RE: The Argument Over Bitcoins Value
You are viewing a single comment's thread:
The way I see it is all these other tokens can't have economies without BTC. If you tried to launch STEEM without BTC and try to build fiat to steem payment rails it would be almost impossible with such a tiny network, BTC has laid the foundation and value flows through it.
All alts are Tethered to BTC and are to me basically rehypothecation of BTC, if I sold all my HIVE today, there wouldn't be enough liquidity to give me the value it claims to have tokens are great experimentation and are needed and yes we will tokenise a lot of things but it will always be tethered to BTC
BTC will also have smart contracts, and tokens we see OMNI and RGB launching soon and BTC's second layer will grow to absorb more value. The bigger BTC becomes the more capital can flow into things like lightning.
I don't doubt there will be niche tokens in the future just like there are millions of websites, but there are only a few important sites that really matter to the world, same with BTC
Posted Using LeoFinance Beta
I've heard of OMNI and the prospect of more stuff being built on BTC, but don't know very much about it TBH - but isn't ETH kind of streaks ahead there?
Also I would have thought that the more crypto I can buy for FIAT the less dominant bTC comes - I can buy and sell Hive for dollars on Huobi already, and so many other cryptos too.
I'm certainly glad I've bought into BTC - having diversified with my Steem shitcoin money - but I'm sceptical!
I'm still learning however!
Posted Using LeoFinance Beta
Yes you are right ETH is miles ahead, that's their use case, I think BTC is like a stick to alts, so if ETH and alts create something the market wants, BTC will absorb it, then it becomes the standard, so the alt needs to continue to innovate, chasing a new carrot, giving us more options and BTC is just the floor that keeps rising
I don't see them as competing I see the entire market working together in competition with each other, its weird but it works.