BTC = AOL Of cryptocurrency---- maybe?

BTC = AOL Of cryptocurrency---- maybe?

I hope BTC doesn't become like AOL... the first in it's industry but not the best. This hardfork is a step in the right direction but it is almost too little too late.

Cryptocurrency is an awesome currency. The future of mankind. Bitcoin is the mother of this currency but no matter how awesome the exchanges or great the ROIs, the root of blockchain currency is CURRENCY.

Define:
Currency: 1) a system of money in general use in a particular country.
2) the fact or quality of being generally accepted or in use.

I love the news and supposedly financial experts like James Dimon and Kenneth Rogoff who throw insults that belong in grade school at cryptocurrency. These experts have no understanding of blockchain technology. They use their notoriety and time in the spot light to say words like "fraud" and Kenneth stating bitcoin will collapse because "anonymous transactions", when hard cash is more anonymous than any transaction I have done on coinbase. (he doesn't know what coinbase is or what most Americans use to hold BTC and spend it... ignorance)

The saddest aspect of these middle school insults is they scream IGNORANCE and FEAR.

There are many reasons to say why Bitcoin will fail. I am in love with bitcoin and see it as the first and best cryptocurrency. But after my transaction 22 day ago from this writing... I fear it is like AOL. I purchased an online service from a company for $10 worth of BTC via coinbase. This was the first time I have used BTC to buy something.

After my network fees and other fees (still not sure what the other fees came from, maybe coinbase). My total spent was $12.27 and the transaction took 17 minutes for the first confirmation. So for the benefit of using bitcoin I got to pay a 22% + Fee and wait an extra 30 minutes for my service to be delivered. Why isn't anyone talking about this on CNBC or CNN? I hope they never start to research and talk about the real weaknesses and growing pains in cryptocurrency but this is a serious issue.

It reminds me of AOL double charging my credit card for monthly service for 4 months straight... they were aweful and they were replaced. So Segwitx2 is good, allow transactions to incesae from 1mb to 2mb. But this needs to 10 times or even 100 times larger to keep costs down and to allow this bitcoin thing to survive. If you can't meet the demands some other currency will.

This hardfork is speculated by some as a good way to run the market up or others speculate the hardfork as a way for some childish coders spilt off for a boost in their ego. But the fact is this is no longer a useable currency on the internet. It takes longer and costs more.. that is worse than the old system. Plus I use coinbase which has my driver license and the last 4 of my social. So everything claimed by BTC (cheaper, faster, more secure and anonymous)is not valid at this time. Only 1 out of 4 are true at this time.

Atleast we have secruity... well unless you consider.

1. 51% attack
2. Finney Attack
3. Double Spend attack.

but those weakness are for another day.

Good enough isn't good enough when you can be better. And better isn't good enough when you can be the best. CHOP CHOP BTC! CHOP CHOP!!

Please let the people's currency thrive and survive. But we are way behind on this BTC!! CHOP CHOP!