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Topic: Will BCH kill BTCSegWit while reinstating BTCSatoshi? (Read 5201 times)
^^ A gentleman and a scholar.
Any more tips for us plebs?
I’m limiting my posting so please don’t expect any follow-up.
I don’t have free time to study all the altcoin charts at this time (in INTJ “head in sand” mode as a developer, not my dominant ENTP personality trait). My thought is that BTC may lead out of this dip as difficulty resets much lower and much more profitable to mine (although I haven’t looked lately at the transaction delays factor, yet that may not matter). Also BTC tends to lead on moves up. So we (not me) traded BCH back to BTC at $2500+ (not expecting the SegWit theft yet).
If BTC gets far ahead of the alts, we will trade back into alts. I still think LTC may go to $500 for example. And BCH probably $10+K. All the alts eventually catch up, even Steem recently breached $6 (which I traded for BTC).
Note that for those in the USA, you can’t trade any more without short-term capital gains (unless you relocate to Puerto Rico and avail of Act 22):
Also you may or may not want to keep your eye out on this potential development of mine.
and bch is crashing too cant believe you are even considering the shitcoin as an hedge for bitcoin for some reason
Buying BCH at $300 (as stated in this thread) and selling it at $2500+ proved to be yet another very prescient and lucrative trade (that was after selling the freebies for $800 on the first ramp). That was a 20 bagger compounded on top of gains already attained in BTC and LTC at the time of the airdrop fork.
Ditto buying LTC at $6 and selling at $80, repurchasing in the $40s and selling at $300. Another 50 bagger in less than a year.
We’re in a severe correction now.
Any more tips for us plebs?
and bch is crashing too cant believe you are even considering the shitcoin as an hedge for bitcoin for some reason
Buying BCH at $300 (as stated in this thread) and selling it at $2500+ proved to be yet another very prescient and lucrative trade (that was after selling the freebies for $800 on the first ramp). That was a 20 bagger compounded on top of gains already attained in BTC and LTC at the time of the airdrop fork.
Ditto buying LTC at $6 and selling at $80, repurchasing in the $40s and selling at $300. Another 50 bagger in less than a year.
We’re in a severe correction now.
Well there are still advantages to using crypto for transactions, but yes I guess if you hoard BTC/BCH, then you need so keep some on an exchange so that you can convert to a more usable coin when you need to transact.
I sold some BTC during the ATH last week and had to pay incredibly high fees to get my coins moving (more than 200€ in fees). No regrets though as I really did sell at the top, and sold enough to recover 100% of the fiat I've ever invested into crypto (including fees).
I sold some BTC during the ATH last week and had to pay incredibly high fees to get my coins moving (more than 200€ in fees). No regrets though as I really did sell at the top, and sold enough to recover 100% of the fiat I've ever invested into crypto (including fees).
I'm not saying high transaction fees aren't a problem (because they are... a problem that will be solved eventually), but if you spent 200 euros on transaction fees then you probably aren't using Bitcoin properly.
1. Use wallet/services that have implemented Segwit.
2. Use a wallet where you can specify what fee to use because most wallets currently suck at estimating fees.
3. Use https://estimatefee.com to estimate the fee you need
4. Try to plan ahead.. because the quicker you need your transactions confirmed the more you can expect to pay.
1. I won't use segwit as long as it isn't even the default for Core. If they don't believe in it, I don't believe in it.
2. I did. I specified the fees needed to move my coins before the mempool got worse, then much worse, then insanely worse. I timed it quite well.
3. I use https://bitcoinfees.earn.com/ . Problem is the situation was deteriorating so fast that people who used average fees recommended by such sites actually got stuck transactions.
4. I was still only realizing that Bitcoin has a massive problem and the price was right to hedge my bets, it wasn't planned at all.
Overall I'm satisfied with what I've done, I still hold BTC, but I'm no longer a strong BTC believer, I'm diversifying.
