Bitcoin, the world’s most renowned cryptocurrency, is proving inadequate not only as a safe investment like gold but also as a practical medium for payments. Its price remains volatile, and users face significant challenges in utilizing it effectively, leading to dissatisfaction among both investors and consumers. Initially introduced as a digital currency aimed at providing fast and easy financial transactions outside traditional systems, Bitcoin’s transaction speed and fees often render it unsuitable for everyday small purchases. Meanwhile, other cryptocurrencies and blockchain-based protocols are emerging as more efficient and cost-effective alternatives. Gold has long been regarded as a stable safe haven with consistent value over time, and Bitcoin was once touted as “digital gold.” However, recent market fluctuations and usability issues have weakened this comparison, prompting investors to seek more stable and convenient assets. The cryptocurrency landscape is rapidly evolving, with new technologies and currencies poised to replace Bitcoin. To maintain its relevance, Bitcoin must improve its structure and technology to become a reliable option not only for investment but also for payments.
Source: coindesk
