Breaking Crypto News, Yours Network Switches to Litecoin due to Bitcoin Fees!

in bitcoin •  3 years ago  (edited)

Oh Snap, Bitcoin Better Get it's Act Together.

Yours Network is a Social Blogging Network with a Crypto Currency Pay Wall.

When Yours Network was announced last year they planned to use Bitcoin as the currency on the platform but due to the high transaction fees of Bitcoin they have decided to switch to Litecoin. Here is the article, "Why We’re Switching to Litecoin."

Bitcoin is Gradually Losing its Dominance.

CryptoCurrency Market Capitalizations.png

Today Bitcoin has 47.9% of the total market capitalization. Bitcoin was closer to 80% at the beginning of the year. Due to the continued struggle with high fees for transactions and block sizes many companies and investors have decided to put their money elsewhere.

Maybe Yours Network should take a look at Steem? Hint, no fees and super fast. Just Sayin ; )

Why I Still Love Bitcoin.

Bitcoin is my gold in the world of Crypto Currency. I only use it to store value and to shift larger amounts. For everyday transactions I much prefer Crypto Currencies like Steem, Dash, Monero and Pivx.

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Very Happy I followed you quality information. Thanks again

wow... People make money on their comments too...??? @pocketechange

A comment is treated like a blog post on Steemit. So they can also earn.

Followed you back, thanks for reading.

Well, the market works like that. If something doesn't work, you replaces it with the immediate alternative.

Free markets are an amazing thing.

RandyHilarski Randy Hilarski tweeted @ 19 May 2017 - 14:16 UTC

Breaking #CryptoCurrency News, @YoursNetwork Switches to #Litecoin due to #Bitcoin Fees!

steemit.com/bitcoin/@hilar… / https://t.co/96B0pBgROG
https://t.co/bKrSBJqrAX

Disclaimer: I am just a bot trying to be helpful.

In time, I am guessing BTC will become rather like gold... the gold standard of assets, but only accounts for a tiny percentage of the overall assets investors hold. Gold is a superb store of value, but it's tough to buy groceries with it...

It works fine in conjunction with our Wirex card because we actually preload the card with Dollars that we bought with Bitcoin. It also works for Euros and Pounds. So we are not actually using Bitcoin in the POS transaction.

Oh WOW! Great find :)

I have never heard of Yours: https://www.yours.org before. Thank you for the update and I am sure such developments will most likely affect the Bitcoin price in the future.

Is the platform similar to Steemit?

More like Medium @BitcoinKings with a Litecoin paywall. You have to pay for the content.

Ok.

So the content is locked and in order to unlock it you have to pay. Sounds awesome.

I know you get a content lock on WordPress but the difference is that you pay through sharing the post on Social Media. I guess this might become a WordPress plugin someday.

I would love to have a plugin like this on my blog :)

Great article, thanks a lot.
I think we are going to see a gradual shift away from bitcoin ona larger scale soon. On one hand Bitcoin is simply outdated in tech wise, but on the other hand it seems to just sky rocket in its exchange rate. I'm not totally convinced that it will be a good store of value in the long run. Guess time will tell :)

I wrote a post earlier today about the current problems regarding Bitcoins transaction times
https://steemit.com/bitcoin/@cryptodan/bitcoin-transaction-times-at-new-highs

If only bitcoin could increase its block size, it'll be better for transaction problems.

Imagine if they did switch to steem. That would throw the cat among the pigeons!!

I wonder why they didn't. It would make logical sense. Maybe they view Steem as a competitors token.

I suspect that's the very reason!

This is huge! I think we're going to start seeing an exodus of people begin to use other altcoins, and bitcoin looks like it's heading in the direction of "safe haven asset" or "store of value". We're probably going to see something like doge, reddcoin, steem, and lower satoshi coins for micro payments and maybe DASH, ltc, and a few mid range coins for the retail pace. This is a really interesting time to be involved in crypto. If you can follow the trends and see which direction the money is gravitating towards, there are going to be some people reaping huge profits.

I am watching every day. Reading tons of articles and looking over the trends. This is going to be an exciting year!

I agree with the fact that bitcoin is useful to store value, there are many other cryptocurrencies making different thins with unique features, and litecoin seems to be making fabolous improvements this year :)

Hmm, Bitcoin fees and delays have really been becoming a headache for sometime now. And it seems nothing is being done to solve this issue. On the other hand Steem is fast and free. Wonder why the decision is so tough to make..........

I just paid someone in SBD's. No fee and super fast.

On second thought, do you think if Steem gets massively adopted, then it would clog Steem network also. Maybe you can answer it in your next post. "How and why should Steem replace Bitcoin"!

I am a simple girl, I see The Roots and I upvote.

fantastic stuff @hilarski , all praise to Satoshi brotha!

I think ethereum has the biggest potential of all currencies because it can still be mined with GPUs and ASICs haven't been introduced in it yet .

Your posts are unreal...lol... @pocketechange

great...resteem and upvote for you....