Let's Talk About Soft Fork and Hard Fork.

in #bitcoin7 years ago (edited)

How Can We See Opportunities When There Is Chaos?

July 16, 2017   |   By  JJ Garcia

lion st.jpg

Before we go into deep waters, we need to do a short explanation of soft fork and hard fork. If a soft fork goes through before August 1st, we will get a new and improved Bitcoin. With this new and improved version of Bitcoin, you will be able to do faster transactions. The big Problem that Bitcoin is having right now, is that it is to slow and expensive to make a transaction. Soon Bitcoin will become better. Litecoin went thru the same thing but, what we have learned from this experience was when Segwit was implemented in Litecoin, the price has doubled. If the same scenario plays out as Litecoin, then do expect to see new high records for Bitcoin.

A hard fork is more than a drastic approach, but it is still a new improvement. What a hard fork will do is split Bitcoin in half. This is what will look if we get a hard fork.

Untcoerd.jpg
In the Bitcoin Core team, there has been rumors that it will probably keep the original Bitcoin name. We need to understand that it does not matter which road Bitcoin takes, there will be major profits because the technology has not changed, it just got much better. Then why is there so much fear if the technology is getting better? One of the reasons is, because people do not know which coin will devalue the most, and who will be the leader of this race. So far, people are more inclined to Bitcoin Core but it can change. This is not the first time that a hard fork happens, now we have Ethereum and Ethereum Classic, a great example of a hard fork plus the the price of Ethereum had sky rocketed since the hard fork.

The only thing that we have to be careful about is the disinformation and fear that is out there. I had been digging but in the end, I had ended up at the dead end, there has been too much disinformation. What we need to know is that social media has people that would want to create fear and chaos, for the purpose of purchasing at a cheaper price and making a profit. It is always important to take the necessary precautions, so you can protect your investment, I do see a great opportunity it is a battlefield out there. There is a higher risk, but it is still a great opportunity, always remember to invest what can you afford to lose.

Sort:  

Hello @jjgarcia, upv0t3
This is a free service for new steemit users, to support them and motivate them to continue generating valuable content for the community.
<3 This is a heart, or an ice cream, you choose.

:)


R4ND0M:
6086 1891 6275 4999
7266 9328 8105 7450
4442 8421 7531 5706
1029 2278 6145 5635

You've been UpVoted via the UpVote Experiment 002 Bot. Depending on my VP & the price of STEEM you should get a $.01-$.03 for your trouble.
Read more about this experiment here.

Thank You - @blueorgy

Congratulations @jjgarcia! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

The Steem community has lost an epic member! Farewell @woflhart!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.21
TRX 0.12
JST 0.028
BTC 66304.75
ETH 3568.69
USDT 1.00
SBD 2.59