November 18th: Death of Bitcoin?

SegWit2x is a big event for more than just Bitcoin. It's important to the whole digital currency market. That said, investors need to understand the events leading up to this historic event. [Wealth Daily logo]  November 18th: Death of Bitcoin? [Alexandra Perry Photo] By [Alexandra Perry]( Written Sunday, October 29, 2017 November will be a big month for Bitcoin, which means it's time to have an honest conversation about the token. First off, this year has been crazy. Bitcoin's value skyrocketed by over 400% since January 2017, hitting a new all-time high above $6,000 just last week. This rapid growth has many crying that Bitcoin is in "a bubble." Yet, despite near constant heckling from mainstream banks, Bitcoin continues to increase in value. At the moment, there is one major factor influencing Bitcoin's price: the SegWit2x, an event likely taking place around November 18th. Investors are speculating on the future of Bitcoin after SegWit2x becomes a reality. People appear to be rallying around the token with the hopes that, finally, Bitcoin will be able to conquer some of the issues that come with growth. Over the next couple of weeks, you are going to receive more emails from Wealth Daily breaking down this event and its likely affect on Bitcoin's long-term value. But first, it’s time for a history lesson. In my time working with digital currency, I’ve learned that nothing in the crypto world can be properly explained without context. In the case of this coming Bitcoin event, that context requires looking at the issues that have whipped the Bitcoin community into a panicked frenzy. Issues that are not new, but rather date back to Bitcoin’s inception. It just took growth to draw them out.  Unlock Your FREE Digital Currency Guide Now For a limited time, Wealth Daily readers can receive a FREE digital currency education service. This service will teach you how to capitalize on the “digital gold rush,” a profit landslide that started with Bitcoin but now includes a fleet of lucrative digital currencies. Readers who have taken advantage of our previous educational services have banked gains upward of 600%! [You can claim your guide here.]( The Bigger They Are, the Harder They Fall Bitcoin is the mega-giant of the digital currency world. With a staggering market cap well over $90 billion, the digital token has a net worth close to those of Goldman Sachs Group Inc. and household name eBay. Part of Bitcoin's growth is fueled by worldwide adoption. In 2017, citizens of countries around the globe have turned to Bitcoin after concerns about their own fiat currencies. This includes Venezuela, which has become the center of a Bitcoin media circus in the wake of major economic issues. It also includes South Africa, whose debilitating struggle with the rand has driven many South Africans to seek a different store of wealth. All this has made Bitcoin bigger than ever. Unfortunately, it hasn't made the token better. As more users flood the Bitcoin network, more transactions are taking place than ever before. Though the volume is a good problem to have, for Bitcoin it has been crippling. I am about to explain something fairly complex. So buckle up because it is important to know. Bitcoin operates using a technology called “blockchain.” Many people struggle to wrap their heads around blockchain, but it’s actually quite simple. Just imagine a long chain, with each link possessing information. In the case of Bitcoin, that information is a transaction. Every transaction that takes place on the Bitcoin network is recorded in a block that is attached to the rest of the chain. And here is where our problem starts. Each block on the Bitcoin blockchain is 1MB (megabyte) in size. You don’t really need to know the technicals; just know that a block is mined roughly every 10 minutes. An average of around 2,000 transactions can take place on each block every three to four seconds. This has caused slower transaction speeds, clogging up the Bitcoin network and frustrating users. Heck, some people were left waiting for days for one transaction to go through. And that wait time somewhat destroys the point behind Bitcoin: an effective and fast currency transaction system. Obviously, for Bitcoin to succeed, the problem has to be fixed. The Bitcoin community had some ideas, but also a lot of conflicts. Some thought it would be best to increase the block size drastically. Others preached a more cautious approach — no need to rock the boat. In June 2017, 90% of the Bitcoin community was signaling for a solution called SegWit2x. Let me explain what that is.  Your Single Advantage Over Warren Buffett Could Make You a Million By Winter’s End He’s the biggest, richest investor in history, with enough money to run a small country. But there’s one thing he can’t do that you can... And he’s admitted it publicly. [He absolutely cannot buy a very specific class of stock](, due solely to the very thing that makes him a legend: his wealth. You, on the other hand, can buy it today... In the next 5 minutes if you so chose. And it’s this exact class of stock that makes millionaires faster than any other, bar none. Warren Buffett can’t take advantage of it. Not for himself or for his clients. But you can. In fact, you can be invested in just minutes, without leaving your chair. [Click here and find out how.]( SegWit2X: The Ultimate Bitcoin Battle When I was a kid, my sister and I fought over everything. We still do, except now our fights have evolved from battling it out for a favorite stuffed animal to spats about shared bills and parental visiting duties. The Bitcoin community is a lot like my sister and me. As it’s grown, the fights have escalated in both volume and consequence. SegWit2x is a battle of extreme importance, not just for the Bitcoin community but for the fate of Bitcoin itself. Basically, the SegWit2x solution required two steps. It took place like this: During August, the community came together in a conference in New York to hash out their differences. They decided to merge these steps into a hybrid solution, which is being incorporated over a period of two separate forks. The first fork adds off-chain support through the use of "witness data," and the second fork is increasing the allowed block size to 2MB. On November 18th, that second fork will take place. The block size would be increased from 1MB to 2MB. Many members of the community believed this solution was safest. Yet, the second the decision to execute SegWit2x was locked in, a facet of the Bitcoin community rebelled. Like a sibling rivalry, a portion of the community didn’t think SegWit2x was enough to fix Bitcoin’s issues. This branch of the community forked the code, producing a token now known as Bitcoin Cash. Some are concerned that as we get closer to the completion of SegWit2x, there will be another rebellion and the creation of another new token. If such an event takes place, it could signal a lot of things for the future of Bitcoin. If SegWit2x is successful, investors could have more confidence in Bitcoin's ability to be a tool in our global economy. We will discuss all of this in future emails. So make sure to keep an eye on Wealth Daily for more news as we get closer to the fork. For investors looking to find more information on the SegWit2x event, you can [check out our FREE digital currency training service here.]( As part of this service, you will get monthly updates on major events in the cryptocurrency space, like SegWit2x, the Ethereum hard fork, and new, breakthrough technologies. You will also have full access to a 44-page e-book about the top digital currencies on the market and video tutorials about some of the top exchanges. It's the best resource on the web for investors looking to unlock the crypto world. And for a limited time, thanks to our senior technology editor Jason Stutman, I am able to give it to readers for free. [Click here now.]( All the best, [alexandra-perry-signature] Alexandra Perry [[follow basic]@AlexandraPerryC on Twitter]( Alexandra Perry is a contributing analyst for [Wealth Daily]( and [Energy and Capital](. She has multiple years of experience working with startup companies, primarily focusing on artificial intelligence, cybersecurity, alternative energy, and biotech. Her take on investing is simple: a new age of investor can make monumental returns by investing in emerging industries and foundational startup ventures. Enjoy reading this article? [Click here]( to like it and receive similar articles to read! Browse Our Archives [Ready for Bitcoin Gold?]( [My Biggest Investment Regret]( [How New Technologies Are Redefining the Grocery Industry]( [Growth? Bubble? Or Both?]( [The Definitive Guide to Bitcoin and Other Digital Currencies]( --------------------------------------------------------------- This email was sent to {EMAIL} . It is not our intention to send email to anyone who doesn't want it. 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