Bitcoin 20-10-2017 Midday Update / 25 October for Bitcoin Holders / Win With Steemit Coffee

in #steemit • 7 years ago (edited)

coff.jpeg

(Bitcoin 20-10-2017 Midday Update)

Expected trading for the rest of day is between: 5410.00 and 6200.00.
Expected trend for the rest of day: Bullish.
Bullish trend try to push the price towards 5800.00 for the rest
of the day unless breaking 5410.00 level.

(25 October for Bitcoin Holders)

Bitcoin Gold will be the new virtual currency that will operate on Bitcoin’s blockchain but will use a different algorithm. This algorithm aims to solve the problem of centralized mining. What we have now for Bitcoin is that over 50% of the mining takes place in China and this goes against the original idea of a decentralized currency. It just happened that a lot of data centers that mine Bitcoin are located in China.

Moreover, the hardware that is used to do the mining - ASIC - are also manufactured primarily in China by basically one manufacturer. As you can guess, this creates an incentive for that company to use its monopolistic market position to ramp up the prices. And they do.

Bitcoin Gold algorithm would be resistant to ASIC mining. This means that mining can be done on other machines so that we truly can aim at a globally distributed ledger and not the centralized version that we have now when the ledger is hosted in a few geographic locations.

So how is this fork going to affect the price of Bitcoin ?
Let us wait and see !

(Win With Steemit Coffee)

Steemit Coffee as always brings to you every month 3 contests:
  • Steemit prediction..
  • Bitcoin prediction..
  • NFP prediction..

Steemit Coffee till this moment gave away around 165 SBD
and a lot of Upvotes with 100% VP.

How To Win With Steemit Coffee !
It is so easy..
You Must Join The Running Contest..

If you like to win SBD10 + 1 Upvote 100% VP
Feel free to join the running contest 25 OCT Bitcoin Prediction Contest

You Are Never Left Alone
@lordoftruth

What You Know About --> Fibonacci Retracement in Trending Market.   

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If You Are New Steemain Read  --> Get Started Fast with Steemit.   

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#bitcoin #sbd #contest #steemitcoffee
7 years ago in #steemit by
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    • [-]
     7 years ago (edited)

    Thanks update.. good contest
    Resteemed your post to make more customers.

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    [-]
     7 years ago 

    Hello @lordoftruth,

    Extraordinary review of BTC next hardfork. Discuss it very well. Nice post

    ~@mywhale

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    [-]
     7 years ago 

    @lordoftruth,
    BTC Gold I heard it's PoW / PoS currency! Actually no idea what will happen next! But long term wise this is not a good sign for BTC! Anyway your contests are really great things! I hope this time I can win the BTC prediction contest :D

    Cheers~

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    [-]
     7 years ago 

    Thanks for sharing.
    100% like and resteem

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    [-]
     7 years ago 


    Upvote and Resteem

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    [-]
     7 years ago 

    Bitcoin Gold will be based on Equihash so it will be GPU minable. And bitcoin gold will be following the suit of the original bitcoin core developers for the future betterment of their coin because they believe that’s the secure way.

    [-]
     7 years ago 

    best pic ever steemit coffee 😍

    [-]
     7 years ago 

    Congrats you see them. :) nice post.. you living your life to the fullest. i want to see more of your post. done following

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      [-]
       7 years ago 

      @cryptohustlin has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

      To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo
To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo
To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memo
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