
This incredibly ugly fight will lead to loss of so much progress cryptocurrencies have managed to make.
Yes.. absolutely.. being steemians, we are taking the actual heat ..
and look at that. My vote value is now 0.01$ 😁
img credz: pixabay.com
Nice, you got a 67.0% @bubbleburst upgoat, thanks to @jbn
It consists of $2.18 vote and $0.47 curation
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by jbn from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.