Busineses May Dump Bitcoin as a Usable Currency
"Steam" (not to be confused with Steemit) no longer accepts Bitcoin. Then Microsoft stopped accepting Bitcoin, but started accepting it again. Now Stripe gave up on Bitcoin.
"Stripe handles payments for more than 100,000 businesses, including Warby Parker and OpenTable. The company announced Tuesday afternoon that it would stop processing bitcoin transactions on April 23 due to slower transaction rates and high fees"
Looks like there is an interest for cryptocurrency, just not Bitcoin due to fees and transaction time.
Which altcoin do you think will dominate the future market and why?
Not surprise with the fee like there are now... :D
Fees are so bad that I convert to Litecoin to make a transaction and then convert back to bitcoin to use as a trading pair.
The fees is the big problem of the BTC and not only that the time to wait for the confirmation makes it impossible to use it in common buying and selling operations
Maybe the Bitcoin Lightning Network solves that problem but we will have to wait for its implementation.
Personally I am using Steem, ETH and monero for my daily operations
Lol, XD
Thanks for the important update.. 👍
My pleasure
STEEM! because steemit.com is awesome and creates a marketplace and economy for the currency and it is fast and free, what else do you want?
Thanks for sharing this. That's true, but they also praised a lot of great up and coming coins like OmiseGo.
There are just so many. It is going to be a fight. I struggle with what will dominate. The underlying technology of the coin, the speed and cost of the coin, or the popularity of the coin that will put it on top. You would think the first two should dominate, but in the world of cryptocurrency, it seems like popularity wins. What about OMG do you like?
Yes I completely agree. I have started looking in to the marketing teams behind a crypto too, as their role is becomming bigger and bigger. I also look at how the coin can be obtained, I think that will be important.
I like OMG's proposed DEX that will have a FIAT gateway, the fact that it will be mined by PoS once the wallet is released, and that it was made by Omise, a company with contracts with huge names like McDonalds in Thailand. Have a look in to their plasma technology, it's really interesting. I'd really appreciate any feedback you have on my posts!
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My pleasure @alex-linda Thanks for coming back.
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Thanks for reading. More to come.
I don't know much about cryptocurrency but this sounds like bad news for people who have bitcoins. What do they do with the bitcoins Now? Anyway, I think steem should be the next altcoin that'll dominate the future market; I hope so though. Thanks for the info by the way
I don't know if it will influence Bitcoin price as bitcoin is not really used that often for commerce anyway. It is mainly used as a trading pair against other currencies. That is where it dominates. You can't always trade one altcoin for anther altcoin, but you can always trade an altcoin for bitcoin.
Either ETH or Litecoin. Maybe another smaller coin like EOS will rise to prominence with technology accelerating at the rate it is currently. But Bitcoin is being viewed more as a method of asset storage than a currency. I can see Ripple being used widely among financial institutions and might extend to the retail sector but only time will tell. I hope I am hodling the coin that does replace bitcoin though!
I think EOS has potential as well. I think the key is what coin is maid available on any exchange to pair with. For That ETH and LTC already have a stronghold. I also think that the same reason Bitcoin is the dominate trading pair is the only reason Bitcoin remained strong.
lucky for me I haven't heard of any of those things but Microsoft, who accepts bitcoin
I haven't used them. Probably doesn't matter.