Bitcoin is a promising cryptocurrency that is continuously developing. More and more people start using bitcoin meaning that transaction validation requires more time and fees are rising. The load is growing, and the existing Bitcoin infrastructure cannot handle the present demand and needs to be improved.
The Bitcoin Community has come up with several proposals on how to scale cryptocurrency to solve the load issue. It’s quite likely that one of these initiatives — SegWit — will be launched on August 1. It aims to improve the database structure by clearing half of the space in the block and thus increasing its capacity two-fold.
Plans also include an increase of the block size to further double its capacity (thus raising it four-fold). However, there is an unlikely risk that the bitcoin could be divided into 2 types (different block / transaction chains) if the Bitcoin Community fails to find a common solution.
If the bitcoin exchange rate were to suddenly drop, you could always exchange bitcoins for a conventional currency. Once it goes up again, you can exchange your money back for bitcoins. You're protected from every angle.
Thanks for sharing your thoughts about bitcoin. It is a rollercoaster ride alright. I should have bought more when it dived below 2000 USD.
Regards,
@steemitph
yea you should have. But I advice that you look for a platform where you invest your BTC and it would grow with profit, rather than just waiting for BTC to appreciate then you sell and when it drops you buy. The best is to invest it and then accumulate BTC rather than buy and sell. What if it never drops?
If you aquire, via investment, you would smile always because you are growing your BTC and if you decide to sell, you sell your profits..
Have a wonderful day..