If Bitcoin Is Old Tech But....

[john_cm]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

[DeathAngel]

Old Tech, lol. Bitcoin has only existed since 2009, the network isn’t bloated any more since it stopped being spammed by shitcoin enthusiasts Ver & Jihan Wu. The time to scale will come but that time isn’t now. Most otyer cryptocurrencies are pump & dump shitcoins, run by scammers.

[kryptqnick]

If Bitcoin is old tech, hard to scale, and runs on a bloated network, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

There are no good alternatives. Other Blockchain-based cryptocurrencies will have essentially the same problem, maybe just a postponed version of it. They will also have a smaller community, weaker team of developers and less worldwide recognition. Then there's DAG technology that in principle promises to solve the scalability issue. If Blockchain is cheap, fast and easy at first, but it all gets harder as the community grows, DAG promises a bright future, but instead has problems on the initial stage. The problem is that people tend not to find something that's bad but might get better in the future as appealing, so while there are some DAG cryptos like IOTA, they are not getting too popular. And they have their own buggy problems.

[mk4]

1. The "old tech" argument is only being used mostly by shitcoiners who are desperate to pump their bags. Bitcoin is the cryptocurrency project that's most adopted, and the most worked on project.

2. Blockchains are slow, hence why we have layer 2 solutions.

3. Though I'm not 100% sure what you mean here, but Bitcoin's network is "bloated" because people actually use it.

4. Moving to other cryptocurrencies is just going to sacrifice decentralization and security for faster transactions and cheaper fees. And not to mention that most cryptocurrencies are fast simply because no one uses most of them.

5. It sure is enjoying the benefits of being one of the first, and for one good reason: because it's actually the most successful, and for good reasons.

[joniboini]

Nobody is forcing you to use bitcoin, and I doubt the community is forced either. If you don't wanna use it then you can move one, and tried to compete with the bitcoin chain. Old or young doesn't matter in crypto, or if you want that to count, then factoring the security of the network must be included too.

Simply because something started earlier than everyone, doesn't mean it's no longer good.

[hatshepsut93]

If Bitcoin is old tech, hard to scale, and runs on a bloated network, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

Because there is not a single coins that actually solves this problem. There are coins that claim to have zero fees, thousands of transactions per second, lightweight blockchains and so on, but it all comes at the price of decentralization - you can't run your own node or it's extremely prohibitive, so you can't verify the blockchain on your own and have to trust others. This is more like a bank than cryptocurrency, and if you're going to use something centralized, it's better to pick an actual bank that might be held accountable, over a coin that can scam you any minute.

[witcher_sense]

If Bitcoin is old tech, hard to scale, and runs on a bloated network, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

Bitcoin is hard to scale because it is secure and decentralized. There is no cryptocurrency that solved scalability trilemma yet. Bitcoin has survived because when everyone realized how important and valuable it was, it already had robust security and high level of decentralization, it is very difficult to attack and destroy bitcoin network now. If some cryptocurrency is suddenly better than bitcoin it will be very hard for it to survive the hackers attacks, because it won't be widely spreaded.

[Yaunfitda]

If Bitcoin is old tech, hard to scale, and runs on a bloated network, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

How secure are those alternatives though? And what cryptocurrency you think that solves these challenges? Fork coins? Alt coins? So I would say that stability is far the reason why people prefer bitcoin over any other altcoin we have in the market.

[Yatsan]

Old Tech, lol. Bitcoin has only existed since 2009, the network isn’t bloated any more since it stopped being spammed by shitcoin enthusiasts Ver & Jihan Wu. The time to scale will come but that time isn’t now. Most otyer cryptocurrencies are pump & dump shitcoins, run by scammers.

Maybe he is putting himself in the future where he sees bitcoin as an old tech, that's why he called it old even it has been only around for 10 years.

To be fairly honest, there are lots of cryptocurrencies that is better in some aspects of bitcoin like the speed of transaction, case uses etc. like ethereum why only people keeps choosing bitcoin because it has already a reputation in the market after being the introduced cryptocurrency, it also has 21m limited supply (the scarcity) and has more liquidity than ethereum, but on the other hand 3 to 5 years from now we'll able to see ethereum platform being adopted by various company for digital payments.

[btccoffee]

I think this is too early to say bitcoin is an old tech because bitcoin is just starting to reach the world if you already here back in 2017 only bitcoin become too famous around the world when the price goes up like a rocket at 20k. That was just more than 2 years ago since that happen around 4 quarter of the year 2017. I agree with you that there are so many new coins and tokens out there that can compete with bitcoin or even faster, lower in fees and more but still bitcoin is the best among all of them.

[Vatimins]

     Although you can say that Bitcoin truly has the benefits of being the first, that is not the reason alone why people prefer it more than other alternative coins out there. Also, there are a lot of misunderstood details about bitcoins on your side. Bitcoin is not that old. It is not that bloated. And scaling, is something that is not impossible to happen to bitcoins just not today.

