Folks, in the past I urged those of you who have been reluctant to enter the crypto currency system because of the high price of Bitcoin as Bitcoin was 3,00USD- 7,000USD. But now after having investigated deeper, I strongly recommend you focus on Bitcoin Cash ticker BCH or BCHABC. Why?
I recently have made some transactions in Bitcoin, and I found that the transaction fee is still high while transaction speed is also still slow. As I have pointed out sometimes ago that Bitcoin system has been deliberately changed in such a way that gives power to those powerful server miners. These miners/developers do not want to follow the goal that was set out by Satoshi’s White Paper. That is to implement Bitcoin as peer to peer Cash payment system. Instead, these “powerful miners” have deliberately slowed down the Bitcoin by imposing high transaction fee and restricting the quantity of transaction per second with fixed small block scale. That’s why you would see the number of “unconfirmed transaction” in the real-time Blockchain process (https://www.blockchain.com/explorer?currency=BTC&stat=unconfirmed).
I have personally smelled something not right! Because these deliberate restrictions will absolutely deter people from using Bitcoin as Cash (medium of exchange) in daily business micro transaction! And I have noticed that Bitcoin somehow has been deliberately suppressed around 10,000USD. That means Bitcoin will not be the “people crypto cash” of the world as it was set out to be!
What about the Bitcoin Cash?
Bitcoin Cash is real Bitcoin in both technical structure and its original mission. That’s is truly decentralized and evolving to be the true people/public crypto-cash of the world.
Bitcoin Cash is the Bitcoin with low fee, more transaction per second, and faster. This allows more people to use it as daily micro transactions (very small amount transactions) just like cash on hand.
As of this writing Bitcoin Cash is 303 USD. If you really can see something in the near future, buy some Bitcoin cash and start using it. Or even if you just want to invest, just buy some Bitcoin Cash now for BCH will be over 1,000USB benchmark in a few years, and will catch up with Bitcoin in fiat paper price!
Remember, Bitcoin Cash is the original Bitcoin. It’s called Bitcoin Cash because It was forked out with larger block scale in order to facilitate more transactions per second and lower transaction fee.
Anyway, as I said cryto-currency as a whole will not become Cash system as long as the transaction confirmation power is still on the hands of miners. Crypto cash only becomes feasible only and only if the transaction confirmation process becomes integral part of the mathematical algorithm of the blockchain itself. That is the transaction confirmation process must be mathematically automatic by an algorithm within the blockchain. This will free the “coin” from any corruptible human input/power and become truly incorruptible cash payment system of the world.
How much time will it take and how much fee will be charged for buying an ice-cream? If a crypto-money cannot be used to buy an ice-cream without paying transaction fee and delay then it is not cash at all! The majority of ordinary low income people around the world will not bother to use such hassling medium of exchange.
Crypto cash still has a long long way to climb up!