Bitcoin cash and bitcoin fight is killing steem
Hey steemers. Today i wanna apprise ya'll on what the heck is going on to alt coin and bitcoin prices since i have been into cryptos for a long time now.
Bitcoin Vs. Bitcoin Cash : an ugly feud
Bitcoin cash recently rocketed up and had knocked out ethereum's 2nd position in cryptocurrencies market Capitalization for a short time. Though ethereum has recaptured the 2nd spot but still, BCH is now ranked third in crypto world.
The real question is why the heck did that happen and what are the consequences of this sudden boost of bitcoin cash.
Well.. to put long into short, this is happening because many investors were hoping to increase the bitcoin blocksize from 1MB to 2MB and Segwit2x hardfork was the way to do that. Segwit2x was all set for launch until it was cancelled by devs (i think on 9th november). Hence these people are pissed and have started to put their money in bitcoin cash.
I was personally furious over this decision of cancelling segwit2x cause i was supposed to get 1.31 segwit2x against the same amount of my bitcoin holdings. However, other investors have started putting their money in bitcoin cash. Due to this, bitcoin cash is now at 1450$ while bitcoin has came down to 6000$.
What is happening to steem
Steem, well.. suffice to say that steem is not doing very well amidst all that crap.. i personally love steemit because it is more than a cryptocurrency to me. Its my blog. Its my life.. i love the environment here.. but i wouldn't be lying if i say that steem has kind of reached to the point of disparity. This coin does not deserve to be trading below 2$ at all.. and currently it is at 0.87$. It is such a shame. But i am hoping that it will rise up again
Hoping best for steem
Lets all pray together that this bad rub for steem finishes quickly..
Best Regards
Talia
P.S i just realized that this is my first post which is not about me. How the hell did i keep posting just about myself all that time before?? I am gonna start posting about other stuff too.. don't worry, i will still make pics posts too 😛😋
with this supply of steem , I don't see it reaching 2$ any time soon.
I suspect the politics and the movement of bitcoin towards bitcoin cash is a short term storm in a teacup.
Most likely Bitmain just wanted insane profits for R&D to compete with the new Japanese mining hardware we keep hearing about.
I might be completely wrong, but if you look at the size of the hash power shift and the speed at which it took place, it does seem a bit suspicious.
The truth is that no matter how much we all think we are experts in crypto markets, none of us actually are. Most of the giants had no clue on what the heck was going on with bitcoin cash the other day..
We can all just dip our fingers in this business and pray that we all come out as winners in the end..
I'm also worried about steem, I've only been there since 2 months, but I believe in Steem, Steem On !! thx, for your post.
2 months? I have been here for like 2 weeks and i am already loving it. Do not worry at all. Steem shall rise to its well deserved value. Its just a bad patch i guess
Hey there sweetie! We have a private friends chat server set-up now at Discord app!
You're invited! Just sign up here: https://discord.gg/kpxTvam
PS: upvoted your ass!
img credz: pixabay.com
Nice, you got a 97.0% @welcomebot upgoat, thanks to @talia69
It consists of $0.56 vote and $0.19 curation
Want a boost? Minnowbooster's got your back!
The @OriginalWorks bot has determined this post by @talia69 to be original material and upvoted(1.5%) it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
Hallo Talia, I'm a professional photographer I wold like talk with you about professional photographic work, please contact me on https://steemit.chat if you are interested. A nice day.
I like this post.... and I feel the same about steem