No more BTC for Me

BTC is the superior asset, but is no longer accessible to the small investor.

The future will show how long BTC will be a superior asset. BTC is like a share. The prices of the shares can rise quickly but also go to zero very quickly. BTC cannot achieve global usage because it is technically impossible. BCH can. When BCH achieves wide distribution, the value of BCH will rise and will no longer fall.

BTC doesn't need to achieve global usage (mass adoption) as it is not a currency. It is only technically impossible today. But I think this is irrelevant. What difference to BTC value does it make if 1 billion people buy $1 of BTC or Grayscale buys $1 billion of BTC. There still has been $1 billion BTC purchased with fait.

BTC is still accessible to the small investor, but that will depend on where you live and what facilities you have access to. And also your definition of small investor.

$1 invested gets you 0.00002857 BTC or 0.002066 BCH. You may have more BCH than BTC but you still only have $1 of each. With spec investing it is the potential upside that matters, not how many shares you have.

I use an exchange where I can deposit $1 and buy $1 of BTC and pay 1% commission. I save it up until I have enough to withdraw to make the fees minimal. That is converting fait to crypto.

Another option is sending all the dust, faucet payouts, airdrops, read.cash, publish0x tips to Binance and trading to BTC. When you have enough you can withdraw. Once again minimal fees. Thats crypto to crypto.

Since Dec 2017 BTC has gone up 43%. BCH is down 90%. Or put it another way BCH/BTC was 0.19723386 in Dec 2017. Today the BCH/BTC exchange rate is 0.01350258. (For investing purposes the latter is more important, comparing crypto to crypto.)

I understand why people like BCH, but you have to detach your emotions when you make investment decisions.

LTC Dash ZEC ZEN and the host of non omni protocol currencies are where BCH should be focusing. Not harping on about the past. And who has the biggest dick. To an outsider the BCH narrative is not very appealing.

In the future I will happily use BCH if it is the best option. But I will not use it as a store of value.

Since Dec 2017 BTC has gone up 43%. BCH is down 90%.

That says nothing at all. You cannot project from the past into the future. If it were that easy, everyone would be rich 😄. Moreover, the "markets" are very speculative. The price does not reflect the technical utility of any of the coins. In a few weeks, the prices can be completely different. The prices are a current snapshot.

But I will not use BCH as a store of value.

No one is asking you to. The goal of Bitcoin is a global electronic p2p cash and not a store of value (an asset). Bitcoin was not developed for the billionaires to enrich themselves.

I'm just warning you that BTC is a very bad version of SOV. All those who believe in the BTC-SOV fairy tale will one day be caught up in reality. The billionaires will quickly move their money elsewhere and you are left with a worthless BTC token.

There are much better stocks than BTC to invest money in. There are real companies with future potential behind them. These companies will produce products and services in the future. BTC is just hot air that was burnt for mining the coins. The price is purely speculative and can quickly vanish into thin air.

Only the coins that find worldwide distribution and real usage will prevail. In my opinion, it cannot be BTC in the long term. BTC will burst like the tulip pale at some point (but I hope it doesn't happen very soon because then all the cryptos would fall into the ground).

And why do you think MarcDeMesel invests in BCH instead of BTC?

Had to look up who MarcDeMesel is. Said he is into BCH since 2012. Thats great he is a believer in the Satoshi Vision. I get that. I realise original goal was global p2p. And it's a shame it has morphed into another toy for the mega rich. But that is what it is.

Is not BCH also produced from mining coins? So does that mean it is also just hot air. Just kidding.

When you say stocks are you referring to stocks or crypto?

BTC has burst like a tulip a few times already. When the mega rich decide that BCH is a better bet. that will be time to switch alliance. If they decide to get out of crypto, then all bets are off.

Most crypto are speculative at this stage. i.e. most useage is by day traders, whales etc.

Said he is into BCH since 2012.

No. He is since 2012 in Bitcoin. BCH is founded 2017.

Most crypto are speculative at this stage. i.e. most useage is by day traders, whales etc.

That is absolutely right. All cryptos, including Bitcoin Cash, are pure speculation at the moment. Almost everyone is using it to get rich. They are like ponzi schemes, which is why most will fail miserably. If Bitcoin Cash fails mass adoption, it will fail along with BTC.

I thought that was what he might have been alluding to I think Gavin Andresen alluded to a similar thing when he said the BCH was what he was working on when he was on the BTC core team.

I realise that BCH was product of the July 2017 fork. Thats how we got our 1st piece of BCH. In fact we owe BCH our gratitude, the idea of getting some free BCH was what prompted us to buy our 1st piece of BTC.

You would need to define what fails means. As a currency yes BTC has failed so far, but as a blockchain it has been very successful, in that it still exists and does what it is meant to do. BCH may fail mass adoption (i.e. adoption by the masses) but it still may succeed as a blockchain if the asset value increases and the rich decide to divert into BCH. It is very hard to be a currency and an asset at the same time. Gold is sometimes a currency and other times is a commodity. But is never really both at the same time.

The next 10 years going to very interesting. A lot of hearts and souls going to be broken along the way

Thanks for letting your voice heard here always with your powerful insights, happy new year.

Happy new year to you too.

Thanks🙏

Thanks for passing by 🙏 you always put some input in here and give us with some helpful knowledge 👌 Happy New year and have health to see the good things in life.

Merry Christmas to you and your family. And a great 2021.

Thanks Bragato 🙏

thanks for this informative tidbit 😀

so when a wallet has a lot of micro transactions and you put it into cold storage the fees become big? 😅

sorry for asking as i'm a beginner.

the problem of counting each transaction, only applies to omni protocols such as bch, btc, dash, zec, zen, ltc etc. Micro transactions like mining, faucets that pay instantly etc. If you send them to an exchange, all the micro transactions get pooled in one wallet, so when you withdraw you only pay the one excessive exchange fee. Exchange fees used to be approx 10x the actual miners fee but since they don't adjust the fee regularly. As the mining fees have increased on BTC and ETH, it is only about 2x more expensive than actual mining fee. Sometimes it is even cheaper. Especially the ERC2O tokens. The issue is the same regardless of where you send. Only mentioned the cold storage as a point of reference. i.e why I need to send at some point. Suppose I will have to bite the bullet and pay the fee. Just hope the mining fees will drop back in the next few days but I will still have to pay around $80-100.

Extremely late reply, 😅

But really, thanks for the detailed explanation, helped me out. 👍

Was in process of writing blog about the above, but got side tracked. Once finished will post on Publish0x and read.cash. Only 1 in 2 posts get past Rusty the Bot, so it may end up being unpublished

Correction: Sorry but I think they are not called omni protocols after all but have another name

It became something that isn't anymore afforded by the majority am definitely out more focus in #BCH have a nice Sunday mate👌