Bitcoin, the parent of crypto alt coins. Is Bitcoin going to die?
From my understanding, some years back some bloke created Bitcoin, it was seen as a nerdy, long haired programmer thing. No body was interested, nobody really cared. Then it started gaining value, still nobody cared. Then other coins cryptos came on the sene and some people got interest. In 2017, shit got real, and still nobody cares.
The vast majority of the world, only know Bitcoin as a name, as a something. They have no clue about all the other cryptos. Let alone the whole concept of blockchain. As anyone who knows knows, cryptos are still in their infancy.
Those who know its scope, and might be a bit concerned by its potential, may be using the ignorance of the general citizenry to attack what little the citizenry know. So if the citizenry only know Bitcoin, then Bitcoin is attacked. Why attack Litecoin, if nobody has heard of it. Doing so will highlight the existence of other cryptos, which in turn may open the floodgates of how many there are and the blockchains as a whole.
So Bitcoin is attacked, in the only way it can be effectively attacked. Its reputation, something most people know nothing about, and it's price, the only thing most people would be interested in.
Cryptos and blockchains are the real targets, Bitcoin is the main victim. So being the parent of so many offspring, Bitcoin is doing what any parent would do. Protect its offspring. The huge weight of pressure placed on Bitcoin is driving down the price, but Bitcoin acts as a shield. It takes the heat, takes the pressure, is forced down, but protects the others from the pressure. No one has openly criticised Litecoin, Ethereum, or any other.
It's Bitcoin that is a fraud, it's Bitcoin that is being banned, it's Bitcoin that is the coin of drug dealers, it's Bitcoin that has seen a price fall, it's Bitcoin in the consciousness of the citizenry.
Bitcoin is not the be all and end all of blockchains, it's just the first and the most well known, that's all. As the parent it is protecting, sacrificing, and possibly willing to die for its offspring. With segwit 2x, the Bitcoin community is divided, weakened. Bitcoin is drifting away from its original white paper, becoming watered down, controlled, shackled to commerce, reputation, gossip, fake news and what ever else can be latched onto it, to cause its demise.
So far Bitcoin has been robust, but how much fight does it have left in it? How much has it given to protect its offspring? How much more can it take? How much more it it willing to give?
Will Bitcoin die? I reckon there will be a coin called Bitcoin, but it won't the same as it was a couple of years ago. It will have the value and reputation Bitcoin has built for itself. But it won't be the Bitcoin we know and love.
The question is, how will it be remembered? Will it be the coin the sold out, or the coin that sacrificed itself for its offspring?