Done with the arrogance of the believed only one 'power'.

Even when the turning point seems to be reached at 27%, like the predicition market foretold.

It has gone all pearshaped.

My total portfolio value wend down 16.7%, that might seem bad, but I am still on a huge ROI {Return On Investment}, it has been way worse before than this. Even if BTC drops further, it has to go way more down before it really would be better to sell. That is the same for the Litecoin and Vertcoin that I HODL for long term. Only Dogecoin might do a bit better, but that is mainly a day-to-day use Crypto to me. The use for Bitcoin, BTC, was long-term, that is why I started to use it. Not for the unrealistic payment idea that somehow become almost like a religion in the whole of the Bitcoin field of the Cryptos realm. For every flavour of Bitcoin it has groups of believers in the very strange peoples money paradigm. Did my best to debunk that with logic and math. There is science to proof it is uncapable of even only handling debit- and creditcard transactions.

As I have written about that already I will leave it at that any flavour of Bitcoin would need 4GB blocks, at least, to be considered an alternative for the current financial, the banking monetary governance, system. This whole rubbish power struggle in the Bitcoin field of the Cryptos realm is just like religions fighting wars over what is the true word of their sacred books. But in this case it is the holy Bitcoin Whitepaper as written by them Nakamoto Satoshi Group. They are all a bunch of so called purists of which some have become real fanatics. And Core is doing nothing apparantly to make a change for the best. It would have been so simple. But they are also suffering from their own delussional paradigm that SegWit will solve everything.

Yes, and there will be a second coming, but who can exactly state when, in the meantime there are mouths to feed, families to shelter and so on and so forth. Looks like the Bitcoin Core developers are betting on a technology that is not ripe for use yet, still in alpha stage, at the most. Even those supposed to make it work do not seem to get it, too complex. And it is just as nuts to expect it to solve anything like that, as Bitcoin Cash and Bitcoin Unlimited developers claiming big blocks will do. Remember, not 8 MB, 16 MB or 20 MB blocks are needed to fullfill the believed purpose of Bitcoin, at least 4 GB per block is needed...! Not tomorrow, but now and not in a testing enviroment, but live chained! For goodness sakes, it is like arguing with a religious like belief system. No wonder they have their own prophet, need I state more?

The Cryptos market is waiting.

The overall market capacity is just about 200 billion USD and it even wend a bit below that. No real big changes in the overall capacity. And Bitcoin, BTC, still holding more than 50 percent of the Cryptos market. While Bitcoin Cash, BCH, got to spot 2 for a while, but it was expected to drop again after getting about 27% of the combined valued of the original Bitcoin and the Cash split. Together they were somewhere at 7600 USD worth at some point, with the Bitcoin Gold split even going towards 500 USD in worth. The holders of Bitcoin, BTC, before block 491407, will get that the equal amount in BTG, in about 8 hours from the time of writing. So, part of the apparant drop in value is going to be made good with the coming of Bitcoin Gold. That is really going to compete with Bitcoin Cash. As it will follow the Core SegWit developement.

Bitcoin Gold is also a real blockchain to pilot Bitcoin upgrades

The Bitcoin Gold lead developer h4x3rotab stated in an article at BraveNewCoin dot Com. It will probably give those who fell for the Bitcoin Cash bigger blocks will solve it all split a run for their money. As this one already seems to lose ground and will be dropping. And it may well be that BTG, Bitcoin Gold, is saving the day for Bitcoin Core, BTC, too. Somewhere at 20:00 hours Central European Time {CET}, I will be the owner of BTG, called BCG in my Coinomi wallet. Now, this one is free of the ASIC centralized miner control. No switching back and forth in those pools, looks like a very smart move to me. And I start to see the supporting Bitcoin Core, BTC, with this, because it will have its own set of miners, CPU and GPU based. Home mining Bitcoin Gold, who would have thought that would become real again. Because also Bitcoin Cash, BCH, is ASIC miner pools controlled, it seems that has become a centralized affair.

Bitcoin Gold to the resque?

There are several technical advantages that Bitcoin Gold presents. One big one being that it can be mined by those who use Equihash mining software and hardware that can handle it. It will support SegWit, it has replay protection and it will use an unique address format. And while a lot on the market already seem to be selling off Bitcoin Cash, BCH, it looks like all the other Cryptos are regaining from the struggle for power in the Bitcoin field. The pump of BCH looks to be over and done with. Profits will be taken, until the price of BCH will get to a certain stable level. In the meanwhile Bitcoin, BTC, will slowly gain traction again. And the Bitcoin Gold might become a top 5 competitor within a few hours. My hunch is that it will at least kick Ripple down a bit. BTG might be going for about 8 billion in market cap.

