Topic: Bitcoin Atom Is Still Progressing (Read 107 times)

I don't know how many people have heard about Bitcoin Atom, but it's kind of a restoration of what Satoshi intended as a decentralized currency. BCA atomic swaps allow you to trade between other major coins without an exchange, so you don't have to worry about their getting hacked or otherwise making your funds disappear.I've been following the Telegram chat since the beginning, and the problem so far is the team is very small, all about developing, and doesn't understand or care about what people are saying about BCA. I think they are just really confident, but they offered a 1:1 BTC to BCA swap at the hard fork, and anyone who took advantage of that pretty much got totally rekt. That was mistake number 1.

Another problem is Yobit is the only exchange that has BCA, but it is only token/futures. Their BCA wallets are in "maintenance" and probably will stay that way. Their price for futures has hovered around $15 for a few weeks, but OTC trading is at about $4-$5 right now. There is talk of other exchanges listing it, but just talk so far. This is probably because BCA stands to become a defacto exchange of its own that lets you sidestep exchanges when trading between different coins and avoid excessive fees, delays, and security worries.

The anonymous team is very small and seems to be taking its time to get it right. This also makes it the perfect time to buy BCA. GUI atomic swaps were supposed to happen this week, but didn't. Lots of fud, but the devs say they are just trying to get the GUI perfect. There's not really much reason for fud because atomic swaps are confirmed already working and bulletproof. There just isn't a GUI for atomic swaps out yet, so it's not like there's any fundamental problem, just too few devs working on it. This is awesome for buyers because the miners are getting screwed. With no exchanges yet, and the GUI delayed, the volume is too low to pay their electric bills, and they are selling dirt cheap. Coinomi wallet is the ONLY wallet. GUI wallets should be out soon though.

When the GUI wallets go live and people see they can buy Etherium or Litecoin without messing with an exchange and all the drawbacks they entail, I can't imagine this coin will not multiply its value multiple times very quickly, considering the starting price. From there, yeah, I think it will go to the moon at some point and maybe not too far in the future. For me, the question is how much do exchanges worry about it?

Atomic swaps are really only the first stage. It's Segwit enabled, and lightning network is I believe the next thing the devs are turning their attention toward once GUI atomic swaps go live. Lightning network will allow people who trade once together to then trade in a trustless environment back and forth off-chain from then on, so this is going to be really fast between the two parties and not bog down the already faster network with their trades, either.

Maybe the most revolutionary thing about BCA is its hybrid consensus model. The tech is disruptive, but by the numbers it's going to look like sh*tcoin to a lot of investors at this point, but the devs don't seem to care about the talk and are taking their time to build something that will be able to slug it out with the other major coins. The whole point of Bitcoin in the first place was to give the power to the user and avoid the perils of centralization, which we're seeing with exchanges. Exchanges are also vulnerable to being influenced and regulated by governments, so BCA pretty much takes cryptocurrency back to the roots of its true value. It may in fact be a good thing that it has a low profile so far because it is disruptive tech, and a lot of people don't want to be disrupted. Also, it gives small investors like me a chance to get in while it costs next to nothing.