BTC has higher than VISA Tx fees. Transaction times can even take days while Dash (and PIVX) offer 1.3 second transactions for almost 1/100th the cost. BTC has ZERO governance while many coins have built in governance structure. BTC community is toxic, full of censorship and doesn't even stick to its promises. BTC has no privacy functions. SegWit can compromise security and has done little to solve the scaling issue. Year 2017 had negative BTC merchant adoption which had NEVER occurred in any popular crypto.
BTC has no solid future roadmap. It has no Ease of use features such as user names. All these problems have already been solved by other coins and anything BTC can do, Alt can do better.
I'll repeat the last part. Anything BTC can do, Alt can do better + Most of the problems have BTC have been solved by better coins. Swarming around inferior tech IS A MANIA. Fanboys/girls of BTC are nothing but Luddites.
I see your concern and a lot of the people in the comments here who think alt coins will gain more adoption make great points. I was talking to a buddy of mine the other day and he, as a bitcoin fanboy, was also getting worried about the potential of the altcoin takeover. His only glimmer of hope is in side chains.
I don't fully understand the mechanics behind it, but he suggest that bitcoin may 'win', so to speak, because all of the novelty and efficiency that altcoins give us can be implemented in a bitcoin sidechain. The essential idea is that you can use bitcoin or any other side coin to make a transaction on a blockchain other than your own. In other words, exchange Bitcoin for Sidecoin without the need for another party to trade with.
That said bitcoin hasn't been updated in.... 2 years now?
Quoting The Revenant - Movie: When there is a storm, and you stand in front of a tree, if you look at it's branches, you swear it will fall, But if you watch the trunk, you will see it's stability.
If it's not on the protocol level, It's BS (more like patchwork but then there is my philosophy of the good,the great and the trash) I've been repeatedly calling BTC a steam engine that can't do shit.
Dash was created for the sake of governance, privacy and mass adoption and PIVX went don't fix it if isn't broke path. Dash has perfect governance. Bitcoin had years of conflicts and still couldn't properly solve scaling problem. There are 1MB,2MB,8MB block groups while Dash solved the entire issue in matter of hours and already on the way to 400MB blocks. That is efficiency and competence which is why I love Dash (and PIVX copied it so.... love them too.)
BTC has unpaid nodes while Dash pays the masternodes which is a model copied by so many other coins. BTC is simply a terrible long term investment. Dash isn't the only coin I'm a fan of. I love NEM, NEO, Factom,Bytom and many more.
Side chains makes everything more vulnerable, unstable and even emulate bureaucracy. The most important point is that there is simply better tech with better developers and uncensored communities. There is ZERO value in taking part in BTC. That's why I mentioned Luddites. They need steam engines with tons of upgrades instead of bullet trains.
If you need to succeed;You need to be loyal with your friends and promiscuous with your tech and investments.
It doesn't matter. Why? Tulips and Bitcoins are both sentiment based. I'm not saying Bitcoin or cryptos will disappear, they will just evolve and perhaps that evolution can mean that Quantum Computers can decimate current technologies. Who knows exactly? Nobody!
However, those invested in a new mania always say it's different this time. I read a book that said: "Make this year different by making it the same". How true for Manias.
They came and dropped some invalid arguments. Sad sight to see. We don't have to look anywhere else to know that BTC is a bubble waiting for a crash. People just don't know where to look beyond their echo chambers. Guess they are a bunch of anarcho-communists.
I don't wish them any losses, but the toughest lessons are best taught through personal experience. This is the internet, it's hard to find trust. Even harder to convince someone you are trying to steer them in the right direction. It's so easy to get a false sense of confidence when you have made some profits in the past or from time to time. You start to think you've got it figured out. We are incredibly lucky to have found our way here somehow, or perhaps it's providence.
I'm a Buddhist who consider the universe/reality to be purely based on cause and effect/actions and consequences. A person can only show the way. One has to work their own salvation. I'm a very anti-faith person by nature and I always play devil's advocate (My profile pic is from a chracter from psycho-pass which I find 90% relatable).
If anybody is willing to look and try to understand things they will achieve prosperity. I didn't think much of NEM, Hcash, Komodo or even TA. But I kept digging and found their value and worth. I had an open mind. I did genuine research. Universe is fair. It's based on cause and effect. If you don't understand things well enough. Your decisions won't be good enough. I don't have to wish anyone gains or losses. They'll reap what they deserve through their actions.
The funny thing is I've been called out for personal attacks, tribalism, bias, disrespect, being rigid, unable to accept a different opinion..... all for stating the facts. The things is all those uninformed folks and retards are eventually going to get burnt.
The underlying foundation for both was sentiment, as is for all manias. I'm not calling for the extinction of cryptos or blockchain....just that something is approaching to change it. How? I have no idea!
Like, for example, the USD finally collapsing under the weight of TWENTY TRILLION DOLLARS in debt??? Doesn't seem too far-fetched to me. Really appreciate your insight. Is there a particular blog of yours that you would point me to?
