Michael Saylor knows about Bitcoin Cash, and he knows BCH works like cash.

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2 years ago

"Now you wanna buy a pizza or coffee? Would I use Bitcoin Cash? No, I would use Apple Pay... Am I going to use a crypto network? Probably not"

He would instead use whatever fiat currency is available in the jurisdiction he happens to be at any moment in time.

So he knows Bitcoin Cash exists, and he knows that Bitcoin Cash is and works as a peer-to-peer currency, but he doesn't need it as currency because his dollars in his pocket can buy whatever he needs. He is buying Bitcoin Core. After all, he thinks he will need a store of value because he wants his money to retain its purchasing value; what a great contradiction.

He is trying to say, in my opinion, that I don't need a cryptocurrency because my fiat currency still has value, but I want to preserve that value. Hence, I need a store of value in case inflation hits my current fiat currency.

Either he doesn't understand and is clueless or secretly buys altcoins that may work as currency like Bitcoin Cash. Still, saying you don't need bitcoin to be a currency, but the only store of value or digital gold is a contradiction; it puts the carrot before the horse.

Store of value means you are saving your money for the future, but if that vehicle where you are putting your worth can't handle current market needs, what makes you think you will be able to use Bitcoin Core when you need it the most. Today you have to pay around $2 to $10 to use Bitcoin, in the case of an inflation scenario or any other need by the masses, and all of those who were putting their money on BTC as a store of value need to use their stored value what will the fees be at that point?

Let me put it this way, you buy BTC thinking is a store of value, and everyone else does the same, well at some point in the future, the black swamp event happens, and you and many others need to get their money out of BTC, what would you think the fees will be at the moment?

In Venezuela, hyperinflation is affecting everyone simultaneously, so that will mean that everyone who uses Bitcoin BTC will be competing with everyone else outside and inside that country for their transaction to be included in the next block.

You will only know it is an actual store of value when you get in a crisis because the store of value means you will use it when probably everyone else will be using it as well, as such fees will be higher than even eth in a satoshi level comparison.

If a hyperinflation scenario happens in the USA, you can bet that Bitcoin fees could reach 0.10 BTC or even more; MicroStrategy CEO has enough money to pay that fee and to exchange into whatever else has a value at that time, but everyone else will be holding the bags and probably won't be able to get out. It is not about getting out is about having your money available when you need it, nor a minute later.

He knows that Bitcoin Cash is the real peer-to-peer currency, but he thinks that for everyday purchases, he will be using his fiat currency until the end of time or that even if BTC fees go to the roof, he will still be able to afford such costs. But you, the regular worker, employee, person, need to pay attention to you, and I need a store of value that in the moment of need it can be used and it can be used fast without too many fees or higher fees.

The store of value for those who understand the concept, you need to be the currency first to become the store of value that exists in Bitcoin Cash.

Bitcoin lightning network would not help you either because you will need to pay the fees to open and reserve the costs to close your channels as well; let say you opened a channel a long time ago for 0.005 to the Wallet of Satoshi's node, but today on-chain fees are 0.003, you open node won't have any available funds because all will be put into reserve fee, meaning you will need at least 0.01 to use LN if prices are 0.003. If we have a hyperinflation world where the dollar is dying, BTC fees could exceed 0.10 BTC. At that point, Bitcoin could be very valuable, but you will need at least 0.3 to open one channel in LN.

So Bitcoin Core won't help you in a hyperinflation world, but you will need to know that you, like me, would have to see the trap that Bitcoin Core is in an inflation world. I know about routing fees, reserve fees, and on-chain fees because I have used Bitcoin Core before, and that is why I decided to hold Bitcoin Cash instead.

Before you attack me or think that I am just chilling for BCH, try to use Bitcoin Core LN, by to way Wallet of Satoshi, Phoenix, or Strike is not using the real Lightning Network; it is using custodian services nothing more, using those services is like using Coinbase, Gemini Exchange or any exchange for that matter. The only apps you will use the real LN are LND for windows or Linux and eclair mobile for android.

I will end my article by saying that if you are saving your value today, you need a store of value that is also a peer to peer currency today and that it will continue to be tomorrow; the first currency to achieve that is Bitcoin, Bitcoin Cash that is, because I will tell you the real spirit of the satoshi's white paper lives on Bitcoin Cash.

Bitcoin Cash is not only the first store of value but also a peer-to-peer currency, as described in the white paper.

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You're observation about BCH Bitcoin cash and search totally right and I really really appreciate you because no one have knowledge about it and no one can search to share perfectly word for noiser reader and BCH lover. In my opinion only BCH lover more and more BTC have more fee as campared to BCH . Last time you suggest me to convert everything BTC into BCH and now I'm satisfied little bit and BCH going to green signal

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