On August 1st there is a large possibity that BIP 148 UASF will activate and Bitcoin will split into to separate currencies. Now I don't want to discuss the messy situation that this is causing but instead, I want to talk about if this fork will affect the price of Ethereum.
Now a lot of people have seen that Bitcoin and Ethereum price graphs are almost moving in unison with each other and it seems that when people look at cryptocurrency they always see Bitcoin and Ethereum as opponents and it is a race. But this is just not correct. Bitcoin and Ethereum are both trying to accomplish completely different things, Bitcoin is a Peer-to-peer transaction system meant to be used by people to trade money between themselves; Meanwhile, Ethereum is a system built on smart contracts and it is much better for business.
So with this knowledge I think the fork would be good for Ethereum because it would separate it from Bitcoin and show that they are different coins. I think that this fork will actually help Ethereum become it's own coin and hopefully more buissness will start to use it.
If bitcoin splits that will be the end of the great experiment. A truly decentralized, permissionless and peer-peer transfer of value.
I don't think bitcoin will fork, and if I'm correct, watch the value flee the alts and rush back into the digital gold. SegWit and possibly Lightning network will destroy all scaling issues plaguing bitcoin at the moment. Only time will tell.
Call me an optimist but I think there is hope. But ya if you look back not long ago to Bitcoin Core and Bitcoin Unlimited, we all thought the fork was imminent. I do hope you are right though. I hate trying to deal with all this. It makes it hard to predict price.
lol...ya it sucks. I'll just hold it to the end. If it dies, it dies. All the ethereum and alt holders will be the new rich I guess. Then I can hang my head in shame.
Great post. Cheers! :)
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Interesting blog. Same thoughts here. The current total market cap of all cryptos might seem high but blockchain is here to stay and will involve all our lives. I do see a bright future for everyone that's hold's their coins with a long term vision. I really advice people to take a look at: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Check for example: https://www.coincheckup.com/coins/Ethereum#analysis To see the: Ethereum Report