Change requires innovation, free market inspires competition and innovation leads to progress. It’s Blockchain technology and the solution it provides that creates value. It’s the internet of money. This disruptive technology is still in its infancy and the journey has just begun. Embrace the technology, but please remember there’ll be many Netscapes, Myspaces & Blackberrys on the way. Don’t get attached to branding, get attached to the underlying technology. Approach Blockchain technology as you would purchase a new phone. Examine and research the different makes and models available comparing specifications, features and functionality in order to be able to make an informed decision on selecting the best option suited to your needs and not just focussing on price point.
This isn’t about making money, it’s about making change. It’s the money revolution. We’re making monetary history right now. What do you want the future of money to be? Whose vision, objective and roadmap do you align with? I personally feel there are too many momentum monkeys that are too fixated on daily price movements and chart action. That is the wrong approach to have for a long-term outlook and position. Those price movements are a result of yesterdays news. I care about what’s going to happen tomorrow and the day after then. You should be thinking about the end game. Who are leading the path forward, who is innovating push tech boundaries.
If Blockchain really is the future of money, you want to make sure the solution you’ve backed is ready for prime time and has a scalable plan for mass adoption. That it’s secure and the solution you’ve backed has a robust solid Core team, working governance model, internal funding and a development road map that has an objective and vision you truly believe in.
Otherwise you’ll get scaling issues that last for years. Splits and divides in communities. Core teams members turning against each other escalating in to bitter feuds and rivalries at the expense of the project and everyone else. The need to sell out and prioritize private 3rd party companies to get paid so you can fund development that creates a conflict of interest and stifles innovation.
The proof is in the pudding my friends. Ask yourself. Why is Bitcoin in top market cap position when it’s not suitable for real world use, lacks usability and functionality in comparison to its rivals?
It’s slow, expensive, has major consensus issues and in its current state is only applicable as store of value. Which strangely the Core team acknowledges and wears as a badge of honor as if that was the true intention of its origin and purpose of creation?…
Are you really happy with that?
How long are you seriously going to be dragged along? How much Kool-Aid are you going to drink before saying enough is enough. Be honest with yourselves, segwit activation was meant to solve the transaction fees issues. Well did it? no it didn’t. Are you ok with that? Seriously… Who are you kidding here?.. How much time was wasted arguing about activating Segwit in the first place.
The most frustrating part for Bitcoin holders is that while all this was going on other tech enthusiasts took it upon themselves to fulfill Satoshi’s white paper vision where Bitcoin has failed. A real solution that is fit for purpose that the world can world use.
Don’t get me wrong folks, I know the real enemy here is the legacy banking system. No one wants to blow up the Central Banking Death-Star more than me. I want financial freedom for the world.
But Bitcoin is not doing that and appears to be quite content remaining just a store of value.
Why do I take issue with this and why is that a problem? Because how can you be a true alternative currency if your solution is more expensive, slower and cumbersome to use than the solution your trying to replace. It’s not fit for purpose.
The Bitcoin transaction fees are more expensive than the cup of coffee you want to buy and not only that, to add further insult to injury the Bitcoin transaction fess are more expensive than the MasterCard, Visa, American Express payment processor fees of the solution/system you want to replace. Bitcoin is simply not viable as a medium of exchange or feasible for an alterative currency for the world.
Holding Bitcoin in top position is actually holding back the money revolution from taking place. We can’t push Blockchain technology for business adoption with Bitcoin. It doesn’t work. Stop making the rest of us look bad. We’re ready to move to phase 2, but while you’re holding us back. Other cryptos have solved Bitcoins scalability issues, the consensus issues, transaction fees, speed and privacy problems already. We have working solutions. Why are Bitcoin holders not supporting innovation? Are you only in this for the money or are you in this to change the world for the better.
Have you read and understood the reasons why Satoshi Nakamoto wrote his white paper titled “A Peer-to-Peer Electronic Cash System“. Notice the word Cash not store of value!
This was meant to be the money revolution. A solution for the unbanked of the world? Do you remember that? Do you remember the Cyprus Bank Bail-ins and Euro-Zone on the brink of collapse? I sure do. What about half of the worlds adults that don’t have bank accounts. What about them?
