Bitcoin Ahead Of SegWit Launch

There is an air of uncertainty among Bitcoin miners and users of what would become of their fate in the near future. With the community approaching a significant decision date on the issue of scaling, the outcome of the consensus is looking more like an open secret as SegWit2x and SegWit Support has officially surpassed Emergent Consensus.

For those who don’t know what SegWit2x and SegWit truly mean, well it another name for Bitcoin Core, While Emergent Consensus is another word used for Bitcoin Unlimited.

Bitcoin might split

Remember the bitcoin fork that happened late last year that nearly leads to the value lost of bitcoin for up to 3 weeks, that might happen again in August if the new ideas behind creating SegWit and SegWit2x which is set to be lunched 1st of August, doesn't reach expectations by miners in the coming days or weeks after launching. However, the impact of the anticipated the new launch on 1st August, 2017 goes beyond just the expected improved efficiency of transactions within the Bitcoin network. With significant Emergent Consensus followers still in existence and are determine to continue undermining the set new launch, so a possible breakup is inevitable. This leaves room for a lot of uncertainty and concerns, leading to widespread speculation and predictions on what will become of Bitcoin and the crypto ecosystem in general.

Possible Outcome

In the wake of this later victory by SegWit, there are also a fear of a possible break up from Bitcoin Miner which might trigger a downward pull in Bitcoin market value and acceptance all over. This would happen if the other faction doesn’t accept to back down and accept defeat to join SegWit, which I don’t see happening anytime soon with the current rumor of Emergent Consensus thinking of a split, which will lead to a repeat in the same chain reaction that happened late last year that saw to the value drop in Bitcoin which created panic in the Bitcoin Community. So if that should occur again there might be a market takeover by other crypto-currencies like Ethereum, Steemit that is gaining more followers by the day, and the rest.

What can be done?

It will be totally irresponsible of Emergent Consensus if they pull out from Bitcoin but nevertheless I strongly advice a sit down from both parties before the fork in August is launched to avert any upset due to happen and to give the miners and users a more assuring future.