RE: From Bitcoin bubble to STEEM breeze by Craig Grant (STEEM report) - August 15, 2016
By the way Craig - I was speaking to you yesterday about decimal points purely from a math theoretical perspective. I ma not a BITCOIN religious person. Like I said I have 0.3 BTC and the only reason I have that much is to spend it. :) It is not where I save. My savings at the moment is all steem power.
So I was debating with you, but I was not saying BITCOIN is great. I was simply indicating I didn't have your particular issue (that I was responding to) with bitcoin. Since it seemed to be related to decimal points. The US Dollar does lose value, thus why putting dollars in a savings account doesn't really save us much. Steem Dollars would be the same as US Dollars but at least we get 10% interest, so that should offset the inflation of the US Dollar and hopefully then some.
100,000,000 satoshis inside a bitcoin. :) 8 decimal places.
Yet the big problem with bitcoin is that it can't keep up with the number of transactions.
YES ☺
To dwinblood
We all have to remember, bitcoin 0r all digital currencies are still in it's infancy stage so, maybe bitcoin can't keep up with the transactions now, it will some day! I can't lie, 'Steem' is all I can think about now lol It's like when I first found bitcoin but much more fun:) And keep in mind that bitcoin developers can feed off of all this new growth from other blockchains and improve the bitcoin blockchain and what not maybe 10X greater than these new 0nes coming out. All I know is that I'm in l0ve with Crypto, period! It's a beautiful thing indeed.
All the economists are mentioning the $3000 mark. This is the tipping point where the decimal places will reduce and we'll all move to Mbtc or Sats and like it or not, you only have to look at the charts to see that it's coming. Maybe a few years but there are a hell of a lot more intelligent people on this planet than us who are tipping it's continued success. I was lucky and bought up big at $22. People think I'm crazy for holding but time is the greatest leveller.
Transaction times won't be an issue https://lightning.network/