We should be pushing this Blockchain technology to help people of the world suffering from central banking currency crisis like Venezuela and Zimbabwe.
But Bitcoin maximalists are telling me you’re happy with the status quo. That you’re happy for Bitcoin to just be a store of value. That you’re fine with being used as a supplement alongside the fractional reserve banking debt based system. That you no longer subscribe to the origin and inception of what blockchain technology set out to solve. What happened to that message. It appears greed and personalities have hijacked the intentions and inspirations to fit their own criteria.
It’s no good as a medium of exchange. Wall street paper pushers are more than happy to push Bitcoin as a financial instrument even attempting to push Bitcoin as a derivative purely for the speculative option trading arena. This was one of the fundamental reasons and causes to the major financial crisis of 2008. Yay, more margin trading pushing more debt and speculative casino type credit borrowing that we want to get away from. Wall Street says “Here you go sir, have a paper receipt, it tracks the price.” My reply “No thanks mate, I’d rather have the real thing. Same price but I actually own it and can use it. There’s a major difference.”
For the millennials out there: “The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. They created interest-only loans that became affordable to subprime borrowers.“.
For example – the latest disclosure from the CME is that the ratio of paper gold vs. the amount of deliverable ounces has spiked to over 200:1. In other words, the Comex gold market is now a 100% artificial leveraged market with over 200 IOU receipts per every deliverable. Sounds amazing! Hence the old saying “if you don’t hold it, you don’t own it!“. Is this really what you want for Bitcoin, seriously folks beware of individuals pushing futures / options markets with cryptocurrency. We’re meant to be moving forwards not backwards.
“Those who cannot remember the past are condemned to repeat it.” – George Santayana
Why are the best developers in this tech space no longer interested in Bitcoin. Perhaps it’s because they know the framework is broken and governance and funding model is broken beyond repair. They want to innovate and create new solutions to bring blockchain technology to the mainstream.
To be a true alternative currency it needs to be:
- Unit of account
- Store of value
- Medium of exchange
Let’s get one thing straight. Bitcoin has no ownership of Blockchain Technology. They started a conversation, but ultimately it was a project built around an idea, a concept. This technology was always intended to be open source. To free the world of the debt based banking system, to help the world prosper and not fall victim, to learn from previous mistakes to stopping the fiat currency cycle of failure history repeat itself. It was to help us evolve and make us question What is money?… What should money be? How should money be created? This wasn’t simply about taking back control from banks. This was about achieving independence and finding a better way through technology. Technology has changed the way we work, the way we live. Why are we still trusting privately owned banks to hold and control our money? It’s nearly 2018 people, we should have the freedom to empower ourselves by becoming our own banks and give financial freedom to the world. A solution by the people for the people.
The Blockchain technology bus has left the station innovating and creating new solutions meanwhile Bitcoiners are left waiting at a bus stop for a bus that is never going to come.
Bitcoiners don’t just settle for what is currently available and believe that’s the end of the road on the Blockchain debate. The Blockchain is already evolving with new solutions breaking new ground pushing technological barriers.
Metaphorically speaking Bitcoin is still playing PlayStation 3, Xbox 360 consoles stuck in 2009 limitation mindset. We are now at the end of 2017 and new users have entered the market with upgraded solutions and are now playing Xbox One, Playstation 4 Pro consoles with virtual reality headsets that are ready to migrate and embrace new solutions and tech for 2018.
This is the tech generation and its user base is growing everyday worldwide. Right now, Bitcoin reminds me of the wild gunman scene in the Back To The Future II movie. Now, an old arcade machine is very nostalgic for me but realistically I appreciate it’s totally impractical and unappealing to satisfy todays tech market needs and wants.
