I completely agree.
but also it may just be me but when I want to look for an alternative to bitcoin I wouldn't just choose a copy of it which is doing the exact same thing with a little difference (eg. using PoW and same structure but a different block size and/or time). for me that is like liking a real brand (like Adidas for example) but choose a Chinese poor copy of it called something similar and stealing the brand.
I think it was your topic in which I mentioned altcoins using DAG and I said it improves upon the technology and has a better scaling. then I did some research about them and saw this may not be 100% true. for example most of them have a limit of ~20 transaction per second! and that is just theoretical never put to a proper test.
Topic: Like Visa, Mastercard, Amex, etc Bitcoin will not stand alone - page 2. (Read 211 times)
I don't think that any other coin would ever get accepted in any shops.The main reason is that bitcoin has faced many critical situations and challenges from governments and bankers and has carried out huge volume of transactions.But other coins have never faced such issues and they have never proved themselves that they would withstand such problems.Also,i think that they would never gain universal trust as what bitcoin has got.No coin could replace bitcoin by having just a single feature of low transaction fee.
After reading this forum for long enough I get the impression from most posting here that they believe that Bitcoin will be the ONLY coin accepted by merchants/vendors or otherwise used by the mainstream. I don't think I've ever read anyone put forth a point of view like I am about to write here and it is this: Over time, most vendors will accept several cryptos just like they do with multiple credit cards or debit cards. In the case of cryptos vendors will probably accept more cryptos than they do credit cards.
I posted something earlier questioning the reasons why so many are loyal to Bitcoin vs. other cryptos. I pointed out that Bitcoin is facing many problems scaling and therefore has high fees and long transaction times for typical purchases. Those that respond miss the point when they say that "sooner or later other cryptos will see the same problems". The point is that these alt-coins currently do not have the same problems and they may have already solved or plan to solve any potential scaling problems. We all will have to wait and see what happens. While all of this is sorting itself out I believe that vendors will expand the range of coins that they accept. The less volatile the better.
Visa, Mastercard, American Express, Diners Club, Discover, etc are accepted by most mainstream merchants. Now swap out these credit cards for the top cryptos...you can do it in your head but if you want to write it out here that's up to you. I believe that this is a vision of the crypto future...and the coins worth buying if one is so inclined.
Do you agree or disagree with this assessment? Why or why not?
I don't fully agree with you. Not everyone in this forum thinks that Bitcoin is the only coin that will be accepted by the mainstream shops. If you look around this forum you'd notice that there is a lot of posters that want their coin and the coin that their in accepted in the shops that are near them. Some coins are working towards that goal.I posted something earlier questioning the reasons why so many are loyal to Bitcoin vs. other cryptos. I pointed out that Bitcoin is facing many problems scaling and therefore has high fees and long transaction times for typical purchases. Those that respond miss the point when they say that "sooner or later other cryptos will see the same problems". The point is that these alt-coins currently do not have the same problems and they may have already solved or plan to solve any potential scaling problems. We all will have to wait and see what happens. While all of this is sorting itself out I believe that vendors will expand the range of coins that they accept. The less volatile the better.
Visa, Mastercard, American Express, Diners Club, Discover, etc are accepted by most mainstream merchants. Now swap out these credit cards for the top cryptos...you can do it in your head but if you want to write it out here that's up to you. I believe that this is a vision of the crypto future...and the coins worth buying if one is so inclined.
Do you agree or disagree with this assessment? Why or why not?
As for Visa, Mastercard, AMEX, etc being swapped so people can purchase things with Bitcoin -it wouldn't make sense. The Government would have to spend more money on tax regulations. The Government does not need to spend on taxing Bitcoin because they can just have their friends at the large banks change the way those credit card companies operate. That would mean that they are likely to just adopt Bitcoin or other cryptocurrencies.
Even if the credit card companies and cryptocurrency work together so that people can spend one or the other in shops -they still have to comply with tax.
The question is not just about volatility.
Previously, the investor (for saving and accumulation) invested his money in gold, stocks, real estate. When he had to buy goods, he first sold the investment resource, the post made payment.
When using Bitcoin, everything happens faster and at a lower cost.
Previously, the investor (for saving and accumulation) invested his money in gold, stocks, real estate. When he had to buy goods, he first sold the investment resource, the post made payment.
When using Bitcoin, everything happens faster and at a lower cost.
After reading this forum for long enough I get the impression from most posting here that they believe that Bitcoin will be the ONLY coin accepted by merchants/vendors or otherwise used by the mainstream. I don't think I've ever read anyone put forth a point of view like I am about to write here and it is this: Over time, most vendors will accept several cryptos just like they do with multiple credit cards or debit cards. In the case of cryptos vendors will probably accept more cryptos than they do credit cards.
I posted something earlier questioning the reasons why so many are loyal to Bitcoin vs. other cryptos. I pointed out that Bitcoin is facing many problems scaling and therefore has high fees and long transaction times for typical purchases. Those that respond miss the point when they say that "sooner or later other cryptos will see the same problems". The point is that these alt-coins currently do not have the same problems and they may have already solved or plan to solve any potential scaling problems. We all will have to wait and see what happens. While all of this is sorting itself out I believe that vendors will expand the range of coins that they accept. The less volatile the better.
Visa, Mastercard, American Express, Diners Club, Discover, etc are accepted by most mainstream merchants. Now swap out these credit cards for the top cryptos...you can do it in your head but if you want to write it out here that's up to you. I believe that this is a vision of the crypto future...and the coins worth buying if one is so inclined.
Do you agree or disagree with this assessment? Why or why not?
I posted something earlier questioning the reasons why so many are loyal to Bitcoin vs. other cryptos. I pointed out that Bitcoin is facing many problems scaling and therefore has high fees and long transaction times for typical purchases. Those that respond miss the point when they say that "sooner or later other cryptos will see the same problems". The point is that these alt-coins currently do not have the same problems and they may have already solved or plan to solve any potential scaling problems. We all will have to wait and see what happens. While all of this is sorting itself out I believe that vendors will expand the range of coins that they accept. The less volatile the better.
Visa, Mastercard, American Express, Diners Club, Discover, etc are accepted by most mainstream merchants. Now swap out these credit cards for the top cryptos...you can do it in your head but if you want to write it out here that's up to you. I believe that this is a vision of the crypto future...and the coins worth buying if one is so inclined.
Do you agree or disagree with this assessment? Why or why not?
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