Bitcoin is one of the most talked about topics in the world. The way cryptocurrency giants made a huge impact in the year 2017 and surprised one and all with its growth.
But when the whole world is going gaga over the potential growth of Bitcoin, one of its co-founder Emil Oldenburg is skeptical about the growth plan and the direction in which it’s heading.
Reportedly, Emil Oldenburg has sold all of his Bitcoin and re-invested it in Bitcoin Cash (BCH) instead as he believes that the spin-off currency has a brighter future in store.
“I would say an investment in Bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,” he said in an interview with Swedish tech site Breakit.
“I have in fact sold all my bitcoins recently and switched to Bitcoin Cash.”
“[They] want things this way,” Oldenburg explained. “They see Bitcoin as a digital gold and a technical experiment, as opposed to something you can actually use.”
“Not as long as the network is run by this group of people [in the old network],” he told Breakit. “The solutions will be found in Bitcoin Cash, that’s where I see a future.”
Earlier this year, Bitcoin’s team had diverse opinion on its growth and there were some other internal issues as well which led to led to the creation in August this year of bitcoin cash, which Mr Oldenburg and his business partner, Bitcoin.com chief executive Roger Ver, have been promoting aggressively.
Emil said: “It’s a group of fanatic bitcoin Talibans who themselves do not use bitcoin everyday [who] want it like this.
“They see bitcoin like digital gold and a technical experiment, not something you should actually use.
“It will never be a currency used in everyday life or for people who run companies.
“We have actually stopped developing new services for the old bitcoin network now and focus mostly on bitcoin cash.
“There it only costs 10 öre ($0.02) to send and no waiting times. The only [downside] is that bigger hard drives are required, but it’s not a problem for most.”