I just recently joined Steem and this is my first article - I will keep it short.
BitCoin was a great success in terms of showcasing to the world that a new concept works. However all the articles around its throughput https://goo.gl/TQbM4k and long queues
https://goo.gl/wxjTEh I believe it's life is shortlived.
However, had BitCoin lived a long life there are two things it would have easily achieved:
- Cheap remittances
- Acting as the ONE public BlockChain that other private BlockChains anchor to
Now, I am not saying BitCoin is dead YET.....but the world definitely needs a BitCoin and the day a central bank endorses a digital currency and starts using it for remittance and creates a consortium of central banks using the same - obviously using a mix of Proof of Work + Proof of Stake - then we would have BitCoin 2.0 that would be here to stay.
Many cryptocoin users like crypto because central banks aren't involved. See eCoin from Mr. Robot, for example.
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The purpose behind blockchain technology is to negate the need for centralized management. The central banking experiment is failing miserably and should be left in the dustbin of history.
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Excellent write!
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