Bitcoin Cash fading into obscurity?
Excitement for the alternative currency seems to be fading...
The last time I remember Bitcoin Cash hanging around below $1 000 was way back, months ago, when they first launched an attack on Bitcoin, attempting to cause a so-called "flippening". Switching a large number of miners over to Bitcoin Cash, dumping a pile of Bitcoin, and pumping the Bitcoin Cash price, all in a matter of hours. It was the most dramatic pump-and-dump coordinated attack against Bitcoin that had ever happened.
Bitcoin Cash offered an alternative to the problems beset upon Bitcoin: high fees, slow transactions. It was presented as a better solution, using larger blocks instead of SegWit - a solution that Bitcoin Cash supporters feared diverged from the true intent of Bitcoin and led to the possibility of centralisation and corruption of the currency (never mind that Bitcoin Cash hashing power was, and is, far more centralised than Bitcoin).
Additionally, proponents of Bitcoin Cash claimed websites like bitcoin.com, posing as the "true" Bitcoin (the real website is bitcoin.org), yet at the same time, disparaging what they dubbed "Bitcoin Core". Video clips of Roger Ver, infuriated that anyone would disrespect the Bitcoin Cash name by abbreviating it to "BCash", while simultaneously dubbing Bitcoin as "Bitcoin Core" and confusing people into using the Bitcoin Cash wallet for Bitcoin (causing losses in funds), reeked of hypocrisy.
And now, it doesn't matter. Bitcoin Cash doesn't really matter. Not trying to poke the bear here (OK maybe I am, a little), but the problems that Bitcoin Cash attempted to solve regarding Bitcoin simply do not exist any more. With Lightning network implementation, not only will Bitcoin Cash no longer be a faster alternative, it will be a slower, more expensive alternative. It simply serves no unique purpose any more.
Expect the value and prominence of Bitcoin Cash to slowly fade away as Bitcoin dominance continues to recover. And if you have been away, it's time to move back to Bitcoin.
*This is not professional trading advice - it's just my opinion!
If you're interested in trading cryptocurrencies, check out Binance by using the link in my profile @xsid and sign up today!
image source:
https://topbrokers.com/cryptocurrency/bitcoin-cash-vs.-bitcoin-confrontation-forecast-in-2018
Hi @xsid
Is this the raise of Bitcoin Cash again? Bitcoin Cash via SMS (no internet required). Haha!
Would like to know your thoughts.
It's an interesting idea. It could be implemented in the future with many different cryptos, not just BCH (although as far as I know, for now, BCH is the only one offering this SMS feature, which is admittedly kinda cool). It could catch on in regions where people can text, but do not have internet access.
The thing is, BCH offers nothing truly unique over a huge range of cheap, fast cryptos. I could use Dogecoin, for example, to accomplish pretty much anything that BCH offers.
The difference with BTC is its hashing power, security, decentralization (not as decentralized as some other currencies like Vertcoin), widespread adoption, and authenticity. I just don't see those characteristics in BCH.
If you're not filling the blocks in BCH then everyone will pay minimin tx fee. What happens after 1 or 2 more halving events? That is a very little reward for miners so it will have a very low hashing power. Bitcoin's selling point is a highly secure PoW consensus that requires a huge hashing power. The whole point is to move the miner reward from minting new coins over to tx fees over time. That requires full blocks. BCH is a technological dead end.
This isnt true. For the sake of an example lets say BCH is at $1m for 1 BCH, and the blocks have 1gb limit, if everyone paid the minimum amount of 1 satoshi per transaction, the miner will get $40k in fees per block.
Nice work @xsid
I'll just have to hang around here for the latest news on Crypto if you keep this going!
Heh - I try to write one or two articles a day, so yeah, please stick around, @dpl!
Have you thought about a signature at the end of you post?
It's all structure very nicely but you should consider bringing in a signature image or something at the end so people can associate the post with you.
I have done it for my post and saved the code on note pad. Once done I just copy past and I don't have to import pictures again.
He has one. Everything below this is the same in every article:
*This is not professional trading advice - it's just my opinion!
Yeah I just changed it now, actually. Reddit doesn't like me posting articles with referral links or donation addresses in them, and that's where the majority of readers first see my articles.
For example, this article had more than 5000 views on Reddit (and a ton of arguing!), whereas it only has 1000 views here (most people don't click through and actually read the article, they just read the title and react lol).
I wonder though, is there a legitimate way to show referral links and donation addresses without it being considered spammy? After all, I don't think there's anything wrong with having a donation address or referral link at the end of an article that has taken some work to put together. I get that it would be spam if it was just a misleading title linked to referral links and donation addresses, but that's not the case.
For now, I've instead posted my referral link in my profile @xsid, got rid of the donation addresses, and I added a banner photo of Banff National Park, not far from where I live.
Any suggestions on how to post referral links and donation addresses without releasing the spam hounds of Reddit?
Why read the content if you can read the title and then start arguing! Haha!
I'm not that active on Reddit but there are a few of my colleagues familiar with it and they sound very clued up. Will try and find out for you man.
I don’t really feel like they are that spammy, as long as your post is centered around them. But you should probably limit it to just a few, for example your bitcoin address and binance referral. Definitely don’t get rid of them, though, because people do want to support you, for example I donated a few BTC a while back.
Hey I really appreciate that! Sorry I never saw this comment before. I was just browsing through some past articles and saw that you donated BTC. That's awesome, thanks!
All good man
For future viewers: price of bitcoin at the moment of posting is 8439.50USD
I don’t really care about the spamminess of this bot, but I don’t like seeing the lie that is the number of comments on my post.