What will happen when Bitcoin starts to get mainstream adoption and it gets so much slower, showing that it's technically unable to handle such load?
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What will happen when Bitcoin starts to get mainstream adoption and it gets so much slower, showing that it's technically unable to handle such load?
Satoshi is glowing in the dark.
Thats why I also believe that one of these bitcoin hardforks will take over and improve this. But the problem now is that people dont want to abandon Bitcoin, but I think they should. The fees are way too high and it is slow. Things cant keep going in the direction they are.
Which coin(s) do you ultimately see ‘winning out’ over BTC long term?
I believe Litecoin is a possibility. Ethereum never will, but it will always be a good choice. I honestly believe IOTA is a game changer. I think i can become huge enough to rival bitcoin and possibly surpass bitcoin. But one of these Bitcoin forks will improve Bitcoin enough to win over most investors. Bitcoin Cash had potential, but it burned out because of security issues. There are many forks of bitcoin coming up. Like bitcoin lightning and super bitcoin and bitcoin platinum. There are many possibilities. But the strongest are IOTA Litecoin and a random bitcoin fork. Bitcoin will be around for probably a year or two more and then it will decline. This is my belief. Do you have an opinion?
Litecoin, I don't like it. It was a Bitcoin ripoff with no major value proposition, other than some people getting rich from the inflation of the crypto currency space. Charlie Lee is one of the big defenders of the current capacity limit in Bitcoin - probably because it makes his Litecoin more popular.
What's wrong with Ethereum?
IOTA, it's so far relatively unproven, they've made some weird technical design choices (like using trinary instead of binary, writing their own crypto algorithms from scratch, etc).
I haven't gotten through the whole whitepaper yet, but as far as I understand it every node needs to know the full history of all the coins they process, and every node needs to do proof-of-work, which I think doesn't sound much promising for a currency that's supposed to be used by embedded devices.
The concept doesn't sound much different from sharding, and sharding is on the roadmap both for BCH and ETH.
I haven't heard of the Bitcoin Cash security issue.
Many good points. So which crypto do you see overtaking Bitcoin? It has to happen at some point right?
And what do you believe will happen to the bitcoin price in an hour when the bitcoin futures open up and Wall Street investors enter bitcoin?
No idea. We'll see.
I ultimately think in 5-10 years from now, with the rise of insanely capable AI computer chips (http://fortune.com/2017/12/05/ibm-ai-chip-nvidia/) and/or quantum computing, we’ll be transacting using program(s) we don’t see today. In fact, I was always worried crypto would take too long to be adopted, and would become obsolete before adoption. However, now it’s apparent we’ve reached a critical enough of a mass to begin the s-curve of technology adoption, so in the coming years, I believe prices will rise exponentially, as we saw all of 2017. It’s for these reasons that I believe a “bitcoin/litecoin” partnership could lead the pack, simply because of name recognition, with dash and Monero close behind. In free markets like these, competition is near perfect, so I think the top coins we see right now will all be in play, especially if we develop systems for quick/easy/cheap currency conversions that occur seamlessly as a payment is made.
I think holding all the big fellas right now will get us to the promise land (at least, financially), and then eventually, we’ll move on from crypto (as we know it now) to the next best thing.
Yes. The small ones make quick profits though percentage wise. So I’m trying to get into the bigs and some small ones
ginquitti -You mention BCH had potential. What security issues did it have? BCH provided replay and wipeout protection. Are there new issues with BCH regarding vulnerabilities, or is this based on it's mining difficulty adjustment?