/biz/ - Business & Finance

>>18934248

>Honest question here - Won't BCH have the same issues that BTC has if the network becomes congested? By that I mean high fees and slow confirmation times.

No--as it stands, BCH could service millions of people with virtually no fees. This is because it did something called increasing the memory of the block size. The banks and financial institutions which took over BTC in the early days didn't want to do this, because there would have been less money to be made in fees. If you want to learn about the inherent problems of BTC and what BCH has solved, start with Mike Hearn's 2016 post here:

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

"Bitcoin XT," which he talks about in the article, is essentially BCH.

Besides Hearn, Gavin Andresen was the closest person to Satoshi Nakamoto, as well another leading leading Bitcoin dev, and he also left BTC for ethical reasons because he knew it was a scam. Andresen has directly endorsed BCH, and the most passionate part of the original Bitcoin community is behind it.

You can learn more here:

https://medium.com/scalar-capital/the-bitcoin-cash-story-e55b277491f9

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

https://medium.com/@jonaldfyookball/12-reasons-bitcoin-cash-is-the-real-bitcoin-8d5547988374

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

I don't post on Reddit, but the subreddit is worth browsing:

www.reddit.com/r/btc

As far as BCH-users are concerned, BCH is the real Bitcoin and BTC is an aberration, because BCH follows the plan in Satoshi's white-paper of a decentralized peer-to-peer cash-system. Satoshi himself endorsed increasing the memory size on Bitcointalk, so they are simply following his original plan. Indeed, Satoshi himself hard-forked Bitcoin in the early days to fix a critical bug.

>>18933510

>BTC's price is not based on speculation alone. It costs money to mine BTC, and the price reflects that.

The fact that something requires effort to make isn't a use-case. That's the Marxist labour theory of value, that simply putting work into something gives it worth. By contrast, BCH coins both require effort to create, and have enormous intrinsic value. BTC coins have none. In fact that have less than intrinsic value: they have a negative value, because, when you buy BTC, you support an evil system of banks and financial institutions controlling you.

>>18932815

I'm going to repeat to you here what I said in another thread.

"Do you realize how ridiculous it is to get excited about BTC going up? Even Boeing is up 5% today. BTC only moves with the stock market. The 60% March crash shows that it isn't a hedge against economic disaster. You're picking up scraps from the stock market while believing that you're engaging in, or profiting from, something revolutionary.

Perhaps you'll retort that you're hodling. But the fundamentals of BTC are horrible, so that it has no long-term future either. We saw what happened when it went to $20,000 before: $100-fees. Three-day waiting times. The code is irrevocably neutered by Blockstream. You can only solve the problem to a minuscule extent with third-party and second-layer solutions which wipe out privacy, and enslave you to banks and financial institutions. BTC has absolutely no use-case, and is propped up merely by speculation. Mean-while, everyone who bought over $10,000 is still holding the bag three years later.

If there is a future for crypto, it's probably going to be BCH or XMR. What we can say with certainty is that it won't be BTC. Ride the pump up if you're already holding, set a stop-limit, and then, when it begins to fall, cash out while you still can."

>>18930717

If you own BTC (which is the subject under discussion), you don't "buy with your crypto all the time." You virtually never do. The fees and waiting-times are enormous. Australian merchants just got rid of BTC altogether, because it was so rarely used and useless as a medium of exchange. Mean-while, BCH has 97% market-share there. >>18930645 is right.