March 1, 20183min1455

Is Bitcoin getting more attractive?

For some time Bitcoin was very unattractive to use, which it seemed first it didn’t have much of an impact on its price. Bitcoin camp adapt to the change by saying this cryptocurrency was not meant to process small transactions such as buying coffee for instance. Bitcoin Cash was created as a counterbalance to that problem. They claimed that Bitcoin in current state and philosophy of its ”hodlers” are in straight contradiction to the Bitcoins whitepaper written by its creator Satoshi Nakamoto.

And not only that, one of the biggest criticism of bitcoin was that it got hijacked by blockstream. The reason for this criticism to become so spread out is that allegedly many Bitcoin developers are also working for block-stream and are in connection with the banks. Therefore they are the ones who raised the transaction fees intentionally for bitcoin to become unattractive. While shorting in and profiting from it when in a bear market and also in consequently bull market. ”What goes up, must come down” and vice versa. This is unproven and it was only highly talked about when it was a problem of high average transaction fees. This has settled while new problems arose. Such as a massive correction which came in the start of February that blew much of ”noise” away.  That cleared the network.

bitcoin graphSo to answer the question. With all the noise ”being” cleared. The network isnt as congested anymore, and the mempool (transactions waiting room) is getting less and less crowded. Consequently, average transaction fees dropped from all time high of 55$ to under 5$. This greatly improves usability and thus attractiveness of the decentralized peer to peer cryptocurrency.bitcoin graph

One thing is for sure Bitcoin has something no other blockchain, tangle or tokens have which makes it so popular. That is not just the first movers advantage, but the fact that there is no one owner who can by flick of the switch, kill the whole thing. At least not as we know it.


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