Post
Topic
Board Announcements (Altcoins)
Merits 1 from 1 user
Re: Obyte: Totally new consensus algorithm + private untraceable payments
by
tarmo888
on 27/01/2019, 20:59:52 UTC
⭐ Merited by kaicrypzen (1)
Quote
There aren't many merchants in Ukraine that accept other cryptocurrencies (there are very few for Bitcoin), so it would be surprising to see altcoins accepted there first, but I would look that as opportunity, anybody can become the first merchant to accept Bytes.
Only two coins have sufficient network effects to have the hope of being widely accepted over time only thanks to the efforts of the holders of this coin. The rest of the coins not achieved such a thrust, so we observe their degradation. Their community and adoption is not only not growing, it is decreasing. In their case, the hope is only on the efforts of the team. If the team does not take active steps in this direction, the adoption will never happen. Honestly, i get the feeling that obyte team is not even trying to look for possible partnerships. Either you try, but the product is worse or not better than alternatives. Then i ask myself what the sense of the existence of coins, the main purpose of which is recognized as utopian.

What's the other one besides Bitcoin? Ripple, Ethereum, Litecoin or Dogecoin? These are one of the oldest coins out there, so it is not surprising that they have more network effect.
Did Bitcoin foundation made all those deals that Bitcoin is more accepted than others? No. Obviously the communities are decreasing during the bear market, there was lot of companies who accepted Bitcoin too before the fees went nuts, they discontinued accepting Bitcoin. Many haven't still returned even that fees have gone down and Lightning has become available, many still don't even use native-SegWit (P2WPKH) or pay-to-script-hash (P2SH), but old pay-to-pubkey-hash (P2PKH), which takes longer to be confirmed (I could be wrong about that, but SegWit transactions should be possible to validate faster).
Cryptocurrency companies are not like regular companies where partnerships only happen when deals are made. Cryptocurrencies are open-source, so everybody can become a merchant, you don't need to ask permision for that. If you like the old adoptions-by-deals approach then maybe Ripple is your kind of coin.
Now, during the bear market, it is time to build all those intergrations and those who are ready for next bull-run, benefit from that more.