What future for Bitcoin ? Risks and advice
The Bitcoin network is at the moment full. In fact, more and more people are interested in this currency and there are more and more Bitcoin transactions. However, there are not enough miners and the size of the blocks is too little. The netwotk can't follow and some transactions are not confirmed. To fix this, the transaction fees need to be higher for the transactions can be confirmed. It is a problem because for small transactions, the fees can be higher than the sum of money that you want to send.
To solve this problem decisions will be taken and it can change the future of Bitcoin. To start, it will be a soft work and litte modifications on July 23. This soft work will enable the network to confirm more transactions per day.
If on August 4, this soft work is not accepted by the majority of the community the fisrt hard fork can happen. The number of transactions per block will increase. If this hard fork happen, there is a real division of the blockchain and people will have to choose between this 2 chains.
Finally, if any solution have been found between october and November, Segwit2X can happen. It will come in 2 steps. The first step is a soft work which permites the network Bitcoin to accept more transactions. The second step is a hard work which permite to increase the size of blocks to 2mo.
RISKS AND ADVICE
The potential fork, Segwit risk to create "ghost" transactions from August 1, some Bitcoin risk to disappear so my advice is do not make transaction this day and during the next 3 days.
This post is now finished, if you enjoy it follow me not to miss the next posts and comment, upvote/downvote to show me your support. :)
(I am sorry for my english I work on it to improve myself :) )