###A Reminder And My Take On Bitcoin Segwit 2.0 Comes August 1st
As you may have be informed already, on August 1st, BTC will implement SegWit 2.0.
What this means is that the Bitcoin Community have decided to take a step forward in solving the daunting problem of scaling. SegWit - Segregated Witness - allows for faster transactions. The issue of transaction delays and all will be old news.
This latest development will more than likely result in the tanking of BTC days leading up August 1st as people tend to have FOMO - Fear Of Missing Out - which is an unhealthy state of mind, thus they panic. This is because the SegWit implementation is a Soft Fork BUT have the potential of splitting BTC into two tokens IF the collective hash power do not agree come that day.
It is reported that at this time, 85% of the entire BTC network hash power (miners if you may) have agreed to SegWit. Let's hope it stays this way and half don't disagree. This uncertainty et al are what will give most people FOMO.
The Whales and Cow Boys will feed and benefit from the commotion cos they know what's up.
Here's some suggestions on what to do if you fall under the category of FOMO, as August is upon us.
1 Convert your BTC to fiat and buy back at dip when it drops.
2 Use your BTC to buy other solid crypto like ETH, NEM, GNT, WAVES, Ripple etc, when they tank (dip) cos as BTC drops, they will tank too. So that after the whole commotion shortly thereafter, you would be in profit.
3 Get your Cold Storage game strong for all crypto you are holding.
LET IT BE CLEAR, that split or no split, BTC will attain that $10k mark next year. If you're in doubt, look at the mind-blowing, astronomical growth of ETH after its split. This is what will happen to BTC too, whether split or no split.
Enjoy your day.
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Love,
Debbie Williams.