| submitted by /u/DesignerAccount
Every country produces its share of underperforming altcoins. They’re called shitcoins for a reason. But China has a track record for creating altcoins that are shittier than most. The country has spawned a slew of talented developers, and has made a huge contribution to cryptocurrency adoption and innovation as a whole. But when it comes to altcoins, China’s wither and die at a phenomenal rate. The question is, why?
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Serious, not being ironic. I am very new to crypto and I think I am a little late at the party.
We watched a crazy altcoins raise in December but I think that was just because people were looking for the "new Bitcoin". Chasing tenfold gains.
Aside from 'i believe in the technology' I think most of us are here for the money.
To me it's a little difficult to understand why holding altcoins. I had them, but yesterday moved everything to btc and I think I'll leave it all there
Compared to altcoins, Bitcoin’s sidechain/layer2 functionality has more community, competition, tech, people, capital, flexibility.
And it is here today.
There is Lighting of course with near instant transactions and near zero fees at any scale.
Smart contracts and instant payment via RSK
Near instant and confidential trading between exchanges via Liquid
And much more underway now…and this is still just the dawn…not even sidechain gen1…just the sunrise.
Compared to altcoins, Bitcoin’s sidechain/layer2 functionality has more community, competition, tech, people, capital, flexibility. And it is here today. There is Lighting of course with near instant transactions and near zero fees at any scale. There are fully anonymous transactions via ZeroLink and TumbleBit Smart…
Numerous major financial institutions have integrated support for Bitcoin, with elite investment banks like Goldman Sachs contemplating the creation of Bitcoin trading desks in 2018. The Chicago Board Options Exchange (Cboe) and CME Group, the two largest futures exchanges in the world, …
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