Bitcoin makes people who are asking themselves if the bitcoin fall is already happening. The short answer is: No, it is not happening yet. There is still a long way to go before Bitcoin really takes shape, but there is a definite trend that is being predicted. I am talking about the Binance and Bitffe exchange platforms which are predicted to be the first of many major trading platforms to use the full potential of the bitcoin protocol.
A lot of people have been very confused and afraid because they thought that something was going to happen with the Bitcoin protocol. There has been a lot of drama in the media regarding this issue including the famous Silk Road 2 scandal. But when we look at the bigger picture, something that didn’t happen is the bitcoin transaction fall. It is still very possible that the exchanges will raise the limit on the number of inputs while reducing the number of outputs, both of which will have an affect on the price of the currencies. However, we shouldn’t be too worried about this because the early adopters are going to jump on board before the break even happens.
Bitcoin is near of fall ?
When we look at the bigger picture, we can see that there are two things happening here. One is that there is a clear signal from the Bitcoin miners that they are prepared to increase the rate of the block size. This is because they have finally realized that they need to increase the security measures so that the average user doesn’t have to worry about their account being hacked into. If a transaction fee is used, then the miners have the ability to control the money supply. This is very bad news for central authorities because they were counting on the user’s ability to pay transaction fees in the future.
The second thing is that the Bitcoin mining community is preparing for a hard fork that could split the community. This could happen if they don’t get their way, or if some users decide to rewrite the software in order to receive an upgraded version. In either case, you can be sure that there will be a fight and the outcome will not be positive. With this said, we should all be watching to see who can win this fight, the Bitcoin miners or the bitcoin users. If the miners win then we will be in big trouble, as you know they have the specialized hardware to defeat this attack in less than one hour.
I know people think that the bitcoin protocol is the best solution to make money online, but the truth is that it is far from perfect. The major problem is that it is based on the current version of the Bitcoin software, which is 1.3.5. Even though it is good for now, I believe in the future we will see better solutions. Since the bitcoin protocol is based on the original software of bitcoin, I believe that anyone can modify the source code with little to no difficulty.
You may have heard that some people will start using an ATM to make their transactions, but I think that will eventually be eliminated. Mining is too centralized these days and it is too costly. What ends up happening is that people will start using their computer to make their transactions and the wallet to hold the transactions. This is a very bad thing, because the sooner the mass mentality of the average user learns to mine on their own, the sooner the Bitcoin are worthless and the bigger the bubble will be.