Emil Oldenburg, co-founder of Bitcoin.com, has sold his bitcoin and switched to Bitcoin Cash since he is distrustful about its future, as indicated by Breakit, a Swedish website.
Oldenburg said bitcoin is currently the riskiest investment someone can make.
He said bitcoin’s transaction times, fees, and lead times have undermined bitcoin’s value as an investment.
Bitcoin transaction fees have multiplied at regular intervals, and it now takes around 4.5 hours to affirm a transaction. Charges went up to $26 per exchange as of late, according to Ars Technica.
Bitcoin.com has millions of unique visitors each month, as per Similarweb.
Oldenburg said Bitcoin.com’s revenue numbers are expansive, however, he didn’t want to uncover subtle elements. His own particular salary and those of 60 associates in Tokyo have been in bitcoin.
At Stake Liquidity:
Bitcoin’s liquidity is at stake, he said.
Individuals have not perceived bitcoin’s inherent risks since most have just bought it and have not attempted to sell it or make trades with it. When they understand the risks, they will begin selling it.
The bitcoin organize is unusable, he said. The issues happen when exchanges are recorded on the blockchain. There is a predetermined number of exchanges a man can make for each second that depends on the block size that stores the exchanges. This restriction has made bitcoin an illiquid and unusable digital currency.
While these issues could be addressed, Oldenburg does not figure they will be because the system is controlled by what he calls “fanatical bitcoin Talibans.”
The authorities running the bitcoin network see bitcoin as computerized gold and a specialized experiment instead of something individuals use.
Bitcoin.com has quit creating services for bitcoin to concentrate on Bitcoin Cash, which split from bitcoin in August and has turned into the second biggest digital currency.
For whatever period of time that the bitcoin network is controlled by the current directors, bitcoin won’t be a money for regular use. Rather, Oldenburg sees the future in Bitcoin Cash.
Bitcoin Cash Has The Support Of Others:
Craig Wright, an Australian businessperson who once claimed to be Satoshi Nakamoto, recently tweeted that 2018 will be the year in which Bitcoin Cash reaches to its full potential, as its limitations will be evacuated and its security will be improved.
Wright called attention to that among what’s coming for the digital currency in 2018 are “secure limit frameworks to make even web wallets secure,” enhanced mixers, and transactions with improved privacy. When asked who’s dealing with these upgrades, and when a public roadmap would be available, Wright answered, “A few. More open soon.”
Roger Ver and Calvin Ayre, two bitcoin cash proponents, have also announced to use their influence to rebrand bitcoin cash as bitcoin.
So, the year 2018 seems to be full of interesting prospects for bitcoin cash. But, will all these predictions regarding BCH come true. We will have to wait and see.
Story credits: ccn.com
Image: Google images