Bitcoin is a Crypto amongst many others.

in #radio7 years ago (edited)

There are many to choose from.

BTC too expensive? Go for BCH. If that is over the top you may want BTG.

DOGE is the cheapest though.

At a certain point I found myself drawn into the there can be only one Bitcoin struggle. It reminds me somehow of the latest sequal of the Highlander movie cycle. With the fifth episode I knew upfront that it could not even be classified as a B-movie. And I'm not masochistic enough to even try and watch it. My brain still felt the pain of watching Independence Day 2.

That is how it started to feel, the whole Bitcoin is the only real one farce. While that field of the Cryptos realm creates one clone of their own after another. Somewhere I lost count of the total amount of Bitcoin out there. While the self acclaimed purists call every Bitcoin variant out there an Altcoin, I almost wet myself laughing. Please stop, ha ha ha, the irony is getting macabre!

The holy whitepaper.

Such fun, much nonsense, very science. It gets weirder by the day, only nine pages and thousands of intrepetations. Imagine what havoc a religious book with a thousand pages could cause on this planet. Would not surprise me if some fanatics would start wars amongst each other over it. To destroy what is so wonderfully being created. Divided we fall, somehow to me that makes no sense at all.

Cryptos united.

That is the way to stand together. Fanatic purism creates division. No matter who does it or why, it will lead to a fall. That is why I choose to go for Cryptos United and step away from the cynical Alts name calling. Even Bitcoin can be considered an Alt, because HashCash was the first one. It was 1997 when Adam Back created that first real Crypto. For me a reason to HODL my BTC. As he developes for Bitcoin Core now.

There can be plenty more Cryptos.

As I pointed out before, the total amount of financial transactions per year is 400.000.000.000, that is quite a few. This comes down to at least 12.675 transactions per second. There needs to be some room for peaks too. A standard Bitcoin block can handle 3 transactions per second. No matter if there are blocks 8 times that in size, it still can only do 24 transactions per second!

Bitcoin would need, at least, 4 Giga Byte {GB} blocks to be able to try and compete with the financial realm. The Bitcoin whitepaper states that it wanted to propose a solution for the double spending challenge for the financial world. But again that gets interpreted, so it might be a waste me mentioning it here. It is all about a trustless peer-to-peer transaction of value system. And it became so much more than just that. That is the strength of Cryptos and there is still room for more.

Bitcoin purists hold us all back.

Bitcoin Gold might go for 250 USD. And cheers for Bitcoin Cash when it hits 2500 USD. Where Bitcoin itself will be at an almost magical 10.000 USD. Now, I know why I HODL my BTC, as this is still the beginning. Yet I also have Litecoin and Vertcoin, some HERO and Bitshares, Waves and Steem. While the TULIP will be issued by me in december 2017, I also have faith that EOS will start to kick ass in 2018.

They are all Cryptos. And if there are still those who think they should call non-bitcoin Alts, then they should look up HashCash. Holding on to energy wasting Proof Of Work {POW} mining, to warm up the earth, now that comes at a price indeed! A claim that bigger blocks for Bitcoin would in the future make the banking monetary governance system obsolete?

Yeah, right, Bitshares and Steem already outpace all the other Cryptos combined. Making the Bitcoin purists look like a bunch that still use a pen and paper, because it was written somewhere in stone to do so. Bitshares can do thousands of transactions per second, just like Steem. And EOS will at least go for tens of thousands per second, able to scale horizontaly, when needed.

Looks to me like Bitcoin and its forking clones are in the risk zone of becoming dinosaurs... While the test of the Cryptos realm moves forward in inovation, like horizontal scaling.

Such cheap, much fast, Doge!

Even the cheap and fast thing has become a laugh. For every US Dollar Bitcoin Cash is worth more above 1 USD it gets more expensive to use than Dogecoin. That one costst me only about 0.001 USD per transaction on average! And it is faster than any Bitcoin kind of transaction. Cryptos like Vertcoin and Litecoin have cheaper transactions than any type of Bitcoin out there. And there are so much more that fit that bill.

Peoples money...!? My hairy lower behind it is! And yes I know Steem has no transaction costs, but I need an account, a complex key and Steem Power to be able to use it. And it could be simplefied, that is one of the challenges for our beloved Social Media Platform on a blockchain. Yet, for simple cheap and fast address to address value transactions Dogecoin is very science. It has much support and it just works.

Let us unite in Cryptos, we are in the risk of being held back by a small group of self acclaimed Bitcoin purists. Those calling anything not Bitcoin being an Alt, even in their own field of the Cryptos realm. Where a lot of us could not even start to care less.

May the Cryptos be with us!


Hashcash was the first one, Back in 1997.
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Image CC0 licensed by The Digital Artist at PixaBay.

PS Radio is broadcasting, in a way that is what I do with this article. No, to be honest, I clicked post to soon in the eSteem App and that one still seemed to have tags in some buffer. On screen it was empty, as I cleared it before I started to type in the text. So as a little addition you could visit an online radio station like Oldambt FM. Or go to a great radio station like Orinoco Radio, that will broadcast the delicious fivehundred {NL: Verrukkelijke Vijfhonderd} from friday the 17th until sunday the 19th of of november.

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BTC forked coins gives other people to have the opportunity to mine it with a much affordable hardware than ASICS.

Bitcoin Gold does that absolutely with their Equihash support, as other Cryptos, like Vertcoin do with algos like Lyra2REv2. There is the real decentralization.

Thank God for this article; BTC is depreciated tech that keep on living through:

  • newbies in crypto
  • it's own name and fame
  • tether manipulations

Glad to know you appreciate it!

Recently I became aware that I had been drawn into this Bitcoin is the only one nonsense. Where I think a lot of other Cryptos have innovated a lot, progressed, solved challenges and are way better suited for a leading role in the realm.

Almost 100 billion USD is already invested in other Cryptos, and there is even more room for growth there. That insight hit me last night, the best modern, fast and cheap Cryptos are not Bitcoin and there are plenty to choose from.

Indeed, but like in the .com bubble there are plenty of shit, scams, fraud, etc.
As always prudence is mother of virtue ;)

Of course, where ever there is value to be gotten, looters will come too.

Morning Doge fan (here is morning) and may the Cryptos be with you!

Goodmorning fellow Cryptonian 9 minutes to afternoon here in Nederland.
In Cryptos we trust! :-)

Alt coins hedge Bitcoin... Litecoin is better for speed, and soon will (may) be a platform for Alt coins... not to mention Atomic Swapping in the future.

I consider, BTC as only a part of Digital Asset Portfolios.

Many seem to been panic selling BTC and other Cryptos lately while pumping BCH. A lot of them may have had a hard time grasping that the future lies in innovation, where horizontal scaling and atomic swapping are a part of. Just like Vertcoin its stealth transactions, for instance. And I do see an important role for the Cryptos future for Litecoin. The non forking cloned steady and stable one.

Calling BTC and other Cryptos Digital Assets works for me too.

Thank you for this article. I see that there is always something new I can learn about cryptocoins. Upvoted an resteemed!

You are welcome and thak you!
Cryptos are very interesting and there's always something exciting going on!