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Author Topic: Bitcoins: missing the real revolution  (Read 597 times)
gsingh
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January 14, 2014, 11:58:52 AM
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Very good read, one of rare articles on bitcoin!

http://www.thehindu.com/opinion/op-ed/bitcoins-missing-the-real-revolution/article5535348.ece

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August 18, 2018, 02:30:07 PM
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Now Bitcoin is just a digital asset since it has failed as a digital currency.

expedia.com removed bitcoin as payment option.

Not because bitcoin couldn't handle a high amount of transactions without paying a significant amount of transaction fees at the moment, it doesn't automatically mean it has completely failed already.  Bitcoin will continue to be developed  and will evolve positively as time goes by. Technology will move forward whether you like it or not.

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August 18, 2018, 02:35:12 PM
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You are absolutely right. For any tehnokogy to serve and survive the test of time, it's a must for constant development and improvement from it's creation to what it should be able to handle currently. I see Bitcoin in such way and I believe improvement in the lapses will be done soon.




Now Bitcoin is just a digital asset since it has failed as a digital currency.

expedia.com removed bitcoin as payment option.

Not because bitcoin couldn't handle a high amount of transactions without paying a significant amount of transaction fees at the moment, it doesn't automatically mean it has completely failed already.  Bitcoin will continue to be developed  and will evolve positively as time goes by. Technology will move forward whether you like it or not.

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August 18, 2018, 02:40:48 PM
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At present bitcoin transection is very cost at the moment, it doesn't automatically mean. it has completely failed already.  Bitcoin will continue to be developed in the world. Technology will move forward whether you like it or not. Wink Wink
First77
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August 18, 2018, 04:25:31 PM
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At present bitcoin transection is very cost at the moment, it doesn't automatically mean. it has completely failed already.  Bitcoin will continue to be developed in the world. Technology will move forward whether you like it or not. Wink Wink

"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi [bitcoin creator]
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August 19, 2018, 06:15:15 AM
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Now Bitcoin is just a digital asset since it has failed as a digital currency.

expedia.com removed bitcoin as payment option.
Such low bandwidth - seven transactions per second is not present now in any coin or token. Therefore, as a payment system bitcoin is no good. If he does not improve, it is rather difficult to say what will happen to him further.
The use of bitcoin as a means of accumulating the value of a good future for him will not bring, without using the normal capabilities of the payment system, all this digital gold in one day can turn into dust, or rather, there will be no dust, only memories will be.

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August 22, 2018, 03:22:34 AM
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Not because bitcoin can't handle large amounts of transactions without paying a large amount of current transaction costs, it doesn't automatically mean it's completely failed. Bitcoin will continue to be developed and will develop positively over time. I see Bitcoin in this way and I believe the increase in irregularities will be done soon.
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August 23, 2018, 12:51:38 AM
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Take note though that the article was written in 2014 and updated in 2016.

https://www.thehindu.com/opinion/op-ed/bitcoins-missing-the-real-revolution/article5535348.ece

Quote
The strength of cryptocurrencies like bitcoins has little to do with its monetary potential and more to do with its technical potential

So a lot has changed already. And I'm not really sure what technical potential the author is talking about, perhaps scalability issue is not yet a problem. I guess during that time he wasn't aware or probably Lightning Network is not yet functional. And now bitcoin has become more of a speculative asset or monetary potential as what he describes.

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