SegWit is only solve for bitcoin problem and you can say it is bitcoin+.
bitcoin cash also is altcoin of bitcoin
bitcoin cash also is altcoin of bitcoin
Btw, I tried to send my son $100 for Xmas and I told him to give me a Bitcoin Cash address because I didn't have any BTC right now and because the transaction fees are too high. And I told him to be careful because BTC and BCH addresses are not distinguishable algorithmically. He said he had Coinbase and then I remembered Coinbase had recently suspended BCH because of some insider trading investigation (presuming that their acceptance of BCH is what lead to the recent pump to $4000). He opted for me to have a check mailed from my Wells Fargo bank even though it would be 5 days delayed.
Crypto is still not ready for prime time. It's too difficult to use, too many caveats and snafus, and too many centralized large players with too much dominance over the market. But probably these are just growing pains, not catastrophic, because some project will deliver on decentralization at sufficient scale.
[/quoteCrypto is still not ready for prime time. It's too difficult to use, too many caveats and snafus, and too many centralized large players with too much dominance over the market. But probably these are just growing pains, not catastrophic, because some project will deliver on decentralization at sufficient scale.
You would have been fine sending BCH, coinbase only suspended coinbase buys (maybe sells) deposit and withdrawal were not affected. regardless im pretty sure they've been turned back on for days.
i doubt there was any trading done by coinbase employees. I was watching on GDAX that night (I'm holding my bch, wasn't worth risking my stack trying to flip the fomo/dump) and the mayhem was caused by GDAX traders on the BCH/BTC sell book. Some hero offered 3 BTC for a single BCH, keeping the market price there. Maybe he thought it was 3 bch per btc, maybe he knew or gambled that the BCH/BTC book wouldn't open at first. Either way, because of this(imo) the starting market price on the BCH/USD book was significantly higher than other exchanges (I think it was around 4500, not 50,000 like it would have been at 3.0 btc). This caused other exchanges to pump before the USD book opened on coinbase, which surely amplified the FOMO from coinbase users.
Since coinbase is straight market buy, there was some crazy slippage as MILLIONS of USD flowed through in a couple minutes. This ate up the GDAX order book to 9k before the servers caught up enough for someone to notice.
Honestly the only manipulation done by Coinbase was to pause trading in order to stop the rise. They have no control over traders other than following TOS. Of course normies don't understand how trading engines work (that's why the Coinbase app even exists), so they assume Coinbase the company was fucking with them.
If you ask me Coinbase should have just left it alone.
Btw, I tried to send my son $100 for Xmas and I told him to give me a Bitcoin Cash address because I didn't have any BTC right now and because the transaction fees are too high. And I told him to be careful because BTC and BCH addresses are not distinguishable algorithmically. He said he had Coinbase and then I remembered Coinbase had recently suspended BCH because of some insider trading investigation (presuming that their acceptance of BCH is what lead to the recent pump to $4000). He opted for me to have a check mailed from my Wells Fargo bank even though it would be 5 days delayed.
Crypto is still not ready for prime time. It's too difficult to use, too many caveats and snafus, and too many centralized large players with too much dominance over the market. But probably these are just growing pains, not catastrophic, because some project will deliver on decentralization at sufficient scale.
Crypto is still not ready for prime time. It's too difficult to use, too many caveats and snafus, and too many centralized large players with too much dominance over the market. But probably these are just growing pains, not catastrophic, because some project will deliver on decentralization at sufficient scale.
A much needed correction, nothing out of ordinary price action.
BCH is another scamcoin, wouldn't hold it for long!
BCH is another scamcoin, wouldn't hold it for long!
Are the goals for BCH and LTC still 0.(0)3-0.(0)5? Then cash out because segwit theft risk?
I told you so. Exactly what I predicted yet again.
If you really want to talk about the HERE and NOW....
Who cares about making transactions via cryptocurrencies, really? They are a speculation vehicle based on their future utility once major adoption occurs. No one wants to buy their coffee in a neutral-inflation (or deflationary) cryptocurrency when they can buy it with the inflationary capital they have.
Who cares about making transactions via cryptocurrencies, really? They are a speculation vehicle based on their future utility once major adoption occurs. No one wants to buy their coffee in a neutral-inflation (or deflationary) cryptocurrency when they can buy it with the inflationary capital they have.
Agreed. Which is why this entire scaling nonsense from Core has just been a power grab.
