Posts about Bitcoin Cash
BitcoinCash22 - the Future of Electronic Cash. To be held in St Kitts Nov 12-13 . Experience a 100 % merchant adoption , No Fiat - No Credit Card - No Problem - We accept BitcoinCash. Come Meet & Greet Political Heads,Founders,Entrepreneurs,Merchants,Developers,The Onboarding Teams & More
Seychelles now accepts BitcoinCash .. what odds one need the most .. a grocery store that also sells liquor 😀 now accepts BCH ..
"SOMEONE should post a pro BCH thread so others can see the other side of the story" -me before making this post.
First, the most important distinction to understand is PRICE vs VALUE.
Price is the amount paid for acquiring any product or service.
Value is the utility of a good or service for a customer.
We as Bitcoin Cash supporters know the value of BCH, non supporters only know the price of BCH. Accumulating when price < value is ideal. When price = value you can still accumulate, but the largest portion of gains come from accumulating when price < value. When price > value take profits.
It is my belief BCH is significantly in the price < value category. Here are some reasons why.
Developer happiness: For the first few years after the BTC/BCH split there were very public disagreements between developers and stakeholders resulting in 2 internal splits. Compared to back then, developer happiness is much higher today. I've heard a few devs mention this. There are public discussions happening in various places (https://bitcoincashresearch.org/, twitter live chats, youtube network discussions, telegram cashtokens) and the tone is productive, actual collaboration is happening. Compared to Amaury rage quitting a live video discussion and Craig Wright's "you split, we bankrupt you", the atmosphere today is basically the opposite of the past. BCH supporters understand the heartaches BCH has been through and how it is different today, but no way the haters on social media know this. Has the increase in BCH's value from developer happiness been priced in yet?
Actual improvements to layer 1 are happening: For the first few years after the BTC/BCH split, hardfork upgrades were about fixing issues rather than improving BCH. BCH spent years fixing the difficulty algorithm to get block issuance to reliably be 1 block per 10 min on average. Remember when huge amounts of hash switched between BCH and BTC and BCH was finding a block every minute? A new address format to help with coins sent to the wrong address? Unrecoverable segwit address fix? Replay protection? These changes were needed but they were fixes, not improvements. Compare those past fixes to recent and upcoming improvements to BCH like: Removing the unconfirmed transaction limit, 64 bit math vs BTC's 32 bit math, native introspection, double spend proofs, native tokens, joint-execution decentralized exchange. These are actual improvements to BCH's value that only people who don't ignore BCH updates know about. Have these been priced in yet?
Bitcoin Cash actually works as marketed: Bitcoin Cash is peer to peer electronic cash for the world. It promises to be basically free, basically instant, reliable, and uncensorable AND IT ACTUALLY IS. Even through all BCH's troubles it still works as intended. We all know about BTC's fee problems but the majority of other coins have also promised basically free/cheap transactions and have been unable to deliver. I won't get into it here, but this scalability issue has a lot to do with BCH being a UTXO model rather than an account model (like ETH). When's the last time you heard someone talk about scaling issues between UTXO and account models? They only talk about scaling account models without knowing UTXO scales much better. The problem here for BCH is that adoption has been low and transactions per day has been falling so the scalability of BCH is currently hidden, for now.
Bitcoin Cash is still seen as a different class of cryptocurrency by regulators. Recently Canadian crypto exchanges imposed a 30k CAD annual limit for cryptocurrencies. These new rules do not apply to BTC, ETH, BCH, LTC. source. Companies too paypal?.
Coinflex. The Coinflex drama caught me off guard, totally didn't see it coming. Putting the drama around Coinflex aside if we are to believe the current information provided then a massive amount of BCH were sold that were intended to be 'long', increasing sell side liquidity temporarily. In addition there is a lot of FUD around the situation as many BCH supporters lost a lot. Yes the Coinflex situation is bad but the situation is mostly reflected in the price of BCH, not the value of BCH. SmartBCH still exists and a reasonable person should see it has potential. BCH isn't betting everything on SmartBCH and BCH is decentralized so they can build on BCH if they want.
St. Maarten cryptocurrency legal tender regulation. While this regulation is for all cryptocurrencies, BCH supporters know St. Maarten is a hotspot for BCH adoption. The St. Maarten parliament member (MP Brison) pushing the regulation joined a few BCH live discussions and gave various examples of why he supports BCH. He really gets it. He even mentioned his intention to give BCH supporters a first look during the November BCH conference in St. Maarten. He starts talking 28 min in.