Monat: November 2020

There are those who rejoice in the almost unequalled performance of Bitcoin (BTC) in the last few days, and there are others.

Roger Ver, the ardent defender of Bitcoin Cash (BCH), has chosen his side …
Meanwhile, Roger Ver criticizes (again) Bitcoin
Roger Ver and Bitcoin (BTC): I love you too

Roger Ver is one of the most vocal figures in the Bitcoin Cash (BCH) community. He has already expressed several times his disdain for the cryptomony from which his hard fork is made… Even when it skyrockets.
Proof of this was made yesterday, by a tweet from Roger Ver rather… Salty :

I would’ve continued to promote BTC if it hadn’t been intentionally crippled. Today any honest person would be embarrassed to promote something with as bad a user experience as #Bitcoin

Roger Ver is ironic about the Bitcoin network (BTC) confirmation delays and its high costs. He explains:

„I would have continued to promote the BTC if it hadn’t been intentionally crippled. Today, any honest person should be embarrassed to promote something with such a bad user experience. »

Bitcoin, more than a currency?

If Roger Ver’s grunts can make you smile in the middle of a Bitcoin bull run, they are still revealing. As the BTC approaches $20,000 again, and several analysts are talking about the possibility of an increase up to $300,000, the question of the purpose of Bitcoin still remains.

The world’s leading cryptomoney is now widely seen as an investment asset, and is regularly compared to gold. This summer, we learned that 61% of the Bitcoin in circulation had not been touched for at least a year. As a result, users tend to use the asset as a store of value rather than buying pizza or coffee.

Faced with this, Bitcoin Cash (BCH) wants to be a useful currency, at least according to Roger Ver. But is this really the case? Its payment network can handle more transactions, thanks in particular to a much larger block size (32 Mb versus 1 Mb for Bitcoin). But in reality, these possible performances will only count if Bitcoin Cash is massively adopted, which is not the case at the moment.

Still, the Bitcoin Cash price has also benefited from the current bull run. After having ousted its rival Bitcoin Cash ABC (BCHA), BCH is among the biggest increases over a week, with +44%:

Over the year, assets grew by +69%. This puts an end to fears of a fall in prices following the hard forks experienced by Altcoin. Whether Roger Ver likes it or not, for the moment it is speculation that reigns.

The end of a (very) long wait? Ethereum has finally started its launch process for phase 0 of its version 2.0. Already, future stakers have sent their ETHs on the contract. But are they as numerous as expected?

Community begins to commit funds for Ethereum 2.0

To say that Ethereum 2.0 and staking were expected is an understatement for the community of the second largest cryptocurrency at the moment. Ethereum went through long years of development and several hitches before it could move the project forward. But we now know the launch date of phase 0, which was announced by the Ethereum foundation on Wednesday.

On Ethereum Launchpad, which gathers information about the launch of Ethereum 2.0, we can see that more than 15,400 ETH have already been “staked” . This is a considerable commitment for users: these ETHs cannot be withdrawn before phase 2 of Ethereum 2.0, i.e. in at least two years.

Currently 15,400 ETH is over $ 6 million . For the mainnet to start, however, the community will have to send 524,888 ETH to the contract, so we are still a long way from it. Which did not fail to raise doubts within the crypto community.

Will Ethereum succeed in mobilizing investors?

A recently published Consensys report pointed to a potential limitation of Ethereum 2.0. Investors may want to wait before committing their funds … Especially if the grass is greener elsewhere:

“There is concern that ETH hodlers might (at best) wait to see how much the initial staking brings in , comparing it to the DeFi sector . At worst, they could also choose not to “risk” locking in their ETH before phase 1.5, which will take place at least in a year and a half, in case a bull run […] occurs in the meantime. “

The launch of ETH 2.0 indeed comes at a time when the prices of Bitcoin (BTC) and Ether are on an upward slope. For ETH holders, therefore, it makes sense to wait and see where it goes.

In addition, the DeFi sector is also in competition … If one is ready to assume the risks. The „Degens“ have shown that they do not hesitate to send their funds to risky contracts in order to take advantage of opportunities, Andre Cronje has experienced this several times. A less risky investment, but also less immediate, will it therefore be enough to tempt ETH holders in sufficient numbers?