 Okay guys, so this video is probably one of my most requested videos and that is talking about the Bitcoin fork So they've been following the whole Bitcoin I guess storyline for the last year or so Bitcoin has been having an issue with scalability Okay, and what I mean by scalability is increasing transactions per second and making Bitcoin faster And also from a protocol aspect making a scalable so more businesses can build applications on top of it And more merchants accounts can start accepting it. Okay So let me kind of paint the scenario exactly what's happening If you're not too privy within the space itself, one may not know exactly what's going on Okay, so let's paint the picture right now Bitcoin is having a technological issue and that's not an issue with the technology itself. It's more or less a political issue So if you remember my last video, I was talking about Ethereum versus Ethereum classic that one split from the original This might be the case scenario for Bitcoin itself, but Bitcoin's a little bit different and explain why so currently nobody owns Bitcoin It's a decentralized technology That is open source that developers and miners and users and everybody who uses it Uses it consensually because they choose to use it. There's nobody that you can say there's a CEO CTO CMO Bitcoin So there's nobody to point in charge and like, okay That person is going to make the decision or those five people are the leaders of Bitcoin That doesn't exist right now and it's never going to exist. That's what Satoshi made. It's a decentralized technology Open source kind of like Linux. Okay, so keep that in mind. Nobody owns Bitcoin There's no chiefs in command of Bitcoin to make the final judgment call and say this is how it should be done So currently like I mentioned, there is a scalability issue with Bitcoin Making it faster making it more user-friendly for merchants account. So there's two camps right now There are developers in North America called Bitcoin Corp Big big company that raised millions of dollars They have hundreds of developers working on their own solution or their own proposal to Help the Bitcoin protocol to make it faster better and scalable at the exact same time You have people over in Asia doing the same thing called the Bitcoin unlimited protocol. No difference They have their own variation and these guys have their own variation. Okay, so there's two camps You have Bitcoin core here in North America and you got Bitcoin unlimited in Asia both have different approaches to scaling Bitcoin The issue is this since nobody owns Bitcoin since there's no chief in command It's really difficult to say who's right because a you got this ego side and be you got that ego side Remember, even though we're talking about technology We're talking about human beings people are attached to your own ego identity of this way It's the right way they're attached to this way the right way and both are arguing bickering over like I'm right You're wrong yada yada yada, and we don't really get any progress. You see what I mean? It's no different than politics liberals Democrats blah blah blah blah, okay? We're at that stage right now We got group eight North America group B in Asia bump bump bump bumping heads and pulling No dirty little political tricks and all this media mumbo jumbo both ends. It's quite standard politics Let me put it that way. Okay, so you got both groups arguing and no one can really progress To the next stage see because Bitcoin is a decentralized technology. There's different layers and There's different people involved to say we all accept this new proposal. So you have miners You have developers and they work together and then obviously have end users so merchants and us people who buy into Bitcoin with that Through speculation or just as an investment or as using it from a day-to-day basis So you got miners you got big miners in Asia, which is the majority of them You got developers in North America, which is the majority of them And you got a small amount of developers, which is part of the Bitcoin unlimited, which is Asia now for a protocol So let's say a brand new protocol to say yes, we want to accept it pretty much 90 per Well, this is an arbitrary number. They just came up with this number. It's not set in stone But what they're saying is 97% of the miners of the developers of everybody in the whole network has to say Yes, we agree with this protocol. Let's go ahead 97% is a very difficult number to get to and I don't think so it's ever gonna get to that number So you have this cam trying to propose their idea and that cam trying to propose their idea and both are not getting to 97% Okay, let's pause there. So let's now talk about what camp a is proposing and what can't be is proposing camp a Which is the developers here in North America, which core they're proposing kind of side-chain solutions called Segwit So it's it's a it's a type of side-chain that makes Bitcoin faster that makes Bitcoin safer. That's their proposal I'm not talking about technicalities here. I'm just telling you what they're proposing Option B, which is Bitcoin unlimited. They're actually proposing more but kind of not in the hard work But what they're proposing is a more dramatic Improvement to Bitcoin. So they want to increase the block size more than a megabyte They want to transform the underlining protocol that is Bitcoin as opposed to Segwit can pay once add things on the side of Bitcoin These guys Bitcoin unlimited won't actually change the whole Bitcoin protocol both like I said before saying I'm right I'm right. Yeah, yeah, yeah, yeah, but like I said 97% has to become consensus and since you have all these different layers of developers And you have miners. It's never gonna get there. So right now. We're at a stalemate. We're had we're playing dirty politics right now It's not a technology issue. It's personal gain issue. There's no difference between politics and this as I mentioned before minors are profiting Developers profit everybody profits. So everyone trying to look out for their own self-interest Now the fork if we're looking at a fork It may actually happen that Bitcoin at this current state that if both sides don't come to an agreement Maybe by the end of this year, you may actually see a split So how would it look like it look like exactly what happened with a theory? So we would have all Bitcoin, okay? Bitcoin here then they'll have a split right here And then you have the new Bitcoin called Bitcoin unlimited. So regular Bitcoin would be the Bitcoin core guys Then you have the Bitcoin unlimited. I Suspect if this happens prices could go as low as 200 bucks and even lower on both ends Some say some say that's gonna be bad. I don't think so. I think this is great This is the whole purpose of blockchain is for groups of people to come together to create their own blockchain And to create their own currency or solution to a problem and through the consensus of users around the world They will vote whether they see value that or not. So if we do see a fork I will hypothesize that it shall happen this year I think if we don't see a fork this year, we won't see a fork for a while so if they don't come through a consensus which Currently with the two camps bickering over their political views. I don't see that happening up to 97% like I said So if we don't see that this year, we will see a fork of Bitcoin So we're gonna have now Bitcoin regular, which is currently what we're using and Bitcoin unlimited But what's cool about this now both parties Get what they want Bitcoin unlimited can go start scaling on how they want it and the Bitcoin Core theme over core team over here Which will just the Bitcoin will still be called Bitcoin because they want to keep their original name They will scale with Segwit how they want to scale So yes price will drop and people will panic everyone's gonna be selling But I say it's a great time to buy when it's that low and I actually believe price will skyrocket From from what we see today, you know a couple of months ago. We saw highs of what even 13-14 hundred American I think we see highs of three thousand four thousand once this hits Because people have more trust. You'll see people choose out of their own volition which side they want to go on Whether it's the Bitcoin unlimited or whether it's a Bitcoin core. So to summarize is Bitcoin in trouble. No, it's not It's just old politics like always nothing changes with human behavior. You have technology Then you have human behavior them combining is always issues. Okay, will a fork I say 50% chance it may fork this year if it doesn't it won't fork and if it does fork Don't worry about it. Keep your Bitcoin. I'm doubling down So what I have in Bitcoin right now, it will split 50 50 I'll take my chances and the best of luck to both parties and teams. I will still be using Bitcoin I will still be paying my freelancers in Bitcoin. So yeah, there you have it That's a current situation with the Bitcoin for I wouldn't worry about it now if you're looking to currently invest in Bitcoin I still say invest. I think it's still a low price. I think it's great You're not gonna be making millions of dollars people are looking for this like fear of missing out understand What you're investing in put 500 bucks in by 500 bucks of Bitcoin and if a fork does happen down the road You got 250 in Bitcoin and 250 in Bitcoin unlimited. That's it. Okay. That's my thoughts on the whole Bitcoin fork issue Like always leave me your Bitcoin slash Ethereum address below with the suggestion for the next video and share this video and like this video And I'll talk to you soon. Peace