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RE: Bitcoin Dives! Why I Remain Bullish + Tron Rant
I've always loved the topic of why certain innovations ultimately succeed even when there are other "better" alternatives. There are many reasons why and right now I think it's too early to definitively say that Bitcoin will or won't be the one, but it certainly has the best shot just from the absurd level of resources and support thrown behind it. Andreas is the best.
I would like to challenge your views. Bitcoin's PoW is flawed. If Bitcoin does not move away from it, it cannot and will not succeed. The entire earth's electricity network won't be able to supply enough electricity to feed the Beast. That is crazy. Nuts. Kookoo. Now Bitcoin will never move to another consensus algorithm, as miners control the network. Might happen over their dead bodies or if they become desperate enough. In the short term Bitcoin will continue to be King. However cannot say the same for the long term
Funny thing is everyone talks about Bitcoin's transaction problems as if that's going to be its downfall, but how bad is BTC's position if we really consider it? Right now nobody in their right mind wants to spend their crypto on coffee and burritos because they know it's only going to go up in value relative to fiat. What's a better store of value than it to hodl and trust to gain in value? I bought LTC and Dash to spend, but I don't even use them for the same reasons.
I'd argue the bottleneck in transaction speed has created added price volatility that's made it even more attractive to speculators.