this post was submitted on 24 Nov 2024
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What evidence would make you think BCH has failed and you might be wrong about something? Fewer than [some number] on-chain transactions per year?
As long as BCH upholds the original design of Bitcoin, which is peer to peer decentralized e-cash then it has not failed. BTC has already failed in that purpose. When will you admit this?
Still works fine on my machine, and it's gotten a lot more popular, so saying that it's failed sounds pretty outlandish at this point.
Since I'm arguing that market evidence is useful, I would admit BTC has failed once BCH/BTC >> 1 for a few months.
BTC fees shoot up every couple months and it becomes completely unusable and you just have to wait a week for it to clear out, this is a currency that has failed. The price mania is fueled by people who have never sent a bitcoin transaction, they just hit the buy button on an exchange, they do not yet realize what they are buying is a fake. Eventually reality will set in when BCH dominates the transaction volume and it becomes obvious that BTC is fool's gold.
Not really, no. I use my phone and cold storage all the time.
You were saying...?
On the Electrum client on my phone, it's $0.53 for on-chain and basically free for LN.
and sometimes it's $5, then there is a requirement to wait for confirmations which BCH does not have thus makes payments instant as Bitcoin was designed to have. The point is BTC is crippled on purpose to be unusable as a reliable payment system as not to threaten the bankers monopoly over currency.
No it's not. I've never paid $5 for a transaction in all these years because that is not how the mempool works. Here's a screenshot from literally right now with it cranked up all the way to next block.
Whoever is saying $7 above is deliberately misleading you.
0-conf was never secure; you guys just declared it so because you have no L2.
Bro. It's nearly a decade later. All time high. LN is working. Gresham's Law still exists. It sucks to get scammed but we'd love to have you back. You don't have to do this to yourself.
LN is total trash and does not work 50% of the time and will be fully centralized, which is the only way it can work 100% of the time. 0-conf is fully secure on Bitcoin Cash use it all the time with no issue.
No need to check mempool when using the real bitcoin, you just send and it works 100% of the time with minuscule fees.
The BTC narrative is falling apart as people who can still think see the chain going nowhere in innovation. Price is pumping because ignorant fools are pilling in at ATH.
I would recommend converting some of your BTC for real Bitcoin ahead of the inversion.
It's extremely improbable that I've won that many 50% coin flips in a row - you're telling me about a UX that I just haven't gotten. I check the mempool when someone tells me I've been paying $7. Have the economics behind 0-conf/"first seen" changed on your end since the split?
It's just bizarre that you keep telling me it's more expensive than what I've been paying, and less reliable than I've experienced, as opposed to theoretical concerns ahead of time. FWIW I sold all my BCH immediately after the split. I listened to all these claims before they had been demonstrated false within the first year.
If you believe in the rationality of markets at all, how many years would it take to convince you that you were wrong?
My point is LN is not being used on a wide scale. If it were to be all the problems would be glaring. You have to be online to receive payments and you need money to receive money, just these two alone are a non-starter for 99% of people. Not to mention you have to run a BTC node and an LN node to open a channel, if LN is ever used it will be fully custodial. The LN whitepaper even says the base chain would need >100MB blocks for LN to work on a wide scale. It is a dead end and a stall tactic.
BTC has been diverted from the original plan of making it a p2p e-cash into "digital gold", every decision and advancement BCH has made improves the e-cash use case. I am of the opinion that bitcoin needs to have instant ant extremely cheap transactions that is why I am in BCH.
BCH has been under constant attack for years following the split, because BTC has been favored by the banking cartel with their unlimited resources, and had to split two times again because of bad actors, about 3 years ago things have settled and the tech has rocketed ahead, it is vastly superior to BTC. It will take some time but people that are in BTC who believe Bitcoin should be like cash will switch to BCH, especially as they see no real adoption and the failure of LN become obvious.
Once transactions are instant and near free on BTC then I will admit I was wrong.