I have started to see BCH gaining more ground lately in general as the BTC narrative has begun collapsing.
I think BCH might be a good play going forward because many BTC holders will eventually jump ship and they are most likely not going to go to Monero but to BCH.
Of course Monero is superior but there is a large crowd that will not touch anything without the bitcoin label.
I think if people made the jump from BTC to BCH they’re more likely to jump to XMR as switching is much cheaper and XMR is pretty much the private and fungibel version of BCH.
Does that logic check out?
For sure many will jump to XMR, but I still think most cannot let go of “bitcoin”. I do think that XMR will need some improvements in the scaling department though, as the stressnet experiment has showed that over ~500k TX per day nodes become pretty unstable.
To be fair, that’s not too bad. I mean, we only have about 25,000 transactions per day right now, and so we’ve discovered that this is an issue far in advance of when we will likely be needing it, which is always helpful. Thank you to the great people running the stress net. I am not one of you, but I salute you and your work. Thank you for your service. I am, however, in small ways working with other projects to hopefully help move the community forward.
The issue is that if there is a flood of transactions, like an attack, it will impact the network. Hopefully the devs can implement fixes which can allow us to hit 1 million TX per day with no issues.
If attackers know that they can cripple the network with a particular attack then we are in a bad position. It would be very expensive to flood that many transaction on mainnet, but it is possible for someone with deep pockets.
I have started to see BCH gaining more ground lately in general as the BTC narrative has begun collapsing.
I think BCH might be a good play going forward because many BTC holders will eventually jump ship and they are most likely not going to go to Monero but to BCH.
Of course Monero is superior but there is a large crowd that will not touch anything without the bitcoin label.
I think if people made the jump from BTC to BCH they’re more likely to jump to XMR as switching is much cheaper and XMR is pretty much the private and fungibel version of BCH. Does that logic check out?
For sure many will jump to XMR, but I still think most cannot let go of “bitcoin”. I do think that XMR will need some improvements in the scaling department though, as the stressnet experiment has showed that over ~500k TX per day nodes become pretty unstable.
To be fair, that’s not too bad. I mean, we only have about 25,000 transactions per day right now, and so we’ve discovered that this is an issue far in advance of when we will likely be needing it, which is always helpful. Thank you to the great people running the stress net. I am not one of you, but I salute you and your work. Thank you for your service. I am, however, in small ways working with other projects to hopefully help move the community forward.
The issue is that if there is a flood of transactions, like an attack, it will impact the network. Hopefully the devs can implement fixes which can allow us to hit 1 million TX per day with no issues.
If attackers know that they can cripple the network with a particular attack then we are in a bad position. It would be very expensive to flood that many transaction on mainnet, but it is possible for someone with deep pockets.
Bitcoin is like gateway for real crypto (monero) like fiat is to bitcoin!