Well, well, well!
Just over three months ago I probably would not have had an opinion, except for "IDK anything about Crypto". However, now after following the BTC and Steem charts, reading up on these topics DAILY, watching various videos I actually do have an opinion.
Mind you, my opinion is not that of a person who can claim that anything I state is "fact" or anything that I say "shall happen", but it is an opinion based on what I have seen.
We all watched Bitcon soar to over $6,000 USD!
Once again Bitcoin proved that it is the King of the Crypto jungle.
I even expressed my opinions about that, so this newbie here really is getting out of his comfort zone with these posts;
So apart from this prefork period being an obvious show of power, ensuring that BTC gives its clients a sense of "security" it also confirmed that the two forks we have seen to date have a lot to offer.
Some may be afraid of the fact that Bitcoin literally produced multi millions of new Crypto out of "nothing".
True, but demand shall determine what is "nothing" and what is worth "something".
All these "reasons" given via their official site and other sites who read into it, to me are just ways for Bitcoin to justify making a monopoly for itself in the Crypto market.
However, Has it?
This may be the part where a "newbie" can show how it is possible for future generations of Crypto enthusiasts to not fall victim to a "monopoly" in the Crypto market.
After watching the last "Fork" and seeing how every Tom, Dick and Henrietta bought up as much BTC as possible so as to get a piece of the "new pie" made by the Big Mama of Crypto, I saw human nature kick in.
As soon as it was all over and everyone was feeling nice and safe and sound with their newly owned Crypto "given" to them by Big Mama BTC, many came back to where they were before, buying into the markets they were into and not necessarily staying loyal to Big Mamas kitchen!
Basically, all the alt coins out there that dropped, all of a sudden they all went back up, only to go through the same ordeal again with this latest Fork cooked up in Big Mamas kitchen.
So, maybe I don't know how to read people as individuals, but I do know human nature when it comes to habits and the their repetitive habits.
In the next week short period of time we could see a repeat performance of what happened the first time, the only difference being that now these people in Big Mamas kitchen have learned all all new recipe as to how they can make multimillions out of thin air it is almost certain that we shall see new Forks in the near future, as per some predictions, November AGAIN!
Now, IDK about you, when I buy into something and sign a contract, then the company all of a sudden says "we are changing this contract", it tends to get me a little upset.
Well, this is kind of what happened twice now, BIG TIME!
Go back to the BTC Whitepaper and look at what is happening now!
This entire thing kind of reminds me of those "multi level marketing" things, where you get something from nothing only if you have invested into their pyramid chain.
How many "Forks" shall happen in future after these last events ?
IDK, but I see a potential Crypto pyramid being built out of thin air!
OK, OK, many may state here and now that "this newbie doesn't know what he iss talking about", could be true, depending on which angle you are looking at things. However, take note of the angle that I have taken things from "As a spectator" not as a player down in the field!
Here again I have to say how I as a newbie see a future here on Steemit, where creations are TRANSPARENT AND OPEN TO THE PUBLIC. So this is the first thing that makes Steem and SBD as the base crypto of Steemit something that is light years ahead in this field. Giving both Steem and SBD all the clients out there who have in the past worked and made millions for others the opportunity to do the same amount of work and make new value in Crypto for themselves! Should I say OURSELVES!
With the new SMTs comming into action soon, which I like to compare to the ERC20 tokens on Etherum, I see a proven method for people to create new wealth legitimately and for this block chain to get even stronger with added value that just keeps growing and growing!
So this newbie here is here on Steemit and here to stay, I see the opportunity to make an entire new view on Crypto in this world, one that anyone at any day can go to our website here and see what is being done, how it works, what the potentials are, without all the equipment needed for mining, without being all "tech" as far as knowledge goes and definitely impressed or at least intrigued!
People are doing the "blogging " thing for decades now, people are on international social networks for over a decade now, so it is with a lot of confidence that I state how I can see a potential future here that can only be compared to that of Big Mamas kitchen, with the only difference being that here we all see what the chefs are doing when cooking, unlike in the restaurants that the Crypto world has had prior to Steemit coming onto the Crypto scene.
So, we'll see, if this newbie has learned a thing or two, I still have a lot to learn as far as the tech side of things go, but as far as human nature goes, as far as reading and learning from habits that humans have, I consider these opinions to be legitimate.
At the end of the day, I'm here for the long run!
Good stuff @jackmiller
You've explained it pretty well and used some great analogies. We are all learning here :)
I personally think that BTG will flop and if it does it might deter a few more opportunistic forks beyond SegWit2x, but if it succeeds then we might see the floodgates really open.
Time will tell. As I stated, I see a pyramid in the making, where BT "C" wants to control 99% of the market.
It's quite refreshing to read a newbie opinions on these things Jack, much like your post the other day. Keep up the good work.
Thanks mate, the sad and yet positive thing about this is, as time goes on and the more I get into it, the more I too will see things from a players point of view and not from the grand stands. Can't avoid that, it is just a part of the process.
Forks will continue to happen, but I think they will die off after time. As long as there are differing opinions there is the potential for forks, but as people start to notice that these forks have no value the chances of them happening will be less and less.
Greed is the driving factor with all the "pyramid schematics" !!!!!
Forks will become less often and they serve to better BTC. These are all part of the growing pains of bitcoin.
& every time people sell sell sell everything so as to buy BTC....
Well, personally, I want to see our blockchain here become independent on the USDT market, because here at least everyone can see and understand the work and effort being invested and everyone can be a part of it!
Which to me means that Steemit offers what no other blockchain offers!
Great write up, was unbiased and an interesting topic. I agree that the behaviour is repetitive and we will see this exact same thing in the future.
The crypto pyramid is definitely a real thing too, preach it Jack!
Forking awesome post lol upvoted and resteemed
like your post good👍👍👍
like your post good👍👍👍