Better coins and better awareness will kill BTC. Even ZenCash #161 in market cap at the moment is far superior to BTC. Buttcoin is a bubble. It's bound to pop. There are dozens of reasons for it to pop. One (or even many) of them will be the final snowflake that cause the avalanche.
The feeding frenzy will be much affected by zealots and uninformed noobs. Lots of idiots will dump great coins like the Aug 1st BCH event. Just look at what I had to deal with.
Yep it's a shout out for you @anarchrysalis
Zencash is a competent product. It still has no chance at competing with Dash or even PIVX. But the thing is BTC is utter garbage. Competence is infinitely better than garbage. I even believe blockstream should commit Seppuku in shame for existing in the same world with Zencash.
BTC is a curse, a relic and a piece of garbage. ZENcash is competent. I'm always with competence.
Ha, nice, and thanks! Competence is good in an incompetent world.... and I'm hoping that a foundation of competence can help build something that ultimately moves toward something better and maybe even exceptional.
Is there something fundamental about Zencash that you see a problem with? I don't have any sort of technical background and I just really like the team and their mission of inclusivity and privacy.
Big news out of China with the closing of major exchange BTCChina. Bloodbath out there.
Technology is like flowers. I assume you already know the Moore's law. Just take a look at movies and games released few years ago. Take a look at smart phones and GPUs. BTC is a relic that belong in a museum. There are dozens of coins that a far superior to BTC. If blockchain needs to survive (it does and it will), then the BTC has to go.
Unfortunately we are not free from the curse of BTC yet. It'll drag down even the greatest and even unrelated cryptos down with it. I saw WTC,NEO, Monaco and Komodo scoring some gains during yesterday. It's good to keep an eye on them. Before the end of the next year we'll be free from the shackles of BTC for the most part. Then we can have a real market based on competition.
You want a full list of the ways BTC is different from tulips?
and 20 more differences.
BTC has higher than VISA Tx fees. Transaction times can even take days while Dash (and PIVX) offer 1.3 second transactions for almost 1/100th the cost. BTC has ZERO governance while many coins have built in governance structure. BTC community is toxic, full of censorship and doesn't even stick to its promises. BTC has no privacy functions. SegWit can compromise security and has done little to solve the scaling issue. Year 2017 had negative BTC merchant adoption which had NEVER occurred in any popular crypto.
BTC has no solid future roadmap. It has no Ease of use features such as user names. All these problems have already been solved by other coins and anything BTC can do, Alt can do better.
I'll repeat the last part. Anything BTC can do, Alt can do better + Most of the problems have BTC have been solved by better coins. Swarming around inferior tech IS A MANIA. Fanboys/girls of BTC are nothing but Luddites.
I see your concern and a lot of the people in the comments here who think alt coins will gain more adoption make great points. I was talking to a buddy of mine the other day and he, as a bitcoin fanboy, was also getting worried about the potential of the altcoin takeover. His only glimmer of hope is in side chains.
I don't fully understand the mechanics behind it, but he suggest that bitcoin may 'win', so to speak, because all of the novelty and efficiency that altcoins give us can be implemented in a bitcoin sidechain. The essential idea is that you can use bitcoin or any other side coin to make a transaction on a blockchain other than your own. In other words, exchange Bitcoin for Sidecoin without the need for another party to trade with.
That said bitcoin hasn't been updated in.... 2 years now?
https://gendal.me/2014/10/26/a-simple-explanation-of-bitcoin-sidechains/
Great comment. Thanks for the response.
Quoting The Revenant - Movie: When there is a storm, and you stand in front of a tree, if you look at it's branches, you swear it will fall, But if you watch the trunk, you will see it's stability.
If it's not on the protocol level, It's BS (more like patchwork but then there is my philosophy of the good,the great and the trash) I've been repeatedly calling BTC a steam engine that can't do shit.
https://steemit.com/bitcoin/@modprobe/i-looked-into-segwit-and-here-s-what-i-saw
Above is a very informative post that received many upvotes. Please read it. SegWit won't do anything significant for scaling. Lightning networks are not a protocol level developments.
Dash was created for the sake of governance, privacy and mass adoption and PIVX went don't fix it if isn't broke path. Dash has perfect governance. Bitcoin had years of conflicts and still couldn't properly solve scaling problem. There are 1MB,2MB,8MB block groups while Dash solved the entire issue in matter of hours and already on the way to 400MB blocks. That is efficiency and competence which is why I love Dash (and PIVX copied it so.... love them too.)
BTC has unpaid nodes while Dash pays the masternodes which is a model copied by so many other coins. BTC is simply a terrible long term investment. Dash isn't the only coin I'm a fan of. I love NEM, NEO, Factom,Bytom and many more.
Side chains makes everything more vulnerable, unstable and even emulate bureaucracy. The most important point is that there is simply better tech with better developers and uncensored communities. There is ZERO value in taking part in BTC. That's why I mentioned Luddites. They need steam engines with tons of upgrades instead of bullet trains.
