Knowledge Equals Profit!

Wow what an exciting weekend wasn't it! The bitcoin market fell down to $1830 per bitcoin down almost $1000 in a month. Thankfully we all awoke today with the market almost back to its original starting point of around $2500/btc and honestly everyone who is not focused solely on bitcoin got confused, myself included. The whole buzz came down on Thursday morning when I started to notice the market fall and I started to get happy because I foresaw a sale and thought of the down market as such and honestly it was a sale. The issues behind the price drop though came from the uncertainty of transactions between the users who own and use bitcoins and the bitcoin block-chain network which is outdated in a sense because at this moment is is only able to process no more than 4200 transaction between 10 minute block-chain cycles and recipients of bitcoins are only processing the higher transactions due to them getting a higher fee paid which means the rest of us are lucked out if we want something that cost less. Uncertainty comes with a question especially when that uncertainty has causation and that question is why?, in this example the market fell steady for two days on 07-14 - 07-16. On August 01, 2017 the block-chain network will be updated with something which would allow it to better the lag of transactions and also allow for transactions to properly work on an expanding network, basically a new hand has to be added to help turn the barrel faster. This news alone is what cause mayhem and everyone with 1 bitcoin saw a loss of about $800. Now the next question arises, what does this information do which caused the mayhem? Fear is one of the main reasons to why we all lost on those two days but the another big contributor is regulation which bitcoin seems to lack which is a two sided sword. Within the block-chain network once a transaction is secured and sent it can not be retrieved which is good because total security is done to protect that transaction but when money is sent to an unsecured place you basically lose all your money that you sent. The anonymity is what attracts many people to bitcoin but this recent upgrade will have many speculations thus the market fell.

Now I used the word something to describe the software or method of improving the transaction rate of the network because the community is dawned to choose a few methods. A hard or soft fork, Segwitt or Segwitt2x or UASF are the proposed methods to help improve the network but fear and uncertainty and the regulation these methods which bring just as much complication as they are fixing to the system that it is tearing apart the bitcoin community because of the different views individuals hold on which method is the best for all and that is the mayhem. I leave you with parting words for you to intake while this news sinks in, the market is volatile and it will adapt and it will overcome any insecurity it may have at first and the market will skyrocket shortly after it is completely working being able to process more transactions. Now is the time to get invested and interested in this market before you are left behind trying to win of everyone's dust so check out my previous post on how to get bitcoins and how bitcoins can make you money.

Here is a link to my friend Sunny on youtube who can explain the situation with more in depth details.