The future of Bitcoin has been in jeopardy for some time now. A fractured community and network issues have proven to be rather problematic, as demonstrated in the substantial decline in the dominance index of bitcoin.
More specifically, there is the competition in the form of Bitcoin Cash. If Vinny Lingham can be believed, it is only a matter of time until Bitcoin takes a backseat to its offspring. It’s another big validation for BCH, although the future has yet to be determined.
Most investor think Bitcoin and Bitcoin Cash are on the same path. That is not entirely the case, even though they both have the Bitcoin moniker Vinny Lingham claims BCH is better for fast payments. Bitcoin, on the other hand, works best for people looking to invest, as a robust and secure store of value. He echoes how Bitcoin is a store of value instead of a currency these days. That is a very worrisome development for Bitcoin, to say the least. After all, it is supposed to be a proper currency, yet it clearly isn’t right now.
Vinny Lingham has High Hopes for Bitcoin Cash
From a product standpoint, Lingham thinks Bitcoin Cash is in the best position. More specifically, it is the peer-to-peer cash we have been looking for. That doesn’t mean Bitcoin Cash will overtake Bitcoin by default either. There is still a lot of work to be done in this regard. Especially when it comes to mainstream use, both currencies lack significant traction right now. It will take a lot of effort to make cryptocurrency go mainstream, unfortunately.
Furthermore, Lingham remains confident Bitcoin and Ethereum are both solid investments. However, they are not the only currencies people should pay attention to whatsoever. Vinny is confident now is the best time to buy some Bitcoin Cash as well. Given the current market volatility, diversification is always the best course of action. Both Bitcoin and Ethereum may have reached their glass ceiling for quite some time to come.
It is evident the opinions on Bitcoin Cash will remain divided for some time now. The currency certainly has a lot of merit due to technical superiority right now. Bitcoin has the main “marketing appeal, for the time being. It will be interesting to see how both of these markets evolve in the next few months. It is evident Bitcoin is not the perfect cryptocurrency most people think it is. In fact, it is far less of a currency compared to a few years ago. Whether or not any altcoin will effectively overtake BTC, remains to be determined.
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