Bitcoin Is Not About Getting Rich – See it Climb the Price Ladder ThoughOctober 26, 2019
China reported its plans to speed up the development of the blockchain technology industry, and this somehow cast its influence on the price of the Bitcoin. The token recovered from its lowest levels.
For whatever reason, the price of the Bitcoin got some positive boost with positive sentiment. And, there are more buyers than sellers now, and this eventually drove the market higher.
With the Bitcoin price going higher, it has been a reason to rally for the Altcoins, including the TCAT tokens, Ether, Litecoin, ZCash, and others to decent percentages.
The current price hike sounds like an act of God, manipulation by the Whales, and the influence of China. The market was silent about the Bitcoin price crash, and it only implied that it was normal for Bitcoin to show such trends.
Doubters and naysayers are reworking their heads on what made the Bitcoin tick. The current price hike of the Bitcoin marked a momentous day for the token. This is one of the most significant daily increase in price in the history of the Bitcoin.
Bitcoin is not about getting rich. Several investors are into Bitcoin for reasons like their resistance to the banks and the transaction costs, want of anonymity, and several other reasons. It now feels right for them to see their favorite token climb the price ladder.
On December 04, 2019, Istanbul providing for the system-wide upgrade of the Ethereum will be arriving on the main net. The economic model behind the Ethereum 2.0 states that validators will be able to make 4.6 to 10.3 percent in annualized rewards in the beginning. The hardware cost to run the Ethereum 2.0 validator software might likely increase. The economics is all set to shift.
ProgPoW stated, “These are proposed suggestions by ethereum research, but until we roll over to Ethereum 2.0, none of us will know for sure. They’re constantly tweaking it right now. It can be pretty fluid.”
Vitalik Buterin is proposing several new things, and it will change a lot of things if the community would accept what he has to offer. He has recently suggested a reduction in the numbers of mini-blockchains during the initial stages of deployment.
In response to lowering the shards, Myers stated, “By lowering the shard count, essentially you need to make some other trade-off.”
The crowd mentality will unfold when the reality in the upgrade sets in, and we are all set to watch it.