2019-4-8 17:00 |
Bitcoin Cash [BCH] proponents were overjoyed after the coin outpaced Bitcoin [BTC] in the recent price rally. The fifth largest coin in the market rose by over 82 percent in value, over the past week, while Bitcoin consolidated its position over the $5,000 mark.
Roger Ver, the CEO of Bitcoin.com, was ecstatic and voiced his pleasure during a recent episode on the Bitcoin.com YouTube channel. Joined by fellow BCH proponents Corbin Fraser and Emil Oldenburg, the trio spoke about a host of developments, including the price rally and the traffic in Bitcoin’s network.
During the price surge which saw the top coin breach the $5,000 mark, the network was reported to be congested, with many transactions being unconfirmed. Ver, who has been an outspoken opponent of Bitcoin since the August 2017 hard fork remarked, “Told you so,” to the congestion dilemma.
Given the fast-paced filling of these blocks, Ver stated,
“If you’re still building on BTC, you’re guaranteeing your customers are going to have a bad user experience the next time the blocks are full, which is right now.”
The trio also spoke about fees on the BTC network, which Fraser opined was “around $2.” Ver highlighted that businesses will have higher fees owing to their usage of multi-sig wallets.
Ver added that Bitcoin core developers celebrated the increase of transaction fees in the network, referencing the CTO of Blockstream, Greg Maxwell’s famous “pop the champagne” line.
He added that if customers prefer a cheaper method of transacting, an option available to them is to switch to Bitcoin Cash. In his own words,
“If you’re someone that thinks that cryptocurrencies should be like fast, cheap to use and reliable, BTC is not for you because the core developers behind it openly say they want the fees to be high.”
Ver even referred to his beloved Bitcoin Cash as a “privacy token,” given the March integration with Cash Shuffle via the Electron Cash wallet to boost privacy. Post the launch of the application, the BCH wallet will keep track of shuffled and unshuffled coins.
With the 2020 halving for both Bitcoin and Bitcoin Cash on the horizon, proponents of both camps are expecting a price rally. Ver however, expects more congestion when the halving takes place, stating, “it doesn’t have the block size.” Many analysts have even credited the halving for BCH’s weekend price rally, highlighting that Litecoin [LTC] also spiked due to the anticipation of its August 2019 halving.
The post Bitcoin [BTC] developers want network congestion to charge higher transaction fees, says Bitcoin Cash’s Roger Ver appeared first on AMBCrypto.
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