Last we heard BITCOIN was a PYRAMID SCAM. I don’t know that much about it, except IF done by the BAD GUYS, and I’m pretty sure it was started by THEM. I remember a BILL GATES video out there somewhere where he claimed that everyone will have and want Bitcoin. We all know what GATES is and turned out to to be and I trust bitcoin like I trusted Bill Gates = NEVER EVER !!! Last I heard GATES was dead and they tried to clone him again ? It sounds like all their other PYRAMID SCAMS. The thing that always bothered me about that bitcoin thing is, you have NO control over it, You CAN’T hold it in your hand like a GOLD BAR and there really is NO guarantee that it cannot be hacked. Seems like it just might be another of those derivitive type things like they turned our mortgages into without any gold-backing. In other words a; recycling, dividing, and splitting and multiplying “original said money” out of thin air perhaps ? GEE sounds like our current FIAT money banking scams, doesn’t it ? I don’t know EVERYTHING but I do KNOW that there seems something FISHY about bitcoin. Like it’s probably just another BANKSTER SIDE-DEAL to scam us all.
Tuesday, August 1, 2017
Bitcoin Splits in Two amid Feud
(Richard Trenholm) Bitcoin Cash is a new strand of the cryptocurrency launching Tuesday in a “hard fork.”
Related Article: Massive Bitcoin Liquidation Likely to Happen Before August 1st, Warns Crypto Currency Expert
Source – CNET
by Richard Trenholm, August 1st, 2017
Bitcoin is dividing in two. Disagreements about how to operate the cryptocurrency have led to a new strand called Bitcoin Cash, which is breaking off from the bitcoin system.
Bitcoin Cash launches Tuesday in what is known as a “hard fork” from bitcoin, a virtual currency based on peer-to-peer transactions without any central authority or bank behind it.
The new offshoot is a response to the increasing popularity of bitcoin, which is struggling to deal with massive numbers of transactions with its underpinning technology. The main bitcoin currency is adopting a system called Segwit2x that moves transactions out of the current blockchain, while bitcoin Cash will use bigger blocks within the blockchain.
Only some bitcoin exchanges will support the new cryptocurrency, but some bitcoin owners will find their stash automatically cloned into both types. It remains to be seen what the schism will do to market values.
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Monday, July 31, 2017
Massive Bitcoin Liquidation Likely to Happen Before August 1st, Warns Crypto Currency Expert
(Ethan Huff) There’s an upcoming fork in the road, and the popular online cryptocurrency Bitcoin is headed straight towards it. It could finally be the breaking point that Bitcoin needs to set a definitive standard for trading and transactions – or it could be an absolute nightmare that leads to a collapse. Not knowing makes Bitcoin an extremely volatile holding at this point in time, and a cryptocurrency expert has predicted a massive sell-off by August 1 as a result.
Related Article: New Gold Backed Cryptocurrency Has Been Announced
by Ethan Huff, July 22nd, 2017
Kevin Lawton is a tech entrepreneur who’s successfully launched 10 different startups. He also knows a thing or two about Bitcoin, and during a recent interview with USA Watchdog‘s Greg Hunter spilled the beans about what he sees as impending doom for the digital currency – at least in the short term.
Basically what’s happening is that there are two schools of thought as to how to deal with ongoing problems in Bitcoin land. Transactions are slow and ever-worsening as more and more people use the crypto coin to buy and sell without the need for fiat currency. Those who developed Bitcoin have an idea as to how to address this, but so do “miners” and everyday folks who trade with the stuff – and the two ideas differ substantially.
“In Bitcoin, there are huge scalability issues in terms of transaction speed,” warns Lawton. “It’s been ongoing for years now. There is a set of ideals from the developers on how to fix this, and there is a set of ideas from the miners and payment transactors on how to go about fixing this.”
“They are sort of like two camps, and they have really split off. The developers have a proposal … and that will probably roll out around August 1. Then, on the other side, big money people and payment processors and miners … they have their own proposal, and they want to do more than the developers want to do.” (Related: To keep up with the latest Bitcoin news, be sure to bookmark BitcoinCrash.news.)
Bitcoin ‘fork’ could be reason enough to liquidate, Lawton saysIt’s not that Bitcoin is inherently bad, nor is the concept itself a failure. Cryptocurrency has a lot of potential to unhinge a society from the shackles of private, central bank-issued fiat currency, for instance, that can easily be manipulated and controlled by third parties. Since it functions on a peer-to-peer basis, cryptocurrency truly can be money by the people and for the people – completely decentralized from federal intrusion.
The problem is that many people are using Bitcoin for speculative purposes, which has greatly driven up costs and turned it into more of a high-risk investment than an actual currency. The other problem is the upcoming “fork” that will split the blockchain into two, potentially creating some very serious problems for Bitcoin users.
“When the split happens, you effectively have the blockchain go down in two different directions,” Lawton warns. ” You can think about your crypto coins existing on both paths at the same time. It can create a lot of havoc.”
“If it happens in a short time frame, and there is a big winner and everyone gets behind it, the blockchain reorganizes itself and goes down the same path and you are fine. If it doesn’t happen in a short amount of time, some really bad things can happen. You can get double spend issues with your coin. You can have this thing called ‘reorganization,’ which can disappear your transactions. I anticipate people who have big money at play are probably going to want to liquidate their Bitcoin ahead of the potential fork nightmares … There is the possibility of liquidations.”
The full interview with Lawton is available for viewing on YouTube.
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