When Bitcoin was first introduced to the market, it held enormous potential as the single most important and libertarian currency in the world. Gone were the days of centralized control of our money, high fees to transfer across arbitrary borders, and speed. Oh goodness, the speed was incredible!
Fast forward a few years later and it looks like almost all of that potential has come to a screaming, grinding, halt. Fees are increasing every day, processing is taking longer and longer, and, let's be honest, a small group of miners pretty much controls the network and can do whatever they want. In only a few years, Bitcoin has gone from the savior currency of the entire world to a currency that many are choosing to exchange for better, more flexible, alternatives.
Thankfully, many in the market saw our current problems coming and moved early to make sure alternatives were available. Right now, there are more viable alternatives to Bitcoin in the market than ever before. And, when I say 'viable', I don't mean 'might be valuable one day', I mean viable now. Options like Dash, Ethereum, and a few others offer tremendous potential for the future but are still affordable enough for the little guy to get involved with them in a meaningful way. These alternative coins are becoming so popular, I know at least three people who are actually divesting from Bitcoin just to buy into one of these up-and-coming alt-coins as a hedge against the scary stuff that might happen to Bitcoin in the near future.
Bitcoin ushered in a new freedom for our money. But that doesn't guarantee it a place as the de-facto currency of the realm. It's got some real problems that need to be addressed quickly or the currency might crash and burn under its own weight. But the end of Bitcoin, if it comes to that, won't spell the end of monetary freedom or of cryptocurrencies in general. There's a long line forming in the wings just waiting for their day in the sun.
What's your favorite alt-coin and why? Do you believe Bitcoin has a future? What do you think needs to be done to 'save Bitcoin'? Comment below and let's discuss it!