Search

Sunday, January 14, 2018

In 20 years Bitcoin will be to crypto what AOL is now to the internet

AdoptionIn 20 years Bitcoin will be to crypto what AOL is now to the internet. (self.CryptoCurrency)
submitted  by raciallyambiguous
Less than 2 decades ago, the public was sold on paying for their internet by the hour, and AOL was the only king. Eventually people moved on to much different and better alternatives to get their porn beamed to their house.
I think we’ll see something similar over the years to come with Bitcoin. It’s the general public’s entry point into crypto, but once they are in they realize how much better other cryptos are for multitudes of reasons.
Tl;dr I think your bitcoins are going to be about as valuable as your 20 hours of free internet CDs from AOL
[–]Leyla232Monero fan 77 points  
I am bullish on certain alts (more than on BTC) but people are spreading a dangerous narrative (”BTC is bad tech”) here and they want Bitcoin to fail, not realizing that this would crash the entire crypto space for a very long time. (For example, what would be the point of Eth being 0.5 BTC if the dollar price would be 10$?) A failing Bitcoin would destroy market sentiment, mainstream would turn its back.
There are lots of upgrades coming up for BTC, better to implement slow but safely, Bitcoin doesn’t have to be ready today it has to be ready for the future. Bcash was only invented because Segwit breaks Jihans Asic Boost exploit but so many here have swallowed their crooked propaganda. The few good alts will benefit from BTCs rise, the rests will remain pump and dump schemes and will have a hard time competing with BTC.
[–]ReasonOz 33 points  
people are spreading a dangerous narrative (”BTC is bad tech”) here and they want Bitcoin to fail, not realizing that this would crash the entire crypto space for a very long time.
The inverse of "a rising tide lifts all boats".
I'm honestly stunned at how many people in the crypto space don't get this.
[–]ZE1nhhfvnh91sFT3A98gBitcoin fan 10 points  
I am bullish on certain alts
I wonderX whichM coin(s)R .... :P
[–]Leyla232Monero fan 2 points  
Well, I obviously like Monero but there a few others as well... :)
[–]mETHaquaIone 1 point  
Which others specifically, just out of curiosity? thanks :)
[–]SamuelSmashMiner 3 points  
(For example, what would be the point of Eth being 0.5 BTC if the dollar price would be 10$?) A failing Bitcoin would destroy market sentiment, mainstream would turn its back.
I think ETH is already big enough to take that hit (Or getting big enough). When BCH reached 2500$ and BTC dropped to 5600$, ETH went from 310$ to 298$.
[–]Leyla232Monero fan 5 points  
But it’s about the overall sentiment in the cryptosphere depending on BTC. A lot of people have been brainwashed into wanting BTC to fail.
load more comments (2 replies)
    [–]bhougland18 3 points  
    I'm bullish on AOL
    [–]_CrackBabyJesus_ 3 points  
    Really need to get fiat to any crypto exchanges so it's like buying stocks, and that way the entire crypto market won't crash every time bitcoin falls. Having BTC trading pairs is bad for the market and the quicker we can get away from that, the better. I believe one of these times the bitcoin core devs will get their shit together and do something to fix it's issues.
    [–]Leyla232Monero fan 7 points  
    It's not only the BTC trading pairs, BTC represents the mainstream trust into crypto and at least currently this trust is important. BTC failing could turn a lot of positive sentiment around. The high evaluation the entire cryptospace has at the moment is based on BTC. BTC is like a big turtle which slowly but steadily goes its way, and the alts are doing races on it's back.
    load more comments (5 replies)
      [–]BudgetLush 2 points  
      Oh, killing bitcoin will hurt, but it will hurt even more in couple years. For anyone not planning on going back to fiat soon, why try to prolong the meaningless bubble at the expense of development?
      [–]Leyla232Monero fan 12 points  
      On BTC 90% of the work was done and all other cryptos profit from that, and still so much work is being done: Lightning Network, MimbleWimble, Rootstock etc. And other cryptos will profit from that, the whole "BTC is bad tech" narrative is just plain wrong and propaganda (the self damaging kind).
      load more comments (13 replies)
        [–]Tribal_Tech 4 points  
        AOL is a media company now owned by Verizon. While they do still have some AOL subscribers they are a shell of its former self.
