RE: Cryptocurrencies Continue To Break All-Time Highs
I know numerically (and I like numbers), considering the supply, enormous gains don’t seem likely, I get it. Usually I stay light on the technologies with a massive total supply. They seem to be steady pump n dumps and that’s about it, in my opinion. It’s when the EOS team detailed their goals, that’s when they got my attention. Unlike most every other developer out there who is looking to take over Bitcoin or take over Ethereum or take over whoever, these guys are different. They didn’t mention anything about the #1 or even the #2 spot, rather they mentioned PayPal. Spoke directly about transactions and transaction time PayPal currently has. That’s a pretty awesome sized challenge. If competing with someone as large as PayPal requires a supply of a Billion then so be it, I can’t predict the outcome but I liked their enthusiasm enough to get in on it fairly early. EOS is also the farthest back there in my rear view mirror.. say it does do something spectacular, I don’t anticipate seeing that for a good 16-20’ish months.
I am relatively new to the granular concepts underlying cryptocurrency, please be aware of that. As far as I understand EOS main objective is to serve as a foundation for decentralize applications looking to have their platforms run on the fastest blockchain on earth.
I don't see the correlation with PayPal there. Am I missing something?
Nah, don’t let me confuse you. During that Interview, Larimer was comparing transaction times and fees of high ranked cryptos to time and speed of PayPal. He was pointing out how quickly PayPal can do transactions and how many thousands per second they can do which gave me numbers I could relate to as he elaborated on the objective of EOS. Don’t worry, I’m still pretty new to this stuff too. @jeffberwick has been real helpful as I’m sure you’re aware.
Yea, I have been using PayPal service for almost a year now to receive payment from my client and it's lightning fast. Nothing comes close in my opinion.
The only problem is during the verification process when you transfer your funds to your bank account which can take almost a week. What a shame!
Hopefully someone will build a cryptocurrency platform on top of the EOS block chain which acts as a gateway directly to your bank and doesn't need Bitcoin as a broker. Bitcoin is a piece of shit right now!
But I think it is very unlikely ATM. #makesteemitgreatagain