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Topic: NOTHING IS ABOVE BITCOIN - page 5. (Read 968 times)

legendary
Activity: 2912
Merit: 6403
Blackjack.fun
November 26, 2019, 01:35:23 PM
#11
This is exactly why stablecoins like USDT, TUSD, DAI, Libra, etc. won't gain much popularity

Too late for that, tether is popular because a lot of people are scared of volatility, a lot of so-called traders entered the market for quick gains but they are afraid to leave their funds in some coin and they quickly convert them to tether so they can sleep easily at night.
It might not have gained traction in RL shopping but it might and at that point..god knows what might happened next.

Unfortunately, the masses are all about $ and instinctively when they don't have a clue what will happen next they tend to switch their stash to something that would not lose value against the $ no matter how bad the news hitting the crypto world is. Quite interesting, a lot of people also predict the fall of the usd and euro but that isn't making them switching all the savings into crypto either, no matter how scared of a fall they are they still keep their funds in fiat. Because of convenience, because of...who knows.

In short, it's a bit too late for those coins to NOT gain popularity or even more popularity.
mk4
legendary
Activity: 2786
Merit: 3845
Paldo.io 🤖
November 26, 2019, 01:00:24 PM
#10
This is exactly why stablecoins like USDT, TUSD, DAI, Libra, etc. won't gain much popularity. Cryptocurrencies and the blockchain technology were created with a scope - that we get rid of all the centralization and excessive control of authorities over the world. Corruption is at all time high level and transparency is nowhere near where we would like it to be. By adopting Bitcoin and blockchain & adiacent tech like smart contracts I'm sure we will make a much efficient & fair world.

Stablecoins actually gained popularity. Why? Simply because having stablecoins eliminates the risks of volatility through assets like bitcoin. Along with that, not everyone(or probably even majority) don't even care about decentralization and security in the first place! This is the exact reason why for some reason people still "invest" in other cryptocurrencies like XRP, and other worse shitcoins.
legendary
Activity: 2114
Merit: 1292
There is trouble abrewing
November 26, 2019, 11:37:07 AM
#9
This is exactly why stablecoins like USDT, TUSD, DAI, Libra, etc. won't gain much popularity.

it depends on your definition of popularity!
for example Tether is already very popular if you believe the daily trading volume of it and define popularity by how much people are using it. or for example Libra is something that has a big name (Facebook) behind it and it automatically is being advertised and is ahead in popularity.

but it is important to know that you can not compare things that are not in the same category! for example all these centralized coins should be compared with banks, paypal,... not with bitcoin.
hero member
Activity: 1806
Merit: 526
Leading Crypto Sports Betting & Casino Platform
November 26, 2019, 11:18:34 AM
#8
We should not be too emotional towards BTC, it has its own pros and cons just like fiat currency. There are few things which BTC needs badly to gain global acceptance. The first is regarding regulation issues and second is about scalability.
jr. member
Activity: 78
Merit: 2
November 26, 2019, 11:08:45 AM
#7
And this will continue for a very long time, bitcoin will be the most value on the market.
sr. member
Activity: 1151
Merit: 260
☆Gaget-Pack☆
November 26, 2019, 11:02:01 AM
#6
Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."

He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."

Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back

I really don't think there is anything above Bitcoin at the moment, but as of now, we are on the verge of there being a 4th generation of Blockchain technology. Many people say and agree that Bitcoin was the first generation. Ethereum was the second with it's introduction of smart contracts and tokenization. It's arguable but EOS may be considered the third wave of Blockchain generation technology. EOS has delegated proof of stake, which makes proof of work obsolete and EOS scale-able.
full member
Activity: 1099
Merit: 116
November 26, 2019, 10:55:02 AM
#5
Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."

He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."

Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back


Bitcoin is so popular that no cryptocoins is still can gained this perception till now or even in the future. Stable currencies ( USD, EURO, POUND etc) are different and it not like Bitcoin. I think he is little bit right.
sr. member
Activity: 1806
Merit: 295
November 26, 2019, 10:43:36 AM
#4
This is exactly why stablecoins like USDT, TUSD, DAI, Libra, etc. won't gain much popularity. Cryptocurrencies and the blockchain technology were created with a scope - that we get rid of all the centralization and excessive control of authorities over the world. Corruption is at all time high level and transparency is nowhere near where we would like it to be. By adopting Bitcoin and blockchain & adiacent tech like smart contracts I'm sure we will make a much efficient & fair world.
Many sweet sentences circulate about the potential of BTC, but I want to know how the world adopts them simultaneously. The bitcoin-blockchain solution for verbal justice looks real, but bureaucracy is very complex. If bitcoin is used in political power, prices can be manipulated worse than before. this would be an economic apocalypse worse than fiat.
legendary
Activity: 2310
Merit: 1033
Not your Keys, Not your Bitcoins
November 26, 2019, 05:45:46 AM
#3
This is exactly why stablecoins like USDT, TUSD, DAI, Libra, etc. won't gain much popularity. Cryptocurrencies and the blockchain technology were created with a scope - that we get rid of all the centralization and excessive control of authorities over the world. Corruption is at all time high level and transparency is nowhere near where we would like it to be. By adopting Bitcoin and blockchain & adiacent tech like smart contracts I'm sure we will make a much efficient & fair world.
hero member
Activity: 1008
Merit: 531
November 26, 2019, 05:31:38 AM
#2
I like this quote from the man
Quote
I think that blockchains are more about permissionless, uncensorable usage and free market money - separating money from state - using  a gold-like mined digital commodity money: Bitcoin. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users.

He is very supportive of bitcoin technology, but he doesn't like appreciate bitcoin - he is able to also reflect on other investments that are also popular and successful and he understands that these ones also have a place in the ecosystem, very open-minding thinking.

Quote
Back also pointed out that if blockchain applications cannot be auditable, such as Bitcoin, they have no value.
I agree with this as well, a lot of people miss the open-ledger side of blockchain technology when it's one of the most important features and helps users feel a lot safer with it's transparency.
member
Activity: 136
Merit: 12
November 26, 2019, 02:38:53 AM
#1
Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."

He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."

Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back
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