Post
Topic
Board Economics
Re: Reality Check on Crypto
by
finaleshot2016
on 17/10/2021, 19:11:11 UTC
Sometimes, this forum thinks that the rest of the world will flock to Bitcoin in droves because of its qualities.

Some people think that every potential user/investor will care about its decentralized features or its high value.
If anyone thinks that every investor in the cryptocurrency market really care about the technical aspect of a project, then it is a wrong concept as majority are here to make a quick profit and they will move on to other ones once they book their profit.

Since you added a poster of Vitalik Buterin, he was always boosting his invention of ETH and he always claimed that it will solve the problems BTCitcoin will never solve from the start and always mocking and now what happens to their scaling project is a comical tragedy as users are spending huge amount in transaction fees because of their inability to scale and still look at their valuation as they are soaring despite their higher transaction valuation.
True, some ETH transactions, particularly NFTs, are already worth hundreds of dollars! Consider that money is already large for certain people, particularly those from third-world nations, therefore it's not a beginner-friendly network, which is why BSC is utilized more than other platforms when it comes to NFTs and other pump and dump schemes. Even though they have already announced the ETH 2.0, it still takes a long time because there are so many cryptocurrency users right now; it should have been done in previous years as they experienced scaling issues in 2017-18; I know it's not easy, but look at TRON and BSC, which are more efficient to newcomers.