Recently bitcoin.com made a PSA stating that in their opinion BCH is the real Bitcoin. They based that on the recent turmoil caused by segwit2x and factors such as the increasing transaction times and costs of BTC. Assuming the points they make in this article are correct, the following question is raised:
Is it possible, that BTC will always be more popular because it has a “name” that is better known, thus resulting in the whole crypto-market eventually collapsing?
If you examine the differences between Bitcoin core(BTC) & cash(BCH), it is clear that at this current point BCH’s functions are closer to what Bitcoin was meant to be (cheap/fast transactions, etc.).
When I bought BTC, I was promised a quick and affordable method to transact. Instead, I got a coin that increases in value based on speculation without being able to substantiate its increase in value by providing what it promises it is meant to do.
BTC transactions right now are quite expensive, and they can take few hours up to a whole day in my experience. That is the definition of a bubble; prices increase significantly, without the underline asset’s real utility/future returns value matching that increase.
On the other hand, BCH has offered all that BTC initially promised from its first month it was released.
By examining modern marketing and psychology theory, it is easy to pinpoint some ways of how brand names work in the contemporary world, and by extension how the popularity of BTC and BCH can affect their prices. It is notable that often a better known “name” for a product, prevails in sales over a much better in quality that is not as popular.
The average Joe will not do research that is sound enough to distinguish as to which is the better option. Therefore he will invest in whatever is more popular and accessible, BTC.
The whole idea is very worrying which it produces some disturbing scenarios for crypto-market’s future
THIS IS AN OPINION FROM STEFANOS AND NOT AN INVESTMENT ADVICE