Elon Musk responds to Kim Dotcom’s criticism of BTC Fees

Kim Dotcom criticizes critiques BTC charges whilst discussing Bitcoin Cash
  • Kim Dotcom generally endorses the proposal of Bitcoin Cash (BCH) a great deal
  • He stated his plans to escalate the acceptance of BCH adoption in a recent interview
  • Kim’s major argument remains that charges on the BTC network are both inconstant and unviable for specific payments

On March 24, the cryptocurrency space was overjoyed to acknowledge Tesla’s recent announcement about accepting payments in the form of Bitcoin (BTC). After Elon Musk made the announcement publicly, the founder of Megaupload, the now-defunct file hosting facility, Kim Dotcom used his Twitter account to analyze the respective situation.

Kim Dotcom’s journey with Bitcoin Cash advocacy

Kim usually endorses the proposal of Bitcoin Cash (BCH) a great deal, as he thinks the crypto asset provides a viable peer-to-peer electronic cash structure for its users. In an interview with news.Bitcoin.com, Kim stated his plans to escalate the acceptance of BCH adoption. Further, he also issued a descriptive website that highlights the perks of leveraging BCH.

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After the Tesla declaration, Kim argued that the charges on the BTC network are both inconstant and unviable for specific payments. He even remarked an exclamation asking the users to try buying a soda with Bitcoin. Kim further explained that the median fee stands around $8.92 whereas the bitcoin cash median fee stays at $0.001. More than half of all cash transactions worldwide are below $10. Thus, Kim concluded that BCH is merely helping the mass market rather than just the 1%. He also tagged Tesla’s Elon Musk in the respective post.

Kim Dotcom’s Twitter saga

Of course, various BTC advocates disliked Kim’s statement. For example, the bitcoin.org owner, Cobra emphasized that an $8.92 fee is trivial when you’re purchasing an asset like a car. However, the BCH supporter David Bond quickly entered the ongoing discussion with Cobra. He reminded Cobra of the volatile nature of BTC fees.

Elon Musk gave an affirmative reply to Kim’s Criticism, where he suggested that the latter had a fair point to make. When commentators of Kim’s opinion inquired about the supposed scaling solution, the Lightning Network, the founder of the content monetization application responded further.

Kim stated that Satoshi didn’t visualize Bitcoin as a fresh section of banks managed by the same corrupt power systems as our present-day financial system. Custodial solutions, he added, such as Lightning will not change our broken system. Customers should directly control the solutions to their digital money. 

The digital entrepreneur acknowledged the queries of multiple people, and he wholeheartedly thinks that BCH holds the potential to assist both medium exchange advocates and store of value enthusiasts. Kim concluded that Bitcoin Cash is developing into mass adoption with fresh killer applications and large vendor ecosystems.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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