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RE: WIN 500 SP - DISCUSSION: "Should Bitcoin Just Be a Currency or Store of Value?"

in #bitcoin8 years ago (edited)

Should Bitcoin Just Be a Currency or Store of Value?
That is not an easy question but I think that the answer is no. I am sure Bitcoin is a great invention and it is very sofisticated software but there are lots of better coins that has potential to break leading place of btc. It is carrying some kind of obsolescence, too. Small blocks, bigger transactions (because of a big size of signature), (about) 10 minutes confirmation time, now the high transaction fees. In my opinion, bitcoin is really going to be replaced by "smarter" coins. It is happening right now. I remember that about 6 months ago the bitcoin dominance was more than 90% but today bitcoin has even less than 50%. Also according to this decreasing trend it is quite risky to invest just in bitcoin to long-term period of time (Even if the price was really increasing in last months). I have the courage to say that one day many coins are going to be more expensive than bitcoin. For daily using (shopping, etc.) the bitcoin is not a good option (I would rather recommend for example PIVX) unless it will be improved (built-in lightning network, smart contracts, instant transactions, bigger or flexible size of blocks, ...). If you want to store value in cryptocurrencies i would recommend you spread your money into many "good-looking" coins and HODL.