Bitcoin Is Losing Dominance (Should We Care???)

in bitcoin •  7 years ago 

bitcoin-crashing.png
The Bitcoin I remember had low fees, was peer-to-peer digital cash, was on a path to become a borderless currency. It simply isn't that anymore and we are no closer to having a world currency that people can easily use to purchase things, send money back to their family, and feel safe that the value in their life isn't being eroded away.

I would love to see Bitcoin get its act together but why would we expect any change when we haven't seen real progress for a couple of years when it would be so simple to just fix the problem.

I'm ready to move on. Whether it is STEEM, DigiByte, DASH, Monero or something else. We need to just move forward with a network and community that is ready to scale and achieve absolute freedom!

I'm not selling my Bitcoin holdings though! ....... I just can't move them or suffer a savage fee. :-(

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  ·  7 years ago (edited)

We dumped Bitcoin at it's recent peak and I fully expect the old dinosaur to crash and burn this year...

I predict it will slide under $10K within a month and never go above $20K ever

I beg to differ with your analysis specially the part of 20k. i think it will go above 20k for sure, maybe as high as 35k sometime this year too. however you are right about the 10k, it will go below 10k may even break 5k because it has been like that since the beginning. Right now when you mention Crypto to 10 people, half of them will assume bitcoin, because thats what the heard of. it will take a while but eventually bitcoin will lose its dominance.

  ·  7 years ago (edited)

I know what you mean about n00bs thinking crypto means Bitcoin, but more onto it people like the Koreans are moving into the picture now and they are not going to be suckered by Bitcoin.

Actually they are right into Steem, hence the price rise today! Cool...

New Korean supercar:

I'm going to have to look more into that supercar.

After yesterday in cryptos and Steemit we can probably all afford one :)

https://www.motor1.com/news/22254/first-korean-supercar-gets-ready-for-launch/

It is tough to say. I was caught off guard by the run that it made for sure and it is all a lot of people know but it needs to adapt.

I think it can go higher than 20K because of all the n00bs and gray beards out there wanting in.

Bleh, Bitcoin was the first but it is far from the best. Gen 1 tech.

We are well into Gen 3 blockchain and soon will have Gen 4. Time for coins with use behind them (like Steem) to be the big dogs.

I agree! If they would just scale Bitcoin then I would be fine with it being Gen 1 and still on top....... but they don't just do the easy stuff to move it forward. It is crazy.

Yes - the amount of transaction fees are probably in Bitcoin's favor at the moment. Nothing can be moved around.

I don't even use BTC other than for buying and selling on exchanges, that's really the only purpose it serves for me. Transaction fees are outrageous, transaction time is ridiculous. Literally anything is better than BTC if you are actually needing to transfer it in any way. At this point Im actually glad I dont have any BTC in an offline wallet, it's useless if you can't (or are unwilling to pay to the fee to) transfer it anywhere.

I agree. It is practically useless in a lot of respects. If the exchanges would add other Fiat to crypto pares that would change the situation. Then they could scale or keep losing ground.

Digital Gold they say... Lightning Network they say...

hehe

Yeah..... I have been hearing about the Lightning Network since the beginning of 2016. We will probably be hearing and dreaming about it for 3 or 4 more years! LOL Meanwhile Bitcoin might still climb to 30K + prices in 2018. That is all the n00bs know around here. LOL

everything will change after the end of the year

your post is very interesting.
but I want to ask you, how do you think about the development of 2018 bitcoin price in the future?
I just want to survey some people

I think the price will keep going up even if Bitcoin doesn't work well. That brand name is so strong and that is all the general public knows about. I could see it going to $30,000 in 2018 or more.

but the confidence people have in bitcoin being the pioneer will take a little bit of time to wear off. currently most exchanges trade alt coins for bitcoins, that means it will not be an immediate change. we shall gradually see more exchanges providing more options before we see btc losing dominance.

I agree with that. It is super annoying to have to send LTC or ETH to an exchange so that it will go faster and not have as high of a fee just to convert back to BTC to buy some other alt coin.

Yeah to say I'm disappointed in btc is a understatement .....

It is like we are all putting up with a problem child right now. LOL

True dat

I hope bitcoin will change the price of the price increases. Don't worry.

I'm HODLING for sure. But I also hope that BTC will get its act together.
By the way, Brian, I know you are into space stuff, so you should check out my friend @fredrikaa and his posts!

Awesome, I just followed him!