Food for thought for bitcoin holders.
Without utility, there's no "value" to be released when you're done storing it. This whole "bitcoin is gold/store of value" meme is based on greater fool theory.
BTC holders are basically just waiting for someone else to come along and pay more money than they did for their useless internet token, and that person will only be buying in the hopes of doing the same.
Meanwhile, BCC continues to be sound money, just like Bitcoin was from 2009-2016.
To clarify, being sound money and a store of value are not mutually exclusive, but rather feed off one of another in a virtuous cycle. Bitcoin is a good store of value because it is good money, and it's made a better form of money because it's a good SOV. Removing one side of the equation doesn't maximize the other, you're just left with useless tokens either way.
Good post, it reflected my opinion very well.
The price of BTC at this point is only held up by speculators wanting to make money. There is no practical use behind it to justify its maketcap. The main reason for this are the extremely high fees and the slow transactions. Segwit in combination with the lightning network will reduce these problems by a lot. Therefore the intrinsic value will rise and the price will skyrocket. BCC does not have this advantage because no one uses it.
Very true. For BTC to be used as a store a value, it must solve its current issues. NB. We cannot compare BCH with BTC, BCH is only a month old
No, BTC is a great store of value right now. To be a good payment option, some work has to be done like SegWit or Lightning Network.