Of course we can use satoshis as a smaller currency, but let's try to be objective: bitcoin isn't easy / safe / stable enough for mass adoption yet.
Choosing a wallet, hot wallet, hard wallet, paper wallet, as safe as possible, create an address that you can't remember, a private key that you can't remember, wait for the sync every time you use it, or connect your nano, etc... Once you know, it isn't that hard, but still not easy enough (for now).
So using satoshi would be to add a second measurement unit within the first. Again nothing impossible, for those who have been in crypto for a while, but I don't think bitcoin needs anymore difficulties right now. Bitcoin needs to solve his problems (scalability), and focus on what he does best.
I do not try to convince anyone, and certainly not to criticize bitcoin which I really like. It just seems unrealistic to consider using bitcoin in his actual form as a mass currency for everyday use in the future.
Topic: Thoughts about the future of cryptos. (Read 176 times)
Bitcoin has a smaller unit known as 'satoshi'.You can buy your
coffee with satoshi which is one hundred-millionth of a bitcoin.Considering
that the western world have started imposing taxes on crypt traders,
it charts the course for crypt world to remain.With the advent of distributed
ledger, I see many crypto currencies retain their place; not because they
have strong market cap, but due its utility value.Lets hope for a better
future.
coffee with satoshi which is one hundred-millionth of a bitcoin.Considering
that the western world have started imposing taxes on crypt traders,
it charts the course for crypt world to remain.With the advent of distributed
ledger, I see many crypto currencies retain their place; not because they
have strong market cap, but due its utility value.Lets hope for a better
future.
Thanks for your contributions .
I agree that bitcoin isn't supposed to be used for small transactions. That why I said that a new "everyday use" currency will take over. As a store of value, something you use for big transactions, bitcoin it great, but you don't transfer big amount every day. We do buy coffee every day, so we need another crypto to take that place. I really like LTC, but i also believe the supply is too small to be a mass currency. If we think about a world wild currency being used by millions of people all the time, a coin worth more than 10-20$ isn't appropriate. That's why I am afraid of ripple: it is scalable, fast, and the price is good to be used as an every day currency.
I don't think governments / banks are fighting crypto, I am pretty sure they enjoy it as it will help suppress cash. Cash is what they don't like, and have no control over (and what is really used for illegal stuff by the way). But crypto, as long as they control centralized exchanges, and know who's buying what, it isn't a big threat to them. At least no as big as they would like us to believe.
I agree that bitcoin isn't supposed to be used for small transactions. That why I said that a new "everyday use" currency will take over. As a store of value, something you use for big transactions, bitcoin it great, but you don't transfer big amount every day. We do buy coffee every day, so we need another crypto to take that place. I really like LTC, but i also believe the supply is too small to be a mass currency. If we think about a world wild currency being used by millions of people all the time, a coin worth more than 10-20$ isn't appropriate. That's why I am afraid of ripple: it is scalable, fast, and the price is good to be used as an every day currency.
I don't think governments / banks are fighting crypto, I am pretty sure they enjoy it as it will help suppress cash. Cash is what they don't like, and have no control over (and what is really used for illegal stuff by the way). But crypto, as long as they control centralized exchanges, and know who's buying what, it isn't a big threat to them. At least no as big as they would like us to believe.
Here are some thoughts about crypto and their future.
We are now entering a second phase of crypto era: The In-Between. The wild west is slowly coming to an end on one side, and on the other side KYC and countries / governments talking about regulations and even global cooperation to do what they do best tax and track properly. There are still lot's of great opportunities to be made, but also a lot of greed, scams, thieves.
Phase 2 is also the bubble phase, when everything gets out of control: too many coins, too many scams, and too much profit for too many people. That would be awesome, but unfortunately, it doesn't work this way. So one way or another, we will get a "crash" that will select the real / good / useful projects over the rest. When the bubble burst, money will reallocate in the strongest coins/tokens. A few giant will emerge, as well as maybe 50 to 100 other interesting projects, and as the time goes, the smaller projects will bet eaten by the giant.
The bubble crash will more or less mark the beginning of phase 3 with regulation in place (which will also be made much easier with less coins), and mass adoption. Scams as well as huge return for average Joe will be long gone. Crypto will be legit.
Now, blockchain is here to stay. But which coins / tokens will stick around for regulation and main street adoption ? That's the real question. Most of those thousand coins in CMC won't make it.
