I mentioned some of the reasons why I don’t believe that Bitcoin Cash (bcash) is not a sound project in my review of the Coinbase coins. However, I want to expand on one topic in particular.
Bitcoin Cash is touted a “Medium of Exchange” (MoE) and why that makes Bitcoin Cash worthless.
Starting off, let’s list other cryptocurrency that can be used as a “Medium of Exchange”(MoE)
- Bitcoin Gold
- Bitcoin Diamond
- Ethereum Classic
OK, I hope you get the point, I can’t list all the coins here, there are almost 1000 different coins claiming to be a the best “Medium of Exchange”. For a complete list checkout Coin Market Cap.
What features does Bitcoin Cash (bcash) have that ANY of these coins don’t?
- Does Bitcoin Cash (bcash) have the lowest transaction fee?
- Is Bitcoin Cash (bcash) accepted by more merchants?
- Does Bitcoin Cash (bcash) have fast confirmation times?
- Does Bitcoin Cash (bcash) allow anonymity?
- Is Bitcoin Cash (bcash) the most censorship resistant?
In summary, Bitcoin Cash (bcash) is a clone of Bitcoin with no advantage over any coin that is not Bitcoin and it’s easier to censor, block and outlaw.
With so many coins working to own the “Medium of Exchange” feature; there is bound to be competition, new technology and possibly a defact-o “winner” in this area but there is no reason to value Bitcoin Cash (bcash) any where near the value that we see today. It’s simply unable to standout from any other”Medium of Exchange” coin with the exception that it is co-opting the Bitcoin name.