As I wrote upthread, I’m very grateful for the drama and trading opportunities.
Yet there’s one group that does care about making transactions with cryptocurrencies. Specifically those who are using tokens for something they want to participate in. They’re not in it for investment; yet maybe the investors also want in it.
And that’s why we’ll not quickly get significant adoption (other than speculation on the future) without onboarding to the masses onto some activity (which requires cryptocurrency) other than just speculation. Steem has been a very illuminating experiment and now a Top 1000 website, but the details are mucked up a bit.
Try to live off of cryptocurrency only for a while and tell me how that works out. Hint: using a debit card or other service that converts crypto to FIAT is not living off of only cryptocurrency.
The most significant potential use cases of tokenization aren’t to pay for things I normally pay for with fiat. Rather for new paradigms that fiat can’t be used to pay for. The ChangeTip Must Die argument is incorrect, because who wants to maintain 100s of subscriptions!
[...]
Only Bcash FUDsters want to buy their coffee with cryptocurrency.
Sorry incorrect. Many reasons needed to send crypto transactions. I need fast and reliable crypto transactions. When BTC transactions slow down to an hour or more for the first confirmation, there will be a mad rush into BCH. We’ll see the price spike, and so goes the life of taking candy from babies.
...
[...]
Bitcoin is a PRIVATIZED reserve currency, store-of-value asset, not a medium-of-exchange! As faith in PUBLIC institutions collapses, Bitcoin is the new gold, precisely as was written in the original Bitcoin whitepaper. Which correlates with Martin Armstrong's 51.6 year oscillating shift between PRIVATE assets (e.g. gold and now Bitcoin) and PUBLIC institution assets (e.g. sovereign bonds). Real estate isn't entirely a private asset, because taxes have to be paid to the government, no one has an allodial title, and the government can seize the land for emminent domain.
Bitcoin is a PRIVATIZED reserve currency, store-of-value asset, not a medium-of-exchange! As faith in PUBLIC institutions collapses, Bitcoin is the new gold, precisely as was written in the original Bitcoin whitepaper. Which correlates with Martin Armstrong's 51.6 year oscillating shift between PRIVATE assets (e.g. gold and now Bitcoin) and PUBLIC institution assets (e.g. sovereign bonds). Real estate isn't entirely a private asset, because taxes have to be paid to the government, no one has an allodial title, and the government can seize the land for emminent domain.
Well there are still advantages to using crypto for transactions, but yes I guess if you hoard BTC/BCH, then you need so keep some on an exchange so that you can convert to a more usable coin when you need to transact.
I sold some BTC during the ATH last week and had to pay incredibly high fees to get my coins moving (more than 200€ in fees). No regrets though as I really did sell at the top, and sold enough to recover 100% of the fiat I've ever invested into crypto (including fees).
I sold some BTC during the ATH last week and had to pay incredibly high fees to get my coins moving (more than 200€ in fees). No regrets though as I really did sell at the top, and sold enough to recover 100% of the fiat I've ever invested into crypto (including fees).
I'm not saying high transaction fees aren't a problem (because they are... a problem that will be solved eventually), but if you spent 200 euros on transaction fees then you probably aren't using Bitcoin properly.
1. Use wallet/services that have implemented Segwit.
2. Use a wallet where you can specify what fee to use because most wallets currently suck at estimating fees.
3. Use https://estimatefee.com to estimate the fee you need
4. Try to plan ahead.. because the quicker you need your transactions confirmed the more you can expect to pay.
segwit is only altcoin or fork of bitcoin : other solution because network fee is so high and take long time than normal.
we need solve about time problem
we need solve about time problem
Well there are still advantages to using crypto for transactions, but yes I guess if you hoard BTC/BCH, then you need so keep some on an exchange so that you can convert to a more usable coin when you need to transact.
I sold some BTC during the ATH last week and had to pay incredibly high fees to get my coins moving (more than 200€ in fees). No regrets though as I really did sell at the top, and sold enough to recover 100% of the fiat I've ever invested into crypto (including fees).
I sold some BTC during the ATH last week and had to pay incredibly high fees to get my coins moving (more than 200€ in fees). No regrets though as I really did sell at the top, and sold enough to recover 100% of the fiat I've ever invested into crypto (including fees).
