What The Bitcoin Cash Situation Has Taught Me by kyriacos

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· @kyriacos · (edited)
$43.37
What The Bitcoin Cash Situation Has Taught Me
<p><div class="pull-right">
   <img src="https://news.bitcoin.com/wp-content/uploads/2017/07/Fork-Watch-Bitcoin-Cash-Support-Grows-as-August-1-Draws-Near.png">
   <center><a href="https://news.bitcoin.com/wp-content/uploads/2017/07/Fork-Watch-Bitcoin-Cash-Support-Grows-as-August-1-Draws-Near.png"><sub>A fork is a diversion for an idea that is becoming obsolete</sub></a></center></div></p>
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<p>If you have been observing what is happening over the last few days in crypto it should come to no surprise to those who understand basic realities about the crypto markets.</p>

<p>For those who haven't been following as much, here how it went down. The highly centralised Bitcoin went into another charade with Bitcoin Cash. With the amount of money being exchanged in minutes one can easily understand how illiquid the market is and how immature the state of cryptos. A single call about a fork makes billions move around. A handful of people have more concentrated power than the aristocracies of the 14th century. </p>

<p>Don't get me wrong. I do believe Bitcoin will recover and even climb higher but meanwhile projects with fundamentals (and not just hot ideological air) are going to prevail. In the coming months, people will understand that Bitcoin is not the God they once thought it was. Once institutional money come flowing and once those Bitcoin Gods start diversifying (and thus reducing their power) we will see another epoch in cryptocurrencies and blockchain technologies that would make the current state seem primitive. </p>

<p>The good news is that we are nowhere near a bubble yet. The bad news is that people have to diversify into projects that go against their dreams about decentralisation and see that Satoshi's original vision was just that — a vision that fell victim to basic human nature. Reality doesn't care about ideologies, visions and utopias. Reality only rewards those who embrace it.</p>



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@alexsandrbrat ·
great post, come and subscribe to me @alexsandrbrat
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@isacoin ·
$0.04
I dont know if you are aware but bitmain had the majority of mining for bitcoin cash since creation,
at the beginning of the fork funds might have been more spread out but control in bitcoin cash is fully centralized  upgrades decided by abc majority mining and coin holders

### Bitcoin cash richlist 
 ![](https://steemitimages.com/DQmZKzYkD1kdEqE7ia4hmXvPxMnW68gsut6CmC1J8qgFeZX/image.png)


VS

### Bitcoin richlist 

![](https://steemitimages.com/DQmaEPXKrkYYQMcjwmhrV1sJBftbdgVGhsAAwMj8TQ84TQH/image.png)
👍  ,
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@kyriacos ·
What I am certain is that this is not the future of crypto.
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@isacoin ·
what is not the future?
either or?
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@thatgermandude ·
never trust a chart that you did not manipulate yourself. BTC holders might be aware that it might be cool to **look** distributed and therefore split their wallets into small ones.
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@isacoin ·
same for any wallet not just bitcoin

ease of mining and with majority in antpool proves bitcoin cash is heavily centralized recent gains show extent of control
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@rlt47 ·
Certainly, as part of the "game theory" leading up to the would be bitcoin 2x hardfork, there has been speculation that the same 'whales' could use that momentum to to drive Bitcoin Cash up...
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@thatgermandude ·
lol I thought I just wrote a unique piece were I said that my biggest take away from the Segwit2X and BCH  FUD is that the BTC community is full of shoot.

"Too big to fail", "Storage of Value", those argument showed that they dont really want a new currency but just another gambling/speculation opportunity.
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@cryptonfused ·
Couldn't agree less

>A vision that fell victim to basic human nature. Reality doesn't care about ideologies, visions and utopias. Reality only rewards those who embrace it.
👍  
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vote details (1)
@mannyfig1956 ·
Great job bro thanks for sharing this post. you have my upvote@mannyfig1956
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@eric-boucher · (edited)
$3.09
Succinct and to the point! Potent text, short and sweet for the ones who have had the chance of coming across it.

I can only conquer with every line of your text, my favourite being:
>*"Once institutional money come flowing and once those Bitcoin Gods start diversifying (and thus reducing their power) we will see another epoch in cryptocurrencies and blockchain technologies that would make the current state seem primitive."
><sub>By: @kyriacos</sub>

I strongly believe that we are still in the very infancy of cryptocurrency paradigm. As time goes by and people become more and more informed about Bitcoins, a lot of illusions and hype will fall off to the side and make people inquire deeper about crypto-currencies & blockchain systems. From there, they will come to realize the existence of much stronger and potent beyond belief cryptocurrencies. At this point, we are going to witness a tidal wave in the digital world and it is the financial world that we live in right now that is going to see itself being quasi-wiped out. Only fragments of it will be trickling into our cryptocurrency paradigm economy. Thus, as we say, I think you are on the money with your prediction. Bitshares, EOS, HERO, STEEM and the likes will become giants in what we can only consider the blink of an eye in terms of "economical time span".

Excellent work, as always, thanks for sharing and giving us the chance to reflect and share on this topics. 

Namaste   :)
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vote details (14)
@aamjad ·
nice post
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@drakos ·
All points valid.
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@harshallele ·
and when bitcoin eventually falls, everyone will be very eager to come out and say that "see? cryptocurrency was hot air all along!!!". I just hope that all the others don't go down with bitcoin.
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