The insane thing about Bitcoin’s continued popularity is that out of all the thousands of cryptocurrencies out there, it’s easily the worst in every regard.
I’m not going to name names for fear of being called a shill, but if you want a cryptocurrency for just buying stuff there’s a ton that are more stable, faster, don’t cost a fortune to process, and don’t destroy the planet.
I remember launching my wallet that I hadn’t touched for years and I was hit with many days of syncing. It basically had to download gigabytes of data about blockchain since the last time I touched the wallet. I was blown away by the inefficiency and resource usage for seemingly simple things
It dominates because it’s the one that everyone knows. If you’re lucky enough to find a shop that accepts crypto it’s almost certain that the crypto they accept is bitcoin and bitcoin only. despite its flaws it is a proven technology. It might 3 hours to send an on chain payment but you don’t have to worry about a technical glitch dropping it.
I somewhat agree about it being not great though. it has serious scalability issues that were supposed to be addressed by lightning but lightning adds a lot of complexity imo. My grandma is never going to be able to figure out how to use lightning whilst still being able to benefit from a self custody wallet.
A lot of the newer coins that crypto bros bang on about seem to be centralized under private entities, “regulation friendly” and not distributed.
The insane thing about Bitcoin’s continued popularity is that out of all the thousands of cryptocurrencies out there, it’s easily the worst in every regard.
I’m not going to name names for fear of being called a shill, but if you want a cryptocurrency for just buying stuff there’s a ton that are more stable, faster, don’t cost a fortune to process, and don’t destroy the planet.
Bitcoin’s transfer fees alone are huge. It’s over $1 USD now for any transfer, and it will get much worse.
I remember launching my wallet that I hadn’t touched for years and I was hit with many days of syncing. It basically had to download gigabytes of data about blockchain since the last time I touched the wallet. I was blown away by the inefficiency and resource usage for seemingly simple things
It dominates because it’s the one that everyone knows. If you’re lucky enough to find a shop that accepts crypto it’s almost certain that the crypto they accept is bitcoin and bitcoin only. despite its flaws it is a proven technology. It might 3 hours to send an on chain payment but you don’t have to worry about a technical glitch dropping it.
I somewhat agree about it being not great though. it has serious scalability issues that were supposed to be addressed by lightning but lightning adds a lot of complexity imo. My grandma is never going to be able to figure out how to use lightning whilst still being able to benefit from a self custody wallet.
A lot of the newer coins that crypto bros bang on about seem to be centralized under private entities, “regulation friendly” and not distributed.
i wouldn’t be suprised if even Dogecoin works better that Bitcoin. then again monero is the most private
And it’s not even close to private.
That’s the beauty of crypto, there’s flavour for everyone