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Bitcoin is a dinosaur!
"There are new crypto systems coming out that are implementing governance systems to totally avoid hard forks, these systems also run at a far faster confirmation rate, are implementing para-chain systems so transactions can be calculated in parallel instead of bottle-necking because of a single slow block creator.
Honestly, Bitcoin is a dinosaur at this point and there are for more innovative and forward thinking block-chains and cryptos that are building better scaling systems from the ground up instead of doing all these modifications on a by now old system.The confirmation times are too long for Bitcoin (I'm sorry but ~20 minutes for ONE confirmation at the BEST speed? That's unacceptable these days, other coins can get 30-40 in by that time), there is no ability to build an entire ecosystem like DeFi on BTC because of no smart contract capabilities, like what's happened with Ethereum.
Once Ethereum implements para-chains and such, it will be able to keep fees low while scaling to a much higher level and areas such as DeFi will explode even more than it already has.
Even if Bitcoin gets it's confirmation times up to snuff, and even maybe introduces smart contracts, the third wave of cryptos will already be blossoming, namely PolkdaDot, Cosmos and Cardano, are going to usher in an era of interoperability between blockchains so they are no longer operating seperately, AS WELL as utulizing parachains for parallel blockchain usage loads to be distributed, thus being far faster, and if one part of the network gets overloaded the whole network doesn't suffer.
And smart contracts on top. Coins like UMA introducing self-enforcing OTC financial contracts, that are priceless, and trustless. OCEAN protocol introducing a data blockchain where data scientists can utulize data to train AI without exposing data publicly has huge potential, as data is the new oil and is just starting to get into boom mode.
The altcoin market is awash in very innovative projects that are pushing the boundaries of what can be done with blockchain, and Bitcoin is just a dinosaur at this point trying to catch up to stuff that's already been established for a year or more. It just doesn't seem worth it in the end. What it has going is notoriety and being the first of all. But it's first-gen tech, whereas third-gen tech is now coming out.Coins like Chainlink and BAND protocol are working to bring external data onto blockchains like Ethereum's and Cosmos' ecosystem to be used in things like synthetic asset markets/derivatives markets. From what I see, bitcoin is nothing but a good store of value at this point but it's other features and functions are simply too slow and not modular enough to go up against systems like Ethereum where you have this entire Decentralized Financial world popping up, like lending pools, decentralized exchanges, collateralized loans, flash loans, as well as staking coins for the network to earn % interest back on your staking (I have one going at 12% APY, compounded bi-weekly right now) .
There's so many ways to make passive income far beyond what any bank could have offered, and Bitcoin doesn't have any of that from what I know. Also China owns some insane amount of the Bitcoin mining supply, who knows what strings they'll pull with that power.I don't know much of the Lightning Network but it's been in the works forever now, and if all it's going to do is increase confirmation/block times, that's not enough to catch up to all the other innovations going on right now. Bitcoin will always be respected for starting the revolution but by now, there's far more block efficient, readily scalable, and far more multi-functional cryptos out there now. And it's prime season to be investing in them. Case in point, BTC block times are something like 5 minutes? Ethereum's are 14 seconds. And there's others even faster."
https://www.reddit.com/user/heronharry1/
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