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Title: Did Bitcoin cash really fix anything ? Post by: LtMotioN on January 09, 2018, 08:23:18 AM Hi Forum
As we are all getting flooded with the politics around Bitcoin and BCASH. I think it is important to take a look back at what is aimed in the whitepaper. (yes i have read it but dont know it by heart so please no bible bashing here ) :) The whitepaper captioned it as a "peer to peer cash system" I say anything that costs full dollars for a transaction is not a cash system. The way I see it is BCASH claims to have brought back the old BTC that works as currency, giving us those quick and cheap transactions we all know and love. When we take an objective look at https://bitinfocharts.com/bitcoin/ and https://bitinfocharts.com/bitcoin%20cash/ we will see at the time of writing this BCASH has a transaction fee of 0.825 USD and Bitcoin has a fee of 31 USD. We pay our fee in crypto, so if we are going to compare the fees we should valuate BCASH up to bitcoins price ( which is approx x6) This then brings the average fee of BCASH to 4.95 USD. Given a choice between the two I would of course opt for the cheaper one(litecoin), but in the grand scheme of things I think that 4.95 is still absurdly expensive. We should be paying 0.0001 USD per transaction for it to be viable for every day spending and be better than what the banks give us. Outside of layer 2 scaling, is there really any way for BCASH to become "the real bitcoin" ? I think not, they just gave it a bandage to temp fix it. Given some time BCASH will run up to 20 USD + fees as well. Therefore why do we even have it and what is the point of it ? |