Do you see alts have chances against Bitcoins?
Stedsm:
I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?
Hazir:
Hard to speculate about future. We all can see that bitcoin right now is not exactly the best payment option or a currency.
BTC is better suited to be an safe haven asset, capital investment and long term option for hoarders.
Bitcoin is not doomed yet (Japan adoption!), there is still time to fix scaling problem and reach total dominance over altcoins.
But if the scaling war will continue for extended period of time, it is possible that ETH, LTC or DASH will take over BTC dominance.
jorneyflair:
Quote from: Hazir on April 14, 2017, 07:02:54 PM
Hard to speculate about future. We all can see that bitcoin right now is not exactly the best payment option or a currency.
BTC is better suited to be an safe haven asset, capital investment and long term option for hoarders.
Bitcoin is not doomed yet (Japan adoption!), there is still time to fix scaling problem and reach total dominance over altcoins.
But if the scaling war will continue for extended period of time, it is possible that ETH, LTC or DASH will take over BTC dominance.
Exactly, it is very hard to predict what is going to happen in next 10 year in the cryptocurrency world.
I think that LTC lately has grown up, showing it's potential thanks to the possible SegWit implementation.
But as can be observed, ETH has also a big chance to take a lot of the market ( and already has, after bitcoin ).
I also believe that Monero may have opportunity to build-up, thanks to the anonymousness of this altcoin.
After all, there is a possibility of totally new altcoin growing up, and taking big part of the market.
But all of that is just speculation about future, it is only my opinion.
Yakamoto:
Quote from: Stedsm on April 14, 2017, 06:49:21 PM
I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?
I'd say that you're going to be kind of hard-pressed to find any kind of altcoin that has a real fighting chance, but there are a few competitors that can have their own potential to take some of a market share from Bitcoin. For the most part, however, it is far more likely that you're never going to see an alt pass Bitcoin simply because of the services and communities built around Bitcoin. It's hard to break into a market like the one Bitcoin has secured for itself.
amacar2:
I am not a fan of any alts but recently tried ETH to make few micro transactions of 1$ with just around 1cent worth ETH on fees. I find this really helpful and i think i will do same for other micro transactions in future.
However i don't think people will move form bitcoin to other alts completely due to this block size issues because price of all other alts are really volatile and many don't want to take risk of holding large amount of alts in their wallets.
Navigation
[0] Message Index
[#] Next page