Segwit's activation signals that self-managed cryptocurrency works

in #segwit5 years ago

The market - without any government - has worked out a way to upgrade Bitcoin software. This upgraded version, called Segregated Witness (Segwit), is expected to enable a number of new ways of transacting, and improve the speed of transactions.

The market's ability to do such a major upgrade - in the self-interest of the participants - strengthens confidence in the ability of these currencies to overcome teething hurdles.

There is a mistaken notion that these currencies are inflationary merely because so many can be created. The fact is that these currencies are like internet companies. There can be thousands of them but only 4-5 will become really big. Each company (currency) is focused on a niche business. The more I study this sector, the more convinced I am that the banking and financial sector is headed for a total rout. Even gold has become largely pointless.

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