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Author Topic: I still believe I am on the right path  (Read 798 times)
yohananaomi
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April 22, 2023, 04:57:13 AM
 #121

You are not too late, you just find the reason to keep supporting Bitcoin, to keep holding your Bitcoin bag. My confidence in Bitcoin is now 100%.
Your belief in Bitcoin is truly commendable. Maybe you got something good from Bitcoin that is why you have so much trust or faith in Bitcoin. But among the digital currencies, Bitcoin is really very reliable. I myself have a lot of faith in this coin because I have already seen many coins or digital platforms where people have lost a lot by investing but nothing like this happened with Bitcoin. Because Bitcoin is never a coin to disappear from the market.
it's not that there aren't any coins that are also good, but as you said that the level of investor confidence in bitcoin is very good, even the best of all existing coins, so if you praise bitcoin, of course it's very reasonable to do that. Your trust is the same as mine, maybe it can be confirmed by all those who invest in crypto, so bitcoin is still the most trusted coin and is the mainstay of all existing coins. Let's hope you are right that bitcoin will never change and become a coin not that disappears from the market, although it can always happen.

It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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April 22, 2023, 07:01:47 AM
 #122

Don't you know that some altcoins are just clones of bitcoin? Some have own development. So there is no any common "altcoins technology". If you talk about technology you can talk about exact product or brunch of products only.

I don't think just some, but all altcoins. I think the idea of altcoins was all copied from bitcoin and modified in different ways. When it comes to cryptocurrencies, I believe that there is only one technology, that is bitcoin, there is no technology in the altcoin market. Because bitcoin was created with the intention of being a P2P payment method, Satoshi did not intend to create a project with tokens to sell for profit like altcoins. Although altcoin projects are constantly introducing new technologies, but the ultimate goal is to sell tokens for profit. So it can't be said that they are creating new technology, they are just creating a pump and dumping market.

Well, I'm not so sure in that. It can be so or near so for multiple projects which are just making another payment processing system. But we can talk about some ideas of using a distributed ledger for improving a privacy level: like sending documents or operating a smart house and some other projects. I'm not sure they'll succeed, but at least they have a potentially working idea which can be implemented with blockchain or DAG or some other distributed ledger solution. And those projects are not just clones of bitcoin, doesn't matter if they can succeed.

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April 23, 2023, 06:53:35 AM
 #123

Maybe he just mean that Bitcoin is somehow old to its age, considering that software gets replaced if not migrated to another language or  at least maintained.

To be honest, I didn't get you either. What are you trying to say here?
Is Bitcoin old? Let's say it's old, considering the time it's here. This one is the first-ever cryptocurrency which still Leading the market. But, What is the point, then? He said Bitcoin is outdated, which poked into my head. Well, No. Over time, We have seen many BIP, including Taproot and SegWit updates.

Developers are always trying to keep Bitcoin updated so users never get bored. SegWit update made Bitcoin Block lightweight, so it can contain more transactions in a single block, making user transactions significantly cheap. There are other BIPs that developers worked on; I may not know what's happening. Regarding software migration, Bitcoin Core is the official software of Bitcoin, and the developers release updates every few weeks. The current updated version is 24.0.1, which you can find from here https://bitcointalk.org/bitcoin-24.0.1.torrent

If you have any point that can back your claim, I am ready to read that. Can you please explain why do you agree that Bitcoin is outdated? 

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April 23, 2023, 04:02:23 PM
 #124

The early you wake up the better, which Bitcoin is 100% sure legit business that someone have to do, through investing and hold for a period of time before think to sell off, in other words, the current price is the right path to buy and hold.

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