Post
Topic
Board Press
Re: [2019-03-21] Blockchains Have Merit, But Cryptocurrencies Won’t Take Over
by
lukew
on 25/03/2019, 17:26:45 UTC
Bitcoin will never make it but the technology behind it will, eventually.

Bitcoin is the most well developed cryptocurrency. It's posible that someone may in future produce a better design, but no-one's doing it now.

Also, your scenrio is biased: yes, if you use that specific app, a $60,000 dollar price would make it unusable. So just use a payments channel based app, fees are then flexible enough ($60,000 BTC price is a great problem to have, isn't it?)


It was just an example, most people want their money to be easy and simple, and free. Don't get me wrong I've been following Bitcoin since it first appeared and have put time and money into developing projects around it. The issue is that even as someone who knows how it works and develops applications for it, I have no real interest in using it as a financial instrument. I considered investing 3 years ago, and I'd have made about £100,000 if I had, but the volitility was the big decider. I could have lost everything I put into it just as easily as making enough to buy a farm. Bitcoin is it's own currency and until it's possible to "piggyback" fiat on the network, it will likely remain a development tool and investment platform.