Been following Bitcoin Cash since 2017, it's easy to see how the main Bitcoin was compromised with insane transaction fees making it unusable for everyday purchases. During the bubbles for months at a time, transaction fees can be $20+.
It's the perfect way to cripple Bitcoin, exactly what banks and credit card companies would want, and coincidentally, MasterCard funds Digital Currency Group, which funds BlockStream, the main Bitcoin developer team.
Roger said something very interesting in an interview, if something is a good store of value but not convenient for transactions (like gold) it will fail as a currency. Gold was good, but paper money was much more convenient, easy to transact, useful for overseas payments via checks etc. so people stopped using gold and switched to paper reciepts and the government rugpulled them. Bitcoin will fail if it is not useful for spending, who's gonna pay a $20 fee to buy groceries when you can keep using government fiat.
Bitcoin is decentralized and did exactly what it's supposed to do in the event it is compromised, it forked into Bitcoin Cash, back to becoming a currency usuable for everyday purchases AND a store of value with a finite supply.
I've been Bitcoin cash since the split. Waiting for more people to do some reading and critical thinking and come to the same conclusion. Bitcoin was clearly highjacked by TPTB
Been following Bitcoin Cash since 2017, it's easy to see how the main Bitcoin was compromised with insane transaction fees making it unusable for everyday purchases. During the bubbles for months at a time, transaction fees can be $20+.
It's the perfect way to cripple Bitcoin, exactly what banks and credit card companies would want, and coincidentally, MasterCard funds Digital Currency Group, which funds BlockStream, the main Bitcoin developer team.
Roger said something very interesting in an interview, if something is a good store of value but not convenient for transactions (like gold) it will fail as a currency. Gold was good, but paper money was much more convenient, easy to transact, useful for overseas payments via checks etc. so people stopped using gold and switched to paper reciepts and the government rugpulled them. Bitcoin will fail if it is not useful for spending, who's gonna pay a $20 fee to buy groceries when you can keep using government fiat.
If you look at the history of Bitcoin dominating the market share of all cryptos you'll see it's market share started dropping at the exact same time its transaction fees started increasing from pennies to dollars as people sold off and switched to more usuable cryptos that are supposed to be able to function as p2p cash and compete with fiat.
Bitcoin is decentralized and did exactly what it's supposed to do in the event it is compromised, it forked into Bitcoin Cash, back to becoming a currency usuable for everyday purchases AND a store of value with a finite supply.
I've been Bitcoin cash since the split. Waiting for more people to do some reading and critical thinking and come to the same conclusion. Bitcoin was clearly highjacked by TPTB