Why has Bitcoin Cash failed?
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I have never sold the BCH from the fork. I believe Bitcoin Cash is the best technical solution so far.
BTC Lightning was not a very good idea from the start, since it needs always-online watchtowers to prevent outdated channel closes. I find it more like RAM than a HDD, and I am skeptical it is fit for a currency database.
Without Lightning, Bitcoin can perform 7 TPS, or it takes about 9 years for a billion people to make 2 transactions. Clearly the block size is too small for worldwide adoption, and the transaction fees confirm this. $20 is a lot to someone in India spending $5/day.
On the other hand, the purpose of transaction fees (increased by transaction demand during limited supply) is to ensure security. Right now, to outspend Bitcoin miners it would cost $589k/hr - which is an absurd amount of security.
Very few people need to secure more than $589k/hr against doublespend. Of course, a doublespender like a fraudulent exchange could scam multiple people at once, so let's take a 10x margin, which would still give us $58.9k/hr.
In the mean time, Bitcoin Cash, due to its limited adoption and small fees, only costs $4.8k to double-spend. With our 10x margin, you can secure $480 by waiting 1 hour.
While BCH is is inferior right now if, say, you want to buy a $480k house (you'd have to wait 1000 hours = 41.66 days), with increased adoption it would be more secure (because a price increase would increase the block reward, and increased competition for block space would increase fees also).
Why has BCH price not grown? Not only did it fail to catch up with Bitcoin, but it actually lost 95% of value relative to USD in the since all-time high. I hoped it would come back, yet all we see in the top 50 is premined coins and pump-and-dumps.
Is it the (lack of) advertising? I see even Bitcoin.com is now shilling some VERSE token I've never heard of.
Is it the network effects? the value of a network increases with the square of its users, and as such, Bitcoin Core has a significant advantage.
Do you think BCH will come back? or at least stop falling?
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