Why I am sceptical towards BTC classic and hodl my BCH
How can you hate on Daddy Bitcoin?!
People have been looking a lot at the BTC community the past few weeks. There has been a lot of turmoil and while many popular voices concluded: "Bitcoin prevailed!", "The people won against the power!".
For me the conclusions were: "There is a power struggle within BTC", "Forked chains of BTC will get chunned by the BTC-community", "BTC is too big to fail, that is why it is the best"
A lot of the arguments and especially the FUD, backdoor deals and big influential corporations that showd up in all the drama were damaging to the BTC reputation overall, it reminded a lot of the narrative spinning that we all know and hate from the mainstream media.
On the other hand there is a very real problem: We saw a lot of mainstream adoption this year, for example the food delivery service lieferando.de accepting BTC as a method of payment. I have used it before and while the 20 minute transactin time and 3$ were already annoying a few months back, I don't think people are willing to pay >6$ transaction fee just to pay a 12$ pizza delivery.
BTC is not meant to be a currency but a storage of value
I first saw Vitalek from Ethereum make the argument that it is not a bad thing to have BTC so high up in price and so immobile that it is only an alternative to the stock market. He also said that speculation into a digital asset would be more healthy for the world economy compared to speculation into real world assets like food and production resources.
While I agree with that, the early use case of BTC was a currency and if that use case is abandoned then BTC loses a lot of it's value, imo.
I have not used BCH since I got my 0,05 through the Fork and I will hodl, not because I believe that Bitcoin Cash is the better Bitcoin, but because I do not like nor trust the "all alternatives to BTC are an evil attack" narrative that I saw many people make to some degree and the "too big to fail"/Titanic mentality of many BTC-fanatics seems troubling. A lot of the Crypto spirit involves that we will not have one consensus on one Crypto, but multiple different consenses on different blockchains, we do not want a rule of the majority and co-existing forks and altcoins are vital to achieve that goal.
I am not an expert on Crypto or BTC, if you think my argumentations is bs, please tell me in the comments