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RE: THE CASHENING | Will Bitcoin go to zero soon? | MUST SEE!

in #bitcoin7 years ago (edited)

Please don't scare new people away from Bitcoin with bullshit FUD. Your theory won't happen, because 50% of the miners moving to BCC will not happen, there is often an altcoin more profitable to mine than Bitcoin, the real professional and big miners mine only BTC with a long term view.

Maybe a small part could move over, and not all at the same time. The effect on the difficulty will be tiny because BTC has a lot more hashing power behind than BCC. If the hashing power on BCC doubles, this will cost BTC only a small %. Then the difficulty on BCC goes up and it is less profitable again.

BTC is the only cryptocurrency that enjoys the first mover advantage, network effect and the biggest infrastructure. Beside that most innovation takes place here, Lightning network, RSK and more 2nd layers will come soon! This will transform BTC from a payment method to the internet of money. This will bring a lot of value to the network and miners will follow the value.

BCC could be a faster and cheaper payment method in the short term (BTC will overtake because 2nd layer solutions will scale exponentially), but Litecoin is a better altcoin for this purpose. The only purpose of BCC is politics and the reason why it is more profitable is because it is pumped by some rich big blockers.

Even if I think BCC is useless, I think it is best to HODL it for now if you got it during the fork, but if you are new to bitcoin the advise should be: BUY BTC and not BCC

Here my post about this subject before the fork:

https://steemit.com/bitcoin/@michiel/six-reasons-why-i-will-keep-my-bcc-after-the-fork-on-the-first-of-august-even-when-i-am-heavily-against-it

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Thanks for the sanity

@foodnature was just looking for a good sound bite if you see what he says is highly unlikely to happen, possible but almost 0% of possibility.

i totally agree with you

good statement. UPvote you!

follow me and upvote my post i will follow u back and upvote your post.

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