RE: Is crypto space MATURE ENOUGH for another BULL RUN? Let me share my concerns ...
As a a developer, I always evaluate a blockchain project from a technical perspective first. Maybe that's right, maybe that's wrong, but doing so and being guided by marketing I've been pretty much able to avoid those project that surge in popularity overnight and then they fall to the ground the very next day.
Regarding Bitcoin, I've always been more cautious than probably other people in crypto that talk with, and that's primarily because from a technological standpoint, Bitcoin is bland to say the least, if not even straight up unattractive.
Regarding the market I'm once again a little more conservative in my views and I don't think we'll see a major price increase this year and that's due to the economic backlash that the Covid-19 restrictions had. I think that once there's a major decrease in the number of cases, we'll see a bullish response from the crypto market, though as you've already said, I don't think either the projects or the community is mature enough for this yet.
Dear @alexbalan
Thank you for your amazing comment and for taking the time to read my publication and share your view with me.
Is that how you see BTC? Interesting. Would you mind to elaborate?
Perhaps you would be also interested in checking out my recent post:
BLOCKCHAIN FOR DUMMIES - what would be your explanation?
Have a great monday ahead :)
Yours, Piotr
Hi Piotr, when I said that Bitcoin seems bland in terms of their technological advancements I was referring to the fact that the chain is so big and important that it can't risk adopting any exciting new feature. Take for example Ethereum, they are starting the transition to PoS, which is cool and has numerous advantages over PoW. Since they are the second biggest chain they also can't afford mistakes so they have a 3 years plan to transition, right?
Bitcoin however will probably never transition to anything more performant than PoW because the community will oppose it. And by the community I mean all the companies that poured millions of dollars in Bitcoin. Such a drastic change won't ever happen because investors value stability more.
Honestly I'm glad that Ethereum started transitioning now, because they'll soon become the new Bitcoin in my opinion and processing only 12 transactions per second would have been an absolute nightmare for them.
Hi @alexbalan
I only realized that I've never read your reply (somehow I didn't notice your comment) till now.
I don't think it may happen. For reasons you've mentioned above. Bitcoin will be still a store of value, and ETH isn't considered store of value (neither is any other alt). Wouldn't you agree?
Thanks for always being so responsive buddy
Yours, Piotr
I see none as a store of value, they don't seem to behave like gold for example. In my original comment I was actually thinking about Bitcoin and Ethereum as platforms rather than coins. What I meant was that Ethereum, in my opinion will become the number one platform for anything crypto and it will see a lot of attention from companies. I also think that beginners will start with the Eth platform rather than Bitcoin when they first enter the crypto space. I think that this is already happening to some degree