Digital currencies are needed, but bitcoin should not be the front runner.

in bitcoin •  7 years ago  (edited)

Bitcoin was invented, by the cryto people for the crypto people, for the reason to provide secure p2p transactions. 

Blockchain was utilized to provide such secure transactions, and people including academics primarily from the crypto sectors are telling people that Bitcoin is the king of digital currencies.

But the "mining" process which is essential for the blockchain(bitcoin) to work is a pain which limit the widespread usage as well as the structure itself is not hardly robust to real world applications.

With more than 10,000 nodes are running while wasting electricity and the valuable time of so many miners are something to think about.

Also, essentially a digital address without the intrinsic value such as bitcoin should not be used as credible "currency" which is essentially the same as US$ now paying over $400 billion per year for the interest only.

Is there a better way for p2p digital currencies to work other than blockchain that does not require a mining process as well as secure enough to compete with bitcoin with built in intrinsic value which increases over time?

Yes! Look for LondonCoin coming soon.



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