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Bitcoin has continued clearing transactions throughout, just as it always has since its creation. Crypto != Bitcoin.
by kayamon 4y ago
Bitcoin has continued clearing transactions throughout, just as it always has since its creation.
Crypto != Bitcoin.
- spicymaki 4y ago> Crypto != Bitcoin Please explain your reasoning.
- aftbit 4y agoI'm not the parent poster, but I believe the explanation is: 1. "Crypto" as a space includes a lot of things like Centralized Exchanges, which are really just like unregulated banks. 2. "Bitcoin" the network is a subset of the crypto space and was not in any way impacted by whatever the latest scammy CEX decides to do.
- spicymaki 4y agoThanks!
- kayamon 4y agoYou can print more crypto. You can't print more Bitcoin. You could make a competitor to Bitcoin, and thereby print money that way, but it takes energy. It takes energy to make new Bitcoins. And people can't use their energy for two things at once, they have to pick one. Only one blockchain can (in the long term) maintain and secure a position, the one with the longest proof-of-work chain. The others won't remain stable. Mathematics takes time and energy. The more Bitcoin secures itself the more the other crypto gets pushed out of the mining market.
- hypertele-Xii 4y agoExcept, of course, all the forks that have happened, and thus all the "old bitcoin" that no longer trade. https://en.wikipedia.org/wiki/List_of_bitcoin_forks https://en.wikipedia.org/wiki/List_of_bitcoin_forks