RE: Alt Coins & Digital Assets Protected Bitcoin
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How is Bitcoin boring? And how has it not scaled? It's the widest used, most transaction sizes, it's got the most wallets, it's got the most distribution, it got the most on-ramps and off-ramps, it's got the most trading pairs.
It is boring in the sense that it used major for one thing--STORE VALUE. most people don't buy bitcoin with the intention of using it for anything else other than speculating (or, as in recent times, store).
i don't think it is the most used if you aggregate the activities of other blockchains. and I am one of the many people who would never have gotten into crypto if bitcoin was the only thing on the menu. there is beauty in diversity
Without Bitcoin all these other coins wouldn't have existed and excitement doesn't mean value.
well, I think that there will be a flipping sooner or later. many are still of the opinion that it is too big to fail but I think otherwise since it is not leading in terms of innovation.
In a nutshell, I feel Bitcoin is falling into the same trap as the system it hopes to dismantle.
Then again, it would be foolish to bet against bitcoin at this point in time. it enjoys the benefit of being the first.
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Lol and the world doesn't need a store of value? I would beg to differ, I think the world is crying out for one, or real estate, bonds, wouldn't be at all time highs, stocks wouldn't have PE ratios of 1000. People are desperate to hold value over a longer period of time and they're using any financial asset to do it, regardless of its fundamentals
Bitcoin is the pristine collateral, designed to hold value over time and space. If that's boring to you that's fine but then you should have fun being poor then lol
How can you compare millions of insignificant transactions to the amount of transaction volume that Bitcoin does? Because some shit chain does 100x transactions more a day of minuscule value makes no sense. In addition, if we compare the growing transactions on lightning, it's already up there with these other chains so both sides of that argument I find as a non-starter
This is also where I think you're thinking innovation is the only metric that measures money, it's not you're discounting network effect and monetary policy as well as the robustness against change. In fact, Bitcoins ability to make it harder to change than something else makes it more secure for people to hold value in it.
I don't care if you want to shitcoin, but I think you should really read up on things before you throw out baseless claims or repeat tropes from what you;ve heard from others and not looked at the counters to your arguments
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which people? who are the people most likely to benefit from bitcoin at this point? there are over 3.5 billion people living on less than $2.5 daily, and you think err bitcoin is the solution for those people? Help me understand how this translates to value for the billions of people across the world?
like I have said repeatedly i am more bullish the technology than the coin.
have fun being rich mate.
all these things can change when another network provides a superior product over time. we have seen this time and time again. it is happening with fiat that has existed forever and it certainly can happen to Bitcoin.
Okay I have tried to keep this civil but I think my comments are not appreciated here so I will refrain from giving my two cents next time. Pardon me, and have a nice day.
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As for millions of poor people having something they can store their savings in thats not debased is a mircale for many poorer people. I am from Africa I think I know both sides of the coin mate, when people make the virtue play its because they don;t have a solid argument. I encourage you to go and learn more about Bitcoin before you formulate an opinon because you're clearly short on how it owrks.
Lol not my fault you don't understand math
You came to comment on my post, no one asked you to, now you get a response you don't want to hear and you cry foul! Typical shitcoiner lol! We all pick our bets and the market will decide