Who cares about making transactions via cryptocurrencies, really?
Quite a lot of people, which is why silicon valley poured money into creating apps that interfaced with business checkouts.
The whole fee debacle caused Steam to stop bitcoi payment because of the fees:
http://www.bbc.co.uk/news/technology-42264622
The race is now on for Bitpay to enable BCH (and perhaps other alts) - and if they can then win Steam back as a customer, we are set for bitcoin being excluded in payments but alts being enabled. Which should boost alts a lot.
My point was that people wanting to spend a highly appreciating asset are a large minority amongst people looking to hoard it.
Especially when 9 out of 10 times they can just use a depreciating asset like FIAT.
Who cares about making transactions via cryptocurrencies, really?
Quite a lot of people, which is why silicon valley poured money into creating apps that interfaced with business checkouts.
The whole fee debacle caused Steam to stop bitcoi payment because of the fees:
http://www.bbc.co.uk/news/technology-42264622
The race is now on for Bitpay to enable BCH (and perhaps other alts) - and if they can then win Steam back as a customer, we are set for bitcoin being excluded in payments but alts being enabled. Which should boost alts a lot.
I've seen a lot of people that got liquidated badly during the past few hours:
https://twitter.com/bitmexrekt
Some lost $millions because they thought, "oh futures are up, just go to short this all the way down below $10k with my wall street buddies", instead massive liquidation ensues as we almost hit ATH. Now waiting to see where this ends. 6h candle keeps going from red to green.. still many hours to see what happens (double top then pullback or pop to new ATH)
Did you ever get around syncing a trb node? it must be so slow to do it from scratch, I think it could take a month. Does it have a wallet? what's the difference from using a regular node and just ignore segwit transactions?
https://twitter.com/bitmexrekt
Some lost $millions because they thought, "oh futures are up, just go to short this all the way down below $10k with my wall street buddies", instead massive liquidation ensues as we almost hit ATH. Now waiting to see where this ends. 6h candle keeps going from red to green.. still many hours to see what happens (double top then pullback or pop to new ATH)
Did you ever get around syncing a trb node? it must be so slow to do it from scratch, I think it could take a month. Does it have a wallet? what's the difference from using a regular node and just ignore segwit transactions?
Roger Ver is a scam artist that stole the Bitcoin brand name to springboard his Bcash altcoin. That is why he gets so offended when people take the word Bitcoin out of the name because it takes the power away from the "bait and switch" scam. My criticisms of Roger Ver have nothing to do with the non-"superiority" of BCH.
It’s always a power struggle nearer to the top. He obtained the Bitcoin.com domain by some means (seems there was drama about that also). He is monetizing his assets, including his stature of being a BTC whale and a very early adopter.
Why are y’all not criticizing Adam Back for coming into the scene much, much later than Ver and doing the same bait-and-switch fooling everyone into thinking that they must have insecure SegWit instead of larger blocks, so that Blockstream/Core could remain relevant? (who needs Core if we only need to increase the block size!)
Ver takes the stance that Bitcoin is partially his baby and he is pursuing the more straightforward design which is closest to Satoshi’s protocol. Why do those arrogant jerks such as Gregory Maxwell get a free pass? Is it because you can’t see who are the million BTC opportunists who are behind Core, i.e. Maxwell makes you less jealous because he does not have that much BTC?
There’s actually a psychological reason that most of the fools would prefer Core. Jealously. Monkeys eat cucumbers without problem until another monkey gets grapes, then they go fucking crazy due to jealousy. So having Jihan Wu (the evil China man with ASICBoost hiding on every Bitmain miner), Craig Wright (the Satoshi imposter), and technological neophyte Roger Ver(ifried) as the Mt. Rushmore Three Stooges figureheads on BCH makes everyone feel about the same as they feel about Trump leading the USA. They’re jealous socialists who want the pie to be shared with everyone as Marxist, and obfuscate it as they are embarrassed or offended. Don’t you realize your emotions are being played like a fiddle. Push all the greater fools onto Core by inciting the jealousy and Marxist tendencies of the most people, then fleece those sheep. It’s always the same outcome for humanity.
