Roger Ver Calls Bitcoin's High Fees and Slow Confirmations Reason for Altcoin Takeover by kyle.anderson

bitcoin · @kyle.anderson · May 1 '17

$0.67

Roger Ver Calls Bitcoin's High Fees and Slow Confirmations Reason for Altcoin Takeover

---
#### *High fees are destroying Bitcoin's network effect and market dominance. Money is pouring from Bitcoin into altcoins with promises of better scalability and user experience.*

---

> ### Bitcoin’s market cap is bleeding into altcoins, and most Core supporters are too economically ignorant to notice this because Bitcoin’s price is higher than ever before.

>--[Roger Ver](https://www.reddit.com/r/btc/comments/68g0zi/bitcoins_market_cap_is_bleeding_into_alt_coins/)

---

A huge part of this explosion in altcoins is being driven by the horrible Bitcoin experience along with the toxic community. These problems have the potential to upset Bitcoin's network effect given enough time. Roger is smart with his emphasis on the Bitcoin price; sure Bitcoin may not be falling in value, but it is losing market capitalization quickly because it is unable to grow at pace with the industry. The Bitcoin Core developers have been twiddling their thumbs for the past 6 years waiting for people to start using Bitcoin. Meanwhile, people *have* started using it and it [can't keep up.](https://blockchain.info/charts/avg-block-size?timespan=all) 

To be clear, a lot of this money pouring away from Bitcoin is flowing into projects with much more unsteady footing than Bitcoin itself. Take my recent post, [Crypto Markets Are Exploding! Can the Market Keep Up? - Revisiting: A Note of Consensus in this Time of Cryptocurrency Chaos](https://steemit.com/cryptocurrency/@kyle.anderson/crypto-markets-are-exploding-can-the-market-keep-up-revisiting-a-note-of-consensus-in-this-time-of-cryptocurrency-chaos), as a resource on this altcoin frenzy. I still have a lot of confidence that Bitcoin will overcome the scaling problems as more miners and stakeholders realize the correlation between these two graphs.


![roger ver pic](https://i.imgsafe.org/68f2085230.jpg)
[*img source*]((https://www.reddit.com/r/btc/comments/68g0zi/bitcoins_market_cap_is_bleeding_into_alt_coins/))

---

As always, stay decentralized.
-Kyle

👍 kevinwong, fyrstikken, doitvoluntarily, kyle.anderson, matrixdweller, raymonjohnstone, mammasitta, lykendream, verelst, preparedwombat, laurieanderson, mathworksheets, sqube, mapipaz, parker.hammer, nba05, cathynsons, anwarabdullah

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@preparedwombat · May 1 '17

Roger Ver's Chinacoin scheme seems to be imploding.

👍 laurieanderson, kyle.anderson

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@kyle.anderson · May 1 '17

China coin? Please elaborate if you are prepared.

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@preparedwombat · May 1 '17

It's a name that @bitcoinmeister uses for the Bitcoin Unlimited that Ver wants.

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3 replies

@chrishronic · May 1 '17

couple of days ago I checked the usdt value of combined top traded alts on polo and btc usdt value, though alts are surging, both btc and alts are at or near ATH. "alts take over" - they're just increasing value faster than btc increased in past months.

👍 kyle.anderson

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@kyle.anderson · May 1 '17

Yeah, Roger and I agree:
>Bitcoin may not be falling in value, but it is losing market capitalization quickly because it is unable to grow at pace with the industry. 

---
Keep in mind USDT price is tradeing 93 cents to the dollar.

👍 kyle.anderson, laurieanderson

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@teamsteem · May 1 '17

Please comment why you flagged my last post or remove your flag. Thank you.

👍 kyle.anderson, laurieanderson
👎 matrixdweller

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@kyle.anderson · May 1 '17 (edited)

Um why? Are flags illegal all of a sudden?

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@teamsteem · May 1 '17

Thank you for having removing it. No flags aren't illegal. If you had downvoted all the top authors or top trending post I wouldn't have said anything but for some reason it was mostly me. I don't think it was a good thing for both of us. 

The way Steem is right now is somewhat unfair. The linear curve reward will change this and the trending page will be very different and Steem will be very different.

👍 kyle.anderson, laurieanderson

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6 replies

@matrixdweller · May 1 '17

How about better tech and scalability

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@kyle.anderson · May 1 '17

It all exists, only waiting on implementation.

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@matrixdweller · May 1 '17 (edited)

That is called vapourware. If you've ever written code you know until it works and is working  it doesn't fucking work. Bitshares is working and scalable TODAY!

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6 replies