Spoiler: It is the perfect bitcoin hedge.
My thesis around bitcoin has focused on two hypothesis:
1 — There will be significant future demand for a digital and borderless store of value.
2 — No coins come close to competing with Bitcoin as digital gold and it’s unlikely that any will in the future.
Well folks, now we have a competitor.
Although the competitor doesn’t currently compete all that well on the vectors that seemingly matter:
- Hashing Power
- Length of Chain
- Community Support
- Business Support
- Strength of Core Devs
But things change. It’s very early for them; could BitoinCash (BCH) get their act together? What’s the likelihood of that? Who knows.
One thing has definitely changed: hypothesis #2 proved to be false.
Now there is a competitor — they might not be pretty and they could certainly be overvalued at .17% of BTC (at the time of this writing); but they are a competitor nonetheless.
What to do?
I still believe hypothesis #1 to be true—
Nice post with an interesting perspective. Resteemed and Following you :)
Add the CoinFund tag next time!
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STOPGood thoughts