RE: Bitcoin (BTC) Evening Update: $18,424 and then $20,467 Short Term Targets

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Bitcoin (BTC) Evening Update: $18,424 and then $20,467 Short Term Targets

in bitcoin •  11 months ago

There's always something coming Real Soon Now that will make BTC work. Segwit. Then 2x (oh, wait, they promised that then reneged). Lightning Network. Etc.

Yes, Wrecked Bitcoin might eventually be made to work reasonably well, if the core devs and the miners can get their act together and stop being short-term greedheads.

But Bitcoin Cash already DOES work the way Bitcoin was intended to work. So why wait around and hope that maybe, just maybe, the core devs and miners will someday extract crania from recta for more than five minutes running?

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"Yes, Wrecked Bitcoin might eventually be made to work reasonably well"

Well said!

Increasing the block size undermines the ability for individuals to participate in Bitcoin mining. The notion that you should increase the block sizes and forgo the strength of the decentralization of the network by inhibiting the ability for individual participation in the securing of the network - all so that people can buy a coffee with their Bitcoin is very misguided in my opinion.

It doesn't matter what Satoshi's intentions were - the only thing that matters is what actually makes Bitcoin revolutionary, which is - Bitcoin is the first global decentralized digital asset and is more secure than any method of peer to peer transaction that humans have devised to this point.

Fees pay for mining, which secure the network. If the price of Bitcoin Cash ran up substantially, the fees would skyrocket too. Bitcoin Cash is not immune to price volatility - how can you expect it to function as a means to make small purchases any better than Bitcoin or Litecoin.

And what say you about Litecoin? As far as I'm concerned, Litecoin is far better suited to achieve what BCC supporters are going for. BCC is totally unnecessary and confusing for the average consumer.