Altcoins Talks - Cryptocurrency Forum
Learning & News => Announcements [ANN] => Tokens/Coins Offerings (ICO, IEO, etc.) => Topic started by: bosshyip on July 06, 2018, 06:36:51 AM
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There are too many reasons, why Bitcoin is not a suitable universal currency even for internet, although it is a great thing and a huge step towards society progress.
1. Bitcoin transaction fees are prohibiting for small transactions. There appeared some altcoins which are better for that.
2. Even with Lightning Network and many other existing and upcoming developments, both the tech design and the economic model of Bitcoin won't let billions of low cost transaction per day. There appeared some altcoins which are better for that.
3. Most transactions in Internet require customer protection and hence refundability. And Bitcoin is not great for that. There appeared some altcoins and services which are better for that.
And this list could go on forever, but it is easier to learn about many different use cases of altcoins. For every proper altcoin you can find out the reasons behind it's idea.
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The most important feature of cryptocurrency is that it bypasses the need for a bank, which i suppose is just another evolutionary step.
As energy will probably become the energy of the future … u reckon ?
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There are too many reasons, why Bitcoin is not a suitable universal currency even for internet, although it is a great thing and a huge step towards society progress.
1. Bitcoin transaction fees are prohibiting for small transactions. There appeared some altcoins which are better for that.
2. Even with Lightning Network and many other existing and upcoming developments, both the tech design and the economic model of Bitcoin won't let billions of low cost transaction per day. There appeared some altcoins which are better for that.
3. Most transactions in Internet require customer protection and hence refundability. And Bitcoin is not great for that. There appeared some altcoins and services which are better for that.
And this list could go on forever, but it is easier to learn about many different use cases of altcoins. For every proper altcoin you can find out the reasons behind it's idea.
Very interesting information. Moreover, crypto is now very wide. It is not only about the currency but much-advanced technologies are developed for the crypto. It is a great investment and trading centre.
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It might not be as wide as we would like to but patience and hodl cause mass adoption is inevitable IMHO who will use a bank ( and most importantly afford the exorbitant banke fees except the wealthiest) if a computer can complete same task for fraction of the cost so enjoy the ride ppl
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The more developed the crypt, the more it becomes fraud... alas, it is...
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You can easily get around the safe side scammers sales
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It is impossible to invest without risk
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I think BTC is only a cryptocurrency icon. To be made a business transaction tool is indeed very bad and indeed the altcoin is better than BTC for the business conditions of the platform. In addition, too high a value on BTC coins will certainly hinder various transactions in the business platform world. BTC is suitable as a unit of value for altcoin coins.
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I think BTC is only a cryptocurrency icon. To be made a business transaction tool is indeed very bad and indeed the altcoin is better than BTC for the business conditions of the platform. In addition, too high a value on BTC coins will certainly hinder various transactions in the business platform world. BTC is suitable as a unit of value for altcoin coins.
That is true.
You have to distinguish the use cases of different tokens.
Bitcoin = Transactions for large amounts of money + store of value
Altcoins = some for small and quick transactions + tokenisation of assets and any other use case that makes sense.
A Ferrari might be good on race track, but it will never be a good truck. Same might go for Bitcoin