The cryptocurrency has had a lot of hype, but there have been times where it has failed to live up to it. There has been huge gains made in this burgeoning market of cryptocurrency; however, there are also a lot of overjustified expectations that were not reached in a year full of hype.
“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” The first line in Bitcoin’s Whitepaper, penned by Satoshi Nakamoto, is heavily weighted towards the founding digital currency to be exactly that – a digital currency. However, it is hard, for even the most ardent of Bitcoin fans, to call Bitcoin the ultimate and useful digital currency as it stands.
The Cryptocurrency has gone through its changes this year, first with UASF coming after the Aug. 1 chain split, then with the recent failure to initiate SegWit2x.
Of course, Bitcoin’s designation is determined by its users in a democratic way, but the way in which the original currency has headed has made it hard to be the pioneer of digital currencies that could revolutionize the world. That is not to say that things won’t change.
Lightning network is in the background, and there are always opportunities for changes, but 2017 saw Bitcoin drift away from its expectation to become a new era in money. When Bitcoin and others forced their way into the scope of the mainstream, those in the financial institution hissed and jeered at Bitcoin’s potential to usurp them, but they also found it hard to berate Blockchain technology. Read more from cointelegraph.com…
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