Hello everyone, as already many know this month was complicated for bitcoin, in this post we will talk about what was happening and what will happen in the next days.
Let's start ...
The bitcoin is falling a lot of price for the supposed Hard Fork, going from $ 2400 dollars at the beginning of the month to the value of 1960 in just 15 days, one of the largest drops in its history.
Many units are sold and sold because of the uncertainty and fear of novice investors
Can you divide it in two? Yes, you can and if you do not reach an agreement this will be done on August 1st. It would be divided into Bitcoin Core and Bitcoin Unlimited
Why is it divided? The fault is bitcoin's supposed 'civil war'. After two years of silent confrontation, digital competing groups playing key roles in the rise of bitcoin set out to adopt two rival software upgrades.
What does each update offer? On one side are the miners, who use very expensive computers to verify the transactions and act as backbone of the blockchain. They propose an increase of the limit of the dimensions of the block.
On the other is Core, a group of developers who maintains bitcoin virus-proof software. They insist that for a greater fluidity of blockchain traffic it would be necessary that part of the data be handled outside the main network.
Is an agreement possible? If it is, what hinders the consensus between both parties is the lack of a central authority
The dates for the events that change to bitcoin as we know it are the following:
-July 21: SegWit2x software is released and supporters start using it.
-July 21 to July 31: The community monitors how many miners deploy SegWit2x: If more than 80 percent consistently deploy it, it should signal the adoption of SegWit throughout the community and avoid a split, at least for now.
-But if most do not deploy, expect the anxiety within the community to grow as the focus shifts to the August 1 deadline.
August 1: UASF is deployed by its supporters, who begin to check if bitcoin transactions are compatible with SegWit.
For now nothing else is known and only wait and see what happens. I hope the post will be useful and inform you about what happens every day with bitcoin. Until next time !!!