Roger Ver, the BCH hype-man, predicts that by the end of 2018 Bitcoin will no longer be the #1 currency by market cap.
.
Generally speaking, Ver may be bat-shit crazy ---> *Increasing BCH block sizes indefinitely to a point of monopolozed centralization is a real solution?!
And tell me how that somehow makes it the "real" Bitcoin, when it's a literal fork!?!
haha okay there "Bitcoin Jesus"
But even a broken clock is right twice a day.
Satoshi and his creation of Bitcoin have pioneered a whole new world of possibility thanks to the innovation of blockchain technology. Because of this ingenuity, the world is on track to become more decentralized, transparent, secure and trustworthy.
We give our thanks.
However, like many first movers, (Napster, Myspace, Yahoo), they don't always get it perfect the first time around.
Long transaction times, high fees, an energy-intensive consensus algorithm is quickly becoming outdated. In addition, only three mining pools owning over 51% of the hash power. DANGER WILL ROBINSON, DANGER!
###So besides acting as a "digital gold", Bitcoin isn't doing so hot right now...
Who will take his place?
Possibility 1: A Smart-Contract Platform
The amount of utility and potential value that Ethereum has is staggering. The world of DApps is literally infinite. Just like on your smartphone, if you can dream the app, it can be created. Same with ETH. It costs ETH to run these apps, making the ETH token incredibly valuable. As the number of apps and users simultaneously goes up, so does demand. With a max supply on the horizon, that's an attractive economic situation!
Ethereum is currently in the lead by a mile for decentralized platforms that run smart contracts with around 40% of the top 100 cryptocurrencies actually being apps run on Ethereum! Ethereum so far is only running 7 transactions per second, which is no where near sufficient. (Visa and Mastercard do 10,000/s) However, scaling solutions are on the way. With sharding and Plasma, 100,000 tx/s+ will be a walk in the park for Vitalik and his baby ETH.
Ethereum isn't the only smart contract provider though. EOS is launching their long-anticipated main-net on June 2nd. EOS is said to have zero fees, be much more decentralized than Ethereum and host MILLIONS of transactions per second. This could be a strong contender. (Did you know that by holding EOS you get airdropped a significant amount of every DApp that is built on the platform?! That's quite the incentive to buy and hold the token!! = price up, up, up
Possibility 2: Another peer-to-peer currency
Even if it's not a smart-contract platform that surpasses BTC, it's verry possible that a superior currency like Nano could. Zero fees, instant transactions and DPoS, now that's a winner!
Possibility 3: Security Token Platforms
A very real possibility here, and the one that has excited me the most recently! Security Tokens are without a doubt going to be the mega-trend in crypto for the year 2018 as we begin to shift trillions of dollars of traditional assets such as real-estate, stocks, bonds and any literal investment or dividend producing entity onto the blockchain. Platforms like Polymath and Securitize create, deploy and operate Security Tokens, just as Ethereum runs DApps.
These platforms are currently a long ways away from being #1, but when the big money can finally enter thanks to these platforms, the rise to the top will be dramatic.
Bitcoin is falling behind rapidly in it's technical ability. Over time, tech and innovation always out-competes comfort. I certainly don't see anyone riding around in horse and buggy anymore or washing their clothes on a washboard down by the river.
.
.
.
Someone is coming to spoil the dinner party. Who will it be....
.
.
.
.
.
.
.
.
.
.
Thanks for the Read!
.
If you enjoyed or felt it added value, toss and upvote my way, it really helps out, this is my Meraki and Ikigai!
.
Additionally, you can follow me on:
Twitter
Twitch
.
.
meraki [may-rah-kee] (adjective) This is a word that modern Greeks often use to describe doing something with soul, creativity, or love — when you put “something of yourself” into what you're doing, whatever it may be.
