The BCH paradox

LuckyDusty
LuckyDusty

Answer me this, BCash carriers.

Why would you sell your coin on the idea that it is easier to use in purchases and transactions, and then say that its value is going to the moon?

Who is going to spend their BCH on goods if its value keeps on rising and you can get more for your money in a week, a month, a year's time?

BinaryMan
BinaryMan

@LuckyDusty
Cause I need to eat

Illusionz
Illusionz

BCH transactions take fucking forever. Try moving 1 BCH from one wallet to another, I made two transactions and paid the highest fees ($8.64 for the last transaction) and that shit is still going two hours later. It's on 5/6 confirmations.

What the fuck. Its use case was supposed to be fast and cheap transactions, I got neither.

Fried_Sushi
Fried_Sushi

@LuckyDusty
How could a currency actually being useful make it more valuable hmmmm mm

happy_sad
happy_sad

@LuckyDusty
what are you trying to argue hold fiat?

store of value comes from the confidence that something will be transactable in the future. Btc is not transactable today let alone next year

iluvmen
iluvmen

@Illusionz
When did you do the transfers? BCH is probably fucked now after the Hard Fork until it evens out

Gigastrength
Gigastrength

@Illusionz
you can choose the fee. Does anyone know anything about crypto anymore?

Snarelure
Snarelure

@happy_sad
BTC is digital gold bro...not even kidding, it's what the media is saying.

Emberburn
Emberburn

@LuckyDusty
why not both? why do corecucks meander on stupid questions

SniperGod
SniperGod

@happy_sad
I am trying to argue that anybody saying BCH can be both things is lying or fails to understand even rudimentary microeconomics and market psychology.

Face facts. A crypto as a wealth store has a USP that is attractive. With greater market sophistication, you can build service layers on top of that which operate within, but do not alter, the nature of the decentralised network.

For example, you can hold bitcoin and let it appreciate in value. You can join a payment service provider, who provides you with a credit card-type facility. That credit card-like provider will bill you at the end of each year. However. By implementing arbitrageurs and futures trades, they can sell you an average, weighted service so that you can buy a 1BTC house in January, and when you come to settle in December, you only pay the 0.7BTC that it is now worth.

One single coin cannot accomplish both. But an intelligent, developed and interconnected marketplace of services will allow it.

Anyone who sells you a coin which "will be valuable because people will actually buy with it", but will also "go to the moon in face value", is a snake oil salesman.

It's really fucking obvious.

TechHater
TechHater

@SniperGod
However. By implementing arbitrageurs and futures trades, they can sell you an average, weighted service so that you can buy a 1BTC house in January, and when you come to settle in December, you only pay the 0.7BTC that it is now worth.

Let me add: this functions, because competing services aim for the most efficient cost averaging, and the best companies will be able to lower your final, end of year bill.

So holding an appreciating coin, and joining an efficient payment service will mean you are paying less and less in outgoings as time progresses.

BinaryMan
BinaryMan

@SniperGod
So if you can spend your money, it's worthless? What the fuck is wrong with coretards

New_Cliche
New_Cliche

@Emberburn
million dollar pizza is a bigger conundrum than blocksize to people who understand crypto economics.

MPmaster
MPmaster

@LuckyDusty

Impeccable logic.

I look forward to seeing you launch all your stored value assets into the sun, ensuring you will never be able to transact with them and guaranteeing their ultimate value.

haveahappyday
haveahappyday

@BinaryMan
Nope. You are radicalised with your binary, borderline thinking.

But think this through like a rational adult with no skin in the game. Why do we have a consumer culture today? Itäs because we all know - even on a subconsious level - that we are getting somewhat of a good deal by "buying now, save later". Our fiat is shit, and much better to buy a car, house, whisky today, than pay more in three months time. The value of fiat is literally in its depreciating value. "Haha! My hamburger meal was cheap! Better buy a second, before prices go up!"

Reverse that. If everyone begins to defer purchases, the economy grinds to a halt and you have worse problems than inflation and over-consumption.

Solving the million dollar pizza conundrum is the bigger task than blocksize.

A sophisticated, interconnected market of services is the only way to address this. No single coin can achieve both.

Bidwell
Bidwell

@SniperGod

this has to be a troll

not only can it be both things it's the only way it can be, money that is not transactable cannot be a store of value.

Bitcoin remains a speculative asset because the 1mb block is stopping adoption in the real wold. real world adoption means the price is tied to the economy not speculation on exponential growth trends.

service layers on top
payment service provider
credit card-type facility
bill you at the end of each year

you have the worst comprehension of what a decentralised, blockchain, crypto currency is I have ever seen

likme
likme

@haveahappyday
problem is that you expect normie retards to understand this concept, they dont

half of them couldnt even tell you what inflation or deflation means

lostmypassword
lostmypassword

@haveahappyday
No. Nobody consumer things because of inflation, they buy because they want it. It's not buy now save later, it's buy now get now. Inflation has NOTHING to do with spending.

TreeEater
TreeEater

@lostmypassword
it does, but not for normies

Carnalpleasure
Carnalpleasure

@Bidwell
Thanks for your badly-formed personal attack. It really hurt my ego. If it also manages to reverse the underlying fundamentals of economics then my arguement will really be in jeopardy!

Burnblaze
Burnblaze

@TreeEater
No. Not for anybody. People use securities to store value if they don't want to spend, they don't just spend. Only recently when Fiat is backed by nothing, but not is spending recent.

BlogWobbles
BlogWobbles

@LuckyDusty
In that case, you should be asking BTC holders the same question since its value is rising as well.

I don't see what's different about the two in this scenario.

TechHater
TechHater

@lostmypassword
You have not lived with a deflationary currency. Even the most normie tard on the planet weill quickly learn within a few weeks that you donät buy coffee with bitcoin.

It's a lesson you need only learn once, and then your economy is changed forever.

Put it this way: if your theoy about spend spend spend was right, then either BTC HODLers don't exist, or BTC hodlers are financial geniuses.

PurpleCharger
PurpleCharger

@lostmypassword

'Inflation has NOTHING to do with spending.'

Actually, as someone who does the book keeping for a large casino and resort complex, it does. We want to spend.

GoogleCat
GoogleCat

@Carnalpleasure
you are trying to argue that if bitcoin cash is adopted as money it will not be a store of value

this is olympic gold medal mental gymnastics

girlDog
girlDog

@BlogWobbles
BTC will develop layered services. The fundamentals of the coin will not change much more, now. It has its niche and it is considered valuable and appealing. As a reliable and trusted store of value, it can be implemented effectively in business models.

So if your savings account is in BTC, you might feel as though you are buying everything in BTC, but in the actual, background reality of transactions, what is happening is a service provider is paying for all your purchases through the year, using their own (potentially proprietary) coin. You then settle your tab at the year's end, paying significantly less in BTC than you would have if you had bought your groceries with BTC from Jan to December.

Evil_kitten
Evil_kitten

@TechHater
But if all your money is deflationary, it's either buy coffee with bitcoin or buy never coffee. You lose the same value by holding Fiat instead of securities that spending deflationary currency. People will spend either way. Every pizza you bought with fiat was worth a million dollars as well as the opportunity cost was putting it in bitcoin.

5mileys
5mileys

@PurpleCharger
Not because of inflation,or you would just put it in securities until you spend.

iluvmen
iluvmen

@GoogleCat
Actually, it is you doing the gymnastics. But in your case you are running straight underneath the pommel horse and out the other side, because the debate is happening so far above your head.

Methshot
Methshot

@iluvmen
how could bch not be a store of value if it gained mass adoption as money?

Firespawn
Firespawn

@iluvmen
even fiat is a store of value and it's supply is controlled to destroy its purchasing power over time

TalkBomber
TalkBomber

@Evil_kitten
You kind of get it, I think, but the way you put it is unclear. However, this bit is right:
But if all your money is deflationary, it's either buy coffee with bitcoin or buy never coffee.
That is it 100%. So the solution? You accept that the necessities in life are necessary. But you join a service which cost-averages your outgoings Vs the rising price of BTC over an arbitrary period.

The most successful (and therefore profitable) services are ones that use the longest averaging periods, offer the most attractive averaging rates, and take the smallest fee.

Those are service layers built upon a token of predictable and consistent growth.

WebTool
WebTool

@Evil_kitten

But like, wouldn't that depend on the good you're buying. Coffee is a cheap good and arguably a necessity for some people's lives whereas a lot of people would opt out of buying a new phone if it meant they could buy two of the same phones with the same amount of money in let's say a year or so.

TechHater
TechHater

@Firespawn
Right, but wholly in reverse. The reality is:
Supply of fiat is loosened to destroy its purchasing power over time.
Provokes consumption.
Destroys it as a value store.

That is the actual way it happened, historically. There is nothing to say a promissory note CANNOT be a wealth store. Simply that, in our world with QE and NERP-ZERP, it isn't.

FastChef
FastChef

@Firespawn

Yeah but how many people you know with lots of money actually keep it in fiat? I know a few households with assets nearing $5mil but they don't really keep more than $50k of fiat at once.

BunnyJinx
BunnyJinx

@TalkBomber
a deflationary money does not matter when the nominal units of the money are infinitely divisible.

the collapse of the debt based money is inevitable I'm not going to be holding usd when it happens because muh consumer goods economy

GoogleCat
GoogleCat

@LuckyDusty
Who is going to spend their BCH on goods if its value keeps on rising and you can get more for your money in a week, a month, a year's time?

I have lots of currencies and you do that because if you don't then what the fuck are you going to use to pay for stuff? This is beyond retarded.

Stark_Naked
Stark_Naked

@TalkBomber
How could this service pay for 1btc and charge less later if they paid more for it? It doesn't make sense for actual deflationary currency, only your world with deflationary btc and inflationary fiat. But in this case, just cashing out to fiat is the same effect, as is paying the price in btc. In deflationary currency like Japan before Abe, where are these services?

Lord_Tryzalot
Lord_Tryzalot

@TechHater
So now you're arguing you like inflation? That's what crypto can stop you fucking central banker.

Inflationary currencies are the mechanism of financial repression

Sir_Gallonhead
Sir_Gallonhead

@girlDog
what is happening is a service provider is paying for all your purchases through the year, using their own (potentially proprietary) coin

Why wouldn't you be able to do the same with BCH? They both do the same thing, and BCH has the potential to be cheaper and faster.

Make a $50,000,000 ICO with a pretty website, call it Annual Ledger (ANL), and rake in money. Crypto has felt so convoluted lately, it might just work.

Spamalot
Spamalot

@Methshot
That is a more developed point, and could be an outcome. "What if people like to spend BCH so much that demand outstrips supply, and its face value starts to rise?"

Good thought. In that situation, purchasing and transactions grind to a halt, as people defer payment for as long as possible, to get the most bang for their buck later down the line. Sure, you eventually need a new car, but you wait until all the doors are jammed shut and you've put your foot through the rusts chassis.

A deflationary currency in a transactional environment is incredibly damaging to economies. The most likely human responses would be avoidance of payment in any way possible. In extreme cases, this means trading like for like, barter systems. Cash flow grinds to a halt, no tax revenues.

Soft_member
Soft_member

@GoogleCat
then what the fuck are you going to use to pay for stuff

eh, regular fiat?

This is beyond retarded.
it is, but it's making me money.

girlDog
girlDog

@WebTool
You can do that anyway by buying a security that doubles and cash out in a year, but norms don't because they want the new iPhone every year. The opportunity cost is always the same, to invest in deflationary securities or spend fiat, inflation doesn't affect consumerism at all.

likme
likme

@Lord_Tryzalot
I am saying I like a deflationary savings account, coupled with a means of lessening the impact of inflation as much as possible when I am forced to spend money. Who would not?

lostmypassword
lostmypassword

@FastChef
I know it's a shot store of value but this guy @TechHater
is trying to argue that bch wouldn't be a store of value if it was used as money. People having confidence in their ability to buy things with BCH is the precise reason why it will be a store of value and BTC will not

Methshot
Methshot

I have zero idea what's even different about then to normal bitcoin.

All I know is they've gone up 5x in value

Skullbone
Skullbone

@Stark_Naked
How could this service pay for 1btc and charge less later if they paid more for it?

Because do not forget they have your BTC coming to them at the end of the year, and it has value appreciation baked into its cake.

Futures contracts, derivatives, market arbitrage with forex/altcoins will let service providers easily turn a profit.

Emberburn
Emberburn

@Soft_member
Read what I wrote again. My example is FIAT. I get my money via different currencies. IF I DON'T EXCHANGE THEM, i WILL NOT HAVE ANY MONEY.

Firespawn
Firespawn

@LuckyDusty
The price will stabilize when 1 BCH = 5M USD and then only increase per inflation of USD

WebTool
WebTool

@Skullbone
But they lose the 1btc that would have appreciated the same, even more than the 0.7btc

eGremlin
eGremlin

@Sir_Gallonhead
Right, you've got it now.

From the very beginning, everybody has always said "there is no guarantee Bitcoin is the one true crypto god coin".

It doesn't have to be BTC which wins this race. It could be BCH.

In fact, this thread is mostly not about future global macro. It is a very precise point informing users that the "transactable" USP of BCH is fundamentally incompatible with appreciation and Mooning in the real world of economics.

Just be aware of that. Don't let people take you for a ride with flattery and over-promises of the firmness of your erections if you buy their specific brand of snake oil.

Nojokur
Nojokur

@likme
bch:

deflationary savings account : yes
lessens the impact of inflation: yes

@Spamalot
"What if people like to spend BCH so much that demand outstrips supply, and its face value starts to rise?"
bch has limited supply

he thinks people would rather live in squalor and pain then spend their money

A deflationary currency in a transactional environment is incredibly damaging to economies.

Damn right, they make financial repression impossible. There is no real deflationary problem because bch is divisible by 10^8 and more if needed.

girlDog
girlDog

@Spamalot
This is such a bad argument, people can already but securities with fiat, they buy a new car because they want a new car.

SomethingNew
SomethingNew

@WebTool
After two years, three years, etc, you mean?

Well, sure. But try living without outgoings for three years and see how valuable that 0.1BTC is to you then.

Holding crypto will not let you live for free, forever. Itäs not a money printing machine on your laptop. You will still pay for stuff, and your wealth will rise and fall with purcahses.

But the happy offshoot of this is that you will consume less, defer more payments, and it will destroy the shitty, disposable part of modern life that nobody actually likes. Who will buy awful, plastic toy xmas presents for kids any more, when a 0.000001BTC gift will buy them their first car when they're 16, and the action figure would be landfill?

Crypto will change society. It will cure it of many many problems it currently has. But you won't be living for free just because you have a BTC. Nobody really wants communism.

likme
likme

@Emberburn
IF I DON'T EXCHANGE THEM, i WILL NOT HAVE ANY MONEY.

i don't really get your point....crypto is like a savings account for me, i have fiat money in my bank account, and i have money in crypto to make more money. i don't give a shit about the real world use of bitcoin, it's a deflationary currency, those get hoarded, not spent.

TreeEater
TreeEater

@SomethingNew
I'm talking about this "service" that would pay costs at the end of the year, why would they ever pay your 1btc transaction to get 0.7btc at the end of the year, while they could just hold their 1btc and have more than they lend? There's no negative interest rate in lending.

Carnalpleasure
Carnalpleasure

@likme
.crypto is like a savings account for me
A true core shill.

Burnblaze
Burnblaze

@girlDog
You actually have the subtleties of the point, but not the degree of difference there will be.

People "want" a new car now, because there is no point putting aside the amount it would cost, just to enjoy 7% gorwth over three years, or some shitty sum.

But if you could defer buying your new car today, and instead buy it for half the price in January 2019, then you might seriously start to consider it.

Slowing down consumption in a manner, and at a rate, that does not create another load of losers, is the challenge of this century. Deflationary crypto that makes people fucking disciplined with their money will achieve that.

If BCH truly moons, then the idea you "can" spend it will become fucking irrelevant.

Consider, then, that its being sold on the notion of transactability is at odds with the promise of mooning.

Emberburn
Emberburn

@Bidwell

But no one is saying Bitcoin is 'non transactable', theyre saying its only useful for large, time consuming transactions. This is why it has a genuine USP, it can never be forged, it can't be taken from you (if you memorise your seed words), it's the 21st century equivalent of burying gold. It's there when you need it, but it's not for buying coffee.

BCH is trying to compete with every single other transactional token out there, from Iota to fucking RaiBlocks, whilst ALSO saying it's going to end up priced at BTCs value, these are diametrically opposing concepts and BitCH shills really need to go.

StonedTime
StonedTime

@likme
I spend crypto all the time on online purchases, when I get new money I put it in crypto. The only reason I have fiat checking account is because not all places accept crypto. I don't spend fiat because it inflates, otherwise I would just horde crypto and never spend anything, if that was even possible.

TechHater
TechHater

@Emberburn
its ability to transact large amounts is less than bch and is more expensive

bch can never be forged

btc is trying to compete with bch and does nothing better

StrangeWizard
StrangeWizard

@Carnalpleasure
A true core shill.

a true BCH cult member....i don't even own BTC right now, moron. i swear to god, you BCH cultists are even worse than linktards, emotional trading only makes you poor.

Ignoramus
Ignoramus

@Burnblaze
The idea that you can spend it is very relevant, because people can actually use it as currency. People NEED to spend money to live, like foods.

Nude_Bikergirl
Nude_Bikergirl

@TreeEater
Because they can "spend" your contract, don't forget.

They have your fee locked in, in January. They can then sell your custom as a futures contract - this is as old as ancient greece.

They take your membership to market, they say they hope for a yield of 0.9btc on every btc, but it may be as low as 0.7btc. A counterpaty buys it for 0.8btc. They have 0.8btc in January, which they can use throughout the year to invest, trade alts, whatever.

The smartest services will realise the best returns on that 0.8btc, have the largest reserves to offer the lowest transactino fees and best cost averaging rates, and win more customers. The business then scales as more people choose it over costlier rivals, and offers ever greater deals.

Eventually, it puts all its competitors out of business and forms a monopolistic cartel and starts raising fees and averages. But happily we'll all be dead by then.

Sir_Gallonhead
Sir_Gallonhead

@Ignoramus
Youäve been here all thread. You have already had that explained multiple times over.

Inmate
Inmate

@Nude_Bikergirl
The smartest service would just realize the best returns on the 1btc instead of lending in negative interest rate.

Methnerd
Methnerd

@Sir_Gallonhead
The explain is always shit. People spend and always have the ability to save, it has nothing to do with inflation.

FastChef
FastChef

@SniperGod
@TechHater
@New_Cliche
@haveahappyday
@Carnalpleasure
@TechHater
@girlDog
@iluvmen
@TalkBomber
@TechHater
@Spamalot
@likme
@Skullbone
@eGremlin
@SomethingNew
@Burnblaze
@Nude_Bikergirl
@Sir_Gallonhead

this is the best core, pajeet sophistry I've seen

farquit
farquit

@TechHater

This Copper is the same as Gold, they're both Metal and both limited in quantity! But Copper is physically lighter than Gold which makes it better, it's easier to carry and has more real world applications. Stupid Gold cucks not buying Copper, hahaha fucking idiots Copper will be worth more than Gold within the week!

Carnalpleasure
Carnalpleasure

@farquit
so you believe btc has a higher transaction capability than bch?

you believe btc has lower fees than bch?

TalkBomber
TalkBomber

@farquit
Btc and bch are both 21kk

LuckyDusty
LuckyDusty

@Inmate
You don't look at it as lending, because it is not a deflationary value with an interest rate payment attached to it.

The value, from the service provider's point of view, is pooling of a deflationary currency. You can still use this resource as the service provider - it is not the currency that you use to make purcahses.

You are imagining a system where a customer has BTC, puts BTC into a middleman, the BTC stays as BTC, and then pops out the other side as more BTC than was paid in.

It's not that.

BTC goes in. That BTC is pooled. It is used to manufacture derivative contracts and futures contracts. It is converted into myriad altcoins and forex. Payment is completed using an altcoin or a proprietary token. These payments are completed at the most profitable moment for the serive provider. They perform arbitrage on various tokens to average costs. Gains are used first to minimise the end of year settlement fees with clients, and secondly to compete with rival service providers.
@FastChef
Tell me at which point you gave up trying to keep pace with the rest of us.

StonedTime
StonedTime

@LuckyDusty
the "you cant use deflationary currency!" argument
Seriously just off yourself for being this stupid. You're one of those retarded sheeple who think inflation is a good thing.

eGremlin
eGremlin

@LuckyDusty
when you couldn't answer this @Nojokur

JunkTop
JunkTop

@TalkBomber

Yes but BCH was cloned from Gold via a fork. If BCH wins now, whats to stop infinite forks down the line, it will essentially become like printing money.

Ignoramus
Ignoramus

@JunkTop
people have to buy the forks to make them worth anything

you could fork bitcoin everyday but it wouldn't make you rich because you can't make a fork that has a better value proposition

Spazyfool
Spazyfool

@JunkTop
There's nothing wrong with forks, consensus wins. Reread the whitepaper.

Supergrass
Supergrass

@Carnalpleasure

I believe transaction capability is literally irrelevant, if I buy a bunch of gold coins I can't go around 'transacting' with them. I'd have to convert them to fiat and then spend them. Get it through your head, Bitcoin is digital gold, not p2p cash. You guys act like the WP is the Quran and Satoshi is Mohammed, just because the WP says cash doesn't mean it be. Sometimes the market finds a better use case than the designer.

Need_TLC
Need_TLC

@eGremlin
That post wasn't a question. Which bit did you expect answering? Your post is written in a quite confusing way, but if I read it correctly, I think you agree with what I am posting? Not sure please clarify.

@StonedTime
Seriously just off yourself for being this stupid. You're one of those retarded sheeple who think inflation is a good thing.
Read the thread because you have currently not understood.

MPmaster
MPmaster

@Supergrass
Just use real gold then you tard

Evil_kitten
Evil_kitten

@Spazyfool

Implying this is the result of consensus and not highly shady manipulation by mining cartels in order to prey on peoples desire to double their BTC stack.

Look I made 80k off the BCH fork, but even an idiot can see the consensus is with BTC, the fact that miners have to literally band together and crash the network to make BCH even slightly appealing, shows where the consensus lies. If people had to pick one coin right now, forever, over 90% would pick BTC.

iluvmen
iluvmen

@MPmaster

Gold can be stolen or seized from you.
Good look stealing the seed I memorised for my 21 BTC wallet.

Deadlyinx
Deadlyinx

@Supergrass
I believe transaction capability is literally irrelevant
so if btc could transact once a year its value proposition doesn't change?

if I buy a bunch of gold coins I can't go around 'transacting' with them
it's actually the only thing in history that has developed that use across all civilizations

digital gold
bitcoin cash has a better store of value proposition because its worth will be tied to real economic activity

Carnalpleasure
Carnalpleasure

@Evil_kitten
But it was bithumb got attacked when 70% of volume and rising value of bch which is better in every way than segwitcoin. That is actually shady.

Sharpcharm
Sharpcharm

@iluvmen
Where do you live user? Let's find out if you're right...

SniperGod
SniperGod

I swear to fucking christ Bitcoin ABC devs, if you've fucked up the BCH difficulty algorithm.

If this shit continues...

TalkBomber
TalkBomber

@iluvmen
You can buy gold without it physically holding you,Commodities market

New_Cliche
New_Cliche

@SniperGod
Nah, it will ring down.

They won't go flat though due to price variability.

whereismyname
whereismyname

@eGremlin
@Nojokur
I still don't understand really get this post, but re-reading it four times in a row I think you have made a really really basic error here.
There is no real deflationary problem because bch is divisible by 10^8 and more if needed.

It sounds like you are saying that divisibility affects the face value rate of appreciation? This is really wrong. The way you divide the unit has no bearing over the value of the unit itself. It is still valued the same. It is akin to a three year old thinking that £1 divided into 50x 2p coins is "worth more" than £1 divided into 2x 50p coins. Just because you have supplied it with more of a lower denomination.

Again, if this is not what you meant, please explain. I cannot decipher an argument in the post.

Poker_Star
Poker_Star

@whereismyname
you think deflationary money is bad.

deflation is a problem for governments in that consumer economies are not sustainable, that is not a problem for human beings though. (excluding those that don't own precious metals and cryptos when it collapses)

deflation does have a problem for people when the deflation is at a rate so high that people cannot access denominations of money that are reasonable to spend. Infinitely divisible cypto does not have that problem

Firespawn
Firespawn

I wouldn't want to be 0,0000000001 part of this bullshit pump and dump garbagecoin but i love watching these bagholders go back and forth

Flameblow
Flameblow

Coretards need to be gassed.
Hey I have a giant stone bolder in my yard. It is really hard to move so it must be worth trillions!

JunkTop
JunkTop

@Firespawn
do you hold btc?

GoogleCat
GoogleCat

@Illusionz
What the fuck. Its use case was supposed to be fast and cheap transactions, I got neither.

Raising the blocksize limit wasn’t the miracle solution we were promised ,you’ve been diddled lad

Dreamworx
Dreamworx

@Sharpcharm

Literally plebbit-tier levels of stupidity. I have several wallets, if I was ever in that situation I'm literally guaranteed to end up dead because those people will never know if I've given up all my BTC or not. So literally a dumb example. Besides if that ever does happen to me I'll just give them my BitCHcoin addresses and tell them I sold my BTC, kek.

@Deadlyinx

i) Reductio ad absurdim. Stop trying to posterize the issue.

ii) Way to prove my point, Gold is universally deemed valuable but also is one of the least effective means of transferring money. Think about what percentage of purchases are made using Gold compared to Visa. This is what Bitcoin will become, it'll be used overwhelmingly as a reserve currency.

iii) Totally speculative and entirely unlikely. There is only two ways to dominate an emerging market: be the best or be the first. BCH is neither. It can't outcompete every altcoin, nor does it possess OG cred.

Soft_member
Soft_member

@Flameblow

He doesn't realise this is actually a viable economic system that has been used by civilizations in the past.

5mileys
5mileys

@Dreamworx
I believe transaction capability is literally irrelevant
apparently I'm absurd

gold is the least effective means of transferring money
gold has been the only money in existence until bitcoin

what does btc do that bch doesn't do better? slow transactions?

SniperWish
SniperWish

@Soft_member
Nah I knew. But shitskins scribbling on a rock doesn't mean it ever worked.

Ignoramus
Ignoramus

@5mileys
Dude they think expensive and slow transactions make it valuable. They are literally retarded. It's like trying to have a conversation with a monkey. You'll never get through to them because they are too retarded to understand.

BlogWobbles
BlogWobbles

@SniperWish

The only reason it doesn't work in modern society is because modern technology allows these boulders to be moved. The faster you realise that Bitcoin is the return of this economic model the better. The blockchain is the equivalent of the transactional record, and the bitcoins are the boulders.

@5mileys

You posterized the issue by taking an absolute absurd extreme that would never happen (1 year transactions) to disprove my genuinely valid claim, which because you're too autistic to infer I will simplify for you: the realistic minimum transactional speed for Bitcoin, i.e. the lowest it will ever go, will not affect the price by a significant amount.

Deadlyinx
Deadlyinx

@LuckyDusty
Who is going to spend their BCH on goods if its value keeps on rising and you can get more for your money in a week, a month, a year's time?
You do realise people say that about Bitcoin too practically every day? And it was an argument we Bitcoin oldfags had to fight against for years?

The argument applies to Bitcoin with Lightning Network too, not just Bitcoin Cash.
And it's retarded.

Let me blow it the fuck out right now:
you have dollars$
retard comes along, says "why would you spend your $ on goods if you can convert it to BTC and have its value keep on rising???"
So, the argument applies equally to USD or any other currency since they can be easily exchanged with each other.

Snarelure
Snarelure

it doesn't matter if you can't use it for anything, people will just buy it
coretards

RumChicken
RumChicken

@Deadlyinx
The OP is a very specific point.
Why market an altcoin on its superior transactability, while making claims its face value will moon?

Lunatick
Lunatick

@RumChicken
You're retarded, aren't you, friendo? It's okay.
Both can be true. As was true with Bitcoin the last 8 years.

massdebater
massdebater

@Illusionz
If you paid $8 for a Cash transaction you are retarded. It's literal cents.

Also 5/6 is 5 confirmations. That's up to the service you are using. Moving between exchanges is not a regular "transaction". Buying a pizza can be done with zero confirmations. Did you never use Bitpay with Bitcoin back in the day, newfag?

Methnerd
Methnerd

@Lunatick
No. You can create the groundwork to make it easy for individuals to transact. You can make it easy as pie. But if the face value continues to rapidly appreciate, nobody is going to spend it.

That is just very very entry level market psychology.

I like your inventive personal insults, but they do not alter the facts, nor the course of this discussion.

CouchChiller
CouchChiller

@Methnerd
It's clear this is not true, or nobody would spend anything and everyone would just be holding coins already, never buying food or paying rent.

girlDog
girlDog

@CouchChiller
Your hypothetical situation requires an individual's entire wealth to be in crypto.

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