Bitcoin is “as good as useless” and has no future as a tradeable currency says Emil Oldenburg...

>Bitcoin is “as good as useless” and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world’s largest bitcoin websites.
>Oldenburg has sold his bitcoins and believes others will do the same when they realize how illiquid the market is.
>He says bitcoin’s drawbacks are high fees and transaction lead times a heated topic of discussion in the community today and resistance to change from people running the old bitcoin network.
While buying, selling or trading bitcoin is not an issue today, Oldenburg says, problems surface when bitcoin transactions are recorded on the blockchain, the digital ledger that records each transaction.

There’s only a limited amount of transactions per second you can make in the bitcoin network, which in part depends on the “block size” of the memory that store the transactions on the blockchain. This bottleneck makes for a highly risky and illiquid cryptocurrency, Oldenburg says, adding that “the old bitcoin network is as good as unusable.”

The reason why bitcoin holders haven’t understood these risks, according to Oldenburg, is because most have so far only bought the cryptocurrency but never sold or traded with them.

“As soon as people realize that this is how it works, they will start to sell,” he says to Breakit.
Even though these “up to 12-hour transaction lead times” (when moving bitcoin to and from exchanges) could be adressed, Oldenburg sees no signs of change, because the currency is purportedly being run by the ”old” bitcoin network, the members of which he calls “fanatical bitcoin talibans”.

”[They] want things this way. They see bitcoin as a digital gold and a technical experiment, as opposed to something you can actually use.”

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Holy shit we goin down with no survivors.

(((oldenburg)))

Before all these 2017 normie faggots showed up BTC tx's were cheap (fractions of a penny) and would confirm within 2 blocks.

>2 blocks
>not 0-conf in 2 secs
haha normie!

HOly SHIT...It's over! Sell or remain poor forever! I'm Selling now!

The only reason I clicked this thread if for your pic OP. I didn't read any of your shit.

Not. One. Line.

BTC = Banker Coin

It's not a currency anymore. BTC is not Bitcoin anymore. Bitcoin /is/ a currency, and the ticker for it is BCH.

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How the banks bought Bitcoin:

youtube.com/watch?v=UYHFrf5ci_g

youtube.com/watch?v=sbD0kiTddEs

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> I once heard the argument that "Bitcoin Cash is like someone making a fake burger stand in front of the Burger King shop and claiming to be Burger King."

> THE REALITY is this:

> Bitcoin Core / Blockstream is the one who got into Burger King as new management, and faced with the ever growing demand for burgers; they decided to NOT increase the number of burgers being made, due to having only 1 kitchen, and they tell customers ordering burgers to get a salad instead, because its better for them... but they will have to wait for it...

> Bitcoin Cash is the new restaurant across the road with all the workers from Burger King who left BK so they can continue making the same classic burgers people want, AND they increase the number of kitchens so they can make more burgers faster to keep up with the demand. Customers get the same classic full-sized burgers and quickly.

> Meanwhile, the legacy "Burger King" shop with the new management, there people stand waiting in long lines to get their burgers AND as they finally get them, a janitor eats a huge chunk of the burger before the customer gets to hold it in his hands. People will eventually get tired of all that crap and switch to the other shop across the street.

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