In other words, Dash is superior to Bitcoin in fees, funding, transaction speed, privacy, governance, transaction capacity, essentially its digital cash hence the name Dash. However it is important to point out here that Dash is not the only digital currency in the game to easily claim superior tech / solutions over Bitcoin as let’s be honest it is not difficult to outperform outdated tech. Real talk – if Bitcoin worked as intended we wouldn’t be seeing hard forks in what seems like a week basis now as frustrated Bitcoin holders are forming groups to take it upon themselves to hard fork and upgrade as they have zero confidence in Core team to deliver the solutions requested by community and marketplace. That tells you all you need to know. However it’s not helping, it actually damaging Blockchain technologies reputation and the way mainstream evaluates the credibility of cryptosphere as a viable solution. Hard forks have become the ICO’s of Bitcoin.
Ask yourself is Bitcoin the best what Blockchain Technology has to offer right now?….
It’s a far long cry from Satoshis white paper and original vision.
If you’re content with the camera, performance and functionality of an old Apple iPhone 3GS from 2009 that’s great, but don’t tell me that’s the best solution we have out there today. Dash is just one solution out there building a global, decentralized, autonomous digital cash network platform product economy. The Dash DAPI will be like how the APP store solution revolutionized mobile device platform. Think PayPal 2.0 but totally decentralized and you are your own bank with an app store. It will be so user-friendly and intuitive that newcomers can use it without knowing how it functions behind the scenes just like “using the internet” it just works as intended. Utility is everything!
I will always be grateful to Bitcoin for paving the path forward. It’s all thanks to Satoshi’s vision in his white paper that we now have viable solutions. Blockchain technology has evolved. As an early adopter I fully acknowledge Bitcoin had first mover advantage. I honestly believe it’s only speculation holding the Bitcoin price over the actual tech and functionality right now. If crypto prices were to reset to $1 I believe useability, ease of use and functionality would prevail as it would do in any other industry. Why because real growth and value is based on fundamentals.
To claim Bitcoin should always be at the top because it came out first in 2009 is just illogical and technologically naive. In an age of information ignorance is a choice. We have people like former Wall Street paper pushers that have turned up to the crypto party late labeling anything that comes out after Bitcoin as a scam. Really?.. who died and made you king of the worlds monetary system and technical aspirations?! Shsssh your noise and pick up a book on free market economics. A bit harsh but true nonetheless.
Well let’s apply that logic elsewhere. Do you own an Apple iPhone or Android phone?…… Well I’m sorry to tell you all Apple and Android devices are scams, you’ve been scammed of your money because Motorola had the 1st mobile phone device in 1973. It’s doesn’t matter about its utility, any new development, research or innovation Apple or Google have created since then. As consumers we benefit from competition and so does technology. Competition inspires and drives innovation.
Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin Cash Plus, Bitcoin God, Bitcoin Silver, Bitcoin Bronze… LOL! It’s central banking inflating supply and creating new money out of thin air all over again. Perhaps we should rename to Bitcoin Dash. After all Dash was built upon Bitcoin code base but can actually function as digital cash. #JustSaying
Tired of #Bitcoin forking drama? & not a fan of #BitcoinCash take a look @Dashpay Transactions 215 times cheaper than #BTC with 8 times more capacity! #Dash 2Mb block size = 48 transactions per sec, compared to Bitcoins 7.
Dash network propagates blocks 100% faster than Bitcoin. pic.twitter.com/qRXE3jRj4V
— Mark Mason (@markdavidmason) November 12, 2017
Madness, as you know, is a lot like gravity, all it takes is a little push. You can’t make an omelette without breaking some eggs. Utility and ease of use will be triumphant in the end my friends. Simply put, at some point #TheFlippening or perhaps #TheDASHening repositioning will take place in crypto market cap as businesses and users will demand payment solutions that work. The mainstream is slowly catching up and institutional money is yet to enter the market so please stay vigilant, don’t bury your head in the sand. Time and tide wait for no man. Change is inevitable. Welcome to the internet of money! Embrace it and enjoy it!
Before anyone cries SegWit2x in the comment section, you’ve clearly missed the years of drama plagued with consensus issues and bitter feuds. History will repeat itself because Bitcoins Achilles heel of governance and funding issues have still not been resolved so I’ll leave you all with this departing gift on how I feel about SegWit2x. Feel free to sing along.