There is no difference between BTC, ETH and DogeCoin and its similar plays.
But this has nothing to do with some view on issuer sincerity or "plausible" use-cases. Instead, whether a priori or ex post facto, they are all now part of undermining the dollar reserve system and the western liberal democratic project.
To Wit:
1. PoW blockchains don’t scale. Period. Using the most efficient way of transacting BTC will take anywhere between 5 minutes to an hour, depending on the network you’re using. And other factors. If you transact on Binance, Huobi, Coinbase, etc. then you are placing your trust in the honesty and, most of all, technical and security competency of these operations. And their financial viability and honesty. Because they are crediting your account long before they actually effect the requested transaction. And never mind the notion of “price” at that moment.
2. PoW crypto-currencies (BTC, ETC, ETH, XRP LTC, etc). are NOT decentralized. The definition of DECENTRALIZED is PBFT, Practical Byzantine Fault Tolerance (and secondarily invulnerable to a “Sybil Attack” of any kind). This means no group 51% or greater of transaction processors (miners) can collude to corrupt or exploit or take down the system:
A SMALL NUMBER OF CHINESE MINERS CONTROL ALMOST 70% OF BTC, ETH, etc. MINING.
NEARLY 100% OF MINING RIGS, ASICS THAT RUN THE RIGS, AND OTHER TECHNOLOGY FOR MINING IS OWNED BY THESE SAME PEOPLE. SO MUCH FOR DECENTRALIZATION.
3. The Communist Party of China easily and quickly outlawed all Crypto with a speech from Xi JinPing and a ready and fast set of criminal penalties.There was a HUGE constituency for crypto in China. It had no say in this.
BUT…China was perfectly fine to leave alone the otherwise economically insignificant mining operators.
China is interested in undermining the dollar and the western liberal democratic order (however imperfect) that stands behind it. Getting the West and most of all USA deeply invested in crypto is part of the project. And creating a parallel reserve currency (Digital Yuan/Digital Renminbi) for all the corrupt and autocratic human rights violators that will sell China all the resources it needs and buy Chinese products without any need to behave.
HERE ARE A SMALL SAMPLING OF SOURCES TO PERUSE FOR YOUR READERS:
BLOCKCHAIN TRANSACTION TIMES
https://www.unicoindcx.com/blog/why-do-bitcoin-transactions-take-so-long
https://paxful.com/support/en-us/articles/360009350934-How-long-does-it-take-to-receive-a-Bitcoin-transaction-#:~:text=Give%20the%20Bitcoin%20network%20some,depending%20on%20the%20Bitcoin%20network.
https://coinsutra.com/bitcoin-transfer-time/
At least 65% of BTC is mined in China…it’s the same or more for other PoW coins
Rig Manufacturers:
NOTE: AMD and Bitfury have a tiny fraction of the market. All ICs in the Chinese rigs are Chinese designed and manufactured.
Chinese - ASICminer Co.
Chinese - Baikal Miner
Chinese - BitMain Technologies Holding Co.
Chinese - Canaan Inc.
Chinese - Cynosure Technologies Co. Ltd.
Chinese - Halong Mining
Chinese - INNOSILICON Technology Ltd.
Chinese - Shenzhen MicroBT Electronics Technology Co. Ltd.
Chinese - EBANG
Dutch (sort of) - Bitfury Group Ltd.
American - Advanced Micro Devices Inc.
Market Share:
