Chain Death Spiral

As I have touched on in a previous post there are several known risks with Bitcoin Legacy aka Bitcoin Core right now. You can read my previous post here:
https://www.jaredschlar.com/2017/11/now-that-bitcoin-segwit2x-fork-passed.html

Bitcoin Legacy has some problems:

Bitcoin Legacy - Chain Death Spiral. If you want to read more about this potential problem from an expert visit - https://bitcoinandtheblockchain.blogspot.com/2017/08/chain-death-spiral-fatal-bitcoin.html

Bitcoin Legacy - Severe network congestion. There are about 58MB in the pool right now for Bitcoin Legacy vs Bitcoin Cash which is .1MB.

Bitcoin Legacy - Civil War with BCH and other contentious groups. There may be another fork coming in January. We shall see.

This brings up a good point which is unless you are 100% confident in holding one coin, it’s best to diversify into multiple coins.

Interested in learning more? Explore our Connecticut SEO Agency and delve into our Bitcoin Blogspot for a wealth of free, original content. Don't miss out—share this post, and thank you for reading!

Comments

Post a Comment

Popular posts from this blog

Unlocking the Potential of Solana

Image
  In the ever-evolving landscape of blockchain technology, Solana has emerged as a powerhouse, boasting an impressive capability that sets it apart from the crowd – high transactions per second (TPS). In this article, we'll explore what makes Solana a leader in TPS and the implications it holds for the broader blockchain ecosystem. Understanding Transactions Per Second (TPS) TPS is a crucial metric in the blockchain realm, representing the number of transactions a network can process in one second. Traditionally, blockchain networks like Bitcoin and Ethereum have faced scalability challenges, struggling to handle a large number of transactions simultaneously. Solana addresses this issue by pushing the boundaries of TPS, offering a solution that could revolutionize the way we perceive and utilize blockchain technology. The Solana Advantage: Breaking Speed Barriers Solana's claim to fame lies in its ability to achieve incredibly high TPS, far surpassing many of its counterparts.
Read more

Black Tuesday

Image
  Image credit to: @marcjonesrtrs See a snapshot of Chinese property sector bonds crashing. This contagion will spread. As my Financial Advisor friend once told me, the bigger the bubble, the bigger the crash. Everything is not well in finance right now. In Bitcoin, I see "Buy the rumor, Sell the news" happening as the Bitcoin Futures ETF launches today. This ETF is NOT good for retail investors. @CryptoWhale As Crypto Whale predicts, Bitcoin will crash just like it did in 2018 when the CME Bitcoin Futures was launched. See image below. @CryptoWhale   If you lived through 2018, then you know the pain I am speaking about. Once the margin calls start, it is too late to get your money out. On the Investment front, I am HODLing GME and SPXS as crash insurance. It is a type of barbell. The fundamentals of GME keep improving daily. Not too mention all of the new hires they acquired from other tech companies recently. You can view the chart to see the GME Tech Hire Database below. A
Read more

The Possibilities Are Endless With Bitcoin Cash And SmartBCH

Image
  Typically, when we talk about Bitcoin Cash (BCH) and the SmartBCH side-chain we imagine that they are used to create currencies/tokens and trade them on decentralized finance platforms (DeFi) performing swaps, exchanges and farming between different assets, thus earning profits from risk taking. SmartBCH has infinite possibilities and can be used to create Smart Contracts that work and have practical use in the lives of people and decentralized financial entities. What is the SmartBCH side-chain capable of creating? Practically everything. That's right, SmartBCH can clone everything that was made in the Ethereum (ETH) network and even more, creating things that can still be explored using smart contracts created in decentralized blockchains. If for example, we saw finance platforms being born on the Ethereum network like those that created smart contracts and offer decentralized loan services using cryptocurrencies as collateral, the SmartBCH network may also have projects focus
Read more