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nanarchy on 18 January 2018
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OhNoYouDont said:
vivster said:

There is no point anymore. Crypto currencies have long become just commodities for a handful of people to trade and make money from. They are as much currency now as stock.

Even if crypto currencies will be used as actual currency some day it will not get widespread due to inherent design constraints.

https://en.wikipedia.org/wiki/Bitcoin_scalability_problem

I'm quite certain that all crypto currency will never amount to more than being a plaything for rich people, a money laundering tool and payment for illegal goods. It was a neat idea but humans fucked it up.

Bitcoin has a scaling problem. Other coins don't. See: XRP, XLM, RaiBlocks, etc. They can do ~100,000+ transactions per second which is more than credit card companies. And they can do it in some cases for free.

FYI, 100,000+ is not actually more than what credit card companies can do, it is more than what a single credit card company can currently do as they haven't needed to go beyond that yet, though collectively they easily far surpass 100,000 and have no real limit. visa for example does 2k per second but has current capacity for 60k per second to handle spikes. XRP by comparison is currently limited to about 1500, but has potential to scale up with off ledger transactions. Really though all current coins have varying problems, whether it is complexity, scalability, cost, volatility, speed or simply lack of backing and fraud prevention. I don't see any of the current crop of coins being a long term thing.