There’s an air of uncertainty among Bitcoiners of what can become of the fate in the near future.
With the city approaching a substantial decision date on the matter of scaling, the results of the consensus is looking more as an open secret as SegWit2x and SegWit Support has officially surpassed Emergent Consensus.
Bitcoin is still likely to split
However, the impact of the anticipated events of August 1, 2017, extends beyond just the expected improved efficiency of transactions within the Bitcoin network.
With significant opposition still available, a possible breakup is expected. This leaves room for plenty of uncertainty, resulting in widespread speculation and predictions on what’ll become of Bitcoin and the crypto ecosystem in general.
Michael Vogel, CEO of Netcoins, affirms that SegWit2x and SegWit Support has officially surpassed Emergent Consensus, he identifies this development as a substantial milestone.
It is important to have a backup plan
Vogel notes that August 1 could be the next important milestone, explaining that until SegWit is activated on the network, that’s when Bitcoin users can have a first-hand opportunity to see a scaling solution in action.
“If SegWit activation alleviates the network issues we’ve seen lately, then a outcome will soon be an overwhelmingly positive one. However, with regards to protecting wealth, in Bitcoin (and any cryptocurrency) we’re still in relatively early days, so it’s important to own backup plans. Nonetheless, I remain bullish on Bitcoin and a solid believer in its core value proposition as a currency and store of wealth.”
Better to keep Bitcoins offline
Aleksandar Matanovic of EC District expresses his weariness of the drama surrounding Bitcoin scaling.
“I’m somewhat tired of all of the drama around scaling. Once this scaling is performed, one of the ways or another, we will quickly need another scaling.”
Matanovic notes that the result of Bitcoin users to scaling depends on personal motives and their reasons for participating.
In accordance with Matanovic, investors are most likely concerned about the fork, while speculators, on another hand, must certanly be stoked up about it because if you have a very important factor that will be certain for another couple of weeks, it’s the volatility.
Hence, Matanovic shows that the most effective approach in the midst of such chaos would be to “keep calm, keep bitcoins offline and not selling any one of them.”