well i am no expert by any means in the crypto area i think i have a bit of knowledge on it tho, This might be more of a rant about the current place bitcoin transactions are at. I do not like Bitcoin as much as some other crypto for the main fact the core team and miners can't get there heads outta there asses and fix the problem that is ongoing with miner fees and block times.
When i started to get in to crypto and bitcoin there was a pretty low fee of around 10-25k sats per transaction i sent out (at time was about 5-10 cents ) this didn't matter if i sent .04 or .001. It has gotten to the point that it cost more around $2.43 cents to even send out $1.00.
This i feel has a lot to do with why coins like Doge and LTC will be around for along time to come is they are a lot cheaper to send then bitcoin i think even can be again.
so for me this is one main reason i think bitcoin is losing a lot of market cap.
upvote if you agree and comment to talk..
sorry it is not well wrote but i just thought i would get my 2 cents out.
thanks steemit community
The problem with Bitcoin is that there are 2 different solutions for increasing the transaction capacity.
Bitcoin unlimited, supported by Bitmain, a company that produces ASIC and also has one of the biggest pools (Antpool), want to double the block sizes. To do this Bitcoin will be splited in two different coins. With Bitcoin unlimited, miners can choose changing the block size at any moment, splitting Bitcoin again. Furthermore, a high amount of bitcoin unlimited nodes had crashed many times.
SegWit, supported by majority of bitcoin companies, allow the blocks to hold more transaction in the same size. It also make much easier the creation of paralel blockchains, reducing the number of transactions in the main one. SegWit will break by chance a mining protocol called ASICBoost in his covered mode, that allow Bitmain miners to mine consuming 20% less power. Bitmain said this protocol has never been used, but in covered mode it will be undetectable. SegWit don´t block ASICBoost in uncovered mode., with the same energy saving.
yup, i am up to date on this 2 teams trying to fix the issue but with the ongoing problems it seams to be having they need to fix the problem now not when BTC is no the top crypto. I do think BTU is not the way to go i hope in the coming weeks with LTC using SegWit that it will soon be used with BTC
i agree if bitcoin does not evolve or implement new upgrades. It will lose a lot of market cap because people (new investors) are realizing there are other much better cryptocurrencies around.
yes it is rising in value but so is crypto market a whole, so this year i think if SegWit is not used then BTC is going to lose market cap and it going to be used for Hodling only or the ones that can see sending a 10% fee on a transaction