My reasoning:
* Each transaction in Bitcoin costs hundreds of time more than a credit card transaction to process. (currently this is subsidized by inflow of capital into the eco-system, so users haven't felt the full effect).
* Hundreds of millions of dollars are paid to mining hardware vendor and electricity company. This will continue year after year, and only will grow more and more as Bitcoin grows bigger. The Bitcoin community is being bled dry. The price action this year shows that even with massive amount of big name adoption and good news, the inflow of capital is having trouble to keep up with the insane surge of mining cost.
* There are better ways to secure the network, for example Bitshares's DPoS system. Money is re-invested into the eco-system and community, instead of paid to hardware vendor and electric company.
* If Bitcoin doesn't drop PoW and embrace the much more efficient DPoS system. I can see Bitshares eventually overtake Bitcoin. Simply because Bitcoin eco-system is bleeding hundreds of millions of dollars each year, and the DPoS re-invests the money and grows the eco-system/community each year.
Btw, you can hold BTC in Bitshares
* Each transaction in Bitcoin costs hundreds of time more than a credit card transaction to process. (currently this is subsidized by inflow of capital into the eco-system, so users haven't felt the full effect).
* Hundreds of millions of dollars are paid to mining hardware vendor and electricity company. This will continue year after year, and only will grow more and more as Bitcoin grows bigger. The Bitcoin community is being bled dry. The price action this year shows that even with massive amount of big name adoption and good news, the inflow of capital is having trouble to keep up with the insane surge of mining cost.
* There are better ways to secure the network, for example Bitshares's DPoS system. Money is re-invested into the eco-system and community, instead of paid to hardware vendor and electric company.
* If Bitcoin doesn't drop PoW and embrace the much more efficient DPoS system. I can see Bitshares eventually overtake Bitcoin. Simply because Bitcoin eco-system is bleeding hundreds of millions of dollars each year, and the DPoS re-invests the money and grows the eco-system/community each year.
Btw, you can hold BTC in Bitshares
It's so sad to see a Legendary member with this kind of tactics to try and pump bitshares
If you want to criticize bitcoin , do it without praising a system that will turn to dust long before POW will show any weakness.