Bitcoin to Create a Third Currency ? A Second Fork?
Agreed in May 2017, a group attempting to combine the efforts of the original platform with the updated block size of the fork currency is seeking to establish this third currency. The new block will be created after block 494,784, which will be sometime in November. Signatories to the agreement include 58 companies located in 22 countries as well as 20.5 million Bitcoin wallets.The currencies rely on their trading potential to survive, as a result, evolution will take the reigns, with the best one being supported – the market will decide.
For Bitcoin, independent stock research analyst and founder of Standpoint Research Ronnie Moas foresees Bitcoin surging to $5,000 by 2018, as cryptocurrencies continue to diversify and present a greater range of applications. This can also be attributed to investors and developers seeking refuge in a strong and sustainable, standardised currency. Resultantly, investors will continue to remain with Bitcoin until other platforms prove themselves superior. There is, however, another factor at play. The currencies only have value so long as they are traded. Thus, because Bitcoin is the largest, currently, it commands the most support and therefore will remain the most supported as it has the most value.
Until another currency can break the circle, Bitcoin is under no threat.
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