Cryptocurrency

Ari Paul: Bitcoin should not feel of Altcoins threatened

The die-hard Bitcoin supporters should be neutral with respect to Altcoins, but skeptical of Hard-Forks, so Ari David Paul, co-founder of block tower Capital. But what is disturbing, are Hard-Forks, which interfere with the Mining of the SHA-256 algorithm.
Ari Paul, who was recently seen in the case of Hedera Hashgraph, showed in a recent Twitter Thread, a balanced attitude towards Altcoins. The comments in the discussion of the “Bitcoin Maximalists”, which came to the foreground because of the Bitcoin price exceeded the Performance of the Altcoins in 2019, far.

Finally, Paul believes that Bitcoin can take all the use cases and technological Features of Altcoins. But in the short term, Altcoins can carry the demand for a certain solution until it is implemented in the Bitcoin network.

Hard-Forks are a challenge for Bitcoin

Hard-Forks are harmful, and bring the image of BTC directly to collapse, says Paul. In the year 2018 BTC saw with two large Hard-Forks faced Bitcoin Cash (BCH) and Bitcoin SV (BSV). Both Coins have claimed in their brief history, they were the true Bitcoin.
In particular, for Bitcoin SV, the message is very pronounced. The project promoters believe that it is the real Satoshi-Vision. Currently, BTC, BCH and BSV are the leading SHA-256-networks Hash Rate. Bitcoin is, of course, at the top, with an unprecedented Mining power. The Miner reached a pace of more than 97 million Terahashes per second, an absolute record. The nets BCH and the BSV only transport about 1 Million Terahashes per second.

Hashrate Wars

To Fight the danger that Hard-Forks performs the same Hash mechanism to use the limited computing power of the Miner. In the past, this was a threat to Bitcoin, especially at the time when the miners threatened to split and develop a new Version of the Bitcoin-Blockchain in order to surpass the Original by active Mining.
In the last ten years, BTC has survived the advent of hundreds of new Altcoins. Many of these projects had a Vision that they could displace the large Bitcoin, but that has not happened yet.
Text evidence: bitcoinis, christine vasileva

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.