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RE: BTC sliding almost $1000 from its highs over the last 24 hours

in #bitcoin7 years ago

Consider the fundamentals of what is happening with the protocol, not just the price. Bitcoin transactions have high fees and get stuck often because the network as it presently exists is at full capacity. This is not a new problem. It could have been fixed already, as many of the more competent devs have been saying for years, but they have been shouted down, bullied, and censored on the /r/bitcoin reddit by the corrupt team that co-opted bitcoin core after Satoshi disappeared.

Bitcoin Cash is not the threat, it is the solution. The Bitcoin Cash fork was only created after it became evident that logic would not persuade those who have secretly made it their mission in life to keep bitcoin crippled. Some who thought compromise was the answer proposed Segwit2x, but it became evident that the other side had no intention of bargaining in good faith.

So now the smart money is leaving core and Blockstream with their crippled coin, while those who care about a functionally useful Bitcoin are moving on to Bitcoin Cash. In terms of merchant adoption, things are just getting started back up again, after many merchants were forced to abandon Legacy Bitcoin because these issues.

Invest how you like, but don't say you weren't warned.... This has been a long time coming.

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Very good points. I hold both currently.