Meltem Demirors a digital currency investor, advisor and advocate, with a unique blend of experience in both legacy & blockchain-based finance, cryptocurrencies and the Chief Strategy Officer at CoinShares, reportedly claimed that notwithstanding the hindrances that Bitcoin faced in the beginning, its continual development indicates that this simple yet advance technological innovation is irreplaceable.
The Chief Strategy Officer further stated that Bitcoin defended itself from the consensus issues and in 2017 during the ICO boom, altcoins claimed to be superior to Bitcoin in various ways. Eventually, that altcoins lost their strength, as they were not up to the mark and lacked the ability to manage funds. The altcoins were actually just a pump and dump scheme as they had no actual product and no development.
Demirors reiterated that Bitcoin is the cryptocurrency which is irreplaceable because its simple and elegant technological innovation. It took ten years for Bitcoin to be where it is now. About the Bitcoin scalability issue, she stated that Lightning Network, Taproot implementation, and Schnorr signatures were all the future upgrades that would ensure that Bitcoin would scale, and is more private and more secure. She believes that although network value is essential, it shouldn’t be the central point for the community. And it is up to them to make sure its success.