Unfortunately, the way it is going isn't the way most idealist hoped it could be. Bitcoin is great, but it can't be the main currency because of a supply too little and scalability problem (you can't realistically buy a coffee 0,00000015BTC with $10 fees and 15mn transaction time!). However it will most likely stick as a store of value, and maybe as a "bitcoin standard" on exchange (think gold standard but for crypto). Ethereum has the same scalability issue, and it is a DAPP platform, not a currency in the first place so it doesn't seem well adapted, and the supply isn't high enough in my opinion. It's sad to say, but ripple is very well placed to take the lead as the main currency in crypto world (maybe lightning network can prove me wrong).
So, the way I see it, we have 4 mains issues to solve if we want to keep the spirit of crypto:
1/ A credible alternate decentralized currency instead of ripple.
2/ Adoption of decentralized exchanges.
3/ Security, with safe wallet, safe network decentralization, and safe encryption with the rise of quantum computer coming.
4/ A way to make POW more environmentally friendly, or to find an alternative as good as POW.
What do you think guys ?
We are now entering a second phase of crypto era: The In-Between. The wild west is slowly coming to an end on one side, and on the other side KYC and countries / governments talking about regulations and even global cooperation to do what they do best tax and track properly. There are still lot's of great opportunities to be made, but also a lot of greed, scams, thieves.
Phase 2 is also the bubble phase, when everything gets out of control: too many coins, too many scams, and too much profit for too many people. That would be awesome, but unfortunately, it doesn't work this way. So one way or another, we will get a "crash" that will select the real / good / useful projects over the rest. When the bubble burst, money will reallocate in the strongest coins/tokens. A few giant will emerge, as well as maybe 50 to 100 other interesting projects, and as the time goes, the smaller projects will bet eaten by the giant.
The bubble crash will more or less mark the beginning of phase 3 with regulation in place (which will also be made much easier with less coins), and mass adoption. Scams as well as huge return for average Joe will be long gone. Crypto will be legit.
Now, blockchain is here to stay. But which coins / tokens will stick around for regulation and main street adoption ? That's the real question. Most of those thousand coins in CMC won't make it.
Unfortunately, the way it is going isn't the way most idealist hoped it could be. Bitcoin is great, but it can't be the main currency because of a supply too little and scalability problem (you can't realistically buy a coffee 0,00000015BTC with $10 fees and 15mn transaction time!). However it will most likely stick as a store of value, and maybe as a "bitcoin standard" on exchange (think gold standard but for crypto). Ethereum has the same scalability issue, and it is a DAPP platform, not a currency in the first place so it doesn't seem well adapted, and the supply isn't high enough in my opinion. It's sad to say, but ripple is very well placed to take the lead as the main currency in crypto world (maybe lightning network can prove me wrong).
So, the way I see it, we have 4 mains issues to solve if we want to keep the spirit of crypto:
1/ A credible alternate decentralized currency instead of ripple.
2/ Adoption of decentralized exchanges.
3/ Security, with safe wallet, safe network decentralization, and safe encryption with the rise of quantum computer coming.
4/ A way to make POW more environmentally friendly, or to find an alternative as good as POW.
What do you think guys ?
I agree with you, as per my view, when it comes to world wide adoption, this is what I think it's going to happen with crypto currencies in the next few years:
1. Slowly banks will start being more and more aggressive twards Bitcoin and crypto, due to this, the crypto community will be more fierceful to make crypto payments in much more stores a possibility
2. Governments will eventually start accepting crypto as tax payment
3. Slowly more and more people will get onboard, just by using their phone and we will have a main crypto, I think Bitcoin has good chances to remain the king here.
Seems like it is already started, but we can't say that it was unpredictable, everybody knew that once the cryptomarket gains some adoption we are going to see countries and banks fighting against it, and at the moment, USA is fighting against exchanges and are going to make them hard time to survive.
The thing with the fee rates, I think it's okay, because Bitcoin is not supposed to be used for coffee transactions, for that you have other coins such as litecoin, you don't need the massive protection that the bitcoin network is offering for buying a coffee, it's completely stupid.
Bitcoin should be used for big transactions only, for small ones we have the altcoins, who provides the same thing but with less protection as the network is smaller.
Here are some thoughts about crypto and their future.
We are now entering a second phase of crypto era: The In-Between. The wild west is slowly coming to an end on one side, and on the other side KYC and countries / governments talking about regulations and even global cooperation to do what they do best tax and track properly. There are still lot's of great opportunities to be made, but also a lot of greed, scams, thieves.
