Bitcoin the Forbidden one - TA Master
Bitcoin the Forbidden one - TA Master

By fervi | fervi | 3 Nov 2019


I don't know anything about fortune tellers. So my "TA Master" will be based on what I think is right in Bitcoin and the way it will go. It doesn't mean that it will come true, but it's worth knowing what can influence Bitcoin's development and price increase at the same time.

The changes to the general protocol are interesting, but they are also not, in my opinion, crucial. Bitcoin focuses on increasing anonymity and scalability without centralising the project. The Dandelion project is designed to make it difficult (or impossible) to locate the node that sends transactions, and e.g. Schnorr Signatures will allow to reduce the size of transactions (especially multisignature ones) so that they will be cheaper and it will be possible to save much more transactions in the block.

In addition, there are many improvements that I don't even understand - Taproot, Graphroot, Tumblebit (...).

The power of lightning

Lightning Network is a new technology that enables almost infinite scaling of Bitcoin. You can very quickly and very cheaply send money to someone else. Of course, it was created for micropayments (which in my opinion the maximum amount that is worth to keep is 2 salaries :P).

The project is developing very quickly and more and more interesting functions are being created. New games (check out e.g. Lightnite - Fortnite style game combined with Lightning.)

Certainly, you can not say that Lightning is unsuccessful, because it is a good project.

Smart Bitcoin

One of the projects built on Bitcoin is Sidechain RSK, or "Smart Bitcoin". The idea is simple - take all the best from Ethereum and join Bitcoin. So we have the ability to create intelligent contracts on Bitcoin, and because of the compatibility with Ethereum - programmers can very quickly transfer their project to this platform.

I personally use MyEtherWallet wallet (it's broken, but it works) and Ledger. Both support the RSK network.

A solution for speculators

Speculators need a fast network for arbitrage and this is what the Liquid Network provides. It allows us to send Bitcoins (but not only) from the stock exchange A to B (or to the wallet - e.g. Green) cheaply in a few minutes.

Zapread - Monetisation of content

New technology makes it possible to create more and more interesting projects. The idea of monetization platforms initiated by Steem is being replaced by other solutions such as Publish0x or Zapread.

With Zapread, you can talk freely with others and perhaps even earn money. Of course, there is no guarantee of earning money, but there is no guarantee of earning money anywhere ;)

Due to the proper construction of the website you do not have to create large entries - sometimes a short comment or information from the world can be rewarded.

 

Of course, I presented here the big projects on Bitcoin. I could describe Bitcoin satellites (e.g. Bitlinq or Blockstream Satellites), MimbleWimble (anonymous transactions in Bitcoin) and many solutions.

Bitcoin is probably the fastest growing platform.

 

What's gonna cause trouble for Bitcoin?

In my opinion, the BCash SV. Not because Craig Wright is Satoshi Nakamoto, because he is not. But there is a group of people who believe that and will be particularly active in 2020.

Many people trusting the fraudsters will try to buy BCashSV at all costs.

 

I'm describing different technologies here, but as you probably noticed, they can destroy many shitcoins. Why do we need Ethereum like you have RSK? Nano, Dash? Lightning Network. Steem? Zapread (or any other platform, but I like Zapread :D).

Let's remember that these cryptocurrencies have millions of dollars to fight Bitcoin prepared. They will fight as much as possible. Just like BCash used to write a lot of posts about how Lightning will never work (and today we know it works).

The coming time will be interesting! :-)


fervi
fervi

I believe in the future. Bitcoin's Maximalist, amateur programmer, creator of unofficial DAO - IntinteDAO, fan of freedom, decentralization, new technologies.


fervi
fervi

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