Post
Topic
Board Economics
Re: Five reasons 2018 could be the best year yet for cryptocurrencies.
by
BitCryptex
on 28/02/2018, 21:22:44 UTC
2018 might be a good year for some of the major altcoins, but I have my doubts about the performance of Bitcoin. Two of the major things Bitcoin needs to address is transaction speeds and fees. I have read articles about many businesses that have stopped accepting Bitcoin because of how volitile the price is on a minute-by-minute basis. It makes sense to me too. There is always a risk that by the time a transaction for a product has been made and the Bitcoin subsequently traded for dollars that the value has gone down and the merchant ends up losing money. I think now more than ever what Bitcoin needs is stability in its "value". I feel bad for the poor bastards who invested their life savings in Bitcoin when it surged to $20k just to have it shed over half its value in a matter of days. That may not be much to cry about for the Winklevoss twins, but for the common hard working man or woman, that must have really hurt.

If they invested in Bitcoin then they should have been aware of the potential risk. Bitcoin is slowly getting better in terms of scalability. Lightning Network is being developed, it will be used for small transactions that need to be inexpensive and fast. Right now, Bitcoin transaction fee is just 1 sat/b, it isn't really expensive. Valve and Microsoft stopped accepting BTC for some time but as far as I know, it's available again.