bitcoin is getting better and better by slowly adopting the demand
i think it will fit what the user need in the future
Topic: Is bitcoin the future or just a precursor (Read 327 times)
I see bitcoin as the future because of its brand and community, and its ability to continuously evolve and redefine itself. Bitcoin means different things to different people. Some see it as a store of value and others as a currency, and others as a collectible.
BTC has proven to not be able to handle adoption... lightning net. is still just a hope that nobody knows if it will actually work on a large scale...
I see BTC as the most strong contestant to become the "store of value", but in relation of daily useability there are some other projects that out-preform BTC by far, and these do not need LN patches...
evolution is something natural and unstoppable.... this is also valid for crypto
I see BTC as the most strong contestant to become the "store of value", but in relation of daily useability there are some other projects that out-preform BTC by far, and these do not need LN patches...
evolution is something natural and unstoppable.... this is also valid for crypto
Bitcoin is still perfecting itself, through upgrades to be able to withstand a large amount of transactions from many users, we keep looking back two years ago, when bitcoin is the focus of global attention. There are a lot of transactions going on from investors, so the blockchain network is interrupted, but after many upgrades it now works better, I believe in a few years, it will be better now hours.
2017 bitcoin transaction system was the prove that nothings is perfect and always need update, the creator maybe never expected that the transaction volume of bitcoin will become so big, but now the team had created the lightning network which could tackle those problems, so I think bitcoin could promise something good for the future
Not even most tech companys services are perfect up to now.All systems in this world have flaws everything needs to be fixed I am sure eve NASA does fixing everyday on their satellites system.Bitcoin is still new,and surely will be better in the future when development projects on the systems network is done. Bitcoin network is not yet ready for that huge volume of transactions but for further development for sure network can handle bigger volume of transactions
One thing I learned with all of this bitcoin thing is that it is on the evolution in the face of growing challenges and problems it is tackling on. Bitcoin is going to be a big game-changer so it must not let itself just stay in the corner and watch while the whole world goes by. There are now many experiments and developments going on to address flaws in the network and I think that soon there will be so positive changes that users everywhere will love. We just have to give bitcoin the time it needs. The problem of scalability and micro-transactions are two fronts that are being addressed right now by devs.
2017 bitcoin transaction system was the prove that nothings is perfect and always need update, the creator maybe never expected that the transaction volume of bitcoin will become so big, but now the team had created the lightning network which could tackle those problems, so I think bitcoin could promise something good for the future
Not even most tech companys services are perfect up to now.All systems in this world have flaws everything needs to be fixed im sure eve NASA does fixing everyday on their satellites system.Bitcoin is still new,and surely will be better in the future when development projects on the systems network is done.Bitcoin network is not yet ready for that huge volume of transactions but for further development for sure network can handle bigger volume of transactions
2017 bitcoin transaction system was the prove that nothings is perfect and always need update, the creator maybe never expected that the transaction volume of bitcoin will become so big, but now the team had created the lightning network which could tackle those problems, so I think bitcoin could promise something good for the future
I think bitcoin is the future because it serves as an indicator for other coins too. Bitcoin is the king of cryptocurrency and will still remain that. No coin can replace that. Aside that its also growing massively.
So far, we can only say that Bitcoin and the whole cryptocurrency are not perfect. They continue to develop and develop very quickly. We do not yet know something like this at all and therefore we cannot say where such a development of cryptocurrency will lead. However, one can hardly expect that the cryptocurrency will make significant changes in the global financial system of payments. Cryptocurrency should not even strive for this, because then it will enter into open confrontation with the interests of all states. It would be better if the cryptocurrency will be one of the types of cashless payments and will go along with the national currencies of the states and they will complement each other with their capabilities.
Concluding this early that Bitcoin is the future is quite unsure for me not because I'm doubting about the capability of it but it still needs a lot of improvement and massive adoption. It still needs to be accepted in a lot of countries and accepted as a currency. However, we can't hide the fact that bitcoin has a huge impact in the economic growth of most countries.
