Daily News, Steemit Facts & Investment Opportunities (21/10/2017)
📰 Todays Crypto News:
It sounds crazy but Bitcoin really cracked $6000 Dollars on Friday and is currently trading as high as $6095. That being said I´m really curious how that might actually change after the hard fork next week as that will show whether the recent rise was only short or long term.
Besides the October Fork coming closer the Bitcoin world still remains in kind of a war situation in regards to the upcoming SegWit2x Hard Fork that´s scheduled for this November. Just now BitMEX announced to most likely not support the Fork, which means token owners would have to move their coins in order to actively participate in a potential split.
In the meanwhile Bitcoin.org threatened to denounce companies publicly, who support the SegWit2x Hard Fork but won´t treat the tokens as separate Cryptocurrencies afterwards. So you see it definitely remains interesting on the Future of Bitcoin.
< Source - Cryptocoinsnews.com >
💰 Todays Investment Opportunity?!
I´m already holding some OmiseGo but the current price of $7.19 or 0.00118123 BTC is just too tempting to not get invested a little more. Considering that the most coins are just down due to the latest BTC price rise I´m positive that they´ll come back as soon as it goes downhill again and sure it will as we´re talking about crypto.
Disclaimer
Please note that everything within this Post only reflects my personal opinion and Investments I did, well knowing the huge risks of the CryptoCurrency Market. It´s definitely not meant as an investment advise, so in case you plan to align your investments on any of the above provided information it´ll be fully on your own risk!
Steemfact of the Day
Did you know that the Steem Blockchain is capable of easily handling up to more than 10.000 Transactions per second. That´s more than 5 times the average of Visa Transactions per second, which is about 2.000 at the moment.
So you may see that our Network isn´t just some chain but one with huge potential in its code, which might theoretically even handle up to 180.000 Transactions per second on some very good nodes.
Right now we got more than 600.000 Transactions per day happening on the Steem Blockchain and I guess you might know that other chains can only dream of such big numbers ever to happen, while we are just at the very beginning with about 7-8 Transactions per second on average.
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Though forks may cause much strife within the community and cause FUD for anyone wanting to get into crypto, I believe it is part and parcel of the growth and the evolution of any given cryptocurrency and even eventually, tokens. There will always eventually be differing ideas within an entity, and the entity will soon enough become 2 entities.
The free market will decide for itself which is more relevant and useful, and that's where the money will flow.
Eventually, it is a good thing for the industry as a whole as a another competitor enters the field and throws their ideas into the mix to come out with good solutions!
Well IMO Bitcoin will never be widely accepted in case it keeps splitting up itself over and over again. Majority of people wants to have a stable investment and not one that will change continously.
But in regards to the tech BTC will anyways currently not be able to become a currency. Transactions are too expensive and the processing times too long.
Well in that regard you are right!
It began with the differing opinions within the Bitcoin community in regards to whether Bitcoin should become a widely used currency for regular day-to-day transactions, or for it to be instead, as a valuable asset class, such as gold. I would much rather it be used for a day to day wide-spread use currency as the issue with Bitcoin is it's lack in intrinsic value.
It's intrinsic value however, could have been derived from it's use as a currency. However, since there is such a differing opinion on what Bitcoin should be, why not both?
As such, I see forks as pain but necessary processes the growth and evolution of Bitcoin and cryptocurrencies alike.
Cheers!
OmiseGo with the current price of $7.19 is way too high for most people to get interested in, they can choose a cheaper investment at 20 cents, and when it gets to $2 they can cash out 10 times the initial investment, OmiseGo would have to reach $71.90 to do the same.
The 20 cents investment can move quickly, but OmiseGo would take a while I think.
Thanks any way for your info.
Well it always depends on your focus and the risk you're willing to take. I always tend to look on the likely return in % rather than hoping that a small no name coin will rise 1000%.
% is important to me also, the return of $1 on a 20 cent coin would be massive, but on a $7 it would be a lot lower.
Whenever You invest $10 and a coin rises by 50%, then you still get $5 regardless of the Coins Price ;) Same for BTC and that's up to 6000 already.
When you invest 10 cents in a cent coin and it rises by 10 cents it rises by 100% if you invest $7 and it rises by 10 cents you get about 1.5%
OmiseGo is the one I go for right now. I wish you good luck with your coin though, but keep in mind, whenever your coin loses 10ct it's worth nothing while OmiseGo is only down 1.5% ;)
Cool quite a good chat we had there, I wish you luck with OmiseGo.