Bitcoin and the Rise of the Cryptos
Many of us whom have been trading crypto for a while now with focus on increasing our bitcoin holdings, have started to pay serious attention to the civil war, and the FUD surrounding the future of what we all at some point believed in so dearly.
Bitcoin came with a message of hope. Technology that would allow people anywhere to undermine the banksters and provided a way out of central authority issued fiat.
In the case of Venezuela, Zimbabwe, or Turkey, that means a way out of the hyperinflation which countries like those, and many others impose, and force their citizens to endure by simply holding local fiat, and using it to transact in their daily lives.
This happens with all National central fiat money, in some nations more obviously than others.
Now that bitcoin has gained global attention and every news outlet in the world has run headlines about the price of bitcoin and its epic rise in 2017, more serious headlines are starting to surface.
Is it just a case of the seasonal FUD to bring the BTC price down?
1 last time before we see exponential growth again?
Are the recent events and obscure information about Bitcoin, and Bitcoin cash, causing concern? Or is it just part of having free healthy com petition?
It has become very difficult to understand or predict the value of bitcoin. It is even more difficult to assess the intentions of the developers whom have dedicated years and endured criticism and brought bitcoin to where it is today, partly because they have the same amount of bitcoin cash, and partly because they are not clarifying their positions publicly. Which granted! is their personal choice.
We are witnessing a major conflict amongst the most influential characters in the bitcoin circles. This is not only dangerous, but it raises serious questions.
Is this about money? Didn’t they all get a big bonus from all the forks? Is there more going on than meets the eye?
What can this be about? Is bitcoin compromised? Has it become a weapon for the information giants, and security agencies to rope in dirty money? Is it the NSA keeping tabs on everything in some huge conspiracy to control all crypto?
Is Satoshi Nakamoto, human? AI maybe?
Does anyone really care about privacy, and decentralization?
Has everyone who has bitcoin got too fat already and dropped the cause?
Is the support for xrp coming from the establishment or banks? or from the trading community?
Recently, taking a swing at the champ has become trendy, bitcoin cash took the spotlight for a short period and may still have some fight left. Xrp is getting a lot of hype and some have suggested that it will take a shot at the belt. But serious newcomers have been training hard and they seem to have some serious new moves and a lot of muscle.
RAIDA http://cloudcoin.global/hidra.html seems very confident about their allegedly superior technology. Will it be the next champion of cryptos? Or is it another altcoin with childish fantasies?
We may soon see a growing number of challengers to the Heavy weight champion of the world, the first cryptocurrency, the daddy of all alts, the bringer of the first blockchain, the undefeated, The one and only, Bitcoin.
Over 1300 active altcoins to chose from, everything blockchain and DAG related is now in cryptoland.
Some of these technologies are very interesting and have serious projects behind them. I have been working on a very special project, with some very talented people, most of whom, I’ve never met, my focus was keeping me away from the daily research I had become so used to for a little, But recently, with the help of Truly innovative and empowering technologies I’ve plugged back into the crypto matrix , and this time, things are not quite the same as before.
Cryptoland is a battlefield, and the Vanguard are coming…. Stay tuned...
Thanks a lot for your comments and taking the time to read this post. I look forward to your opinions.
written by steem user @papotus on 2018-01-08
We are the studying the art of war. digital version. lol
And this war is already over..:))
Some say it has not even started yet, either way, popcorn time.
I totally agree with you!
I am pretty sure it's far from over!
WHAt do you think of lightning network and atomic swaps? Do you think they will get adopted any time soon? They should help stabilize btc and bring more legitimacy to it. I think with btc wider acceptance and adoption (futures, etf, etc)improved software should come sooner rather than later. What do you think?
I wanted to ask the same thing, good call ;D '
relying on second layer applications seems to be the direction of the devs behind bitcoin today, however does that mean it is a real solution? isn't the whole point of bitcoin to be the platform for peer to peer payments? if lightning becomes the transnational layer, what is bitcoin? and doesn't that mean everyone has to learn how to use lightning? is that realistic? Lightning might work but do we know for sure?
it will be interesting to see if these new features for Bitcoin will bring it back to life, in my opinion in it's current state it is only a matter of time before it loses its #1 market cap (maybe to ethereum).
if you read to LN white paper, it said 133MB block size is required for 7 billions people to just open 2 channels per year. but the devs don't even agree with the 2MB hard fork.
Bitcoin is the representive for all cryptocurrencies. Many people who haven't got a clue what is a cryptocurrency have heard about Bitcoin. I personally think that no-one will surpass Bitcoin in the near and maybe far future. Why? Well because if Bitcoin goes down, everything goes dows. It's just the way it is. Great post @papotus
I appreciate the comment thank you. I don't know if that's just the way it is to be honest, it is probably the sentiment, however Motorola and Nokia are no longer the cell phones of choice, and no one really cares about Nintendo anymore although they were definitely the world wide branded leaders of their fields. Also let us not forget, AOL, yahoo, and Netscape, all leaders of industry, all first to market advantage brands, none of them are the leaders today!
think about it...
That's a good point. Nothing lasts forever :)
This is both interesting and educating. I've only recently picked interest in cryptos and I'm looking at starting with some of the other coins like ripple and tron, ioc and bitshare have also had some rave reviews.
Ether has left the pack of the minors and is steadily moving closer to btc, for me btc is looking beyond my reach but I'll try, I'm looking to build and buy as much as I can. After all in the crypto world it is better late than never.
Cheers!!! Thanks for sharing this.
we are still very early brother, cryptocurrencies are in their infancy. Today we are at the dial up era of the internet of blockchains
Yes u are right .. I agree with you
Im venezuelan and I think that the nearest exit to this situation is the door of "cryptocurrency" ! Very good post!!!
Thank you for this comment. It is very important for people to understand the problems in countries like Venezuela, I wish you the best of luck in your struggle.
Indeed bitcoin is daddy.....but a so called cryptocurrency is still due if you want it to replace fiat, most cryptos are assets like gold and nobody wants to exchange gold for a packet of chips.
the beauty of fiat currency lies in spending it in exchange for goods and services, not holding it.
I agree, we may do ourselves good spending all that fiat on empowering technologies. Especially if those technologies are not controlled by anyone and don’t require trust.
Thank you for sharing @papotus
Bitcoin is surrounded by so much speculations ever since it's launch , but one is for sure its a game changer for now and whoever is the developer, thumbs up bitcoin is a master piece
Awesome!