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RE: 2018 - The Year It became Too Late for Bitcoin
Hello @edumurphy
I did have interest in bitcoin until I ventured into it n the transaction fees was about a big scoop of what I had. I just gave it up and fell totally in love with steem.
Aha, thanks for the new idea to try ETH and Dash. Bless you.
Same here oooooo. Yes, ETH and Dash rock for now. Sooner or later, they will run into the same issues BTC is facing but they are currently doing a better job of staving them off.
then the problem seems to stem from proof of work technology than from the coins themselves. Miners dont accept lower trans fee when traffic is high.
The problem with all systems that involve human decision-making is they orient around what they incentivize. Proof-Of-Work encourages making transaction fees as high as possible so that inevitably happens. Whether its a miner conspiracy or just a miner standalone complex, the end result is the same. The technological limitations of proof-of-work make this the most beneficial action they can take for themselves.
Which I guess is my long-winded way of agreeing with you 100%
Given the massive environmental and energy-usage impact of POW, I also see 2018 as the year that Proof-Of-Stake takes over and POW is relegated to history.