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Old Today, 12:59 AM   #19526
Join Date: Sep 2012
Posts: 2,053
Re: Bitcoins - digital currency

Originally Posted by NLNico View Post
So there are enough people who want to pay a decent fee for their bitcoin transactions. Seems mostly bullish for bitcoin to me

But agree, we need Segwit for an initial bump + so we can work on real scaling solutions like LN.

Personally I don't think much economic usage is "forced" to alt coins as of now. For example, I follow the bitcoin (and alt coin) gambling community a lot and bitcoin is still easily the most popular currency (even if 1 sites accepts multiple cryptocurrencies.) Also for example the ETH daily TX graphs don't show much growth to me (same since May '16.) But I can see the rational of alt coins being interesting for smaller transactions at some point if bitcoin solutions for that are not in place on time.
I agree.. ETH for example shows no growth. This is because it hasn't been adopted anywhere and isn't really being used yet. The same was the case for bitcoin to start out. There hasn't exactly been a reason to switch from BTC to ETH. That reason is starting to happen right now. With major adoption being bitcoins major advantage, it's 2nd is liquidity. You can buy/sell the most $'s and experience the least slippage which in turn gives it less volatility then the others in general. That right now honestly is the only major thing I can think of of why to use BTC over other things.

Fees will hit a high point and people will become educated and move to other options. I use BTC alot and can say my experience with transferring ETH just blows the BTC experience out of the water. ETH is what transferring money in this day and age should be like. It will find a way. As happened with BTC, it appears adoption needs to take place first and foremost.

Oh ya.. if they get that proof of stake thing to work... holy ****.. it's how I'll make my millions.

Last edited by onemoretimes; Today at 01:06 AM.
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Old Today, 01:24 AM   #19527
heltok's Avatar
Join Date: May 2012
Posts: 1,055
Re: Bitcoins - digital currency

I see growth in Ethereum. It is hard to measure this based on the blockchain, a lot of transactions before has been hackers attacking too cheap operations, some has been more or less spam and some has just been people playing around.

But I am starting to see some actual use. Just from my own perspective, 12months ago I had sent 0 transaction to people since genesis, last months I have actually sent like 5 transactions. And I keep hearing similar stories:

When I need to send money to my geeky friends I actually prefer to use ETH over BTC today because of fees and times. And I assume many more people have the same preference.

It is true that very few places accepts them and no killer app is out. But that is how everything starts. And right now Bitcoin is full and a lot will start to spill over. Then we have enterprise, raiden, golem, augur, zero wig-casinos, IPFS etc starting right now.

I have been in Ethereum since before the crowdsale and I have never been more bullish than right now.

Imo if you want to understand ETH vs BTC you should try to buy them and withdraw them and after that it should be pretty clear that
1. Ethereum is not as polished as Bitcoin yet
2. Ethereum is so much faster and cheaper right now
3. Bitcoin has a lot lower friction than dollars when it comes to buying things online

Then there is the main story about dapps and how different dapps can work together to create very complex big system, each taking care of something that is needed in a very large process.
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Old Today, 01:47 AM   #19528
Join Date: Sep 2012
Posts: 2,053
Re: Bitcoins - digital currency

Really wouldn't be that hard to gain the adoption BTC has. You get a big processor like Bitpay to add ETH. Honestly, why wouldn't bitpay want to start using ETH? I'm guessing their transactions tend to be on the smaller size since a lot of it is just small retail purchases. Who wants to pay high fees on small purchases? Then throw in the dark markets and tack on the gambling sites and there ya go, you could then spend ETH anywhere you could spend BTC. They are already traded on all the exchanges. I guess they could be more prevalent on Chinese exchanges. Another bullish possibility is China picking up on it.
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