Is Bitcoin the future of Cryptocurrency?
Is Bitcoin the future of Cryptocurrency?

By jordanjnr | Crypto Digest | 6 Dec 2019


This post took a lot of research and time to out together. It'd be great if you could leave a tip by using the tip slider down below. Thanks.

Let's face it.

Bitcoin is a big,big deal.

Whether you like it or not.

But,as big of a deal as bitcoin is,could it constitute part of the future of Cryptocurrencies?

The obvious answer is yes.

Bitcoin is the largest cryptocurrency by trading volume and price alone.

Bitcoin's main aim is to replace fiat,and give the world one decentralised,general currency.

And we're almost there.

Just a few years away.

And we'll get there once the Bitcoin Blockchain problems are ironed out.

You see,the blockchain has one major problem and a few minor ones.

The major problem is that it is extremely slow to send cryptocurrencies over to another user,especially if the cryptocurrency is in a small amount.(XRP(Ripple) fixes this problem in leaps and bounds)

This slow nature is seen in transactions taking up to a whole hour to reflect in the receiving wallet.

It sure is still much faster than western union or bank wire.

But if this problem persists,it could be a disaster for bitcoin and its mantra.

You see,you have to be better than what you want to replace.

Much,much better than it.

At the moment, Bitcoin transactions are about 30% faster than regular fiat transactions(not counting wire transfer and conversions)

But with Cryptocurrencies like Ripple and Lumens doing the same thing that Bitcoin is doing,but better,it seems that there is no place for Bitcoin in the future of Cryptocurrencies.

Of course this isn't true.

Bitcoin definitely has a place in the future of Cryptocurrencies (it's the pioneer cryptocurrency for goodness' sake!).

When it fixes its transaction time problems.

This post took a lot of research and time to out together. It'd be great if you could leave a tip by using the tip slider down below. Thanks.


jordanjnr
jordanjnr

Hello! I am a Blockchain enthusiast,bitcoin investor,CEO of BigTycoon group and I love crypto! Hit me up @TycoontechBlog on twitter!


Crypto Digest
Crypto Digest

Daily crypto news, updates and possible price fluctuation directions sound good to you? You're in the right place if that's the case. Please, always remember that we are not analysts....do your own research!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.