Bitcoin vs Bitcoin Cash!
Bitcoin in my opinion was meant to be a storage currency, similar to gold. You buy it not to use it, but to store value and hold. Bitcoin Cash believes that's the flaw with bitcoin because it can't be used for every day transactions. With them increasing the block size to 8mb this allows for faster transactions and future new investors. With billions coming in from the Korea and 30% of miners leaving bitcoin this has caused some huge volatility in the market between the two coins.
Luckily in crypto things correct themselves pretty quick, and I think we're seeing bitcoin recover quite well. I think both coins have their purpose and should not be compared (so no I do not believe in changing bitcoin cash into bitcoin and calling bitcoin -> bitcoin core). Honestly Bitcoin cash should be happy that it's getting the spotlight because of its name when there's so many currencies that do exactly what it does... Dash and Litecoin being two that come off the top of the mind
Anyway, don't want to make this long... what are you guys thoughts on the recent news and price fluctuation. Also where do you stand on the topic?
I'm starting to think that the recent huge pump we've seen is a result of miners who want to make better profits from a new coin. Either that, or its a carefully concealed plot by bankers to further divide Bitcoin.
To be honestly, I'm not certainly which side of the coin (no pun intended) I should invest in. But I'm staying put in my alt coins until I turn a profit on them. I dont think that altcoins are completely dead yet.
There's rumors that Bitcoin Cash will be the winner because it's institutional money coming in to be able to control the financial space once again... just like in stocks with the market movers. I'm hoping this isn't the case or that we can hold off a couple more years so that the smaller players like me and you can make good enough profits in that time.
Totally agree, in my opinion bitcoin is very bad coin. No real usage, high transaction fees with relatively slow transactions. First movers advantage, nothing more.
Every cryptocurrency is first movers advantage, that's why people rush to jump on ICOs because they can get in first and make quick easy profits.
It has tons of usage as a storage of wealth. But sadly slow transaction speeds because it was the very first cryptocurrency and there was no way Satoshi could have accounted for the huge demand a currency of this scale would need to support all the people that would one day try to adopt it.
That's why the original bitcoin that Satoshi created won't become mainstream adopted, it needs to be significantly altered. And that said, I don't think we need to continue calling it "Bitcoin" if it is something far different than what Satoshi originally created.