Never would I've expected that I would get reactions on my posts as soon as they came in yesterday. Thanks for correcting me on my errors and showing interest everybody, it is a big motivator!
In today's clip I am standing in front of Hungarian's beautiful library of Parliament, talking about cryptocurrency. I get a lot of questions from people about cryptocoins and made it into the media for it a couple of times, so let me give you my predictions and hopes for 2018.
In 2017 bitcoins popularity rose to new levels never seen before. Not only did the price show us these new levels of interest, but also the so called mem-pool of bitcoin showed there where more and more participants. Bitcoin has it's limitations, I've written about those limitations before, you can read about it here: https://www.cryptopia.co.nz/Forum/Thread/822?postId=7594
These limitations make bitcoin alone completely unable to serve the entire world of financial transactions. Other coins, like Ripple for example, gladly try to persuade the cryptocommunity in changing their believes, this makes Ripple one of the most dangerous competitors to Bitcoin if you ask me. Unfortunately, the bitcoin ecospace is alway's devided and full of selfmade millionairs that don't take any advice from no one, this makes it difficult, if not impossible, to go any different direction with bitcoin then the way it is going today, simple straight forward.
I personally believe that a web of coins need to be maintained if we ever want the world to change to crypto. I myself start using litecoin, bitcoincash or dogecoin when transactioncosts on exchanges are getting too steep, meaning instead of sending bitcoins from one exchange to the other, I perform my arbitrage by using a different coin. That is the reason why I strongly believe that EFL has a great future ahead of itself, because when bitcoin and other coins get full, it can serve the cryptospace with cheap transactions. Also, I believe that people who live close to eachother and speak the same language have good reasons to share a blockchain.
Many Bitcoin purists as I like to call them believe that the Lightning Network (LN) will make altcoins obsolete, but it simply won't, because LN only allows for more transactions if you start trusting a thirth party, which in my book would mean we are back at square one, because didn't we start using Bitcoin to get rid of that thirth party?
I do not see Bitcoins limitations as a bug, but as a feature. I believe in 2018 Ripple is going to try to get people to invest in their protocol with statements such as:
more energy friendly
but we shouldn't forget one thing: Blockchain technology can also be dangerous. Privacy could be in danger in example. What if Ripple knows exactly what address belong to who, because if you don't follow their KYC guidelines you simply are unable to open up an account with them. It could turn into the biggest Big Brother surveillance system ever made and I strongly doubt if we should want such an ecosystem, but I am sure that the media will write as many positive articles on Ripple, as they are writing negative ones on Bitcoin. That is why I hope people will see that it is not so much about making a profit or what coin gives you the best cheapest and fastest transaction, but way more about what future we pass to our children. It is about getting back financial freedom and by converting to Ripple, that freedom is exactly what you are giving up. I personally trade Ripple but I've made up my mind that in the long run I will use that profit not to keep those Ripples, but to invest it into real and honoust cryptocoins, in which honoust is ofcourse defined by my own filter. Many people will say that cryptocoins can never be honoust because of the way how it's distributed for example, but let's not forget that crpytocoins are not debt and can only be spend once by their owner. Contrary to today's financial system, where the ones with the power can endlesly print extra money, bitcoin holders can only spend their coins once, and when they do they then belong to someone else, what i mean with that is that when price and time develops the distribution will become more fair. I hope that we as people won't let us get devided on these matters, because it is actually already happening and the reason why I left the Netherlands, because many of the old people don't understand crypto and trust the traditional media they let themselves be seperated from a new and younger group of people who have completely different valuesystems then what is normal today.
Well, that's it again I guess, hope you like these posts and feel free to support me on my journey by buying some e-Gulden EFL, it might even make you a profit ;)