Stores-of-value aren't "actually used" nor "medium of exchange". Bitcoin Cash fixes Bitcoin, restoring its utility and will cannibalize Bitcoin's market share.
The market doesn't function when people can't transact freely. Price signals get distorted. When the blockchain is frozen, we don't know the actual supply and demand of Bitcoin.
Bitcoin Cash fixes Bitcoin by providing a capacity market, where transactions can cost whatever nodes / miners can compete at.
It's not only vaporware, it's uneconomical. That demo doesn't withdraw Bitcoin - it locks it up. Two transactions for every channel. Lightning Network is just another bank, a third party with fees.
Bank runs are bad when there isn't a full reserve. Coinbase says it has 100% reserves.
Bank runs are how fraudulent exchanges are caught: Bitcoin is self-auditing, and either you have it or you don't, there aren't IOUs or paper receipts.
Fractional reserve banking is a prisoner's dilemma, we all marginally benefit from the status quo of credit/debit/interest, but in a crisis, the first people to pull out win, and everyone else loses.
Bank runs are bad when there isn't a full reserve. Coinbase should carry a full reserve.
Fractional reserve banking is a prisoner's dilemma, we all marginally benefit from the status quo of credit/debit/interest, but in a crisis, the first people to pull out win, and everyone else loses.
So bet $20. Bitcoin can be upgraded to N-bits of resolution in the future - a single satoshi could provide all the liquidity needed in a universe-sized economy.
There is no such thing as a free lunch. FDIC insurance can and will fail in the largest bank run ever.
Banking is a Prisoner's Dilemma, because the first ones to escape get their cash, the middle ones deal with insurance, and the last ones lose everything.
Use always-audited Bitcoin. Readers here have an advantage of being able to understand the underlying technology.