- Joined
- Apr 2, 2013
- Sythe Gold
- 1,113
- Messages
- 2,278
It's simple really
Why?
1. BCH does not have SegWit and has no plans to try to add it
2. BCH = 8MB ... Anyone who thinks Bitcoin (BTC) will not increase block size eventually is crazy
3. BCH is not as secure as Bitcoin or other coins that do the same thing it claims (Litecoin)
4. Nearly all of BCH transactions are from either exchange to exchange or used for day trading because its price is easy to predict since it is somewhat tied to BTC (LTC is locked to BTC, but it actually has real adoption, rather it is because it is accepted at 41% of all BTC atms, more exchanges accept it, and more businesses accept it).
5. Market confusion is never good for the market
6. Still has 10 minute block times lol
7. Lower hashrate and hard forked
8. BCH was airdropped. The only reason it held such a high USD pairing was because of this. BTC holder didn't just want to drop the coin for nothing, because, well, it's free coin. BCH stole Bitcoin's name, which is another reason for its high USD price.
9. Payments... this is my favorite part so stay with me....
The argument for BCH is for it to be a "currency" and used as a payment coin like LTC, DASH, Zcash, etc.
But there is a problem... If I did want to buy a coffee with BTC, I wouldn't have to wait for those long 6 confirmations, because most coffee shops who accept Bitcoin offer 0 confirmations. Why? Because it is not worth the time or the effort to scam someone over a $3 cup of coffee. Coffee shops know this and see it as a marketing scheme. "We accept Bitcoin!".
What's also important to know is that most people who know about Bitcoin, don't know what Bitcoin cash is, and may even think it is an actual paper tender. I know this sounds dumb, but I have asked a few people who aren't in the space and that is the answer they gave me when asked "do you know what BCH is?".
BCH will not last, it just won't. I can talk about BCH vs LTC, but I am not going to because as many of you know I am an LTC holder, but I think most of you are smart enough to know BCH is probably the most over priced coin in the top 15.
Why?
1. BCH does not have SegWit and has no plans to try to add it
2. BCH = 8MB ... Anyone who thinks Bitcoin (BTC) will not increase block size eventually is crazy
3. BCH is not as secure as Bitcoin or other coins that do the same thing it claims (Litecoin)
4. Nearly all of BCH transactions are from either exchange to exchange or used for day trading because its price is easy to predict since it is somewhat tied to BTC (LTC is locked to BTC, but it actually has real adoption, rather it is because it is accepted at 41% of all BTC atms, more exchanges accept it, and more businesses accept it).
5. Market confusion is never good for the market
6. Still has 10 minute block times lol
7. Lower hashrate and hard forked
8. BCH was airdropped. The only reason it held such a high USD pairing was because of this. BTC holder didn't just want to drop the coin for nothing, because, well, it's free coin. BCH stole Bitcoin's name, which is another reason for its high USD price.
9. Payments... this is my favorite part so stay with me....
The argument for BCH is for it to be a "currency" and used as a payment coin like LTC, DASH, Zcash, etc.
But there is a problem... If I did want to buy a coffee with BTC, I wouldn't have to wait for those long 6 confirmations, because most coffee shops who accept Bitcoin offer 0 confirmations. Why? Because it is not worth the time or the effort to scam someone over a $3 cup of coffee. Coffee shops know this and see it as a marketing scheme. "We accept Bitcoin!".
What's also important to know is that most people who know about Bitcoin, don't know what Bitcoin cash is, and may even think it is an actual paper tender. I know this sounds dumb, but I have asked a few people who aren't in the space and that is the answer they gave me when asked "do you know what BCH is?".
BCH will not last, it just won't. I can talk about BCH vs LTC, but I am not going to because as many of you know I am an LTC holder, but I think most of you are smart enough to know BCH is probably the most over priced coin in the top 15.
