All eyes were on bitcoin on August 1st, as it underwent the biggest change it had undergone since its inception in 2009.
After years of debate, the issue of scalability resulted in a fracturing of bitcoin onto two separate paths, now called Bitcoin and Bitcoin Cash.
The usual cast of characters came out to warn that this was the death of bitcoin. And, as it always seems to do, bitcoin pushed on unscathed.
In fact, it was more than just unscathed. Just days after the fork it skyrocketed to new all-time highs.
And, that’s not including Bitcoin Cash which everyone who was holding bitcoin on August 1st also now has.
Bitcoin Cash has sold off the last few days and currently sits just over $200.
The entire cryptocurrency space skyrocketed today, with the exception of Bitcoin Cash.
Bitcoin fell from 86% dominance in the crypto space to start the year to a low of 38% in June. But it has now begun to regain some of what it lost and rose about 50% just prior to the fork.
Believe it or not, this whole scaling issue still isn’t over and is expected to continue on at least until November.
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About the Author
Anarcho-Capitalist. Libertarian. Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder of The Dollar Vigilante and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and cryptocurrency conferences including his own, Anarchapulco, as well as regularly in the media including CNBC, Bloomberg and Fox Business. Jeff also posts exclusive content daily to the new blockchain based social media network, Steemit.