Bitcoin Will Be Replaced If...
First let me start with I love bitcoin. If it wasn't for bitcoin we wouldn't have all the cryptos we now have, the ability to privacy once again and a way to honestly say F you to governments that increasingly have come to suppress it's people, be wasteful and care nothing but themselves like a large corporation. So in that sense THANK YOU Bitcoin and all you have done for us.
But your days are numbered... I hate to say it
Walking around in the streats today if you start talking to a stranger most likely if you mention crypto now they will think of one of the following.
- NFTs
- Play2Earn crypto games such as Axie or Splinterlands
- Defi
What you wont hear anymore is a single word that use to come to everyone's mind and that was BITCOIN.
It's because Bitcoin has had a number of things go against it as of late which I want to address.
- Bitcoin is stagnate AF - The devs for bitcoin already said they wont make changes and the softfork that happened in November was really nothing.
While yes this allow for some NFTs/ smart contracts and DeFi ability the core issue remains the damn thing is slow, expensive
- It's the slowest of the blockchains now it's old tech if you ask me it's like a calculator compared to a S22 cell phone.
With a 10 minute long block even if you did process something right now and get in that first block you'd still be waiting 10 minutes for it to go through and thus paying for anything quickly is impossible. Yes, yes there are lightening networks etc but in reality those are really their own blockchain and most people are not going to move their bitcoin around like that. Thus it's a primitive blockchain now.
- It's been taken over my mega corps and business thus crushing every day miners and centralizing the security of the blockchain.
One of the best things about bitcoin was that anyone could mine it with their computer using CPUs and GPUs and it was fairly spread. Even the start of ASIC at least made it available to many but as soon as the heavy equipment rolls out and the fast advancements of each new ASIC computer crushing the next it quickly centralized the security of the blockchain to a few large investments/corporations. Which is exactly what you don't want and is exactly the opposite of a decentralized network.
- Blockchain has evolved and PoW systems are becoming obsolete. There's no need for complicated hashing anymore. In fact all it's done is centralized things more and created less security compared to what it originally set out to do. There is now a push from many about how much energy and pollution it causes and while I don't agree with it, it really doesn't matter as what matters is what a vast majority of people believe and push for. Because of that PoW and bitcoin will continue to get a bad name and as younger investors jump in they will go to PoS systems which (hopefully soon will be Ethereum) or other blockchains.
We kind of started to see the start of that this year but I firmly believe that 2022 we very well could see the flippening. Now don't get me wrong Bitcoin will still have value but I don't see it increasing in price as fast as some of these others as we continue to evolve and grow.
Do you think Bitcoin will be taken over in market cap in 2022? If so what crypto?