I see a lot of optimism about bitcoin, which is understandable seeing the price recently.
But I have to admit I'm a little worried about the long term future of btc.
The major problems if the currency still haven't been dealt with. I see 2 major ones:
-Block size. Which makes the delay and fees of transaction rise very fast. Smaller transactions are more and more difficult to make.
-The centralization of the market. China got low cost electricity, which make them by far the most bitcoin mining capable.
-And maybe others that I'm not aware of.
Another thing: The Hard forks that are oddly getting much more frequent than before. (BCH, BTG, Segwitx2 etc...) It almost looks like "attacks" in order to divide us. Now called "airdrops" by the community. Even though they're supposed to solve some of the problems.
All in all, this makes me really worried about btc future. I've been a strong holder since 2014, and I made quite a lot of money with bitcoins, but I begin to doubt now, even though the price is crushing ATM. Please help me keeping faith. Or should I switch to another currency ? Really thinking about ETH recently.
your thinking makes sense. but not to worry, I think bitcoin will last long to take control in the world of digital currency.
but we should not rule out any other coins as they will continue to grow in order to match what bitcoin has achieved even the possibility of another coin replacing the current bitcoin position.
like the ETH, now prices are climbing up and it is undeniable that we should be able to invest other coins, (not just bitcoins) like ETH and others. so we will be able to anticipate if one day bitcoin will get a downturn.