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RE: "We decided to move on to superior technology"
How can bitcoin ever evolve enough to deal with Zero fees and infinite transactions per second. It seems it is evolving into a digital version of gold where there will be few transactions. A trusted hedge but not one that is very useful for paying for groceries. Bitcoin remains the exit and entry point between the alt world and fiat currencies. Perhaps that is needed, but even that is frustrating when the market moves as much as it does at the moment. It is frustratingly slow.
Andreas Antonopolus has stated in his presentations about Bitcoin, that it was in fact looking to establish itself as a global reserve currency. That seems to have happened already on some level, at least in the world of cryptocurrency. As you have pointed out, if you are looking to buy altcoins, you must first purchase Bitcoin to trade for them.
I believe that buying groceries, cups of coffee etc. will be the function of altcoins. It won't happen overnight, but the altcoin community that works to demystify cryptos and to simplify their use for the larger population will be the coin(s) that will be adopted for everyday trade.
Really, you are just going to spew out things like zero fees and infinite transactions with a straight face? You are acting like there aren't consequences and trade-offs to having those things. I haven't yet researched IOTA, but I know intuitively that there is ALWAYS a trade-off.
I haven't seen a full comparison of all the coins, but I haven't heard of any altcoin advertising slower or more expensive than Bitcoin. Whether its IOTA or one of the other better known alts you don't have to look too hard to find cheaper and faster. Bitcoin like the apple iPhone was revolutionary but competitors gained ground and when they are better/faster/cheaper then market leadership changes at least for the transaction space. Bitcoin has far more trust than anything else and perhaps that is enough to hang onto the reserve title. As you say there are always trade offs. Bitcoin is trusted because of its established architecture and the use of resource intensive mining but that comes at a cost that can be optimized but not removed. Tinkering with the code to make incremental improvements may undermine the one true advantage Bitcoin has ie trust but is unlikely to beat the rising competitors on speed or cost. I like and own precious metals. Gold and silver coins are more practical than bars but I still dont use them for buying stuff.
Great points.
"It is frustratingly slow." The market or transactions?
Sorry transactions. For instance Steem is very attractive right now, but to buy it using Fiat currency you still have to go through someone like Coinbase and Bitcoin. That can take days and opportunities are missed. Hence frustration. Keeping $ on the exchanges may be the answer for now but we are generally coached not to leave much sitting on the exchanges.
Make sure you are getting coached from people who understand your goals and objectives. General coaching is generally useless. Except for the totally mundane - drink more water - it is healthy and you probably are not drinking enough
Alright Dave I will bite and follow you to see who your coaches are and what they have to say. The reason that I am here in the first place is because of Palm Beach Research Group.