Hard Forks and Reality

We are still into a ‘delayed’ spring weather thing here in Nova Scotia where a persistent cold wind keeps blowing although the amounts of snow we are getting is smaller… just enough to blanket the ground lately.

In the Markets, specially for those in mutual funds … looks like some of the dudes who have been around for decades are predicting a kind of pull back in December … how severe a crash? No one knows. Last one was about the free fall in the price of Oil last year but back to normal for awhile now where companies and investors/share holders adjusted to the low oil price over a few months in 2016.

So, probably something to think about before that time and ‘if’ it happens. Folks try to anticipate by selling or ‘hold’ during these events, ‘if’ they occur. Then resume afterwords … buy low, sell high. Reality can come quicker than realized when for example, a drop does come and a portfolio is down a few thousand. It always bounces back over time but some investors still panic.

Here, with the online ventures, I’ve totally backed off now on HYIP’s after 2 solid months of decent earnings. Too many sites are collapsing now and I’ll wait until things stabilize in that niche.

Now that a lot of Admins and program managers got into the Bitcoin or ‘Bitcoin only’ opportunities, there’s been something brewing and relates to an earlier post I wrote about high fees and delayed transactions.

Those who knew about this awhile back with large amounts of BTC, have sold off a lot of their bitcoin or holding for now … storing it in hard drives.  I guess this is why major banks haven’t looked at Bitcoin yet because individual Bitcoin Miners are the people behind making all these transactions happen in Coinbase and Blockchain and get paid Bitcoin in return for their service.

The system is getting bogged down they say with an increasingly amount of transactions and that results in taking longer to get paid for these Bitcoin Miners. In today’s world, folks want things done yesterday when it comes to money and products so the need for Bitcoin to fit in with that is the topic of discussion with the key players in the Bitcoin market.

The chatter today, is that there will be a split in Bitcoin, resulting in two Bitcoin digital currencies going against each other like Pepsi and Coke. In this case, it will be Bitcoin Core and Bitcoin Classic while voting is currently taking place on all that.

Two Bitcoins will cause competiton and folks will try for the lowest fee. I certainly will … in what they call a ‘Hard Fork’ or a fork with two prongs. All this will cause some instability until resolved but the talk is that Bitcoin users will be better off in the end keeping the exchange rate up there. Time will tell as always.