Apart from network effect, what does bitcoin have going for it right now?

[rawbot]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

[Xester]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

It is a given fact and probably one of the famous failures in bitcoin and that is the disapproved twins ETF. But let us not mourn with that failure since the price of bitcoin did not really have a big backward movement in price. The good news is that the fight for an approved ETF is not finished. There is another ETF that will undergo the evaluation of the Securities and Exchange Commission of the United States of America and that is SolidX ETF.

[BTCLovingDude]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

when money is involved you can not make rash decisions. taking time is actually a good thing and debates are good too but as long as they are constructive not juvenile attacking of the other team with your eyes closed to everything else.

I was debating with my Dad about it and he said it's now an investment vehicle only.   

not yet it isn't but we may see it happen not so far away.

But the ETF has just been denied. 

ETF had nothing to do with bitcoin. it was a third party setting up a third party way of investing through them.
bitcoin is still what it was. and even if ETF were approved still the rest of the world didn't have ETF!

I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

you are wrong.
and no altcoin can even come close to bitcoin. and this is still true even with all the crap that is going on these days

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

the same thing as always, more adoption, increasing price, more traders trading it and more FUD coming out every day.

[dinofelis]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

Network effect.  First mover.  Pristine origin.

This will take a long time to erode away.

And bitcoin will remain a kind of reserve currency, it can remain at the top of market cap.  But it won't be an affordable currency (to pay with) any more.  Subtly built in from the start.

Bitcoin's crypto tech is the most primitive and clunky.  But it is good enough for a "vault gold".

[Wind_FURY]

It is time to get away from the traditional way of thinking when it comes to Bitcoin. Bitcoin can open up and create new markets just like the Silk Road and the others that have been set up right after it was shut down. The dark markets are growing and it is the future for Bitcoin at its truest sense since they operate outside any law. If you do not believe in that then go buy and invest in something tangible like gold since Bitcoin is only an "investment vehicle".

[pawel7777]

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

* still the highest market cap
* still the highest trading volume
* the first mover advantage/most recognised cryptocurrency
* highest hash rate/most secure (debatable)
* highest merchant adoption
* still considered to be trustless and decentralised (ignoring geographical centralisation)
* still anonymous (if you try real hard)
* still faster and cheaper than most international bank transfers (but this could change soon)
* still proves to be effective as a long-term investment or store of value

That's all I can think of.

But if stalling continues, BTC could easily lose its "No 1" badge, causing serious damage to the entire cryptocurrencies market, which would then be seen as only good for short-mid term speculation.

[maydna]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

bitcoin is on the right way and its still grow and i am sure more people will use bitcoin as their investment. its not a big problem if ETF has been denied because bitcoin itself is design for future and for now bitcoin still can be used for many purpose but in the future, bitcoin will be approve by any of regulation and bitcoin will be use by all country. i think its not right you said that bitcoin is lost identity, if this is true, then why bitcoin is still in high price and more people wants to know about bitcoin and use bitcoin for their purpose. i think bitcoin is more than just the ETF or the others, bitcoin itself is about freedom that every people can have.

[jonald_fyookball]

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

* still the highest market cap
* still the highest trading volume
* the first mover advantage/most recognised cryptocurrency
* highest hash rate/most secure (debatable)
* highest merchant adoption
* still considered to be trustless and decentralised (ignoring geographical centralisation)
* still anonymous (if you try real hard)
* still faster and cheaper than most international bank transfers (but this could change soon)
* still proves to be effective as a long-term investment or store of value

That's all I can think of.

But if stalling continues, BTC could easily lose its "No 1" badge, causing serious damage to the entire cryptocurrencies market, which would then be seen as only good for short-mid term speculation.

Glad someone gets it. 

If you think Bitcoin can't fall from #1, get your head out of the sand!   

[peter0425]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

Did you see the current price of bitcoin after the ETF has been rejected? It didn't affect the price of bitcoin at all. So I don't think it lost its identify and alt-coins could never comes close to bitcoin in terms of market cap and volume trading as post by pawel7777. Yes alt-coins can have they ATH all along, but coming close to bitcoin volumes, I highly doubt it.

 

[jonald_fyookball]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

Did you see the current price of bitcoin after the ETF has been rejected? It didn't affect the price of bitcoin at all. So I don't think it lost its identify and alt-coins could never comes close to bitcoin in terms of market cap and volume trading as post by pawel7777. Yes alt-coins can have they ATH all along, but coming close to bitcoin volumes, I highly doubt it.

 

You don't seem to get it.  The ETF is irrelevant. 

What's relevant is Bitcoin's utility and scalability, which is in danger.

[joshy23]

Yes, all this debate and politics that surrounds it ruining the bitcoin market. They should put things aside so that we, the bitcoin community and user will not suffer the consequences of their action. Because if this roadblock cannot be resolved immediately, a lot of people will lost interest in bitcoin and will go to alt-coins as you have mentioned. Alt-coins volumes are getting huge by the day and I hope will not overtake bitcoin in the market. The sooner they are able to fix it, the better for us bitcoin community.

