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RE: Why I Think Cryptocurrencies Are Here To Stay & Will Increase In Value!

in #cryptocurrency7 years ago (edited)

Bitcoin still has a chance for a few more years of success. It still has the name recognition of being one of the biggest and most important cryptocurrencies, and it's still the primary currency of the crypto market; Most coins can't be bought with fiat, but nearly every coin can be bought with Bitcoin.

Bitcoin is NOT a good coin by any means. It's volatile, it's slow, and it doesn't serve any purpose outside of being a currency and a means of exchange. Implementation of the lightning network could drastically improve its performance and make it much more useful for the foreseeable future.

That being said, better technologies have emerged, and Bitcoin is way behind in terms of tech and utility. Once more currencies can be purchased using fiat and Bitcoin ceases to be the primary gateway coin for entrance into the crypto market, I expect that it will gradually fade away, probably with Ethereum taking its place as the primary cryptocurrency in the short-term (2018-2019), and some other yet-to-be-created technology taking over the market in the longer term.

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Botcoin is dead, long live Bitcoin. Think that says it all ;)