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Showing posts with the label bitcoin legacy

If Crypto Markets Are Precious Metals

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I'm going to take some heat for this post. But I'm going to post it anyways.

Bitcoin Cash (BCH) - Platinum

Ethereum (ETH) - Diamond

Litecoin (LTC) - Silver

Bitcoin Legacy - Bronze

There are probably some other great examples. Feel free to tweet your ideas to me. https://twitter.com/jaredsc

Chain Death Spiral

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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://jaredschlar.blogspot.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.