Do you think Bitcoin will eventually die off as other better cryptocurrencies take the lead? A bit like how vinyl records gave way to tapes and cd's?
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Do you think Bitcoin will eventually die off as other better cryptocurrencies take the lead? A bit like how vinyl records gave way to tapes and cd's?
No, I don't think so. Bitcoin is the most secure blockchain for payments because it has by far the most mining power behind it. And this is still growing.
Some crypto projects pretend to be better than Bitcoin, but in most cases the only reason they are faster is because nobody uses them. Bitcoin Cash for example. I don't believe raising the block size is a long term solution to scale a blockchain.
i have read that proof of stake is as secure as proof of work and obviously it is much more sustainable and faster to execute and therefore lower cost. I'm betting that it dies out in the long run. There's just no incentive for new investors to buy in as the growth potential isn't there because the utility isn't there compared to newer crypto's. I think it's just a question of whether there is one more big rise in price before the ultimate big fade or whether we have already passed that point.