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RE: POV: BTC vs BCH, wild market
Let's say you want to go to a store and buy a pair of Nike tennis for 60€. You have two methods of payment:
- Bitcoin, which brings your total up to €150
- Bitcoin Cash, which brings your total up to €60,17
What do you do?
Why do you only have two methods? Apps on ether blockchain can provide interoperability. Even Dash at the moment as point of sale in certain stores. When I purchased my antminers from Bitmain I had to exchange it all in Bitcoin cash. More big internet transactions will be done on Bitcoin cash in the future. It sure was an interesting weekend that is for sure.
Because that's what this post is about: BTC v BCH.
I don't see any future for BTC as a means of payment. Right now it's seen as Digital Gold... and it's as simple and quick to buy anything with Bitcoin than to pay in any store with gold.
And I'm not talking just about the high fees.
Can you picture yourself paying at a restaurant with Bitcoin... ?
After you're done eating, you'll be waiting between 30 mins and 3 days for the server to come back and say "Ok, sir, your transaction is confirmed, here's your receipt: 30$ for the food, 6$ for tips, 70$ for Bitcoin fees."
You'd be setting up a tent in any store you'd make a purchase on... and that's a waste of time. And as Uncle Scrooge says: "Time is Money."
I'm not discussing which token will be worth more... but as a means of payment, Bitcoin Cash delivers, Bitcoin doesn't.
Still, I'd rather use something like Ethereum or Litecoin, so I would have the surprise of paying 30% extra ... or 30% less. That's too maddening. A coin price has to be somewhat stable.
The extremely quick and wild variations make sure Bitcoin will never be what Satoshi attempted to create: a digital currency. Yes, it's digital. But a currency? Not even in the wildest dreams.