I’m not arguing the opportunists behind BCH are any more noble than those behind BTC(Core/SegWit). I’m against your emphasis about personalities/motivations as a justification for speculation, investing, and such. We know that everything in crypto is corruption and opportunism.
However, many ALT coins have the same "superior" properties that are being argued in support of BCH (big enough blocks so that are empty enough hich results in cheaper transaction fees). Yet here you are championing Bitcoin Cash. Why are you not championing any alt coins too?
BCH is the only one I know of which has the support of major miners and which is basically Satoshi’s protocol with an increased block size (and a faster difficulty readjustment to compete in the mining profitability war versus BTC’s slower adjustment).
I don’t champion BCH as a long-term or the best solution. I just think it is 3 - 5X better speculation at this time than BTC (especially now below 0.1 and at 0.07 recently, although it could possibly decline to $850 and 0.05 as the bottom which would increase the upside to 6 - 10X more than BTC).
I don’t champion any altcoin at this time. Everything has too many technological and game theory flaws. All I do is try to pick good speculations.
He said Bitcoin no longer has transactions "basically for free", but such transactions are unsustainable. There is no such thing as free transactions.
I think transaction fees on my project will decline to near 0, i.e. the cost of actually validating them! (But the game theory of this design needs to be peer reviewed)
It’s ridiculous the transaction fees of proof-of-work. I had to pay $30 to get my BTC transaction today to be confirmed within an hour. And the fees will be much higher before this BTC bubble is done. The issue of high fees is going to be another of the reasons the BTC bubble will collapse into a crypto winter.
And anyways... on-chain Bitcoin transactions are still really cheap. I sent a transaction the other day with a $0.50 transaction fee. The only thing that isn't cheap is if you want your transaction confirmed really quickly. But Bitcoin is not ideal for such transactions anyways (IE. buying coffee). See below...
Your $0.50 fee transaction would delay a day or more to confirm and this will get much worse soon.
You’re misleading the readers using the same sort of obfuscating deception that Core employs.
There are many reasons that we need our transaction to confirm within the 10 minute per confirmation period, such as doing a trade that the counter party has hedged and thus demands timely payment.
0-confirmations for coffee is not the only type of transaction that is hindered by an overloaded block capacity.
[…] and killing Bitcoin would be financial suicide by the miners. Thinking everyone will just cut their losses and switch to BCH after such an attack is wishful thinking on your part.
Nobody is going to successfully attack Bitcoin. Only SegWit donations would be taken (which are not Satoshi’s Bitcoin protocol) with a smile and thank you to all the retarded mofos who idolized Core.
Bitcoin will just keep humming along fine. No one that did not use an exchange nor SegWit, will ever have their BTC stolen by the miners. Only the willfully vulnerable mofos who use exchanges and allow SegWit lineage in their BTC are at risk, as they should be. They’ve been warned in this thread. No excuses any more.
Thinking everyone will just cut their losses and switch to BCH after such an attack is wishful thinking on your part.
I already told you upthread to read the thread title correctly. I never predicted that the SegWit attack would anoint BCH as Bitcoin.
The speculation on BCH is about its relative price rising as a consequence of for example BTC’s transaction fees skyrocketing and block period slowing to an hour.
Bcash is just an ALT coin, and whose to say another ALT coin will not be the main benefactor?
BTC(ore) is also an altcoin. The benefactor will be Bitcoin(Satoshi), which can be downloaded at The Real Bitcoin Foundation. (No it’s not a joke, remember what Google’s website looked like at its inception, it’s designed to deceive viewers so they’ll remain willfully ignorant sheep they prefer to be)
If you really want to talk about the HERE and NOW....
Who cares about making transactions via cryptocurrencies, really? They are a speculation vehicle based on their future utility once major adoption occurs. No one wants to buy their coffee in a neutral-inflation (or deflationary) cryptocurrency when they can buy it with the inflationary capital they have.
Who cares about making transactions via cryptocurrencies, really? They are a speculation vehicle based on their future utility once major adoption occurs. No one wants to buy their coffee in a neutral-inflation (or deflationary) cryptocurrency when they can buy it with the inflationary capital they have.
