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RE: Bitcoin's price is at a critical crossroad
I really hope for Cardano (or even XRP, ETH) to step up and replace BTC soon. The thing is, that the coin that gets added as the next gateway currency with trading pairs at the exchanges, will win the race. Interesting to see, how influential the exchanges are in the end. Even looking at the impact of Coinbase is stunning.
ADA will be big in the long term. Good call. I wish that even 10% of the folks posting would take the time to read the ADA whitepaper. Get themselves at least marginally educated.
True, but this is the case with every coin/project out there. Just have a look at the Telegram groups and even if there are sophisticated users and communities, as soon as some coin goes up, you mostly get people coming in who ask "when moon?","when lambo?" and "where can I buy?". Sometimes I have the impression, that 90% of all investors have absolutely no idea what they are buying into ;)
This is abs true:
Absolutely! The danger with having a real product and value in the cryptoworld though is, that then people will need to understand, what it´s all about and not just live from the hype. Also if the product does not work out perfectly from the beginning, people will suddenly doubt it and scream "scam" all over, while they should do so in totally worthless shitcoin projects. Well, I guess, this is how it is at the moment....
THere are better alternatives to Ripple with much faster transaction proccess. Bitshares, ,per their website, process 60,000 tps vs. ripple 1,500 tps.
In Ripple, ONLY institutions can become a "validator" (processor of transactions in Ripple network). Every server processes every transaction according to the same deterministic, known rules.
However, in Bitshares (BTS) ANYONE can supposedly become a validator ("witness"). The stakeholders (i.e. BTS holders) can elect any number of witnesses to generate blocks. Each account is allowed one vote per share per witness. To me BTS does the same things as Ripple but faster and in a more decentralized and democratic way (I know this is not an issue with some people but I rather not go on the same path as current financial system just with some shiny tech names in it).
https://steemit.com/bitcoin/@ka82/what-s-the-difference-between-ripple-closed-permissioned-blockchain-vs-bitshares-open-permissionless-blockchain
What's special about ADA?