NZ Darknet Market Forums

harrybalzac

Member

Registered: 2021-02-06

Posts: 13

Cryptocurrency for the future

Hi,

I've been looking into cryptocurrencies and the more I look into it, the more Bitcoin is beginning to look like the myspace of crypto. Slow, expensive transactions and energy sapping mining of new coins.

What I'm trying to say is for a start - I may be wrong but after a good look around, that Bitcoin Cash has so many more benefits of becoming a true, fast, efficient peer to peer cryptocurrency for the future.

Happy to stand corrected. In fact - what do you think?

Xar777

Member

Registered: 2019-04-30

Posts: 122

Re: Cryptocurrency for the future

Short answer: Nah, Monero would be a better candidate IMO.

The way I see it Bitcoin is working just as designed perfectly as a "store of value" a.k.a "digital gold". Unfortunately that makes it not so great for day-to-day spending "cash", who wants to sell their gold bars (with high fee's) when you know they will probably be worth $10000 more in a few months time.. but its a good place to park your spare funds for sure!

There is the whole Bitcoin "Lightning" network being developed, that should in theory allow very high volume of payments with low fee's over the Bitcoin network. This sounds great but has been under development for a long time now.. I guess it's a hard thing to build.

BitcoinCash is just a extremely basic "hard fork" of the real Bitcoin network, I recon the only reason it has any value is because people who held bitcoin back when bitcoin cash forked can claim the equivalent in bitcoin cash, basically free money, which is a fucked up concept. I also don't think bitcoin cash is decentralized enough, the hash rate is extremely low compared to bitcoin, big players control the majority of the network, it's a recipe for a 51% attack or market manipulation at least. It also suffers all the same privacy issues as Bitcoin and there is no where near the same level of tools for washing coins etc, which is a critical service for vendors and the like.

Monero, it's the only real candidate right now designed to be actual digital cash, fully fungible coins that cant be profiled or tracked. The network is really decentralized too as anyone can participate and mine with just some regular old CPUs or GPUs (it's designed to be ASIC resistant). It's a beautiful thing, Nuff sed.

tazaar

Member

Registered: 2020-10-18

Posts: 17

Re: Cryptocurrency for the future

It will be overtaken but not by Bitcoin Cash.

Strainforest

Banned

Registered: 2020-02-14

Posts: 34

Website

Re: Cryptocurrency for the future

Yes, Bitcoins energy inefficiency, high fees and inability to be improved will make it eventually obsolete. Bitcoin Cash was considered a candidate to replace it... three years ago. It's been a joke since then. Due to it's privacy features Monero will be the cryptocurrency of the future for the Dark Net, it's already the only currency supported by other markets. This association means it will never gain traction for the mainstream though. Personally I think the currently best-placed contenders to replace Bitcoin in the mainstream are Cardano (ADA), Vechain (VET) and Ethereum (ETH) but only if ETH 2.0 is a success.

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opsec101

Member

Registered: 2019-11-13

Posts: 28

Re: Cryptocurrency for the future

Out of all the possible options Bcash is has one of lower chances of ever gaining widespread adoption. I sold all mine immediately after the fork for about 0.5 BTC.
It seems the concensus now on what people want most from owning Bitcoin is long term store of value. Dozens of other coins have taken the Bitcoin source code and improved it in areas such as privacy or speed. Bitcoin remains the most popular, because out of all coins it is the best prospect for long term store of value. I don't see any other coin ever being better in this way. Hopefully over time the best discoveries from other cryptocurrencies will be rolled into Bitcoin, with the speed improvements and really big changes being done higher up the network stack as Lightning does.

Ruakaka

Member

Registered: 2019-04-09

Posts: 154

Re: Cryptocurrency for the future

big blockers get out reeeeeeeeee

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