Agreed. Which is why this entire scaling nonsense from Core has just been a power grab.
As I wrote upthread, I’m very grateful for the drama and trading opportunities.
Yet there’s one group that does care about making transactions with cryptocurrencies. Specifically those who are using tokens for something they want to participate in. They’re not in it for investment; yet maybe the investors also want in it.
And that’s why we’ll not quickly get significant adoption (other than speculation on the future) without onboarding to the masses onto some activity (which requires cryptocurrency) other than just speculation. Steem has been a very illuminating experiment and now a Top 1000 website, but the details are mucked up a bit.
Try to live off of cryptocurrency only for a while and tell me how that works out. Hint: using a debit card or other service that converts crypto to FIAT is not living off of only cryptocurrency.
The most significant potential use cases of tokenization aren’t to pay for things I normally pay for with fiat. Rather for new paradigms that fiat can’t be used to pay for. The ChangeTip Must Die argument is incorrect, because who wants to maintain 100s of subscriptions!
But tipping is stupid. Steem tried to workaround the problem by making tipping free, but of course it is impossible to make free what is not free. So users need to get something of great value they need, when they tip. Ah I’m tell you too much about my project design.
Only Bcash FUDsters want to buy their coffee with cryptocurrency.
Sorry incorrect. Many reasons needed to send crypto transactions. I need fast and reliable crypto transactions. When BTC transactions slow down to an hour or more for the first confirmation, there will be a mad rush into BCH. We’ll see the price spike, and so goes the life of taking candy from babies.
Bitcoin's Network Effect will reign supreme in the short term.
Satoshi’s Bitcoin yes. SegWit I highly doubt it. It will die stillborn or die in a massive fiery donation festival.
The Bcash "idealists" have effectively already spent their war chest pumping Bcash from $300 to $1500. Notice it has been effectively stagnant since...
Wishful emotions, not rational analysis. They of course are earning more REAL Bitcoin all the time on the game. Account for all that BTC they’re spending on the exchanges, which they will take back in the chain reorganization and bankrupt the exchanges they wish to. Do you think the Zionists don’t have a plan on how they will crater the exchanges which refuse to delist ICO tokens when they go for the collapse of BTC with coordinated SEC+G20 securities regulators to collect their CME shorts and take millions of BTC. The new EU securities laws go into effect Jan 1, 2018. The massive contagion is being prepared.
Lol. Observe the next months.
Meh, I don't know why you insisted on dragging me back into this debate...
Okay then you were attacking Roger Ver in your comments, but in the following video he articulates a very compelling and simple reason why BCH is superior:
https://youtu.be/cJAAMtqXc5I?t=181
Roger Ver is a scam artist that stole the Bitcoin brand name to springboard his Bcash altcoin. That is why he gets so offended when people take the word Bitcoin out of the name because it takes the power away from the "bait and switch" scam. My criticisms of Roger Ver have nothing to do with the non-"superiority" of BCH.
There are also many ALT coins have the same "superior" properties that are being argued in support of BCH (big enough blocks that are empty enough which results in cheaper transaction fees). Yet, here you are championing Bitcoin Cash. Why are you not championing any alt coins too?
He said Bitcoin no longer has transactions "basically for free", but such transactions are unsustainable. There is no such thing as free transactions. They must be paid for with transaction fees, or paid with inflation. He is living in fantasy land if he thinks "basically for free" transactions are sustainable. Once the block subsidy decreases enough let's see how his "basically for free" transaction fee model works...
And anyways... on-chain Bitcoin transactions are still really cheap. I sent a transaction the other day with a $0.50 transaction fee. The only thing that isn't cheap is if you want your transaction confirmed really quickly. But Bitcoin is not ideal for such transactions anyways (IE. buying coffee). See below...
If you really want to talk about the HERE and NOW....
Who cares about making transactions via cryptocurrencies, really? They are a speculation vehicle based on their future utility once major adoption occurs. No one wants to buy their coffee in a neutral-inflation (or deflationary) cryptocurrency when they can buy it with the inflationary capital they have. Inflationary capital (FIAT) of which is necessary to own in order to survive. It doesn't make any economic sense to spend an asset that is rapidly appreciating in value (cryptocurrency) when you can spend an asset that is slowly depreciating in value (FIAT). Try to live off of cryptocurrency only for a while and tell me how that works out. Hint: using a debit card or other service that converts crypto to FIAT is not living off of only cryptocurrency.
