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#5: Tesla Buys Bitcoin &

Why Cryptocurrencies

Wednesday, 10th February 2021

Following Bitcoin Cash on its rise to global reserve currency.

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Bitcoin Cash (BCH) Stats Update

  • USD $484.04 or 0.0108 BTC / BCH https://coinmarketcap.com/

​

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Tesla announces 1.5B BTC purchase and acceptance

https://news.bitcoin.com/elon-musk-supports-bitcoin-btc-on-verge-of-broad-acceptance/

Trojan Horse for BTC?

  • Obviously good for crypto as a whole
  • Huge surge in price to ATHs above 47 000
  • Fees also surged to $14+
  • 1st merchant adoption in years
  • Will BCH, DOGE be next?

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My Prediction: BCH next crypto Tesla buys/supports

https://www.reddit.com/r/CryptoCurrency/comments/lea1eh/elon_musk_there_is_a_good_chance_crypto_is_the/

https://twitter.com/elonmusk/status/1359400199521783809?s=21

  • Timeline: 18 months
  • Plus maybe DOGE for the memes
  • Elon is starting to figure out how to take crypto global
  • “There is a good chance crypto is the future currency of earth”

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My Prediction: BCH next crypto Tesla buys/supports

https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm

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Bitcoin struggling in the ecosystem

https://www.reddit.com/r/btc/comments/lgq20j/get_used_to_a_lot_more_of_this/

With fees at $14+,

businesses have to deal with the outraged, confused etc. users in customer support when “currency of the future” just doesn’t work. Plus devote engineering resources to mitigate it.

In future, they will actively recommend against Bitcoin

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Network performance under peak

https://txstreet.com/v/btc-bch

  • BTC fees $4 > $9.46, later to $14 and $20
  • BTC Broadcasted > Confirmed (increasing backlog + fees)
  • BCH fees $0.0001
  • BCH Confirmed > Broadcasted (everything getting confirmed)
  • BCH Confirmed > BTC Confirmed

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BCH transactions rocket past BTC

https://cash.coin.dance/blocks/transactions

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Adoption & Online Crowdfunding

https://www.reddit.com/r/btc/comments/lgets5/i_quit_corporate_life_during_pandemic_and_moved/

https://www.instagram.com/jeffkim1111/

https://www.instagram.com/amandaramos_ce/

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Adoption & Online Crowdfunding

2013, 22 BTC worth $22k at the time

https://www.theverge.com/2013/12/1/5163926/one-college-football-sign-netted-22-bitcoins-for-enthusiast

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Why Cryptocurrencies

https://whycryptocurrencies.com

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bitcoincash:qre8lu4lasfn9kaxgaayhslh6wz2hvqtpvl2tgf75l

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