in

/r/cryptocurrency’s attitude has warped significantly in the past year in what I think is a bad way.

It feels like not even a year ago that we all saw Michael Saylor putting over 420 million USD on bitcoin with the knowledge that it will only go up in value.

Now we have several very new users here and the only consensus among everyone is, “BiTcOiN iS oLd TeChNoLoGy” while taking an attitude that is almost entirely dismissive of the reality that Bitcoin created and represents the cryptocurrency community at large.

Months ago people were applauding whatever big tech, financial institution, or insurance company purchased bitcoin and put it on their balance sheets.

The only common message I hear from the collective of users here is, “Bitcoin is old technology. Something will replace it.” Well to respond to that question I have to ask, “Is that **really** what you want?” and I really want you to think about that for a long time. Let’s entertain this for a moment and say “Superiorcoin” will surpass bitcoin‘s market cap.

“Superiorcoin” surpasses bitcoin‘s marketcap. Financial institutions, insurance companies, big tech companies, and the like all stop buying bitcoin. Some of them begin selling bitcoin. But guess what? They don’t buy “Superiorcoin.” instead they buy “Bettercoin” because they think “superiorcoin is too centralized.” and the bank down the street bought Bettercoin last week.

**Is this really the future that you want?** Market chaos and non-unification behind cryptocurrency ideals just because an alt-coin made you 100% profit in one week? All of that would be gone in an instant if your coin were to surpass bitcoin.

I’m not saying all altcoins are worthless, but you need to stop and think about what you are putting your money in to. The level of mania in this sub and neighboring subs recently has been absurd.

**Finally if the enterprise you work at is considering owning bitcoin, you need to know this:** You are browsing the internet using a protocol called TCP/IP and it was invented in 1972. OSI was another protocol released shortly later and was supposed to be “promising” but could not out-perform the network effect of TCP/IP. Hundreds of other protocols followed but did not gain the popularity TCP/IP garnered. Hal Finney, a TCP/IP dev and one of bitcoin‘s early devs said your enterprise would be buying bitcoin eventually.

EDIT: **This 30 second video is literally only the tip of the iceberg of what is possible with taproot activation on bitcoin later this year** – https://youtu.be/AW-7XBrSqCI

Smart contracts, multisig mass adoption, and more will be on their way with taproot.



View Reddit by sgtslaughterTVView Source

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

23 Comments

  1. The truth is people buy a coin then use whatever logic they can to explain either why their coin is the best or to discredit coins they don’t have a large stake in. This is typical but maybe more common now because of all the new money

  2. Bitcoin can’t solve every problem, and it can’t improve every system. We are talking about the future of money, and assets sure – but that is just one use-case amongst thousands. Bitcoin is good for what it is. It isn’t everything though, and it isn’t even many things.

  3. Bitcoin is here to stay for a long time. It is the most secure, decentralized cryptocurrency there is currently and I don’t see that changing in the foreseeable future!

  4. Hey look buddy we all know that btc is by far the most secure meaning there will never be a double spend on btc and the most decentralized meaning no government can stop it. With the further expansion of the lightning network (totally instant and practically free) and not just the tech of taproot which is awesome but also it proves the consensus method is still working. Btc is just on sale right now. When the ltc/doge coin chain fills people are going to be pretty jealous.

    Btc is just getting better and better and it’s got a solid base to build from instead of half assed obvious and easy solutions that only work until they don’t.

  5. >another protocol released shortly later and was supposed to be “promising” but could not out-perform the network effect of TCP/IP

    The beauty of crypto is that you can switch coins virtually effortlessly and instantly. So switching BTC to DOGE, takes almost no effort, and an end user would see no difference in use. ETH on the other hand would be more appropriate to you analogy since there is an entire ecosystem built around it.

  6. Old tech is old tech. It’s The reason people don’t use Walkman’s, or mill their own grain. It has its time and importance. Is it dead? No. It needs to move with the time, or die out, just like everything else.

What do you think?

BNB/USD Gets Rejected After Touching $617 High – Cryptovibes.com – Daily Cryptocurrency and FX News

BNB/USD Gets Rejected After Touching $617 High – Cryptovibes.com – Daily Cryptocurrency and FX News

Cryptopolitan

ROIMAX Cryptocurrency Trading Platform Review