Hmm I agree! In long term Bitcoin won't hold current value. If you compare it to nearly every other Cryptocurrency out there it really lacks in transfer costs and confirmation speed. I really do not see Bitcoin on top of the list (market capitalization wise) at the end of 2018. Especially for services needing micro-transactions other blockchain technologies will take Bitcoin from its throne.
Although I do not see it retracing as low as $1K USD. It is and will always be the first thing popping in someones mind when talking about Cryptocurrencies or the Blockchain technology.
Yes I agree, but what about if the lightning network is implemented and then bitcoin is able to do what every other crypto can do, only faster and cheaper?
The lightning network sounds great but won’t solve all problems. My understanding is that it’s effectively a point to point ledger that tracks transactions between 2 (or more) participants and only settles on the btc chain when they request it. This is great for transactions between 2 or more participants who regularly trade between them but is useless for one off transactions. I have t seen anything that shows how many transactions this will take off the chain.
Hasn't the lightning network been implemented already with a lot of nodes already launched?
That of course would change everything. But then, in this scenario, the graph above would look very different, in my opinion!
Haha yes, that very well could be the case.
Bitcoin will always have relevance in the crypto space and as long as the overall marketcap goes up, bitcoin will go up with it. But this is the year of the alt coins though
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