Bitcoin and Bitcoin cash, which is more likely to dominate the future cybercurrency world?

To be honest, I still think that if only choosing from Bitcoin and Bitcoin cash, Bitcoin is more likely to dominate the future cybercurrency world, as Bitcoin has already had a relatively wide base of users and Bitcoin cash just appears. However, in the future, there might be a new and better-designed cybercurrency that are more likely to dominate the future cybercurrency world.

I always feel that there is one major issue in the designs of current existing cybercurrencies that the total amounts of existing cybercurrencies are designed to be fixed and the creation of cybercurrencies is based on the concept of mining, which I believe is outdated for the current and future world economic world. The reason for using precious gold as currency being outdated and unpopular is not because they are not easy to be carried around (as the Gold standard could be a perfect solution for this problem), instead the major reason is that the gold standard is not flexible enough to cope the rapid economic growth. Although the world economy have been growing significantly since the Industrial Revolution, the most significant and rapid economic growth occured after the Second World War, and this was the era when the gold standard collapsed in a world scale. This is because a monetary system with fixed supply cannot effectively encourage more consumption. When the production in the economy grows faster than the new money supply in the economy, the economy will face a deflation, at least a nominal deflation. Bitcoin and Bitcoin cash both face such issue that though Bitcoin cash increases its total supply is there a cap on the total potential supply of Bitcoin cash.

From the reality, it is clear that even Bitcoin holders do not have incentives to spend their Bitcoin on their consumption. Ten years ago, the value of one Bitcoin could pay a nice dinner in a fair restaurant, of course, no restaurant would let you pay by Bitcoin; however, nowadays, the value of one Bitcoin increases sharply and is able to afford a car. As a Bitcoin holder, when you see that the currency you are holding is likely to equal to tens of thousands of times today’s consumption power in the future, you will not use the currency to spend on any thing, as no single investment is better than holding the “cash”. Once holding cash is the best option, the currency will not be spent in the economy, a currency that no one uses for consumption is not a currency by the definition of money, and it will eventually lose its position as a type of currency.

Therefore, the ideal design of a cybercurrency in my opinion is the supply of the cybercurrency is dependent of the real world economic performance.