Bitcoin Scaling 101: A few things you should know about Bitcoin scaling

domainking131

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Bitcoin Scaling 101
The basic idea: People want to see Bitcoin support greater transaction volumes

The complexity: People don’t agree on how they want to do this

The proposals: There are three proposals on the table (that have gained the most steam) for increasing transaction volumes, one is called SegWit2x, BIP 148, and BIP 91. I know, who names these things?

The risk: Nobody agrees (what’s new) and some people are threatening to revolt which would, uh, make things super awkward and likely have a ripple effect on cryptocurrency prices.

The day of reckoning: The plan is for this to all go down August 1st so cryptocurrency prices could jump way up or way down leading up to and after this date. I personally like taking risks (i.e. I don’t mind losing all the money I put in here) so am betting that it is going to go up and am buying crypto now.

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