CNBC’s Arjun Kharpal hosts a panel on cryptocurrencies at the World Economic Forum in Davos.
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Litecoin will be the one used as currency haha
The Cooperation club
Always do your own research.
Mathematical Proof That the Lightning Network Cannot Be a Decentralized Bitcoin Scaling Solution
Have you heard of the Bitcoin Lightning Network? It is a proposal that claims that:
“using a network of these micropayment channels, Bitcoin can scale to billions of transactions per day”
What it doesn’t tell you is that this can only be accomplished by using large, centralized “banking” hubs.
https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800
While Bitcoin maximalists will point to overlay software such as Lightning, there have been numerous intractable problems with using secondary software to interact with POW networks. Using a secondary network to scale doesn’t solve the problem of using a completely inadequate base-layer technology.
https://ambcrypto.com/xrp-gets-more-decentralized-as-proof-of-work-based-cryptocurrencies-face-extinction/
Bitcoin Has Become a Centralised Currency
When Satoshi Nakamoto created Bitcoin, it was a nothing less than a revolution, creating a truly decentralised, community-powered, cryptocurrency. The power of Bitcoin was the fact that it was decentralised and not one centralised stakeholder could control the network. Unfortunately, that is no longer the case. Today, 70% of the Bitcoin’s collective hash rate, i.e. the mining power, is controlled by Chinese Mining Pools (which are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power). In addition, the four biggest mining pools control over 50% of the network’s collective hash rate.
This centralisation of mining is a logical consequence of how the protocol was developed, as it rewards economies of scale. As a result, Bitcoin is no longer the decentralised network that it was supposed to be when it was developed. This does not have to be a problem, as long as the mining pools can be trusted and have an incentive to do the right thing. However, since most of these mining pools are in China, this could quickly change if the Chinese government decides, for whatever reason, to intervene and take over the Chinese mining pools. This centralisation of Bitcoin poses a real threat to the future of the cryptocurrency
The longer Bitcoin exists, the more difficult it becomes to “mine,” or create new coins. Without the miners, the Bitcoin network collapses. The cost of getting started as a new miner is so far out of reach for the average person that the main miners are gigantic warehouses in China. In most countries, the cost of electricity to run these computers is actually more than what the digital currency is worth, which makes it pointless to even try.The longer Bitcoin exists, the longer it takes for these computer systems to process the information.
the official time for a Bitcoin transfer is “one hour,” but anyone who uses Bitcoin on a regular basis knows that is far from the truth. Transactions can take up to six hours at busy times of the day, because it averages 15 transactions per second. There is no guarantee that it will ever improve. In fact, it is likely to keep getting worse. In contrast, 2nd generation of cryptos Lile XLM, or Ripple’s coin XRP settles 1,500 transactions every second, and they have the technology and infrastructure to make sure that they’ll never slow down. In the digital age, where people want things to happen within a split second, it is simply not realistic to think that as the world slowly begins to understand and use blockchain in their everyday lives, they will choose the slower option, Bitcoin, over currencies that are faster.
Four seemingly insurmountable challenges of Bitcoin:
1. High transactions costs, preventing small-scale transactions or even micro/nano transactions required for the Internet of Things;
2. Low number of transactions per second, which prevents it from being used in everyday life;
3. A centralised cryptocurrency that can be controlled by a few mining pools, if they wanted to;
4. An unsustainable energy consumption, even if all miners would switch to clean energy.
Bitcoin does not have a future and will ultimately fail. It will become the Myspace of cryptocurrencies
Lol XRP tokens? who said future power generated by fosil fuel?
all "experts" (actually morons, sucking up to the existing fucked up system puppets). Bitcoin SYSTEM not only works flawlessly for 10 years now, it is the ONLY system which rewards WORK and doesn't reward corruption and exploitation of other people's work the way Capitalism does. Bitcoin SYSTEM is now in Bitcoin BSV… BTC has been hijacked and rendered unusable as money by people who work for bankers… watch my videos to learn all this… you will thank me later.
FUD
https://xbt.net/blog/bitcoin-blog/myth-busting-bitcoin-mining-is-not-necessarily-bad-for-the-environment-says-clean-energy-researcher/
It always seems good to meet the right persons,, I keep making huge profit with Mr kelvin peter…
Bhahahahahahahahahahahahahahaha "It is not based on anything"…. Really that douche of a guy knows nothing!!! Then the other guy supporting Ripple!! The Elitist controlled crypto that seems to actually be based on nothing and is mass produced like our current currency? How can anyone take these guys seriously!?!
They are clueless, energy consumption is a downside for a miner because it has cost to it. Most miners probably use renewable energy which is in some cases cheaper than fossil fuel and will become cheaper and more efficient.
I like the way Edith Young young delivered her point and to me it was the best of the bunch
You better hurry up and tell Jeffrey Sprecher, the CEO and founder of ICE (Intercontinental Exchange) and he's also the chairman of the New York Stock Exchange who was quoted as saying back in August when he announced the launch of the new BAKKT exchange platform (www.bakkt.com) that Bitcoin has the potential to become the first worldwide currency… in fact the first product offering they are going to be providing is a one-day physically settled Bitcoin Futures Contract.
Jewish shills out in force hosted by cnbc which is Jewish owned.
you are talking bullshit. what about the energy that VISA and the banks are using? plus the trees they are cutting? Bitcoin is the choice 😉
Bitcoin will never see mass adaption
XRP the Standard.
and so much technology that dont care about environment is part of our future…..
Chimps..
XRP MOOOOON BABY!!! ???
Miners will start using more and more renewables. Natural gas would be a great way for gas companies to make money off their extra burn off. Etc etc.
Bitcoin has provided greater returns since 2015 than Berkshire Hathaway since 1995!
Ethereum has provided greater returns since 2015 than the Dow Jones Industrial Average since 1980!
If you owned Gold for exactly 5 years today you literally made 39 dollars on every ounce of gold you own.
If you owned Bitcoin for exactly 5 years today you made a 6x return, with the possibility of a 30x return!!!!
Why wouldn't Bitcoin be part of your portfolio for the next 5 years? Bitcoin is literally the best performing asset over the past decade.
The long term trend is still intact on a log scale, it's crystal clear! Bitcoin may have lost 70% from it's "ALL TIME HIGHS" in 2017, but that doesn't mean it's not a store of value. A store of value has to be determined on a long term horizon, no less than 5 years.
– btcs value is in the protocol , value is in its properties (immutability,transparency,trustlessness,fungibility and non fungibility,anti inflation …) and that value is definitely not zero , properties it gets from technology of blockchain and it shares those properties with all other cryptos of which some have added value of executing decentralized applications , i see huge value in that and i am investing every cent i can in it and others
A lot of mining is done via renewable energy and this will only increase.
Why talk btc if you dont believe in it. Talk about that strong $0 debt based usd.
Bitcoin is a scam
It can become proof of stake. Checkmate.