.VitalikButerin described BitcoinCash as a failure $BCH
has admitted that Bitcoin Cash ended up being “mostly a failure” in a lengthy Twitter thread that takes a retrospective look at his earlier predictions.
Today, I would call BCH mostly a failure. My main takeaway: communities formed around a rebellion, even if they have a good cause, often have a hard time long term, because they value bravery over competence and are united around resistance rather than a coherent way forward.In one of his tweets, Buterin writes that the leading Bitcoin fork was focused on being a protest movement formed out of a rebellious mindset, thus lacking a coherent way of moving forward.
Bitcoin Cash was launched in August 2017 as an alternative to the world’s first cryptocurrency that is capable of supporting higher transaction volume and lower fees because of its bigger block size. After Bitcoin Cash enjoyed initial success and managed to surpass Ethereum by market capitalization in mid-November 2017, Buterin tweeted that the contentious fork had emerged as a “legitimate contender” for the Bitcoin name.
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