[spartacusrex]

These 'Scaling Issues' will need to be addressed by ANY coin that actually reaches a certain size. (NO-ONE yet knows if BU can / will work, and whether CORE are right in pushing for a second tier..)

Bitcoin is the only coin that faces these issues ATM, because it'a the only one BIG enough.

If it can't solve them, no one can. (In Full mode - Ethereum has a 60GB chain, last time I downloaded it in November, which grows 5GB/month.. and it's still 'relatively' TINY in terms of actual USE..  that's NOT going to work in the long run..)

Pretty straight forward really.

[Kprawn]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

Well, it needs no aggressive marketing, because it is already well known or familiar with most people. The network affect is no small matter and

other coins or technologies will take years to catch up. Bitcoin has the strongest security and track record and no central figure head that can be

targeted. We also have some of the best developers in the world working on the code/protocol. 

[megynacuna]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

I guess that will be accessibility and global payment processing. I think I agree a bit with you about Bitcoin losing its identity but I hope people will realize this and stop the monetization of the transaction fees .

[cjmoles]

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

* still the highest market cap
* still the highest trading volume
* the first mover advantage/most recognised cryptocurrency
* highest hash rate/most secure (debatable)
* highest merchant adoption
* still considered to be trustless and decentralised (ignoring geographical centralisation)
* still anonymous (if you try real hard)
* still faster and cheaper than most international bank transfers (but this could change soon)
* still proves to be effective as a long-term investment or store of value

That's all I can think of.

But if stalling continues, BTC could easily lose its "No 1" badge, causing serious damage to the entire cryptocurrencies market, which would then be seen as only good for short-mid term speculation.

Glad someone gets it.  

If you think Bitcoin can't fall from #1, get your head out of the sand!  

I am in consent with this evaluation.  I might add that I believe bitcoin has a "keeping up" with innovative solutions problem.  While many hold bitcoin as a means to store wealth, they're ignoring the more utilitarian aspects of the platform....If an alternative platform proves to be more useful, bitcoin can be replaced.  I don't believe it's prudent to sacrifice bitcoin's utility as a vehicle to precipitate exchange for it's ability to store wealth....I think that's where it's heading and I think it's a big mistake.

EDIT:  It really is beginning to look like a Tulip at this point.

[helloeverybody]

If core are scared of ever doing a hard fork then unfortunately bitcoin will never have any other things going for it than it does right now, If we got segwit or BU now i dont know how much that would even do for bitcoin. Its falling behind.

[Vaccinus]

The community is close to civil war,  you can't implement even the slightest changes without months of debate,  bitcoin is extremely slow,  with ever increasing transaction costs.

I was debating with my Dad about it and he said it's now an investment vehicle only.   But the ETF has just been denied.  I think bitcoin now has a lost identity and other coins are going to be right up your asses within a year or two.

So I ask the serious question :   Apart from network effect, what does bitcoin have going for it right now?

Did you see the current price of bitcoin after the ETF has been rejected? It didn't affect the price of bitcoin at all. So I don't think it lost its identify and alt-coins could never comes close to bitcoin in terms of market cap and volume trading as post by pawel7777. Yes alt-coins can have they ATH all along, but coming close to bitcoin volumes, I highly doubt it.

 

You don't seem to get it.  The ETF is irrelevant. 

What's relevant is Bitcoin's utility and scalability, which is in danger.

it's not in danger man, solution are there but not the consensus, the consensus of bitcoin is dangerous i think, it require too much time to take a decision, and in some case like now they will never take any decision, and i think the EFT rejected bitcoin because of the scalability issue as well, they are definitely connected

[Lauda]

Facepalm to OP.
Let's analyze the current top cryptocurrencies after Bitcoin:
1) ETH: Scalability issues greater than those found in Bitcoin. Extremely centralized coin, with no immutability. Effectively a Fed 2.0 coin with the 'too big to fail' DAO situation.
2) Dash: Scalability issues. Fake privacy benefits. Extremely instamined coin; over 20% of existing supply aka a Scamcoin.
3) Monero: Scalability issues greater than those found in Bitcoin. Unprunable; no SPV wallets.

If anything is going to come close to Bitcoin, then it is ETH because the bankers will continue to shill for it because it is effectively centralized.
None of these coins are facing the 'block size debate' because almost nobody is using them for transactions.

[szpalata]

It has everything going for it except the network issues you talked about. I don't think Bitcoin has lost any of its core operational principles except delayed confirmations and high transaction fees.

[Sclaatu51]

It is time to get away from the traditional way of thinking when it comes to mobilautomaten. Bitcoin can open up and create new markets just like the Silk Road and the others that have been set up right after it was shut down. The dark markets are growing and it is the future for Bitcoin at its truest sense since they operate outside any law. If you do not believe in that then go buy and invest in something tangible like gold since Bitcoin is only an "investment vehicle".

Agree thx!!