Bitcoin Digital Gold First, Payment Utilization Second
The failure of the Segwit2x hard fork suggests that the popular cryptocurrency known as Bitcoin will be going down it’s own path from now on. There was a lot of lost faith in the currency and it shows with the market crashing just a little bit. It’s unclear as to where Bitcoin might be headed next, but with backing by Wall Street investors and a possible move into futures, there is still plenty to get excited about with Bitcoin. It’s far better to establish a solid foundation before trying to force it’s evolution into a payment system.
When 10,000 Bitcoins were used to buy two pizzas, the digital currency was a truly decentralized peer-to-peer payment network that operated across the globe instantly. Today, the price has risen nearly a million-fold, but the network is no longer quite as functional as it was back in those days. A single dollar invested in Bitcoin on the original Bitcoin pizza day would be worth over $3 mln today. SegWit2x’s Failure Confirms Bitcoin’s Status As Digital Gold