While Bitcoin Turns Into A Civil War This Is What Else Is Going On
Well I have to say this bitcoin civil war right now is doing no good for bitcoin or anyone. This attempt now to overthrow bitcoin and instead have bitcoin cash is honestly murder on everything that has been built around the bitcoin blockchain so far and if it continues will cause large investors to back out and say yup told you it was just a bubble and completely destroy both bitcoins. This is what happens when you cry like babys and start a civil war over a 1 MB block that takes 3-6 transactions per second and gives you a whole whopping 6-10 transactions. Like SERIOUSLY people...
Anywho...
With that war going on right now here is what is going on with other coins and why you need to start watching them.
Dash
Dash works a bit differently the bitcoin and ethereum however it is a rather solid system of masternodes and miners where masternodes have the voting power. In early 2016 Dash had huge support for going to a 2MB block at 99% however has not been implemented as many looked at is as some gimmick to bring attention to the coin and thats it. Well in a few days the 2 MB block should be going live along with a vast array of other updates.
Dash main goal is to make the system so stupid simple that even your grandma could use it. Honestly that is what is needed with crypto is an easy to way use it so it can be adopted world wide just like a credit card. Put the card in swipe and buy.
Ethereum
Ethereum continues to sit quietly in the background but all the while massive updates are happening to it to make it one of the best crypto currencies.
ZK-STARK is soon to be getting an update which will help prevent the risk of quantum computers trying to take over the network should it be traded on stock markets. I'll admit I don't understand much about how quantum computers work but I am totally intrigued now! (New research project and possible post coming up)
Soon it will be implementing the Raiden Network which will use payment channels similar to bitcoins proposed lighting network.
Bitcoin
So why is bitcoin still strong and healthy and Bitcoin cash getting a pump right now?
Simply put Bitcoin cash is in the news and confusing remarks have come from blog posts. Bitcoin classic said it is shutting down and supporting bitcoin cash. Well whats confusing to people is they thing BTC is bitcoin classic BUT ITS NOT! Bitcoin classic was a hard fork of the bitcoin network back in 2016 that was a total failure.
Also bitcoin cash is about to hard fork causing a pump as people believe they are going to get free coins again. Well I hate to break it to you this is a planned fork with 95% support from the miners meaning that a hard fork will not happen and no free coins.
Bitcoin is moving towards the lightning network where lightning handles transactions off of the block chain. So instead of 3 called to bitcoins block chain once implemented it would use 1 instead thus effectually clearing up clutter and allowing bitcoins same 1 MB block to do 9-16 transactions per second instead of bitcoins cash 2MB which could do 6-12 transactions.
Now you might think that doing transactions off the block chain sounds bad, however when you look deeper you realize it happens millions of times every day. For example when you trade on exchanges calls are made outside of the block chain and no call is made to bitcoins blockchain till a withdraw of those funds to another wallet takes place.
- All images are pulled from royalty free sites such as pixabay.com
From these coins that you exposed today, the most I like Ethereum. It has great updates and support and after its last hard fork it made me gain much more trust in it!
When Bitcoin goes up, alts suffer. When bitcoin goes down, alts suffer. When bitcoin plans a fork, alts suffer. gotta keep thinking longterm, deep breaths haha
yep, but after hard forks alts go up usually, and we saw that after SegWit2x got canceled :D
plz upvote my post.
don't ask for upvotes, create good content and you will get them
Nice post. Thanks for sharing
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STOPOne thing I need to point out @bitcoinflood is that there was a lot of uncertainty around bitcoin with segwit2. The fact that was cancelled provides clarity. Developers and projects that were stopped are being re-started. This is huge.
Bitcoin will prevail...this civil war is just noise. Do you really think xapo is going to change its business model? How about MIT and all other institutions that are putting things up on BTC?
Ultimately, I see these blockchains rolling back in...the forks are a joke.
I like Ethereum coin mostly.