Bitcoin Gains $2000 Value in One Month to the Day!

By | Nov 20, 2017
Bitcoin as a Retirement Fund?
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Bitcoin Gains $2000 Value in One Month!

A month ago, on the 20th October, I wrote an article with the title Bitcoin Hits $6000. There will be Blood.

Today, on the 20th November, ’17, Bitcoin hit $8000, and yes, there has been blood! Blood, sweat and tears probably. The SEGwit2 hard-fork did not happen, so that left a lot of miners out of pocket in terms of thousands of hours coding lost. And time is money, which is where the Kronos part of the CryptoKronos.com title comes in.

So You Keep Waiting?

How long are you going to wait before you start investing in Bitcoin and other cryptocurrencies? Time flies. Just go to Trezor.io, order a Trezor hard wallet, and the setup of the device, their recommended platforms, and the advice on their website will get you started in cryptocurrencies.

Trezor in dock

A Trezor Hard Wallet in a USB dock.

It’s easy. I’m not oversimplifying things here. if you can read and understand my articles, investing in crypto is going to be easy for you. If, on the other hand, you get lost halfway through one of my sometimes non-SEO friendly longer sentences, best to give up the idea and go and watch some Reality TV!

What the Failure of SEGwit2 Reveals.

For one thing, it shows that you don’t just attempt a hard fork in Bitcoin, or in any cryptocurrency, for arbitrary reasons that don’t provide sufficient benefits to attract the support of the majority of miners. There are too many miners with equipment set-up specifically to mine Bitcoin, and that could be one good reason why Bitcoin always wins through the hard forks. I think people have confidence in that fact now.

Miners are going to think twice in future and they’d better have a lot of support and a very good plan in place before they attempt a fork.

Tip for potential forkers:

Get a decent token symbol before you even start!  A picture paints a thousand words, and the famous Bitcoin symbol, if it’s going to have competition, will need a very good symbol to compete with it.

And get a better name than SEGwit2! Ain’t nobody got time for that!

 

Forking is not a Bad Thing

I’m not saying here that hard forking in Bitcoin is a bad thing, necessarily, like a fire is a bad thing. But as I’ve said before, most people buy and hold, which is why Bitcoin has such a huge Market Cap. But as I’ve also previously written, and not just on this website, the main trunk of any tree must grow branches and bear fruit, and a lot of people buy into Bitcoin to get hold of that fruit. It comes free of charge, after all, and whilst there is a lot of instability in Bitcoin value around forking, every time it happens, Bitcoin just proves its long-term stability, and soon grows in value to a greater high. And whether proposed forks happen or not, they always cause growth in Bitcoin value.

Fools on High Horses

So as for the forks, and as for the fools on their high horses who try to devalue Bitcoin with fake bad news and fake devaluation statements, as the famous Scots poet Robert Burns said in A Man’s a Man for A’ That, ‘The man o’ independent mind, he looks and laughs at a’ that.

So Burns was talking about fools in high places strutting about making stupid statements for their own benefit. Anyone with the name of Jamie come to mind?

Disclaimer: You might be tempted to assume that this article contains investment advice. Don’t make that assumption, because it doesn’t! I don’t give investment advice. I just come to my own conclusions and write or speak about them. I sometimes help people make good decisions on their ICOs, or in growing their business outside of the realms of cryptocurrency, but that is not financial advice—it’s business advice, and I don’t give business advice without profiting from it, except, occasionally perhaps in casual conversation. Also, readers, stop calling me to see if I’ll sell cryptocurrencies to you. I have never sold anything but Ether and that is only to swap for stakes in ICOs. And even if you call me in another three years, the answer will still be no, no, NO! If you want to buy, go through an exchange. I wasn’t born yesterday!

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