Hello everyone welcome to crypto sphere, my name is Miguel and thanks for t tune in today's video I want to talk to you about the recent news of the hard bitcoin bifurcation cash give you my point of view and talk a little bit about the division that is leading the bitcoin cast community to plan this possible building for November 15 I will also explain to you if you are one of the bitcoin cast investors how will this affect you possible good fork here we can see on the official page of bitcoin cash as they announced the next update of the network where there are three different proposals these proposals come for a disagreement within the bitcoin cash community itself going back a little bit to the story in this article tells us that two times a year the bitcoin cast network bifurcates as part of the scheduled updates of the network this year however it is proving to be one of the most controversial hard fords or halfords of short life useful bitcoin cast here we can see the official page the different nodes of the bitcoin cast the main one is this bit with abc then we have the bit with the limit the communities of two of these nodes have made their own proposals the first we have the bit with abc what proposes are new features such as contract skills smart oracle services and scale improvements to the bitcoin network cash and then the second proposal of the bitcoin sv community is that we have here what it raises is to completely replace the scripts of bitcoin abc with their own and expand the size of the bitcoin cast block from the 32 current megas to a size of 128 megabytes and finally the community of bitcoin unlimited comes from the hand of Andrew Stone the leading developer of bit with the limit currently the second most popular client used by the network of bitcoin cash proposed a so-called ceasefire solution p 0 98 the proposal of this required that the miners change the client from bitcoin unlimited once the miners change the characteristics of bitcoin abc and bitcoin sv can be activated through bei 139 or emerging consensus these three proposals are generating a debate and some they think that according to this article if both fields can not solve their differences and join before November 15 the division can be very equivalent to the nuclear option for one of the parties although bitcoin cash which is currently the fourth largest crypto currency by market capitalization has been facing problems with the deceleration of adoption rates for traders after the bifurcation will begin the task of separating the identities of these two crypto currencies in the public mind and confusion can also affect the value of both crypto currencies this disagreement between the bitcoin cash community is exactly what happened last year at the end of August to the bitcoin community did not agree with the original satoshi plan nakamoto where bitcoin planned future updates one of those updates was he the witness has segregated called set week that reduces the amount of data that must be verified in each block by removing the data from the signature of the data block that must be processed in each transaction and attaching the in an extended block also the second update that the Bitcoin community planned the damage of the year about mid-August past was also lightning network technology but by then those two future updates of the bitcoin blockchain chain not agreed to the whole community what led to a second part of this Bitcoin community is separating which led to the birth of the currency bitcoin cast this year we are already seeing that the bitcoin cast after after having completed one year of birth now he has that division where members of his community already want to do this hard bifurcation for those who are not very familiar with the concept of bifurcation is basically the division of the block chain of the main currency in this case the currency of bitcoin cash that in a given block once that block gets form what is going to generate is the creation of a second a second chain of blocks and consequently a second crypto currency now what is the part that it's up to the investors of the bitcoin coin crypt kast well the good news is that we have announcements like the existing ones of coin veis that have announced that they are going to support the bifurcation of the bitcoin cast here they have a note on the blog of his page where they tell us that in the unlikely event of that several viable chains persist after the coin bay bifurcation will ensure that customers have access to their funds in each chain basically what they are telling us is that if we transfer the balance that We have bitcoin cash to the platform of coin you see once it has passed and 15 of November and a bifurcation happened where two will be generated different currencies them to generate you or give you the balance of the second crypto currency that comes from the bifurcation of bitcoin cash we also have the pod announcement that will support the bifurcation of this crypt currency also these exchange pods as point You see they are telling us that deposits and withdrawals of bitcoin are going to stop cast will be suspended approximately four days before I think the 11 of the November 11 so that to leave enough time for deposits to be process in full before the time of the fork also exchanges like poland xxi with coin have published that they will also support this bifurcation has also published leger which is one of the providers of the hardware portfolios have said that this fork will result in the minus two strings without playback protection and that will pause the bitcoin cash service to avoid unwanted transactions until that until it is clear which of these chains will be the dominant one is to say if you you do not use coin platforms you see pods or poland for example to do the claim of the bifurcation project bitcoin cast money what they make wallets like yesterday's they create a second one where you can get the second currency that has been generated from the bifurcation also other options that we are going to have and this is what usually happens after a fork and particularly is what I have done in the past is that when the bifurcation of a crypto currency always come out other wallets for example that of exodus that it's a text wallet a desktop wallet that publishes that it's going to support the bifurcation of that crypto currency and gives us the possibility that We can make the claim of the second asset that has been searched but to all this you have to be very careful because there are going to be many scammers and many deceptions where they will advertise new portfolios asking the investors who transfer their bitcoin cast and give them their private keys you never never never do this never deliver your password privately I particularly always wait for a few days to pass even You can spend months after the fork and you will always have the option to be able to make the claim of your new currency crypto therefore you have to be very careful with all this and to finish we will see how this affects the price of the beat coin cast this news of the possible bifurcation as we can see here in this graph the value of the bitcoin maximum punishment of $ 128 yesterday in a principle this could mean the potential for a setback but the bitcoin cast is still backed by strong fundamental drivers that they could also support an additional upward trend in the action of the price yesterday I was looking at that bitcoin transactions exceeded the 900 million dollars yesterday according to coin market cap and that's three times more than the levels of the previous week so you could expect a purchase bitcoin cast frenzy and continue until next week as well there are some analysts who have speculated that market manipulation can be the cause of this increase in the price but also as we see here the Volume increase suggests that there is a legitimate interest in the house bitcoin right now I thank you for watching this video for tuning in please if you think you left me some information or if war the information I have given on the future bifurcation of bitcoin cast let me know in the comments section If you have not done it yet, please subscribe and give the bell notifications to you does not cost you anything but for me it has a lot of value again thanks for tuning in and see you in the next video bye bye
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