The time is coming...
We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.
baaa, it's almost touching the 200's now....depressing...where's the spike you promised?
Did you read my post? I said 3-6 months before it happens minimum.
Jeebus christ, Bitcoin is practically guaranteed to go to the moon next year and you guys are whining about
cheap coins.Either take advantage of the current situation or don't.
I think people often confuse bitcoin for crypto in general. The writing is on the wall for crypto. It solves myriad real world problems that nothing else that has ever been invented can, or anything that will be invented for quite some time likely will. To confuse crypto currency in general for bitcoin specifically however might end up getting a lot of people burned.
You are NOT being very specific in your critique, and what are the possible solutions to this? Educate people about different crypto currencies? They have NO incentive to be educated until they become more invested in the ideas and/or practices of crypto, no? Are you proposing any forward direction?
I'm only suggesting that if sufficiently superior technology comes along than it will unseat bitcoin. The markets arn't going to wait until this actually happens to price in this risk. They are already pricing it in. Infact i think its very unlikely that such a sufficiently superior technology will not emerge at some point in the future. Bitcoin security cost is high, non adaptive and wasteful. Anonymity is expensive and perhaps even at large cost involves counter-party risk and/or is potentially insufficient for certain tasks. And perhaps there is the opportunity to develop blockchains like systems that scale better. Those are just some examples. What do you do about it? Keep your ear to the ground.
I largely agree with what you are saying here; however, I will take a bit of an exception to what seems to be your assertion that bitcoin could be so jeopardized by some kind of better technology.
In this regard, there remains a considerable advantage to first mover advantage and accordingly there would be various impediments to evolving redundant systems. I cannot recall the exact computing power of the bitcoin network, but it is like a very large multitude the computing power of the top 500 computers in the world. Surely, it would NOT be easy to transfer over to newer, better crypto systems because it would take a while to develop such systems, including network power. Further, regarding some technological improvements, it would be possible for the bitcoin network to absorb some of these improvements with side chains or changes to the protocol or forks or some other adaptations... maybe NOT possible in all instances, but NOT out of the question.
I agree with your proposed solution to keep our ears to the ground because it is very likely that we would recognize some changes or needs to convert our investment into new systems b/c evolution of new systems is NOT likely to take place in a flash (and/or without some warnings).
I Look prettier than that though....
