The co-founder of Bitcoin.com has sold all his Bitcoin and moved to Bitcoin Cash, here's Why.
Emil Oldenburg says Bitcoin is “virtually useless” and has no future as a tradeable currency.
I was just forwarded this article from another financial and research analyst who follows the Mining sector, I kept talking to him about Crypto Currencies and why the Blockchain will be the future of commerce and the Internet. I read the article and can fully understand why Emil sold all his Bitcoin and moved to BCH, Bitcoin is too expensive to use and has latency issues, I have been saying the same thing for some time now. I have also been saying that with the introduction of BTC Futures contracts, Wall Street will now control the price of Bitcoin.
Here are a few bullet points from the article...
Bitcoin is “virtually useless” and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world’s largest bitcoin websites.
Oldenburg has sold his bitcoins and believes others will do the same when they realize how illiquid the market is.
He says bitcoin's drawbacks are high fees and transaction lead times - a heated topic of discussion in the community today - and resistance to change from people running the old bitcoin network.
Oldenburg believes there's a brighter future for Bitcoin Cash, a spinoff currency of bitcoin that is now being actively promoted by bitcoin.com.
Read the full article at: https://nordic.businessinsider.com/the-swedish-founder-of-bitcoin.com-one-of-the-largest-sites-in-the-industry-has-sold-all-his-bitcoins-because-its-as-good-as-useless--/
Does that mean all Crypto Currencies are Dead?
Not at all, Emil was wise enough to know that Bitcoin has issues and for now has moved to Bitcoin Cash. Other cryptocurrencies will come and go, rise in price and then drop like a rock... welcome to the volatile world of Cryptocurrency, where fortunes are made and lost in minutes.
Here are a few suggestions when it comes to trading Cryptos.
- Do your homework and research the crypto you plan on buying.
- Don't get emotionally attached to any Crypto story if you plan on trading them.
- Buy and hold only ones that have a great use case, can't be easily replicated and has industry support.
- Buy Low Sell High, this goes without saying when it comes to any investment.
- Follow technical analysis and learn how to apply them to Crypto
- Fundamental analysis does also apply to Cryptos, do your homework.
These are just a few things to consider when trading Cryptos, but ultimately the choice is yours when it comes to making financial decisions. Many will say Bitcoin will survive because it's the first and best, also has the biggest share of the market, so it the leader. That may be the case for now, but no one knows the future and where all these cryptos are going... for all we know they are here today and could be gone tomorrow, only time will tell.
What are you going to do... Buy, Hold or Sell Bitcoin?
You seems to be another FAKETOSHI. Trying to pump crap like BCash. Bitcoin.com belongs to Roger Ver who forked Bitcoin chain to demean it.
Real hero to follow is Charlie Lee who sold and donated his Litecoins to focus completely on the project than speculate it with influencing news.
BCH/BCash is another alt coin which may fail due to poor development team and trying to vertically scale it than horizontally using Lightning Network.
BCash/BCH is being pumped unorganically and will fail eventually due to lack of good intent.
@themystic... I am still fairly new to the Crypto world even though I found out about Bitcoin back in 2011 from Jeff, and not trying to pump BCash or any other coin. I am taking a diversified approach to the Cryptocurrency sector for now and I thought the article was interesting, so I added my comments and thought I would share it here... Cheers
Great. My bad, I had no intention of offending anyone but spreading the truth is what it is. Of course we need to have diversified approach when it comes to investments.
Keep up the good work mate and let's help the community for good. Cheers!!!
I do my best to keep the people who pay attention to drama outside my peripheral. I don’t control the market like they do, wth do I care?! Childish antics between here, twitter and wherever else is an embarrassment to the market, in my opinion. Typical humans being human they can’t stay satisfied :yawn:
I’m a long-termer, “Guilty!” But all the ‘its useless’ and ‘the old bitcoin’ talk is ridiculous. I liked listening to Roger Ver a lot more when he was crying about innocent children being murdered, the crying he’s doing today is really loud an annoying.
Thanks @themystic this post needed your comment
Sure, I appreciate your thoughts. I know lots of drama going in this space and we can call it as politics. FYI, Politics by its nature is a power n money game. I will come back to this point.
