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RE: The Next Phase of the Cryptocurrncy Bull Market Is Beginning

in #cryptocurrency7 years ago

Really great write up. I've been thinking for the past few days how much Bitcoin Cash seems similar, from a technical perspective, to the original Satoshi vision (increase blocksizes as needed to keep the mempool free, "digital cash" for quick/cheap transactions, security built into each block, not pushed off to some other layer, etc). I try to avoid all the personality drama involved and just focus on the technical realities and what miners are choosing with their hashing power. That said, your write brings another interesting perspective in terms of needing a "world reserve cryptocurrency" of sorts where people can price every other asset against. I wonder, is this just a temporary phase as people figure out the new paradigm of money as language? What if we don't need a pyramid structure but evolve to a free-flowing dynamic system like language? But I guess even in language we need base concepts like nouns, verbs, adjectives and adverbs.

The comparison you make to litecoin is a good one. Just as some may argue Bitcoin Cash is closer to the original digital cash vision, the same might be said for litecoin. I've always thought of litecoin as a silly copycat, but maybe that was short-sighted.

Again, great write up. Thank you.

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Luke,

Thanks for the comment.. and FWIW I agree with you that we may not need an Exter's Pyramid in Cryptos in the future... but, for now, we've been trained to view money this way and the infrastructure and inertia of perspective will likely create one in this cycle.

Now, the next cycle? who knows? Unfortunately, I don't think I'll be around to see that....

I think Bitcoin Gold has a real chance to become a complement to Bitcoin if the devs are honest about their intentions because it is a real fork of the original mempool. It's my dark horse because of all the things this article uncovered while writing it.

Interesting. Maybe I'll have to look into that more, but from what little I saw, Bitcoin Gold seemed like a not-well-organized initiative.

I'm only speaking in terms of its similarity of attributes to Bitcoin itself. As for those behind it... well, that's something, as you say, to keep an eye on.

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