Hi all,
I want to discuss a little bit as to why I think BitcoinCash has seen a massive upsurge in price.
Let me walk you through a recent happening that occurred with one of my friends. My friend was planning to buy Litecoin with Coinbase, and send it to exchange to buy some EOS.
Instead, he accidentally bought Bitcoin. He bought $250 worth of Bitcoin.
When he went to send the Bitcoin to Exchange it into EOS, the fee to simply send the coins out of Coinbase was over $25!
Yep, over 10% fee just to send Bitcoins out of Coinbase.
Is this an issue with Coinbase? No. This is an issue with Bitcoin in general.
Please take a moment to look at this, the current fee stack:
You can see that, despite people paying over 3-500 satoshis per byte (which is a very very high fee), the transactions still aren't confirming in a fast time! Look at how many blocks it takes!
To get down to the normal average of 1-3 blocks, a user must pay a whopping fee of 611 Satoshis / Byte.
The Exchanges cannot do anything about this, the network is just congested.
BitcoinCash has large blocks which do not allow this to happen. BitcoinCash's fees are miniscule compared to Bitcoin.
This is one reason people are making the switch; this is why people are starting to wake up to BitcoinCash.
Please take a moment to read one of the many posts I have made on BitcoinCash. I have been a major proponent since the beginning. I believe BitcoinCash to be the truest form of Bitcoin that we have. And by truest form, I mean closest to the original idea and legacy of Satoshi Nakamoto (long live).
Please take some time to learn the whole story about BitcoinCash and you will begin to understand why the battle for the true throne of Bitcoin is just beginning. You will also understand how not everything is as it seems, and perhaps Bitcoin was not taking the appropriate path (according to what the people wanted).
Thanks for reading and happy investing! I wish you MASSIVE PROFITS!
☮❤ⓣⓡⓤⓣⓗ
-spiftheninja