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Bitcoin has failed; Bitcoin cash to the rescue

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Written by   19
1 year ago

Imagine Satoshi Nakamoto's face right now seeing his great invention Bitcoin has risen its price. What do you see in your mind?

Is he jumping with joy?

Or sighing with dissapointment?

For me it was the second one. Why? It is because..

Bitcoin has failed to be a digital cash?

Bitcoin was created for only one reason - to be a digital payment system replacing the intermediaton and trust vested on centralised financial institution.

It failed long time ago when small blockers disagreed to increase its blocksize.

Why it had failed?

Network congestion happened and caused slow and high-cost transaction.

A true peer-to-peer digital cash should be:

1. Low-cost

I think the goal to remove third parties in a transaction is also a way to lessen the burden of two parties paying extra fee.

Yes, Bitcoin transaction is secured but with its high transaction fee, it will feel like you are still paying a financial institution.

2. Fast in transactions

A simple explanation can be instantly seen on this picture.

Imagine those people are waiting in line at the cashier. Because of Bitcoin's transaction limit at 7tps, you will gonna wait in line for too long making a waste of your time.

A digital cash should be instant because a time that is wasted is a money that is lost.

Bitcoin should be used as a money

Bitcoin is more gaining popularity as an asset for profit, not a digital cash. A very far path where it should be as planned by Mr. Nakamoto.

Don't be upset Mr. Nakamato, Bitcoin Cash got your back

In 2017, a new coin was created, a hard fork from the original wherein its goal is to achieved what the original had failed to do.

Bitcoin Cash was born to solve the scalability issue of Bitcoin.

By increasing the blocksize limit, more transactions can be processed and congestion in the network that is causing higher fees can be solve.

Bitcoin cash was developed in a way a real peer-to-peer electronic cash was meant to be.

If it meant to be a digital payment, why Bitcoin cash is still too undervalued?

Bitcoin cash has gone a lot of ups and downs. Many attacks are done to devalue BCH because it is a threat. A threat to their money making scheme they have made.

This attacks was scattered everywhere to all bitcoin cash supporters on twitter.

They always say that BCH has not increase the transaction fee because its transactions are few.

We have just flipped bitcoin transactions per day, and the good thing is, median fee is around $0.0016 USD.

Those transactions are micropayments

Yes, maybe a lot of this transaction was made because of the platfrom noise.cash. But nevertheless of how big or small it is - "a transaction is still a transaction".

And you can look at this, the even big amounts of transactions still have lower fee.

Microtipping also proves that Bitcoin cash is for everyone. Poor or rich, true world use case matters.

Bitcoin cash is not secured as Bitcoin is

Name an event where the bitcoin cash network has been hacked. I doubt there is.

Thoughts

A sound money for everyone around the globe should always be fast to transact and do not rob you thru transactions fee. A coin with a true world use case will always come on top in the end.

Mr. Nakamoto will surely give us back a big smile when Bitcoin Cash completes what a Bitcoin should be.

So let us keep supporting each other and promote Bitcoin cash as a digital money for the world.

Ps: Thanks @MarcDeMesel for the generous tip you gave to my last article.

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Written by   19
1 year ago
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Comments

your image reinforces your opinion in this article

$ 0.00
1 year ago

Well it does. I hope that those are blind by the price will see which is the real bitcoin

$ 0.00
1 year ago

Do you think BCH is struggling because it is competing with Bitcoin?

$ 0.00
1 year ago

The truth is, its not competing to Bitcoin. It was just claiming what is right.

$ 0.00
1 year ago

Okay

$ 0.00
1 year ago