Drawbacks of Bitcoin — luck for another cryptocurrency?

BTC is an in-demand cryptocurrency project. Since its doundation (10 years ago), Bitcoin is still the most popular product. This is a repository of value, the level of which could not be reached by any other coin.

Despite this, BTC is imperfect, and all crypto popularizers admit this. It’s expensive:

  • *  commissions often exceed the amount of the transfer;
  • * its mining costs fabulous sums.


Small transactions are waiting in line for several hours, or even days. The time to create a new block is 10 minutes. All these shortcomings, despite a number of forks, didn’t give the cryptocurrency a chance to “spread its wings” and become an indispensible part of today's reality.

But this imperfection has become a success for many other crypto projects. LTC appeared first in the altcoins family. Its blockchain had an obvious similarity with Bitcoin, but was faster and more scalable. The second was Ethereum, which became a platform for running decentralized applications.

Each of these projects had its own characteristics and solved one or several problems of the first cryptocurrency blockchain. A truly revolutionary project which preserved all the advantages of BTC became our E-CHAT.

It is sad that attempts to improve Bitcoin, and the first cryptocurrency itself, cause an inadequate reaction among many representatives of the altcoins teams. So, these days the main developer of Litecoin - Charlie Lee - called the supporters of Bitcoin extremists.

Such a post appeared in his social network account on Twitter. It’s not quite clear what Lee was guided by when saying such things, but it is surprising that he went much further than simple words.

On Twitter, he created a survey, inviting users of the crypto sphere to vote who they consider themselves: BTC Extremists, BTC Maximalists, Altcoin Maximalists or “Nocoiners”.

At the time of publication of the article, the survey collected more than 24.3 thousand votes, and Charlie Lee obviously didn’t like its results. Only 32% of people attributed themselves to altcoins fans.

48% of respondents are convinced Bitcoinists. And only 9% pressed the “BTC Extremist” button. Even the “Nocoiner” gathered more votes - 11%.

Lee's words struck prominent figures of the crypto sphere. Many don’t agree with such a forceful wording. Jameson Lopp from BitGo believes that Bitcoin advocates didn’t deserve such a harsh assessment of their activities:

“Bitcoin Supremacists, please. Extremists has a negative connotation.”

Ragnar Lifthrasir went even further and accused Charlie Lee of ignoring someone else's opinion. The founder of the International Blockchain Real Estate Association (IBREA) believes that Lee thinks incorectly and uses slang for nothing:

“Extremism is not only jargon, but also slander against anyone whose opinion is different from your own.”

In general, the rest of the community’s response to this post is low-key. Experts point out that such bursts of resentment do not make the weather. Only a free market and real practical use will separate successful projects from scams in the cryptocurrency sector!


  • Date news 01/23
    2019
  • Views news 437
slide top