Emil Oldenburg, co-founder and Chief technology officer of Bitcoin.com, which is one of the world’s largest Bitcoin websites, has expressed his extremely sceptical concers about Bitcoin cryptocurrency and its future in an interview with Swedish tech website Breakit.
I would say an investment in Bitcoin is right now the riskiest investment you can make. There’s an extremely high risk.
Co-founder and CTO, Bitcoin.com
Mr. Oldenburg claimed that he had recently sold all the Bitcoins and switched to Bitcoin Cash due to the riskiness of Bitcoin investing, issues with Bitcoin high transaction costs, lead times, and lack of Bitcoin market liquidity
My prediction: After January 2018, BTC will seldom be used for commerce and most will adopt BCH or other cryptos.
— Emil Oldenburg (@emilolden) 16 December 2017
Co-founder of Bitcoin.com has also wrote in his twitter account that in 2018 Bitcoin will rarely be used by commerce and the users will most likely switch to Bitcoin Cash.
Emil Oldenburg even stated that Bitcoin might become a totally unusable cryptocurrency as it is possible to make a very limited amount of transactions per second in the Bitcoin network, which depends on the formation of the memory “block size” that store the transactions, and makes Bitcoin illiquid. On the contrary, he highligted the 8MB block size of Bitcoin Cash, which lowers fees for transactions.
At the moment of press, these are main market parameters of Bitcoin:
- Average price: $18 276,50
- Marketcap: $306 156 962 100
- 24h volume: $16 323 600 000