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RE: Bitcoin Will NEVER Gain Mass Adoption (video/podcast)

in #bitcoin5 years ago

Steem's biggest flaw is that it is connected to people's identity (even internet ID is just too trackable). People value blockchain for passport/ID protection, but that's only for when people don't want to be anonymous. We're quickly entering a world pushing back against surveillance and I suspect this will be a challenge for the Steem model. Plus I see it as an internet model and nothing more, aspects of its design suggest to me it is destined to be niche such as BAT, and eventually to compete with BAT.

As for Bitcoin, if you notice it has the highest volume in value transfers on exchanges. By who? Hodlers all hodl, they hate giving up their bitcoins. So what's going on with the daily transfers? My guess, institutions. I think BTC is actually doing what XRP plans to do right now, and I suspect that is BTC's future. But I don't think that is the devs' plans, they want a techocracy with themselves positioned at the top.

That said I see BTC as essentially a ponzi at this moment. Notice how angry all the hodlers get over anyone using any other crypto? Its because its a first come first serve system, and they need new people flooding in for it to keep going up making them wealthy. But most newcoming people see this and have no desire to do this. They don't care how big BTC is, they want to find their own mooncoin. Its like Charles Hoskinson said, "altcoins are only bad for people invested in BTC," but not for the world. Now, to be fair, all money is essentially a ponzi, and thus all crypto projects a kind of a ponzi. Its the usefulness of the tech that makes it a legit money that ultimately reverses the ponzi-effect supporting real value behind it. The problem with BTC is that it has been denatured to the point of having value only in the form intended for XRP, which is also, incidentally, why XRP is a less accomplished ponzi.

I'm not anti-BTC, in fact, I believe everyone needs to have both BTC and BCH to be safe, because I think BCH going big blocks will force BTC to go big blocks too in a fight for survival, and if BTC is quick enough about it, I think it might defeat BCH. However, only by going big blocks before BCH takes on too much adoption will this work, if they wait too long, Bitcoin Cash will be known by the masses as "Bitcoin" and BTC will be permanently hosed. I think BTC folk are too comfortable, believing they can just slander BCH every chance they get and go to lunch. But the problem is, if big blocks work, the game changes. This is why BCH is good for the world, even if it loses, it forces BTC to become what it originally was meant to be. May the Fork be with you...