Since the Bitcoin Cash team and community are trying to sell their asset by constantly referring to the coin’s very low transaction fees, let’s make a quick research and reveal the true KING of the low fees, shall we?
According to BitInfoCharts – average transaction fees:
- Bitcoin (BTC): 16.05 USD
- Bitcoin Cash (BCH): 0.301 USD
- Dash (DASH): 0.296 USD
- Ethereum (ETH): 0.238 USD
- Litecoin (LTC): 0.091 USD
- Ethereum Classic (ETC): 0.01 USD
- Doge (DOGE): 0.0016 USD
- ZCash (ZEC): 0.00012 USD
So that would mean DOGE is the ‘Real’ Bitcoin right? Or ZCash since it has the lowest average by far, correct? Plus, ZCash is waaay more anonymous than BTC or BCH. And it has a fair amount of value per coin (over $271).
So why is Bitcoin Cash the ‘Real Bitcoin’ again?
Ok, it’s scales better, you may say but, let’s face it, thus far, the BCH blockchain wasn’t tested that much. In fact, since its inception, in August, there have been wild swings in terms of transaction confirmation (from a matter of minutes to hours). Yes, yesterday’s hard fork should fix the problem but such things usually take time. You can't expect to just fork and then try to take BTC market cap in a matter of months based on ‘low fees’ and assumptions.
And since we are talking about scaling, let’s reveal who the true Bitcoin is.
According to the same source – transactions last 24h (average transactions per hour):
- Bitcoin (BTC): 283,592 (11,806)
- Bitcoin Cash (BCH): 27,342 (1,139)
- Litecoin (LTC): 24,786 (1,033)
- Ethereum Classic (ETC): 39,805 (1,659)
- Ethereum (ETH): 453,618 (18,901)
So, you were saying…
Jokes aside, by far, and I mean by faaar, Ethereum should be the real Bitcoin if low fees and scalability are all that matter in the fake/real Bitcoin discussion.