Corrected Tale of Two Bitcoin Forks (non-bifurcated)

1 nov 2021

The prior idea A Tale of Two Bitcoin Forks (beware the Ides of March) (linked below) had the sub-major 3 and 4 waves too early (the 5th wave was longer which is not allowed). Also by employing the log-scaled Fib retracement for the 61.8% retracement threshold for wave 2 for the Terminal impulse, I was able to remove the bifurcation of the two posited Bitcoin forks (legacy and non-legacy). Those two forks are currently only soft-forked until the legacy miners decide to donate some ANYONECANSPEND Bitcoins (i.e. those addresses that don’t begin with 1 such as those that begin with a 3 or bc1) to themselves, so then the non-legacy miners will refuse to that block and hard fork — at which point everyone will receive the non-legacy tokens as a free airdrop at their market price at that juncture which of course is income taxable not capital gains! Yikes.

All those who were hodling in non-legacy addresses have in effect donated their legacy Bitcoins to the legacy miners because the non-legacy addresses are ANYONECANSPEND in the legacy protocol.

Note it appears that there will be a horrible economic crash in 2023. May have something to do with Republicans retaking majority of the U.S. Congress but not enough to override a POTUS veto, with Biden or Kamala Harris vetoing everything perhaps resulting in government shutdown.

Here’s what this chart looked like for me when I created it…

1 nov 2021

Nota

Also note this outcome although still very dangerous, is much less horrific of an outcome for humanity than the prior idea A Tale of Two Bitcoin Forks (beware the Ides of March).