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RE: RED ALERT - Mt. Gox 2.0 Brewing - Bitfinex May Be Issuing Unbacked Tether To Paper Over Banking Service Loss - What We Think We Know (Part 1)
Sorry, I'm not a big fan of BTC but this post seems like a BitcoinCash fanboy post :( It's targeting the areas BTC-supporters aren't defending. BTC-fans' main argument is philosophical, not technical. Which -again- I don't support.
At the same time, Bitcoin Cash's technical attack on BTC is meaningless, as there are loads of coins that are technically way better than Bitcoin Cash :)
A little more unbiased posts would be welcome.
You should probably check out my comments above. This post is not intended as serious financial advice, but a warning. You'll note I said no crypto was going to be safe in such an event. Considering Bitcoin is indeed a shit-coin now, I had to defend that statement at least a little.
I just gave you fundamentals and rumors for why BTC is a sell, and one option to buy. Do with that what you will.
"If Bitcoin is not a shitcoin, why do (almost? not even sure I need the qualifier...) all the other top coins have faster transactions AND lower fees? Why is Bitcoin worth 8x what it was a year ago, despite performing all of its functions more poorly (other than speculation?) Did the whitepaper say "Casino Shitcoin" in it somewhere that I missed?
I was BTC's biggest proponent for most of its life, while it had fast transactions and almost no fees. Now, I can't throw a dart at CoinMarketCap without hitting a crypto that has BOTH faster transactions and lower fees. We're typing across the platform of one right now.
FWIW, I think there are many options better than Bitcoin Cash on fundamentals, but the market is not always huge on fundamentals. Monero is one. If you're ok with higher risk, there are many more worth considering.
What you call bias, I correctly call telling it like it is. The fact that Bitcoin Cash is the best current alternative to fulfill the market's fickle need for name recognition and network effect, and the fact I have put my money there, does not detract from the obvious points of fees and transaction times."
BTC (which I own literally zero - I'm an altcoin trader), isn't a shitcoin and you know it. Slower and more expensive transactions aren't the only elements to consider when talking about crypto-assets. Name recognition aside, which of course it has, it's also the gateway to almost all other coins. It has a much MUCH larger community in terms of both philosophical supporters and developers (compared to BTCash).
I can't believe you made me defend Bitcoin! Honestly, to me, any hoarding-rewarder coin is philosophically wrong and that includes Bitcoin and Bitcoin Cash. They're also opposite of what they claim to do; instead of seriously decentralising, both coins take the centralisation away from governments but give it to miners or a few wallets with hoarding goals.
PS - I hope the fact I put this early in my article clarifies my intentions:
"See the link dump at the bottom to do your own due diligence, but leaving your coins at exchanges throughout this holiday weekend may be poor judgement."