If you need to succeed;You need to be loyal with your friends and promiscuous with your tech and investments.
It doesn't matter. Why? Tulips and Bitcoins are both sentiment based. I'm not saying Bitcoin or cryptos will disappear, they will just evolve and perhaps that evolution can mean that Quantum Computers can decimate current technologies. Who knows exactly? Nobody!
However, those invested in a new mania always say it's different this time. I read a book that said: "Make this year different by making it the same". How true for Manias.
@davebrewer and @itsshowtime007 - Come back to this thread in a week or two and remind everyone why you always want to hodl please.
They came and dropped some invalid arguments. Sad sight to see. We don't have to look anywhere else to know that BTC is a bubble waiting for a crash. People just don't know where to look beyond their echo chambers. Guess they are a bunch of anarcho-communists.
I don't wish them any losses, but the toughest lessons are best taught through personal experience. This is the internet, it's hard to find trust. Even harder to convince someone you are trying to steer them in the right direction. It's so easy to get a false sense of confidence when you have made some profits in the past or from time to time. You start to think you've got it figured out. We are incredibly lucky to have found our way here somehow, or perhaps it's providence.
I'm a Buddhist who consider the universe/reality to be purely based on cause and effect/actions and consequences. A person can only show the way. One has to work their own salvation. I'm a very anti-faith person by nature and I always play devil's advocate (My profile pic is from a chracter from psycho-pass which I find 90% relatable).
If anybody is willing to look and try to understand things they will achieve prosperity. I didn't think much of NEM, Hcash, Komodo or even TA. But I kept digging and found their value and worth. I had an open mind. I did genuine research. Universe is fair. It's based on cause and effect. If you don't understand things well enough. Your decisions won't be good enough. I don't have to wish anyone gains or losses. They'll reap what they deserve through their actions.
The funny thing is I've been called out for personal attacks, tribalism, bias, disrespect, being rigid, unable to accept a different opinion..... all for stating the facts. The things is all those uninformed folks and retards are eventually going to get burnt.
Tulips are flowers...
Bitcoin is technology and the blockchain...
The underlying foundation for both was sentiment, as is for all manias. I'm not calling for the extinction of cryptos or blockchain....just that something is approaching to change it. How? I have no idea!
what do you mean that "something is approaching to change it."?
An event, news, episode, technology, government intervention...it could be anything.
Please read my previous blogs and it'll make more sense.
Like, for example, the USD finally collapsing under the weight of TWENTY TRILLION DOLLARS in debt??? Doesn't seem too far-fetched to me. Really appreciate your insight. Is there a particular blog of yours that you would point me to?
Better coins and better awareness will kill BTC. Even ZenCash #161 in market cap at the moment is far superior to BTC. Buttcoin is a bubble. It's bound to pop. There are dozens of reasons for it to pop. One (or even many) of them will be the final snowflake that cause the avalanche.
It's going to be a feeding frenzy on alt coins this time around.
The feeding frenzy will be much affected by zealots and uninformed noobs. Lots of idiots will dump great coins like the Aug 1st BCH event. Just look at what I had to deal with.
https://steemit.com/@vimukthi/recent-replies
Their loss is our gain, just as our losses are someone else's gain. The true nature of the free market. Round and round we go.
Is that Zencash shout out for me? :) You know I love it @vimukthi!
Yep it's a shout out for you @anarchrysalis
Zencash is a competent product. It still has no chance at competing with Dash or even PIVX. But the thing is BTC is utter garbage. Competence is infinitely better than garbage. I even believe blockstream should commit Seppuku in shame for existing in the same world with Zencash.
BTC is a curse, a relic and a piece of garbage. ZENcash is competent. I'm always with competence.
Ha, nice, and thanks! Competence is good in an incompetent world.... and I'm hoping that a foundation of competence can help build something that ultimately moves toward something better and maybe even exceptional.
Is there something fundamental about Zencash that you see a problem with? I don't have any sort of technical background and I just really like the team and their mission of inclusivity and privacy.
Big news out of China with the closing of major exchange BTCChina. Bloodbath out there.
What is Seppuku? Is that like Hari-kari?
Technology is like flowers. I assume you already know the Moore's law. Just take a look at movies and games released few years ago. Take a look at smart phones and GPUs. BTC is a relic that belong in a museum. There are dozens of coins that a far superior to BTC. If blockchain needs to survive (it does and it will), then the BTC has to go.
Great feed, nice analystic
you are a genius my friend.
@haejin Thanks for sharing. Love it.
Will hodling altcoins have the same effect when the 'thing' occurs?
Unfortunately we are not free from the curse of BTC yet. It'll drag down even the greatest and even unrelated cryptos down with it. I saw WTC,NEO, Monaco and Komodo scoring some gains during yesterday. It's good to keep an eye on them. Before the end of the next year we'll be free from the shackles of BTC for the most part. Then we can have a real market based on competition.