In my opinion, it does not matter bitcoin runs slowly, but has a definite purpose, which means I prefer to ride up slowly but not down again, rather than rising quickly but down too drastically, like late last year.
and I think society will be able to compete with bitcoin growth, meaning decentralization will be able to influence society. especially in my country, because in my country, knowledge about technology is still minimal.
Topic: Do you think that other coins move faster? - page 96. (Read 7801 times)
Bitcoin continues to have first mover advantage and wins the perception game. However, altcoins, when backed by a substantial existing business, can move very quick. Check out the ICO for RLCoin, an enterprise solution for loyalty: www.rlcoin.io. The product has traction with 250 clients and partners in Europe and Asia.
In my opinion. the weakness of POW is that it doesn't allow many individuals to join the network with the increases of network difficulty.
So having hashrates controlled by minority of people isn't a good thing, and we need a better solution.
So having hashrates controlled by minority of people isn't a good thing, and we need a better solution.
There is saying that goes something like "Capitalism is the worst system, except for all the others." That means something like, sometimes we just don't have a better solution. POW is bad for the environment, and keeps regular users away from mining, but I can't imagine a better system for security.
I don't know if there will ever be a point where more than a minority of users will be miners, so I don't necessarily agree this this is a problem warranting a solution. Look up the Pareto distribution and you will see that it is universal that the minority of participants will do all of the work and reap all of the reward.
I think the BTC is still the reserve currency.
It may be that some coins move a bit better in the short term, but in the longer term, the BTC is the stable currency.
The crypto currencies will all remain very volatile
It may be that some coins move a bit better in the short term, but in the longer term, the BTC is the stable currency.
The crypto currencies will all remain very volatile
Do you think that Bitcoin has become too slow to compete with the relatively quick alt coins out there? Is it realty competitive to have a slow community rather than a centralised decision making in development?
In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
Othere coins grows faster because its amount is still small. Plus for example the value of coin is equal to 10 cents each. If that coin value became 30cents your money will be tripled right? The reason why bitcoin is growing slower because its value is large enough. That's why it goes up and down to have a balance in cryptomarket.
Possible that there will be coins move faster than bitcoin with respect to the price and popularity but it couldn't be the main coin. To move faster than bitcoin doesn't mean it will be the main coin or the leading coin in the future era. Maybe it can make bitcoin popularity growth but the main role of bitcoin couldn't be.
to compete the speed of transactions of course bitcoin lost by most altcoins out there
but to be popular like bitcoin I'm not sure altcoins out there can be as popular as bitcoin as it is today
Bitcoins is being mined at a slow rate but its difficulty going in a fast upward direction. The amount of Bandwidth from each individual in the project that's holding the client can make the whole network fast/slow. but to be popular like bitcoin I'm not sure altcoins out there can be as popular as bitcoin as it is today
We can actually see this. Indeed in the past few months, bitcoin has become very slow in price growth and very slow in performing its normal functions because of which it can not fully perform the function of a payment facility. Some altcoins, on the contrary, improve and become real competition to it. If bitcoin does not eliminate his own shortcomings, he may well lose his place as a leader. It will be solved in just a few months.
to compete the speed of transactions of course bitcoin lost by most altcoins out there
but to be popular like bitcoin I'm not sure altcoins out there can be as popular as bitcoin as it is today
but to be popular like bitcoin I'm not sure altcoins out there can be as popular as bitcoin as it is today
Do you think that Bitcoin has become too slow to compete with the relatively quick alt coins out there? Is it realty competitive to have a slow community rather than a centralised decision making in development?
In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
Bitcoin is a king of crypto-currency market and all coin are depends on bitcoin.Few days bitcoin down and crypto market down also so without bitcoin crypto market will be dead.Now agian bitcoin price pumping and most powerfull altcoin also pumping but we know that bitcoin pump altcoin dump and bitcoin dump altcoin dump and bitcoin stable altcoin on the moon. In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
Bitcoin is still the number one coin and I would always choose it even if other coins move faster
Do you think that Bitcoin has become too slow to compete with the relatively quick alt coins out there? Is it realty competitive to have a slow community rather than a centralised decision making in development?
