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IS BITCOIN SILVER A HUGE JOKE?...........As Issuance of New Coin starts December 2017!

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It is clear that the so-called in fighting in the Bitcoin development community is driving things to a ridiculous point.  Last time we reported that the big money in Hard Fork is one of the driving force for the constant rivalry and infighting in the community.

Few days after the separation of Bitcoin Gold, the crypto world was jolted with the announcement of yet another possible fork.....that will birth Bitcoin Silver.  This is incredible at a time when the new fork have neither entered the market nor found its bearing.

The question is "What do they want to turn Bitcoin into"?

It is true that Bitcoin have had one of its best years this 2017 with unprecedented price spike and greater mass adoption as many more corporations, stores and business have started accepting Bitcoin as a means of payment and even store of value, but everyone need not create his or her own coin to get a point across. 

Given the fact that Bitcoin is completely open source, it isn’t entirely surprising to see people take its source code, modify it, and spin it as if it’s a brand new coin. That seems to be happening right now with Bitcoin Gold and Bitcoin Silver. It’s the latter creation in particular which raises a lot of questions that will need to be answered sooner or later.

Fireinthebone gathered that Bitcoin Silver uses the exact same mining algorithm as Bitcoin Gold, and yet claiming to be a hard fork of Bitcoin,  though the proposed currency offer replay protection, which is something Bitcoin Gold has yet to implement. Its blocks will be 30 seconds apart on the network as well, which is pretty interesting.

The issuance of new coins will start in December of this year, although no specific date has been announced as of right now. At that point in time, miners will begin the process of generating new coins using the Equihash mining algorithm.

As with Bitcoin Gold, Bitcoin Silver’s developers  are most likely going to take the snapshot of  Bitcoin blockchain and issue a lot of coins later on, which is their easiest pathway and the most likely manner the new BTG issuance will follow. 

So far, the initial response to this new Bitcoin “fork” has been that of silence. perhaps questioning the need for yet another Bitcoin fork. Its becoming clear that developers in the inner circle want a piece of the bitcoin cake dropping direct into their hands. 

They can do this because they know the digital exchanges are in business, and as Bittrex boss said this week, it is important for them remain neutral in all these and allow the people to decide.  So, should people begin to demand for bitcoin silver, gold etc, they would have to list such coins for trading.

Bitcoin Gold is right now, having a controversial entry which I personally think will work to its advantage.  Despite many misgivings being expressed by different personalities and exchanges.  I believe BTG will take its place as an elite bitcoin brand within a few months of trading, all things being equal.

This is the time for a Bitcoin developers 'Round Table' to discuss the issues motivating the hard fork desires and nip it in the bud. What will happen if after the Silver fork, another developer comes up with Bitcoin Bronze, Bitcoin Pearl, Bitcoin Platinum etc?

If the developers continue this way, they will virtually 'devalue' the flagship (BITCOIN) and its credibility.


Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart, strength and might.  Love your neighbour as yourself, hold no offence, no bitterness - the Lord is near you to help you!


FIRE...

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