Bitcoin Segwit Greater Fools Gold vs Bitcoin Cash Replacing Global Currency

Many people have been ignorant about Bitcoin Cash due to the false propaganda by the Blockstream/Core people. To avoid all those misinformation, let us break down the information and then you may decide for yourself, which is going to be the superior Bitcoin.

Posted By: Contributor    03/11/2017    7925 Total Views

Many people have been ignorant about Bitcoin Cash due to the false propaganda by the Blockstream/Core people. To avoid all those misinformation, let us break down the information and then you may decide for yourself, which is going to be the superior Bitcoin.

When you think about it, Bitcoin Segwit has major flaws. It cannot scale to cope up with demands so users were forced to pay high fees. Would you choose to pay higher fees when you can choose to pay lower fees? Bitcoin Cash has extremely low fees, think pennies! Bitcoin Cash upgraded blocksize means that even when scaled up to billions of users, the fees can still be as low as pennies.

The other big problem with Bitcoin Segwit is that it seems overvalued. It is overvalued and has became the greater fool’s gold. Bitcoin Segwit has almost no real world usage when you consider the perspective globally and merchants are shifting towards Bitcoin Cash. And it’s not just merchants, but wallets, exchanges, people like us, new businesses, and even a government is considering adopting Bitcoin Cash as their de facto currency. Such volume only makes sense with Bitcoin Cash as it can scale beyond Visa and Mastercard’s transactions volume.

So back to the greater fool’s gold, the only thing propping up Bitcoin Segwit’s price is the feeling that there will always be a greater fool going to buy at a higher price. Bitcoin Segwit has no utility anymore as the high fees and slow confirmation times decimated its value completely. Would a business wait for 6 hours and pay $6 to accept payment for your coffee? Would you? So if Bitcoin Segwit has no value, then what is propping up its price? The greater fool.

When people say Bitcoin Segwit can be a store of value just like gold, that statement makes little sense at all. Gold has real world usage in smartphone and other applications but not Bitcoin Segwit which is just data. When the gold needs more gold to build more smartphones, the price of gold will go up and manufacturers will be forced to buy that gold from you. Bitcoin Segwit has no real world usage so when there is no greater fools left in the game, what do you think will happen to its price?

Bitcoin Cash has real world applications because of its merits and upgraded blocksize. For the first time, you can send $10 to your kids who need lunch money and the transaction is immediate. It makes sense when you’re paying pennies to send that money. For businesses, they no longer need to pay Visa/Mastercard 3% cut of each transactions. Bitcoin Cash transaction fees are pennies and instant due to its 0-conf. It is only a matter of time before more and more merchants educate themselves on Bitcoin Cash and starts accepting such payments.

And I also believe as people becomes informed of the merits of Bitcoin Cash and starts adopting Bitcoin Cash, it may well just become the global currency.

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