BCH is best described as the Orthodox Church to BTC's Roman Catholic Church.
BTC kept the name and received more followers, but has changed its fundamentals and has been captured by less altruistic global players. BCH has kept the tenants and mission of Bitcoin by having scalable block sizes to provide rapid, low cost transactions so it can actually work as a currency and not just a store of value.
BTC exploded because of institutional investors. However, if the world keeps going to hell and people start actually needed a decentralized crypto currency, then BCH will explode and BTC will crash.
i like decentralized crypto. Your title is fantasy though. If you're looking for somewhere to place your populist hopes right now, i believe it's probably the Quantum Financial System.
Never heard of QFS. I'll look into it.
Its not necessarily populist hopes. It's more along the lines of if US Dollar starts its insane level of inflation and the global markets go nuts, what can we use as a medium of exchange until a new global order is established. BTC cannot support actual use as a common medium of exchange, while BCH can.
Not going to happen. Did we not just see what happened to the elections, Parker and Wallstreetbets?
Once the establishment is threaten by this currency it will get shut down. What backs Bitcoin? Nothing.
What backs dollars? Aircraft carriers.
Crypto without a government backing is ripe for persecution. When everyone asks about crypto’s worth how it is represented? Dollars. You can make money with Crypto but that’s about it unless you want to buy something that isn’t on a regular market.
There are Bitcoin millionaires in dollars. No one gives a shit if you have Bitcoin when you want to buy a house. The reason it is worth anything is because there are already too many dollars out there and people are dumping real money into it because why not?
I hold my crypto as long as some else will buy it, in dollars.
It is the Dutch Tulip all over again. It’s incredible the US government allows currency to be minted and traded.
I could be wrong but I don’t see it lasting. Without a power supply it’s worthless. A physical paper Bitcoin dollar? We’ll see but I don’t see it happening.
If / when the current us dollar collapses that doesn't mean the world stops. There have been a ton of times where hyperinflation hits and people scramble to try to figure out how to trade goods. That doesn't mean that the electricity will stop working either.
With Elon's starlink internet will be accessible globally. Even the poorest people in the world now have smart phones. Frankly, I'm surprised we're not seeing more people not using crypto in the 3rd world yet. Maybe they are, who knows.
I guess it just doesn’t make sense to me and I don’t see the dollar collapsing. It is the world currency and if we fail most of the world fails with us. Learned that in 2008 when talking to bankers in other countries.
I’m all for decentralization but it’s going to be the ones with the biggest CPU and know how to create these currencies out of thin air. See Facebook, Reddit, Twitter on how that turned out.
A worldwide network of nodes, currently 12 000 of them. You can flex the aircraft carriers and troops how much you want, fact is, if US military where to march into a foreign country and start harass the people of that country while searching for nodes in their homes, there will be resistance.
Nope, dollar has gone digital too. It's centralized, only available on a few central servers with backup on tape in the same room as the server. Whopsie, someone just crashed an airplane into the central bank, bam all USD is gone.
Except for the cash but how long you think cash will have value, when it's only a question about time before people figure out how to counterfeit them, thereby creating hyperinflation. There are people who know how to create cash, would be a shame if they god kidnapped, drugged and tortured until they shared that information right?
It's called paper wallets, tho they only have value as long as there is a digital way to verify it, because crypto is trust less, that means instead of me beating you up if you don't accept the value I say the paper not has (like a baboon) you verify the value yourself to decide if you can trust me once.
It's not impossible to accomplish. All it takes is a backup of the chain. Now there's already nodes allover the world, so a power outage would have to be worldwide and permanent in order to destroy the ability to verify paper wallets.
But it doesn't end there, because there's satellites in space holding the chain too, which you can connect to, those are powered by solar energy. So beside a global permanent power outage, you also need a alien attack who destroys the satellites.
Additional safety for the future: place some nodes on the moon, and on mars, the mars nodes would only sync every 3:rd year when earth and mars are close to each other, but still, that's a pretty good backup.
Regardless whether a currency is digital or it can have government backing. If an exchange just shut down and steals your bitcoins what resistance do you have. It’s not foreign force you have e to worry about it is your own government that will come and kick your door. Well except for Kaddaffi, ask him how the African dinar turned out.
I’m all for crypto but I wouldn’t underestimate the lengths of powerful interests will go too to stay in power. They can shut down your website, stuff digital ballot (maybe blockchain ballots?), or smear you in the media for buying GME.