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What do you imagine would be the incentive for users to use later-generation alternatives, rather than BTC?
by Vadoff 7y ago
What do you imagine would be the incentive for users to use later-generation alternatives, rather than BTC?
- tuesdayrain 7y agoThe benefits of alternative cryptocurrencies are faster, cheaper, and potentially anonymous transactions. Bitcoin's use of PoW and limited supply means that transaction fees will always be necessary to provide miners with rewards once all the coins have been mined. In my opinion that is a tradeoff that will cause most people to use BTC as a digital store of value rather than a form of payment. I think that if a cryptocurrency ever becomes widely used for payments, it will be one that uses Proof of Stake/an inflationary supply and can therefore avoid relying on transaction fees.
- glofish 7y agosomething that is not limited perhaps? there is growth everywhere, every day millions of people create new value, if limited bitcoin were to represent it then it would have to rise in value - but that makes it a bad deal to spend the bitcoin if you know tomorrow will rise in value