Ok so, fluctuations with bitcoin the past few days have people a bit worried. I have always had strong faith that bitcoin would continue to grow and thrive. Though, today I came across an article on CCN.com titled "Bitcoin.com Co-Founder Switches To Bitcoin Cash, Says Transaction Issues Doom Bitcoin".
The article that is written by Lester Coleman goes on to state that Emil Oldenburg, Bitcoin co-founder and chief technology officer at Bitcoin.com, has sold his Bitcoin and switched to Bitcoin Cash because he is skeptical about its future, according to Breakit, a Swedish website. He goes on to state that investing in Bitcoin right now is one of the riskiest things an investor could do.
"He said bitcoin’s transaction times, costs and lead times have undercut bitcoin’s value as an investment".Bitcoin transaction fees have doubled every three months, and it now takes an average 4.5 hours to confirm a transaction. Fees reached $26 per trade recently, according to Ars Technica. This is a huge transaction charge because for Bitcoin Cash, the fee is a tiny fee of 0.012$. He maintains that the blockchain of Bitcoin Cash is made do maintain much larger amounts of data with 8mb of space. He also speculates that Bitcoin Cash will be rebranded to the name Bitcoin, and Bitcoin itself would dissolve. I have included the link to the official article, https://www.ccn.com/bitcoin-com-co-founder-switches-bitcoin-cash-says-transaction-issues-doom-bitcoin/.
I don't know about you guys, but when a co-founder of Bitcoin goes publicly and states that Bitcoin is going to fail, Im starting to worry. To switch all of my bitcoin to bitcoin cash? Or is this purely speculation. Please share comment and share your opinions with me my steemit people. Is bitcoin going to die?
