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RE: "We decided to move on to superior technology"
Think it's a bit early to be calling the end for bitcoin. These other blockchains promise great things but none of their networks have been put under the level of stress bitcoin has. Ethereum claimed it could handle it but when the ICO's came heavy, it's network had issues.
So true. At this point the only thing truly threatening to the technological foundation of Bitcoin is quantum computing, and that MAY be years away. Ask most vets what they'd feel most comfortable holding onto over the next few years, and most will say Bitcoin is their #1 choice.
Quantum computing threatens ALL cryptos. Plus, if it becomes a threat then we can hard-fork to quantum signatures, problem solved.
yes because running computers at -273C, that cost millions of dollars is a threat.. I dont even think they will honestly be able to harness qubiut tech..
QKD blockchains will be quantum resistant, so we'll be alright for a while I reckon :-)
Cg
The network may be strong, but a big problem with BTC is transfer times. There can never be another Bitcoin, the same way that there can never be another printing press, Wright Flyer.
Interesting point. I'm a novice at digital currencies, but if this is the dawn of a new era, it only makes sense that the first interation will fall to much more developed systems. Just like the Wright Brothers plane turning into a Boeing 747 in a matter of decades
Bingo
Good to know there are still some sane people on Steemit.
@rawpride however don't you think the higher transaction fees and slow processing speed is a problem for bitcoin? If they don't improve on this, networks like IOTA will definitely give tough competition to BTC.
people have to remmeber, a good stable crypto has supply and demand.. half the people just hodl there currency hoping to get rich,, you can acctually use bit coin the buy things.. and deep web is a great eg..