On Wednesday, the digital entrepreneur Kim Dotcom took to Twitter and talked an awful lot about the stark differences between bitcoin fees and bitcoin cash fees. While tagging Tesla’s Elon Musk in the thread, Dotcom explained that more than half the payments in the world are under $10 and the Bitcoin Cash network is “serving the mass market, [and] not just the 1%.”
Kim Dotcom: Bitcoin Cash Serves the Mass Market
On March 24, the cryptocurrency community was ecstatic to hear about Tesla accepting bitcoin (BTC) for payments. Following the announcement from Tesla’s Elon Musk, the founder of the now-defunct file hosting service Megaupload, Kim Dotcom took to Twitter to discuss the situation.
Dotcom has recently been promoting bitcoin cash (BCH) a great deal, as he believes the crypto asset offers a sustainable peer-to-peer electronic cash system. Bitcoin.com’s newsdesk interviewed Dotcom in mid-January and he told us his plans to “accelerate” BCH adoption. After the interview, Dotcom published a descriptive website that shows the benefits of leveraging BCH.
After the Tesla announcement, Dotcom explained how fees on the BTC network are both unreliable and unsustainable for certain payments. “Try and buy a Soda with bitcoin,” Dotcom said. “[The] median fee $8.92 [and the] bitcoin cash median fee is $0.001. Over half of all cash payments worldwide are under $10. BCH is serving the mass market, not just the 1%,” Dotcom said, while also tagging Tesla’s Elon Musk in the post.
Of course, a number of BTC maximalists disliked Dotcom’s statement, like the owner of bitcoin.org, Cobra who insisted that an $8.92 fee is negligible when you’re buying a car. However, the BCH proponent David Bond quickly responded to Cobra reminding him that BTC fees are always changing.