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Massive Bitcoin Liquidation Likely to Happen Before August 1st, Warns Crypto Currency Expert +Video

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 By:   /  Natural News

There’s an upcoming fork in the road, and the popular online cryptocurrency Bitcoin is headed straight towards it. It could finally be the breaking point that Bitcoin needs to set a definitive standard for trading and transactions – or it could be an absolute nightmare that leads to a collapse. Not knowing makes Bitcoin an extremely volatile holding at this point in time, and a cryptocurrency expert has predicted a massive sell-off by August 1 as a result.

Kevin Lawton is a tech entrepreneur who’s successfully launched 10 different startups. He also knows a thing or two about Bitcoin, and during a recent interview with USA Watchdog‘s Greg Hunter spilled the beans about what he sees as impending doom for the digital currency – at least in the short term.

Basically what’s happening is that there are two schools of thought as to how to deal with ongoing problems in Bitcoin land. Transactions are slow and ever-worsening as more and more people use the crypto coin to buy and sell without the need for fiat currency. Those who developed Bitcoin have an idea as to how to address this, but so do “miners” and everyday folks who trade with the stuff – and the two ideas differ substantially.

“In Bitcoin, there are huge scalability issues in terms of transaction speed,” warns Lawton. “It’s been ongoing for years now. There is a set of ideals from the developers on how to fix this, and there is a set of ideas from the miners and payment transactors on how to go about fixing this.”

“They are sort of like two camps, and they have really split off. The developers have a proposal … and that will probably roll out around August 1. Then, on the other side, big money people and payment processors and miners … they have their own proposal, and they want to do more than the developers want to do.” (Related: To keep up with the latest Bitcoin news, be sure to bookmark BitcoinCrash.news.)

Bitcoin ‘fork’ could be reason enough to liquidate, Lawton says

It’s not that Bitcoin is inherently bad, nor is the concept itself a failure. Cryptocurrency has a lot of potential to unhinge a society from the shackles of private, central bank-issued fiat currency, for instance, that can easily be manipulated and controlled by third parties. Since it functions on a peer-to-peer basis, cryptocurrency truly can be money by the people and for the people – completely decentralized from federal intrusion.

The problem is that many people are using Bitcoin for speculative purposes, which has greatly driven up costs and turned it into more of a high-risk investment than an actual currency. The other problem is the upcoming “fork” that will split the blockchain into two, potentially creating some very serious problems for Bitcoin users.

“When the split happens, you effectively have the blockchain go down in two different directions,” Lawton warns. ” You can think about your crypto coins existing on both paths at the same time. It can create a lot of havoc.”

“If it happens in a short time frame, and there is a big winner and everyone gets behind it, the blockchain reorganizes itself and goes down the same path and you are fine. If it doesn’t happen in a short amount of time, some really bad things can happen. You can get double spend issues with your coin. You can have this thing called ‘reorganization,’ which can disappear your transactions. I anticipate people who have big money at play are probably going to want to liquidate their Bitcoin ahead of the potential fork nightmares … There is the possibility of liquidations.”

The full interview with Lawton is available for viewing on YouTube.

http://www.naturalnews.com/2017-07-22-massive-bitcoin-liquidation-likely-to-happen-before-august-1st-warns-crypto-currency-expert.html

More great articles here: http://www.naturalnews.com



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    Total 3 comments
    • Jeffery Pritchett

      Bitcoin is a fucking joke.

      Any idiot that is losing money from this can only blame yourself.

      Think about this:

      You spent or invested money, in a “coin” that is collected, by running a computer program, and collecting enough 1s and 0s to “create” a complete coin.

      So basically, you invested money in a video game.

      These coins are WORTHLESS.

      They only have IMPLIED value.

      They are WORSE than paper money.

      You’re all fools.

      • Don - 1

        I could not agree more. Any ”money” that is not regulated by any government is doomed. This is like all other failed schemes created and controlled by anonymous private people.

        Its all fun while it lasts but a tulip plant is not worth the price of a house in Holland.

        • optimus

          You dumbasses. US dollar is fiat. Crypto currencies are the next evolution in currency, the block chain technology is akin to a new age in conomics and commerce. Amazon, Microsoft. Major banks adopting. You may want to look a bit deeper.

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