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RE: Things You Didn't Know About Ned (According to his fireside chat)
I'm guessing it means he only cares if it works and can scale. A lot of people hold onto irrational beliefs about blockchains that stem from the early-days of crypto. The ideals are good but they get in the way of progress, as can be seen with this insane focus on Bitcoin over actually viable coins like Steem, Ethereum, and Bitshares. Even Ethereum has this to some degree.
Bitcoin is superior to all of the coins you enumerated due to economic reasons, putting aside engineering reasons.
No... Bitcoin is inferior due to economic reasons. You cannot separate the two.
Why is bitcoin inferior according to you?
16 Tps (not enough for even a single app), 10 min. block times + 6 confirmations = 60 minutes to security, no way to find consensus on development and funding, it's riskier, it's less decentralized, it has no inherent use case backing its value (as the other coins do), and it is essentially crypto-fiat. The updates it has had are marginal at best, and it had to go through months of fork drama. These other coins can make a decision and fix problems in less than 20 minutes.
These are mostly engineering reasons, not economic.
Bitcoin is a deflationary currency, the other coins you mentioned are assured to lose value over time.
Every crypto is a crypto-fiat, and I read that Bitcoin could enable smart contracts in the future.
I don't think you understand economics - you literally cannot separate the two. To say they're different is incredibly ignorant. There is no underlying value because it only does one unimpressive thing. Other coins can scale and have real services backing them now. Would you invest in a company that could scale and provide you value now, or a company that might possibly be able to scale in 5 years while businesses switch away? And by the way Bitshares and even Steem are far less inflationary than Bitcoin.
"And by the way Bitshares and even Steem are far less inflationary than Bitcoin."
Again, I read that Bitcoin may allow for smart contracts in the future.
What is the service behind Steem?
Spam promotion?
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Who cares about a smart contract if you can't execute it and it's not decentralized? You're using Steem's service right now. Bitcoin just wastes a week's worth of a household's electricity per transaction and has a 10% inflation rate. Bitshares is far below that, Steem gives users a nice interest rate, and both don't need to waste an ungodly amount of electricity for an hour to process a transaction.
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