Some months ago I asked myself if Bitcoin is still Cash or has become a store of value? I started my crypto journey back in 2015 with Bitcoin, the digital currency that powered on the Bitcoin network. I had some $BTC and I sold it all for peanuts, never getting the chance to buy them back!
The recent changes and transaction fees made me wonder if Bitcoin is it still Cash or has become a store of value? Is BTC still a "peer-to-peer electronic cash system" or this legacy is continued by Bitcoin Cash? Only Satoshi can settle this debate!
Sold over 6 BTC years ago, for a silly amount of money, so every Bitcoin pump makes me calculate again and again how much they would be worth it in present days. The ATH from 8th of March would pumped my 2015 holdings to $465,000 ... a life changing amount of money. Now you understand why HODLers always win?
Bitcoin was created as a form of digital money that exists independently of any government, state, banks or financial institution. At a deeper level, was intended to be described as a political, philosophical, and economic system.
However, controversy regarding the block size and transaction fees is still a hot topic. The status quo in the Cryptoverse orbits around low fees and fast transactions, which Bitcoin doesn't achieve.
Why are we having this discussion? I won $20 worth of $BTC from a giveaway organized by Bitdeer (Bitcoin mining and AI Cloud Solutions), and got tipped the rewards through Twitter. The prize stayed there for weeks, as the fees where halving my reward if I wanted to transfer it somewhere else.
I noticed I also had $0.16 BCH in the Twitter tipbot, and I was able to withdraw it instantly and the fee was under one cent! It may not be the most trending cryptocurrency but BCH is efficient by design! The low fees and fast transactions make BCH as the perfect peer-to-peer cryptocurrency, a solution that can be used for everyday normal transactions.
Let's go back to our story! Bitcoin started pumping and I remembered the little prize that was long forgotten on Twitter. Decided to withdraw it anyway and paid $5 in fees to send it to my Crypto.com account. I like numbers so I calculated the fee at ATH price, and the 0.00009597 BTC is $6.66! Told you something evil is happening!
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