A lot are moving out off BCH, Bitcoin Cash, right now. While those who stashed their value in USDT, Tether, seem to be moving back into the Crypto market. Lots of Cryptos in the green again. Like Bitcoin, BTC, regaining its market dominance position at about 52%. At some point I can conclude that a lot of other Cryptos suffered from the Bitcoin Cash, BCH, coupe. But as far as I can see it this could backfire at BCH. There might be some who even think Bitcoin Cash will drop like it went up. Do not know that, but it looks like it is going to be reset to a lower value. While the capital flowing out off it will be moving towards other Cryptos. Some will actually get the irony when they see the transaction costs now for Bitcoin Cash, BCH. Therefore becoming expensive might give happy feeling to the big block side of the field, but succes comes at a price. Proving to me that Dogecoin is the real cheap Crypto. Compare the 1.50 USD per 1 KB BCH transaction to 0.001 USD per DOGE transaction. Just do the math, it is really that easy.

The Bitcoin battlefield origine.

Well, I do have a certain selling point. But that does not get infected by FOMO {Fear Of Missing Out} towards BCH, as I will never ever buy any of that useless Crypto. The science of mathematics and logic reasoning tells me that one is a laugh. Remember 8, 16 or 20 MB blocks are nowhere near the , at least, needed 4 GB sized blocks! If one would choose a vertical solution in the form of just using bigger blocks. The technology is not able to support this in real life, nowhere near that actually. It maybe could be done in a controlled centralized testing enviroment, perhaps, but that would be horror to many Crypyto users. But it is like the Bitcoin Unlimited entrepeneur, mister Craig Wright, foretold: he does not care, even will get banks and governments in, will even claim patents. Just watch the video of The Future of Bitcoin conference in Arnhem, Netherlands (June 30, 2017). That gives me the creeps, to be honest.

Now that part of the Bitcoin field is supporting Bitcoin Cash. And I am very surprised to see people cheer for mister Wright his visions. Do they not understand what he is about? He is telling the truth, also explaining what the Bitcoin Whitepaper was about. Him being an apparant part of the original Nakamoto Satoshi group. And I suspect Adam Back to have been one of them too. Mister Back now being active at the Bitcoin Core developement. The reason for why they split up the group might be evident. One, mister Wright, Bitcoin Unlimited / Cash, wants code patented (really, watch the video, he states it, and I do believe him), does not care for idealogies like Libertarianism, Anarchism, Anarcho-Capitalism or Voluntaryism. He is all about traditional business, capitalism moving into the digital realm, getting rid off the intermediates, banks will love that, governments too. He claims he wants to deal with the banks and the governments. Now I really can see mister Wright and mister Back their personalities collide hard. While mister Adam Back is actually the real creator of Bitcoin, with his invention of HashCash and its Proof Of Work mining, already way back in 1997.

Think I will HODL BTC for a while longer.

So the Core developement group, even though losing a part of my trust, seems like the true Free and Open Source Bitcoin. And even thought there have been suggestive claims that Core would want to patent technology like Lightning Network {LN}, that is already debunked, it is under MIT Free and Open Source license. It is all part of the Bitcoin Cash propaganda. While in their own ranks there is this mister Wright_big blocks are everything_ himself, that claims he is going to patent Bitcoin sourcecode. That Bitcoin is going to be centralized and controlled, that it is going to get banks and governments in, that it is about capitalism and business, nothing more. And I guess that does explain Bitcoin Cash, BCH. While the 8, 16 and even 20 MB blocksizes are just rubbish. Merely just a lot of bogus claims that these bigger blocks will fix it all. While it is really about trying to take over the Bitcoin field.

And one thing is sure for me, when the unlimited party of mister Wright get their way, then it is over for the Free and Open Sourced Bitcoin. It will be hello centralized control, welcome to capitalism 2.0, the digital Banking Monetary Governance system. But, luckily we have a lot of different Cryptos out there that will be tough to get under central control. And when the unlimited group get control over Bitcoin, I will get out. As it will destroy the intrensic value of it instantly. Bitcoin Gold might be a saviour, a blessing in disguise, the final check-mate for the unlimited take-over putsch. As Bitcoin Gold will be hard to centraly control just by renting a lot of 1 TH ASIC mining farms. At some point that will end when the finances are drained empty. But when it does seem the Unlimited Putsch manages to succeed than I will move my BTC to LTC and VTC mostly. While some are to be used for DOGE in day-to-day use.

May the Cryptos be with us!

The Bitcoin battlefield is burning. But energy mostly.

Image CC0 licensed courtesy of Typography Images.