Why Bitcoin is heading for a “bloody battle” as its value increases

Although Bitcon’s share rose unstoppably in recent weeks, it does not end up generating total confidence among investors. Some even augur a future with new versions and divergent branches that would complicate the panorama.

Analysts from around the world are expecting what will happen next with the cryptonnet, whose price recently surpassed $ 5,100 despite recent restrictions imposed by several governments against that digital currency. Now, two deep divisions inside the Bitcoin could put in check the sustained growth of the cryptodivisa.

In particular, the Bitcoin is about to ‘bifurcate’ twice as much; that is to say, divided into two new and different criptomonedas (already it had done in August, when Bitcoin cash was created). The first of these divisions aims to ‘give birth’ to the so-called Bitcoin gold, a protocol that will allow miners to generate coins from their own personal computers, something that is currently virtually impossible to use the original protocol.

CryptoCompare chief executive Charles Hayter believes that the birth of this new currency, scheduled for Oct. 25, would be nothing more than a marketing campaign that, instead of being beneficial, could hurt both the currency itself newly created as the original.

“After Bitcoin cash survives after its launch, it seems that taking the name of Bitcoin will be the new ‘modus operandi’ to launch new criptomonedas, trying to take advantage of part of its reputation for the new creation,” said the expert to Mashable .

The second bifurcation, planned for November 18, is supported by 83% of the ‘miners’ and aims to increase the security and speed of the Bitcoin protocol through an update called Segwit2x, which would result in a new currency that has not yet been baptized, says RT.

This event would be “more dangerous” than the first and could easily turn into a “bloody battle” for dominance over virtual currency, writes Stan Schroeder for Mashable. The columnist points out that, from the moment most of the miners and digital exchange houses support the new update, there would be an imminent dispute over who would get the name ‘Bitcoin’.