I am pretty much in agreement, BTC is fun to trade and for now is an o.k. medium of purchase for Alts, but it is a very technologically inferior product to most everything out there. BCH is much better and would serve as a better medium on Bittrex as its faster, cheaper and all around superior. BTC is holding on do the name brand recognition as there really is nothing special about it in terms of cost or performance. Many others can do the same job and better.. Sooner or later investors will figure this out and it will either go into the dirt, or just end up as a somewhat stagnant store of value.
Yeah, but I'm not nearly that clear about BCH either. A hack-job clone of BTC? What's its energy consumption limit going to be? Cause we know it's there, somewhere, eventually, down the line. So why even get on it if it's on a dead end street?
Excellent point.. I think the BTC or BCH or BCG or whatever just needs to be happy to limit itself as a store of value and medium for the purchase of Alt/Next Gen Coins.. In regards to power consumption it is relative in the grand scheme of things and I wrote an article about the specifics on that last month. Long and short of it is that so much is made about the power consumption of BTC but the reality is that mining consumes around 1 percent of the same amount of energy consumed by devices in the US currently sitting in standby mode. Its costly for the miners, but as far as bringing down the world grid; that is not a possibility.
I dont think it is a dead end, but it is a better option than slow and expensive BTC..
No matter what, in the end the newer coin will experience the same problem as BTC. It's the nature of blockchain. It grows larger slowing transactions. Even ETH experienced this with cryptokitties. Miners and nodes couldn't handle the load. Add more miners and modes wouldn't help because the entire blockchain has to be copied and distributed on every transaction. More nodes just worsens the problem because it floods the network with more traffic increasing the slowness.
This is what every cryptocurrency is going to face. A new trend of lighter cryptocurrencies exists where the blockchain is lighterweight, but again...it's a half measure. Eventually, the blockchain reaches a size that it's untenable.
Personally, I think ZenCash with its node design and infrastructure design is very sustainable.
At some point BTC will get so slow, that BCH will start to experience more pumping/dumping. At that point, we'll start to think
It's been said before. I'll say it again. Betamax vs. VHS
That said, even as BCH is a better alternative to BTC, it's not the end or the solution. This may be what's holding it back. There is no immediate need to switch from BTC. Even during the recent market freefall, BTC held its own with a drop less than 20% while alt coins dropped over 30% making it a prime time to purchase altcoins destined for a bounce. Then repurchase your BTC again because after the market retreat, it still hasn't really come back. It just reinforced people's sentiments about BTC.
I look at BCH as a stopgap. The real solution to BTC is a segwit2x, but who knows if we'll ever see that since the faceplant it made in November.
Check this out: https://steemit.com/bitcoin/@modprobe/i-looked-into-segwit-and-here-s-what-i-saw
Sounds reasonable to me, what do you think?
Wow. That is one lengthy read. It'll take me a few to get through that. Thanks for it though. @modprobe LOL. That's almost as pretentious as @r351574nc3
Solid comment and you may be right...