Doesn’t matter if you’re a Bitcoin maximalist or a multi-coiner. We won’t truly change the game until we get the US govt to legalize competing currencies and treat them the same as USD. If not, we must accept the slow trickle of growth that characterizes the long-game most of us are playing.
HODL for sure, but we also must start fighting for the freedom to use whatever money we choose.
Justin Bons: "Bitcoin Cash needs to both be compatible with DeFi & capable of doing DeFi for itself in order to fully compete with other cryptocurrencies. It could very well be that we will see mass adoption of DAPS due to their utility & tangible economic benifits before currency adoption."
Bitcoin/Gold/Competing Currencies have to become legal tender for global civilization to truly flourish
While I agree that there are certainly ways to build around and outflank the established monetary system, we have to become more focused on convincing people to come to our side and treat Bitcoin for the truly unique invention that it is. Allowing people to use Bitcoin as a currency and pay taxes with it without worrying about capital gains will undoubtedly lead to an uptick in economic transactions. Although even if this doesn't happen, Bitcoin will still exist as a very useful store of value and reserve asset. Bitcoin is a peaceful social and economic revolution that represents a last ditch effort by humanity to save itself. Bitcoin can help to reduce wealth inequality and reign in our excessive consumer economy that destroys our environment. Bitcoin can lead to a more sustainable human civilization. Our politicians need to understand this. We have to fight for freedom and voluntary association. If Asia is seriously considering a gold backed currency, then other countries have to think of ways to compete. Bitcoin will soon become part of the geopolitical balance of power. For these reasons Bitcoin needs to be completely untaxed and unregulated. Let it flourish.
Bitcoin-BCH is the top cryptocurrency in the world by market cap. Bitcoin-BTC is not a currency its a settlement layer, ETH is a world computer and digital oil, Ripple is fiat currency. The oligarchs are competing with their garbage, but Bitcoin Cash is still the #1 cryptocurrency in the world.
07-04 19:43 - 'Donald J. Trump: "China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies"' (twitter.com) by /u/jam-hay removed from /r/Bitcoin within 389-399min
06-03 20:54 - 'Dr. Waller (central banker): "I already compete against 150 currencies. I dont care about Bitcoin. Bring it on"' (twitter.com) by /u/blockchaincenter_de removed from /r/Bitcoin within 74-84min
"Bitcoin is a revolution currency but a fairly inefficient payment network. If people turn this on its head and try to market bitcoin as a payment rail where the currency is an unfortunate requirement, it would be immediately out competed in the market ..." - gmaxwell
Will competing crypto-currencies devalue Bitcoin, effectively bringing inflation in another form?
I've wondered what the results of these other crypto-currencies will have on Bitcoin? Will LTC, PPcoin, Bytecoin, etc have a negative effect? With merge mining, a whole bunch can sprout up with very little work needed. They can piggy back on the Bitcoin miners. Is it actually in their benefit in the long run to merge mine? Perhaps they are making their Bitcoins less valuable by enabling a competitor? Will people see alternative crypto-currencies as a type of "inflation" and something that is harmful? I don't know what to think. Part of me is excited to see other currencies start up but the other part is skeptical. Will people avoid businesses that take multiple crypto-currencies and take their business to places who full-heartily embrace bitcoin and not a mixture of ones devaluing bitcoin? Will people protect against competitors or embrace them possibly bringing "inflation". Or perhaps I don't understand the issues at all. LOL.
Bitcoin – The De-Facto Cryptocurrency of Choice. This is especially the case when it comes to providing a liquidity bridge between two competing currencies. Price and Valuation Specifics. Much like the rest of the cryptocurrency industry, the value of Ripple went parabolic in 2017. At the start of the year, a single XRP token would have Bitcoin relies on so-called “mining” computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. to modern government-backed currencies The issue of competing currencies. Case study – Bitcoin 107 Valladolid “neighbors”. In Sevilla were issued “jaras” and “cougars”, in Catalonia “the echoes” have spread and the Basque Country uses “eusko”. (Dumitru, 2013) A special category of alternative currencies is the crypto-currency, which bitcoin.org: Tonal Bitcoin: TBC 2011-01-02 Low ~21,000,000 SHA256 PoW First on-chain alternative. - BCash BCH 2017-08-01 Low ~21,000,000 SHA256 PoW BCash is an altcoin based on an old snapshot of Bitcoin's blockchain (2017 Aug 1) with replay protection and an increased block size limit of 8MB. Hayek’s Proposal of Introducing Competing Private Currencies the first private digital currency in the form of Bitcoin made its entrance in the realm of Web 2.0. Since then more than 1,500 cryptocurrencies (in their entirety better described as crypto assets) with a market capitalization totaling roughly USD400bn have entered the market.
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A History of Competing Currencies: Dr. Ron Paul Litecoin Summit 2019. In this speech from Litecoin Summit 2019 from Las Vegas Nevada. Dr. Ron Paul Former Texas Congressman & Presidential Candidate ... I asked her about the value of bitcoin from an Austrian Economics perspective, and how Hayek predicted competing currencies. If you liked this video, please subscribe! Bitcoin: The End of Money as We Know It - For anyone who has not fully understood the controversial Bitcoin yet, this is a concise and informative crash course about Money and Crypto Currencies. Inside the Crypto-Kingdom (2nd Episode): The Cryptocurrency Goldrush: The current hype about bitcoin and other cryptocurrencies as millions are made and lost make for great headlines, but misses ... What is Bitcoin? What is a crypto currency? How does Crypto currencies work? Can Crypto currencies be converted to cash? What is Bitcoin used for? How secure are Crypto currencies? How to invest ...