You may now ask you, what is he talking about?
You will probably say that Bitcoin technology ist outdated..
But here are some reasons why I believe in the big future of Bitcoin!
(Please note that this is my opinion, it will be probably wrong)
So first of all, let's talk a little bit about Proof-of-Work.
You may know that Proof-of-Work is a simple process, where coins get mined with hash power.
So the problem is also simple, you receive coins from mining when more people are going to mine the power consumption gets high. It's a good idea in theory when more people are mining the network gets safer.
But in reality, we have this huge problem of power consumption.
Bitcoin is also not good compared to others in things like transactions per hours.
If you say that Bitcoin is outdated you will be probably right with your opinion.
There are more coins that do it better.
Things like Proof-of-Stake, for example, working great, with less power consumption!
We only have to look at Neo, Neo works with Proof-of-stake and it works great.
Other Coins are also working on it, like Ethereum.
But there are some things that often gets lost when we speak about crypto.
Crypto stands for decentralism, and crypto should be for all and that's worldwide!
A big point for Bitcoin is in my mind the community, the decentrality and the dream of a payment network without any bank. But what does Bitcoin do other than all the other coins?
I believe in the future of this coin because it works democratical, if more than 80% of the community is for a change, it will happen. The problem here is, it takes a long time to develop and change something.
The good thing about this is that no one can change the system alone, so we can say its from the people to the people!
That's the difference to a coin like XRP (Ripple) where we have an organization behind it...
Maybe the process of developing gets faster, but we only have a few people who can control everything in the network.
That's not in the sense of crypto I thing!
We also have the problem that this organization is responsible for everything that happens.
They also could ruin a coin.
The community, the people who are using it, that's the kind of thing that makes Bitcoin great.
Yes, of course, there are many better coins... I also believe in others.
It's difficult to see Bitcoin as money, there are more coins that can do it better.
I believe in Bitcoin as a thing like gold, probably as a replacement for gold!
Don't get me wrong, it's also a great payment method. But without a stable price its difficult for normal payment.
Maybe in the future Bitcoin can get also a big currency, when more people are in and the price is stable.
And to the problems that we have, I believe in the development and the future.
Things are coming to us like the Lightning Network, that should solve the transaction problem.
More things will come, that make this coin also better!
A big point is also the fame of this coin.
If we talk about Crypto everybody will think about Bitcoin in this world! That's also a huge point for mass adaption.
So, one problem is left, the proof-of-work...
At the moment we don't have a real solution, we also have a problem with ASCI Miners who can thread the aspect of decentrality. But also here things are getting better, company a working on better miners, who will have less power consumption. In the future, we maybe have also a solution for that!
The Power consumption is a huge problem, maybe the biggest problem at the moment, but when people criticize that aspect of bitcoin there comes the fact in my mind that I don't wanna know how much power our worldwide payment systems needs! You should imagine all these banks and computers, all the money that gets printed and everything beyond!
I would say that Bitcoin doesn't need that amount of power and resources!
(in fact, I don't know, that's only my point of view)
But I believe that we also can solve this problem in the future to a point that no one can criticize this aspect.
In summary i would say
Bitcoin will be always a huge player in the crypto world, maybe there are some coins that can do it better.
Maybe we will pay in the future with another currency.
But Bitcoin will be always there! Probably as a thing like gold, maybe as a currency.
And that's because of it's community and it's decentrality!
I also say sorry for my english, it's not my native language!
It's my first post here on steemit
and i am looking forward to talk to you in the comments!
HODL!
I agree with you
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very good post
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