I am not even sure what this means..
Breaking News: Bitcoin May Not Survive
By Jason Williams
Written Thursday, August 3, 2017
The inevitable finally happened. Bitcoin is totally forked... Wait, that's not right (well, not exactly)... Bitcoin has totally forked.
bitcoin fork
On Tuesday, a small group of miners — programmers who basically operate the Bitcoin network by producing the coins — initiated what’s called a “fork” in programming speak. It split the underlying blockchain into two different paths and essentially created a new digital currency.
Bitcoin! Part Deux
The new currency is called Bitcoin Cash. And it’s racing upwards in value. It started the day on Tuesday at around $146. As I type, it’s up as high as $600 according to coinmarketcap.com.
The slow start was likely due to the small number of programmers involved with the split. But as the price continues to rise, so will the number of miners willing to shell out time and resources to create more.
What this all means is that Bitcoin now has a new competitor. And Bitcoin investors have a choice to make. Will they continue to trade the original currency? Will they switch to the new one? Or will they pump money into both?
Your guess to the answers to those questions is as good as mine. So, I’m not here to try and hypothesize on which currency will be the winner.
Permanent Yet Transitory
I want to talk about the future of digital currency as a whole…
Bitcoin is the grandfather of digital currency. It’s the oldest and, currently, the most valuable. But as with any original technological advancement, it’s not without its flaws. That’s the reason the Bitcoin universe has been debating a fork. And that’s the reason this most recent one might not be the last.
Let's be honest, Bitcoin has been on a wild ride since its debut back in the late 2000s.
bitcoin wild ride
But all good things eventually come to an end...
And right now, the future value of Bitcoin is in limbo. It may continue to go up. It may crash. Nobody really knows.
Just like America Online and Metacrawler, it paved the way for something new and groundbreaking. It proved that the world wants a digital currency. But just like those two former internet behemoths, it’s destined for obsolescence too.
New currencies will be created — whether via forks like on Tuesday or completely new alternative coins (altcoins). And the creators of these currencies will take a lesson from Bitcoin and program out all the flaws from the original.
Breaking News: Bitcoin May Not Survive
By Jason Williams
Written Thursday, August 3, 2017
The inevitable finally happened. Bitcoin is totally forked... Wait, that's not right (well, not exactly)... Bitcoin has totally forked.
bitcoin fork
On Tuesday, a small group of miners — programmers who basically operate the Bitcoin network by producing the coins — initiated what’s called a “fork” in programming speak. It split the underlying blockchain into two different paths and essentially created a new digital currency.
Bitcoin! Part Deux
The new currency is called Bitcoin Cash. And it’s racing upwards in value. It started the day on Tuesday at around $146. As I type, it’s up as high as $600 according to coinmarketcap.com.
The slow start was likely due to the small number of programmers involved with the split. But as the price continues to rise, so will the number of miners willing to shell out time and resources to create more.
What this all means is that Bitcoin now has a new competitor. And Bitcoin investors have a choice to make. Will they continue to trade the original currency? Will they switch to the new one? Or will they pump money into both?
Your guess to the answers to those questions is as good as mine. So, I’m not here to try and hypothesize on which currency will be the winner.
Permanent Yet Transitory
I want to talk about the future of digital currency as a whole…
Bitcoin is the grandfather of digital currency. It’s the oldest and, currently, the most valuable. But as with any original technological advancement, it’s not without its flaws. That’s the reason the Bitcoin universe has been debating a fork. And that’s the reason this most recent one might not be the last.
Let's be honest, Bitcoin has been on a wild ride since its debut back in the late 2000s.
bitcoin wild ride
But all good things eventually come to an end...
And right now, the future value of Bitcoin is in limbo. It may continue to go up. It may crash. Nobody really knows.
Just like America Online and Metacrawler, it paved the way for something new and groundbreaking. It proved that the world wants a digital currency. But just like those two former internet behemoths, it’s destined for obsolescence too.
New currencies will be created — whether via forks like on Tuesday or completely new alternative coins (altcoins). And the creators of these currencies will take a lesson from Bitcoin and program out all the flaws from the original.
'Everything works out in the end,,,If it hasn't worked out,,it's not the end'
https://twitter.com/twitter/statuses/957208055766241280
https://twitter.com/twitter/statuses/957208055766241280
