The Chief Technology Officer and Co-founder of Bitcoin.com leaves Bitcoin as useless.

The words of a person like Emil Oldenburg are weighty words, and more so when he drops them as harsh as he has done by saying that he completely leaves Bitcoin to switch to Bitcoin Cash since he sees Bitcoin as useless and without a future as a tradable currency due to its high commissions and high latency in operations.

In an interview with breakit. It was said:

“An investment in Bitcoin right now I can say that it is the riskiest investment one can make. It is extremely risky. In fact I have recently sold all my Bitcoins and switched to Bitcoin Cash. "

Not only he is moving away from Bitcoin but his entire company since in the face of the visible conflict of interest between Bitcoin.com and his own opinion, Emil has explained that the Bitcoin.com wallet is also moving away from Bitcoin to focus more on Bitcoin Cash , and they have even stopped developing services for the Bitcoin network to focus on developing for Bitcoin Cash.

Bitcoin Cash vs. Bitcoin

Bitcoin.com is a website that offers wallet services, education about Bitcoin and cryptocurrencies, news and gambling with Bitcoins. Emil's statements are not surprising since on the same website they have an article entitled “BitcoinCash is Bitcoin"In which I quote:

"Bitcoin Cash (BCH) is the only fork of Bitcoin that resembles a natural continuation of the original invention of Bitcoin."

Two points to compare between both currencies is a higher speed and lower cost per transaction that Bitcoin Cash has compared to Bitcoin. Based on statistics, the transaction costs of Bitcoin went from 0.20 cents to 22 dollars today, which is a real nonsense. Emil Oldenburg further said that the problem with Bitcoin transactions comes during the recording of the transaction on the blockchain causing a bottleneck resulting in a highly risky currency.

“There is a limited amount of transactions per second that you can do on the Bitcoin network, which in part depends on the“ block size ”of the memory that stores the transaction on the blockchain. This bottleneck makes it a highly risky and illiquid cryptocurrency… the old Bitcoin network is as good as it is unusable. "

As a personal opinion since I usually do transactions with Bitcoin and I have suffered high commissions (which the first time reached 12 dollars) or delays of even days to see the transaction reflected. Your statement does not sound crazy to me, if it is true that Bitcoin It is a benchmark over other cryptocurrencies but today you can do business and payments with others such as Dash and Zcash, which are the other currencies that are usually more reliable in terms of time and costs per transaction (not counting that you can have your own debit card by Zcash).