1 Level
1 Review
12 Karma
Review on Bitcoin by Colby Androus
Bitcoin CAN work. The question is if the people leading the charge will let it…
Bitcoin CAN work. The question is if the people leading the charge will let it. We could see a time where people abandon Bitcoin for the ever-adapting alternatives.
In one future, Bitcoin is old standby of the crypto world: not amazing at anything, but reliable, popular and good enough at everything.
In another future, the people at the helm of the Bitcoin ship let greed sink the whole enterprise. The entire industry is growing. While a rising tide lifts all boats, Bitcoin might not fix its leaks before the tide comes in.
Pros
- Most popular crypto, something like the front-runner and backbone of the entire crypto market. Easy to buy with fiat currency. While still not that easy, for sure the easiest in the market. Big potential. Many people trying to develop for and "fix" Bitcoin. If only a few new technologies were implemented, the majority of Bitcoin's problems could be fixed.
Cons
- In its current state, it doesn't really have very many use cases. Digital gold? I guess. That's not what it was designed to be, but that may be what it ends up being relegated to. Here's why: The base technology doesn't process enough transactions to be useful. The fees are absurd. Intense political strife and many very vested interests stop Bitcoin from reaching its potential. Miners and businessmen making money hand-over-fist don't want to implement the technology that would fix the problems above because it would make them less money.
