BITCOIN AND AUGUST 1ST 2017 ( TO THE MOON OR DUMPSTER)
I WILL TAKE ANY POSITION ON BITCOIN BULLISH OR BEAR JUST HAVE TO ADAPT TO THE PRICE ACTION, IN MY OPINION FROM A TECHNICAL STAND POINT BITCOIN CHART IS BULLISH HOW EVER THE FUNDAMENTAL ASPECT SURROUNDING THE POSSIBLE CONSENSUS ON AUGUST 1ST MAKE IT HARD TO IGNORE THAT PRICE MAY REVERSE INTO A BEARISH DUMP
Always good to look at both sides and have a plan for both possibilities. i will just react to whatever happens
what are you guys looking at for the summer price action?
a drop then rise.
a major portion of bitcoin mining would get restricted to a particular country or an organization, as far as they are mining, no problem, but when they start using their mining majority to enforce their propaganda on the community, it is a problem.
LN would make transactions instant with the lowest fee. With bigger blocks, you order a coffee, drink, wait for the transaction to get confirmed, pay. With LN, you order a coffee, confirmed, pay, and drink. Just an example of not online, but how offline merchant payments would become a lot more feasible.
Which wallet do you use? Around 145 GB to synchronize blockchain. Obviously if bitcoin gets adopted on a large scale, the above figure wouldn't be limited to three digits. Increased block size, on chain transactions would get confirmed quickly with less congestion, but the network is always growing. The purpose of bitcoin is instant worldwide transaction with lowest fee, a side solution needs to be integrated into the network for this, that's what I meant by bigger block size isn't enough.
Segwit 2 MB, Segwit2x 4-8 MB. Right now remove spam dust transactions and 2 MB is more than enough for transactions to get confirmed, implement side options, bitcoin users would have the freedom to choose what method of transaction they want to use. Fork the network, users don't have a choice. It's as simple as that.