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RE: Bitcoin (BTC) Morning Update: An A,B,C Expanded Flat Correction to $6,600...What's this? Find out in this blog!
Blockchain will prosper. But Bitcoin won't. Not with those Tx fees or Tx time. I see Bitcoin as a prototype/MVP. Think of the Original DOOM video game. It set the groundwork for modern FPS like COD, Battlefield, TitanFall, Overwatch etc. But almost nobody plays the original DOOM these days.
btc is not and was never meant to be 'the spending everyday transaction layer. think of btc as your vault layer.
Are you kidding me! Have you even read the BTC whitepaper?
"A purely peer-to-peer version of electronic cash"
-https://bitcoin.org/bitcoin.pdf
Last time I checked Cash doesn't mean something you keep in a vault. Plus what is the utility of some kind of digital gold. The existence of https://bitshares.org/technology/price-stable-cryptocurrencies/ completly invalidates any form of need for having some form of digital gold. The point is in a world where Dash and Bitshares exist, BTC is just an old relic. So don't be a Luddite.
Technically you may be right and having read the white paper multiple times I agree. But I don’t think bitcoin was supposed to solve all the worlds problems. It was a concept that beat the double spend issue. It was always going to need further development and evolution.
But bitcoin currently has first mover advantage and is the only real crypto with brand/ name recognition outside of crypto circles. It will take a lot to replace it in the short/ medium term.
I don't think BTC will be replaced in short term. Medium term, ETH would be a good pick. ETH has decent coverage and almost every place that sell BTC for fiat also sells ETH. localbitcoins is probably the only exception. There are other alt-coins rising and gaining recognition fast. In the long run BTC would be like the original iPhone which everybody remembers but used by pretty much no one at all.
I agree that beating the double spend issue was one of the biggest of not the biggest achievement of Bitcoin.
Yep
That's not really my point, but thanks. My point being that until we have >50% adoption btc will remain as reigning king. I cannot figure out how to trade dash or ltc in my bts wallet yet... yes a luddite in a world flying at the speed of sound!
What I mean is with the (global) scaleability issue, the original chain and protocol would never do it alone. The original base chain to scale in a decent. way would use continued additional sidechains. Listen to scaling liberty by AA.
Dash volume in BTS is pretty much non existent. Kraken and CEX.io offer Dash-Fiat trading pairs. Binance is a good exchange with low fees compared to other centralized exchanges.