Re:Crypto crash deepens, stocks slip
by afavour on Wednesday May 19, 2021 @10:43AM
(#27209334)
Isn't Bitcoin absolutely terrible at transactions, though? It's too slow to ever be used as a cash alternative. Why wouldn't an alternative cryptocurrency fill that void then leave Bitcoin with no actual value at all?
[ Parent
| on HN ]
My comment was more referring to cryptocurrency and the blockchain concept in general, I probably should have been more clear.
You are right that BTC isn't that useful as cash. I don't think BTC will be dominant forever, there are already superior cryptocurrencies for use as actual normal currency. If/when another crypto really does fill that void and achieves major adoption, I think BTC will probably retain some value, for speculative reasons and also just because it has the oldest chain.