You are viewing a single comment's thread from:

RE: It's still really hard to use bitcoin as a regular currency

in #bitcoin7 years ago

It occurs to me that Bitmain, a BTC miner, is currently extracting a significant portion of the value of BTC through fees, and the prospect of segwit to fix the problem is a threat to the profitability of miners, and why Bitmain is going to hardfork BTC when the UASF is implemented on Aug. 1, 2017.

This is a real mess, and makes it possible that, instead of segwit fixing the debilitating fee problem, BTC will become three separate currencies. Clearly miners are positioning themselves in a similar manner to banks in fiat finance, and segwit seems to be properly designed to end that problem, and Bitmain is fighting back in order to retain and increase it's ability to concentrate wealth at the expense of everyone else.

Sort:  

Will be interesting to see what happens after Aug 1. Not sure what would be the best to do right now but I guess nobody does..... Huge manipulaiton right now with uncertain end....

As I invest in things I understand, rather than gamble, I am manipulation free.

I wish you and all crypto enthusiasts the best!