Sirwin
Sirwin

Public Thoughts #5: BCH vs BCHABC

By Cryptopeach | Public Thoughts | 14 Dec 2020


What is the best and what is expected to survive?

 

A short time ago we saw a hard fork in Bitcoin Cash, around half of developers wanted to introduce a 8% fee in each block that BCH produced among other things but this one gave birth to a polemic and BCHABC was generated. The purpose of this fee is to help the development of BCHABC.

 

In my opinion this was a bad choice from BCHABC, i will make some points:

 

• First, the block reward will be less than BCH reward. This make miners to continue mining BCH rather than BCHABC because it's more profitable. The price of ASICS for mining BCH and the cost of energy running it makes miners work with what is more lucrative, so one point to BCH.

 

• The polemic didn't help BCHABC, i saw to many people oposing the idea, i am one of those because it's a bit shady taking that 8%, you never know if it is used for it's purpose or if it's used to fill some bags.

 

• What happened right after the fork? The price drop was tremendous, BCHABC drown on a market cap of more or less 250 million USD, opposed to the market cap of BCH which is more than 4 billion. The price dropped to around 15 dollars.

 

• Nobody knows what is the max. supply of BCHABC, that should be one of the first things they could come out to say, it's important for the price and scarcity.

 

• One very easy to figure out problem is the name, "BCHABC", it's not a name to give to a coin, it has too many letters and it is hard to say. Of course this point is the less of BCHABC problems, but i think that separate itself from BCH would be a good thing since one of the core features of the coin was completely altered.

 

So my opinion is that BCHABC will fail big time, it will be a flop but cryptocurrencies has always the thing to suprise us.

 

What is your opinion, what's the best coin? Which one will be the strongest?

 

Best Regards,

 

Cryptopeach

Source (my own post on Read.cash): https://read.cash/@Cryptopeach/public-thoughts-5-bch-vs-bchabc-099f6813

 

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Cryptopeach
Cryptopeach

Crypto enthusiast.


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