How Can We See Opportunities When There Is Chaos?
July 16, 2017 | By JJ Garcia
Before we go into deep waters, we need to do a short explanation of soft fork and hard fork. If a soft fork goes through before August 1st, we will get a new and improved Bitcoin. With this new and improved version of Bitcoin, you will be able to do faster transactions. The big Problem that Bitcoin is having right now, is that it is to slow and expensive to make a transaction. Soon Bitcoin will become better. Litecoin went thru the same thing but, what we have learned from this experience was when Segwit was implemented in Litecoin, the price has doubled. If the same scenario plays out as Litecoin, then do expect to see new high records for Bitcoin.
A hard fork is more than a drastic approach, but it is still a new improvement. What a hard fork will do is split Bitcoin in half. This is what will look if we get a hard fork.
In the Bitcoin Core team, there has been rumors that it will probably keep the original Bitcoin name. We need to understand that it does not matter which road Bitcoin takes, there will be major profits because the technology has not changed, it just got much better. Then why is there so much fear if the technology is getting better? One of the reasons is, because people do not know which coin will devalue the most, and who will be the leader of this race. So far, people are more inclined to Bitcoin Core but it can change. This is not the first time that a hard fork happens, now we have Ethereum and Ethereum Classic, a great example of a hard fork plus the the price of Ethereum had sky rocketed since the hard fork.
The only thing that we have to be careful about is the disinformation and fear that is out there. I had been digging but in the end, I had ended up at the dead end, there has been too much disinformation. What we need to know is that social media has people that would want to create fear and chaos, for the purpose of purchasing at a cheaper price and making a profit. It is always important to take the necessary precautions, so you can protect your investment, I do see a great opportunity it is a battlefield out there. There is a higher risk, but it is still a great opportunity, always remember to invest what can you afford to lose.