Jay-R Gatdula is the Business Development Manager of Coin News Asia, a cryptocurrency news website catering to Asian markets with focus on startups, exchanges, and igaming. Mr. Gatdula is currently involved with a number of projects in the Bitcoin ecosystem and cyber security.
With recent events at hand, Bitcoin, as innovative as this tech is regarded by evangelists and critics alike, has just suffered another major downward trend in both consideration and trust when its value plummeted 14% for a matter of 30 minutes. Why are these flash crashes so significant? It’s because inquiries have been made, and flash crashes can shake the very fragile foundation of this cryptocurrency that can either lead to a successful mass adoption or to oblivion when a superior altcoin somehow supersedes the mother currency with better and more inventive features, guaranteed to be a more viable form of payment for the market. It is fairly certain to say that a lot of the risky companies have gained interest in Bitcoin’s potential over the years, but without investing a fair strategy of acquiring the coins, Bitcoin’s value will just endure more volatilities that will prevent it from getting the conviction it deserves – it’s a boomerang effect.
The Deal with the “Fork”
The cryptocurrency community is looking hard to find justifications for the fork. There is no doubt that Bitcoin is in dire need of evolution in order to perfect itself, and transactions are very limited in order to serve an anticipated amount of users in the next few months. Some analysts believe that Bitcoin will gain an exponential growth, and it should be prepared and seamless for such a phenomenon. Hence, the release of Bitcoin XT. It is expected to increase the limit for data allowed for each block from 1MB to a good 8MB. The projected