Stablecoins are killing payment systems

[bbc.reporter]

Bitcoin is slow. Personally, I find it easier to use free transactions in the TRON ecosystem, which are confirmed in a few seconds, than to wait for confirmation in the Bitcoin ecosystem. Even these simple statistics tell us a lot.

That's the cost of decentralization

10 minutes isn't a lot if you are worried about decentralization and freedom. A swift can take many business days,  for example.

Otherwise,  you can just use visa. Most cards will even give you 1% cashback for every transaction you make, and they are instantaneous.  

Bitcoin's goal is not speed or low cost, but freedom.

Yes, I myself always say that you have to pay for freedom, but not everyone is ready to pay that much for freedom. Sometimes it's easier to use a centralized stablecoin

https://mempool.space/tv

However, are the people who caused the fees to go very high paid the high fees for freedom? I reckon they paid them because they speculate that they will make much more money than they wasted on fees hehehe. It is not freedom, it is speculation and hype that caused a pump for demand to use bitcoin for NFTs and tokens.

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[zasad@]

Bitcoin is slow. Personally, I find it easier to use free transactions in the TRON ecosystem, which are confirmed in a few seconds, than to wait for confirmation in the Bitcoin ecosystem. Even these simple statistics tell us a lot.

That's the cost of decentralization

10 minutes isn't a lot if you are worried about decentralization and freedom. A swift can take many business days,  for example.

Otherwise,  you can just use visa. Most cards will even give you 1% cashback for every transaction you make, and they are instantaneous.  

Bitcoin's goal is not speed or low cost, but freedom.

Yes, I myself always say that you have to pay for freedom, but not everyone is ready to pay that much for freedom. Sometimes it's easier to use a centralized stablecoin

https://mempool.space/tv

However, are the people who caused the fees to go very high paid the high fees for freedom? I reckon they paid them because they speculate that they will make much more money than they wasted on fees hehehe. It is not freedom, it is speculation and hype that caused a pump for demand to use bitcoin for NFTs and tokens.

While some people make money from token transactions, other people cannot enjoy freedom because it is too expensive. If I really want freedom, then I use Litecoin or Monero, otherwise transactions are very expensive during such periods of time. And Litecoin has always helped me out.

[bbc.reporter]

@zasad@. Hehehe agreed. This is why altcoins were created because there are developers that want to create something that can do better than bitcoin. Fast transactions, more anonymity or smart contracts, these are being developed. However, the bitcoin maximalists will call them scams then they will tell you that the best coin is only bitcoin. They will cancel you if you disagree. A very head shaking behavior hehehe. How do we expect the whole cryptospace forward with only bitcoin?

[OcTradism]

@zasad@. Hehehe agreed. This is why altcoins were created because there are developers that want to create something that can do better than bitcoin. Fast transactions, more anonymity or smart contracts, these are being developed. However, the bitcoin maximalists will call them scams then they will tell you that the best coin is only bitcoin. They will cancel you if you disagree. A very head shaking behavior hehehe. How do we expect the whole cryptospace forward with only bitcoin?

They wanted to create something better than Bitcoin, it is their good attempt.

Unfortunately, they ended with less secured blockchains and more exploitation happened that cause dramatic losses for users on those altcoin blockchains.

Bitcoin blockchain is the best among many Proof of Work blockchains and it is certainly better than Smart contract blockchains.

See How many confirmations are equivalent* to 6 Bitcoin confirmations? (For Proof of Work blockchains only).
https://howmanyconfs.com/

With stable coins, they can be frozen in your wallets, values can de-peg.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

[bbc.reporter]

@OcTradism. Agreed, bitcoin is still better than these altcoins even after their attempts. However, the argument is on the maximalists attitude that everyone should use only bitcoin and no other coin. How can everyone presently send bitcoin cheaply if everyone used only bitcoin. Maximalists should also admit that altcoins have their use cases also.

[zasad@]

@zasad@. Hehehe agreed. This is why altcoins were created because there are developers that want to create something that can do better than bitcoin. Fast transactions, more anonymity or smart contracts, these are being developed. However, the bitcoin maximalists will call them scams then they will tell you that the best coin is only bitcoin. They will cancel you if you disagree. A very head shaking behavior hehehe. How do we expect the whole cryptospace forward with only bitcoin?

I am not a Bitcoin maximalist, and as an investor in this market, I analyze it from the point of view of a profitable investment.
Apart from Bitcoin, there is also a list of good coins that are as reliable as Bitcoin. I wrote about litecoline and monero, but there is also DOGE and Dash. Doge is also a good decentralized coin, unlike Ethereum.

I don't like this shit on Ethereum
https://twitter.com/bloXrouteLabs/status/1736819783520092357?s=20

But for now there are many other relays there, and any transactions will work