Phase 2 is also the bubble phase, when everything gets out of control: too many coins, too many scams, and too much profit for too many people. That would be awesome, but unfortunately, it doesn't work this way. So one way or another, we will get a "crash" that will select the real / good / useful projects over the rest. When the bubble burst, money will reallocate in the strongest coins/tokens. A few giant will emerge, as well as maybe 50 to 100 other interesting projects, and as the time goes, the smaller projects will bet eaten by the giant.
The bubble crash will more or less mark the beginning of phase 3 with regulation in place (which will also be made much easier with less coins), and mass adoption. Scams as well as huge return for average Joe will be long gone. Crypto will be legit.
Now, blockchain is here to stay. But which coins / tokens will stick around for regulation and main street adoption ? That's the real question. Most of those thousand coins in CMC won't make it.
Unfortunately, the way it is going isn't the way most idealist hoped it could be. Bitcoin is great, but it can't be the main currency because of a supply too little and scalability problem (you can't realistically buy a coffee 0,00000015BTC with $10 fees and 15mn transaction time!). However it will most likely stick as a store of value, and maybe as a "bitcoin standard" on exchange (think gold standard but for crypto). Ethereum has the same scalability issue, and it is a DAPP platform, not a currency in the first place so it doesn't seem well adapted, and the supply isn't high enough in my opinion. It's sad to say, but ripple is very well placed to take the lead as the main currency in crypto world (maybe lightning network can prove me wrong).
So, the way I see it, we have 4 mains issues to solve if we want to keep the spirit of crypto:
1/ A credible alternate decentralized currency instead of ripple.
2/ Adoption of decentralized exchanges.
3/ Security, with safe wallet, safe network decentralization, and safe encryption with the rise of quantum computer coming.
4/ A way to make POW more environmentally friendly, or to find an alternative as good as POW.
What do you think guys ?
We are now entering a second phase of crypto era: The In-Between. The wild west is slowly coming to an end on one side, and on the other side KYC and countries / governments talking about regulations and even global cooperation to do what they do best tax and track properly. There are still lot's of great opportunities to be made, but also a lot of greed, scams, thieves.
Phase 2 is also the bubble phase, when everything gets out of control: too many coins, too many scams, and too much profit for too many people. That would be awesome, but unfortunately, it doesn't work this way. So one way or another, we will get a "crash" that will select the real / good / useful projects over the rest. When the bubble burst, money will reallocate in the strongest coins/tokens. A few giant will emerge, as well as maybe 50 to 100 other interesting projects, and as the time goes, the smaller projects will bet eaten by the giant.
The bubble crash will more or less mark the beginning of phase 3 with regulation in place (which will also be made much easier with less coins), and mass adoption. Scams as well as huge return for average Joe will be long gone. Crypto will be legit.
Now, blockchain is here to stay. But which coins / tokens will stick around for regulation and main street adoption ? That's the real question. Most of those thousand coins in CMC won't make it.
Unfortunately, the way it is going isn't the way most idealist hoped it could be. Bitcoin is great, but it can't be the main currency because of a supply too little and scalability problem (you can't realistically buy a coffee 0,00000015BTC with $10 fees and 15mn transaction time!). However it will most likely stick as a store of value, and maybe as a "bitcoin standard" on exchange (think gold standard but for crypto). Ethereum has the same scalability issue, and it is a DAPP platform, not a currency in the first place so it doesn't seem well adapted, and the supply isn't high enough in my opinion. It's sad to say, but ripple is very well placed to take the lead as the main currency in crypto world (maybe lightning network can prove me wrong).
So, the way I see it, we have 4 mains issues to solve if we want to keep the spirit of crypto:
1/ A credible alternate decentralized currency instead of ripple.
2/ Adoption of decentralized exchanges.
3/ Security, with safe wallet, safe network decentralization, and safe encryption with the rise of quantum computer coming.
4/ A way to make POW more environmentally friendly, or to find an alternative as good as POW.
What do you think guys ?
I agree with you, as per my view, when it comes to world wide adoption, this is what I think it's going to happen with crypto currencies in the next few years:
1. Slowly banks will start being more and more aggressive twards Bitcoin and crypto, due to this, the crypto community will be more fierceful to make crypto payments in much more stores a possibility
2. Governments will eventually start accepting crypto as tax payment
3. Slowly more and more people will get onboard, just by using their phone and we will have a main crypto, I think Bitcoin has good chances to remain the king here.
