Owning Bitcoin feels like riding a very expensive roller coaster at times, but that doesn’t make it less fun than being in a theme park. With the current Bitcoin price swinging up and down like there is no tomorrow, novice people are getting worried there will be no recovery anytime soon. Experienced Bitcoin users are enjoying the ride and the view, knowing that the ecosystem has already started its recovery process.
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Regardless of how that thought might make you feel, we are all expendable in the Bitcoin world. The system already worked before most of us got here, and it will continue to do so even when people leave in droves. An automated system does not rely on too much human input, and Bitcoin can do without certain people in the community.
Mike Hearn assumed he dropped a bomb on the Bitcoin world with his recent statements and media coverage, but it looks like his little scheme started to backfire already. Various posts are popping up on Reddit calling Mike’s bluff. and his blatant promotion for the R3 Consortium will do the project a lot more harm than good in the long run.
As we mentioned in yesterday’s article, the Bitcoin ecosystem recovery process is about so much more than just the price itself. A new proposal for a block size debate solution has been published on the internet, as article, the Bitcoin ecosystem recovery process is about so much more than just the price itself. A new proposal for a block size debate solution has been published on the internet, as Bitcoin Classic attempts to restore democracy in the digital currency development world.
While many people are keeping a close eye on the Bitcoin price charts, things are not looking as bleak as yesterday either. It is far too early to make new Bitcoin price predictions right now, as a large portion of the market is still on wobbly legs as we speak. But the massive price dump people expected has not taken place, nor should it, as no major issue has occurred.
Depending on how new one is to the Bitcoin world. this situation we are in right now can be either entertaining or disturbing. People who come from a world where fiat currency reigned supreme will not like what they see right now, as fiat currency markets are mostly boring. That is, once we look past its volatility on an hourly basis.
Those of us who have been through thick and thin in the Bitcoin ecosystem are not worried by any means. Granted, the lower Bitcoin price is annoying when holding a supply of Bitcoin. But at the same time, it lowers the financial entry barrier for new people looking to get involved in digital currency. To every story, there are two sides, and the Bitcoin story is far from over.
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