In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
Yeah sure. Some coins are actually better investments than BTC, bitcoin isn't the number 1 in that part. But that doesn't make bitcoin incompetitive in the field. That's just futile. BTC is still the pioneer crypto. And it's still far off on being thrown away from that throne. True, come altcoins are better at increasing value, but you're not sure bout the longetivity of that coin. Many altcoins have grown so fast and fall too fast already. But bitcoin already have stable backers and conitnuously growing. I think you're just asking which coins to better profit, and quick money. Investing is all about patience, lad.
Do you think that Bitcoin has become too slow to compete with the relatively quick alt coins out there? Is it realty competitive to have a slow community rather than a centralised decision making in development?
In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
You might notice that other coins are moving faster and can be used now,one thing you have to understand is,if there is a user base like bitcoin,then those coins wont move either,just check the movement after the activation of segwit is taking place and the transaction charges are lower now and the speed is improving,so no more complaints for me here. In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
No, I think Bitcoin still the biggest one, as you can see in the market, bitcoin still in the top one, after that continue with Eth and others
With the current price of btc I dont think that btc is moving too slow, comparing with other coins, btc is still the fastest moving at all.
In my opinion. the weakness of POW is that it doesn't allow many individuals to join the network with the increases of network difficulty.
So having hashrates controlled by minority of people isn't a good thing, and we need a better solution.
So having hashrates controlled by minority of people isn't a good thing, and we need a better solution.
There is saying that goes something like "Capitalism is the worst system, except for all the others." That means something like, sometimes we just don't have a better solution. POW is bad for the environment, and keeps regular users away from mining, but I can't imagine a better system for security.
I don't know if there will ever be a point where more than a minority of users will be miners, so I don't necessarily agree this this is a problem warranting a solution. Look up the Pareto distribution and you will see that it is universal that the minority of participants will do all of the work and reap all of the reward.
The profit for the miners would be the block reward, even if there were no transaction fees (I think?).
Without transaction fees, miners can choose to mine empty block, since it generates the same profits for them.
In my opinion. the weakness of POW is that it doesn't allow many individuals to join the network with the increases of network difficulty.
So having hashrates controlled by minority of people isn't a good thing, and we need a better solution.
As the increasing of capital required to mine, the Bitcoin should as well rise, or else there is no profit for the miners. Will this become price manipulation by miners?
The capital required to mine increases as the difficulty of mining increases. The difficulty of mining increases with the speed at which blocks are mined/solved, which is proportional to (I think) the computational power being put into the network. So, Bitcoin has not traditionally correlated with difficulty otherwise we would be pretty consistently rising without the significant dips we've been seeing. The profit for the miners would be the block reward, even if there were no transaction fees (I think?).
Though, powerful miners and developers still stand as our biggest weakness when it comes to manipulation in many forms. They would be able to manipulate the progression of Bitcoin, indirectly affect the prices of transaction fees and transaction confirmation times among many other things.
If miners are holding most of the Bitcoin supply, it is pretty easy for them to manipulate the price to ensure their profitability, this might make Bitcoin overpriced, creating illusion for other buyer and ultimately stealing their money. Not sure if this is healthy for Bitcoin network.
I actually have no clue what percentage of the supply miners are currently holding. I'd be willing to bet that it is indeed significant enough for them to dump coins and cause a crash. We should look at the criteria and parameters for development/developers and miners being able to manipulate and operate for their own gain rather than the health and longevity of Bitcoin.
That is very natural in my opinion, as it is always easy to score 1 to 20 and difficult to score 20 to 50 and even difficult to score 50 to 90. Bitcoin is now in 20 to 50 phase on a scale of growth so comparing it with any other coins which are still growing on a scale of 1 to 20 would not be a wise comparison. I do see next 10 years as the shaping as well as the adventurous years of crypto industry and we should compare the pace of growth on a larger timescale.
Do you think that Bitcoin has become too slow to compete with the relatively quick alt coins out there? Is it realty competitive to have a slow community rather than a centralised decision making in development?
In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
Bitcoin is not a slow development compared to another coin, but Bitcoin has been around for a long time and continued to grow well. The currencies are now much more developed than Bitcoins. In short, these coins are also slow to develop and maintain to have more coins In other words, does the community effect of decentralisation enough to counterbalance the difficult decision making processes?
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