Only Bcash FUDsters want to buy their coffee with cryptocurrency. That is the HERE and NOW. And as you said in your own words... no use in worrying/caring about the future because everything will change. The HERE and NOW is that Bitcoin's Network Effect will reign supreme in the short term. Bcash holders that want to buy their coffee with cryptocurrency will miss out on the huge gains Bitcoin will receive due to the Network Effect. The Bcash "idealists" have effectively already spent their war chest pumping Bcash from $300 to $1500. Notice it has been effectively stagnant since...
I don't care for having the last word.
Okay then you were attacking Roger Ver in your comments, but in the following video he articulates a very compelling and simple reason why BCH is superior:
https://youtu.be/cJAAMtqXc5I?t=181
There are also many ALT coins have the same "superior" properties that are being argued in support of BCH (big enough blocks that are empty enough which results in cheaper transaction fees). Yet, here you are championing Bitcoin Cash. Why are you not championing any alt coins too?
He said Bitcoin no longer has transactions "basically for free", but such transactions are unsustainable. There is no such thing as free transactions. They must be paid for with transaction fees, or paid with inflation. He is living in fantasy land if he thinks "basically for free" transactions are sustainable. Once the block subsidy decreases enough let's see how his "basically for free" transaction fee model works...
And anyways... on-chain Bitcoin transactions are still really cheap. I sent a transaction the other day with a $0.50 transaction fee. The only thing that isn't cheap is if you want your transaction confirmed really quickly. But Bitcoin is not ideal for such transactions anyways (IE. buying coffee). See below...
The question is just when do they get pushed over the cliff. For Europe, that is coming very soon. For SegWit, maybe not until 2019 or so.
A lot can and will change between now and then. Looking that far into the future (especially with how fast things move in the crypto world) is useless. It is a possibility that the market will have effectively killed BCH by then, and killing Bitcoin would be financial suicide by the miners. Thinking everyone will just cut their losses and switch to BCH after such an attack is wishful thinking on your part. Bcash is just an ALT coin, and whose to say another ALT coin will not be the main benefactor? You certainly can not tell the future, and cannot argue so with speculating on what MAY happen in the future.They’ve committed to being the scaling coin, so they don’t anticipate political problems with increasing the block size. Of course if true, that means it’s centralized, but so is every coin. Who cares about the future. Everything will change. Here and now, BCH has lower fees (and doesn’t have the one confirmation block period slowing down to MUCH higher than 10 minutes, irreparably for more than two weeks).
It’s the only exact Satoshi protocol blockchain (except for the larger blocks) with major miner support.
It’s the only exact Satoshi protocol blockchain (except for the larger blocks) with major miner support.
If you really want to talk about the HERE and NOW....
Who cares about making transactions via cryptocurrencies, really? They are a speculation vehicle based on their future utility once major adoption occurs. No one wants to buy their coffee in a neutral-inflation (or deflationary) cryptocurrency when they can buy it with the inflationary capital they have. Inflationary capital (FIAT) of which is necessary to own in order to survive. It doesn't make any economic sense to spend an asset that is rapidly appreciating in value (cryptocurrency) when you can spend an asset that is slowly depreciating in value (FIAT). Try to live off of cryptocurrency only for a while and tell me how that works out. Hint: using a debit card or other service that converts crypto to FIAT is not living off of only cryptocurrency.
Only Bcash FUDsters want to buy their coffee with cryptocurrency. That is the HERE and NOW. And as you said in your own words... no use in worrying/caring about the future because everything will change. The HERE and NOW is that Bitcoin's Network Effect will reign supreme in the short term. Bcash holders that want to buy their coffee with cryptocurrency will miss out on the huge gains Bitcoin will receive due to the Network Effect. The Bcash "idealists" have effectively already spent their war chest pumping Bcash from $300 to $1500. Notice it has been effectively stagnant since...
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