Lereldi
Newbie
- Jan 23, 2018
- 14
- 0
Hello BHW community,
first of all thanks for being the best SEO community.
I want to give something back for all the useful information provided by countless people.
I wrote and academical paper about the topic cryptocurrencies for school ( if anyone is interested in the full ~ 20-page pdf, just ask) so I would consider myself aware of most of the advantages and disadvantages.
I am not going to explain how they work, as this took about ten pages to explain this on a surface level.
To sum up my opinion about PoW and it's trademark, Bitcoin: I don't think that PoW is sustainable in the future. PoC and PoS are much better in my opinion even though they obviously have their flaws as well.
The sole reason Bitcoin is so expensive is the hype and media that led people to invest in Bitcoin without doing any research. The fees of competitors are lower, the transaction speed is higher, or the network is entirely anonymous. With all that said, I don't want to deny the big impact that Satoshi Nakamoto's Bitcoin whitepaper had for or current financial system. Having a decentralized system that doesn't rely on a single trusted third party (aka. banks) is just a great idea.
Other problems are being addressed. For example, Ethereum is most likely gonna hard fork the coin with the so-called Casper protocol and change from PoW to PoS.
And most of the coins are still in their infancy. You can't expect to have a perfectly working new banking structure in 10 years.
Some coins to look out for:
-Privacy coins, they will always be interesting for illegal activities, so they will most likely maintain their value. The 'best' privacy coin is Monero; their ring system does what tumbling services offer for Bitocin.
Sustainable coins: There are countless ones out there I haven't decided which developer team and concept I like the most. I just have done too little research to give a sound recommendation.
And last but certainly not least:
IOTA, I could write pages and pages about what I like about this project. I'm gonna keep it short:
THE IDEA IS FUCKING AWESOME, the Tangle is supposedly quantum-proof already, even though quantum computers aren't a thing yet.
That's it. I hope you enjoyed this short read. I am open to discussions, and I hope to stimulate a discussion with this post.
first of all thanks for being the best SEO community.
I want to give something back for all the useful information provided by countless people.
I wrote and academical paper about the topic cryptocurrencies for school ( if anyone is interested in the full ~ 20-page pdf, just ask) so I would consider myself aware of most of the advantages and disadvantages.
I am not going to explain how they work, as this took about ten pages to explain this on a surface level.
To sum up my opinion about PoW and it's trademark, Bitcoin: I don't think that PoW is sustainable in the future. PoC and PoS are much better in my opinion even though they obviously have their flaws as well.
The sole reason Bitcoin is so expensive is the hype and media that led people to invest in Bitcoin without doing any research. The fees of competitors are lower, the transaction speed is higher, or the network is entirely anonymous. With all that said, I don't want to deny the big impact that Satoshi Nakamoto's Bitcoin whitepaper had for or current financial system. Having a decentralized system that doesn't rely on a single trusted third party (aka. banks) is just a great idea.
Other problems are being addressed. For example, Ethereum is most likely gonna hard fork the coin with the so-called Casper protocol and change from PoW to PoS.
And most of the coins are still in their infancy. You can't expect to have a perfectly working new banking structure in 10 years.
Some coins to look out for:
-Privacy coins, they will always be interesting for illegal activities, so they will most likely maintain their value. The 'best' privacy coin is Monero; their ring system does what tumbling services offer for Bitocin.
Sustainable coins: There are countless ones out there I haven't decided which developer team and concept I like the most. I just have done too little research to give a sound recommendation.
And last but certainly not least:
IOTA, I could write pages and pages about what I like about this project. I'm gonna keep it short:
THE IDEA IS FUCKING AWESOME, the Tangle is supposedly quantum-proof already, even though quantum computers aren't a thing yet.
That's it. I hope you enjoyed this short read. I am open to discussions, and I hope to stimulate a discussion with this post.