These improvements are indeed needed, and they can be done as the time goes by. The possibility of making improvements only gives more power to bitcoin in the crypto space if compared to altcoins. I believe btc isn't only the precursor, but also the future of crypto currency.Altcoins can have interesting and useful features, as eth, but they aren't enough to stop bitcoin dominance.
Maybe it's time for a hybrid solution?
Some alts, and projects working without a coin, that can eventually .
In my opinion working together without a coin to develop a hybrid solution to bolster the use of bitcoin is something that will never happen.. The crypto space of today has too much CEOs who know nothing about working as a team but are concerned with making millions of dollars from their innovations. I think if ethereum wanted to be the solution, the ethereum team could have established payment network and done tremendously well but the team chose to distance or restrict itself to financial and remittance solutions.. Some alts, and projects working without a coin, that can eventually .
Maybe it's time for a hybrid solution?
Some alts, and projects working without a coin, that can eventually .
In my opinion working together without a coin to develop a hybrid solution to bolster the use of bitcoin is something that will never happen.. The crypto space of today has too much CEOs who know nothing about working as a team but are concerned with making millions of dollars from their innovations. I think if ethereum wanted to be the solution, the ethereum team could have established payment network and done tremendously well but the team chose to distance or restrict itself to financial and remittance solutions.. Some alts, and projects working without a coin, that can eventually .
Concluding this early that Bitcoin is the future is quite unsure for me not because I'm doubting about the capability of it but it still needs a lot of improvement and massive adoption. It still needs to be accepted in a lot of countries and accepted as a currency. However, we can't hide the fact that bitcoin has a huge impact in the economic growth of most countries.
Maybe it's time for a hybrid solution?
Some alts, and projects working without a coin, that can eventually become the second layer extending the capabilities of Bitcoin.
Elastos, Ethereum (Wrapped Bitcoin), VeriBlock, Rootstock, and Blockstack, to name a few.
These projects could confirm the domination of Bitcoin, borrowing from it the features that they themselves cannot have.
Since they always have to sacrifice some of the benefits of decentralization on the altar of scalability.
Some alts, and projects working without a coin, that can eventually become the second layer extending the capabilities of Bitcoin.
Elastos, Ethereum (Wrapped Bitcoin), VeriBlock, Rootstock, and Blockstack, to name a few.
These projects could confirm the domination of Bitcoin, borrowing from it the features that they themselves cannot have.
Since they always have to sacrifice some of the benefits of decentralization on the altar of scalability.
I don't believe that a startup can create true cryptocurrency, they are always motivated by profit, and to achieve that profit they have to put a lot of centralization into their protocol - TRON, EOS and XRP are good examples of such coins. It's not hard to make something with cheaper and faster transactions than Bitcoin, but so far no one figured out how to do it and still have decentralization - no one, except for people behind Lightning Network, who found a way to use Bitcoin transactions to create channels for sending unlimited amounts of transactions. So, yes, Bitcoin has much better chances of becoming the future of payments than any other coin.
Good points. The one thing that you failed to mention is that no coin could replicate the success of BTC primarily due to fact that it was the first ever legitimate cryptocurrency that gained widespread popularity around the world giving it a head start in this aspect.
I would not want to jump ahead of the game and say bitcoin is the future but i say blockchain technology and cryptocurrencies are the future. Bitcoin be the pioneering factor but may not be the one to carry it through. We can only hope that in the near future cryptocurrencies are finally approved by governments to be used as another payment method.
I don't believe that a startup can create true cryptocurrency, they are always motivated by profit, and to achieve that profit they have to put a lot of centralization into their protocol - TRON, EOS and XRP are good examples of such coins. It's not hard to make something with cheaper and faster transactions than Bitcoin, but so far no one figured out how to do it and still have decentralization - no one, except for people behind Lightning Network, who found a way to use Bitcoin transactions to create channels for sending unlimited amounts of transactions. So, yes, Bitcoin has much better chances of becoming the future of payments than any other coin.
sometime in 2017 I joined the crypto space . I started out with faucets and other freebies which were the rave of the moment as of 2017. My first use of bitcoin to perpetuate transaction left me amused. The ability to perpetuate operations with people from all over the world without any form of geographical legislation or censorship, at low cost and without exorbitant fees often associated with other means of remittance I.e western union really endeared me to bitcoin..
