Today is August 1, 2017. This day will have its place in blockchain history as the day of the great fork, in which Bitcoin was split into two parallel streams as the battle to perfect the platform continues. I write for the finance and investment website ValueWalk and I posted my commentary entitled Why You Should Toast The Bitcoin Split With A Coke Classic there today. Here is an excerpt:
Look at Coca Cola’s New Coke, Coke II, and Coke Classic debacle of 1985, a twisted saga of a marketing and financial move gone terribly wrong, when Coke sought to revitalize its century-old formula in an attempt to appeal to the growing youth market, or simply to save manufacturing costs. Regardless of its true intentions, the move was seen as the day Coke lost the cola wars, and to celebrate, Pepsi gave all its employees the day off….What is good about the bitcoin split? Primarily, it puts even greater pressure on the Bitcoin community to address crucial issues around scalability, processing speed, and viability as a currency. The unprecedented growth of Bitcoin usage has pushed the limits of its transactional capacities to the point that traders and customers have become exasperated over long approval times and excessive service fees, to a point that traditional banking technologies like credit and debit cards look better by comparison.
To read more, please visit ValueWalk here.