I am in this space since 2013. As you said I did follow Roger for long time and always appreciated his views on Bitcoin and the efforts he has put into.
Then I also started following the guru of Bitcoin/Blockchain/Cryptography/Finance; the one and only "Andreas Antonopoulos". I have been working in Finance domain since 17 years and am a Software Architect/Engineer by role. I can understand pretty much from the Business and Technical perspective and co-relate it well than anyone having just one sided knowledge or having no knowledge about Finance/Softwares.
Of course what Roger said murdering innocent children is really humanitarian but has nothing to do with the topic Bitcoin/Blockchain. In that case I can also ask you to peep into his past but just let it go as it's not related to what we are discussing. Now coming back to politics; Roger Ver and his team (almost all of whom have a shady background with enough money) have this propaganda to demean the Bitcoin by trying to snatch the Bitcoin brand to associate it with BCash/BCH. Considering his educational background; he has an average degree where in he calls him an economist after reading few books. No one heard his name before Bitcoin. Now he is attacking Bitcoin to rip benefits out of it to push n pump Bcash hard. Also check when BCash price goes up; the major pump happens and gets initiated from Korean exchanges and is not an organic growth as it is orchestrated.
Now to correct you; there is only one Bitcoin which has a ticker BTC. There is nothing called as old or new Bitcoin or even Bitcoin core. BTC is the Bitcoin and rest are simply new or forked alt-coins. Don't want to offend but you need to do more research to see what's really happening in this space if you are into crypto currencies.
Everyone has right to put their opinion but if you have knowledge helping the community with real facts always is considered to be good karma. Your statement "Childish antics between here, twitter and wherever else is an embarrassment to the market" is correct but there are both types of forces negative and positive. I am just doing my 2 cents to make aware of the fraudulent activities carried on by Bcash/BCH team.
These are not just mu opinion but also I have mentioned facts in here. So do your research if it's your hard earned money rather than regretting later on your fate.
God bless all positive creatures in this space and the whole planet. Merry Xmas :). Cheers!!!
That ‘old bitcoin’ is a quote from Emil Oldenburg:
Thanks for the cutout. But this is what I am saying. Is there a new Bitcoin? NO, there isn't.
Bitcoin Cash got forked and it is trying to snatch the brand Bitcoin which is demeaning in itself. Even you can fork Bitcoin today but it will have its own identity. That's Mr Oldenburg's view and not a declaration statement.
I am not against BCash/BCH but the way these guys are attacking Bitcoin is not acceptable. Roger Ver and Craig Wright are thugs and have personal motive behind it as they won't profit from mining if they support the segwit functionality. No issues but simply carry your own version and upgrade it and compete with Bitcoin to prove you are right.
In 2018 once lightning is live; BCH will lose it's value big time though it will exist. Good luck to all those who are victim of this propaganda.
I am just trying to help the newbies to avoid confusion for healthy community. Cheers!!!
I feel like there is a lot of "insider" activity regarding crypto-currency... i see the potential value as a legit currency, but to be truly great, they're going to have to come up with a coin that is scalable and safer... seems like every other day, you're hearing how such and such platform lost millions of dollars due to hackers...it will get there... i think the volitility will stabilize once the tech reaches a more mature level.
I moved out of almost all of my BTC holdings, I think right now with the extremely high cost of using bitcoin (roughly $20 per tx), coupled with the high price of buying in, and the rapid rise of some alt coins - bitcoin might be a bit stagnant until Q1 2018
@glennrf , As we move into the holiday season, trading usually slows down in regular markets, not sure about how it will pan out for cryptos this season. Which is why I think BTC will go into a sideways trading range for some time, maybe pick up in the new year. I think a lot of trading will happen in the alt coins during the holidays, probably ones that are not followed too closely.
Buy low sell high: I thought 300% was high for Verge :(
Funny enough, I just found this article on Steemit... seems like the founder of Litecoin sold his position and makes ya wonder why the insiders are selling?
https://steemit.com/litecoin/@zer0hedge/litecoin-founder-cashes-out-sells-entire-stake-after-9-300-rally