Quote:
Originally Posted by Fuzz
Right, I mean, it sounds like other crypto's are solving some of the fundamental problems with Bitcoin. So is this something Bitcoin can fix? Because it seems like a fatal flaw.
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Bitcoin itself is actually a really useless crypto; other tokens are outward expressions of actual blockchain work. Even BTC uses ETH to coordinate financial transactions; ETH prices having skyrocketed makes these gas fees pretty untenable at the best of times, and the flattening (and subsequent removal of miners to process those fees and the move to Staking processors) will cause those fees to get lower for
all crypto transactions, including BTC.
BTC is quite literally just a currency stand-in (which imo limits it's overall value, since it's almost entirely driven by speculation), vs other cryptos like ADA, ETH, XLM, COMP, etc. which actually serve purpose and do work as a protocol. At best, BTC is just going to become another fiat currency, albeit one that is untraceable and is decentralized.