Anyhow let's go back to the technical issues, so 2017 is when Bitcoin stopped being a currency. I haven't even realized it got this bad: "Bitcoin Cash transaction fees, on average, cost less than $0.20 USD while the average bitcoin transaction fee sits over 100x higher around $21 USD and bitcoin cash confirmations take on average 8.5 minutes while bitcoin confirmations take at least an hour on average. Plus Bitcoin Cash can do roughly 31 transactions per second while bitcoin can only do between 4-8 per second even with Segwit." It is obvious the clear technological winner is Bitcoin Cash, but will the market notice? Furthermore, the mempool is filling up with unconfirmed transactions (currently 160K). They are talking about LN but when would that happen??? ------------------------------- People usually think I am against Bitcoin. I am for new inventions and the better should win out, not the one whose coin I am hodling...
[jmho] Bitcoin = digital gold = store of value = ok for purchases of $500 or more (if you use a good wallet that can adjust transaction fees, set to 300 satoshis/byte which is around $12-$13 and you should get confirmed in the next 1-3 blocks) [shill alert] For daily small transactions, I see potential in Groestlcoin (small portion of my crypto portfolio). At current valuation of less than $100M versus Litecoin's $16B or Bcash $30B, it has a lot more room for growth. Lots of development. Accepted as currency in a few places. It can go 10x and still less than $1B. DYODD.
The problem is that what were advertised for the average people years ago, like transactions fast and cheap even for small amounts aren't true anymore. 3 transactions per second is laughable when one wants to conquer the world. And the problems aren't addressed. It is easier to start a new coin with the advanced features than trying to get a consensus. The fork is the best way to get into people's wallet quickly, but then there is the animosity between old and new. In short, price success killed Bitcoin as currency. Satoshi is be spinning in his grave so fast that the network could generate all the electricity needed for mining. What would Satoshi do? He would use Bitcoin Cash... "According to Digiconomist’s estimates, one bitcoin transaction uses as much electricity as almost eight American homes do in a single day. If bitcoin’s energy consumption continues to grow at its current rate, by February 2020, the bitcoin network will consume as much power as the entire world does today, according to Eric Holthaus."
Throw the damn towel...epic Rocky movie GIF. That's the great thing about trading...constantly two sides, or forces, pulling each other in different directions. It's almost like a spiritual or supernatural fight trying to understand and gauge those competing forces. Not many souls can nail and manage and tame the market.
Ok agree that if BTC can keep inovating price can keep moving ( no diff than any other dynamic institution. Ie: AAPL, etc.). How does existing BTC off existing block innovate ? Did not know it could do that.