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RE: #4.1 - Is Bitcoin doing it's job? And are you putting it to work?
Dude, bitcoin will never scale. The fees and tx time just won't work. The people who made fortunes from it are NOT using it as an everyday currency and no one can blame them as it is a store of value way more than it is a peer to peer currency. If its going to be as big as we think it is, then it wouldn't make sense to spend ANY of it now which, oddly enough, is the another dynamic holding it back from being mass adopted. There are just too many problems, I think, with making such a massive change. Blockchain is here to stay but Bitcoin? I'm not so sure.
I think the progressive nature of blockchain allows new alt coins to outsmart the bitcoin protocol. With the new coins coming out daily its difficult keep the bitcoin price stable.
Hence - spend and replace immediately - that doesn't require stability :)
But I agree - and also assume we will weed away many of these coins for widespread use, leaving a few major players globally, and smaller alts locally - or maybe it will be a sea of alts, and people will pick and choose based on a variety of factors.
For stability, mass adoption is required IMO - which is what I am advocating.
I'm not Bitcoin maximalistic at all though, just saying it is the easiest one to work with because of brand value - right now... :)
Well - the scaling debate is one of it's own, and not anything we can foresee how/if we solve, since the solution isn't come up with yet - you're trying to prove a negative, with that statement, and proving a negative, is a impossible. :)
I agree - I think you're saying basically what I am, aren't you - just without the "spend and replace" plea, which wouldn't hurt the user, but keep the network "alive" as means of exchange. That can be one of the biggest factors in driving to mass adoption.
And by no means am I saying BTC will not be replaced - but we don't know by what, and right now, we need to work with what we have - the most known and brand-valued crypto, and use that to spread adoption.
I think you're a little "glass-half-empty" on this one. Personally.
And despite having gained a decent amount on BTC growth myself, I still practice what I preach, where and when I can - use and replace.