It's kind of hard to say "considered more secure" as a blanket statement. There are definitely important trade-offs though and anyone who wants to see crypto as more than a novelty (store of value, medium of exchange, etc.) Should understand the fundamental consensus mechanism of the project they're interested in.vincent_c wrote: ↑Tue Aug 31, 2021 9:41 pmTo make things simple, people should know that the type of blockchain bitcoin is is considered more secure than most of the newer blockchains that are mostly some version of proof of stake. At the end of the day, encryption is probabilistic and it is secure enough for most people, I think that is a fair statement.
If you are concerned about bitcoin’s security then the conversation is over.
You may find the article I linked to about hard and soft forks in my above post compelling. Thank you for being sorry for me, we're sorry for ourselves (and everyone else) as well haha. But it's okay, we have our heads up and I understand crypto is an experimental industry that will continue to have many changes. I support quite a few other projects, though you should know that BCH is far from "dead", but i'll leave it at that. The point is optionality in technology and while we'd all like to see the dollar value of our coins rise exponentially i'm also very excited about the possibilities that are being offered in the industry.If you are concerned about hardfork, I’ll say this isn’t 2017 and I’m very sorry for you if you supported BCH all this time. The thing is, people should understand the one key thing about forks which is that when a blockchain forks the token holders get both coins in the fork and you don’t lose anything. The market will sort out which is the blockchain that retains the most value and it doesn’t affect you at all.
Why does Tesla have value? Is it because they're selling more cars than Ford or Toyota? Because they've rolled out a million robotaxis?Why does BTC have value? It’s because everyone knows BTC and trust is difficult to accquire. Not a lot of people even know ethereum and if someone can name a project that is looking to be a store of value blockchain then let’s hear it because if I can’t think of one and I’m in the space both as an investor and in business then how well known can it be?
You could say it's because everyone knows Tesla and trust is a difficult thing to acquire...but people said the same of Theranos and WeWork. The passage of time does funny things to our memory.
I'll offer you an alternative perspective- what if a blockchain isn't looking to be a store of value, but naturally becomes one by way of its utility being too attractive to ignore and permeating everyday life? That is what Ethereum proponents imagine is going to happen. Whether it does I don't know, but that seems like a smarter strategy then "accept BTC as a store of value because everyone covets it (why they covet it, no one really knows).
No that's what Tether and stablecoins do, but that's a completely different can of worms.The blockchain industry needs capital in order for blockchain projects to be funded. That capital has to get into the crypto industry somehow and whether you like it or not, the tool that is being used is the BTC blockchain. Is that even controversial?
That BTC is objectively the "gold standard" (pun unintended, but now intended) of crypto projects right now is not controversial. Even people who don't like it will admit that, but that's because the space is FAR from mature. I do not expect it to last, but that's what makes a market.