WILL BITCOIN END UP AS A DIGITAL COLLECTORS CODE?

This article reflects the sentiment from when BTC was $13,000, Dec. 8, 2017. I cannot imagine what the feeling is now when the BTC transactions remain slow, its price is less than half of when this article came out and the fees remain high percentage wise, compared to the rest of the other cryptocurrencies. Worse yet, SegWit isn’t working. SegWit 2X was never implemented and The Lightning Network, the second layer solution that would “supposedly” fix the BTC scalability problem, is far away from being completed, despite the advice of experts who are absolutely sure that its implementation simply WON’T WORK!

The best Cryptocurrency in the world will require the highest transactions in the world. At the phase of 7 Transactions Per Second (TPS), BTC is ligh years away even from EOS, which is $4.80 and it reached almost 4,000 TPS. and the Lightning Network will not arrive on time to save BTC.

After nearly nine years in existence, the closest thing to the kind of Bitcoin-powered payments Nakamoto envisioned is on dark-web markets: the websites like Valhalla or the now-defunct Silk Road that can only be accessed through the anonymizing network Tor. Bitcoin is the default currency on the dark web — but the speculators driving the current bubble are making it difficult to use Bitcoin for actual transactions. “Fuck you Bitcoin,” one buyer commented on the dark-web subreddit. “Went to do a direct deal today with a vendor, realized my $250 purchase would end up costing me $315 or so with fees and would still take probably 24 hours to get to him.”

The Nakamoto whom created Bitcoin was a libertarian who wanted to create a system for payments that would circumvent governments, bankers, and corporations. Instead, Bitcoin is now a get-rich-quick scheme that retains none of the exciting, anarchist features it proposed and has created a secondary economy with financial shenanigans that mirror the ones that led to the global financial crisis. Goldman Sachs says it is “exploring” a Bitcoin trading operation, and on Monday, two finance companies will launch Bitcoin futures contracts so that even more betting on the price can take place. It’s as if we invented the internet and then turned it over to AT&T to operate with switchboards.

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