Can soft forks boost Bitcoin prices? A cheap lie

When you treat real things as illusions, the false things will even seem more real than the real things, and then you need to use constant lies to fill in the gaps. If you tell too many lies, they will not become the truth, but the truth will not be believed.

Take advantage of every opportunity

When it comes to Bitcoin expansion, in the absence of technical theoretical knowledge, facing the digital currency industry of real money investment and gambler psychological games, soft forks sound like they give investors a natural affinity. In the soft fork route wrapped in appearance and slogans, Bitcoin is actually used as a guinea pig for violent testing. Segregated Witness (SW) and Lightning Network are Bitcoin soft fork solutions, which can theoretically solve the problems of transaction scalability and Bitcoin network congestion. However, the advantages of Segregated Witness and Lightning Network are blindly exaggerated, especially for the Bitcoin core development team Core, the leader of the solution. Compared with Bitcoin hard forks, soft forks are not solving the problem of Bitcoin's urgent need for expansion, but using expansion as a starting point to satisfy the personal desires of the Core development team.

The expansion is aimed at the main chain blocks, which is in line with the development concept and ideas of Bitcoin. People do not want big blocks for the sake of getting bigger blocks, but because of the value that big blocks bring to users, just like people do not want big cars for the sake of getting bigger cars, but because big cars can carry more people or goods. The Core development team that advocates soft forks strongly opposes this. They are trying to overturn the previous concept and redevelop a Bitcoin that they can control.

What is even more ridiculous is that the soft fork supporters, led by the Bitcoin Core development team, have taken things out of context and believe that Segregated Witness will boost the Bitcoin market. They are using this as a slogan in an attempt to attract the largest group of users in the Bitcoin industry - ordinary investors.

This phenomenon stems from Litecoin's implementation of Segregated Witness and the misleading of media practitioners who do not understand the real situation by supporters. Fundamentally, it is because extremist soft fork advocates, such as the Core team, have come up with all kinds of naive magical logics to achieve their goals. In the new round of price increases, influenced by the media, investors believe that in addition to a series of good news from abroad, the Segregated Witness experiment on Litecoin has paved the way for Bitcoin. This kind of thinking is completely misled by Segregated Witness supporters.

Fancy hanging

Bitcoin was widely spread after mid-2013, mainly due to factors such as price surges and plunges. For practitioners and investors in the digital currency industry, there are also general rules for market changes. In addition to the good or bad news brought by political and commercial factors, the market of competing coins is also proportional to the market of Bitcoin. If Bitcoin rises, the market of other digital currencies will not be much worse. Taking the recent market situation as an example, Bitcoin, which is priced over 10,000 yuan, is leading the bull market in the digital currency market. Some investors even said that they can make money by investing with their eyes closed.

Litecoin advocates the implementation of segregated verification because from a technical point of view, it is just a copy of Bitcoin and lacks innovation. Segregated witness may bring more innovations to Litecoin. The community believes that it is better to take the initiative than to wait for a long time. Therefore, the rise in Litecoin prices is due to the community's consensus on segregated witness and the overall digital currency environment, and of course, thanks to the promotion of Bitcoin market.

Bitcoin and Litecoin are fundamentally different. Regardless of whether Bitcoin is a hard fork or a soft fork, what needs to be solved is the existing network congestion problem. It does not require innovation, a new approach, or even a revolution. The technology in the experimental stage is used to solve the thorny problems of Bitcoin, and it is also boasted that it can drive the Bitcoin market. This kind of logic is definitely not something that ordinary people can come up with, unless they have already thought about how to fabricate and implement a lie show.

Even when the Bitcoin expansion problem is getting more and more serious, this should have affected the current price of Bitcoin. From a directional point of view, forks are an inevitable part of Bitcoin, and from a user's point of view, transfer confirmation has seriously affected the user experience. However, the price of Bitcoin is still rising, which is entirely due to the existing community consensus on the future development potential of Bitcoin. The basis for the formation of this consensus is the development of the business environment and the emergence of friendly signals such as policies.

This is obviously not affected by Segregated Witness. If investors can think deeply about it, I believe many people will just regard the tricks of the Bitcoin Core development team as a farce that will soon fade away.