This Day In Crypto January 23rdsteemCreated with Sketch.

in cryptocurrency •  last year 

Redoing the format of the posts into a more readable format. I'll instead give summaries of the stories that stand out the most.

Top 11 from 2017

I found this interesting post called "What Would Happen to Bitcoin if the Internet was Shut Down". It goes into about how governments could shut down the internet and would it end bitcoin. Solo mining could continue over LAN though with the added difficulty it wouldn't be profitable at all. As far as a user making transactions it would be quite the hassle. You'd have to manually send transactions to miners for them to add to the blockchain and this would have to be down over some sort of radio frequency, if the miners decided to accept a radio signal that is. At that point they could mail you a letter of confirmation.

Let's just hope it doesn't come down to this. As it is right now though with fees as high as they are you might as well not be able to use your bitcoin.


Top 11 from 2016

On this day in 2016 there was a post talking about "Is Bitcoin Dead?". In the article he first mentions that public adoption for bitcoin is dead and that it won't be a replacement for the dollar "anytime soon". Even to this day he was half right. While bitcoin isn't replacing the dollar, it could be replacing gold as a store of value. This is the only way to use bitcoin with it's fees being so high. The second part of the statement where there wouldn't be mass adoption is less true. While it's still not being use much there are more and more people talking about bitcoin and asking questions about it. Amazon was rumored to start accepting it and Microsoft was accepting it for payments online.

While bitcoin may not be the currency to get mass adoption and let you pay for coffee it has opened the door for other currencies that are now improving their blockchains by creating faster and cheaper transactions than ever before. Privacy is a big issue now too and it is being implemented into many coins as well. But even beyond privacy, many of the coins are finding a larger purpose than just a form of payment. I think that these will be more of an entry point for the common person using a blockchain or some other decentralized technology. The other decentralized technologies that go beyond currency will be where more adoption happens when they start bringing their products to fruition.

Top 11 from 2015

This is the first real news article for this day in history. "Winklevoss Twins to Launch Bitcoin Exchange with FDIC Insured Deposits"

They had planned to open a fiat to bitcoin exchange in New York called Gemini that would not be affiliated with their bitcoin ETF. They had planned on insuring people's cash that they sent in to the exchange but were still trying to figure out if they could insure people's bitcoins. Although if you'd just put your coins in your wallet, you wouldn't need insurance....

The Gemini exchange is still running to this day but it's not the best exchange out there. CryptoCompare only gave it a 2.7 out of 5. Unfortunatly they don't have a lot of trading pairs and people want those alts... Like Steem! So make sure you toss me an upvote so I can get some more Steem :)

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