        [–]jgiambona> 3 years account age. < 300 comment karma. 1 point  
        Believe it or not, I still have clients that use AOL for email..
        load more comments (2 replies)
          [–]ninemiletree 141 points  
          Isn't it already?
          I mean, when AOL first came out, it wasn't like there were a dozen broadband providers right behind it waiting to give you cable internet.
          But Bitcoin very saw a whole slew of tech that did its job far better and faster.
          [–]mufinz2 57 points  
          It is, and the piece that people don’t understand is the world and communication moves a hell of a lot faster now than it did back then. Like orders of magnitude faster. It’s not going to take years for crypto projects to unseat bitcoin. It’s going to take months.
          [–]ThisIsNotDreObserver 75 points  
          I think you overestimate the average person's knowledge of the whole crypto market. Most don't even really understand bitcoin, they just see an increasing investment. If the crypto market moved away from btc to other cryptos in just a few months be ready for the long hold as the average joe is going to panic sell, and everyone else who hasn't invested is going to feel self-righteous calling it a bubble/scam. That's basically what's been happening today, BTC going down while other coins go up and you've got people worried about the price dipping so much.
          I'm not saying other coins won't take significant portions of the total market cap away from bitcoin, but the general public is nowhere near educated enough on crypto projects and blockchain technology for them understand or even care about BTC v ETH v XMR v DASH. People at my office that are ready to throw a couple thousand into the market are looking into ETH and LTC not because of their tech, but because they see them as more "affordable" with the mindset that you can only own whole units of cryptos...not fractions of them.
          Yes, the internet makes things catch on quicker, but there's a serious knowledge gap that exists before "but the tech is old" matters to a lot of the money in BTC right now.
          [–]bLbGoldeN 32 points  
          And I think you underestimate the average tech business (and general business, to be honest)'s knowledge of the whole crypto market. It does not matter if Aunt Margaret invests in Bitcoin in 2018 because she heard about it on the TV. Companies will not bet on a burning piece of garbage like Bitcoin, and whatever they pick will win. I guarantee it. See: Bosch/IOTA.
          [–]royalbarnacle 5 points  
          Well, it'll be interesting to see what happens when companies start people getting on the crypto train, but I don't think anything is guaranteed at all.
          [–]theivoryserf 2 points  
          I don't think anything is guaranteed at all.
          Good, where would be the fun in that? ;)
          [–]bhougland18 2 points  
          I am not so worried about the consequence of BTC getting less popular, but the blockchain as a whole. Billions of dollars have been spent on blockchain based coins, apps, etc. Iota may spoil the party with the DAG. If this is the case then there will be a panic. Due to this we must spread as much FUD as possible against DAG based coins (for the good of everybody invested in the blockchain).
          [–]bLbGoldeN 2 points  
          ...that's one of the most moronic things I've read this entire month, and I work in social media customer support. That's bad.
          [–]flyingalbatross1 2 points  
          I think he might be being sarcastic. But i'm not sure. Applause if so, downvotes if serious.
          [–]GlobalVagabond 5 points  
          Yeah, Bitcoin is just now entering the everyday Batdad's world https://www.facebook.com/BatDadOfficial/videos/1663192900390866/
          [–]lucky_rabbit_footRedditor for 2 months. 8 points  
          What? You weren't actually around for AOL, were you?
          It was a dialup service for a very long time. It wasn't an internet provider, it was basically a big BBS. It was a big deal when AOL first started offering internet access through their service.
          [–]isskewl 3 points  
          Dialup service = isp back then
          at
          Labels: ,

          1 comment:

          1. loda lasanMay 31, 2021 at 5:16 AM

            I get very helpful and useful information from your site . It aslo helpful for newcomers , keep going. I would like to suggest to you something whichis really interesting click here. Autoclicker

            ReplyDelete

          Subscribe to: Post Comments (Atom)