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RE: Bitcoin (BTC) - Analysis LONG TERM
I would get out of bitcoin, and switch to alternative currencies. Bitcoin has a lot of network congestion, causing the transaction times to be very slow. It currently costs $15 to transfer bitcoin to another wallet. It's based on 2009 technology, that has a lot of problems. It takes the worlds most powerful computers to mine efficiently. I think it will be replaced by something better.
If the developers can successfully improve bitcoin with faster and cheaper transactions with side chain tech etc then I don't believe we're gonna see any other coin come near Bitcoin. It has a huge first mover advantage that will be hard to beat. However there will be other coins/platforms that have other functions that could get as big as bitcoin in terms of price.
Really? I don't think it does ... the fees are greatly lowered recently, and the transaction times are actually quite quick. Bitcoin also has the best developers working on it, and is the most established. As Bitcoin goes, so do alternative currencies. I wouldn't be so quick to ditch bitcoin
I agree to @zhangster
No matter what, BTC is still the primary locomotive of the crypto rail. It may get secondary after some time, but not now. It is still to early to write off the BTC.
Bittrex is going to open USD markets but this is one minor thing. When it will be available broadly and when people will be able to buy any coin they want without BTC, than we may say that BTC can pull back and give up the BOSS title.
Why BTC is not destined to die soon? Because:
And yes, one more thing:
Banning credit card purchases makes me to think, that mining is still the best way to get cryptos.