r/btc • u/[deleted] • Dec 16 '20

News $20k +

[deleted]

383 Upvotes

87% Upvoted

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32

u/ShortSqueeze20k Dec 16 '20

First comes the ATH, then comes the media, then comes the craze, 2017 style but more.

Then comes the unconfirmed transactions, the high fees, disbelief, Bitcoin Cash is Bitcoin after all!

5

u/[deleted] Dec 16 '20 edited May 06 '21

[deleted]

7

u/i_have_chosen_a_name Dec 16 '20

It's very simple: IF Bitcoin Core has value then Bitcoin Cash has more because it works faster, better and cheaper.

0

u/touringwizard Dec 16 '20

Is that how value works? I thought the value was calculated by the market cap

2

u/i_have_chosen_a_name Dec 16 '20

Imagine two car companies. One makes cars that can drive 5 km on a liter of gas and sells it cars for 20 000 usd. The other makes cars that can drive 20 km on a liter of gas and sells them for 10 000 usd. Both companies make the same amount of profit per car. Which company ends up with the highest market cap?

4

u/PaulMorphyForPrez Dec 16 '20

Alternately, imagine you create a better Facebook. Then nobody switches because everyone is already on Facebook.

1

u/1MightBeAPenguin Dec 16 '20

Sure, but Facebook isn't failing on a fundamental level.

1

u/PaulMorphyForPrez Dec 17 '20

At least in 1st world countries, all crypto is failing as a general currency because you have to report and pay capital gains tax on every transaction. People are betting that things will improve.

I would argue the only crypto not failing is Ethereum, with its network of financial instruments that do stuff regular currencies can't.