By the way, a antique car is not a broken car. It usually drives and looks good. It's fun to look at. BTC drives badly and looks like nothing at all, so the comparison is not apt.
You wrote
"One has to convert BTC to BCH to"
That is replacing not carrying. But why people trade in a better car for a broken one again remains their secret.
It will take a while for people to turn away from BTC. But that is a good thing. If it happens too quickly, everything including BCH will be damaged.
The conceivable scenario would be. BTC price goes up for a while, other coins go up faster, build their ecosystem. BTC dominance in the CMC continues to fall. BTC is replaced in the CMC by another coin and then falls further and further back. BCH is getting stronger and stronger. BTC miners are switching more and more to BCH. The profit prospects on BCH become much higher than on BTC. BCH rises much faster, BTC rises slower or even falls. Flipping occurs. BTC collapses.
My theory is that ETH will flip BTC first. At this point, BTC maximalists and speculator/investor types will freak out and BTC's fall will begin. At the same time ETH fees will be high and network will be congested. If Smart Bitcoin Cash is ready at this point and if market chooses to use BCH for the currency and SmartBCH for smart contracts then BCH will reach the top spot and stay there for a long time.
That was just one of the many ways. One is safe. BTC dominance has been falling for a long time and will continue to fall. BCH will replace BTC. It's just a question of when.
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Really? How?
One has to convert BTC to BCH to spend it. If there no BCH, BTC can be spent only as fiat.
lol, that's like making an old useless car useful again by replacing it with a new one.
it is like carrying a costly antique car in a working truck. BCH works for travel and BTC doesn't.
By the way, a antique car is not a broken car. It usually drives and looks good. It's fun to look at. BTC drives badly and looks like nothing at all, so the comparison is not apt.
Got it. I meant very old and broken car.
You wrote "One has to convert BTC to BCH to" That is replacing not carrying. But why people trade in a better car for a broken one again remains their secret.
What if there is more money to be made flipping broken cars.
It is illogical, but at the moment, unfortunately, more gelt is earned with broken cars. But that will change.
Hoping it'll change soon.
It will take a while for people to turn away from BTC. But that is a good thing. If it happens too quickly, everything including BCH will be damaged. The conceivable scenario would be. BTC price goes up for a while, other coins go up faster, build their ecosystem. BTC dominance in the CMC continues to fall. BTC is replaced in the CMC by another coin and then falls further and further back. BCH is getting stronger and stronger. BTC miners are switching more and more to BCH. The profit prospects on BCH become much higher than on BTC. BCH rises much faster, BTC rises slower or even falls. Flipping occurs. BTC collapses.
My theory is that ETH will flip BTC first. At this point, BTC maximalists and speculator/investor types will freak out and BTC's fall will begin. At the same time ETH fees will be high and network will be congested. If Smart Bitcoin Cash is ready at this point and if market chooses to use BCH for the currency and SmartBCH for smart contracts then BCH will reach the top spot and stay there for a long time.
Etherum devs are working hard to lower the fees, you can't underestimate ETH like that.
Yes but it is still work in progress. If SmartBCH launches before ETH fees becomes low, then it is game on.
Reduction of fees is planned for July, but miners are balking. It can end in chaos. https://www.coindesk.com/ethereum-improvement-proposal-1559-london-hard-fork
Yes it is a huge change in a short period of time and that too in the middle of a bull run. So many factors at play.
I agree. Few of these may play out differently but we agree on the ending.
That was just one of the many ways. One is safe. BTC dominance has been falling for a long time and will continue to fall. BCH will replace BTC. It's just a question of when.