BTC vs BCH
Hi all!
Since the BTC vs BCH topics are real hot lately, we've all been thinking.. right? Since we've seen BCH rise, with the 24 volume surpassing that of BTC. I was thinking, wow is this going to overtake BTC? After some digging we noticed that almost 60% of the volume seemed to be coming from Korean currency.. makes sense since it was Korean markets/miners that were all pro fork.
But what are we supposed to do, jump on the train? Or miss the 2nd (if you missed the early BTC train) also?
For me i'm still thinking it's kinda financial suicide to invest in BCH now, since it's up so much.. WDYT?
You can't really ignore the 8MB blocks from BCH, that can hold (what i've been told) around 37.000 transactions.. that's huge right?
Since BTC is holding all (or alot) of the value and BCH has the speed you'll need for real world transactions. Could it be that we'll see BTC as becomming like 'a savings account' and BCH as our active account which we use for day to day payments?
I'm not an expert here, i'm just thinking about what the future will hold. I (as perhaps many others) have looked at BCH as some weird alt coin, which will be doomed to fail. But will it? If you see the rally from last weekend.. or was it just a pump from a few Korean whales?
Let me hear your thoughts about the matter!
The one benefit that forking off from Bitcoin provides is that the network is already extremely widely distributed so all of those Bitcoin users would also receive your coin. Having the widest distribution possible provides a nice market for your coin. Other than the history and name similarity I don't believe that Bitcoin Cash will become a great alternative to the choices that are already out there.
They claim low fees, well look at Litecoin where I can send money for about 1-2 pennies at most. They can reduce transaction wait times through allowing MORE transactions into each block but the 8MB size will create a cost barrier in the future for people wanting to run full nodes. Also how long until that 8MB size is inadequate to handle the volumes of transactions flooding the network? A simple increase of block size may not be enough to set BCH apart from much faster and cheaper alternatives. Fee-less cryptos will be very popular once mass adoption takes place.
The majority of the blocks are also being mined by unknown miners and the one who is mining the most is just stockpiling his BCH- strange but true.