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I don't really understand the other guys' argument, but I don't necessarily agree with you either. In my opinion, bitcoin will be overtaken by another coin, mo
by Styx- 10y ago
I don't really understand the other guys' argument, but I don't necessarily agree with you either.
In my opinion, bitcoin will be overtaken by another coin, most likely ethereum. This is because while bitcoin has many issues, the underlying tech (blockchain) is sound.
The reason ethereum will succeed is because it is not just a currency. It's not even mostly a currency. It is a decentralized network that gives users the ability to engage in trustless programmatic contracts.
Decentralized, meaning that no one person has the ability to tamper with important documents or files.
Programmatic in that contracts are actual programs that get run at a predetermined time.
And trustless in that some third party mediator isn't required to enforce terms. This point is the most important because it means that organizational structures that simply would not be feasible otherwise are possible.
Organizations as we know them today are necessarily built like pyramids (governments, large corporations) or they are kept very small for mobility (startups). With trustless organizations, this won't (always) be true anymore.
And with the momentum of these features, I could see Ether (Ethereum's currency) dethroning Bitcoin. It's already got a fifth of the market cap that BTC has.