The Hong Kong vending machines avoid Bitcoin as a payment option and chose Bitcoin Cash instead, according to Roger Ver. In today’s latest Bitcoin Cash news, we take a closer look at the report.
After Ver posted a video of a Hong Kong Vending Machine that accepts bitcoin Cash and not Bitcoin, the popular trader Tone Vays claimed that Ver paid for the vending machine to avoid accepting Bitcoin. Of course, Ver denied such claims. Roger Ver, who is an outspoken proponent of BCH, posted a video on Twitter of a Hong Kong vending Machine that also accepted Litecoin, Binance Coin, and Ethereum but not BTC. He believes that this is because of the high fees and network traffic.
The fees and network speed were a main point over the recent years among the crypto community as multiple solutions such as the Lightning Network aims to help Bitcoin scale. Tone Vays responded to the video and accused the BCH proponent of paying the vending machine’s hosting. He believes that the machine hosted no other BCH transaction:
“Real question is how many transactions have they processed since that demo and what are they doing with the BCH and ETH.”
The trader Willy Woo also commented:
“This was my first thought also, it’s common practice for lower-tier altcoins to pay to get access to ATMs, which begs the question of how centralized these projects are.”
Over recent years, Ver debated Vays multiple times as the first takes the stance that Bitcoin is not enough like digital cash. Ver commented:
“I’ve invested in a lot of things, but to the best of my knowledge, I’m not an investor in any way for those vending machines, and I don’t even know the people behind it. I suspect the real reason they don’t accept BTC is because BTC fees are too high, and the payments are too easy to reverse.”
According to other crypto analysts, Bitcoin Cash crypto doesn’t look quite healthy as we can see the charts after the BCH first-ever halving. The underlying Bitcoin Cash network took a strong hit after the April halving as Yassine Elmandjra, a popular crypto analyst at ARK invest, as BCH sustained a huge blow to what the analyst said he was ‘’genuinely surprised that we haven’t seen a large scale attack yet.’’
Bitcoin Cash is not looking healthy:
-Hashrate down 30% since halving (& only accounts for ~2% of SHA256 hash)
-Economic throughput at all time lows
-Fees are .05% of miner rev (<$100/day)
-Theoretical 51% attack costs <$10k/hrSurprised we haven't seen a large scale attack yet
— Yassine Elmandjra (@yassine_elman) May 23, 2020
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