Bitcoin has already established itself as a worldwide currency/store of value.
Outside of bitcoin, smart coins failed due to their inability to scale. Bitcoin copy pastes or centralized currency coins are useless, day traders were obsessed and let these gain popularity. I do not expect these to last. Privacy coins have a chance to survive, but they will likely need to fix scaling issues.
>Coinbase monopoly
Give it less than 1 year, this board knows that development takes time. Feburary this year we were told by the US government that crypto was not going to be banned. This was huge news for everyone that had crypto for the last few years.
I'm a well paid engineer and I give away everything on my website for free + encourage people to share.
This is possible because I'm well paid.
The concern is that content creators that need money will turn to being paid by the worst offenders. Videos with the sole purpose of pushing a product/ad/political agenda.
The smart people enjoy their 6 figure jobs and go 'up north' to relax.
Ive found it especially hard to find more experienced and smarter people to vet Big Picture ideas. Engineering questions are easy, I can ask my friends. Finding business types that are ambitious and thinkers is almost an impossibility around here.
Has the last 35 years of automation disproved this yet?
Even if the first round of automation is bug ridden and requires rework, humans will improve the process (or give up and try to automate something else).
Lets not forget that automation scales and gets better with ever iteration, and at some point begins to save time, save money, and improve quality.
IMO this is a rant rather than constructive criticism of automation.
I've firmly started believing in the phrase Bitcoin not Blockchain and dismissing anyone who thinks we should be storing database data in a blockchain.
Its 2018, we found its expensive and slow to use blockchain, don't store stuff that doesnt need to be trustless.
Its unfortunate the early adopters spent much time understanding and educating people about currency while the most recent crowd is following the greed. Tether is the opposite of the problem that was being solved.
>Billions of Tethers were printed seemingly out of thin air and used to purchase Bitcoin.
Do we know if it was BTC that was purchased?
I have half a mind to think that people who were smart enough to buy decentralized and scare BTC are different than the people who would buy a centralized fiat coin Tether.
The only people I know that use Tether are gamblers who are day trading alt coins.
It is become more and more apparent every day that Bitcoin is different than Alts.
Bitcoin needs to disconnect from the 'cryptocurrency' and 'blockchain' buzzwords.
Like it or not, Bitcoin is already used worldwide and is relatively stable if not positive. (No need to tell me of bandwagoners who bought at All Time Highs)
IMO Bitcoin needs to store value to be useful, not necessarily increase in value.
I have been explaining to newcomers that there is a difference between Bitcoin and everything else.
Bitcoin has become a man-made institution, similar to fiat, marriage, courts, religion, etc... There are people around the world that believe in the 21,000,000 Bitcoin to store value. The leading idea is that local governments print money and Bitcoin cannot be changed.
Alt coins are trying their best to promote themselves so people early to the market can make money. These are the people attending those conferences. They speak of using blockchain to store data, but this seems inappropriate given that blockchain cannot handle a large volume of transactions. I would guess many are failed/wannabe programmers jumping on a bandwagon.
Except make their products affordable to low income people.
Or give developers tools to develop(Cant afford the 2,000 USD upfront cost of ios dev)
And pull apps off their store because they were competitive with their own apps (or helpful to their customers in a way apple doesnt like)