     Now if I had to choose on which is the most popular reason that makes bitcoins stand to this day, it would be it's popularity. This is because if you try and ask around, most of the people will answer that bitcoin is the first crypto currency that they have heard of and the very first they used since it is more famous than others which makes it easier to get and to trade.

[john_cm]

Nobody is forcing you to use bitcoin, and I doubt the community is forced either. If you don't wanna use it then you can move one, and tried to compete with the bitcoin chain. Old or young doesn't matter in crypto, or if you want that to count, then factoring the security of the network must be included too.

Simply because something started earlier than everyone, doesn't mean it's no longer good.

 I am not saying Bitcoin isn't good, my argument however is that they seem to be other faster and more scalable blockchains in existence right now.

[carlfebz2]

Nobody is forcing you to use bitcoin, and I doubt the community is forced either. If you don't wanna use it then you can move one, and tried to compete with the bitcoin chain. Old or young doesn't matter in crypto, or if you want that to count, then factoring the security of the network must be included too.

Simply because something started earlier than everyone, doesn't mean it's no longer good.

 I am not saying Bitcoin isn't good, my argument however is that they seem to be other faster and more scalable blockchains in existence right now.

Well, i cant deny that you do have the point but still the big support do still stick out with bitcoin.Why? Its simple.. because it already gives out on what most people do need.

No matter how many coins do pop out and claiming to have better tx speed,tx fee etc. . The community does know on which one would be main supported in the end which is BTC itself.

We can look for other alts but this one would be on the main purpose of investment.

[Oasisman]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

The benefits of being the first isn't arguable anymore.
Tx speed and scaling problem with Bitcoin can be fixable, and switching to other alts ain't gonna be the solution.
If you have forgotten, Bitcoin was being created to be completely decentralized and secure. Some alts sacrifice the very fundamental feature of Bitcoin to boost transaction speed.
Not to mention 100% of alts are just a copycat of Bitcoin, trying to top Bitcoin.

[Twinkledoe]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

The benefits of being the first isn't arguable anymore.
Tx speed and scaling problem with Bitcoin can be fixable, and switching to other alts ain't gonna be the solution.
If you have forgotten, Bitcoin was being created to be completely decentralized and secure. Some alts sacrifice the very fundamental feature of Bitcoin to boost transaction speed.
Not to mention 100% of alts are just a copycat of Bitcoin, trying to top Bitcoin.

Even if they try to beat bitcoin in terms of performance, they can't beat its popularity of usage. Up until now, no one has come close to the popularity of bitcoin. Ask a non crypto user and ask if he knows crypto, and they will ask if it is bitcoin? The first thing that will come up to their minds is bitcoin. And try asking about other alts, and they don't know about them. So yeah, I don't know what is the intention of the OP here but definitely btc can't be beaten yet by other alts.

[Rengga Jati]

In what way you can judge that Bitcoin is old tech? For me, it is still new tech and even many people still don't know about it. How can we conclude it as an old way! Anyway, until now, we cannot find any altcoins better than Bitcoin that solve all problems on Bitcoin. So, it is nonsense if we want to focus on other crypto coins. Or you already have a better coin than Bitcoin? Tell me, please..  

[Oceat]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

You really don't know what you are talking about I guess you can fool some newbies with this kind of marketing but not us who knows what is Bitcoin and its capability. Bitcoin is just 10 years old how could you say an old tech like that? And FYI many have tried to imitate Bitcoin by making tons of shitcoins but they always failed once they belong to the centralized digital currency.

[Yamifoud]

You are wrong...
Who complaints that the Bitcoin transaction is slow? Who says that Bitcoin technology is old already?
There is no other Bitcoin than this the Old one (as you say). Yeah, we can create a lot of altcoins but not another Bitcoin.

We don't need to be FUD in here if we don't believe and trust this technology. Bitcoin is just a 10-year-old baby and it already showing great and amazing results. We have the dumps and ups but people are still happy with this, don't you ever know that? I hope you don't mind this but to consider reconciliation rather than to think wild.

[famososMuertos]

There is something that always rejuvenates bitcoin, TRUST!

Trust started with just two people and now there are millions, the improvements that some ask for, may result in a loss of Trust, in fact some changes have emerged, but with all its effects, Trust remains.

Consensus is the improvement that can take bitcoin to the next level and only if necessary to improve Trust!

[Kabul]

If Bitcoin is old tech, hard to scale,  and slow transaction speed, why don't we turn our focus to another cryptocurrency which solves these challenges? Is Bitcoin just enjoying the benefits of the first? How long would this be?

Bitcoin is old, yes, no one can deny that but its tech isn't old. The technology that created Bitcoin was an evolution that may change the world someday and Bitcoin is still inspiring other currencies to move forward and discover new fields. Moreover, people still believe in Bitcoin rather than other currencies because of its old age, it's truth. Time has proven that Bitcoin is truth worthy and no other currencies can take its first place yet.