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Yeah I read about this ... will be interesting if someone can solve it. There have been things like this in the past I believe, but never with this much money involved.
Yes. And I don't doubt that some cryptocurrency will have that moment, it seems inevitable, but it probably won't be Bitcoin. Bitcoin will be the Mosaic browser in the analogy. The first, yes, but overshadowed and long forgotten when crypto (Netscape) goes mainstream.it still needs the kind of "netscape-moment" the internet had...
That's certainly possible. However, the more I read about it and look into other coins, none has appeard yet that is truly decentralized like Bitcoin is. Which is Bitcoins strongest most important point. You can make other coins scarce, you can make them technically superior in any way. As soon as one guy or a team or a company is in control, all goes downhill in comparison. First because of trust-issues: then you have to trust the guy. Or the team. Or the company. Secondly, as soon as this coin becomes a real threat in an economic sense to centralized banking, there will likely be "repercussions" for the guy, the team, the company. Yet Bitcoin is like P2P/filesharing ... it's a protocol without a singular point of control.but it probably won't be Bitcoin. Bitcoin will be the Mosaic browser in the analogy.
I think the theory is that transaction fees will (have to) carry the network then.What I wonder is when all the Bitcoin is "mined," who is going to pay for those blockchain transactions?
That would defeat the very spirit of Bitcoin, but it's certainly possible. One way or another. We haven't even entered the threat/fight stage yet. The music industry was once a gargantuan global industry that fought teeth and claws (and much too late) against the changes brought by tech and the internet. Who could have imagined at the peak of say CDs and Michael Jackson in the late 80's/early 90's that the future of this industry would be mumble rap on spotify and youtube?But I get the feeling that cryptocurrency, when it catches on and is easy to use, will likely be owned by banks
We made it from 2006-2019, we can do it!In any event, this forum will still be here in 15 years (he predicts with impunity)