1 Level
6 Review
2 Karma
Review on Bitcoin Diamond by Cerys Jordan
Bitcoin Diamond coin could win over a lot of Bitcoin users with its faster…
Bitcoin Diamond coin could win over a lot of Bitcoin users with its faster transaction times, lower fees and easier access to new users. Bitcoin is a hugely popular coin but it can be quite difficult to use! Many critics of Bitcoin argue that the coin won’t be a valid replacement for normal money until users can make small purchases; quickly and easily.
Pros
- Faster transaction times: Most cryptocurrencies are struggling to reduce the time it takes for transactions to be completed. The Bitcoin network can only process about 2-7 transactions per second (Tx/s). Payment processing services like Mastercard and Visa can process thousands of transactions per second. The BCD team felt that it was time for Bitcoin to catch up! Slow transaction speed.
Cons
- Right now, I am very skeptic towards it. “Cash” and “Gold” made some sense, but this one just doesn’t seem right to me. I agree that they need to fix the privacy issues with bitcoin, but this specific incarnation seems a bit “scammy” to me, somehow. I haven’t researched it properly, though, as it went under the radar for me, somehow, for some time. (That’s one of the reasons I don’t personally trust it.)
