Before I proceed, on the off chance that you are yet to get the gist, here are some references:
Now to my epistle…
Three years back, bitcoin had a nice run, thanks to a confluence of crypto malfeasance and wide-eyed optimism. There has been a calm in the popular press, but capitalists, entrepreneurs, traders, and speculators never ceased to work towards the promise of a secure, fast, and cheap payment system that cuts out fee-driving banks and credit card companies.
Following Bitcoin’s lead, they’ve developed scores of other cryptocurrencies, and while digital coins aren’t part of most people’s everyday lives today, it’s increasingly clear that they will be, sooner or later ( watch out for its dominance, you would say I, SunkyClark said so).
Because bitcoin lacks a central authority owing to its democratic structuring, a huge number of stakeholders are debating on how to solve this scaling crisis, which hinges on an obscure technical parameter. In response, the bitcoin community has split into two factions that spearhead mutually incompatible solutions while accusing each other of incompetence and conspiracy. The thought of a split would have appeared hilarious years back but certain things have fallen in and out of place making it difficult place on the track.
However, a split would mean a nod of the head to the obscure truth that Bitcoin was too successful for its own good. Before now, there was no partiality as to whose transaction is processed more quickly but in recent times, such is the case where one has to pay a transaction fee and the more fee you pay the faster its processing. So a split would make it a lot cheaper and faster. But again, this is just a pro lying in a pool of cons. As a result of the looming
As a result of the looming split, there has been a bloodbath of other ‘barely surviving coins‘ which in one way or the other bank on the ‘kingpin’ of cryptocurrencies. Panic in the market has forced people into wiping their bitcoin wallets clean which has had a massive impact on the price and value of bitcoin as held against the dollar.
Whether or not , the split is going to favour we the bitcoin traders and dealers of the currency still remains a mystery. We can but only hope.
P.S: Wiping out your wallet is not a viable strategy to survive these darktimes, I personally, will suggest holding in form of USDT as it is very stable but again, you are free to make your decisions.