Bitcoinmagazine: 50 USD transaction fee and Energy Consumption is no issue and should not be included in Weiss Rating
https://bitcoinmagazine.com/articles/op-ed-weiss-cryptocurrency-ratings-are-laughably-bad/
Bitcoin Maximalists stay on the sinking ship no matter what
I must admit I do not like the necessity to open channels and so on, that the Lightning Network offers as a solution of Bitcoin's scalability issues.
Bitcoin magazine says that this is only because of the number of users. This is pure bullshit when one compares it to the number of transactions for example on the Steem or Bitshares network which process 5 times the transactions that Steem processes without a hickup on a daily basis. If I use that as a basis Steem should be worth a trillion USD, today.
They just hold on to old believes, they think that the cryptomarket is not as dynamic as it is. And that a letter will not replace email, because letters are so stable and have been around for thousands of years. Bitcoin will not be replaced no matter how awkward it is to use and how expensive transactions are (even in Lightning Network you have to pay for channels and for transactions).
Tone Vays also is one of those guys who has been around for only a few years and having a Wall Street background (the innovative WallStreet you know?). He is also a Bitcoin Maximalist. He called Steem even a scam, as he did not understand the white paper. Now, a few years later Steem, the scam, is having all of the innovation and interesting real life benefits Bitcoin will never have!! Like:
- instant feeless transactions
- d.tube Youtube replacement
- dlive.io Ustream replacement
- dsound Soundcloud replacement
- steem banking and curency system replacement
- Smart Media Tokens, ERC20/Ether replacement
- Passive Income for delegating Steem Power
- last but not least, steemit - facebook, reddit and twitter censorship-free replacement
Also, Steem is the only way for a content creator to make some money today, this draws all the creative minds and their millions of followers to this eco-system. This is massive!!
Steem is undervalued totally!! I think that people investing time and money in this platform will be better off than in Bitcoin...
And that, my dear friends of Bitcoin magazine, is why Steem is a buy and Bitcoin is not!
Disclaimer: This is only my opinion, no investment advice... for that please go to your government-licensed advisor.
$ 50 fee in the deal is unreasonable.This is nonsense It is theft @mexbit
The 50$ fee just was a short-cut example I used for the bad user-experience which seems to not matter to bitcoin magazine. It is not been said like this, but if bitcoin at 150 billion should be a stronger buy than Steem at 1 billion it implies that the transaction fees of Bitcoin are no issue. And I have seen transaction fees of 280 usd. Jeff Berwick said, for a large transaction of subscription fees he had to pay 2000 usd in fees. (I guess because of the large kb size of the transaction.)
For me thia means you cannot use the currency for small transactions anymore...
@mexbit - Sir the world is moving out of 1st generation crypto currencies... While world is moving to 3rd generation cryptos BTC is trying to keep their transaction fee as it is...
+W+ Resteemed
Thanks for resteeming!
Great share. BTC is crazy right now...fees are WAY TOO HIGH and SLOW for every transaction. Steem and SBD is super quick and no cost...how can you even compare?!
50 USD fee in a trasaction is totally ridiculous, i mean if you go to a place where they acept bitcoin and you order your lunch after you eat your food and you go to pay the bill and the value is $13 and you if you pay with btc your lunch will cost $63 something totally unacceptable.
As you say the energy spend mining so we have to change the ship and adopt blockchain 2.0
Thoughts about this cyptomarket Created with Sketch. schmitymctit (42) in btc • 7 months ago. If you have one bitcoin, current price is $2165. I was doing some thinking and trying to decide what way is the best to earn with cryptocurrency. I believe, one day cryptocurrency will be the future. I'm trying to decide which would be ..
thanks for sharing @mexbit
There is positively no motivation to twist around for direction. The requirement for government officials achieving agreement is finished. It's a great opportunity to have a go at something new with zero waste zero misrepresentation and zero defilement all without the viciousness.
I completely agree with you that old technologies like Bitcoin and others are already going to the past because of their lack of profitability. In return, others must come and the Steem in this regard is an excellent alternative. I'm sure the time of full sunshine for the Steem is already behind the door and remains very little, what would this door open! Thank you @mexbit
BTC on Steemit — Steemit
https://steemit.com/steem/@steemydino/how-to-deposit-bitcoin-btc-on-steemit
Here are the steps below: Go to the "wallet" tab on your account. you can get to wallet from clicking on your… by steemydino.
I purchased my first BTC in 2015, and when I did, I was scolded. The naysayers said that my money would be gone; they said that the cypto market was too volatile and unpredictable. The notion that BitCoin is unpredictable was largely contradicted in 2016, and many predict it becoming more valuable - especially if current ...
Thank you for sharing
@maxbit Resteemed......
Thanks for resteeming!