"It's like the old tech coin already and the people at the top...

  1. 898 Posts.
    "It's like the old tech coin already and the people at the top are restricting it from moving forward to improve hashrates, transaction rates and cost per transactions, so it can never be used to overtake in the "real world" like fiat money."

    There are no people at the top. Transaction rates can be slightly improved upon at the base layer, but any significant increase in block size would compromise the decentralised distributed P2P feature of the network. Therefore, transactions need to move into multiple layers.

    "Exit from Bitcoin to newertech, better tech, easier systems, and more importantly faster transactions."

    99.999% of the alt coins I look at appear to have been written by clueless script kiddies. The first telling thing they do is decrease the block time and / or increase the block size. This is down-scaling, not up-scaling. If they had to deal with any real world usage, extreme centralisation would likely be the best case scenario, with complete system failure being possible. Bitcoin can scale to near infinite transactions using multiple layer technology once it becomes fully developed. During the mean time, it has the most exchanges, merchants and user base.

    "You also have "hack" concerns, when I first bought in 2009 since I've seen at least 100,000 bitcoins stolen."

    The Bitcoin network has never been hacked. But it is a truly free market currency, and as such can't protect against people doing stupid stuff. If you place a million dollars on your front lawn and go away for 6 hours, don’t act surprised if it disappeared. I don't see how any of the other alt-coins protect against this better anyhow (Or even cash for that matter).

    "Larger online stores ie: Amazon have patent for own blockchain"

    Blockchain would be useless to them in this manner for payments. The only difference between 'Blockchain' and 20+ year old database technology is the distributed P2P consensus. If Amazon were to have some authority over their creation of this service, then it is a payment processor database, not a Blockchain. Also in doing so, they have taken on the risks and costs of other payment processors they currently outsource to (PayPal, Visa, etc). For the end user, there is no significant difference between using the Amazon payment process database or Visa / Mastercard, with traditional payment processors being able to process almost instantly.

    "The other way it could go to zero is: Miners stop, well mining due to costs outweighing rewards."

    Practically impossible. There is a significant commitment by multiple parties committing hash power to the mining network. Any drop in this rate would result in a difficulty re-adjustment. If all the ASICs eventually left (Not likely without a Hard Fork), consumer grade computers would run it after multiple difficulty re-adjustments had occurred. In essence, it is impossible for all miners to stop mining overnight, yet any eventuality taking more than a few weeks would re-adjust the mining difficulty algorithm.
 
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