As BTC becomes more sluggish every day, the cashening rises on the horizon
Over the last few weeks I have been getting more and more annoyed by the constant BTC congestion and the skyhigh fees. I'm clearly not the only one, Bitcoin Cash just passed 2000$ and keeps going higher.
It's now well above 10% of BTC marketcap and this might be the first real sign of the "cashening" happening or rather beginning to happen. The mempool is constantly filled with 100k+ unconfirmed transactions and that's WITH an average fee of 10-20$.
ATM the mempool has 209k unconfirmed transactions and that number is only growing.
The mempool growing at the same time Bitcoin Cash price is rising is a recipie for disaster. This effectively gives miners more incentive to mine the Bitcoin Cash chain, further slowing down and congesting the BTC chain.
I have now personally started to move away from BTC as I have no faith in it's ability to stay usefull. Without any real use it's just a ponzi, not digital gold. The network effect of lots of fools holding coins and never spending them is zero. People should not forget that BTC's real value is as money, not as an asset.
Let me know if you guys have any good sugestions outside BCH. My BTC is gathering dust and I don't wanna sell a kidney each time I wanna move/use it.
Bitcoin is neither a ponzi nor digital gold. It's digital tulips! :-)
PS!
https://www.reddit.com/r/btc/comments/7koiqf/330_growth_in_active_addresses_for_bch_in_1_month/
I just read this aswel, if that's not a solid sign of what's comming, then I dont know!
For me, a good strategy is to shift to crypto that will be good transaction vehicles. The main reason for Bitcoin Cash IS the problems you see with Bitcoin now. BCH is there to make transactions sustainable. By the same logic, Litecoin, Dash and Ripple are all good because their aim is to be good transaction tools, which was what Bitcoin was supposed to do.
I'm a little bit concerned about LTC at it seems to be following BTC down the same path, ie. LTC has less value if BTC has less value. So I'd rather take BCH: As for Dash and Ripple I don't really know, can't say I've done my homework.
There's just so many "revolutionary" projects out there. I really look forward to seeing a thriving ecosystem around a coin, like the one we saw around bitcoin earlier. BEFORE it was all "haha, look guys! NEW ATH!"...
Litecoin has somewhat held its ground today when BTC is dipping.
Bitcoin Cash is the go-to right now for people looking to exit Bitcoin.
I really do suggest you to read up on Dash and Ripple. I personally don't have money in Dash yet but I do in Ripple.
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