Quote: (11-09-2017 06:27 PM)HardcoreSexpatMotherfucker Wrote:
Check this out: Dash 12.2 Update Doubles Block Size, Lowers Fees, As Bitcoin’s Segwit2x Fails
Name checks out.
I think many miss the point with cryptos. "cash" or "buy your coffee with" cryptos will struggle with their direct substitutes, i.e. visa, master card, fiat.
It's more likely that visa and master card will launch their own crypto. Alt coins like bitcoin cash and dash won't beat these massive entrenched entities.
The reason why bitcoin will thrive is because its competition is gold and standard bank accounts. It beats gold because its scarcity is fixed forever, its transferable easily and its storage cost is negligible. It beats bank accounts because your money appreciates as you store it. Plus, it is not lent out by a bank, which is also at risk of collapse with its fractional reserve model.
The only things driving the alt coins is greed, hope and a long shot that one coin, some time, will do something valuable.
The comparisons of the crypto bubble to the dotcom bubble are not apt. There are similarities but we're dealing with another new paradigm here.
Of course, shills like you are free to pump your alt coins in the hope that you sell before they crash.
Why is bitcoin different in this sense? Well, one, it has a use case currently in action (storage), two, it has been through test after test, and challenge after challenge, and, three, it has nine years of confidence behind it.
Moaning about high fees and low transaction times is missing the point. Bitcoin has evolved beyond that. Like I said before, you don't use your gold to buy your coffee. You use your worthless, depreciating fiat for that.
If the alts crash, bitcoin will thrive. If bitcoin crashes, the alts will die.