My love for the bitcoin network was short lived because as the valuation of the bitcoin currency continued to rise, so also the adoption and utilization of bitcoin. This rise in use brought about expensive transactions fee and delay in confirmation of transactions. In my opinion, at some point, it was even worse than the traditional finance and remittance system of the world... Then I tried out the Ethereum blockchain and I was immediately astonished by its durability and high transaction performance but likewise increased usage of the ethereum blockchain and its exceptional support for tokens brought about clogging and sad decline in performance as at then..
Then I had to reconsider using bitcoin for my transactions, especially with the lighting network.. Well the market has gradually began to show signs of an uptrend and it's expected that more users join the bitcoin network?Do you still see bitcoin as the future of blockchain payment and remittance or is it just a precursor to another blockchain startup which will shake the finance and remittance system of the world?
Feel free to share your thoughts and in-depth analysis of the subject matter..
My love for the bitcoin network was short lived because as the valuation of the bitcoin currency continued to rise, so also the adoption and utilization of bitcoin. This rise in use brought about expensive transactions fee and delay in confirmation of transactions. In my opinion, at some point, it was even worse than the traditional finance and remittance system of the world... Then I tried out the Ethereum blockchain and I was immediately astonished by its durability and high transaction performance but likewise increased usage of the ethereum blockchain and its exceptional support for tokens brought about clogging and sad decline in performance as at then..
Then I had to reconsider using bitcoin for my transactions, especially with the lighting network.. Well the market has gradually began to show signs of an uptrend and it's expected that more users join the bitcoin network?Do you still see bitcoin as the future of blockchain payment and remittance or is it just a precursor to another blockchain startup which will shake the finance and remittance system of the world?
Feel free to share your thoughts and in-depth analysis of the subject matter..
Well, there's no perfect technology. You cannot expect something to be perfect when it pops-up, the problem with bitcoin scalability is slowly being solved by developers which where they came up with lightning network. Technology is a continuous development, so if ever a problem exists, people will continue to find solution. I still see cryptocurrency as an alternative to fiat regardless if sometimes there might be high fees or problem with confirmation of transaction, it will still be more convenient than using banks.
Bitcoin just paved the way that can greatly change the current financial system we are having. I may not believe that soon fiat money can be totally replaced as that can be impossible not unless we will have one global government and that government will solely adopt Bitcoin but I know with the underlying technology it is using there will be more and more innovations that people can enjoy. The most important for now is that Bitcoin is evolving and that people have a choice. Besides, Bitcoin is still young so we can expect more and more developments with this as years go by. The Bitcoin saga is ongoing and it is a good feeling to be a part of it...
I also Joined the Crypto Space in 2017 but I started with Ethereum as an Investor cause it was the second best investment option after Bitcoin. Why I did that I still do not know. I was amazed with the practical usage of ETH and wanted to get as much as I can Do remember those were the days when Investing in ICO was the best option. Then came Bitcoin Lightning Network in the Mid of 2018 and now I do not want to miss it out as I feel that is the future.
So my answer to you is NO, BITCOIN IS NOT THE PRECURSOR BUT THE FUTURE WITH THE LIGHTNING NETWORK.
So my answer to you is NO, BITCOIN IS NOT THE PRECURSOR BUT THE FUTURE WITH THE LIGHTNING NETWORK.
Bitcoin still has a bright future for the blockchain payment although many other coins claim they can do better than bitcoin.
But the truth, they are still following behind bitcoin, and they cannot compete with bitcoin.
There is a matter of time for bitcoin to shake the finance and remittance system of the world and when the time it comes, nobody will doubt the blockchain system because blockchain can bring something better for us.
The fee of the transaction is not too big depends on the amount of the money you want to sent and if you want to send a small amount, then maybe using the lightning network will help you.
But the truth, they are still following behind bitcoin, and they cannot compete with bitcoin.
There is a matter of time for bitcoin to shake the finance and remittance system of the world and when the time it comes, nobody will doubt the blockchain system because blockchain can bring something better for us.
The fee of the transaction is not too big depends on the amount of the money you want to sent and if you want to send a small amount, then maybe using the lightning network will help you.
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