WHAT DOES THE UPCOMING AUGUST 1ST SEGWIT MEAN FOR CRYPTO CURRENCY.?

With the 1st August looming the market has been a bit uncertain so over the last few weeks we have seen the price of BTC fall to as low as $1'863 on Sunday. Today it stands at around $2'350 as it seems the BTC fork issue may have been avoided...

The problem BTC has had is the limited amount of transactions that can happen on the blockchain which has been limited to (1MB) every 10 minutes, so this in turn creates a backlog of transactions which slows things down.

This is the issue that needs to be sorted, so there is a couple of options for the future of BTC...

BIP 148, since miners would continue to mine BTC with non-segwit blocks this could cause a soft fork where the coin could split into two, one in which segwit is active & one which has not. This could have negative affect on the future of BTC...

This is why a lot of miners are backing the BIP 91 option which involves the introduction of SEGWITx2 & would stop the fork which is why this looks like the preferred option.

I think we can expect some more market volatility leading up to the 1st August but on the up side of this Alt coins at the moment are nice and cheap, so this leaves a good opportunity to invest while the prices are low...

In the long term cryptocurrency is still in it's infancy and looks to have a big future ahead of it, so even though in the short term there may be some market volatility the future of cryptocurrency as a whole looks very positive...

So for the long term hodlers I don't think you have much to worry about but it'll be interesting to see what August 1st brings...

Please re-steem, upvote & subscribe for updates :)