Bitcoin Hardfork in the Eyes of a Newbie
So, I have been ramping myself up to buy into Bitcoin lately. Steem has been my starting point into Cryptocurrency. I started my Steemit journey with the help of @joshsigurdson, and @jerrybanfield. Josh brought shone the light on the Steemit idea, and Jerry showed me how to use it, and suggested it's huge potential. I have learned a lot from Steemit, so far, and I still have faith that it has great long term potential. I learned to mine Gridcoin with the help of Steemit, and several Steemit users including @dutch. Not just that, I read a LOT of posts, and have learned so much more. It has been quite a trip!
Up until now, I have not put any of my own money into crypto. Other than my electrical bill. I have only put in my time, and effort. Largely, my effort has been in the form of my photographic archives.
So, in the last couple days I have been setting myself up to buy Bitcoin. I set up a wallet, and joined QuadrigaCX for funding myself. I was so close to pulling the trigger!
This morning I started watching the markets. I plan to time my initial buy in to a significant dip. It only makes sense, even for a newbie like me.
As I was researching, I became aware of the upcoming bitcoin hardfork! Now I'm confused, I have opened a door containing a whole new room of knowledge that I need to know before I buy in.
The hard fork has nuances and intricacies that even the guys who have been doing this for years and years can't even predict, or explain. I think I am going to stall my buy in, even though I might be missing out on some huge opportunities. I think I can use the time productively to learn about forks, and their ramifications.
When the fork is done, I'll have to decide which fork I want to follow. If any.
What do you guys think about it? What should a newb do?
Should I invest in something non-bitcoin? I love the idea of Steem and Steemit, but there's a lot of in-fighting going on behind the scenes, and that destabilizes the whole scheme a bit. Perhaps too much for investment. Is it strong enough to weather the storm, and come out the other side? If the developers would update the Steemit site with more features, and eliminate the latency issues with the DOS attacks and what-not, I could see it really taking off. Would that be enough? The groundwork has already been laid. Even with what we have got, it has really been adopted by a lot of people. Steemit results are regularly showing up in my google searches for non-steemit related topics.
Gridcoin is awesome! You can mine it without asic miners, so it's already got what gridcoin wishes it had. It is also doing proof of research, instead of proof of work. Which means that I get to help cure cancer, and find planet killing asteroids, crack WWII german enigma codes, and other stuff. WAY cooler than doing bullshit mindless number crunching. And anyone can do it with a PC, and step up their game with a GPU.
So, ehem... In conclusion, I'm still a confused newbie. Just like I started back in June. But I'm still having fun! That's the main thing. Something that might change once I have some skin in the game. Maybe I should just stay out of it... Hahaha!
Anyway, photo for attention. My daily driver. Peace!