Here are some thoughts about crypto and their future.
We are now entering a second phase of crypto era: The In-Between. The wild west is slowly coming to an end on one side, and on the other side KYC and countries / governments talking about regulations and even global cooperation to do what they do best tax and track properly. There are still lot's of great opportunities to be made, but also a lot of greed, scams, thieves.
Phase 2 is also the bubble phase, when everything gets out of control: too many coins, too many scams, and too much profit for too many people. That would be awesome, but unfortunately, it doesn't work this way. So one way or another, we will get a "crash" that will select the real / good / useful projects over the rest. When the bubble burst, money will reallocate in the strongest coins/tokens. A few giant will emerge, as well as maybe 50 to 100 other interesting projects, and as the time goes, the smaller projects will bet eaten by the giant.
The bubble crash will more or less mark the beginning of phase 3 with regulation in place (which will also be made much easier with less coins), and mass adoption. Scams as well as huge return for average Joe will be long gone. Crypto will be legit.
Now, blockchain is here to stay. But which coins / tokens will stick around for regulation and main street adoption ? That's the real question. Most of those thousand coins in CMC won't make it.
Unfortunately, the way it is going isn't the way most idealist hoped it could be. Bitcoin is great, but it can't be the main currency because of a supply too little and scalability problem (you can't realistically buy a coffee 0,00000015BTC with $10 fees and 15mn transaction time!). However it will most likely stick as a store of value, and maybe as a "bitcoin standard" on exchange (think gold standard but for crypto). Ethereum has the same scalability issue, and it is a DAPP platform, not a currency in the first place so it doesn't seem well adapted, and the supply isn't high enough in my opinion. It's sad to say, but ripple is very well placed to take the lead as the main currency in crypto world (maybe lightning network can prove me wrong).
So, the way I see it, we have 4 mains issues to solve if we want to keep the spirit of crypto:
1/ A credible alternate decentralized currency instead of ripple.
2/ Adoption of decentralized exchanges.
3/ Security, with safe wallet, safe network decentralization, and safe encryption with the rise of quantum computer coming.
4/ A way to make POW more environmentally friendly, or to find an alternative as good as POW.
What do you think guys ?
We are now entering a second phase of crypto era: The In-Between. The wild west is slowly coming to an end on one side, and on the other side KYC and countries / governments talking about regulations and even global cooperation to do what they do best tax and track properly. There are still lot's of great opportunities to be made, but also a lot of greed, scams, thieves.
Phase 2 is also the bubble phase, when everything gets out of control: too many coins, too many scams, and too much profit for too many people. That would be awesome, but unfortunately, it doesn't work this way. So one way or another, we will get a "crash" that will select the real / good / useful projects over the rest. When the bubble burst, money will reallocate in the strongest coins/tokens. A few giant will emerge, as well as maybe 50 to 100 other interesting projects, and as the time goes, the smaller projects will bet eaten by the giant.
The bubble crash will more or less mark the beginning of phase 3 with regulation in place (which will also be made much easier with less coins), and mass adoption. Scams as well as huge return for average Joe will be long gone. Crypto will be legit.
Now, blockchain is here to stay. But which coins / tokens will stick around for regulation and main street adoption ? That's the real question. Most of those thousand coins in CMC won't make it.
Unfortunately, the way it is going isn't the way most idealist hoped it could be. Bitcoin is great, but it can't be the main currency because of a supply too little and scalability problem (you can't realistically buy a coffee 0,00000015BTC with $10 fees and 15mn transaction time!). However it will most likely stick as a store of value, and maybe as a "bitcoin standard" on exchange (think gold standard but for crypto). Ethereum has the same scalability issue, and it is a DAPP platform, not a currency in the first place so it doesn't seem well adapted, and the supply isn't high enough in my opinion. It's sad to say, but ripple is very well placed to take the lead as the main currency in crypto world (maybe lightning network can prove me wrong).
So, the way I see it, we have 4 mains issues to solve if we want to keep the spirit of crypto:
1/ A credible alternate decentralized currency instead of ripple.
2/ Adoption of decentralized exchanges.
3/ Security, with safe wallet, safe network decentralization, and safe encryption with the rise of quantum computer coming.
4/ A way to make POW more environmentally friendly, or to find an alternative as good as POW.
What do you think guys ?
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