Another Bitcoin Split On The Horizon?


bitcoin

As reported by Bloomberg today, Bitcoin is facing another possible split in November, which would mean that the world will have three different versions of the cryptocurrency. With the growing popularity of the currency, miners and developers seek new ways to diversify the increasing “hunger” of the population.

One of the “Bitcoin gurus”, Roger Ver, who started investing in Bitcoin in early 2011, is now moving part of his funds into the new Bitcoin version – Bitcoin Cash. He said that he expects certain benefits from the potential split as more currency is created, and the overall supply goes up.

Bloomberg Television reported:

“There’s probably going to be another split between bitcoin legacy and SegWit2X version of bitcoin but that just gives me more coins that I can sell for the Bitcoin Cash version,” said Ver.

According to Bloomberg, there is a heated discussion about how a potential split will affect Bitcoin and Bitcoin Cash. The initial idea of creating the digital cryptocurrency was to have consolidation and ease of trading with only one product that everyone can trade. When Bitcoin Cash began trading, the price of Bitcoin slumped a little bit, but now the two “splinters” are doing pretty much the same, with Bitcoin rising again around $4,000.

In an interview with Bloomberg Markets, Roger Ver said that it is Bitcoin that is safer than print money, not the other way around. In his opinion, Bitcoin is governed by the laws of mathematics, where such laws do not exist with print money, where “everyone can print as much as they want”. Ver affirmatively stated that “Bitcoin is one of the greatest inventions of the human kind in history”. However, with regulators on the watch, China’s ban on domestic exchanges trading Bitcoin and Bitcoin Cash, and the potential emergence of more Bitcoin products pose uncertainty in investors and nothing is sure about the next price correction of Bitcoin and the overall performance.

 

 

 

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Another Bitcoin Split On The Horizon?

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