Bitcoin split is on the way - Part 1
I'm very surprised by the rhetorical support of hardwares (or hardcuts) for Bitcoin, especially for many Bitcoin fans who believe that this is a avoidable thing or not a bad thing. I understand, but you make a mistake. I know that everyone is tired of the issue of scalability. In this article, I do not want to go into technical details, but instead, I want to clarify the non-technical discussions for a solid split, and clarify the turmoil and effects on the market; in fact, if the gap between Bitcoin Core and Bitcoin Unlimited Or division.
Currency analysts have stated that they will accept BTU as an altoquin in the event of a severe split, this scares me because an industrialist knows what Altoquin is and ordinary people do not know from outside the industry.
I had predicted Bitcoin would see $ 300 a year before the end of this year, but not when the hard drive exists.
Keep in mind that my goal in this post is to change the mentality of people in the support of the hardforward, controversial, hard drive that eventually comes up with another bitcoin. I'm trying to change the mentality of people about this issue because I believe that we should refrain from any such incident at any cost. In fact, if any of the following scenarios are executed, we will be in trouble. If you agree with the logic below, translate this post to Mandriva or any other language and begin to persuade extractors and community not to consider this, even if Bitcoin Unlimited is doing Hardbox.
Even after the big bug that occurred a few days ago at Bitcoin Unlimited, a large number of nodes are going to support it and signal it. I know that many people believe that this will not happen and that they may be right, but we should not ignore the continuous and growing threat to the ecosystem, which is why I am talking about it.
Bitcoin's largest asset is its brand awareness
Undoubtedly Bitcoin is the only brand and the strongest brand in the world of currencies to encrypt. I believe Bitcoin would probably have had between $ 2 billion and $ 5 billion in free advertising over the years in the media. Hardwholesale or as you said, hard-hitting can create two brands of Bitcoin, which necessarily brings some brand credibility to Bitcoin Unlimited.
As soon as the hardforce happens, we get confused in the brands that will be terrible.
Bitcoin network security comes from the hash or computational power that the extractors provide. This is driven by bitcoin prices, the higher the bitcoin price, the higher the network hash size. On the other hand, bitcoin price rises will be driven by market demand. Finally, the demand for the market for public relations and the media and the famous narrative, "Bitcoin is the first and only true encrypted currency, is the right place for long-term investment." If we deal with these issues, we should wait for its negative consequences.
When the media announced in 2014 that bitcoin is dead, retrieving the price took a lot of time.
If there is not a majority of support for the Bitcoin Unlimited, it becomes an altoquin. What does this matter mean?
If 35 to 50 percent of the extractors are destroyed and an altoquin is produced (Bitcoin Unlimited), we will have two quins. One Bitcoin or BTC and another Bitcoin Unlimited or BTU. It can be argued that the BTU is not bitcoin, but it's likely that ordinary people will call it Bitcoin. For example, if the average person purchases a bit of a currency that he thinks is Bitcoin to buy a gift card from the Gyft site, and then find out Bitcoin has bought a mistake, you can imagine that the retail support department like this What problems the site will face? All or most of them will remove the Bitcoin purchase option from their website, unless the business is the only bitcoin.
Just as the world of cryptos (crypto) is intelligent to understand differences, ordinary people even hardly understand Bitcoin; explaining to them and understanding what the difference between BTU and BTC is going to be a big challenge. .
Some other important points should not be forgotten: Roger Ver (the Bitcoin Unlimited force known as Bitcoin Jesus) owns Bitcoin.com (and some other strong domain names) as well as owns several hundred thousand bitcoins ( Apparently about 300,000 bitcoins).
When the bitcoin splits up, anyone who has BTC receives the same amount of BTU. As a result, according to industrial rumors, Roger will have 600 Kvins (300 BTC plus 300 BTUs).
As soon as bitcoin splits up, he can legitimately and legit Bitcoin Unlimited using Bitcoin.com; for many people who do not have a thorough and profound knowledge of these issues, this website is considered a reliable source. And on the other hand, it has a high ranking in search engines like Google. Eventually Bitcoin Unlimited will become Bitcoin.com. My first company was in search engine marketing and I am well acquainted with this world.
If there was a hard drive and Roger wanted to pump Bitcoin Unlimited (raising its price), he could sell all his bitcoin to the market (all his BTCs). I do not even want to guess that moving more than 300,000 Kevin over a short period of time can affect prices, after a controversial hard drive, and when new money investors are on the sidelines. This happened after the ether split, for the classic Ether (Ether Classic) ether; the Ether Foundation sold 90 percent of the coins, causing a drop in prices. The same danger will make beginners fill their tanks from the BTC. If Roger wants to eliminate the bitcoin price and its legitimacy, there's no reason not to be afraid of this, and the market starts pricing in the face of such a risk.
Roger will not be the only one to reduce the BTC's price, other loyalists to the BTU, which have two coins, will do the same. In contrast, all long-term BTC holders receive BTU as much as the BTC. Most BTC holders will try to lower BTU prices to eliminate it. Considering the importance of the BTC as a reserve asset in altoquin, many traders can use the price gap to shorten the BTC and raise their altoquin price.
In short, none of these scenarios or any other scenario that I think will have good performance for Bitcoin in the markets or the media, and this basic division means that by injecting more Quinns into the market, both in both The party will increase.
The main thing about Bitcoin is a long-term investment venue is that there will eventually be only 21 million kwins (coins). Stability, security, and scarcity are distinctive features of Bitcoin, and Hardback will attack these features, and will have a huge impact on the price. After hard drive, we will deal with 33 million Bitcoins, and we are waiting for 42 million Bitcoins (21 million BTCs and 21 million BTUs); there will be debate over the coming years over which one There is legal Bitcoin. We also have to wait for legal use of this brand, as happened for the Ethereum Classic Investment Trust.
Suppose someone says that I want to buy Bitcoin; the first question asked after this sentence is: which one ?!
After this question, the next big question is, what if one of these two quinns is still fierce or branched out? Then we will have 63 million kwin, and if any of them will be fooled again? And the story will continue.
You can read the rest of this article in the next section of the study.
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