What is happening to Bitcoin Cash at the moment?
It's already on 850$ and seems to be increasing more and more. Anyone knows the reason for that?
It's already on 850$ and seems to be increasing more and more. Anyone knows the reason for that?
Segwit2x suspension / cancellation is driving people/traders/miners who really do want a larger blocksize and lower fees
towards Bitcoin Cash (which has 8mb blocksize and lower fees).
I think some cash will also flow to Dash now, which will soon have 2mb blocksize and pretty much the lowest fees of them all.
This is a battle of value of store (Bitcoin) versus value of usability (Bitcoin Cash / Dash)
It's absolutely pointless for Dash to have 2MB blocks, their current blocks are empty as it is:
Or: https://bitinfocharts.com/comparison/dash-size.html
Based on eyeballing, the avarage blocksize seems to be roughly around 12 KB which is only 1.17% of the full capacity.
So it's kind of just a marketing ploy than anything else.
Otherwise I agree with your assesment.