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On Wednesday, digital entrepreneur Kim Dotcom took to Twitter and talked a lot about the huge difference between Bitcoin fees and Bitcoin Cash fees. While labeling Tesla’s Elon Musk, Dotcom explained that more than half of global payments are less than $10, and the Bitcoin Cash network “is serving the mass market. [and] Not just 1%. “
On March 24, the cryptocurrency community was ecstatic and heard that Tesla accepts Bitcoin (BTC) as payment. After Tesla’s Elon Musk announced his resignation, Elon Musk has now disbanded and the company has now discontinued its file hosting service Megaupload, which he discussed on Twitter.
Dotcom has recently been vigorously promoting Bitcoin Cash (BCH) because he believes that crypto assets provide a sustainable peer-to-peer electronic cash system. In mid-January, Bitcoin.com’s news desk interviewed Dotcom and he told us his plan to “accelerate” the adoption of BCH. After the interview, Dotcom published a descriptive website that demonstrated the benefits of using BCH.
After Tesla’s announcement, Dotcom explained that fees on the BTC network are neither reliable nor sustainable for certain payments. “Try to buy soda with Bitcoin,” Dotcom Say. “[The] Median cost $8.92 [and the] The median cost of Bitcoin Cash is $0.001. More than half of all cash payments worldwide are below $10. BCH serves the mass market, not just 1%. Dotcom said, while still putting the label of Tesla’s Elon Musk on the post.
Of course, many BTC supremacists don’t like Dotcom’s statement. For example, Bitcoin.org owner Cobra insists that when you buy a car, the cost of $8.92 is negligible.But advocates of the Biosafety Clearing House David Bond Respond quickly to Cobra, reminding him that the BTC fee has been changing.
“Today is $9, tomorrow is $1,000,” David Bond Tweet Responding to the owner of bitcoin.org’s statement. In 2017, in the last bull market, Bitcoin (BTC) fees jumped to more than $50 per transaction.
Dotcom not only posted tweets, but also left comments to critics because he responded very positively throughout the topic. In addition, Tesla’s Elon Musk responded to Dotcom’s statement, Say “It makes sense.” When critics of the Dotcom statement asked about the so-called scaling solution, Lightning Network, the creator of the content monetization app called K.im, responded further.
“Satoshi did not envision Bitcoin as a new type of bank controlled by the same corrupt power structure as our current financial system,” Dotcom Say. “Solutions like Lightning have not changed our broken system. Users must control the keys of their digital currencies, not third parties.”
Transaction fees, transaction speed and security are the most important to suppliers and users. This is why I prefer Bitcoin Cash. According to Satoshi’s vision, it can store both value and electronic cash.
The digital entrepreneur responded to this, and he wholeheartedly believes that BCH can provide services for medium-sized exchange fans and value fans. In addition, Dotcom also plans to utilize Bitcoin Cash (BCH) in the upcoming content monetization app K.im. Dotcom also pointed out that the K.im platform is just one of many killer applications entering the BCH network.
Dotcom insists: “With the emergence of new killer applications and large supplier networks, Bitcoin Cash is gradually being adopted by the public.” “That’s why. [the Bitcoin Cash network] His daily transaction volume has surpassed Bitcoin. He added. Today’s statistics on the website portal bitcoinfees.cash show that the current BTC fee for entering the next block exceeds $9 per transaction.
What do you think of Kim Dotcom’s recent statement on Bitcoin and Bitcoin Cash? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons
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