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But doesn't Bitcoin have an advantage in the "value protection"/digital gold use case because it uses proof of work and has a finite number of coins?
by randomopining 6y ago
But doesn't Bitcoin have an advantage in the "value protection"/digital gold use case because it uses proof of work and has a finite number of coins?
- LeoPanthera 6y agoIt does, but its insistence on tiny blocks means all transactions are extremely expensive. Bitcoin Cash adheres to the original Bitcoin design, has moved to larger blocks, but still retains all the other advantages. And it's not the only one, few cryptocurrencies are as expensive as Bitcoin to transact.
- anonymoushn 6y agoI'm not convinced that PoW with prohibitive hardware costs and hashrate concentrated in a single totalitarian dictatorship is better than other consensus mechanisms. Many other things than Bitcoin also have finite supply.
- randomopining 6y agoNothing as ubiquitous though...?