Bitcoin is done

765 15
With the reduction of developer support, high fees, slow transaction times, and growing demand for Bitcoin Cash as a replacement, I'm sad to say the Bitcoin Core team has effectively killed off the BTC symbol. It may last for a few years but I do believe this is the beginning of a very long bear period for BTC with a couple of strong bounces.

Bitcoin Cash needs a lot more support on the infrastructure side, which should be an easy switch due to the similarities. This all depends on the ability of BCH to absorb miners from BTC during the bear period.
remarkably accurate
Bitcoin is slow right now, but not that slow! I sent a transaction the other day using literally .10 usd in fees and it only took a day to send. I dont think its as much of a problem as people think it is right now, but i do agree it soon will be a much bigger problem. Buts that okay! Cause when bitcoin really really needs the fork, it will happen, and everybody will agree with it. When everybody really agrees that we really really need a fork to fix all this, and eventually people will, i promise, we will have a full fledged fork with probably more that 90% network confirmation. A fork that started with less than 10% network confirmation will not take over the main coin, it just wont. We need a fork that starts with a majority of the network! thats when we will actually move on. Bitcoin Cash is not the answer. Obviously all my opinion but im pretty sure about all this.
Ni6HTH4wK stupendelious
@stupendelious, well there was an agreement between the miners and the developers, but when it came down to it, developers ignored the agreement. Which wasn't all that bad because it was discovered later that their code had bugs. IOW, no one knows the future, but we can trend it out, and trends don't lie.
You are good at the charts, but bad at understanding Bitcoin. Thanks for your chart work.
Ni6HTH4wK vaskojovanov
@vaskojovanov, thank you for your observation.
And that's how Bitcoin died. The 173rd time.

Sorry, but BCH is nothing more than technological dead-end. You will understand why in about a year if it gains any traction at all.
Ni6HTH4wK Santiago_B
@Santiago_B, BTC won't die, but the probability that it will gain traction during this period of slow transaction rates and high transaction fees is slim. Visa can process 24,000 transactions a second, BTC can only do 10 max. Whatever coin can improve on that number with the same capabilities and mining power will be the winner.
Santiago_B Ni6HTH4wK
@Ni6HTH4wK, to match average Visa transaction amount on chain, either BTC or BCH need at least 1GB blocks. If we have 10 minutes blocks, that means 1TB blockchain size in 6 days, 50TB in less than a year. This will seriously hamper the ability of an individual to host blockchain node and leads to network centralization in hands of corporate and government entities.

BTC has an answer to this issue in form of Segwit, which increased the amount of data you can fit in a block roughly 1.7 times, and Lightning, which is working in testnet for several months already. What solution is BCH "team" proposing?
Ni6HTH4wK Santiago_B
@Santiago_B, 1GB blocks is agreeably ridiculous. At some point, you need a limit to keep the network healthy, but 1MB is not the answer... it's not 1995 anymore. Segwit is interesting technology, but it isn't taking care of the issues today otherwise BTC would still have low fees. Lighting network has been testing for (how long?) and still hasn't been implemented. BCH has already fixed the problem for now and isn't opposed to future improvements on chain.

With heated competition, there will be a "team" that finds an answer. Everyone knows this.

Don't be married to a coin just because you made a mistake and sold early, diversify. :)
I thing it's hit 9000
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